Bitcoin Industry

2022-10-15 20:00:08 ​​Blockchaincom closes crypto custody for Russians amid EU sanctions.

Blockchaincom will soon shut down accounts of Russian nationals, while companies like Binance are also working to apply the new EU sanctions.

Crypto wallet provider Blockchaincom is the latest company to soon cease to provide services to Russian nationals due to the latest sanctions by the European Union.

Blockchaincom has notified its users that it’s going to shut down accounts of Russian nationals in two weeks, the local news agency RBC reported on Oct. 14.

According to the report, Blockchaincom will allow Russian users to withdraw their funds until Oct. 27, 2022. After that date, the accounts of Russian nationals are reportedly going to be blocked.

The statement emphasized that Blockchaincom is currently prohibited from providing custodial and reward services to Russian citizens in line with the EU’s eighth package of sanctions against Russia.

Unlike previous sanctions, which only limited Russan-EU crypto payments to around $9,700, or 10,000 euros, the latest package puts a blanket ban on cross-border crypto payments between Russians and the EU. The new sanctions were imposed on Oct. 6.

Blockchaincom’s services are not limited to custodial services. Blockchaincom also runs a noncustodial wallet, which ideally is designed to allow users to fully control their assets while the company has no access to the wallet’s data. In addition to the noncustodial wallet, Blockchaincom also runs custodial trading accounts, which allow users to buy and sell crypto on the platform.

It remains unclear whether Russian customers would be able to retain access to their noncustodial wallets on Blockchaincom. The firm did not immediately respond to Cointelegraph’s request for comment.

Blockchaincom is not the only platform to halt some services to Russians amid the latest sanctions. Major blockchain developer Dapper Labs also suspended Russian accounts due to the EU’s latest sanctions against Russia and its nationals.

According to online reports, many other major exchanges and peer-to-peer platforms, including Cryptocom, Coinbase and LocalBitcoins, are planning to comply with the sanctions as well. The companies did not immediately respond to Cointelegraph’s request for comment. Open / Comment

2022-10-13 20:00:07 Forly Finance is a group of companies from Estonia and USA. This company has the strongest regulation in the investment market. Forly Finance has created its own technologies for analyzing the currency, cryptocurrency and stock markets, as well as systems for transmitting transactions to clients.
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2022-10-12 20:00:09 ​​GITEX Global 2022 discusses how to educate mainstream media on crypto.

Cointelegraph’s editor-in-chief, Kristina Cornèr, participated in a panel that discussed the topic of cryptocurrency and the media.

With crypto becoming more popular, mainstream outlets must be more educated on the space to ensure accurate reporting, according to a panel discussion during the Gulf Information Technology Exhibition (GITEX) Global event held at the Dubai World Trade Centre.

At the TDeFi Pavillion, Cointelegraph editor-in-chief Kristina Cornèr participated in a panel discussion titled “Crypto and Media: The View, The Perspective and Chaos.” Moderated by Maria Vovchok, ambassador at Blockchain Association of Ukraine and Finoverse, the panel included Laura Inamedinova, the founder of LKI Consulting; Triska Hamid, editorial director at Wamda and Walid Abou Zaki, the founder of Unlock Blockchain.

While the discussion brought up various points, one of the highlights of the panel was the question of how mainstream media could be more accurate and knowledgeable when tackling crypto-related reports. In response to the topic brought up by Vovchok, Hamid highlighted that there are definitely problems in terms of understanding the sector from mainstream outlets. Hamid explained that:

“We saw the last recession, financial journalists were struggling to understand problems that were happening and relaying that back to the masses. So, I think there’s a lack of understanding genuinely.”

Coming up with a potential solution, Abou Zaki suggested that it would be better to create new editors and journalists instead of transferring mainstream media correspondents into crypto. The executive proceeded to relate his experience with an editor he knew who just gave up on trying to understand the space when things started to get complex. “From what I see in this market, I believe the mainstream media and the editors in the space don't invest enough time to learn about this technology and this space,” he said.

Meanwhile, Inamedinova pointed out that while crypto-focused media may be focused on quality, some mainstream media outlets are focused on getting clicks, publishing headlines that are clickbait to get more traffic. According to the agency executive, some outlets only focus on the traffic and not on the quality. Open / Comment

2022-10-10 21:00:02 Forly finance will be listed on P2B

Forly finance is coming soon to our exchange.
Trading pairs: FCC/ USDT
Listing start date - October 13, don't miss it!

Forly Finance is a group of companies from Russia, Estonia, USA. In the US, they have been licensed by the US Securities Commission. This company has the strongest regulation in the investment market. Forly Finance has developed its own system for automatically transferring transactions to clients. The company itself participates in each transaction, participates with its own money, and all these transactions are transferred to customers on a full automatic basis. All clients pay the success fee of 30% with the FCC token.


Learn more about the project:
Website: forly.finance/
Twitter: twitter.com/ForlyCapital
Telegram: t.me/fc_eng Open / Comment

2022-10-09 20:00:07 ​Shiba Inu Price Prediction – Will SHIB Reach $1 in 2022?

Shiba Inu price prediction is slightly bearish as the meme coin has violated the symmetrical triangle pattern, and now it's trading at $0.00001106. Despite a 1.72 trillion SHIB withdrawal from Huobi exchange, SHIB fails to gain bullish momentum.

Shiba Eternity, Shiba Inu's first collectible card game, was just released on global mobile platforms for consumers to download and play.

Many people were wondering what impact the revelation would have on cryptocurrency sentiment. Shiba Inu hasn't reacted much to the news so far.
According to blockchain data, a "Shiba Inu whale" has just cashed out $1.72 trillion worth of SHIB from the Huobi cryptocurrency market, which may be good news for the price of SHIB.

The Shiba Inu withdrawal transaction was worth about $19.4 million but has now dropped to under $19.1 million. Such big transactions are typically the work of a single whale or a group of investors.

The Shiba Eternity Twitter account recently updated its followers on the status of the competition it announced back in September. The goal was for people to make a 30-second-long trailer for the SHIB game. Open / Comment

2022-10-06 20:00:06 ​​Grayscale Bitcoin Trust terminates material agreements with Genesis.

Genesis will no longer be involved in GBTC's main operations, but will still act as a liquidity provider.

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Grayscale Bitcoin Trust has terminated two agreements with cryptocurrency broker Genesis.

First, Genesis will no longer assist Grayscale in the distribution and marketing of the latter's shares. Second, from Oct. 3 onwards, Genesis will no longer be an authorized participant of the trust but will continue to serve as a liquidity provider for Grayscale. The two agreements previously came into effect in 2019.

The aforementioned responsibilities have since transferred to Grayscale Securities LLC, a wholly-owned subsidiary of Grayscale Investments LLC and an affiliate of Grayscale Bitcoin Trust. In the past, Genesis helped Grayscale market the Trust on social media and transfer digital assets to create Trust shares.

However, it appears that Genesis may have fallen on tough times as part of the ongoing crypto winter. Last week, Genesis director Matthew Ballensweig announced that he was stepping down and moving into an advisory role. In August, Genesis' CEO Michael Moro also resigned, whereas the firm cut its workforce by 20% to reduce costs. Previously, Moro confirmed that Genesis' funds were exposed to defunct cryptocurrency hedge fund Three Arrows Genesis' parent company Digital Currency Group was forced to intervene and helped plug some of the losses.

Grayscale attempted this year to convert its Bitcoin Trust to an exchange-traded fund from being traded on the over-the-counter markets. However, its application was denied by the SEC because the proposal failed to demonstrate how it was "designed to prevent fraudulent and manipulative acts and practices."

In response, Grayscale’s CEO Michael Sonnenshein filed a lawsuit against the SEC, citing "failing to apply consistent treatment to similar investment vehicles" when it rejected the Grayscale Bitcoin Trust listing application. In part due to perceived litigation risks, GBTC shares have consistently traded below the value of Bitcoin spot price since 2021, with the discount reaching 35%, a new all-time high at the time of publication. Open / Comment

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2022-10-03 20:00:04 ​​CFTC takes legal action against Digitex futures exchange and CEO.

Many in the space have criticized regulators including the CFTC and SEC for taking a “regulation by enforcement” approach to crypto in the United States.

The United States Commodity Futures Trading Commission, or CFTC, filed a complaint against Digitex LLC and its founder and CEO Adam Todd for failing to register the cryptocurrency futures exchange and manipulating the price of its DGTX token.

According to a Sept. 30 court filing in the Southern District of Florida, Todd allegedly pumped up the price of DGTX tokens in an effort to inflate Digitex’s holdings. The U.S. regulator claimed the Digitex CEO used different corporate entities as part of a scheme to launch and operate an illegal digital asset derivatives trading platform, in violation of the Commodity Exchange Act.

CFTC rules require performing rKnow Your Customer checks and implementing a customer information program. Todd said in 2020 that he planned to remove all KYC procedures from Digitex in an effort to protect user data.

The complaint said the CFTC sought a court order blocking Todd and Digitex from engaging in digital asset transactions considered commodities under the regulator’s purview. In addition, the regulator intended for Digitex to pay civil monetary penalties, disgorgement, and restitution to affected parties. At the time of publication, both Digitex’s and its futures websites were offline.

Many in the crypto space have criticized regulators including the CFTC and Securities and Exchange Commission, or SEC, for taking a “regulation by enforcement” approach to crypto in the United States. While the SEC is currently engaged in a legal battle against Ripple over whether the firm’s XRP sales violated securities laws, CFTC commissioner Caroline Pham met with Ripple CEO Brad Garlinghouse as part of a “learning tour” on crypto and blockchain in September. Open / Comment

2022-09-30 22:00:03 ​Pantera plans to raise $1.25B for second blockchain fund.

“We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years,” said CEO Dan Morehead.

Dan Morehead, founder and CEO of Pantera Capital, reportedly said the hedge fund was planning to raise $1.25 billion for a second blockchain fund.

According to a Sept. 28 Bloomberg report, Morehead said Pantera aimed to close the blockchain fund by May. The fund will reportedly invest in digital tokens and equity in an effort to appeal to institutional investors.

“We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years,” said the Pantera CEO, according to the report.

Launched in 2013, Pantera was one of the first crypto funds in the United States at a time when the price of Bitcoin (BTC) was largely under $100. Morehead said in a 2019 interview that BTC had the potential to reach $356,000 by 2022. Pantera has since grown to have $4.5 billion in assets under management, according to its website.

Should the reported second blockchain fund close as planned, it would follow Pantera's launch of its first blockchain fund in May 2021, targeted at $600 million. Cointelegraph reported in April that the hedge fund was set to close the fund backed by roughly $1.3 billion — double its target. Pantera also offered a liquid token fund, an early-stage token fund, a BTC fund and venture funds with “exposure to companies building products and services in the nascent blockchain ecosystem.” Open / Comment

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