Category: USA

Despite NYSE’s ‘Biggest News of the Year’ for Bitcoin, Crypto Markets Plummet in a Blink

Crypto markets have taken a vertiginous plunge today, August 4, with Bitcoin (BTC) losing almost $500 in the six hours before press time to dip below $7,000, and all of the top ten cryptocurrencies by market cap in the red, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,028 […]

US Treasury Dept. Fintech Innovation Report Touches on Crypto, Blockchain

A major new report from the U.S. Treasury Department published July 31 has called for a more agile and conducive regulatory approach to innovations in the fintech sector. The 222-page report, devoted to ‘Nonbank Financials, Fintech, and Innovation,’ only fleetingly touches upon cryptocurrencies and distributed ledger technologies (DLT) such as blockchain, noting that these are […]

90% of Blockchain Initiatives by US Firms Will Never Become Operational

About 90 percent of currently active U.S. companies’ blockchain initiatives will ultimately be abandoned. This statistic comes from a study by Forrester Research, cited by Bloomberg in an article July 31. The U.S. market research firm Forrester Research predicts that most of blockchain-powered projects initiated by American companies will be put on hold in 2018. […]

BitFunder Founder Pleads Guilty to Charges of Fraud and Obstruction of Justice

The operator of now defunct Bitcoin (BTC) stock exchange BitFunder has pleaded guilty to federal charges of obstruction of justice and securities fraud, Reuters reports July 23. According to prosecutors, 37-year old Jon Montroll, also known as Ukyo, also pleaded guilty to obstruction of justice, admitting that he provided false balance statements to the U.S. […]

Wells Fargo Files Patent for Tokenization System to Protect Sensitive Data

San-Francisco-based bank Wells Fargo has outlined a patent for a tokenization system that would protect data, according to a filing published by the U.S. Patent and Trademark Office (USPTO) July 17. The newly published application details a system in which any type of data element — whether a document, graphic, or database value — could […]

Swiss-Based Sirin Labs to Release Blockchain-Based Smartphone in November

Sirin Labs, a Swiss-based smartphone developer, will release a blockchain-based phone in November this year, the company told Cointelegraph on July 11. In December 2017, Sirin Labs raised $157.8 million for the project during their Initial Coin Offering (ICO), with $110 million gathered over the first 24 hours. Sirin Labs had also previously released a […]

US and South Korea to Strengthen Joint Cooperation on Fourth Industrial Revolution

The US State Department and South Korea’s Ministry of Science and Technology (MSIT) have resolved to strengthen the two countries’ cooperation in advancing the Fourth Industrial Revolution, at a press conference held in Seoul today, June 22. The so-called Fourth Industrial Revolution has been characterized by the World Economic Forum (WEF) as a series of […]