Ex-Goldman Sachs Engineers Raise $3 Million to Combat Crypto Market Manipulation

Solidus Labs has raised $3 million to combat crypto market manipulation, according to a press release shared with Cointelegraph on Feb. 20. Solidus Labs is a trade surveillance firm whose team includes former Goldman Sachs fintech engineers. The company reports to helps both traditional and crypto-focused service providers foster compliance while trading digital assets. Through the recent funding round, led by Israeli venture capital firm Hanaco Ventures, the team plans to further develop its crypto-oriented market surveillance tools designed for financial institutions and exchanges interacting with crypto assets. By implementing…

Coinbase Adds Bitcoin Cash Support to Wallet App

United States-based cryptocurrency exchange and wallet service provider Coinbase has added support for Bitcoin Cash (BCH) to its Coinbase Wallet, according to an announcement published on Feb. 19. The update states that users can now store Bitcoin Cash on Coinbase Wallet, adding: “The new Wallet update with Bitcoin Cash support will roll out to all users on iOS and Android over the next few weeks.” As Cointelegraph wrote in August 2018, Coinbase Wallet was introduced as a rebranding of the firm’s open source decentralized app (DApp) browser and wallet, formerly…

Japan’s Second-Largest Securities Brokerage Daiwa Completes Blockchain Pilot

Daiwa Securities Group, Japan’s second largest securities brokerage, has announced the completion of a blockchain proof-of-concept (PoC) in a press release shared with Cointelegraph on Feb. 19. The PoC implemented blockchain in the trade matching of post-trade processing. The blockchain pilot project, dubbed “JPX Proof-of-Concept Testing for Utilization of Blockchain / DLT in Capital Market Infrastructure,” involved 26 companies, including financial institutions, system providers and institutional investors. The reported goal of the pilot — which just completed the second of two phases — was to increase the efficiency of blockchain…

SEC Set to Begin Fresh Consultation Period on CBOE-VanEck Bitcoin ETF

United States regulator the Securities and Exchange Commission (SEC) says it will shortly commence the countdown period to approval or disapproval of the VanEck/SolidX Bitcoin exchange-traded fund (ETF). The news was announced in an unpublished notice that was filed on Feb. 19. The move is the latest in a series of back-and-forth exchanges between the SEC and ETF sponsors. The Chicago Board Options Exchange (CBOE) — the exchange applying with the SEC to list the Bitcoin ETF — had withdrawn its application for a rule change on the ETF in…

Major Japanese Trading Firm Marubeni Partners with US Blockchain Company LO3 Energy

Japanese general trading company Marubeni Corporation has partnered with a New York-based blockchain startup to use the technology for its energy business, Marubeni confirmed in a press release on Feb. 20. Marubeni, which has expanded beyond Japan into the United States as well as Europe, selected LO3 Energy’s transactive energy platform as the basis for an ongoing pilot project. The Japanese firm is the country’s fifth largest sōgō shōsha — a type of Japanese company that trades in a variety of products and materials. Using blockchain, the aim of the…

Binance Launches Decentralized Crypto Exchange Testnet

Major cryptocurrency exchange Binance has launched the testnet of its new decentralized exchange, Binance DEX, according to a press release shared with Cointelegraph on Feb. 20. Per Binance, the exchange, powered by Binance Chain — a new blockchain and peer-to-peer (p2p) distributed system — is already available for customers. Users can create wallets and start exchanging tokens on the Binance DEX testnet. CEO of Binance Changpeng Zhao explained that the new exchange will help users regain control of their private keys: “Binance DEX is a decentralized exchange with a decentralized…

Bitcoin Has ‘Quite Brilliant’ Structure, Paper Money is Going Away

Technology entrepreneur and Tesla CEO Elon Musk said that Bitcoin’s (BTC) structure is “quite brilliant” and that digital currency is “a far better way to transfer value than pieces of paper.” Musk made his remarks during an interview on advisory services firm ARK Invest’s podcast on Feb. 19. In response to a question about whether Bitcoin becomes the only native cryptocurrency of the Internet, Musk said that “the Bitcoin structure was quite brilliant,” and that he thinks that “one of the downsides of crypto is that computationally it is quite…

Canadian Judge Appoints Legal Representatives for QuadrigaCX Customers

The Supreme Court of Nova Scotia has ordered Canadian law firms Miller Thomson and Cox & Palmer to represent customers of cryptocurrency exchange QuadrigaCX in upcoming proceedings. The ruling was announced in a court filing published on Feb. 19. On Tuesday, Justice Michael Wood rendered a decision that Miller Thomson and Cox & Palmer will act as lead counsel to represent the representative committee of users of Canada’s major cryptocurrency exchange Quadriga. Specifically, the representative counsel will be responsible for “managing communications with users; acting as user liaison for the…

New Survey Indicates Businesses Unprepared to Deploy Blockchain Technology

A new study has revealed that, while businesses are considering blockchain adoption, overall they do not feel ready to implement the technology. The survey was conducted by software development firm Globant and published on Feb. 19. The report says that 64 percent of organizations are intent on investing in blockchain solutions to improve their internal operations, while only 46 percent of respondents feel ready to deploy the technology. Out of 61 percent of organizations that are already researching blockchain, only 28 percent have chosen a blockchain provider. According to the…

Cryptocurrency Bull Run | An Improving Economy Encourages Gains

A cryptocurrency bull run has taken hold of the entire crypto market. Digital coins have been rallying back (and then some) in recent days. The gains continue today as, according to CoinMarketCap, all the top 20 coins stay in the green. Cryptocurrency Bull Run At the time of writing, Bitcoin—the largest coin by market cap—is valued at $3,982, up 1.8% on the day. Today’s gains continue a bull run that has seen Bitcoin pack on roughly 9% in the last seven days. Now, BTC looks set to test the new price…