Institutional bitcoin exchange of Seed CX received Regulations

Management of financial services of the state of new York (NYDFS) has issued two licenses to conduct activities in the field of virtual currencies (Regulations), companies Seed Digital Commodities Market LLC (SCXM) and Zero Hash LLC. They are both operators of bitcoin exchange for institutional investors Seed CX.

Note that the Zero Hash LLC also obtained a license for implementation of money transfers, which allows it to provide services to major financial companies in partnership with SCXM, which provides trade bitcoin.

Seed CX offers the customers to trade via FIX Protocol, graphical user interface (GUI) and web API. At the same time, the exchange offers margin instruments and dollar deposits are stored in U.S. banks and insured by the Federal Corporation on insurance of contributions (FDIC).

The spot market for bitcoin exchange launched in early 2019. At the same time, it supports Ethereum, Litecoin and Bitcoin Cash; of Fiat currencies — US dollar, British pound, Euro and yen.

In the coming months, Seed CX intends to obtain the approval of the Commission on urgent exchange trade of the USA (CFTC) to launch deliverable bitcoin futures. Thus it will compete with the Bakkt, ErisX, LedgerX and trueDigital.

Recall, the main investor in Seed CX is a venture capital firm Bain Capital Ventures. At the moment the stock exchange has attracted at least $25 million.


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The Minister of Finance of the United States shared the position of Donald trump about bitcoin and Libra

In anticipation of Tuesday’s speech the head of the blockchain division Facebook David Marcus in Congress, the US Treasury Secretary Steven Mnuchin held a press conference at which he announced that the administration trump has «very serious doubts» in relation to Libra digital currency, and bitcoin and other cryptocurrencies in General. It is reported Bloomberg.

In particular, Mnuchin said that digital currencies can facilitate money laundering and other illegal activities, and promised that the U.S. Treasury will make every effort to counter the offenders of the law.

«It’s really a matter of national security. We will not allow providers of services in the field of digital currencies to operate in the shadows,» he said.

Any specific measures that intends to take the Ministry, the Minister is not named, but many of his words sounded in unison with the statements made last week by US President Donald trump.

«Bitcoin is characterized by high volatility, he has not provided. We are concerned about its speculative nature and will do everything necessary to protect the US financial system from fraud,» said Mnuchin.

He also added that he plans to discuss this «problem» at the summit «the Big seven» which will be held this week in France, stressing that extensive discussions are already underway with fed Chairman Jerome Powell.

Earlier on Monday David Marcus published a written version of their upcoming performances in the U.S. Congress. In particular, he stressed that the activities of the consortium Libra Association will be governed by the Swiss service for supervision of financial markets (FINMA), and the launch of the project Libra will be only after I dispelled the doubts of the regulators.



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Analysis of prices BTC, ETH, XRP (16.07.19)

BTC/USD

Yesterday, from the point of local minimum 9855.00 USD BTC price failed to recover above $ 11000.00 USD. Late night was installed a maximum at the point 11080.00 USD.

When the trading volume dropped below average, a couple entrenched in the consolidation over time of the moving average EMA55. Using this weak support level, the pair could test resistance 11250.00 USD, but the prevalence of bearish sentiments will not allow the customers to continue the growth.

Today the sellers will once again roll back the price towards the psychological mark 10000.00 USD, and if sales exceed the average level of the consolidation range will expand to the level 9700.00 USD.

ETH/USD

After the broadcast yesterday price managed to consolidate above a level of 100% Fibo (222.98 USD), the recovery continued. At the end of the day were the maximum is around 235.00 USD. To test EMA55 hourly from buyers and did not work.

Overnight the pair has consolidated in a narrowing consolidation. The volume of purchases started to decrease and if the level of 100% Fibo today can’t handle the support, then the sellers will return the price in the region of USD 200.00.

XRP/USD

Yesterday, the buyers won abroad 0.310 USD and continued recovery to resistance 0.320 USD. In this area EMA55 hourly limit further growth of the pair. All day and all night, the XRP price has been consolidating between the upper boundary of the yellow corridor and the level of average prices.

Today the sellers will try to put a couple in the yellow range and will compete with buyers at the turn 0.310 USD.

* All prices shown are based on data exchange BitStamp



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First interview after abduction: Paul Lerner about security and new job

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In 2017, a kidnapping leading analyst of crypto currency exchange EXMO Paul Lerner. December 26, people in dark clothes and balaclavas force dragged Paul into the car and drove away in an unknown direction. Lerner was released on bond three days later after payment of ransom to the kidnappers.

After kidnapping Paul left Ukraine and continued to work in kriptonyte. Now he deals with quantum Analytics in the company BitSonar.

In an exclusive interview ForkLog Paul Lerner told about life after the abduction, advice on how to ensure personal safety, and shared information about the project, which now works.

ForkLog: Last winter we closely followed the news about your abduction. There were rumors that you were injured. Is this true?

Paul Lerner: severe injuries I received. The handcuffs were cracks in the bones radiation. Wrists still hurt sometimes. A few months after the abduction it was hard to print. At this time I could not engage in their main activity — programming and market analysis.

My major injury is psychological. I do not think such incidents are the norm. Well that was near family and friends. They helped me to escape from this situation.

FL: How do you feel now?

Paul Lerner: Much better. The wounds have healed. Trying not to think about the abduction and move on.

FL: What have you learned from this traumatic for any individual situation?

Paul Lerner: After the abduction, I began to think more about their safety. And I advise you to do it.

I also want to note that during the abduction, there were many publications in the media, so it has taken control of influential leaders of Kiev. When I was released — or rather, was thrown from the car — started constant communication with the police of Ukraine.

The police acted quite professionally. The investigation is ongoing, but it is unlikely they will be able to reach the culprits.

FL: In some media there were rumors that the kidnapping was part of the SBU. Is this true?

Paul Lerner: I’ve heard such rumors, but I think they are spreading to discredit the Agency. Perhaps the reason was the situation with the editor-in-chief Forklog. Shortly before my abduction came to him from the SBU and took the money.

I think that the kidnappers were common criminals. My assumptions are based on how they behaved. SBU would work more professionally.

The investigator showed me an ad from the darknet: find dollar millionaires, and we will give you cashback for the tip. The list had about 20 names. I’m not the first one pulled.

Nobody is insured from such cases, especially in countries with a low level of personal security. Cryptocurrency millionaires often don’t realize that someone can take away their money. In our circle people don’t kidnap each other. We don’t know about the «roof» and «float» and therefore go without protection.

FL: what do you think were the motives of the kidnappers?

Paul Lerner: greed. The kidnappers demanded to give all my bitcoins. Apparently, they are not oriented in the issue and requested as a ransom of 10 thousand bitcoins. Then bitcoin was worth $20 thousand.

FL: How much are they required to pay?

Paul Lerner: the Total ransom amounted to 102 of bitcoin. At the time — about $2 million.

FL: are You going to prosecute the offenders? Are there any news in this direction?

Paul Lerner: I’d like to see justice done. As far as I know, the investigation continues, there is a list of suspects. Someone was even arrested, but the customer will not find.

Rather, the case involved an international network of organized crime. The kidnappers could have come from another country only to perform «work». If, for example, from the Russian Federation, the interior Ministry will not be able to deliver them in Ukraine due to political disagreements.

FL: What advice would you give to the holders of altcoins who want more personal safety?

Paul Lerner: to Kidnap and Rob can anyone. It is a question of price and time. Your task is to make the attacker understand: it is easier to Rob a twenty stalls and ride off into the sunset on a fire truck.

What to do:

  • Change country. If you live in the former Soviet Union, to move. Will fit European or Asian country with a high level of security. Consider the countries where you will feel safe with the physical and legal point of view.
  • Do not spare money for competent lawyers. If you have problems with the authorities or the criminals, the lawyers will immediately begin to act. They have a much more useful familiar than you or your loved ones.
  • Become part of the local community. Legal and financial support better find such places. When like-minded people together and systematically building processes, there is a new level of service.
  • Carry a tracking device: a bracelet, watch or ring. Such a device can send a signal with your location to lawyers and family. I saw their American counterparts, the rings with the secret button. If the ring is to remove and long press the button, the device sounds the alarm.

These methods we use in BitSonar when working with VIP-investors. People with large deposits need to feel safe. So they will be able to create something useful, and not to move around the city in short rushes.

FL: Now it’s all better, you work in BitSonar. Tell us a little about this project.

Paul Lerner: the Project deals with quantum Analytics. Using software, we analyze data over large periods of time, we find a match, build hypotheses and test them. If this hypothesis is confirmed, we make it quantum strategy.

BitSonar is not limited to the field of cryptocurrencies. This is not just a project but a philosophy for the new world. While I can’t divulge the details. I can say that BitSonar plans to solve problems related to personal freedom, security, movement and disposal of assets.

FL: What is your role in the project?

Paul Lerner: In BitSonar I am responsible for the direction of algorithmic trading cryptocurrencies.

Mathematics and physics in a project valued more traders. To find an experienced quantum Analytics is very difficult. Most often we find young mathematicians and physicists and train them.

FL: How did you start to cooperate with BitSonar?

Paul Lerner: BitSonar suggested that I evaluate their algoritmo-trading part. I liked their system, team and partners. We have similar views on freedom of modern man and the place of cryptocurrencies in them. I think that’s why I was asked to oversee the Department of algorithmic trading.

FL: How did you get into cryptinputstream? Why you all started?

Paul Lerner: I graduated from the physical-mathematical Institute of the Kursk state University. There, I defended my dissertation, and then taught at the Department of information security. I worked with all possible types of encryption, and eventually learned about the cryptocurrency.

The first cryptocurrency I had in 2013. It was litecoin. I minil them on the CPU and the graphics card when in the computer lab didn’t have classes. Once we with the friend have spent 17 thousand litecoin on a trip to Egypt. He still asks me: «Why didn’t you stop me?»

Then I participated in creating the first crypto currency exchange. The founders of the project have entrusted me with team selection. I managed the development process. Just writing code and testing, we spent 14-16 months.

First, the exchange was called Exmine, then EXMO. In the first year was very difficult. We had 8-10 people, each performed all of the roles they could. I was appointed Manager of the exchange. I consulted a cryptocurrency, set up matching exchange and implemented algorithmic technology. When we implemented the work with glasses, own data and other exchanges, and the profitability of EXMO has increased several times.

There were few altcoins. Not many remember that the Dash was then called Darkcoin. Those were fun times! At that time I dealt only with exchange. Later I had other projects libertarian direction. They, the cryptocurrency was a means of investment, holding and managing the funds.

In addition, I ran cryptobranchidae: tried to establish and accelerate the adoption of cryptocurrency society. I wanted people to be able to exchange cryptocurrency for Fiat money in any country of the world.

FL: Have BitSonar also an interesting story. The company is registered in Estonia, the developers are in Malaysia, and the CEO had not been seen in cryptoprocta. How does the project team?

Paul Lerner: BitSonar created a community of professionals and investors that raise their level of financial literacy and independence. The structure of the company reflects our philosophy. We got rid of the borders that society imposes.

We chose Estonian jurisdiction over friendly cryptomeria legislation. However, the cryptocurrency has no boundaries. In this area the efficiency does not depend on time in the office and planning meetings on Mondays.

BitSonar trying to increase the freedom of its employees. Analysts, financiers, and few programmers are in Spain. Malaysian developers — the authors of the first algorithms BitSonar — always traveling. They need only a laptop and Internet. In addition, we cooperate with experts from the USA, Russia and Ukraine.

The project’s CEO Marius Subca — a man of incredible energy and a great Manager. It links scattered around the world employees. Thanks to him, developers, analysts, marketers and brand ambassadors are working as a harmonious mechanism.

FL: who are the essential features of the project?

Paul Lerner: first to the holders. Many of them bought bitcoin at $17-18 thousand. For them, kryptonite has not yet arrived. Such people have bitcoin and Ethereum are idle. BitSonar will increase the number of coins in the wallets of holders with the help of robots, neural networks and quantum strategies. We are working on sites with highly liquid instruments like BitMEX, Binance and Huobi.

Other potential clients — the people who invest in risky projects and use trading bots. They need to know what strategies are effective in cryptocurrency market right now. Many of the tools do not work on the classic market due to the speed of the servers and management. However, they can still be used in cryptocurrency trading. For example, on the classic market is almost impossible to earn arbitrage and kaptarenko this strategy gives you a steady income.

The important thing is that the world of cryptocurrencies is constantly growing and changing. Analysts, programmers, and traders useful to unite, develop hypothesis and make a profit.


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Dagestan kidnapped «Russian grids» electricity for 4.4 million rubles for mining

«Rossetti North Caucasus» found illegal connection mining farm in the town of Buynaksk. The damage from the theft of electricity is approximately 4.4 million. About TASS reported by representatives of the company.

«The owner of the object A. Magomedov made the act of non-contractual consumption of electric power», — said the press service of «Russian grids».

It is reported that electricity attacker used for mining cryptocurrency.

The company has already passed the information about the incident to law enforcement. In addition to the charge incurred by Russian grids of damage Magomedov waiting for administrative punishment, and he could face criminal liability.

It is also worth noting, lately it already the fifth case of illegal activities of mining farms in Dagestan. According to preliminary calculations, the amount of damage the company «rosseti North Caucasus» from cases of theft of electricity for mining identified from may to July of this year, more than 40 million rubles.

Earlier, China’s law enforcement authorities closed mining farm because of one of the largest thefts of electricity in the history of Jiangsu province.


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Bitcoin exchange Bitfinex intends to buy tokens LEO profit margin from commissions

Cryptocurrency exchange Bitfinex will direct at least 27% of the profits from commissions for margin trading on the redemption tokens UNUS SED LEO.

Note that on 14 July it was held the first such redemption. Exchange used 27% profit margin from commissions in the last 40 days.

Earlier Bitfinex announced that it will use for the redemption of LEO part of the profits from the platform for holding the IEO Tokinex.

Recall that Bitfinex is going to release its own token, it became known in late April.

Later, the exchange announced the launch of the burning mechanism tokens, and also introduced the «transparency initiative» for public control over the process.


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The published text of the upcoming speech Calibra CEO David Marcus in the U.S. Congress

Calibra CEO David Marcus published a written version of their upcoming performances in the U.S. Congress. In it, he stressed that the activities of the consortium Libra Association will be governed by the Swiss service for supervision of financial markets (FINMA), and the launch of the project Libra will not take place until doubts regulators will not be dispelled.

Marcus Testimony 7-16-19 by ForkLog on Scribd

«I expect that between now and launch will be the most rigorous regulatory inspection in the history of Finance. I’d like to clarify our position: Facebook will not launch a digital currency to Libra until all doubts regulators will not be dispelled and all permits not be received».

However, Marcus immediately added that to maintain the status quo any longer. Too many people around the world can cheaply and quickly transfer their money. Libra can change that, he said.

The head of the Calibra stressed that Facebook already democratized communication and intend to do the same with financial services. The company will renounce control over the network that you create, and will retain the same rights as other members of the consortium.

«Libra is a payment tool and not an investment. People will not buy and hold it as shares or bonds».

Digital currency Libra will be provided a basket of Fiat currencies (US dollar, British pound and yen), as well as liquid government securities. These assets will be stored geographically distributed network of regulated custodians.

«Libra Association does not intend to compete with sovereign currencies or to intervene in monetary policy. Monetary policy is the preserve of Central banks.»

The organization intends to obtain a license from the financial services industry from FinCEN and comply with AML/CFT, added Marcus.

«Privacy in the blockchain Libra will be the same as in the existing block chain: public will be information about the sender/recipient, amount of transaction and time stamp. The Association will not collect or store personal data of users.»

Unit Calibra, as previously reported, makes digital wallet for Libra, which should enable 90 million businesses on the Facebook platform to establish a more direct financial relationship with the users of the social network. The data Calibra will not be shared Libra Association or Facebook, so they would not be used for promotional purposes, concluded Marcus.

It Calibra will be a fully regulated company under the supervision of the Federal trade Commission (FTC), FinCEN and the Bureau for financial consumer protection. The unit will comply with KYC/AML/CFT, as well as US Law on banking secrecy.

We will remind, on July 16 and 17 will hold hearings on Libra in the Banking Committee of the Senate and the Committee on financial services of the house of representatives, respectively.


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Analyst: hearing on Libra in the U.S. Congress — an important factor for the price of bitcoin

On the night of 15 July, the price of bitcoin briefly fell below $10 000, for the first time since February after testing 50-day moving average (MA) for strength. Quotes have the pressure of succeeding hearings on the project Libra in the U.S. Congress, the outcome of which largely will determine price movements in the near future, the analyst believes CoinDesk Markets Omkar Godbole.

Thus, on 16 July Calibra CEO David Marcus to be brought before the Banking committees of the Senate and 17 July, before the Committee on financial services of the house of representatives. In the past, said the analyst, the price of bitcoin has declined in anticipation of hearings on cryptocurrencies, but then showed growth.

Similar price movement was seen last July when the price drop was preceded by a hearing entitled «the Future of money: digital currency» in the House of representatives. When congressmen gathered for the discussion, the bitcoin price began to rise, despite the calls of brad Sherman on banning its production and purchase for US residents.

The similar price movement could be observed in February of 2018 in anticipation of the speeches of the heads of the securities and exchange Commission (SEC) Jay Clayton and the Commission on urgent exchange trade of the USA (CFTC) and Christopher Giancarlo.

Note that the first hearing on the topic of bitcoin in the U.S. Congress passed in November 2013, however, the asset showed a growth as before the event and after it.

Godbole convinced that the cryptocurrency market is waiting for specifics on Libra. If the regulators will be able to stop the development of the project or hurt it in another way, bitcoin will react negatively, the analyst believes. Do not forget that the initiative Facebook has been criticized by the President of Donald trump, fed Chairman Jerome Powell, and a group of congressmen.

If Marcus will be able to dispel the doubts of legislators, at least partially, the pressure may be weakened.

In the context of technical analysis the watershed remains a milestone $9614 (a minimum of 2 of July). If bitcoin is to gain a foothold below it, it will signal a change of trend, has once again reiterated its position Godbole.

On the three day chart has formed a bearish divergence with the RSI, as the indicator fell below a rising trendline, only reinforcing the negative technical factors, says Godbole. In addition, on the same chart the previous candle closed below the historically strong support at 10-MA, which does not add optimism.

Data CoinDesk Markets

On the weekly chart has also formed a bearish divergence with the RSI and the price tends to be around $9097 (high may 30), concludes the analyst.

Data CoinDesk Markets

On the hourly chart, according to Godbole, bitcoin needs to overcome resistance at $10 732 to have a chance to retest $11 200 during 24 hours.

Data CoinDesk Markets

Considering the overall technical picture, which can not be called favorable, buyers need fundamental positive for the stabilization of the situation.


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Bitfinex will direct a portion of the proceeds from the margin commissions on redemption tokens LEO

Cryptocurrency exchange Bitfinex will direct at least 27% of the profits from commissions for margin trading on the redemption tokens UNUS SED LEO.

Note that on 14 July it was held the first such redemption. Exchange used 27% profit margin from commissions in the last 40 days.

Earlier Bitfinex announced that it will use for the redemption of LEO part of the profits from the platform for holding the IEO Tokinex.

Recall that Bitfinex is going to release its own token, it became known in late April.

Later, the exchange announced the launch of the burning mechanism tokens, and also introduced the «transparency initiative» for public control over the process.



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The number of active users on bitcoin exchanges has decreased dramatically

In the last 24 hours the number of active users of the cryptocurrency exchanges significantly declined. This Twitter announced Analytics service TokenAnalyst.

The main reason for the weakening of activity, according to experts of the resource, was the fall in the value of bitcoin. The largest digital currency in the past five days fell by 20%. Monday, July 15, the coin dropped to $10 200, and there is a real risk of its sagging below $10,000.

The inflow of capital into the trading platform was significantly below the amount of funds withdrawn. The biggest loss was incurred by the platform Bitstamp. In recent days, traders took to exchange $159 million, while the inflow was only $69 million.

Other crypto currency exchange, for example, Binance and Bittrex also suffer losses, and this trend may take alarming proportions.

Platforms only Poloniex and BitMEX capital inflow still exceeds outflow, but the difference is minimal.

In early July the trading volume on the platform BitMEX has reached $1 trillion. This was told by CEO exchange Arthur Hayes. Futures transactions in bitcoin amounted to 57% of the total trading volume on the platform.



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