$3.75B Food Safety Company Enlists Blockchain Startup to Track Sourcing

Neogen Corporation, a publicly-traded food safety company with a $3.75 billion market cap, looks to food industry blockchain startup Ripe Technology to track supply chains.  According to the press release, the two companies are going to work together to use blockchain as a permanent, immutable means to record the whole production process of food consumption and livestock.  The new partnership Neogen is an international food safety company that provides test kits and relevant products to detect dangerous substances in food, while Ripe was launched in 2017 and seeks to improve…

Italy’s Securities Regulator Shuts Down 8 Crypto Trading and Foreign Exchange Sites

Italy’s securities regulator has shut down six foreign exchange websites and two crypto investing and derivative trading sites.  According to Finance Magnates’ Feb. 10 report, the Commissione Nazionale per le Società e la Borsa (CONSOB) has accused these 8 FX sites of violating the Mifid2 and the Consolidated Law on Finance (TUF) for providing illegal trading products and services.  Crypto regulation in Italy Aiming to protect investors, the Italian authorities have set out to establish cryptocurrency regulation domestically. A 2016 ministerial resolution implemented a European Court of Justice decision. It…

SEC ‘Safe Harbor’ Proposal Lauded by Token Fans, DeFi Builders at 0x Conference

The token industry is applauding SEC Commissioner Hester Peirce’s “Safe Harbor” proposal, calling it a mature response to the 2017 ICO bubble. Announced the day before decentralized finance (DeFi) protocol 0x’s 0xpo conference last Friday in San Francisco, founders, lawyers and tokenization fanatics of all stripes said the proposal a boon for both entrepreneurs and investors in the nascent tokenization industry. And what better a place to ponder the news: an event dedicated to the permissionless exchange of digital assets with a deep roster of ethereum veterans in attendance. Add…

5 Reasons Coronavirus is Way Worse than You’ve Been Led to Believe

The conflicting information coming out about coronavirus speaks volumes about how dangerous the novel disease could be. There’s ample reason to believe the situation is likely much worse than anyone thinks. Here are five convincing reasons to believe so. The coronavirus is a whisker away from becoming a pandemic for the World Health Organization (WHO). In truth, it’s already a worldwide threat. By the time the WHO begins to digest what is going on, things could get much worse. The press and the authorities have been giving conflicting information, and…

Trump’s 2021 Budget Proposal Seeks to Optimize Crypto Policing

U.S. President Donald Trump’s $4.8 trillion budget proposal for FY 2021, released Monday, seeks to expand the Treasury Department’s cryptocurrency oversight by returning the United States Secret Service, now a division of the Department of Homeland Security, to its jurisdiction.  The reshuffling would “create new efficiencies” in the Secret Service’s investigation of criminal acts involving cryptocurrencies and the financial marketplace, the executive report reads. It will also give Treasury more fire power to, as the budget reads, “disrupt terrorist financing, hold rogue states and human rights abusers accountable, and detect…

3 Hypocritical Oscars Moments That Prove Hollywood Has Lost Its Mind

Hollywood exploits politics to get attention and distract from the growing irrelevance of the Oscars. The Oscars’ elitist attitude makes it a terrible platform for political activism. Not only did the Academy invite a homophobic performer, but it refused to show feminine hygiene ads during its broadcast. This year the Oscars proved once again just how out of touch with reality the Hollywood elites have become. LA’s finest gathered at the Dolby theater to pat each other on the back and show off their impeccable taste. From political statements to…

Huobi Joins Multinational Alliance Klaytn Governance Council

Huobi is the latest firm to join the Klaytn Governance Council, a part of Kakao’s public blockchain project which runs its distributed network under the shared governance.  The council grows  According to an early morning press release, the move will bolster a roster of some of the world’s largest digital enterprises, including Binance, LG Electronics and Kakao, Klaytn’s parent company.    Commenting on the addition, Sangmin Seo of council-member Ground X said:  “We are excited for Huobi to work with other Council members to jointly run and govern the Klaytn platform,…

Dow Rallies on Fed Liquidity as Bulls Ignore ‘FOMO Bubble’ Warnings

The U.S. stock market rose on Monday. Dow bulls pushed the index more than 100 points higher despite a rally in safe-haven assets. Nordea & Allianz both see a FOMO bubble forming from Fed intervention. The Dow Jones reversed early losses on Monday, grinding a step closer to 30,000 despite a spate of alarming coronavirus headlines. But as the overall U.S. stock market ignores the epidemic, which has now killed 910 people, investor nerves may be showing. Haven assets are rallying, and talk of a “FOMO bubble” continues to gather…

Crude Oil Crashes to 13-Month Low Amid Devastating Supply Shock

U.S. crude futures slide below $50 a barrel for the second time this month. Chinese energy demand is said to be plunging in the wake of the coronavirus outbreak. Russia and Saudi Arabia are at odds about production cuts, which threatens to undermine Moscow’s testy relations with OPEC. Crude prices nosedived on Monday, as the rapidly spreading coronavirus dampened the demand outlook for oil’s biggest consumer market. Russia and Saudi Arabia are reportedly at odds over how to adjust supplies in the wake of the negative demand shock. Oil Prices…

The Fate of Future Innovation in India

India has developed a somewhat paradoxical relationship with cryptocurrencies, blockchain and other emerging technologies. On one hand, the Indian government is a huge proponent of distributed ledger technology, with several government-led initiatives gaining ground across the country. On the other hand, the Reserve Bank of India issued a de facto ban on cryptocurrencies when it prohibited banks from conducting any transactions or dealings involving digital assets and related services in 2018.  Related: Cryptocurrency Regulation: An Indian Perspective Grappling for legitimacy This measure came as a huge blow to the country’s…