Plaintiffs Combine Their Market-Manipulation Lawsuits Against Bitfinex and Tether

Plaintiffs Combine Their Market-Manipulation Lawsuits Against Bitfinex and Tether 1  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Plaintiffs in three separate putative class action lawsuits against Bitfinex and Tether have moved to consolidate their cases, according to a Thursday court filing. Court filings by David Leibowitz et al, Eric Young et al, and Bryan Faubus et al, accuse the sister companies of manipulating the crypto markets. Their cases share common threads, filings show, including allegations that Bitfinex and Tether manipulated the price of bitcoin and bitcoin futures in violation of federal law. All three cases were filed in the U.S. District Court for the Southern District of…

Canadian Regulatory Group Targets Crypto Exchanges Holding Users’ Digital Assets

Canadian Regulatory Group Targets Crypto Exchanges Holding Users' Digital Assets 2  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Canada’s top financial watchdog has told crypto exchanges they will be subject to securities law if they act as custodians to users’ digital assets. The Canadian Securities Administrators (CSA) said in guidance published Thursday the common exchange practice of custodying users’ assets – “merely providing users with a contractural right or claim to an underlying crypto asset” – could subject them to securities legislation. “Whether a crypto asset has been immediately delivered to a Platform’s user is an important component in evaluating whether, and the extent to which, the transaction…

Deribit Takes On New Trading Tools to Capture ‘Exploding’ Options Market

Deribit Takes On New Trading Tools to Capture 'Exploding' Options Market 3  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Amid increasing activity within the crypto derivatives market, software maker Trading Technologies (TT) announced Wednesday it would provide trading tools to users of leading crypto exchange, Deribit. Included in the suite are advanced order types, charting and analytics as well as access to a feature allowing users to create algorithms for bot trading. TT users eligible to trade on Deribit will be able to access all listed products, including bitcoin (BTC) and ether (ETH) futures, perpetual and options contracts. Dutch-based (for another month) Deribit, founded in 2016, is now the…

Meet the DC Advocacy Org Helping Put Blockchain on the US Military’s Radar

Meet the DC Advocacy Org Helping Put Blockchain on the US Military's Radar 4  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Later this year, the U.S. Department of Defense (DoD) will give a report to Congress about ways in which blockchain technology might enhance the work of the U.S. military. The D.C.-based Value Technology Association (VTA) helped lead the charge in requiring DoD to put together such a hearing, VTA President Jason Brett said in a video interview with CoinDesk at the Consumer Electronics Show (CES) in Las Vegas last week. “What our Value Technology Foundation worked on was a blockchain briefing,” Brett said. “We wanted the military to look at…

Bitwise Withdraws Bitcoin ETF Application With the SEC

Bitwise Withdraws Bitcoin ETF Application With the SEC 5  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Bitwise Asset Management has withdrawn its application with the Securities and Exchange Commission (SEC) for its proposed bitcoin exchange-traded fund (ETF). The firm requested the withdrawal in a filing posted with the SEC on Tuesday. While the news may disappoint those in the investment community keen to see the first ever bitcoin ETF in the U.S., the news is unsurprising. The proposal has already been rejected by the SEC in October, although the regulator said soon after that it was reviewing the rejection. The proposal, filed in conjunction with NYSE…

Upbit Exchange Resumes Ether Services Months After $49M Hack

Upbit Exchange Resumes Ether Services Months After $49M Hack 6  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

South Korea-based Upbit has restarted ether wallet services nearly two months after hackers made off with $49 million-worth of the cryptocurrency. The exchange recently announced that following an upgrade to its wallet security system, the platform is once more able to support ETH deposits and withdrawals. A tweet indicated that the services had become available soon after 09:00 UTC Monday. Traders will need to create a new wallet address, to which ETH held on the exchange will be automatically deposited, the firm said. On Nov. 26, Upbit confirmed that an…

CME Takes Its Bitcoin Options Live, Competing With ICE’s Bakkt

CME Takes Its Bitcoin Options Live, Competing With ICE's Bakkt 7  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Chicago exchange CME Group has announced its highly-anticipated bitcoin options are now open for trading. Options on CME’s bitcoin futures contracts launched on the CME Globex around 15:00 UTC Monday. Each contract, quoted in U.S. dollars, represents five bitcoin and is cleared centrally to avoid counterparty risk. CME relies on trade flow data from several of the large bitcoin exchanges to accurately track bitcoin’s price. Bitcoin derivatives have been available on multiple cryptocurrency exchanges since at least 2014, but CME was one of the first platforms to offer investors regulated…

Ethereum Classic Successfully Completes ‘Agharta’ Hard Fork

Ethereum Classic Successfully Completes ‘Agharta’ Hard Fork 8  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Ethereum Classic successfully completed the “Agharta” hard fork at block number 9,573,000 at 06:26 UTC on Sunday, according to etcnodes.org. Similar to the network’s last backwards-incompatible upgrade in September, Atlantis, Agharta makes ethereum classic more interoperable with sister-chain ethereum. As part of the hard fork, the Constantinople and St. Petersburg upgrades deployed in tandem on the ethereum network last February will be enabled under Ethereum Classic Improvement Proposal (ECIP) 1056. The 22nd largest cryptocurrency by market capitalization, ethereum classic and ethereum engaged in a messy divorce following the 2016 DAO…

Hardware Is Hard: Two Blockchain Devices Win Plaudits at CES 2020

Hardware Is Hard: Two Blockchain Devices Win Plaudits at CES 2020 9  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

LAS VEGAS – In tech there’s an old adage: “hardware as hard.” It’s much easier to prototype and test a product when a mistake can be fixed by deleting and rewriting a few lines of code. At the Consumer Electronics Show (CES) in Las Vegas this week, though, two crypto companies are leading with atoms rather than bits, and it seems to be working.  Their products won “CES Innovation Awards” and coveted spots at the gadget showcase, where hordes of people pour through the Sands Expo Center. We first encountered…

LedgerX Names Former Chief Tech Officer as New CEO

LedgerX Names Former Chief Tech Officer as New CEO 11  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

LedgerX announced Friday co-founder and former chief technology officer Zach Dexter has been named the new chief executive of the bitcoin derivatives company. The company suspended CEO Paul Chou and COO/CRO Juthica Chou last month, with no explanation. The two were also co-founders of the company. Depository Trust and Clearing Corporation vice chairman Larry Thompson was named interim CEO and lead director of Ledger Holdings. In a statement, Thompson said, “since my involvement with the company began, we have kept in close contact with all of the company’s stakeholders including…