BaFin Orders Gold-Backed Token Issuer and Alleged Ponzi Scheme to Cease-and-Desist

BaFin has issued a cease-and-desist order to Karatbit Foundation to immediately stop unauthorized e-money business in Germany based on the issuance of the KaratGoldCoin. The German Federal Financial Supervisory Authority (BaFin) has issued a cease and desist order to Karatbit Foundation to immediately stop unauthorized business in Germany.  BaFin alleges that Karatbit Foundation is issuing the KaratGoldCoin (KBC) without the necessary license, according to a Nov. 11 announcement. Karatbit describes itself as a provider of a blockchain-based payment system that enables users to conduct transactions with gold, as well as…

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Tron Founder Justin Sun Admits to Investment in Crypto Exchange Poloniex

Tron founder Justin Sun admitted to being one of the investors that recently acquired cryptocurrency exchange Poloniex from financial technology firm Circle. Tron (TRX) founder Justin Sun admitted to being one of the investors that recently acquired cryptocurrency exchange Poloniex from financial technology firm Circle. Sun said he was one of the investors who acquired the trading platform in a livestream published by the official Poloniex Twitter profile on Nov. 12. Furthermore, he noted that the exchange operates independently from his firm, the Tron Foundation. In October, Sun refuted reports…

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NEO Founder Explains Why the Internet Is Imperfect

BlockShow Asia started with the discussion on the future of Internet, offered by the founder of NEO. Kicking off the first panel of BlockShow Asia 2019, NEO founder Da Hongfei shared his views on the current state of decentralized web: “The internet is a great invention. It looks almost perfect. But is it really?” Citing examples like the Cambridge Analytica scandal and the Equifax hack, he highlighted a critical isolation problem plaguing the Web, leading to monopoly, centralization, abuse, and single points of failure.  He brought up other challenges, including…

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Travel Company Allows Customers to Book Flights With Bitcoin

United Kingdom-based travel company now allows customers to pay with cryptocurrencies to book a flight. Alternative Airlines, a travel company based in the United Kingdom, has partnered with cryptocurrency service Utrust to facilitate payments with crypto. On Nov. 13, the Swiss-based digital payments processor Utrust announced a new partnership with its first merchant in the travel industry, Alternative Airlines. The two companies plan to provide customers with the ability to book flights while paying with cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Dash, DigiByte (DGB) and Utrust’s native token UTK. …

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Canaan Creative Sets Terms, Plans to Rake in $100 Million in Upcoming US IPO

Chinese cryptocurrency mining giant Canaan Creative aims to raise $100 million in its United States initial public offering planned for this month. Chinese cryptocurrency mining giant Canaan Creative has announced terms for its United States initial public offering (IPO) planned for later this month. On Nov. 13, Renaissance Capital reported that Bitcoin (BTC) mining giant Canaan Creative announced its plans to raise $100 million by offering 10 million American depositary shares (ADS) at a price range from $9 to $11. This would potentially put the company’s overall market value at…

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Cointelegraph Moderates First Crypto Media Gathering at BlockShow Asia 2019

Crypto media should welcome skepticism, medialogue attendees conclude. The pace of the crypto market’s expansion would have been much slower without the contribution of dedicated media outlets. Google searches for terms like “Bitcoin” and “blockchain” skyrocketed in the last few years — alongside the spike in crypto prices. This suggests that people have a thirst for understanding more about how cryptocurrencies and blockchain work, and it is the job of the media to provide accurate information and market updates. Nevertheless, gathering high-profile crypto journalists and media representatives under the same…

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BaFin Orders Gold-Backed Token Issuer to Cease-and-Desist Order

BaFin has issued a cease-and-desist order to Karatbit Foundation to immediately stop unauthorized e-money business in Germany based on the issuance of the KaratGoldCoin. The German Federal Financial Supervisory Authority (BaFin) has issued a cease and desist order to Karatbit Foundation to immediately stop unauthorized business in Germany.  BaFin alleges that Karatbit Foundation is issuing the KaratGoldCoin (KBC) without the necessary license, according to a Nov. 11 announcement. Karatbit describes itself as a provider of a blockchain-based payment system that enables users to conduct transactions with gold, as well as…

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How Crypto Assets Are Capturing the Attention Economy

Human attention is a finite resource: we awake each day with it replenished, only for it to seep away through work, leisure, and time frittered idly browsing the web while circumventing ads. Recognizing the scarcity of maintaining human interest, attention economists have devised incentivized systems powered by crypto assets. These reward engagement and turn idle clicks into profitable browsing. Also read: 2 New Blog Sites That Allow Users to Earn Cryptocurrencies Blocktv and Brave Are Spearheading the Attention Economy Scarcity doesn’t just apply to crypto assets that come with a…

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Bitcoin Price Bounces Off Key Moving Average as Bulls Avoid Death Cross

Bitcoin struggles against resistance at the 0.5 Fibonacci level after a brisk bounce off its 50-day moving average as support. Is a drop to $8,000 next? Bitcoin’s (BTC’s) price has been choppy since its October spike to $10,350, giving no clear indications of where its trend will head next. Overall, crypto’s pioneer asset has been fairly uneventful, with many price fakeouts.  Bitcoin’s daily candle bounced off its 50-day moving average (MA) as support on Nov. 12, although the industry’s flagship asset once again faces resistance at its 0.5 Fibonacci retracement…

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Bitstamp Crypto Exchange Expands Into Asia-Pacific Region With New Hire

Luxembourg-based cryptocurrency exchange Bitstamp has hired Andrew Leelarthaepin to lead its business development efforts in Asia. Luxembourg-based cryptocurrency exchange Bitstamp has hired Andrew Leelarthaepin to lead its business development efforts in the Asia-Pacific (APAC) region. In a Nov. 13 press release, Bitstamp announced that Leelarthaepin was joining the company to further expand the exchange’s presence in Asia-Pacific “to meet the growing level of demand for the exchange’s services.”  Bitstamp’s struggle to establish a local presence in Asia Miha Grčar, global head of business development at Bitstamp, said that the crypto…

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