Security token startup Harbor has been granted a transfer agent license by the SEC, a month after getting the green light from the CFTC.
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Security Token Platform Receives Transfer Agent License From SEC
n Harbor has received a transfer agent license from the U.S. SECn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Whales Transfer Massive Amounts of Bitcoin as Bakkt Opens Warehouse Custody
The hype surrounding the imminent launch of Bakkt’s physically settled Bitcoin futures platform may not be unwarranted, as it now appears that some of the biggest BTC whales in the market are transferring their massive holdings into Bakkt’s warehouse custody solutions.
Assuming that the platform’s launch is met with great utilization, it is highly probable that it will help propel that crypto markets forward and could even spark a significant Bitcoin uptrend throughout the second half of 2019.
The Whales Swim as Bakkt Opens Bitcoin Warehouse
Although Bakkt is set to launch later this month, they officially opened their warehouse for Bitcoin deposits and withdraws today.
“Today our Warehouse opens for customer bitcoin deposits and withdrawals as we prepare for the Bakkt Bitcoin Daily & Monthly Futures, launching September 23. The availability of physical delivery brings more flexibility in managing bitcoin exposure,” the platform announced in a recent tweet.
Today our Warehouse opens for customer bitcoin deposits and withdrawals as we prepare for the Bakkt Bitcoin Daily & Monthly Futures, launching September 23
The availability of physical delivery brings more flexibility in managing bitcoin exposure
— Bakkt (@Bakkt) September 6, 2019
It appears that the platform has already been met with great success, as recent data shows that some of the largest Bitcoin investors have already initiated transfers into Bakkt’s wallets, which may suggest that the platform will be met with massive utilization upon its launch on September 23rd.
Glassnode, a company that offers on-chain data, explained in a recent tweet that a cluster of Bitcoin wallets containing a significant amount of the cryptocurrency did initiate transfers to what could be Bakkt’s wallets.
“Our data confirms this was the largest non-exchange entity cluster, consisting of dozens of #bitcoin addresses, with a peak balance of 124,178 $BTC that were accumulated in late 2016. According to our flags at least 73K $BTC of this whale’s balance originate from @HuobiGlobal,” they noted while pointing to a chart that shows “whale balance over time.”
Our data confirms this was the largest non-exchange entity cluster, consisting of dozens of #bitcoin addresses, with a peak balance of 124,178 $BTC that were accumulated in late 2016.
According to our flags at least 73K $BTC of this whale's balance originate from @HuobiGlobal. https://t.co/73d5v0QkyN pic.twitter.com/keiAt4ZRrC
— glassnode (@glassnode) September 6, 2019
Will a Successful Bakkt Launch Propel BTC’s Price?
Over the past year many analysts and investors alike have been pointing to Bakkt’s launch as a potential catalyst for the next bull run, and the significant amount of BTC that is already potentially being moved to the platform suggests that its launch may not disappoint investors.
Jonny Moe, a popular crypto analyst on Twitter, recently pointed to a Bitcoin chart that marks the launch of Bakkt later this month, suggesting that this could be a turning point that sparks the next run.
The chart. $BTC pic.twitter.com/cDnV30PtUZ
— Jonny Moe (@JonnyMoeTrades) September 6, 2019
As the month continues on and Bakkt begins accepting deposits to its custody solution, it is highly likely that analysts will be able to better gauge just how popular the platform will be, and whether or not it could truly be a catalyst for the next bull run.
Featured image from Shutterstock.
The post Whales Transfer Massive Amounts of Bitcoin as Bakkt Opens Warehouse Custody appeared first on NewsBTC.
Insanity: Ethereum Wallet Pays Nearly $575,000 in Fees to Transfer $25 in ETH
Strange things occur in the cryptocurrency market. Prices spike following negative news, and positive news is met with a strong sell-off. Cryptocurrency exchange founders are accused of faking their own deaths and making off with their customer’s assets. But not much is stranger than seeing someone pay over 0,000 in fees to send a mere fifteen bucks worth of Ether.
Recent transactions have been discovered on the Ethereum blockchain that show a transaction for 0.1 Ether, valued at approximately .80 at the time the transaction was sent by paying 2,100 ETH in fees.
Mysterious Ethereum Account Sends 0.1 Ether, Pays 2,100 ETH in Fees
The cryptocurrency community is running wild with speculation as to why a mysterious Ethereum wallet sent 0.1 ETH while paying an astronomical 2,100 ETH in fees. The fees total over 2,000 at today’s Ethereum price of 4, while the Ether itself that was sent is just a measly .40.
Someone just paid 2100 ETH for transaction fees.
That is over 0,000 spent to transfer .
Did they mistaken the fee with sending value? pic.twitter.com/Te1NKlcD6K
— Alec Ziupsnys (@AlecZiupsnys) February 19, 2019
At first glance, the sender appears to have made a user error, incorrectly swapping the transaction fee with the full value they were attempting to send. Crypto users commonly make mistakes when sending crypto to one address to another, occasionally even sending crypto to the wrong asset type or wallet address. It’s the reason it is always recommended users double- and even triple-check the receiving address before hitting send and signing a transaction.
Related Reading | Crypto Analyst: Investing in Ethereum Could Be More Profitable Than Bitcoin
Taking a journey down the rabbit hole of an Ethereum wallet, keen-eyed crypto users discovered that this wasn’t the only transaction like this example. In just one day, the wallet address sent 0.170000000000000002 ETH or roughly , for a total of 3990.00000000000004 ETH in fees. The fees total nearly 5,000 at today’s prices.
The account either has money to burn, is driven by a malfunctioning bot, or potentially has an ulterior motive. What that motive is, though, is yet to be understood, however, crypto sleuths everywhere are on the case.
Are the Strange Ethereum Transactions Tied to Money Laundering?
Some speculate that the high amount of fees are being used to launder money in some way. The Twitter account for the decentralized exchange Saturn Network explains how the transaction fees could be used to wash dirty funds so they appears as “honest miner income.”
that's money laundering. You do not broadcast this tx, you mine the block with this tx yourself. Once the block is included in the blockchain it is no longer dirty stinky stolen ether. It is honest miner income.
— Saturn Network (@SaturnProtocol) February 20, 2019
The transaction wasn’t publicly broadcasted, which could suggest that the block the transaction was in was mined by a complicit miner.
Related Reading | Etheruem Rally Takes a Break, Still Bullish Above 4
Whatever the case may be, the wallet is either sending these transactions on purpose for one reason or another – potentially to launder money – or is repeatedly making some extremely expensive mistakes. One thing is for sure: these transactions were sent with some of the fastest speeds the Etheruem blockchain has seen.
Featured image from Shutterstock
The post Insanity: Ethereum Wallet Pays Nearly 5,000 in Fees to Transfer in ETH appeared first on NewsBTC.
Crypto Wallet Says It Offers ‘World’s Fastest Bitcoin Transfer’ as New Feature Launches
A crypto company claims it is offering “the fastest Bitcoin transfer in the world” after adding a brand-new service to its crypto wallet.
SovereignWallet says its platform offers banking-grade features to protect user assets, all the while ensuring that completing transactions is as simple as “sending a text.”
Until now, those who use Ethereum, ERC20 tokens and the company’s own utility token – MUI – have benefited from a system where they can send crypto to their friends simply by clicking on their profile – directly from their smartphones. Notifications are subsequently sent when a transfer has been completed.
A new feature means that Bitcoin users can enjoy the same advantages – giving them a way to send and receive the cryptocurrency in a few seconds. According to the company’s CEO Seogku Yun, transfers of Bitcoin between SovereignWallet users are confirmed within 15-20 seconds due to the end-to-end encrypted side channel established between the sender and receiver. Mr. Yun says it is one of the first crypto wallets available on the market that doesn’t require a Bitcoin address in order for a transaction to take place.
SovereignWallet’s smartphone-based offering is designed to appeal to the unbanked, giving them a chance to avoid the “exorbitantly high fees” that have long been linked with sending remittances. The addition of Bitcoin to its crypto wallet is set to give users more choice – and address one of the biggest pitfalls with using this cryptocurrency: slow transaction speeds.
The company’s product is complemented by a secure chat feature – enabling fellow SovereignWallet users to benefit from end-to-end encryption during one-on-one and group conversations.
In a bid to appeal to as wide an audience as possible, SovereignWallet is available in several languages – English, Korean, Chinese, Vietnamese, Russian, Japanese and Portuguese among them. More are expected to follow in not-too-distant future.
An emphasis on security
The company says it has placed an emphasis on security in its quest to build a simple, accessible crypto wallet for the masses.
In addition to end-to-end encryption, SovereignWallet offers a mechanism to recover private keys – and the ability to withdraw messages sent in error via secure chat. Along with a zero-knowledge protocol and a mnemonic word sequence, “ID-based, machine-learning user authentication” provides secure logins.
Part of a wider vision
SovereignWallet says that its app “is the first phase in delivering an ecosystem of blockchain solutions that have the potential to touch millions” – as part of a new era it refers to as Blockchain 3.0. The platform wants to champion and deliver new features as part of the third iteration of this landmark technology, all the while eliminating some of the downsides that existed before. As alluded to earlier, one of these is slow speeds when confirming transactions.
Overall, the company has a bigger vision of enabling anyone to mint currencies for their own communities that would be pegged to a stable currency. Those who currently wish to do this often have to spend many thousands, if not millions, of dollars creating their own blockchain, but SovereignWallet wants to enable new types of currencies to thrive on an existing network.
As well as adding new features to its crypto wallet, SovereignWallet is in the process of developing something it calls the MUI Meta-Blockchain – a network which is claimed to fully embrace the philosophy of Satoshi Nakamoto, the founding father of Bitcoin. A memorandum of understanding has been signed with a University of Southern California in the US to help it achieve its vision – and in the long-term, it is hoped that its infrastructure will go a long way in helping to “create a society in which wealth is distributed more evenly.”
SovereignWallet also has other features in the pipeline – including plans to partner “with the world’s top decentralized exchanges to deliver scalability, interoperability, and sustainability.” Further, it plans to allow users to purchase a range of cryptocurrencies via its own decentralized exchange.
The post Crypto Wallet Says It Offers ‘World’s Fastest Bitcoin Transfer’ as New Feature Launches appeared first on NewsBTC.
Coinbase Moves $5 Billion, Reports Largest Crypto Transfer on Record
n Coinbase reports completing the largest crypto migration on recordn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Huobi is Getting Ready to Launch and Transfer Operations to Its Public Blockchain
Blockchain technology has been around for a while now. Even so, the technology is still considered to be in its infancy.
Over the years, the industry has gone through dramatical changes. Most of them came after the introduction of cryptocurrencies. At first, there was only Bitcoin that has quickly started to rise in popularity and value. It became the representative of the first generation of digital coins. Several years later, Ethereum was launched and it became the biggest blockchain of the second generation.
Now, cryptocurrencies are at the peak of their popularity and will likely become even more significant in years to come.
After Bitcoin’s appearance, a need to trade coins emerged as well, and cryptocurrency exchanges were born. In 2013, cryptocurrency exchange called Huobi was launched. At the time, it was considered to be a venture with a lot of potentials. Despite this, it was still a risky move. But, Jun Du, its co-founder, felt like it was the right one to make, reports ZDNet.
Now, five years later, Huobi is the third-largest cryptocurrency exchange in the world by trading volume. It was also the largest one in China, before the country’s ban on cryptocurrency trading. The ban forced Huobi to move to Singapore.
Public Blockchain and DAO
Public blockchain is a type of blockchain that has no restrictions regarding access. Everyone can connect to it, make transactions, or become its validator. Public blockchain is used by Bitcoin, Ethereum, and similar cryptocurrencies. It introduced the concept of ICOs and provided startups with a new way of raising capital.
Public chains also allowed DAOs (Decentralized Autonomous Organizations) to appear. Even Huobi itself plans to transfer its operation to Huobi Chain Project and become a DAO after the project is complete. DAO will replace a traditional form of management with communities and codes. In short, all decision making will be done through community votes with no centralized authority.
Huobi even has plans for the future expansion of this project. But for all this to succeed, there needs to exist a healthy ecosystem, proper security, and matching technology. At some point in the future, all industries will have their chains. When that time arrives, the goal is to merge them into a single blockchain network.
The network would connect celebrity businesses, gaming, financial industry, healthcare, and everything else.
Huobi is also working on expanding its reach globally, which is why it is opening exchanges in different countries. These include the U.S., South Korea, and many more future projects. With all of them working together, Huobi plans to help blockchain technology expand and reach mass adoption.
Featured image from Shutterstock.
The post Huobi is Getting Ready to Launch and Transfer Operations to Its Public Blockchain appeared first on NewsBTC.
Money Transfer Firms Join Ripple’s Payment Network
Two money transfer firms are to open a new payments corridor using RippleNet, while a Kuwaiti bank has also signed up to use the service.
CoinDesk
Coinone Transfer Joins RippleNet to Revolutionize Cross-Border Payments
Ripple continues to make a lot of headlines with its proprietary technology. Various banks around the world have shown a keen interest in RippleNet. This solution is of great value to financial firms, but also cryptocurrency service providers. South Korea’s CoinOne Transfer is getting on board with this technology for cross-border payments and settlement.
RippleNet and xRapid Are of Great Interest
Ripple’s native products can bring a lot of positive changes to the financial sector in the years to come. The company’s RippleNet venture has attracted a lot of attention. Through this initiative, companies can experiment with Ripple’s xRapid technology for payments and settlement. It makes use of the native XRP asset to complete such transactions in mere seconds.
Several remittance providers are in the process of trialing xRapid. This list includes Western Union, MoneyGram, and MercuryFX among others. The latter company recently confirmed its initial trial of this technology was successful. They are now in the process of expanding upon this test and taking the venture to a whole new level.
In Q1, along with other xRapid pilots customers, we have proved that #xRapid can lower liquidity costs & increase payment speed and transparency using #XRP. We are looking forward to continued successful testing and going into production.https://t.co/hlYDcFyG7o
— Mercury-fx Ltd (@mercury_fx_ltd) April 26, 2018
With CoinOne Transfer now getting on board, xRapid will continue to impact the cryptocurrency world. CoinOne Transfer is a subsidiary of CoinOne, the South Korean exchange. They are the first exchange in the region to effectively experiment with Ripple’s technology and solutions. With RippleNet, the company aims to delve deeper into the cross-border payments industry.
South Korea has High Hopes for Ripple
This most recent development makes a lot of sense. South Korean firms have shown a keen interest in Ripple and its products. CoinOne is a part of the DAILY Financial Group. A subsidiary of this Group signed a deal with SBI Ripple Asia in 2017. This further confirms the Asian country wants to embrace blockchain technology in creative ways.
With remittance outflows from South Korea increasing rapidly, blockchain can play a big role; of importance. Ripple will have its role to play, as their xCurrent project will be the core of a new remittance service known as “Cross”. This service is available to CoinOne Transfer retail customers and provides faster and cheaper payments. Coinone Transfer CEO Wonhee Shin is confident xCurrent will “revolutionize” the lives of customers.
Ripple’s director of joint venture partnerships Emi Yoshikawa is excited by these developments. CoinOne attempts to revolutionize the way money moves, and blockchain can make positive things happen in this regard. With xCurrent underpinning the company’s new remittance service, new opportunities can be explored accordingly. Slowly but surely, blockchain-based technology and services continue to make inroads in the financial sector.
Image from Shutterstock
The post Coinone Transfer Joins RippleNet to Revolutionize Cross-Border Payments appeared first on NewsBTC.