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Bitcoin Daily: India Eyes Crypto Trading Ban



India intends to propose legislation prohibiting digital currency trading, while other economies in Asia have opted to regulate the market, Bloomberg Qint reported.

It is anticipated that the India federal cabinet will talk about the legislation prior to the time it moves to parliament, the outlet reported, citing unnamed sources. Blockchain will be encouraged by the federal government, which is not enthusiastic about digital currency trading, according to two unnamed sources in the report.

Moreover, the federal administration’s think tank is looking into potential cases where blockchain technology could be harnessed, the report stated. South Korea and Singapore regulate digital currency trades, while China recently let bitcoin be exchanged as virtual property instead of fiat currency.

In other news, the U.S. Securities and Exchange Commission (SEC) unveiled charges against Washington state-based digital eSports gaming and gambling company Unikrn for holding an “unregistered initial coin offering (ICO),” according to a press release.

The SEC claimed that the company landed roughly $31 million via an offering of the UnikoinGold (UKG) coin. The firm consented to settle the charges through a $6.1 million penalty to be provided via a Fair Fund to investors.

The press release noted that the company agreed to the payment “without admitting or denying the SEC’s findings.”

And Binance Holdings is facing a suit from Japan-based Fisco Cryptocurrency Exchange in a complaint that arose from the purported laundering of stolen digital currency, according to the complaint from Fisco.

According to the complaint, Fisco alleged that “cyber-thieves” took digital currency valued at roughly $63 million in a 2018 hack of the Zaif digital currency exchange. Hackers took a combination of digital currency, including bitcoin. (Fisco had bought the Zaif exchange shortly following the incident.)

After the hack, the complaint said that pilfered bitcoin was tracked to one bitcoin address through publicly available analytics, and that analytics indicated that the Zaif hackers ultimately laundered approximately 1,452 bitcoin via Binance.

“Despite being one of the world’s largest cryptocurrency exchanges, Binance’s ‘know your customer’ and anti-money laundering protocols are shockingly lax and do not measure up to industry standards,” Fisco alleged in its complaint.



Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

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SaTT Smart Advertising Token Announces Listing on Leading Crypto Exchanges, KuCoin and Uniswap




SINGAPORE–()–Smart advertising marketplace SaTT is proud to announce the listing of its namesake token SATT on leading digital assets trading platforms – KuCoin, a centralized exchange (CEX) and Uniswap, a decentralized exchange (DEX).

Currently in the midst of its ICO, the SaTT project is making headlines across major news media for its remarkable feat in fundraising. Within 48 hours, the SaTT ICO closed over USD 1 million, hitting their soft cap of USD 3,360,000 in under a week.

Acknowledging the massive support from their community, SaTT CEO Gauthier Bros expressed his appreciation:

“To all who believe in SaTT and continue to express your amazing support for the SaTT token sale, as a show of our tremendous appreciation, we are going ahead of schedule with our token listing on the 24th of September. KuCoin is a world-class digital asset trading platform and we are proud to be listed on such a reputable exchange. For the DEX supporters, we have selected UniSwap, the leading decentralized permissionless exchange.”

KuCoin Global CEO Johnny Lyu said, “KuCoin has always been the home of crypto hidden gems, and we are happy to support more promising blockchain projects with our various financial services like trading, staking and more. Digital advertising is a billion-dollar market and we have seen SaTT’s potential to develop a new advertising solution with lower costs and more transparency.

The SaTT Story – Quality Over Hype

Birthed by the core team of Atayen, Inc., the iFrames app developer for business pages on Facebook, the SaTT project team have no shortage of advertising experience with a customer base that included international brands the likes of Coca Cola, McDonalds and Disney, amongst others. Keenly aware of the ills and challenges facing the advertising industry, the SaTT project was aptly armed with a viable use case from its years in advertising.

Amid the hype of countless ICOs of projects without a product or even a use case in 2018, SaTT went against the grain and kept the focus on delivering a working product.

The past two years has seen the SaTT team laboring over its blockchain advertising platform and conducting innumerable tests on blockchain oracles to obtain off-chain data from third party API of social media platforms such as Youtube, Facebook, Twitter, Instagram etc.

Consistent hard work has paid off and the SaTT platform has been fully launched since Q3 this year, now ready and eager to take on the advertising mantle for the brands of the world.

Having grown a strong following throughout its developing stages, last week, the SaTT project saw its ICO reach a level of fervour unheard of in today’s ICO narrative, as loyal supporters rallied behind the project’s token sale.

SaTT’s ICO success serves as a testament to good old-fashioned persistence and hard work. As Henry Ford put it, “Quality means doing it right when no one is looking.”

Keeping Community at the Forefront

At the time of this writing, the SaTT ICO has raised over USD 4 million with the total number of SaTT token holders sitting at over 13,400 addresses.

Starting September 24, SaTT token holders will be able to start making deposits in preparation for trading. Available trading pairs will be announced when deposits open on the exchanges. Stay tuned to SaTT social media channels for exact timing and other detailed announcements.

In the meantime, SaTT remains committed to making listing partnerships with credible exchanges vetted to be safe for users, keeping the community always at the forefront of any listing decisions. SaTT token holders will welcome the news that besides KuCoin and UniSwap, SaTT has managed to secure an additional 5 exchanges, to be announced at a later date. Stay tuned!

About SaTT

SaTT, which stands for Smart Advertising Transaction Token, is a utility token that enables advertisers to buy smart advertising services on its ethereum-based dApp. All transactions between advertisers and influencers/publishers are governed by the SaTT smart contract which ensures speed, transparency and security, and is cost-efficient.

The SaTT dApp helps to quantify ROI by using Oracles to retrieve data from 3rd-party API of social media platforms like Youtube, Facebook, Twitter, Instagram etc. Actions performed, such as LIKES, SHARES, VIEWS, TWEETS etc. can then be evaluated and if all criteria is successfully met, payments are triggered automatically from the advertiser’s preloaded budget to the wallet of the influencer/publisher. Fast, tamper-proof, secure and cost-efficient, the SaTT smart advertising system is a perfect use case of the ethereum smart contract.

About KuCoin

KuCoin is a world-class blockchain asset exchange, also known as “The People’s Exchange”. Offering 200+ cryptocurrencies, KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently.

About Uniswap

Uniswap is a protocol on Ethereum for swapping ERC20 tokens. Uniswap is designed for the community to trade tokens without platform fees or middlemen. Uniswap provides liquidity using a simple math equation and a pool of tokens without the need to match buyers and sellers.

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An Overview of Crypto Algo Funds




Digital asset funds can be the easiest way to get exposure to crypto markets with a ‘set & forget’ strategy for investors while making short and long term gains. There are serious gains to be made in this new industry, and the findings of my own journey supporting digital asset clients over the past four years can help curious investors understand what to look for in a digital asset fund and what to run away from. 

My Journey into Crypto Algo Trading

I entered crypto in a roundabout way through social media. I was just a unicorn laser beam loving millennial who used to post articles about Bitcoin on social channels before the masses knew what it was. Overnight, BTC started to spike and people were chasing me down to help manage their crypto wallets. I had at least ten clients with a collective portfolio worth 500K USD of crypto. I became their tech guru, helping them to install clunky crypto wallets, installing 2FA on their phones, and helping them to buy crypto from unfriendly interfaces on newly born crypto exchanges. My clients mostly wanted to HODL as we entered the crypto winter of 2018.

The Algorithmic Trading of Cryptocurrency

During this time, I started a crypto algo fund in partnership with a team of developers with the intention of giving clients the opportunity to make better gains. To put it in terms that even my mom could understand, it is the ‘robotic’ or ‘automated’ trading of cryptocurrency. This approach allows for high frequency trading, buying and selling at speeds that are impossible to manually execute. One of the more popular algo trading methods involves ‘arbitrage’, which uses data analysis to execute trades by taking advantage of price differentiations between the same coins (BTC, ETH, etc.) on different crypto exchanges – just have a look at all the different price listings of BTC and imagine the profit possibilities of moving BTC between exchanges.

Crypto Algo Lessons Learned

As an experienced traditional quant developer pointed out, developers need at least 10+ years of experience to get hired on a traditional quant fund team. None of our developers, although brilliant and innovative, were veterans and it hurt us when the most volatile of volatile moments hit the market. The lack of experienced quant traders is still an issue across the board for our industry. 

Another issue was with the APIs of the crypto exchanges. APIs allow the trading technology to connect to the exchanges without manual interference or having to login. In those times, crypto exchanges were not prepared for automated trading and were changing the rules of their APIs on a regular basis. This caused the trading algos to fail, sometimes on a daily or hourly basis. 

We also didn’t have the funding or support to engage with third party auditing and inhouse compliance officers. I knew without the right team or funding that this would be a major hurdle to onboarding client funds at greater levels of 100K and above. This is another industrywide issue. There are still many crypto funds today that don’t use third party auditing or similar traditional fund safety measures, and they can get away with it because of the lack of regulation.

After taking a pause from trading, I embarked on a worldwide survey, calling up crypto algo funds and going to meet with founders in person, at their offices and crypto and blockchain conferences. I decided to take more of a ‘fund of funds’ approach instead of in-house algo trading, which lowered my overhead immensely and provided more flexibility and options with trading strategy. 

Due Diligence First. Before the Crazy 100%+ Gains

My team of advisors who were experienced in both cryptocurrency and traditional hedge funds (including investment bankers from big name banks like Barclays and Fidelity) helped me to do serious due diligence on some interesting crypto algo funds. Some of these funds had mind blowing gains, going above anywhere between 50 per cent -200 per cent per year. Unfortunately, most of them did not meet my due diligence requirements, as listed below. Most funds could not provide the essential NAV reports, and did not have compliance officers or third-party auditing – all requirements for traditionally regulated funds. It’s shocking to see the rampant cowboy negligence of best practices in the industry, and why I fully welcome reasonable regulation to protect investors.

These are elements that any serious investor should look for before committing funds:

  • Third-party auditing
  • Funds with at least one year of operation with verified results
  • NAV reports
  • An experienced team with veteran quant developers
  • In-house compliance officers
  • Extensive interviews with fund founders
  • A client interface where they can view asset totals at any given time
  • A detailed breakdown of trading strategy and back testing results if possible. 
  • Realtime or daily updates of account totals with a private client interface – most crypto funds don’t do this yet. 

Enter the Covid Shakedown Test…

Potential investors always ask me, “What’s the risk management in a worst-case scenario or catastrophic event?? Will I lose all my money??” I always had an explanation for this, and then came Covid. A blessing in disguise…

Covid destroyed many crypto algo funds (fund of funds included) because of strategies that could not keep pace with the extreme volatility. It was tragic, and I lost a few partnerships with other funds because of it. The silver lining is that the strong crypto algo funds survived because of their strategies and experienced teams. 

Erin Grover is a brand ambassador for Icoinic, the first Digital Asset Fund of The Netherlands that also includes algorithmic trading. Her specialty is in  algorithmic/quantitative crypto trading & best practices for crypto funds. She is also an advisor for the AKASHA Innovation Hub in Dublin which provides incubation and acceleration for blockchain projects at various stages.

Icoinic: My Algo Fund Dream Come True
I nearly lost hope on this path during Covid. I was convinced that it was time to give up, but then I forged ahead with my search and found Icoinic, a digital asset fund out of the Netherlands.  Not only did Icoinic come out on top with serious gains in this year’s volatility, but the founders run the fund as if it’s fully regulated. 

Icoinic checked all my boxes for due diligence. Its approach is a benchmark for the industry. The founders are focused on more than just sexy gains and value client security and best practices. In short, it is the only way that I can feel safe to bring in clients, especially when they are looking to come in at 100K+ investment levels. This is how algo funds will be able to grow and sustain over time, especially when EU regulation does hit the crypto world.

Find me on LinkedIn if you’d like to learn more about this niche. 

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The Interchange: The Evolution of Crypto Lending – The Block Crypto




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