The NYAG Attacks Bitfinex For Pertinent Documents Regarding Tether Case

To start off this cryptocurrency week, the New York Supreme Court Judge Joel M. Cohen ruled that the Bitfinex exchange must provide all pertinent documents to the New York Attorney General (NYAG). Nevertheless, the parent company of the exchange, iFinex will more than likely appeal to this decision.
The judge’s preliminary injunction on the case was previously extended but iFinex has claimed that the NYAG lacked jurisdiction in that case and it strived to bar New York customers from using the service. It later turned out that the state’s residents were still able to gain access to Bitfinex, which is currently associated with the Tether stablecoin.
According to another recent court filing, the NYAG is allowed to continue the investigation since the court denied iFinex’s motion to put a stop to it.

“The Court disagrees with the Petitioner that it is (or can be) premature for the Court to determine whether it has jurisdiction to issue orders impacting the rights of Respondents in this proceeding.”

More than half a million dollars has been spent by iFinex already, mainly on its army of attorney’s which racks up the cost of court significantly
Rewind to early in the year, Bitfinex was accused of covering up its massive $850 million loss with the help of its funds. But the exchange was quick to deny the accusations of any wrongdoings. The whole market was left to deal with the backlash and suffered a meltdown because of it.
Despite the legal setback for the world’s biggest stablecoin, Bitcoin has remained uninterested and seems to be well on its way to hitting the $11k mark once more as it is currently priced at $10,774 following a 0.88 percent increase over the past 24 hours. 
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
Source: Crypto Daily

Bitcoin (BTC) Remains Bearish Despite Short-lived Relief

Bitcoin (BTC) seems to have entered another bearish pennant. As much as the market makers would like us to believe that the price could rally past $11,500 again, the probability of that happening remains quite low. We now have a strong trend line resistance that the price will have a really hard time breaking past. If we take a look at the RSI, it becomes even clearer that the price is on the cusp of beginning a sharp decline. It is important to note that the RSI is a consequence of the price action and not the other way around but it is still a very useful indicator of what is going on due to its simplicity. While price action on the charts might be harder to make sense of, the RSI makes it easier to read. RSI on the 4H chart for BTC/USD has just broken below a rising wedge which means we can expect further downside from here.
Taking a look at Ethereum (ETH), we can see that yesterday when Bitcoin (BTC) rallied strongly above the 50 EMA on the 4H time frame, ETH/USD did not rally as much and remained within the bear flag. So far it has respected that bear flag and is now on the verge of further downside as Bitcoin (BTC) has just started decline. If we take a look at other major markets like the EUR/USD pair and the S&P 500 (SPX) we would notice right away that what is happening in the cryptocurrency market is perfectly in line with what is happening in major markets. EUR/USD rallied towards the previously broken support turned resistance and faced a strong rejection there. Now it is hanging on to another support but it is very likely to decline below it in the days ahead.

If the Euro ends up breaking this support against the US Dollar, we would have a strong confirmation of further downside to follow because EUR/USD contributes the most to the US Dollar’s strength out of all currency pairs. So, when EUR/USD falls, this means that the US Dollar gains more strength and thus the price of Bitcoin (BTC) falls in dollar terms. If we zoom out on the EUR/USD pair, we can see that it had to break below this descending triangle sooner or later. If we see it break below the current support, it will be in free fall till it declines to the next support at 1.10295.

If we take a look at the S&P 500 (SPX) now, we can see that it has already begun its downtrend. Yesterday, the index rallied towards its 50 EMA on the 4H time frame indicating temporary bullish relief but now it has become clearer that it is primed for a sharp decline from here. We strongly believe that this decline which is even more brutal this time will have a really bad impact on the price of Bitcoin (BTC). Those that disagree with this view are encouraged to take a look at what happened to the price of Bitcoin (BTC) after the S&P 500 (SPX) began its downtrend in October, 2018.
Source: Crypto Daily

Game not over: Bitfinex/Tether files a notice of appeal following New York Supreme Court’s ruling

After New York Attorney General, Letitia James, led the office to victory on August 19, Bitfinex has finally taken a stance against the ruling. In a document filed before the court, the exchange stated, “PLEASE TAKE NOTICE that respondents iFinex Inc., BFXNA Inc., BFXWW Inc., Tether Holdings Limited, Tether Operations Lim ited, Tether Limited, and […]
The post Game not over: Bitfinex/Tether files a notice of appeal following New York Supreme Court’s ruling appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Closes on $11k as Two Technical Indicators Conflict

Bitcoin has been in a steady uptrend since the weekend. The short term picture looks promising but a conflicting technical signal indicator on a longer term chart could spell the end of the upturn.
Bitcoin Almost at $11,000
A few hours ago during Asian trading, BTC posted a weekly high of $10,950 according to Tradingview.com. The price is back at last Tuesday’s resistance turned support level and up almost 10 percent since the weekend dip. In the hours that followed there was a slight pullback to around $10,800 where Bitcoin is currently trading.
BTC price 1 hour chart – Tradingview.com
The one hour chart revealed a ‘golden cross’ has just formed with the short term 50 hour moving average crossing the longer term 200 hour MA. This is a bullish trend reversal signal for this time frame and has come nine days after the opposing signal on the down trend. The next level of resistance for BTC from here is $11,400, should the trend continue upwards.
Four Hour Death Cross
The longer term four hour chart shows the complete opposite however with the 50 moving average about to cross below the 200 in a ‘death cross’. This usually indicates the continuation of a down trend on this time frame.
BTC price 4 hour chart – Tradingview.com
It should be noted though that these are lagging indicators which derive their positions from previous prices, not future ones. So a cross on the four hour chart does not necessarily mean that BTC is about to dump back to $9,000!
Zooming out to that day chart is still bullish as the uptrend is intact and the six weeks of consolidation at this price range has continued. The market is very choppy at the moment and these price swings are offering no indication of when a sustained movement in either direction will occur. The conflicting crosses just exemplify the current status of the market.
Price does not move in a straight line, as noted by crypto trader ‘BenjaminBlunts’, so patience is the key for those seeking longer term gains.
“pretty much where i feel we are in the $btc cycle, nothing moves in straight lines … you want them sick gains? then be patient, because patience is a virtue.”

pretty much where i feel we are in the $btc cycle, nothing moves in straight lines.
you want them sick gains? then be patient, because patience is a virtue. pic.twitter.com/048k2nenHR
— BenjaminBlunts (@SmartContracter) August 20, 2019

There are a lot of fractals in the historical Bitcoin price charts and these repeating patterns are likely to continue as the asset marches upwards. Buying the dip has been advised frequently and those that have done exactly that since the beginning of the year will be sitting pretty right now.
Image from Shutterstock
The post Bitcoin Closes on $11k as Two Technical Indicators Conflict appeared first on NewsBTC.
Source: New feedNewsBTC.com

‘New’ Satoshi Nakamoto Reveal (Part 2): Real Name, Lost Private Keys, New Project and More

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‘New’ Satoshi Nakamoto Reveal (Part 2): Real Name, Lost Private Keys, New Project and More
There is an interesting claim made by Mr. Caan concerning the status of Satoshi Nakamoto’s 980,000 Bitcoin fortune. According to Mr. Caan, his private keys were lost when he handed his laptop into an electronics shop for repairs. When the laptop came back, all of Satoshi’s BTC were gone.
‘New’ Satoshi Nakamoto Reveal (Part 2): Real Name, Lost Private Keys, New Project and More

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Source: CoinSpeaker

ICONLOOP To Implement Blockchain-Based Certification on Korean Art Platform

ICONLOOP, South Korea’s leading blockchain network is all set to apply its blockchain-based certificate service ‘broof’ to ‘ARTnGUIDE’, the first online service Korean platform for co-purchasing works of art. The partnership marks the first case of applying blockchain-based certificate issuance service to the art market.
The partnership seeks to help in preventing cases of forgery and theft by storing details of jointly purchased artworks on the blockchain, thus, helping in reliable management and maintaining transparency. ‘broof’ supports storage, certificate issuance, and prevention of falsification on the ICON public blockchain network.
From The CEO’s Desk
Jonghyup Kim, CEO of ICONLOOP expressed this enthusiasm and said,
“Blockchain technology can enhance the transparency and efficiency of art trading, effectively revitalizing the art purchasing market.”
He added,
“Through the cooperation with Yeolmae Company, which aims to popularize the art culture and vitalize the market, ICONLOOP will work together to protect intellectual property rights and prevent counterfeiting.”
While several crypto projects are yet to recover from the prolonged altcoin winters, ICONLOOP seems to be keen on innovation. The previous month ICONLOOP launched its decentralized passport service.
The system utilizes the decentralized identifier (DID) protocol on the ICON blockchain. Additionally, users can store their information on the DPASS app. Also, they can enjoy various services on the platform without reconfirming their identity.
Furthermore, as an additional security measure, DPASS works with ‘broof’ which enables the storage of tamper-proof security certificates. The platform is well suited to work with a large number of online and offline services which require such advanced security layers.
Close Connections with the South Korean Government
ICONLOOP enjoys close connections with the South Korean Government. Recently, the Financial Services Commission (FSC) added ICONLOOP’s ‘my-ID’ service into the ‘Innovative Financial Services and Regulations Sandbox’.
The digital ID system is useful for non-face-to-face verifications when opening bank accounts. Interestingly, 18 companies, which include banks, securities firms and e-commerce companies, have expressed their interest in participating in the Innovative Financial Service project.
ICON(ICX) Price
Source- CoinMarketCap
At press time,  ICX is trading at $0.213603 with a marked increase of 4.49% in the past 24 hours.
The post ICONLOOP To Implement Blockchain-Based Certification on Korean Art Platform appeared first on Coingape.
Source: CoinGape

Tron’s latest weekly report highlights new block height, surges in real-time accounts & transaction numbers

The Tron Foundation updated the community about recent developments in its ecosystem through its weekly report. The report highlighted the progress of Tron over the past week. The community was elated by the fact that block height had exceeded 11.86 million, while registering 1,145 nodes in Tron ecosystem. Further, real-time accounts also grew and stood […]
The post Tron’s latest weekly report highlights new block height, surges in real-time accounts & transaction numbers appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Invites Former Governor of India’s Central Bank As Keynote Speaker At Annual Conference

Swell by Ripple is a yearly conference that focuses on various finance-related topics including emerging tech in the payments industry, blockchain tech, future of finance, global financial industry and so on.
Raghuram Rajan at Swell By Ripple 2019
Every year, Ripple excites the audience ahead of the conference by revealing the list of speakers, proposed topics and other details. This time’s Swell conference is likely to be more thrilling for Indian audience especially as Raghuram Rajan, former governor of India’s Central Bank, Reserve Bank of India (RBI) has been invited as a keynote speaker at the conference.
Today, we are thrilled to announce Dr. Raghuram Rajan, former Governor of the Reserve Bank of India and Distinguished Professor of Finance at the University of Chicago, and Kamal Quadir, CEO of bKash as our 2019 Swell keynote speakers.
This update was first shared by an XRP community member on August 15, soon after which Ripple had removed the keynote speaker section from its event page. Ripple recently republished the speaker section on the page and revealed other details of the conference in a blog post.

Updated SWELL by @Ripple 2019 website!
Interesting Agenda:– "Liquidity is Different Now"– "When Will Digital Assets Go Mainstream?"
Keynote Speaker!– Mr Kamal Quadir, bKash CEO– Dr. Raghuram Rajan, Former IMF Chief Economist & Director of Researchhttps://t.co/ZbWI76bXEr pic.twitter.com/MPl0VDEImj
— 🐼PandaRippleXRP🐼 (@RipplePandaXRP) August 15, 2019

Swell By Ripple 2019 is scheduled for two days; i.e November 07 – 08 in the City of the Future, Singapore. Ripple has updated the possible agenda of the event and reveals that the first day will have customer FlashTalks, emerging Big Tech in payments, global payments, policy debt and an award ceremony. On the second day; i.e November 08, the event will open talks on Remitters, mobile wallet, Ripple’s UBRI program, Liquidity and more.
Tickets are currently restricted to invite-only. People interested in participating in the conference can submit their basic information and wait until Ripple sends an invitation.
About Raghuram Rajan
Raghuram Rajan is the 23rd Governor of the Reserve Bank of India, which is the country’s central bank. As India is currently dealing with regulatory ambiguity across the crypto space, it is exciting to find out about Rajan’s perspective on blockchain and cryptocurrencies  at Ripple’s annual conference. Moreover, Rajan had also served as the Chief Economist and Director of Research at the IMF from 2003 to 2006.
In 2018, Ripple invited former US president Bill Clinton to the Swell conference and he discussed the importance of blockchain technology.
At press time, the value of XRP is declined by 2.40 percent over the past 24 hours which pulled back its trading value to $0.28 against the US Dollar. The coin is still holding on to its third position with a market cap of $12,023,237,178.
The post Ripple Invites Former Governor of India’s Central Bank As Keynote Speaker At Annual Conference appeared first on Coingape.
Source: CoinGape

India: Central Bank’s circular on cryptocurrencies void on the basis of vagueness, claims counsel before the SC

The Supreme Court of India today resumed the ‘Internet and Mobile Association of India vs RBI’ case hearing. Continuing from its last hearing on the 14th of August, IAMAI Counsel, Ashim Sood, today argued that the action of the Reserve Bank of India was against the “doctrine of proportionality,” besides being based on no study […]
The post India: Central Bank’s circular on cryptocurrencies void on the basis of vagueness, claims counsel before the SC appeared first on AMBCrypto.
Source: AMB Crypto

Bloconomic Expo 2019: The Revolution of IR4.0 and Blockchain Spectrum

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Bloconomic Expo 2019: The Revolution of IR4.0 and Blockchain Spectrum
Bloconomic has successfully kicked off a blockchain expo with over 1000 attendees coming from 30 countries for 2 days event.
Bloconomic Expo 2019: The Revolution of IR4.0 and Blockchain Spectrum

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Source: CoinSpeaker