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EtherDelta Exchange Founder Charged With Operating An Unregistered Exchange

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Today on our DC Forecasts crypto news site we share with you the latest breaking news coming from the US Securities and Exchange Commission for charging the EtherDelta decentralized exchange founder with operating an unregistered exchange.

As a decentralized Ethereum exchange, the platform let users trade Ethereum-based tokens easily without having to register or to create an account or even moving their funds and trusting an exchange-controlled wallet. The trading was supervised and managed by a smart contract and the entire exchange infrastructure was maintained by an operator.

According to the US Securities and Exchange Commission, the Ethereum-based exchange, EtherDelta, illegally allowed all the users to trade tokens that are considered securities under federal law. This action makes the EtherDelta an unregistered securities exchange.

 “We are witnessing a time of significant innovation in the securities markets with the use and application of distributed ledger technology. “But to protect investors, this innovation necessitates the SEC’s thoughtful oversight of digital markets and enforcement of existing laws,’’ an SEC official explained.

EtherDelta’s founder, Zachary Coburn, calmly consented to the charges and agreed to pay a fine of $300,000 in disgorgement plus the additional $13,000 in prejudgment interest and last, $75,000 for a penalty fine. However, the exchange founder hasn’t really denied nor admitted the allegations, just agreed to pay the fines.

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CCN Shutdown Due To Google’s Update: How DC Forecasts Remains Stronger

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CCN Shutdown
The CCN shutdown due to the new Google updates and its search visibility took the world by storm and was featured in the latest altcoin news. As one of the best media outlets in the area of crypto and blockchain, CCN was dominant and posted reports of great quality. However, it seems like the website was affected after an update from Google, causing CCN's advertising revenue to collapse by 90% due to the lower visibility of its articles on Google. According to the official CCN announcement, the SEO analyzer Sistrix shows that the website's Google visibility following the new changes dropped from 1.2 to less than 0.6. This was reported by many best cryptocurrency news sites as the real cause for the CCN shutdown. The crypto media, after all, relied on this income and the money was directly funneled back into the financing of the operation. This is also a growing problem that many cryptocurrency news sites have. Media projects that are financed by advertising tend to create problems for more than a decade. Google AdSsense is by far the most important source of advertising revenue for most of these projects. The good news in this entire story is that as a media outlet and a source for the best Bitcoin and latest cryptocurrency news out there, our website DC Forecasts remains stable. In fact, our visibility on Google is always increasing thanks to our regular updates and most importantly - thanks to our team of SEO experts that is actively following every update released by Google. Furthermore, our website is not financed by advertising and is therefore less dependent on Google. We have our own investors and a community of people who should not depend on clicks in order to improve the quality of our content or expect more. As such, we are continuously innovating the crypto currency news space - being less focused on the broad masses and more focused on readers who want to learn the latest news in every segment related to cryptocurrency, fintech, blockchain and Bitcoin. In the end, we sincerely regret the news of the CCN shutdown. The community will definitely not be the same again and we will all lose a quality medium. Founded in 2013 (as CryptoCoinsNews) it was one of the first websites reporting on the latest crypto news, coming altcoin news and more - having the highest amount of traffic worldwide.
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Altcoin News

Ripple And MoneyGram Join Forces: $50M Investment On The Way

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The latest cryptocurrency news show a new partnership on the horizon - between Ripple and MoneyGram - which seems to be a strategic collaboration that makes the most of blockchain based payments. The two firms have agreed to become partners in the cross-border payments and foreign exchange settlements with digital assets. As the official announcement shows, MoneyGram will be able to get up to $50 million dollars from Ripple in exchange for equity in the firm. Both Ripple and MoneyGram have agreed to use each other's products. The press release shared by many best cryptocurrency news sites shows that MoneyGram will use Ripple's xRapid liquidity product which allows money to be sent in one currency and instantly settled in the destination currency. Using the XRP token for such transfers, xRapid is a technology that can settle such transactions faster and better than with standard fiat currencies or other cryptocurrencies. As the CEO of MoneyGram Alex Holmes noted when announcing the Ripple and MoneyGram partnership:
“Through Ripple’s xRapid product, we will have the ability to instantly settle funds from U.S. dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”
As the website shows, MoneyGram is the second largest payments firm in the world. The coming altcoin news and its partnership with Ripple will also help the blockchain firm to gain presence in more than 200 countries (where MoneyGram actively operates). Much of the company's business lies in the remittances market, which value is estimated at around $600 billion. The CEO of Ripple, Brad Garlinghouse, also shared his excitement about the new Ripple and MoneyGram partnership, stating:
“This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies."
Payment processing and sending money globally through the blockchain are definitely something that can be improved with this new partnership. By joining Ripple's growing and global network, financial institutions can process their customers' payments anywhere in the world instantly, reliably as well as cost-effectively.
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Blockchain News

Europol Aims To Improve Blockchain And Crypto Knowledge

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Europol gathered a group of more than 300 private and public law enforcement officials and experts in order to better understand blockchain and crypto technology and in the latest cryptocurrency news we read more about the plan. According to a press release the blockchain and crypto technology has indeed presented many opportunities to criminals especially in the online sector. As a result, the law enforcement sector needs to catch up with the technology and innovations of online criminals. They learned the ways of how blockchain works and aim to increase the growth of cottage industry of companies that see blockchain data and get useful information such as finding the missing funds. Elementus is one of these companies which works with private-sector operations and often tries to locate the thefts and where the funds go missing from decentralized exchanges. Gathering evidence is a key activity for these agencies which requires a traditional method of police work which many studies show became unattractive. The officials who gathered along with Europol talked about many computer security topics and crypto and blockchain were just a part of it. Among the explored issues, DOS attacks and phishing scams were discussed. The officials went over the use of multiple crypto exchanges and wallets including LocalBitcoins which removed online trading a while ago. The move boosted the alternative platform of Roger Ver local.bitcoin.com which still enables people to meet in person and to buy and sell cryptocurrency. LocalBitcoins’ in person trading was one of the main sources of crypto busts over the years. What is very important is that there is still no discussion about banning crypto as the only way to deal with it. Law enforcement understands the best how futile the nature of banning cryptocurrency is compared to the drug war. The officials discussed how the blockchain technology can be used in the world:
 “Participants reflected on the legitimate use of blockchain technologies, including the use of cryptocurrencies for trading and investment activities, payment method and as a store of value.”
As noted in the coming altcoin news, blockchain technology spiked the interest in business leaders and governments around the world. There will be a part of every business in the future consisted of blockchain since already some major companies such as Amazon, Google and Microsoft are all into the technology.
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Blockchain News

Bitmain Sues Three Former Employees Who Founded Rival Mining Pool

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Bitmain sues three ex-employees who founded the rival mining pool Pooling and now the company demands $4 million in damages. The latest cryptocurrency news will talk some more about their history. Bitmain alleged that Poolin’s co-founders violated their non-compete agreements and founded the rival mining pool but according to the former employees, Bitmain failed to pay them as agreed. The crypto mining giant is now in a legal battle with the seventh-largest pool in the world. The three Poolin co-founders say that they are no longer bound to the agreement since Bitmain was the one that first broke it by not paying their compensation on time. Bitmain makes most of the money from selling mining equipment according to the reports but it also operates mining pools which offered the miners the ability to split rewards. The service accounted for $43.2 million of the company’s revenues in the Q1 of 2018 compared to the $2.7 billion of the hardware sale in the same timeframe. The three co-founders filed lawsuits against Bitmain and so now the mining giant Bitmain sues in return claiming that they caused major losses to the company by going to a competing pool. Bitmain asked the court to keep the non-compete agreement in action and not to set free the three Poolin executives. The dispute went unnoticed in the public but there was video footage recently where you can hear the two sides making their respective cases. The Poolin executives left Bitmain somewhere in the middle of 2017 since Bitmain wouldn’t pay them. Under the non-compete agreement, Bitmain should have paid monthly compensation to one of the founders of about $2,780 and in return, he shouldn’t have had operated another mining pool.  After their departure, Pan, Zhu, and Li launched Poolin as a mining pool for multiple cryptocurrencies in 2017 in November and in July 2018 they mined the first bitcoin block. As reported in the coming altcoin news, Poolin became one of the largest bitcoin mining pools since it has the third biggest operation by the hash rate in the world right after BTC.com and AntPool. Miners that are connected to Poolin managed to mine about 26,825 bitcoins.
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