A brief description onto the ongoing news in the crypto market, following this weekend are as under:
Smart contact tokenization protocol enactment on the Bitcoin Cash ‘BCH’ blockchain has been proposed by the developers of mining giant in China ‘Bitmain’. This new protocol feature also called Wormhole is based on the Omni Layer Protocol alongside with OP_Return and the increased data-carrier-size firstly introduced through a WeChat group without having to change the existing development codes thereby to create a smart contract solution using the BCH BlockChain technology. Although this seems good for the crypto community but currently this seems to be pure speculation, though, as there is not yet an official announcement about Wormhole. In upcoming days we are expecting more about this interesting project.
Accidently lifted Bitcoin price’s
Black Rock, one of the world’s largest asset managers is investing in setting up a group to study the cryptocurrencies which become an important factor to lift the Bitcoin’s price to jump by a few hundred dollars. There is a lot of speculation that this new investment option could trigger a new bull run to push bitcoins to new heights. The another speculation trending the market is the Bitcoin ETF proposal to be accepted or rejected by the U.S. Securities and Exchange Commission ’SEC’.
There are a numerous rumors in the market considering ETF proposal to be accepted by SEC however the final verdict against its approval is since not confirmed. ETF stands for Exchange traded fund. The proposal for Bitcoin linked ETF was filed by VanEck Corp. and Solid X Partners Inc. to the SEC for the world’s first actual Bitcoin backed exchange. In simple term’s this means to actually hold bitcoins insured against all breakdowns arising from loss or theft of the cryptocurrencies, according to the firms.
Photography company Kodak into mining
Photography company Kodak after going bankrupt and unable to keep up with the digital world, stole the sight of many people at the CES show by announcing that the company’s new working, would be now shifting to the crypto sector by introducing the Kodak Kash Miner.
As within the assured time, Kodak coin failed to meet the deadlines, the share prices inflated by the three ring circus, rapidly fell and now it seems Kodak is admitting the mining scheme was economical with the truth and figures. They claimed to have 80 machines already working in their New York HQ with cheap electricity and now it seems the machines were never there, with a spokesman for Kodak admitting to the BBC: “While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.”
$1.4 Mln USD raised By Binance
As the Western regions of Japan are still reeling from the recent floods which cost the lives of over 200 people, displaced tens of thousands of people from their homes and caused widespread damage, chinese cryptocurrency exchange Binance has launched a charity appeal that has already raised $1.4 million in digital money that will soon be transferred to Japanese aid agencies in the area. The charity went for over a week and Binance itself added $1 million of its own funds.
Trump’s new task force to police the crypto sphere
The main headline for this week is the Statement of Mr. Donald Trump at the Helsinki press conference following his annual performance review. He has signed an order to set up a cross agency task team with a focus on fraud within the crypto communities globally.
Among the task force’s members are FBI Director Christopher Wray and Deputy Attorney General Rod Rosenstein, with representatives from SEC, FTC and Consumer associations, with a mandate to fight fraud not only against the government but consumers and the market as well.