Class Action Complaint Filed Against Patrick Byrne and Overstock.com

A new complaint filed in Utah accuses Overstock.com, former CEO Patrick Byrne and former CFO Greg Iverson of securities fraud. The complaint Filed on Friday, Sept. 27, the complaint requests a trial by jury, alleging that Byrne designed Overstock.com’s digital asset-based dividend as a means of punishing short sellers, which other outlets have alleged previously. On the subject, and in language more dramatic than many legal filings, the complaint reads:  “While defendant Byrne had previously, at different times, launched into public tirades over short selling and naked short selling, the…

Crypto News From the German-Speaking World: Sept. 22–28 in Review

The German-speaking world has experienced another week full of exciting developments in the crypto industry, with a Berlin-based fintech startup receiving $1.5 million to develop its own blockchain, German experts warning about Facebook’s crypto coin, and the Federation of German Industries asking the government to create suitable conditions for blockchain. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. German fintech startup receives $1.5M to develop its own blockchain On Sept. 23, Cointelegraph auf Deutsch reported that the Berlin-based fintech…

Government of Uzbekistan Triples Tax on Electricity for Crypto Miners

The government of the Republic of Uzbekistan has ordered a 300% increase on electricity tariffs for cryptocurrency miners. According to a Sept. 27 announcement, the Cabinet of Ministers of the Republic of Uzbekistan has decreed that cryptocurrency miners must pay three times more the existing electricity tariffs.  The provision follows an Aug. 22, 2019 decree from President Shavkat Mirziyoyev entitled “On Accelerated Measures to Improve Energy Efficiency of Economic Sectors and the Social Sphere, Implement Energy Saving Technologies and Develop Renewable Energy Sources” and to further motivate the rational use…

SegWit, Explained | Cointelegraph

5. SegWit is associated with Bitcoin and its core principles, so its strengths and weaknesses will vary depending on who is observing it. SegWit’s ability to give blocks more weight, or transaction density, relies on the idea that some blockchain data will be kept off the original chain, which is instead used as a sort of reference or index. Some believe that offloading data from the blockchain is already a failure, as it’s like admitting that blockchain alone can’t function.  From this perspective, SegWit itself is a weakness infecting Bitcoin,…

ConsenSys and WWF Roll Out Platform for Transparency in Philanthropy

ConsenSys, a blockchain startup founded by Ethereum’s (ETH) co-founder Joseph Lubin, and the World Wildlife Fund (WWF) have jointly launched the Impactio platform to bring transparency into philanthropy. Per an announcement made on Sept. 24, a new partnership between ConsenSys and the WWF resulted in an Ethereum blockchain-based platform dubbed Impactio designed to supervise and fund projects within nongovernmental organizations and standalone companies. The impetus behind the initiative is to trace how companies’ funds are spent within social impact projects. What does Impactio solve? Individuals and companies who utilize Impactio…

Everything You Need to Know

Bitcoin (BTC) has a unique advantage: self custody, which the traditional financial system cannot compete with. It is important that the Bitcoin ecosystem maximizes this competitive advantage in order to compete with the legacy system. Custodial solutions are important for financial markets, whether traditional or innovative, and have been historically limited for Bitcoin. But why do institutional investors need custodial services, and what are the unique challenges of Bitcoin custody? Why institutional investors need custodial services There are two main reasons why institutional investors need custodial services: reducing risk and…

Crypto News From the Spanish-Speaking World: Sept. 22-28 in Review

Spanish-speaking countries made headlines this week, with cryptocurrency and blockchain-related developments on both the governmental and enterprise level. The Congress of the Republic of Peru spoke about the potential of blockchain tech, blockchain firm Aeternity revealed the development of a network that enables the management of the supply chain of medical cannabis, Venezuela’s central bank explored the possibilities of holding crypto in its coffers, and a subsidiary of Argentinian smart contract platform RSK purchased Latin America’s social media giant Taringa. Here is the past week of crypto and blockchain news…

The Story Behind the Explosive Growth of Crypto Funds

The explosive growth of crypto funds is a compelling story, especially when you consider that the concept has only been around for six years. Today, crypto funds have become the engine powering the thriving crypto industry. Compared to the 224 funds launched in 2017, 2018 showed unprecedented growth as 239 new crypto funds entered the fray.  However, many have projected that the number will drop in 2019. Yet, according to proprietary research by Crypto Fund Research, there are reasons to believe that the crypto fund industry will continue to make…

Blockchain Adoption as a Cure for Cross-Border Trading

In August of 2019, both the United States and Thailand announced their plans to test blockchain applications for tracking and managing shipments. The U.S. Customs and Border Protection (CBP) is planning to test a blockchain application against their current system to determine how distributed ledger technology (DLT) can improve its existing processes. Thailand, on the other hand, plans to use IBM’s blockchain-based logistics platform Tradelens to improve customs processes such as data sharing. Originally developed in a joint venture between IBM and logistics giant Maersk, Tradelens seeks to streamline processes…

Crypto Markets Turn Green Following Tough Week, BTC Price Above $8,000

Saturday, Sept. 28 — All of the top-20 cryptocurrencies by market cap have entered the green zone, recovering from recent losses, with Bitcoin (BTC) hovering above the $8,000 mark, according to Coin360. Cryptocurrency market daily overview. Source: Coin360 Over the past day, Bitcoin has been trading in a narrow corridor between $7,889 and $8,244, which mark the coin’s lowest and highest price points over the past 24 hours. At press time, BTC is trading at around $8,093, up around 1.6% on the day. On its weekly charts, BTC is down by…