UK Startup Launches Crypto Insurance, 24/7 Bitcoin-Monitoring Service

Cardiff-based cryptocurrency insurance startup Coincover has launched an insurance policy covering theft and loss.  Local news outlet Whales247 reported on Sept. 24 that this is “the first and only service to guarantee digital funds held online will not be lost or stolen.”  Coincover’s service reportedly monitors the wallet at all times and issues warnings in case of suspected theft, recovers funds in case of private key loss, manages key backups, provides cash replacement value in case of theft, and checks for any suspicious activity. Making crypto less risky Furthermore, the…

Digital Currency Has ‘No Timetable’ for Launch

China has no specific launch date in mind for its digital currency, its central bank has said in fresh comments contradicting previous statements. Central bank governor: We need time to research As local English-language news outlet Global Times reported on Sept. 24, the People’s Bank of China (PBoC) has now denied Beijing is ready to debut its new financial asset. According to the publication, which did not quote governor Yi Gang directly, the PBoC “needs to research, test, evaluate and prevent risks.” “China’s research and development of digital currency has…

Bitcoin Price (BTC) Breakdown Looks Real, More Downsides Incoming?

Bitcoin price is under pressure and it recently broke the $9,800 support area against the US Dollar. The price is currently consolidating losses below $9,800 and it remains at a risk of more downsides. There was a break below yesterday’s highlighted contracting triangle with resistance near $9,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could correct higher, but upsides are likely to remain capped near $9,850 and $9,950. Bitcoin price is showing bearish signs below $10,000 against the US Dollar. BTC is likely…

Ripple Price (XRP) Testing Crucial Support With Bearish Bias

Ripple price extended its decline and tested the key $0.2650 support area against the US dollar. The price could accelerate its decline if it fails to hold the key $0.2650 support. There is a major declining channel forming with resistance near $0.2810 on the hourly chart of the XRP/USD pair (data source from Kraken). The price may perhaps correct higher, but upsides are likely to face hurdles near $0.2800 and $0.2850. Ripple price is showing bearish signs against the US Dollar, similar to bitcoin and Ethereum. XRP price must stay…

SEC Charges Fantasy Market Founder with Fraudulent ICO Scheme

The United States Securities and Exchange Commission (SEC) has charged Jonathan C. Lucas, the founder of adult entertainment marketplace Fantasy Market, with orchestrating a fraudulent initial coin offering (ICO). According to the SEC complaint published on Sept. 23, Lucas received around $63,000 in cryptocurrency from more than 100 investors “through the fraudulent offer and sale of unregistered digital securities of Fantasy Market.” The document states: “As alleged in the complaint, Lucas made numerous materially false statements in a whitepaper and online to induce investors to participate in the ICO. Among…

Ethereum (ETH) Price Smashes Support, More Downsides Possible

ETH price is under a lot of pressure and it recently broke the $202 support against the US Dollar. The price is likely to continue lower towards the $195 and $192 support levels in the near term. There are two major bearish trend lines forming with resistance near $208 and $210 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher, but upsides are likely to be capped near the $210 level. Ethereum price is extending its decline versus the US Dollar and bitcoin. ETH…

SEC Charges Adult Entertainment Token Platform With 2017 ICO Fraud

The U.S. Securities Exchange Commission charged Jonathan Lucas, 27, the CEO of online adult entertainment marketplace, with running a fraudulent initial coin offering (ICO) scheme. According to the SEC’s lawsuit, the company claimed that investors could purchase its token and use them to request certain actions in a live adult performance on the platform. “Fantasy Market is a role-playing performance marketplace for live, client-controlled digital performances,” according to the company’s LinkedIn profile. “Through the use of our tokens, you control what the performers say and do during the show.” All…

Cisco Partners With SingularityNET on Decentralized Artificial Intelligence

Decentralized artificial intelligence (AI) firm SingularityNET and tech conglomerate Cisco have partnered to develop applied artificial general intelligence (AGI) technologies. AGI is one aspect of AI technology that concentrates on learning the intellectual tasks of which humans are capable. Sometimes referred to as “Strong AI,” AGI emphasizes a machine’s ability to reason in uncertain situations, solve puzzles, plan and communicate in natural language.  Goertzel also said that the scale of Cisco’s AGI deployments will be a major driver for the firm’s development, stating: “The work we’ve done with Cisco on…

Bakkt Trades 71 Bitcoin Futures Contracts in First 24 Hours

Intercontinental Exchange’s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22. According to ICE historical data on Bakkt’s Bitcoin/USD futures contract trading, the platform has traded 71 BTC at press time, with the last recorded trading price settling at $9,875 per Bitcoin. Bakkt Bitcoin (USD) monthly futures contract. Source: ICE In an analysis for Cointelegraph earlier today, Rakesh Upadhyay wrote that the lukewarm reception to the Bakkt launch is likely due to the fact that the currency’s price…

Kik Shutting Down Popular Messaging App Due to ICO Legal Battle

Disclaimer: This report previously stated that Kik was only considering shutting down its app and has been updated following new information from Kik. The Canadian social media and messaging app company Kik is considering shutting down its popular Kik messaging app. 70 reported layoffs at Kin subsidiary  In a Sept. 23 article, Israeli tech publication CTech Calcalistit cites two anonymous sources at Kik, claiming that the Canada-based firm is considering closing down its messaging app.  A subsequent blog post by Kik CEO Ted Livingston confirmed the reports, stating that the…