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Third-Largest Crypto Exchange Huobi’s Derivative Market Now Includes EOS

The Huobi Derivative Market has added EOS contracts, which allows traders to take both long and short positions on the cryptocurrency. Cryptocurrency exchange Huobi’s derivative market now supports altcoin EOS, according to an official press release shared with Cointelegraph on Dec. 28. Huobi is currently the third-ranked cryptocurrency exchange by adjusted volume on CoinMarketCap, with around $505 million in 24 hour volume at press time. Traders will reportedly be able to take both long and short positions on EOS. The decision to create the derivative contract is part of the exchange’s “ongoing efforts to address customer demand.” According to the press release, the contract will support price limit, order limit and position limit orders at up to 20x leverage. The fees for trading the EOS derivative on the Huobi Derivative Market will be 0.02 percent for makers and 0.03 percent for takers to both open and close positions. At press time, EOS is trading at around $2.35, down a little m..

Coinbase Moves $5 Billion, Reports Largest Crypto Transfer on Record

Coinbase recently made what it claims is the biggest cryptocurrency transfer on record, moving about $5 billion. Major cryptocurrency exchange and wallet Coinbase recently made what it claims is the largest transfer of crypto on record, a company blog post reports Dec. 19. According to the post, 5 percent of all Bitcoin (BTC), 8 percent of all Ethereum (ETH), and 25 percent of all Litecoin (LTC), along with “many other assets” were moved to new cold storage infrastructure in what the firm “believe[s] is the largest crypto migration on record.” Coinbase reports that last week, the firm “completed an on-blockchain migration of approximately $5 Billion (as valued the week ending Dec. 7, 2018) of cryptocurrency from Generation Three to Generation Four of our cold storage infrastructure.” The latest storage system — which the company reportedly uses for all its cold storage — begins with a “highly controlled and audited key generation process and continue[s] with a globally distributed key..

Second Largest Exchange OKEx Launches New Crypto Derivative Product

Major cryptocurrency exchange OKEx has launched a new crypto derivative product called “Perpetual Swap.” Malta-based major cryptocurrency exchange OKEx has launched a new crypto derivative product, according to a press release shared with Cointelegraph, Dec.19. As Cointelegraph reported at the beginning of the month, the new product, dubbed Perpetual Swap, is a virtual derivative that lets users speculate on the future value of BTC/USD, according to OKEx’s index. Per the release, currently each swap contract has a notional value of $100 equivalent in Bitcoin (BTC) and features leverage ranging from 1x to 100x. Moreover, perpetual swaps reportedly have no expiration, meaning “positions can be held indefinitely.” OKEx is currently the world’s second largest exchange by adjusted daily trade volume, seeing over $1 billion in trades on the day to press time. New cryptocurrency derivative products are also in the works from traditional financial firms. As per a Cointelegraph report, the wor..

Korean Gov’t Pilots Blockchain for Logistics Innovation in Country’s Largest Port

Two South Korean government ministries have launched a blockchain pilot for port logistics innovation and the country’s container shipping industry. Two South Korean government ministries have launched a blockchain pilot for port logistics innovation, according to a press release from the country’s Ministry of Science, ICT and Future Planning (MSIT), published Dec. 18. MSIT, together with the Ministry of Oceans and Fisheries, are reportedly testing whether the technology can make Korea’s container shipping industry more efficient. As the press release outlines, the pilot will run over a period of one year in the Port of Busan, the country’s largest port, and the fifth busiest container port worldwide. The initiative aims to ascertain whether leveraging blockchain technology can successfully increase transparency between all parties in the logistics industry, streamline administrative processes in import and export operations and allow for real-time data sharing. Both ministries have r..

Ripple Enters Partnership With GMT, The Largest Financial Firm In Israel 

Even as the crypto market searches for a bottom, Ripple continues to make major expansion moves across the globe. The company recently made a move in Israel by entering into a partnership with the 5th largest financial institution in the world and the largest bank in Israel, GMT. This is all in a bid to boost the financial industry there and consolidate the company’s dominance in the region. GMT issued a public announcement stating that both companies share a similar philosophy and this has helped them to reach mutually beneficial terms after discussing in details. Part of the announcement was as follows: “After a precise and long discussion process, GMT has decided to chose Ripple. By working with Ripple and its partners, we would contribute in creating a global financial system using high-end values and technology that will be affordable and transparent.” The GMT team was happy with the partnership stating that the use of Ripple’s technology is an innovation that will be imitated ..

Report: CEO of Largest Romanian Crypto Exchange Arrested on US Warrant

The CEO of Romanian crypto exchange Coinflux was reportedly arrested for alleged fraudulent activity. The CEO of Romania's largest crypto exchange Coinflux was reportedly arrested on a warrant from the United States for fraud, organized crime, and money laundering, local news outlet Mediafax reported Dec. 13. Coinflux has subsequently stopped all digital currency exchanges. Founded in 2015 in the Romanian city of Cluj, Coinflux is an online digital currency trading platform, with reportedly more than 200 million euro worth of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) in transactions. Vlad Nistor, the CEO and founder of Coinflux, was supposedly arrested on the territory of Romania upon the request of U.S. prosecutors. Nistor is accused of alleged fraudulent activity, organized crime and money laundering. The issue of extradition of Nistor to the U.S. will reportedly be heard by the Appeals Court of Bucharest. Following the purported arrest, Coinflux published..

Germany’s Second Largest Stock Exchange, SolarisBank Partner to Launch Crypto Exchange

SolarisBank and Stuttgart Exchange Group are jointly developing a crypto exchange meant to be launched in the first half of next year. SolarisBank and Stuttgart Exchange Group are jointly developing infrastructure for a cryptocurrency exchange, Cointelegraph Germany reports Dec. 12. The Stuttgart Exchange, founded in 1860, is the second largest stock exchange in Germany and the ninth largest in Europe. SolarisBank, on the other hand, is a German fintech company established in 2015 that holds a banking license and offers a “Banking as a Platform” service. This news goes along with the plans announced by the exchange in May to release a zero-fee cryptocurrency trading application. The two companies’ crypto exchange, “which is scheduled to launch in the first half of 2019,” will have SolarisBank acting as the exchange’s banking platform. Roland Folz, the CEO of SolarisBank, declared that “a reliable and efficient trading platform is an elementary contribution to [their] vision of a hybri..

South Korea’s Second Largest Bank Begins Blockchain Record-Keeping to Reduce Human...

South Korea’s Shinhan Bank wants to reduce human error in its processes as part of a multi-phase hook-up with blockchain technology. South Korea’s second-largest commercial bank, Shinhan Bank, has embarked on a project to implement blockchain in internal processes to decrease human error. The initiative was reported by English-language daily news outlet The Korea Times on Dec. 10. Shinhan, which has sought integration with both the blockchain and cryptocurrency spheres over the past eighteen months, also completed a staff training program to increase knowledge of blockchain for various applications. According to The Korea Times, the bank implemented interest rate swap transactions using the technology on Nov. 30 in what it called a “first” for a South Korean lender. Now, operations such as financial record-keeping are set to become automated, removing the chances of human-based mistakes and enhancing overall efficiency. “Prior to the blockchain-based process, there had been no standar..

Bitcoin Faces Second Largest Difficulty Drop in History After Latest Adjustment

Bitcoin mining difficulty saw its second largest drop in its history, surpassed only by a -18 percent adjustment in late October 2011. Bitcoin’s (BTC) mining difficulty saw its second largest drop in history, with a -15 percent adjustment on Monday, Dec. 3, as per data provided by major Chinese mining pool BTC.com. Bitcoin’s hashing difficulty algorithm is normally adjusted every two weeks to maintain the normal 10-minute block time. It has been adjusted for the second time today since the beginning of a so-called “crypto winter” in mid-November, after which the difficulty in mining Bitcoin has been steadily dropping. The most recent adjustments of Bitcoin’s hashing difficulty. Source: btc.com The largest drop in Bitcoin’s difficulty history happened on Oct. 31, 2011, with an adjustment of -18 percent, while another decrease (-13 percent) in mid-October 2011 is the third largest such decrease. A recent adjustment of Bitcoin’s hashing difficulty was preceded by a massive market drop, ..

Korea’s Largest Internet Firm Kakao Is Running a Crypto ICO That...

Kakao is close to completing the private sale of its cryptocurrency called Clay, raising $300 million. Kakao, South Korea’s largest internet conglomerate that operates applications and have nearly a 90 percent dominance in their respective markets, is running an Initial Coin Offering (ICO) to raise funds for its blockchain project called Clay. In March, Kakao released its initial attempt to conduct a token sale by establishing an entity in Switzerland. But, with resistance from the Financial Services Commission (FSC), the corporation was not able to pursue its plans. With no changes made to the regulatory framework regarding ICOs in South Korea, how has Kakao been able to raise funds to create a blockchain project? Private SaleOn Nov. 19, The Hankyoreh — a business-focused mainstream media outlet in South Korea — exclusively reported that Kakao is planning to raise around $300 million to develop its own token. A source told the local publication that the majority of the funds have alr..
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