Bank of America Could Store Crypto Deposits for Big Companies

Despite their harsh exterior, banks have been quietly preparing for a world that involves cryptocurrencies. Bank of America has most recently secured a patent for a cryptocurrency aggregation system, one in which big companies store customers’ crypto deposits in an enterprise account involving vaults and offline storage rather than taking on the risk themselves. For example, “deposit accounts at an enterprise, such as a financial institution, are used by customers of the financial ...

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Craig Wright Threatens Poloniex Over Its Pre-Fork Bitcoin Cash Trading

Poloniex, a top-15 cryptocurrency exchange by trading volume, recently began offering users the option to trade the two planned Bitcoin Cash (BCH) protocols pre-fork: Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV). Since trading began, Craig Wright’s BCHSV has significantly underperformed Amaury Séchet’s BCHABC, suggesting the market is currently betting on the latter to succeed. Predictably, not everyone is pleased by the pre-fork trading. Wright has taken to Twitter to rebuke Poloniex for offering naked shorts, suggesting ...

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SEC Charges EtherDelta Founder with Operating Unregistered Exchange

The US Securities and Exchange Commission (SEC) has charged the founder of decentralized Ethereum exchange (DEX) EtherDelta with operating an unregistered exchange. As a DEX, the crypto trading platform allowed users to trustlessly trade Ethereum-based tokens without registering accounts or entrusting their funds to an exchange-controlled wallet. Trading was managed by a smart contract, though the exchange relied on off-chain infrastructure maintained by its operator. According to the SEC, the EtherDelta platform illegally allowed users to ...

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Bitcoin Mining Market Still Strong as Shown by Bitfury’s $1 Billion Valuation

This week, Bitcoin mining equipment manufacturer and blockchain software firm Bitfury secured a valuation of $1 billion from billionaire investor Mike Novogratz and Korelya Capital’s $80 million investment in the firm. The multi-million dollar funding round comes after the release of Bitfury Clarke, the firm’s new Bitcoin ASIC miner, designed to compete against Bitmain’s new equipment, the 7nm Antminer. Valery Vavilov, the CEO of Bitfury, stated that the demand for the blockchain and crypto in general ...

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