🗞 Daily Crypto News, October, 13th 💰

in #steem • 5 years ago

  • US SEC Halts TON Launch Over $1.7B ICO — Highest-Level Action Yet? ;
  • Zcash Will Get a Gateway Into Ethereum’s DeFi Ecosystem ;
  • Bitcoin Price Diary: How REN/BTC Double Bottom Made Me 49% Profit ;
  • Halving and Beyond: What the Future Holds for Bitcoin Miners ;
  • How Severe Is Roche Freedman’s Lawsuit Against Tether and Bitfinex? ;
  • 🗞 Daily Crypto News, October, 13th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 US SEC Halts TON Launch Over $1.7B ICO — Highest-Level Action Yet?

Late Friday, the United States Securities and Exchange Commission (SEC) announced that it is suing two offshore entities, Telegram and its wholly owned subsidiary, TON Issuer, for holding an unregistered token sale.

According to the complaint filed in the federal district court in Manhattan on the same day, Telegram sold approximately 2.9 billion crypto tokens, called Grams (GRM) to 171 buyers for a total of $1.7 billion. Around a quarter of that sum, $424.5 million, allegedly belonged to 31 purchasers based in the U.S.

As a result, the SEC has obtained a temporary restraining order against Telegram and TON, seeking “certain emergency relief,” as well as permanent injunctions, disgorgement with prejudgment interest and civil penalties. Now, the official Telegram channel for TON investors is suggesting that the launch, scheduled for Oct. 31, could be postponed. So, what is happening with the largest private initial coin offering (ICO) in history?

🗞 Zcash Will Get a Gateway Into Ethereum’s DeFi Ecosystem

When cryptocurrency fans gathered in Osaka, Japan, this week for the Devcon developer conference, the halls were filled with buzz about smaller projects seeking access to ethereum’s decentralized finance smorgasbord, especially loans and financial products, via interoperability.

“Connecting to other chains doesn’t seem to be an ethereum developer’s priority,” Summa co-founder James Prestwich told CoinDesk. “But other chains seem to want to connect to ethereum.”

For example, Josh Swihart, VP of marketing and business development at the Electric Coin Company (ECC), told CoinDesk that over the next six months the zcash community will develop a wrapped ZEC token that can be used on the ethereum blockchain. The privacy coin may one day become a conduit for private, automated loans and financial products.

🗞Bitcoin Price Diary: How REN/BTC Double Bottom Made Me 49% Profit

In this third installment of my Bitcoin Price Diary, I’ll revisit some open positions which are still in play and review a sizable trade on REN. I also have a position in Bitcoin (BTC) that is still largely open.

As I have said a number of times on Twitter, I believe that it has been an altcoin season for months and that altcoins found their local bottoms in August. I have been comfortably trading them since. In early October, Bitcoin dropped and was ranging sideways, giving altcoins even more room to appreciate.

At the time of writing, Bitcoin price is a few days removed from a sizable 6.6% move up, which caused a drop across the board on many altcoins. I am proceeding with caution on altcoins for the moment until Bitcoin has provided clearer direction for its next move.

[🗞 Halving and Beyond: What the Future Holds for Bitcoin Miners

](https://cryptonews.com/exclusives/halving-and-beyond-what-the-future-holds-for-bitcoin-miners-4849.htm)

Miners will try to increase their mining activity, so as to obtain a greater share of the hashrate.

It's possible that some mining pools and companies might in fact hoard fiat currency rather bitcoin in the lead up to May 2020.

Reward for mining Bitcoin (BTC) is estimated to halve in May 2020, dropping from today’s compensation of BTC 12.5 to only 6.25. The question is: how will this change the behavior of bitcoin mining companies/pools, and how will the bitcoin mining sector evolve more generally in the months and years to come?

On the one hand, experts working in the sector predict certain developments with some degree of assurance: mining machines will become more advanced and powerful, energy consumption will move increasingly towards renewables, and production costs will be squeezed downwards.

🗞 How Severe Is Roche Freedman’s Lawsuit Against Tether and Bitfinex?

At the start of October, New York-based legal firm Roche Freedman filed a new class-action lawsuit against stablecoin firm Tether and digital currency exchange Bitfinex. The case accuses the aforementioned entities of manipulating the market by using a host of sophisticated schemes that involved fraud, pump-and-dump schemes, as well as certain money laundering-related ploys. As a result of this legal drama, the USDT/BTC trade pair has witnessed a substantial decline in its market value (around 10% as of press time).

🗞 Daily Crypto News, October, 13th 💰

  • Chainlink (LINK), General Event (CRYPTO), QuarkChain (QKC), VeChain (VET)

"We would like to introduce QuarkChain, bitgrit, Chainlink, Vechain to everyone."

  • Bitcoin Cash (BCH), General Event (CRYPTO), DEX (DEX), Humaniq (HMQ), Quant (QNT), Horizen (ZEN)

ChainPoint 19 conference from October 14 - 15 in Armenia.

  • Skycoin (SKY)

"New hardware product launch."

  • Veros (VRS)

"Launch of the VEROS NEWS service."

  • Bitcoin Fast (BTCF)

Details about staking BTCF will be shared.

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

image.png

Here is the current chart :

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The correction is continuing on the STEEM. The correction on the BTC is not helping neither. We could go test for the third time the low around 0.124$ and it will be very important to see the reaction of the market on that level. A break of this support line would be a drama as we could go under the 0.10$ very quickly but it is a little bit early to think already about that.

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