coin renders

Use our news to inform cryptocurrency trading decisions, stay up-to-date on happenings in the industry, and more!

Wells Fargo Is The Latest Bank To Block Cryptocurrency Purchases On Credit
You can’t buy bitcoin with Wells Fargo credit cards anymore. Engadget reports, “Wells Fargo is pumping the brakes on customers using their credit cards to buy bitcoin — the bank has banned credit card cryptocurrency purchases. However, this isn’t a permanent measure, as Wells Fargo will monitor the crypto market and reassess the issue as needed”.

SEC Launches ICO Portal: Highlights Risks, Rewards, and Responsibilities
According to Tony Spilotro of BlockExplorer, “The United States Securities and Exchange Commission (SEC) is vehemently opposed to a common crowdfunding practice in the cryptocurrency industry called the initial coin offering (ICO). An ICO is similar to an initial public offering where a company or corporation raises investment capital by offering its stock to the public for the first time. Only in an ICO, a digital currency or token is distributed instead of a stock, and the token can have a variety of uses that blur the line of what defines a traditional security.”

Hackers Steal $20 Million Of Ethereum From Ethereum-based Apps and Mining Rigs
The Chinese cyber-security firm Qihoo 360 Netlab reported hackers stole over $20 million of Ethereum. BleepingComputer tells us, “The cause of these thefts is Ethereum software applications that have been configured to expose an RPC [Remote Procedure Call] interface on port 8545. The purpose of this interface is to provide access to a programmatic API that an approved third-party service or app can query and interact or retrieve data from the original Ethereum-based service —such as a mineror wallet application that users or companies have set up for mining or managing funds.”

Argo Blockchain to List on London Stock Exchange, Launches Subscription Crypto-mining
Argo Blockchain, a business that seeks to offer cryptocurrency-mining to the masses, announced its plans to list its shares on the London Stock Exchange. BlockExplorer’s Julia Travers shares with us that “the announcement coincided with the launch of Argo’s Mining as a Service, or MaaS, program, which will allow users to participate in mining through the Argo site with their home computers or smartphones.”

Bitcoin mining

Argo Blockchain, a business that seeks to offer cryptocurrency-mining to the masses, announced its plans to list its shares on the London Stock Exchange or LSE on June 11, 2018. This announcement coincided with the launch of Argo’s Mining as a Service, or MaaS, program, which will allow users to participate in mining through the Argo site with their home computers or smartphones. According to the announcements, Argo expects its valuation to be £40 million, or about $54 million, and to raise £20 million, or about $27 million. Argo plans to use the money raises to fund the growth if its MaaS services. Co-founder Jonathan Bixby said:

We have launched this service to take the pain and heartache out of participating in the biggest new technology breakthrough since the launch of the internet.

Argo aims to be the first crypto-mining company on the LSE. In 2015, blockchain-focused investment business Coinsilium was the first cryptocurrency-related company to hold an IPO on LSE’s submarket for smaller companies, AIM.

Argo was established in 2017. According to the company announcements, its technology invites the public at large to become crypto-miners, “without the need to have significant computing expertise or acquire complex and expensive hardware and have the frustration of setting up their own systems.”

Argo compares its mainstream mining services to the cloud computing revolution of the last decade, and Bixby told The Financial Times it wants to be “the Amazon web services of crypto.” Subscribers to Argo’s cloud-based platform sign up for a specific amount of mining capacity and can choose what to mine, which mining pool to join and where to store their coins off the site. Introductory fees to join its pools are £18 or about $25 per month. Currently, it mines the digital currencies Bitcoin Gold, Ethereum, Ethereum Classic and Zcash, but this may change in the future.

Argo is headquartered in London and has a mining facility in Quebec. It currently has 7 racks, each holding 10 servers with 8 GPUs each in Canada, and it has also started “initial operations” in China. Argo’s primary targets customers are in Europe, North America and Australia. The company plans to rely on renewable energy like solar and hydropower.

Bixby describes the company’s plan to go public in this way:

A London stock market listing will provide Argo with the profile, credibility and access to global capital to drive our growth and help us establish a leadership position in the long term.

The featured image is the Argo logo, credit: Argo.

coin renders

Use our news to inform cryptocurrency trading decisions, stay up-to-date on happenings in the industry, and more!

Blockchain To Be Integrated In ‘Dungeon Defenders’ Game
Video game publisher Trendy Entertainment, Coindesk reports, “is partnering with startup Signal Zero to integrate a blockchain-based rewards system with its flagship Dungeon Defenders franchise.”

About Half Of Crypto Investors Plan To Hodl Long-Term
On June 7, 2018, BlockExplorer’s Julia Travers reported that South Korean Cryptocurrency Exchange Bithumb released the results of a user survey called, ‘Cryptographic Investment Trends’. It captured the perspective of 2,507 virtual currency investors over the age of 20. The survey included questions on investment plans and government regulations. A notable finding was that 42.8 percent of those surveyed plan to “hodl” or keep their crypto-investments over the long term.

Andy Warhol Art To Be Sold For Bitcoin Via Ethereum Blockchain
In the latest landmark for Bitcoin, Forbes reports, “cryptocurrency and blockchain technology, a London art gallery will later this month auction a portion of Andy Warhol’s 1980 work 14 Small Electric Chairs for cryptocurrencies.”

Chinese Whale Has Amassed Largest Non-Exchange Bitcoin Stash
BlockExplorer’s Tony Spilotro says, “A mysterious Chinese investor has been ‘buying the dip’ so to speak, again and again, amassing one of the largest bitcoin wallets in the entire world.”

Image courtesy of Carty Sewill, http://cartyisme.com/

coin renders

Use our news to inform cryptocurrency trading decisions, stay up-to-date on happenings in the industry, and more!

Crypto Start-up Gives Millions to Top Schools to Encourage Blockchain Adoption
San Francisco-based Ripple has announced the University Blockchain Research Initiative – a partnership with 17 top universities from around the globe focused on supporting and accelerating “academic research, technical development and innovation in blockchain, cryptocurrency, and digital payments.”

Samsung SDS Unveils Blockchain-Based Finance Platform Nexfinance
Samsung SDS unveiled Nexfinance, a platform that will offer services such as digital identity, finance concierge, an artificial intelligence virtual assistant, and automatic insurance payment, according to ZDNet.

Bitcoin May Finally Be Bottoming, Chart Watcher Says
Rob Sluymer, a technical strategist at Fundstrat Global Advisors, sent a note to clients, as reported by MarketWatch, “While it is premature to conclude the correction is over, there was a positive technical development this week suggesting the first stage of a three-stage bottoming process is developing.”

Bitcoin, Ethereum and Ripple Price Predictions
The three main Cryptocurrencies kept their bullish profile over the weekend. FXStreet analyzes the three, “This is a very particular technical scenario, as each one of this trio of Cryptos has its own different scenario, but with similar results in the price action.”

Image courtesy of Carty Sewill, http://cartyisme.com/

coin renders

Use our news to inform cryptocurrency trading decisions, stay up-to-date on happenings in the industry, and more!

US Department of Justice, CFTC Investigating Bitcoin Market Manipulation
The United States Department of Justice has launched a probe into claims of market manipulation across bitcoin markets. BlockExplorer’s Tony Spilotro tells us that the investigation is in collaboration with the Commodities and Futures Trading Commission, which oversees derivatives of bitcoin and other coins.

Revolut Users Make 100,000 Bitcoin, Litecoin And Ethereum Exchanges Every Day
Forbes reports, “London-based fintech startup Revolut — which is today adding Bitcoin Cash and Ripple XRP to its cryptocurrency trading app — has revealed its users make around 100,000 Bitcoin, Litecoin and Ethereum exchanges everyday.”

Coinbase To Add Crypto Staking Feature in the Future
San Francisco-based Coinbase, one of the United States largest cryptocurrency exchanges, is following up their most profitable fiscal year with aggressive expansion, making a number of big-name acquisitions such as Earn and Cipher Browser, and rolling out an extensive suite of new products aimed at satisfying the needs of institutional investors.

American Express Announces a Blockchain Application To Its Membership Rewards Program
American Express is integrating blockchain technology developed by Hyperledger, an open source blockchain project, that will let merchants create customized offers for cardholders.

Image courtesy of Carty Sewill, http://cartyisme.com/