86% of ICO Tokens Worth Less than at First Crypto Exchange Listing

Twitter Facebook Global professional services firm Ernst & Young (EY) has released a report on the performance of ICOs over the last year, and in keeping with the bear market for cryptocurrency assets, the trend was predictably downward. Just 10 Tokens Count for 99% of All ICO Gains EY released a report on ICOs back in December 2017, which included a total of 372 projects. Within those projects were 110 standout ICOs that accounted for 87 percent of all funds raised among all projects analyzed. They dubbed this collection of more…

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Nicolas Maduro Urges Venezuelan Residents to Invest in Petro Coin

Nicolas Maduro, Venezuela’s president, called on workers in his country to save money in gold and his cryptocurrency ‘The Petro’ during a salary shake-up Thursday. According to the local news source Noticiero Digital, in the next few weeks workers will be receiving their bonuses in the Petro coin, instead of fiat. Nicolas Maduro and The Petro Maduro said: “In the coming weeks the payment schedule of the bonuses will be fulfilled with the new salary tables set in the petro, which is from the economic recovery program that started 58…

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Tether Floods Into Kraken Exchange, Where Crypto Traders Can Get Dollars

Tether (USDT) tokens are flooding into a wallet address controlled by the Kraken exchange, one of the few places where the troubled stablecoin can be converted into U.S. dollars. The exchange’s wallet balance stands at nearly 47.8 million USDT at the time of writing, making it the eighth-most valuable wallet holding this asset, according to the Tether Rich List. Contrast that to the situation less than two weeks ago, on Oct. 7, when Kraken’s tether wallet ranked much lower – 22nd place – and held less than half its current balance:…

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Ethereum Token Rallies as Brave’s Cryptocurrency Program Enters Beta

Twitter Facebook The cryptocurrency market posted a minor decline on Friday, with bitcoin and most other large-cap assets shedding about one to two percent of their previous-day valuations. Ethereum token BAT, however, managed to resist the market’s gravitational pull and post a major single-day rally. Ethereum Token BAT Hits Two-Month High BAT — short for Basic Attention Token — is the native currency of Brave, the ICO-funded web browser that seeks to use the cryptocurrency token to upend the web’s traditional advertising model. For most of the day Thursday, BAT…

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Lack of Transparency to Blame for Tether’s Loss of USD Peg: Novogratz

Twitter Facebook Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor and cryptocurrency bull Mike Novogratz says that USDT’s woes are the fault of its issuer’s lack of transparency. USDT/USD | Kraken | Source: TradingView “I think Tether didn’t do a great job in terms…

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Global AML Watchdog to Release Crypto Regulations By Next June

A global money-laundering watchdog has said it will begin publishing rules for international cryptocurrency regulation by next summer. According to a Reuters report Friday, the Financial Action Task Force (FATF) – the France-based intergovernmental body founded in 1989 to develop policies for tackling money laundering – said that global jurisdictions will have to bring into force licensing schemes or regulations for crypto exchanges and possibly digital wallet providers under the new rules. Companies offering financial services for initial coin offerings will also be included, the report states. The news comes after the FATF plenary…

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North Korean Hacking Group Lazarus Stole $571 Million in Cryptos: Report

North Korea’s infamous hacking group, dubbed Lazarus, has managed to steal over half a billion dollars in cryptocurrencies, a report indicates. According to an article published Friday by The Next Web, the coming annual report from cybersecurity vendor Group-IB sets out that Lazarus was behind 14 hacks on crypto exchanges since January 2017, reaping a massive $571 million from the attacks. The news backs up claims from officials in South Korea, who said in February that North Korean hackers likely stole tens of millions of dollars’ worth in cryptocurrencies in 2017. As reported…

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