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NASA’s Opportunity, the Mars rover that was built to operate for just three months but kept going and going, was pronounced dead Wednesday, 15 years after it landed on the red planet. The six-wheeled vehicle that helped gather critical evidence that ancient Mars might have been hospitable to life was…
Fighters from the US-backed Syrian Democratic Forces (SDF) have launched an assault to oust ISIS from its last remaining enclave in Syria, the final remnant of the jihadist group’s so-called “caliphate.”
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Fidelity has published an update announcing that its highly anticipated cryptocurrency exchange and custody platform, Fidelity Digital Asset Services (FDAS), has entered its “final testing” phase. The financial services provider also stated that it is exclusively serving a “select set of eligible clients” while developing the platform.
Fidelity Highlights Institutional Focus for FDAS
The company has emphasized its institutional focus, stating that Fidelity’s “initial clients are an important part” of the “final testing and process refinement periods,” that will enable the company to “provide these services to a broader set of eligible institutions.”
Fidelity added that its discussions with “a variety of institutions” had underscored the perceived demand for “a trusted platform provider to engage with digital assets in a meaningful way.”
The company also stated that its risk and compliance teams are “actively” working with auditors to tighten policies and operational processes, adding that it hopes to “set new benchmarks for this aspect of cryptographic … finance.”
Fidelity described the development process for the platform as comprising both a “challenging and rewarding time.”
No Date for FDAS Launch Despite Rumors of March Target
While Fidelity has not revealed a firm date for the launch of FDAS, much of the cryptocurrency community is anticipating the platform may launch sometime around March.
On. Jan. 29, Bloomberg reported that the company was targeting March as a launch date for its custody service, citing “three people with knowledge of the matter.” At the end of 2018, Tom Jessop, the founding head of Fidelity Digital Assets, stated that the company was then hoping to launch FDAS during the first quarter of 2019.
Do you think that Fidelity will launch its cryptocurrency platform before or after the second quarter begins? Share your thoughts in the comments section below!
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Spain is braced for a tragedy but praying for a miracle as the operation to rescue a 2-year-old boy from a deep borehole enters a critical phase. After numerous setbacks in the desperate effort to dig a parallel shaft next to the borehole, miners are finally preparing to dig a…
You can tell an altcoin is close to death when its price soars. That may sound like a contradiction in terms, but that’s what can happen to crypto assets when they’re in the throes of death. With low liquidity and thin volume, exchange-listed altcoins are prey to manipulators who will send them skyward one final time for a quick profit.
Also read: Bitcoin History Part 7: The First Major Hack
Pump and Dumps Are the Swansong of Dying Altcoins
Holders of paragon (PRG) woke up to a pleasant surprise this morning: their coin was up 6,800% overnight. The project has effectively been dead for months, with the SEC ruling in November that Paragon must refund investors who participated in its token sale. News that the worthless token had mooned overnight was thus greeted with astonishment by PRG holders. At 7 a.m. EST on Jan. 1, paragon was trading for over $ 10, having been changing hands for just $ 0.30 the day before.
On closer inspection, however, it became clear that the Paragon project wasn’t enjoying a new lease on life. It had not been let off the hook by the SEC, nor had it announced a major partnership that had set the coin’s price rocketing. Rather, paragon had become the latest moribund coin to be subjected to a pump and dump. It had taken just $ 27,000 of trading volume on a single exchange, Yobit, to propel PRG to double-digit dollar prices, and then back down almost to where it began hours earlier.
P&Ds and 51 Percents Herald the Beginning of the End
The final indignity of dying coins, it appears, is to be fraudulently manipulated to enrich insiders one more time. As other tokens that launched during 2017’s ICO mania die off like paragon, they risk succumbing to the same fate. As for Proof of Work coins that are also in the process of dying quietly, there’s another means of manipulation – the 51 percent attack. In a blog post published on Jan. 1, prominent bitcoiner Nic Carter performed a post-mortem on 15 cryptocurrencies whose demise he’d predicted at the start of 2018.
Of the projects he successfully called out, two had their demise hastened by 51 percent attacks – Verge and Bitcoin Gold. As Carter acknowledged, it is virtually impossible for a cryptocurrency project to die out entirely, as there will always be residual trading volume and someone willing to pay a rock-bottom price in the hope that the asset will return to its former glories, just as paragon fleetingly did today. Even for those coins that are artificially coaxed back into life, however, the movement merely reaffirms that they are on the way out and destined for an entry on Deadcoins.com. Paragon is already there.
Do you think exchanges should be more proactive in delisting low-volume altcoins? Let us know in the comments section below.
OP-ed disclaimer: This is an op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. The opinion editorial is for informational purposes only.
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The post Pump and Dumps Are the Final Indignity for Dying Coins appeared first on Bitcoin News.
LeBron James and Dwyane Wade faced off on the court for the last time on Monday night … and the biggest names in Hollywood had front row seats for the epic showdown. It was a bittersweet moment for NBA fans … LBJ and Wade have had some insane…
Facebook’s audit of alleged anti-conservative bias is ongoing as tech giant won’t commit to publicly releasing final reportDecember 7, 2018 | dailybusinessnews
Facebook, which agreed in May to conduct a review over accusations of anti-conservative bias, has not committed to publicly releasing its final report on the matter.
The locomotive was painted to resemble Air Force One, but George HW Bush joked that if it had been around during his presidency, he may have preferred to ride the rails rather than take to the skies. “I might have left Air Force One behind,” Bush quipped during the 2005…
The nation’s capital embraced George HW Bush in death Monday with solemn ceremony and tributes to his service and decency, as the remains of the 41st president took their place in the Capitol rotunda for three days of mourning by the political elite and everyday citizens alike, the AP reports….
One of the nicest surprises of modern air travel is showing up to your flight to discover you have been upgraded to first class.