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Crypto Markets Tumble as SEC Rejects Winklevoss Twins’ Second Bitcoin ETF Application

Crypto markets have taken a sharp downturn, today, July 27, with all of the top ten coins by market cap hit by hefty losses and Bitcoin (BTC) dipping back below the $8,000 psychological price point, as data from Coin360 shows. The grim market picture is likely due to yesterday’s breaking news that the Winklevoss Twins’ application for a Bitcoin exchange-traded ...

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Poloniex Is Officially in Trouble After Ignoring Hoards of Complaining Customers

On July 25, the Department of Justice (DoJ) showed its interest in Poloniex — a Delaware-based cryptocurrency exchange platform — in a rather unexpected fashion: Chief Special Investigator of the Investor Protection Unit (IPU) Craig Weldon emailed a number of Poloniex users, asking them to respond if they have any difficulties with their account. The request wasn’t unjustified as, over ...

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Crypto Exchange Coincheck’s Owner Monex Reveals Plans to Open US Trading Platform

Online broker Monex Group, which bought out hacked Japanese cryptocurrency exchange Coincheck this spring, plans to launch a U.S.-based trading platform, Cointelegraph Japan reported today, July 27. A summary of data from a financial briefing held Friday confirms plans to establish TradeStation Crypto Inc. as a cryptocurrency-focused subsidiary of securities brokerage firm TradeStation, which Monex acquired in 2011. As Cointelegraph ...

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HashFlare’s Exit and the Future of Cloud Mining

Cloud mining — a service that enables individual users to lease hashing power from dedicated cryptocurrency mining operations — came forth as professionalization and cartelization of the mining business began to drive out smaller and insufficiently equipped players from the scene. Since there is no way to verify that the share of the mining rig you are supposedly leasing actually ...

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Indian State of Telangana to Sign MoUs With Blockchain Firms, Streamline Gov’t Services

The Indian state of Telangana announced it will sign several memoranda of understanding (MoUs) with blockchain firms as to eventually implement the technology in state applications, local Indian news agency the Business Standard reports July 26. Telangana IT Secretary Jayesh Ranjan revealed that the state is planning to enter into MoUs with a number of blockchain-focused firms in order to ...

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Crypto Merchant Bank Galaxy Digital Lost $134 Million in The First Quarter of 2018

Mike Novogratz’s crypto-focused merchant bank Galaxy Digital released its first quarter report for 2018, posting a $134 million loss as cryptocurrency markets slumped, according to Bloomberg July 26. Galaxy Digital lost $13.5 million in its trading business, with $85.5 million of unrealized loss on digital assets, $1.1 million in paper losses on investments, and $22.9 million in paper loss on ...

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South Carolina State Regulators Withdraw Enforcement Actions on Two Blockchain Startups

The Securities Division of the Office of the Attorney General of South Carolina has removed cease-and-desist orders against two blockchain startups, according to public documents published July 26. Today’s order removed a cease-and-desist order filed by the South Carolina Attorney General’s office against shipping platform ShipChain for violating the state’s securities statutes on May 21. Regulators initially accused the firm ...

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CME Will Not Introduce Altcoin Futures Anytime Soon, Says CEO

The Chicago Mercantile Exchange (CME) will not introduce futures on cryptocurrencies other than Bitcoin (BTC) in the near future, CME CEO Terry Duffy revealed in an interview with Bloomberg July 26.   In the interview, Duffy said that the company should first evaluate and develop an approach for Bitcoin, stressing that Bitcoin futures “might have been the most controversial launch of ...

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