Court Sides With SEC, Grants Injunction Against Issuing GRAMs

A United States District Court has granted an injunction against Telegram, preventing the company from issuing its GRAM tokens at the present time. Court says that GRAMS are securities under Howey test Per a March 24 filing granting the Securities and Exchange Commission’s request for a preliminary injunction, the Court wrote that: “The Court finds that the SEC has shown a substantial likelihood of success in proving that  the contracts and understandings at issue, including the sale of 2.9 billion Grams to 175 purchasers in exchange for $1.7 billion, are…

Binance Holds $1B in ERC-20 Stablecoins

Binance has more than $1 billion in ERC-20-based stablecoins as of March 24. This figure surpasses a milestone that quite far ahead of second-place Huobi. Binance holds $1,007,585,549 of these stablecoins as of press time, a balance that has grown some $105,583,132 over the past seven days, according to the global stablecoin exchange balance by Nansen. Huobi’s balance is slightly more than half that sum: $694,327,505. That figure represents a growth of $165,823,720 in the same seven days as Binance. These companies are distinctly leading the pack in stablecoin balance.…

Turning A Crisis Into An Opportunity, China Gets One Step Closer to CBDC

As central banks around the world are cutting interest rates to zero and taking aggressive action against the economic recession due to the coronavirus pandemic, China’s central bank is accelerating its central bank digital currency (CBDC) plan. According to a Global Times report on March 24, China is one step closer to issuing its CBDC. The Bank of China has completed development of the basic functions of the official digital currency and is now drafting laws that will help its implementation.  The Global Times also mentioned a number of Shenzhen-based…

Crypto Donation App BABB Waives Fees For Coronavirus Fundraisers

Crypto wallet banking and donation app BABB has announced the debut of its top-up function, a fee-waiving cash-out policy for COVID-19 fundraisers on its platform. According to the announcement, the company has also added a fiat gateway that every Android and iOS user will have access to. BABB clarifies that as long as the users pass the Know-Your-Customer verifications, they will be eligible. That said, customers who have not previously used BAX tokens or who are not familiar with trading or exchange platforms will be able to buy the BAX…

Solana and Chainlink Team Up To Build A Crazy Fast Oracle

Blockchain platform Solana has joined up with decentralized oracle solution Chainlink to construct an oracle that updates incredibly quickly.  “We recently saw market failures due to congestion on Ethereum, including oracle failures,” Solana CEO and founder Anatoly Yakovenko told Cointelegraph in an interview, adding:  “What we’re building with Chainlink is a high-frequency oracle that can give a price update every 400 milliseconds — and because of our capacity, we shouldn’t see those kinds of market failures on our network. It’s solving a fundamental problem that we see in the decentralized…

Texas Regulator Warns of New Crypto Frauds Amid Coronavirus Outbreak

The Texas State Securities Board (TSSB) has issued a warning on March 23 about crypto scams that have emerged in the wake of the COVID-19 pandemic. The report refers to different types of scam, among which are those related to crypto investments that promise high returns in the midst of the coronavirus crisis. Coronavirus-related scam methods Among other scams, one of the most common is called “pump and dump.” The sceme consists of fraudsters who, based on penny stock purchases, try to boost prices by sharing “positive” information that turns out…

Xbox Series X Controllers May Be Boring – But They’re Way Better Than the PS5’s

The Xbox Series X will continue using battery-powered controllers. This is an advantage over PlayStation’s rechargeable DualShock 5. Choice wins out in the end. Arguments about whether Microsoft or Sony makes a better controller have raged for nearly two decades. Most gamepad disputes pit Xbox’s asymmetrical analog sticks against PlayStation’s parallel ones. But as the Series X and PS5 prepare to launch this year, battery design suddenly features prominently in the debate. One Business Insider columnist torches Xbox for its decision to ship Series X controllers with disposable batteries. The…

Crypto.​com Simplifies Crypto Tax Reporting for Its Users

Payments and cryptocurrency platform Crypto.com has simplified cryptocurrency tax reporting for its users through a new partnership with three tax providers. On March 24, Crypto.com announced the collaboration with crypto tax calculator CoinTracker, crypto tax software platform TokenTax and crypto tax reporting firm CryptoTrader.Tax. Now, Crypto.com’s users can import their historical crypto transactions from the platform into one of the aforementioned tax reporting platforms to generate necessary tax reports. Users then can pass the forms along to a tax professional or transfer to tax filing software for further processing. A…

Crypto Exchange Bitfinex Unveils Anti-Manipulation Tool ‘Shimmer’

Cryptocurrency exchange Bitfinex deployed its proprietary market surveillance tool to combat market abuse on the platform called “Shimmer.” According to an announcement shared with Cointelegraph on March 24, Shimmer is meant to identify and investigate possible manipulative behaviours and suspicious trading on Bitfinex. The exchange expects that the integration of the tool with its matching engine will improve market integrity and visibility. Bitfinex’s team will be warned about suspicious trading Now, Bitfinex’s team will be alerted via email when potential improper trading activity is detected on any of the exchange’s…

Pioneering Crypto Bank Launches CHF-Backed Stablecoin

Pioneering Swiss crypto bank Sygnum unveiled a stablecoin pegged to the Swiss franc on March 20. Sygnum’s ‘DCHF’ “settlement token” is backed 1:1 by funds held with the Swiss National Bank. According to local media outlet Swissinfo, DCHF is under consideration for support from the forthcoming SDX digital assets trading platform from SIX Group — of which Sygnum is a member. Swiss crypto bank announces CHF-pegged “settlement token” The crypto bank aims to target institutional clients with its stablecoin, emphasizing that the coin enables fast and frictionless settlements alongside novel…