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| November 16, 2018

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Zuckerberg hurries to counter report that Facebook hired a firm to smear its critics

November 16, 2018 |

Facebook Inc. chief Mark Zuckerberg scrambled Thursday to distance himself from a report that his company had suppressed internal research on Russian misinformation campaigns and had hired a right-wing consulting firm that used propaganda tactics to deflect negative attention and discredit the…


L.A. Times – Business

U.S. Accuses Chinese Firm, Partner of Stealing Trade Secrets From Micron

November 2, 2018 |

The Justice Department unsealed charges Thursday against a Chinese state-owned firm and its Taiwan partner for allegedly stealing trade secrets from the U.S.’s largest memory-chip maker, Micron Technology.
WSJ.com: What’s News Asia

Private-equity firm is pouring money into effort to repeal California’s bail reform

October 29, 2018 |

Backed by a private-equity firm, a large bail-bond company in San Diego is financing a campaign to repeal California’s landmark criminal justice reform.

The new law would abolish the state’s bail-bond companies, and in response, a handful in the industry has raised more than $ 2.5 million to push…


L.A. Times – Business

U.S. Won’t Resume Trade Talks Without Firm Chinese Proposal

October 26, 2018 |

The U.S. is refusing to resume trade negotiations with China until Beijing comes up with a concrete proposal to address U.S. complaints about forced technology transfers and other economic issues.
WSJ.com: What’s News Asia

Paid protesters? They’re real — and a Beverly Hills firm that hires them stands accused of extortion in a lawsuit

October 21, 2018 |

Paid protesters are a real thing.

Crowds on Demand, a Beverly Hills firm that’s an outspoken player in the business of hiring protesters, boasts on its website that it provides its clients with “protests, rallies, flash-mobs, paparazzi events and other inventive PR stunts.… We provide everything…


L.A. Times – Business

Outdoor clothing firm Patagonia endorses Senate candidates — maybe a first for a company

October 20, 2018 |

In what campaign finance experts say may be a first, California outdoor clothing company Patagonia is endorsing two Senate candidates in the western United States, where protecting the public land in which its customers recreate is a key concern.

The Ventura-based retailer announced Friday that…


L.A. Times – Business

Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

October 17, 2018 |

Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

On Oct. 17, the world’s largest cryptocurrency exchange by volume, Binance, announced a partnership with blockchain surveillance company Chainalysis. According to the exchange, Chainalysis has implemented a compliance solution that meets regulatory guidelines worldwide.

Also read: Bizarro World: Federated Sidechain Technology Promoted Over Nakamoto Consensus

Binance Is Using Chainalysis for Compliance   

According to a press release published on Oct. 17, Binance and Chainalysis have joined forces to create a compliance solution for trading operations. The collaboration will further ensure that Binance exchanges comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) laws. The co-founder of Chainalysis, Jonathan Levin, explained during the announcement that all cryptocurrency businesses face the challenge of “earning the trust of regulators, financial institutions and users.”

“We expect many to follow Binance’s lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions,” Levin detailed. “Chainalysis’ compliance software, Chainalysis KYT (Know Your Transaction), is the only real-time transaction monitoring solution for cryptocurrencies.”

Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

To Some, Regulatory Compliance and Permissionless Innovation Mix Like Oil and Water

Levin says that the Chainalysis software uses methods like proprietary algorithms and pattern recognition that can raise alerts when suspicious transactions happen. Binance will be able to leverage the KYT software and other services Chainalysis offers. Wei Zhou, CFO at Binance, says the collaboration helps the exchange build a “foundational compliance program.”

“Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve,” Zhou stated.

Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

Overall, both companies believe the compliance solution will enhance the cryptocurrency environment. Moreover, Chainalysis thinks exchanges working with them will make it easier for cryptocurrency firms to open bank accounts and establish relationships with legacy financial providers. However, on forums and social media, many digital asset proponents voiced their displeasure at the announcement. Most cryptocurrency users wholeheartedly believe in privacy, and are concerned by a growing trend for blockchain surveillance.

What do you think about Binance teaming up with the blockchain surveillance firm Chainalysis? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Binance and Chainalysis


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The post Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance appeared first on Bitcoin News.

Bitcoin News

This Firm Wants Legacy Financial Players Trading Cryptocurrencies

October 17, 2018 |

This Firm Wants Legacy Financial Players Trading Cryptocurrencies

Over the last few months, there’s been a lot of talk about institutional money coming into the digital asset economy. On Tuesday, the institutional-grade cryptocurrency trading platform Caspian announced the end of its beta stage. Caspian claims 15 institutions are utilizing the trading platform and the firm expects to onboard 50 clients by the year’s end.

Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

Caspian’s Multi-Exchange Trading Platform Comes out of Beta

This Firm Wants Legacy Financial Players Trading CryptocurrenciesOn Oct. 16, Caspian has revealed the company’s flagship trading platform is out of its beta phase and over a dozen institutional investors are using the service. Caspian has been making partnerships in order to become an all-in-one platform with access to multiple exchanges. Back in May, the firm teamed up with the Seychelles-based trading platform the Bitcoin Mercantile Exchange (Bitmex), and last September the company partnered with Coinbase. According to Caspian’s creators, the company’s mission is to bring comprehensive trading tools to the “players in the legacy financial system.”

“[Institutional investors] need resources similar to those they use for managing traditional assets — systems that manage portfolios, orders and risk management,” explained Richard Mannell, director of the firm Techemy Capital. “It’s going to be fascinating to see what happens to the crypto market when institutional investors move in in the hundreds, which I think is about to happen.”

This Firm Wants Legacy Financial Players Trading Cryptocurrencies
Caspian uses an Order and Execution Management System (OEMS) which connects to all 25 exchanges, allowing a variety of management choices for cryptographic assets.

Enterprise Custody and Trading Go Hand in Hand

Caspian says it now provides over 25 exchanges via a single interface which include well-known platforms such as Binance, Poloniex, Bittrex, Bitstamp, Fisco, CME Group, Itbit and more. During the latest onboarding process, Caspian says the clientele using the system are companies such as Travis Kling’s Ikigai Asset Management, Lykke, Id Theory, and Bletchley Park.

The news follows the very large financial firm Fidelity Investments launching an institutional-grade cryptocurrency management platform. Fidelity explains the company will provide “enterprise-quality custody and trade execution services for digital assets.” Caspian’s chief operations officer, David Wills, says Fidelity’s custodial services will complement the company’s product offering.      

“At Caspian, we believe institutional investors need two things – an institutional-level custodial solution that Fidelity will bring, and secondly, intuitive and user-friendly software platforms, like Caspian for the management of these assets,” Wills noted after the announcement.

What do you think about Caspian’s institutional-grade cryptocurrency trading platform? Do you think such investors need a trading desk like Caspian’s? Let us know your thoughts on the subject in the comments section below.


Images via Shutterstock, Caspian logo, and Pixabay.


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post This Firm Wants Legacy Financial Players Trading Cryptocurrencies appeared first on Bitcoin News.

Bitcoin News

Scam Victim Loses $48,000 Claim Against Canadian Bitcoin ATM Firm

October 13, 2018 |

Scam Victim Loses $  48,000 Claim Against Canadian Bitcoin ATM Firm

A woman suing for 62,500 Canadian dollars ($ 48,125) sent to a phone scammer over a bitcoin ATM has lost her court case, local media reported. On Friday, Charlottetown Provincial Court chief judge Nancy Orr ruled that the fiat money deposited by the woman into the teller machine belonged to Instacoin ATM Canada Inc., owners of the digital cash dispensing unit.

Also read: Funny New Advert Shows Bitcoin Is on Google’s Mind

‘Unfortunate Victim of Sophisticated Fraud’

“It’s most unfortunate that she was victim of such a sophisticated fraud,” judge Orr is quoted as saying, when she handed down her decision. However, she added that “It’s up to the bitcoin purchaser to know what they’re doing.”

Scam Victim Loses $  48,000 Claim Against Canadian Bitcoin ATM Firm

The woman, unnamed for security reasons, deposited 62,500 Canadian dollars into a bitcoin automated teller machine believing she owed taxes. It was a fraud. A man claiming to represent the Canada Revenue Agency called her, threatening the new immigrant with arrest and deportation for tax default.

According to a report by CBC News, the case centered on who legally owned the money she deposited into the ATM, later seized by police in cash. In court, the woman spoke of how the scammer had her on speed dial, and of the intimate detail he held about her family. She testified that as a new immigrant, she believed the threats of arrest and deportation and that this could be avoided by sending the large sum of money demanded.

Over two days in February, the woman made a series of withdrawals from her bank, which she deposited into a bitcoin machine at a restaurant in Charlottetown, said the article. She transferred the money to a bitcoin address supplied to her by the unknown man on the phone.

“It’s really hard. I need that money back,” the woman told local media, tearfully. “I want other people to know what happened to me, so it doesn’t happen to them,” she sobbed.

Bitcoin ATM Fraud Rising in Canada

Incidences of bitcoin scams are on the rise in Canada. In November last year, police said more than 40 people had lost 300,000 Canadian dollars to phone scammers, who compel victims to make bitcoin ATM deposits on the threat of arrest for tax default.

Scam Victim Loses $  48,000 Claim Against Canadian Bitcoin ATM Firm

In Charlottetown, lawyer Michael Drake, representing Instacoin ATM Canada Inc., “argued that the company merely provided a financial service to the woman, by converting cash to bitcoin currency, and sending it to the computer address she provided,” the report said. The woman supplied the bitcoin address of an unknown telephone fraudster, in this case, it detailed.

Jonathan Coady, the woman’s legal counsel, argued that at the time of the ATM deposit, the woman acted “under duress.” The judge wouldn’t have it. “Both sides involved in this case are completely sympathetic to the woman…but Instacoin did not put her under duress,” said judge Orr, adding that while anonymity was a key feature of cryptocurrency, it was also its weakness where cases of fraud are concerned.

What do you think about the outcome of this case? Let us know in the comments section below.


Images courtesy of Shutterstock and Instacoin.


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The post Scam Victim Loses $ 48,000 Claim Against Canadian Bitcoin ATM Firm appeared first on Bitcoin News.

Bitcoin News

Intel Firm: Here’s News on the 2nd Poisoning Suspect

October 9, 2018 |

One of the two suspects in the poisoning of an ex-spy in England is a trained doctor who works for Russian military intelligence and traveled to Britain under an alias, investigative group Bellingcat reported Monday. Bellingcat says on its website that the man British authorities identified as Alexander Petrov is…
Newser