Indian police begin probe into alleged $270K cryptocurrency exchange scam

The operator of Delhi-based cryptocurrency platform Pluto Exchange is accused of duping 43 investors of more than $272,000. A local news outlet Millennium Post reported that the Economic Offence Wing of the Delhi Police has launched a probe against the operators of the Pluto Exchange after 43 investors filed a complaint with the EOW. Bharat Verma, the founder of Pluto Exchange, and others involved in the investment scheme allegedly lured investors by saying they were running crypto trading and cryptocurrency mining operations under the company “F2poolminin.” Joginder Kumar, one of…

The emergence of cryptocurrency hedge funds

I started exploring Bitcoin first in 2012 and, still today, I am fascinated by the opportunities and future potential digital assets pose as an emerging alternative asset class. One of the most relevant recent developments, which is often not covered, is the emergence of crypto hedge funds. Compared to the early days of crypto assets, when there were mainly private investors or traders in the space, a massive inflow of professionals entering the market has begun with the emergence of crypto hedge funds. In fact, looking at data from 150…

Dash is evolving into a decentralized cloud cryptocurrency

Payments-focused cryptocurrency Dash is starting to release insights into its new platform, which enables data to be stored within the network in the form of decentralized cloud service. The forthcoming Dash Platform has been developed from longstanding ideas to evolve the cryptocurrency’s functionalities — dating back to the announcement of “Dash Evolution” back in 2015. Dash Platform will incorporate four features: a Dash Drive, a decentralized API, or DAPI, a username layer, or DPNS, and the Dash platform protocol, or DPP. Speaking to Cointelegraph, Mark Mason outlined what exactly the…

Square launches cryptocurrency patent alliance to fight the trolls

Square, the U.S.-based financial services company headed by Twitter’s Jack Dorsey, is establishing a consortium to fight patent trolling and ensure open access to technology in the crypto sector. The ‘Cryptocurrency Open Patent Alliance’ (COPA) seeks to democratize access to innovative technologies in the crypto sector, asserting that “open access to patents covering foundational cryptocurrency technologies is necessary for the community to grow, freely innovate, and build new and better products.” Square is putting all of our crypto patents into a new non-profit org we’re calling the Crypto Open Patent…

Minecraft Will Get In-Game Cryptocurrency Items with Enjin

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Bitcoin and cryptocurrency are no hedge for inflation

The U.S. Federal Reserve chairman, Jerome Powell, recently announced that the Fed will now shift its focus from targeting inflation to closing “unemployment shortfalls.” The Fed, in essence, is doubling-down on the same inflationary policies with which it experimented during the 2008 global financial crisis. Speaking at a virtual Jackson Hole event recently, Powell said the Fed would not raise rates anytime soon. He also said that the Fed would tolerate higher inflation, departing from the historical norm of a 2% inflation target. This cheap money and higher inflation policy…

Digital Currency Group acquires cryptocurrency exchange Luno

One of the largest organizations investing in blockchain companies, Digital Currency Group, or DCG, has acquired the British multinational cryptocurrency exchange Luno. DCG first bought a stake in Luno by investing in the exchange’s seed round in 2014. Since then, the exchange has spread its roots across 40 countries and currently boasts of more than five million registered users on its platform. In an official announcement, DCG said it will make a “significant commitment” to help Luno further expand its territories in countries it already operates in and also help…

How to provide liquidity to cryptocurrency exchange

A trading venue’s liquidity represents how easily a trader can use the platform to exchange one asset for another. If a trader sends a market order to buy or sell an asset and the venue can’t find enough buy or sell orders to complete the transaction at a reasonable price, the venue is likely struggling with low liquidity — and the trader is likely to take their future business elsewhere.  Venues that provide adequate liquidity and competitive market pricing tend to experience a rewarding cycle, with traders who find their…

Cryptocurrency news from Japan: Aug. 23

This week’s headlines from Japan included one of country’s leaders describing Bitcoin creator Satoshi Nakamoto’s dream as meaningful, LayerX Labs collaborating with a Japanese university for blockchain research, the FINSUM blockchain conference hosts notable discussion on security tokens offerings, and the head of Monex Group saying Japan is falling behind the U.S. on STOs.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese Financial Services Agency head describes Bitcoin as impactful At the end of Tokyo’s 2020 Blockchain Global Governance Conference, or BG2C,…

A Japanese Court Just Ordered the Nation’s First Cryptocurrency Seizure

The Tokyo District Court has issued Japan’s first ever crypto seizure. $46,000 worth of Bitcoin (BTC) was expropriated in relation to a hack suffered by the Coincheck exchange in 2018. Kyodo reported that police have already seized the BTC, which was held by a doctor from Hokkaido and an executive from the Osaka Prefecture. The two men were arrested in connection with the hack. They are accused of knowingly purchasing the stolen NEM (XEM) through a dark web market, violating organized crime laws in the country. As Cointelegraph reported in…