TikTok Owner Reportedly Working With Chinese State Media on Blockchain

Owner of popular social media app TikTok has launched a joint venture with a state-owned Chinese media group to develop business lines for blockchain and AI. Owner of major social media app TikTok, ByteDance, has launched a joint venture with state-owned Chinese media group and ThePaper.cn operator Shanghai Dongfang Newspaper to develop business models that include blockchain and artificial intelligence (AI), Bloomberg reported on Dec. 14.  TikTok may use blockchain and AI to fight Deepfakes The joint venture was launched in the capital of eastern China’s Shandong province, Jinan, on…

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Europe’s New Regulations Force Bitcoin Service Bottle Pay to Shut Down

Recently funded social media Bitcoin transfer service, Bottle Pay, is shutting down citing new AML regulation in the EU as the reason. The Bottle Pay service, which allowed users to send Bitcoin (BTC) via social media accounts, announced on Dec. 13 that it would be shutting down due to Anti-Money Laundering (AML) regulations.  Funds will remain available for withdrawal until 13:00 GMT on Dec. 31, 2019. New user data collection would negatively impact user experience Bottle Pay, developed by United Kingdom-based company Block Matrix, enabled Bitcoin payments to any social…

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Price Analysis Dec 13: BTC, Cryptos Prepare for Possible ‘Santa Rally’

Data shows that whales and institutional investors accumulated Bitcoin throughout its 2-year long bearish phase, should retail investors follow? Data from CoinMetrics shows that crypto whales now hold 42.1% of Bitcoin’s current supply. This is a slight increase compared to 37.9% two years back and analysts have interpreted the increase as a positive sign, as it shows large investors have been accumulating Bitcoin during its bear phase. There is, however, no major change in the top 1,000 addresses, as their holdings only inched up from 34.4% at the end of 2017…

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Blockchain Pilot Makes Waves in Russia’s Energy Sector

Russian tech startup Waves announced it has been testing a blockchain solution for payments in the retail electricity sector. Earlier this week, Russian tech startup Waves announced it has been testing a blockchain solution for payments in the retail electricity sector. The pilot program was initiated by Rosseti, Russia’s national energy grid operator, which is looking to automate and make transactions between energy producers, suppliers and consumers more transparent. Now that the first stage has been successfully completed, the partners will proceed to scale up their efforts. Ultimately, they envision…

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New York AG Finds It ‘Perverse’ For Bitfinex and Tether to Criticize Investigation

New York Attorney General continues to push to investigate the alleged multimillion dollar coverup involving Bitfinex and Tether. In a filing with the New York State Supreme Court’s Appellate Division, New York Attorney General Letitia James roundly criticized the efforts of Bitfinex and Tether to halt her office’s investigation into the companies. Bitfinex and Tether are under investigation for an accounting coverup in which Bitfinex is alleged to have improperly transferred $625 million that had been backing the Tether stablecoin in order to conceal Bitfinex’s liquidity shortfall. In the filing…

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Ripple-Based Remittance Firm SendFriend Claims to Save Up to 80% in Fees

Blockchain-based money transfer startup SendFriend utilizes Ripple’s technology to save up to 80% in remittance fees. Blockchain-based money transfer startup SendFriend utilizes Ripple’s technology to save up to 80% in remittance fees, according to a blog post published on Dec. 12. SendFriend uses Ripple’s xRapid product for cross-border payments, converting between the United States dollar, XRP and Philippine pesos and circumventing the longer process of traditional banking systems. Philippines-focused remittance platform SendFriend’s money transfer app aimed at reducing annual remittance fees for cross-border Filipino workers claims to lower such transaction…

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QuadrigaCX Victims Request Proof of Gerald Cotten’s Death By Exhuming Body

Law firm Miller Thomson wants to exhume the body of Gerald Cotten, the deceased owner of now-defunct Canadian crypto exchange QuadrigaCX. Canadian law firm Miller Thomson has made a request to the Royal Canadian Mounted Police (RCMP) to conduct an exhumation and post-mortem autopsy on the body of Gerald Cotten, the deceased owner of the now-defunct Canadian crypto exchange QuadrigaCX. On Dec. 13, the Miller Thomson lawyers explained in a letter to the RCMP that the request to exhume and examine Cotten’s body was appropriate given the “questionable circumstances surrounding…

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Bitcoin Miner Canaan’s Shares Plunge 40% Since IPO in November

Chinese Bitcoin mining giant Canaan Creative’s shares have seen a 40 percent drop in value since its initial public offering in November. Chinese Bitcoin (BTC) mining giant Canaan Creative’s depositary shares have seen a 40 percent drop in value since November initial public offering (IPO). Canaan was the first Bitcoin mining giant to go public on a major United States stock exchange, and successfully navigate an IPO. However, the mining giant’s stock has taken a severe beating since its IPO on Nov. 21. The company’s stock price value went as…

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Bitcoin Price Short-Term Indicators Hinting at $7.4K Weekend Bounce

Bitcoin price is attempting to rebound from this week’s slump as it heads into the weekend that might see a relief rally, but don’t bet the farm just yet. The price of Bitcoin (BTC) has headed north over the last 24 hours, up over 1% at $7,272. As a result, each of the major cryptocurrencies has followed the market leader with the total cryptocurrency market cap reaching $198 billion and BTC dominance remaining steady at 67% of the total market. In other words, Bitcoin’s market cap now stands at $132…

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200K Users ‘Already in Line’ for Robinhood’s Fractional Stock Trading

As Robinhood plans to allow its users to buy slices of shares at $1, over 200,000 users have expressed their intent to use the service. More than 200,000 Robinhood clients have already expressed their intent to use its new fractional stock trading app announced yesterday. Vladimir Tenev, co-founder at Robinhood, said that the clients were “already in line” for the app, considering the early signs as “really promising,” CNBC reports Dec. 13. After Robinhood’s user base recently crossed 10 million accounts, the firm is now valued at $7.6 billion and…

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