“Data from Coin.dance — corroborated by other sources — indicates that the network’s hash rate plummeted yesterday from over 98,000,000 TH/S to 57,700,000 TH/s.
By press time, Bitcoin’s hash rate has somewhat recovered back to almost 88,300,000 TH/s — yet remains well below its earlier records.
The flash drop remains unexplained as of press time.”
“Following reports its crypto-focused subsidiary Kin had laid off 70 employees, Kik Interactive CEO Ted Livingston announced Monday that Kik will also be shutting down its core messaging service.
While the Kik app is shutting down, Livingston said the core developer team is pivoting toward developing the KIN token.
After 18 months of working with the SEC the only choice they gave us was to either label Kin a security or fight them in court. So with the SEC working to characterize almost all cryptocurrencies as securities we made the decision to step forward and fight. Kin is a currency used by millions of people in dozens of independent apps. So while the SEC might be able to push us around, taking on the broader Kin Ecosystem will be a much bigger fight.”
“Commissioner Hester M. Peirce expressed concern about “overriding investor preferences,” saying that the job of the SEC is not to make decisions for investors.
Rep. Emanuel Cleaver asked Clayton whether any concerns had been sent to Facebook. Clayton said that there is a group within the SEC that is working on the question and has its doors open.
Rep. Anthony Gonzalez commented further on concerns that innovation in crypto was leaving the U.S. due to lack of regulation. He asked the commissioners: ‘when can we expect something a little bit more concrete from the SEC — or what are you doing to get there — so we can just provide some certainty here?‘ Gonzalez’s concluding remark was simply ‘Go faster.'”
“Marsh & McLennan, the world’s largest insurance broker, has arranged an unusually generous and comprehensive insurance program for a new cryptocurrency custodian called KNØX.
Unveiled Tuesday, Montreal-based KNØX is courting wealth managers and hedge funds with its cold storage service, in which the cryptographic private keys to a wallet are kept offline. To give potential clients additional peace of mind, the insurance arranged by Marsh covers them in case of external theft and internal collusion, up to the full value of their holdings.”
“The new cryptocurrency payments system is launching via a partnership between point-of-sale technology provider Global POS, the EasyWallet application and payments platform Easy2Play.
While payments will be made in Bitcoin (BTC), funds will be automatically converted into euros at the moment of sale. While Bitcoin remains the sole cryptocurrency on the cards for now, Dijane has indicated the platform intends to roll out support for altcoins in the future.”
“Bitfinex has announced the relaunch of its Initial Exchange Offering (IEO) platform Tokinex as Bitfinex Token Sales and will offer the token of P2P digital content and monetization blockchain K.IM on October 22.
I founded K.im to allow artists, content creators and digital businesses to cut out all the middlemen and sell content and digital goods without censorship.”
“Bitfinex does not need to continue turning over documents to the New York Attorney General’s office (OAG) – at least, for now. The Appellate Division of the Supreme Court has stayed a previous ruling by New York Supreme Court Judge Joel Cohen.
An NYAG spokesperson told CoinDesk that, ‘The injunction that prohibits the movement of money between Tether and Bitfinex is still in place, that has not changed. We look forward to making our case in court as we seek to have Judge Cohen’s decision upheld and continue our investigation.'”
“The point of the Connext Network is to help Ethereum to process more transactions without actually changing the nature of the Ethereum network itself.
To do so, Connext runs on Counterfactual, a protocol for using state channels on the Ethereum mainnet.”
“The SEC has begun evaluating the proposed rule change to allow NYSE Arca to list and trade shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust.
The SEC faces a final deadline to approve or disapprove a bitcoin ETF proposed by Bitwise Asset Management in the middle of October.”
“To meed the internationally recognized ISO/IEC 27001 standard, Binance said, it was audited by Norway based DNV GL, an international accredited registrar and classification society, and the United Kingdom Accreditation Service.
For the audits, Binance was examined on 114 criteria across 14 categories, including security policy, asset management, operational security and information systems.
Obtaining the ISO certification is one significant aspect of our security commitment to the industry and our community. We will continue to advance our investment and endeavours in improving cyber security defense.”