$18B Data Firm Using xDai Chain Sidechain for Payments at Conference

Publicly traded software firm Splunk is using Ethereum sidechain xDai Chain to power the payments at its Las Vegas SplunkConf 2019. Payments at the conference Per a report shared with Cointelegraph on Oct. 24, conference participants have the opportunity to use a dedicated, modified version of xDai’s Burnerwallet dubbed PonyPurse. Splunk’s Head of Blockchain and DLT Nate McKervey explained in a tweet sent on Oct. 21 that over 10,000 event attendees were able to spend Buttercup Bucks (BCB): “BCB is a digital currency running on the #Ethereum based @xdaichain. >10,000…

Cointelegraph Facebook Page Unpublished, One Month and Counting

Update: As of 09:30 PM UTC on Oct. 24, Cointelegraph’s access to its Facebook page has been restored. Cointelegraph’s official Facebook page, boasting more than 730,000 followers, has been banned by the social media giant, while the cause remains unclear. On Sept. 18, our page was removed from the platform’s search results. Consequently, Cointelegraph has been unable to publish anything on the account for over a month now, unable to reach the audience. Cointelegraph has reached out to Facebook for additional comments regarding the reason why the page has been…

After 6 Hours of Zuckerberg Testimony, Congress Still Hates Libra

Yesterday, Oct. 23, Cointelegraph reported from the United States House of Representatives as the Financial Services Committee questioned Facebook CEO Mark Zuckerberg for over six hours. While focused on the Libra Association and its planned Libra token, the hearing expanded to touch on a wide range of concerns and controversies surrounding Facebook.  The hearing was often contentious, with several members of Congress using their allotted five minutes of questioning to rail against Zuckerberg rather than ask him a single question. As Congressman Warren Davidson wryly commented to Cointelegraph, “I don’t…

Why Bitcoin Price May Dump After 2020 Halving

Bitcoin’s (BTC) upcoming 2020 halving event has already posted numerous anticipatory headlines as the market waits to see how crypto’s flagship asset will react regarding its price. Additionally, speculators have filled Twitter, commenting that Bitcoin should see a jump in price, as has statedly been the case in the past.  In contrast, some of Bitcoin’s charts show that the asset could possibly dump in the days following the halving, although, historically, all-time highs have followed halving events in the long term.    Based on Bitcoin’s programming and mining, the digital asset…

Investors Reject Refund Amid SEC Hearing Delay

Telegram’s ongoing saga with the U.S. Securities and Exchange Commission isn’t ending anytime soon. After the regulatory body swooped in with a last minute restraining order, Telegram has been embroiled in an increasingly strenuous legal battle to get the Telegram Online Network (TON) over the line. The blistering pace at which the latest developments have occured shows no sign of slowing, with the court hearing pushed back to February 2020 and investors voting against a refund of up to 77% of their initial investment.  Since the hammer of the SEC…

Eyeing African Market, Binance Adds Nigerian Fiat-to-Crypto Gateway

Binance has added a fiat-to-crypto gateway for Nigeria’s Niara (NGN), the company said. Facilitated by payments network Flutterwave, the addition starts a new phase of Binance adding sub-Saharan fiat pairs, the company said in a statement. In “the near future” the high-volume global exchange will also introduce gateways for South Africa’s Rand (ZAR) and Kenya’s Shilling (KES), Binance said. At launch, Binance limited the Nigerian trading pairs to BUSD/NGN, BNB/NGN and BTC/NGN. Investors can deposit between 150 NGN (about $.40) and 430,000 NGN (about $1,200) for a 1.4% fee, Binance…

US Financial Regulators Join UK FCA’s ‘Global Sandbox’

Four U.S. regulators joined the Global Financial Innovation Network, an international alliance of government regulators led by the UK’s Financial Conduct Authority seeking to bolster the future of fintech. The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have all signed onto the GFIN, an SEC spokesman confirmed to CoinDesk. Their participation in the network – established in August 2018 – brings federal regulators into GFIN’s mission of developing a “global sandbox” for…

Galaxy Digital to Launch 2 New Bitcoin Funds in November

Galaxy Digital Asset Management, a division of the merchant bank Galaxy Digital, is launching two bitcoin funds in November, according to a source with direct knowledge of the matter. Headed by billionaire ex-hedge fund manager Michael Novogratz, Galaxy is offering the funds to give accredited investors low-fee, institutionally managed bitcoin exposure and will make a seed investment into both funds. Novogratz hinted that the funds were in the works on CNBC. The Galaxy Bitcoin Fund will require a $25,000 minimum investment with optional quarterly redemptions. The Galaxy Institutional Bitcoin Fund…

Telegram Investors Stick With TON Plans Despite SEC Injuction

Telegram investors have turned down the offer of a refund on their investment in the TON ICO despite an injunction by the SEC delaying the launch of the network. Telegram, which is an important part of the crypto ecosystem due to its encrypted communication abilities, has been embroiled in a dispute with the US Securities and Exchange Commission, which argues that its planned blockchain, Telegram Open Network (TON), is a security, meaning the ICO was actually illegal. The commission issued an injunction last week preventing the company from launching TON…

App-Controlled Bank Current Raises $20M From Galaxy Digital and Others

Current, an online bank that allows app-controlled prepaid debit cards and personal checking accounts supervised by parents, has secured $20 million from a group of investors, including Galaxy Digital EOS VC Fund. Reaching $45M in fundraising Current announced the news in an Oct. 24 blog post, detailing that it had raised $20 million in a Series B round from investors including Galaxy Digital EOS VC Fund, asset management company Wellington Management Company and CUNA Mutual Group’s venture capital arm CMFG Ventures. The bank also saw renewed financial support from venture…