Tuesday, April 23, 2019
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Algorand Expands Testnet Platform to Public Ahead of June Mainnet Release

The platform had previously undergone a private testnet release and will now gather feedback from users. Digital currency and transaction platform Algorand has released its public testnet to gather feedback on its product, the company confirmed in a press release on April 16. Algorand, the brainchild of Massachusetts Institute of Technology (MIT) professor Silvio Micali, seeks to build an app development platform for enterprises. The project previously obtained $66 million in funding, releasing the testnet to a limited group of participants prior to the public rollout. Among them was Top Network, a decentralized cloud communication service which subsequently formed a partnership with Algorand to develop its own user offerings. As Cointelegraph reported, Alogrand’s forthcoming ERC-20 token sale was the subject of controversy earlier this month when one cryptocurrency exchange, Bgogo, announced it would trade tokens before they exist. Bgogo subsequently changed its approach after the co..

Unocoin Reduces Staff by 50% Ahead of Indian Supreme Court Cryptocurrency...

The exchange, like others in India, faces an ongoing stranglehold on operations by the central bank. Indian cryptocurrency exchange Unocoin has fired half its staff, leaving the company with 14 workers, Indian daily news outlet The Economic Times reported on April 16. Citing regulatory uncertainty in the industry, Unocoin said it had made the decision prior to a Supreme Court hearing on cryptocurrency’s legal status in India, set for July. As Cointelegraph reported, exchanges in the country have faced a moratorium on banking services since the central bank, the Reserve Bank of India (RBI), implemented a ban on dealings with crypto businesses last year. The industry is in the process of fighting RBI’s decision, which has taken the form of a lengthy Supreme Court process. Since its peak, Unocoin has fired over 80% of its staff, and is currently running off capital reserves as executives await news about the future. “We did ask people to leave last week, but our operations will continue ..

Rakuten Begins Registrations for Cryptocurrency Exchange Ahead of June Launch

Prospective users can apply for an account using an automated online process detailing requirements. Japanese internet giant Rakuten has begun letting prospective users of its Rakuten Wallet cryptocurrency exchange open accounts, Cointelegraph Japan reported on April 15. Rakuten, which plans to launch the exchange in June, now offers online registration for traders, all of whom need a Rakuten user ID and associated bank account to complete the process. The company took over Everybody’s Bitcoin platform in 2018, introducing changes that allowed it to procure a license for the operation from Japanese regulators in December. Everybody’s Bitcoin had previously been cited by regulators for deficiencies in management control. Rakuten joins a steady stream of major players preparing an entry into the domestic cryptocurrency scene, among them Yahoo! Japan, which owns 40% of forthcoming platform TaoTao, set for launch in May. Others have added to their existing features to respond to user dema..

Crypto Markets See Green, US Stock Futures Solid Ahead of Goldman,...

After yesterday’s mixed movements, all of the top twenty cryptocurrencies are seeing solid green on the day to press time, with Bitcoin approaching $5,200. Monday, April 15 — after yesterday’s mixed movements, all of the top twenty cryptocurrencies are seeing solid green on the day to press time, seeing growth of between one and 10%, as Coin350 data shows. Market visualization courtesy of Coin360 Bitcoin (BTC) is up around 1.5% on the day and is trading just under $5,200 by press time, according to CoinMarketCap. After hitting a multi-month price high of over $5,420 on April 10, the price of Bitcoin has subsequently corrected downwards — briefly dipping back below the $5,000 mark on April 12. The top coin has since seen mild renewed growth in recent days, mostly trading sideways since mid-week. Today’s price point has brought Bitcoin’s weekly losses to a little over 1%. Bitcoin 7-day price chart. Source: CoinMarketCap The largest altcoin by market cap, Ethereum (ETH), is also up ab..

US Reps Urge IRS to Clarify Reporting of Crypto Taxes Ahead...

U.S. Congressmen sent a bipartisan letter to the IRS asking to clarify the basics of crypto tax reporting. Members of the United States Congress sent a joint request to the Internal Revenue Service (IRS) to provide clarity on reporting crypto taxes, according to an announcement on April 11. 21 different representatives sent a bipartisan letter to the U.S. tax authority requesting guidance on how to report virtual currency taxes. The action took place before the filing deadline for federal income tax returns on April 15, 2019. In the letter, the representatives mentioned the IRS’s previous efforts to establish a tax treatment for virtual assets. The letter noted that the IRS’ approach to virtual property and currency transactions was one of the most serious problems encountered by taxpayers back in 2008. The lawmakers also noted that the IRS released guidance in 2014, but the Inspector General for Tax Administration found it lacking and recommended better guidance for how various virtu..

Cybersecurity Firm WISeKey Subsidiary Nets $7 Mln in Pre-STO Investment Ahead...

The company’s WISeCoin spin-off plans to raise a total of around $17.5 million in the upcoming token offering. A subsidiary of Swiss cybersecurity and blockchain firm WISeKey has raised $7 million in an pre-funding round prior to launching a security token offering (STO), the company confirmed in a press release on April 11. WISeCoin, which came into being in August last year, plans to conduct the STO in Q2. Responsible for managing all of WISeKey’s blockchain initiatives and operations, the vertically-integrated platform intends to raise a total of 17,587,527 Swiss francs ($17,563,695) to expand its activities. These include the use of various disruptive technologies, specifically focusing on the Internet of Things (IoT) given WISeKey’s major presence as a semiconductor chip manufacturer. “One of WISeCoin's key (milestones) is to build a Blockchain of Identity to store the identities of objects and people allowing connected objects the ability to identify, authenticate and verif..

Cryptocurrency Exchange ‘IEO’ Draws Suspicion for Plans to Sell Tokens Ahead...

Bgogo intends to offer what are essentially IOUs on tokens from Algorand, a project only slated to launch in June. Digital currency and transaction platform Algorand has refused to endorse an attempt by cryptocurrency exchange Bgogo to sell its unreleased tokens, executives confirmed on social media on April 8. Algorand, which intends to launch its product in June along with its native ERC-20 token, issued a formal warning about the plans, which Bgogo has since confirmed are genuine in a blog post. Known as an “initial exchange offering” (IEO), the Algorand event notionally allows Bgogo traders to purchase exposure to the platform’s token, despite the fact that it does not yet exist. Bgogo will set an arbitrary price for the tokens, essentially trading an IOU ahead of the official release. According to Algorand, however, the exchange has not entered into any form of official agreement with the company, and its efforts are not condoned. “To be clear: The (Algorand) Network has not yet ..

ETH and TRX Prices Spike Ahead of Unexpected Partnership Between TRON...

The price of Ethereum (ETH) and Tron (TRX) has reacted to the latest cryptocurrency news today that Justin Sun, the CEO of TRON expects his blockchain to collaborate with Ethereum founded by Vitalik Buterin. In cryptocurrency news today analysis, we discuss how a potential partnership between Ethereum and Tron will impact the price of ETH and TRX. Justin Sun Says TRON (TRX) will collaborate With Ethereum (ETH) During a podcast with The Crypto Chick on April 6, the enigmatic Justin Sun said that Tron and Ethereum developers could collaborate in the future in a bid to make the industry better. Sun, who has consistently bashed ethereum in the past and earned the enmity of Buterin suggested that he was open to working with Ethereum developers and platforms built on the ethereum blockchain. He said: “I think in the future we will even collaborate with lots of Ethereum developers and also the enterprises built on Ethereum before to make the industry better.” The rivalry between Justin Su..

Crypto Markets Slow Down Ahead of Key Resistance; BNB on Fire!...

After a brief midweek price surge, most of the top cryptocurrencies are beginning to settle into their now familiar prices. While a lot of coins have recovered from the losses of last week, they fell short of breaking key resistance points. Its anywhere from here at the moment. However, one coin is still wowing the market. Enter Binance Coin (BNB). It appeared to slow a bit yesterday but is now leading performance in the top 10 category flipping Tether USD to 7th place on the rankings. Yesterday’s leader Litecoin (LTC) seemed to have slowed a bit in the last 24 hours although it’s still 20% up since last week amidst news of Litecoin Core v0.17.1 RC1 release. Crypto Market Summary Binance coin (BNB) is best performing top cryptocurrency with 14 percent gains Bitcoin Dominance at 51.6% Little changes for top 20 coins in the last 24 hours analysis Coins are dropping price in hourly analysis Except for LTC and BNB, top cryptos are largely unchanged week-on-week Total crypto market capita..

Crypto Markets Trade Sideways, Gold Tries to Find Direction Ahead of...

Most of the top ten coins are in the red, with losses over the 24 hour period at or below three percent Tuesday, Feb. 5 — cryptocurrency markets are trading sideways and reporting mild losses. Bitcoin (BTC) is struggling to stay in the green, while other major coins are experiencing a downward trend. Market visualization from Coin360 The leading digital currency BTC is trading at around $3,468 at press time, having gained a modest 0.16 percent on the day. On its weekly chart, BTC is up0.56 percent, with its lowest price point around $3,400 on Jan. 29, and the highest at $3,521 on Feb. 2. Bitcoin 7-day price chart. Source: CoinMarketCap Top altcoin Ripple (XRP) has lost about 0.59 percent during the last 24 hours, and is trading at $0.299 at press time. In terms of its weekly performance, the altcoin began to see a slight decline after reaching its 7-day high price point of around $0.332 on Jan 30. Ripple 7-day price chart. Source: CoinMarketCap The third largest coin by market capit..
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