Coinbase customers in Canada can now link their PayPal accounts

Coinbase customers in Canada can now link their PayPal accounts

Coinbase customers in Canada can use PayPalFollowing our recent announcements supporting PayPal in the U.S. and the EU, today we’re expanding PayPal support for our customers in Canada. Coinbase customers in Canada can now instantly transfer sale proceeds directly into their PayPal accounts. Coinbase is committed to being the most trusted crypto exchange and want to give customers the ability to access their funds in a way that’s reliable and safe. Support for PayPal provides immediate access to funds through one of the world’s easiest and most widely-used payment platforms. Transferring sale proceeds into a PayPal account is fast and free — customers will incur no fees for such transfers. To get started, simply sign in to Coinbase and link your PayPal account to your Coinbase account. Select your PayPal account as a payment option for sale proceeds to access your funds instantly. We’re continuing to work on expanding PayPal support in more regions, and you can follow along on our blog for the latest.

German Regulator Has No Info on ‘Cyber Incidents’ on German Crypto Trading Platforms

German Regulator Has No Info on ‘Cyber Incidents’ on German Crypto Trading Platforms

Germany’s financial regulator has no knowledge of “cyber incidents” or market manipulation occurring on crypto trading platforms in the country, according to a press release on May 28. Referencing info from the Federal Financial Supervisory Authority (BaFin) — the financial watchdog that oversees banks, financial services institutions and insurance services — the government responded to a question from the Free Democratic Party (FDP), a centrist political party in the country, concerning information on cyber attacks, fraud, money laundering and market manipulation involving crypto assets. A translation of the written response reveals that it does not categorize financial crimes any differently if cryptocurrencies are involved: “Fraud involving cryptoassets is not reported separately in police crime statistics. The Federal Government has, beyond publicly known incidents, no information on fraud in the area cryptocurrencies and ICOs [initial coin offerings] in Germany or the European Union” The government also noted that the same applies to market manipulation, but did acknowledge the use of cryptocurrencies for money laundering, with specific reference to bitcoin (BTC): “The Federal Criminal Police Office is aware of investigations and convictions for money laundering, in which illegal Bitcoin revenues from narcotics transactions on the darknet were washed through bank accounts, or in money laundering services that were offered on the darknet for illegal revenue from drug trafficking with a payout in Bitcoin.” While using cryptocurrencies for money laundering remains a concern for many financial regulators around the world, a 2018 report from Japan’s National Police Agency found that virtual currency-related money laundering accounted for only 2% of all recorded cases.

BitMEX Operator Firm Donates to MIT to Conduct Crypto, Bitcoin-Related Research

BitMEX Operator Firm Donates to MIT to Conduct Crypto, Bitcoin-Related Research

The owner and operator of cryptocurrency exchange BitMEX has donated to the Massachusetts Institute of Technology (MIT) to conduct cryptocurrency-related research, according to an announcement published on May 28. HDR Global Trading Limited has made a donation to the MIT Digital Currency Initiative (DCI), the objective of which is to conduct the research necessary to support the development of digital currency and blockchain technology. Specifically, the funds will be allocated to support Bitcoin Core developers Wladimir van der Laan and Cory Fields. Commenting on the sponsorship, Sam Reed, CTO of HDR Global Trading and co-founder of BitMEX, said that the “donation into research and development is about ensuring that the network is more robust. A stronger Bitcoin network will be beneficial to all, and we are very excited to be able to aid in its progress.” As reported earlier today, BitMEX co-founder Ben Delo, joined over 200 other billionaires by pledging to donate the majority of his wealth to charitable causes. In his pledge, Delo wrote that he will use his fortune to “safeguard future generations and protect the long-term prospects of humanity.” Delo will direct his wealth to “navigate the challenges and opportunities posed by new technologies in the upcoming century.” In April, HDR Global Trading Limited partnered with United States-based professional trading infrastructure firm Trading Technologies International (TT) to open up its products to crypto derivatives traders. TT traders thus will be able to trade on BitMEX and will gain access to its crypto products, which include the bitcoin-based XBTUSD Perpetual Swap.

Top Coins Are Trading Sideways While Oil Reports Mixed Signals

Top Coins Are Trading Sideways While Oil Reports Mixed Signals

Tuesday, May 28 — Major cryptocurrencies have continued trading sideways, reporting mixed signals at press time, according to Cointelegraph’s Coin360 data. Market visualization from Coin360 After steadily pushing to the $9,000 price mark on May 27, bitcoin (BTC) is now trading at around $8,732. The leading cryptocurrency has lost 0.17% over the day, while its highest and lowest price points on the day were $8,850 and $8,485 respectively. As earlier reported, bitcoin hit an all-time high versus the Argentine peso amid the ongoing decline of the currency. The bitcoin price soared to as high as 394,000 pesos ($8,762.95) per coin, exceeding prices versus the Argentine peso not seen since the bubble in late 2017. Bitcoin 7-day price chart. Source: CoinMarketCap The co-founder at Hong Kong-based blockchain investment firm Kenetic, Jehan Chu predicted that bitcoin will rally as high as $30,000 by the end of 2019. Ethereum (ETH) is up by 1.61% over the last 24 hours, trading at $272.47 at press time. The altcoin has seen only slight volatility during the day, having dipped to as low as $264, while the intraday high reached $275. Ethereum 7-day price chart. Source: CoinMarketCap Ripple (XRP) has seen more solid gains on the day, having gained 5.95%, and is trading at $0.448. Over the past seven days, XRP is up by 12.74%, and its monthly gains are around 53.4%. Ripple 7-day price chart. Source: CoinMarketCap Of the top 20 cryptocurrencies, iota (MIOTA) has seen the biggest gains at press time by around 12%, and is followed by EOS, bitcoin SV (BSV), and ethereum classic (ETC), with 4.83%, 4.04%, and 4.99% respectively, according to CoinMarketCap. Total market capitalization is over $273.95 billion, with an intraday high of $275.5 billion. The daily trading volume of all cryptocurrencies on CoinMarketCap’s list is around $85.75 billion. Total market capitalization 7-day chart. Source: CoinMarketCap In traditional markets, Spot gold was down 0.5% at $1,278.11 per ounce, having touched its highest since May 17 at $1,287.32 in the previous session, according to CNBC, while U.S. gold futures were also down 0.5% at $1,277.30 an ounce. Oil prices have also reported mixed signals today; Brent crude fell 5 cents, or 0.1%, to $70.06 a barrel, with prices repeatedly veering above and below $70. U.S. West…

Tezos Is About to Enact Its First-Ever On-Chain Blockchain Update

Tezos Is About to Enact Its First-Ever On-Chain Blockchain Update

After nearly three months of voting by token holders, the Tezos blockchain will undertake a series of backwards-incompatible changes to the network on Wednesday. Called Athens A, the upgrade proposal was the first to undergo the network’s “self-amendment” process in which bakers on Tezos – equivalent to miners on bitcoin or ethereum – stake tokens bundled into “rolls” to show their support for or against competing upgrade proposals. Tezos is a proof-of-stake (PoS) blockchain with an estimated valuation of over $1 billion. Teeing up this week’s event, a developer group known as Nomadic Labs kick-started Tezos’ first on-chain governance process back in February. At the time, the news was a notable given the turbulence that took place during the project’s early days. As reported in March, Nomadic Labs put forward two proposals: Athens A and Athens B. Athens A and Athens B both suggested a reduction to the minimum amount of tokens – called a roll size – that’s required for a user to become a baker. This would reduce the barrier to entry for baking and encourage a higher number of bakers on the Tezos blockchain. Athens A, on the other hand, also suggested an increase to the computation or gas limit of Tezos blocks in effort to make smart contract deployment easier for application developers building atop the platform. After three months of voting and testing, bakers have now officially passed the final voting threshold to activate Athens A on Tezos’ main network. As noted by Jacob Arluck from the Tocqueville Group – a for-profit business development entity funded by the Tezos Foundation – bakers actually passed this last round of voting last Tuesday with over 46,000 rolls cast. Now, Athens A is expected to be activated on the main network sometime tomorrow on block number 458,752. Styles of on-chain governance Tezos’ final voting phase – called the promotion period – required a minimum participation level of at least 83.02 percent of all Tezos rolls. In addition, a supermajority of these rolls needed to be staked in favor of activating Athens A on the mainnet. Contending that the voter turnout for this first governance process on Tezos is “the highest for any system like this,” Arluck said: “It’s not like MakerDAO or Aragon where a…

Bitwise White Paper: Fake Trading Volumes by Exchanges Do Not Impact BTC Prices

Bitwise White Paper: Fake Trading Volumes by Exchanges Do Not Impact BTC Prices

American crypto investment manager Bitwise released a paper claiming that fake trading volumes by crypto exchanges do not impact bitcoin’s (BTC) price. Released on May 24, the white paper is an extended version of Bitwise’s March presentation alleging that 95% of volume on unregulated exchanges is fake. Published on the official website of the United States Securities and Exchange Commission (SEC), the new white paper is based upon the research that Bitwise Asset Management presented to the SEC on March 17, 2019, as specified in the document. In the white paper, Bitwise reiterated the main points from the presentation released in March, including evidence that almost 95% of reported trading volumes in bitcoin by exchanges are fake or non-economic in nature. However, the new report also proves that those fake volumes do not affect price discovery in the real bitcoin spot market. The white paper demonstrates that effective arbitrage systems keep accurate prices on real global bitcoin spot exchanges, eliminating sufficient pricing discrepancies “in a matter of seconds.” As part of the research, the new white paper also reiterates the fact that a great number of advances and tools in the bitcoin market, such as the launch of regulated bitcoin futures, the entry of large algorithmic market makers and bitcoin custody improvements, “dramatically improve the efficiency” of BTC markets. The research also cites data from popular crypto analytics website CoinMarketCap, arguing that the volume numbers reported by the website and other data aggregators in the industry are “surprising because they are wrong.” Bitwise state that CoinMarketCap data are “wildly inflated” by a mix of fake volume and wash trading that “dramatically skews the public’s view of the bitcoin market in a negative way.” Earlier today, crypto media outlet The Block published its own research stating that up to 86% of total reported crypto trading volume is “likely fake,” based on correlation with exchanges’ websites traffic. Following Bitwise’s fake volumes report in March, CoinMarketCap promised to rearrange rankings of member exchanges. On May 1, CoinMarketCap announced an alliance called the Data Accountability & Transparency Alliance to provide “greater transparency, accountability, and disclosure from projects in the crypto space.” At the time, the firm warned that it will remove crypto exchanges from its calculations if they fail…

IBM, Maersk Finally Sign Up 2 Big Carriers for Shipping Blockchain

IBM, Maersk Finally Sign Up 2 Big Carriers for Shipping Blockchain

Shipping blockchain TradeLens, developed by IBM and Maersk, has finally recruited two major marine cargo carriers to the platform after its early marketing efforts floundered. The new additions are Mediterranean Shipping Company (MSC), the second largest after Maersk; and CMA-CGM, the fourth largest in terms of cargo carrying capacity. MSC and CMA-CGM join other carriers Asia’s Pacific International Lines (PIL), Zim Integrated Shipping Services, and Maersk subsidiary Hamburg Süd, which, when combined, account for nearly half of the world’s ocean container cargo data, IBM said. TradeLens also hosts over 100 supply chain operators from the shipping and freight forwarding world including port authorities, cargo owners and so on. But the achievement of bringing a couple of Maersk’s very large rivals on to the IBM platform roughly a year after launch should not be underestimated in an industry with narrow margins for IT revamps and an inherent distrust among competitors. Indeed, TradeLens experienced difficulties at first attracting rival carriers to the platform over concerns from some quarters that IBM and Maersk owned the intellectual property in a joint venture. Still a joint venture These concerns are somehow being addressed, but in such a way that did not come down to a matter of having to share actual ownership of the platform itself. According to an IBM spokeswoman: “IBM and Maersk continue to be the sole owners of the TradeLens platform. The nature of an effective blockchain is to create an environment where multiple parties, often competitors, want to co-exist. Both CMA CGM and MSC are participating on the advisory board as part of the shared commitment to open governance.” Marie Wieck, the general manager for IBM Blockchain, said Big Blue has simply stuck to its blockchain architectural principles of open source collaboration, emphasizing that everyone owns their own data and has the authorization to permit who gets to see that and what the privacy implications are. Wieck told CoinDesk: “They [carriers] they took a good hard look at this and saw the clear benefits of joining. This is real momentum that you are seeing in the market play out here. Now with CMA and MSC it really has reached a tipping point in terms of market maturity.” CMA CGM and MSC will operate a blockchain node on the…

Ivy League Universities Set to Boost the Crypto Industry With an Injection of Institutional Investment

Ivy League Universities Set to Boost the Crypto Industry With an Injection of Institutional Investment

Despite the crypto volatility, the widely publicized regulatory concerns and a lack of liquidity in the cryptocurrency market, reports show that university endowments worldwide are dipping their toes into cryptocurrencies. Recently, a survey conducted by a trade publication in partnership with two other startups showed that up to 94% of the 150 endowments surveyed had an investment in crypto-related projects. More than 80% of those surveyed were United States-based institutions, with the rest of the respondents coming from the United Kingdom and Canada. What is most exciting about the survey is that a whopping 54% of respondents said that they “directly invested in cryptocurrencies though the assets themselves.” The other 46% said they gained their exposure through products offered by crypto funds. Ivy League universities join the fray On Oct. 10, 2018, another report published by a technology news site indicated that multiple prestigious and Ivy League universities in the U.S. had made investments in cryptocurrency funds. Although the report cited an anonymous source, it revealed that “Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology (MIT), and the University of North Carolina” had all invested capital in the crypto space. Furthermore, Yale University (another Ivy League school) was revealed to have dabbled in the crypto space with an investment that helped Paradigm (a digital currency fund) raise $400 million. With nearly $30 billion in its endowment fund, Yale is believed to be the second-largest endowment after Harvard’s $39.2 billion endowment. A brief background of endowment funds Even though most universities are financed by the government, educational institutions also get much of their income from the courses they teach. But, unbeknownst to most, these institutions also operate lucrative money machines in the form of endowment funds; that aim to provide supplementary income. Endowment funds come from donations that are given to colleges and universities for the purpose of investment. The institution holds the principal of the investment in perpetuity while making annual payments of about 4-5% to the university’s annual expenditures. With a dual goal of growing the principal as well as generating income, endowment funds have become accustomed to a strict set of guidelines. These guidelines are designed to dictate the allocation of funds. For a long time, the overall principle for most…

Kik Launches $5 Million Crypto Funding Campaign for Lawsuit Against US SEC

Kik Launches $5 Million Crypto Funding Campaign for Lawsuit Against US SEC

Canadian tokenized social media startup Kik has launched a $5 million crypto initiative to fund a lawsuit against the United States Securities and Exchange Commission (SEC), Kik CEO announced in the crypto-focused Unchained podcast by Laura Shin on May 28. Ted Livingston, Kik CEO and founder of Kik’s crypto project the Kin Foundation (KIN), revealed the formation of DefendCrypto fund to legally challenge the U.S. SEC in order to get regulatory clarity from the major U.S. financial watchdog. While the fund’s domain DefendCrypto.org was registered 25 days ago as of press time, the initiative was announced on May 28 along with Patrick Gibbs, partner at California-based law firm Cooley. The fund will use the custody service of major American crypto exchange and wallet service Coinbase, as revealed in the podcast. The action against the SEC follows Kik’s $100 million initial coin offering (ICO) sale for its Kin token, which was completed in late 2017. The ICO subsequently attracted the SEC’s attention, with the financial regulator sending a notice to the firm claiming that Kik’s Token Distribution Event (TDE) violated securities laws. In November 2018, the SEC eventually proposed a recommendation of an enforcement action for Kik and the Kin ecosystem, obliging the entity to respond within 30 days. Following the move, in January 2019, Kik warned the U.S. regulators that they will fight back against a proposed enforcement action against the firm. In mid-May, Kik CEO Livingston revealed that Kik had spent more than $5 million in the ongoing negotiations with the U.S. SEC on the matter. By initiating the DefendCrypto fund, Livingston intends to finally solve the regulatory problem around the company, as well as to bring an end to the overall existing regulatory uncertainty around the crypto industry. Livingston noted that the SEC’s uncertainty about the industry hampers the ability for innovators to compete on the global stage. He concluded: “Enough is enough, we need clarity, and the only way we’re going to get clarity is if we go to court, so let’s do that.” In May of this year, the SEC commissioner Hester Peirce, also known as the “crypto mom,” said that she was concerned that the cryptocurrency industry was being hindered by the relative slowness of the SEC’s regulatory decision-making.

BitMEX Co-Founder Pledges to Donate Personal Fortune to Combat Global Challenges

BitMEX Co-Founder Pledges to Donate Personal Fortune to Combat Global Challenges

The co-founder of crypto derivatives exchange BitMEX, Ben Delo, has joined over 200 other billionaires by pledging to donate the majority of his wealth to charitable causes. The Giving Pledge, founded by Bill and Malinda Gates along with Warren Buffet, is an initiative for the super-rich to commit more than half their wealth to charitable causes. In December of last year, Coinbase CEO Brian Armstrong became the first crypto entrepreneur to sign the pledge. BitMEX’s Delo, who is 35, wrote in his pledge in April that he will use his fortune to “safeguard future generations and protect the long-term prospects of humanity.” To this end, Delo seeks to direct his attention — and his finances — to “navigate the challenges and opportunities posed by new technologies in the upcoming century.” He went on to highlight the causes of his concern: “Our distant ancestors did not possess technology that could cause human extinction. We do. Nuclear security cannot be taken for granted. The prospect of extreme climate change is real. Looking forward, advanced technologies such as artificial intelligence and synthetic biology will pose new and complex challenges.” Last year, Delo became Britain’s youngest self-made billionaire. Despite his fortune, Delo said he mimics the frugal lifestyles of United States billionaire investor Warren Buffett. After graduating from Worcester College, Oxford in 2005 with a first-class degree in mathematics and computer science, Delo went on to co-found one of the largest crypto exchanges in the world, BitMEX, in 2014.