BAND Token is Now Available for Trading on Huobi Global

Band Protocol, the cross-chain data oracle platform, said that its token BAND has been listed on Huobi Global exchange. The company clarified in a press release on its blog that trading on BAND token will start on August 10. Huobi will support BAND/U.S. dollar, BAND/BTC and BAND/ETH trading pairs.  Regarding deposits, the company stated that they will be available from August 9 and for withdrawals, they will be available from August 10. The company noted that at present, withdrawals and deposits will be limited only to BAND-mainnet coins and that…

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Nasdaq-Listed Company Sued for Backing $2 Billion Loans With 83 Tons of Fake Gold

The Nasdaq-listed company that allegedly used 83 tons of fake gold bars as collateral to secure loans worth about $2 billion from multiple financial institutions in China is now in default and facing several class-action lawsuits. $2 Billion Fake Gold Scheme Unravels The gold industry was recently shaken when it was discovered that a U.S. publicly-traded company was allegedly using 83 tons of fake gold bars to secure loans worth $2 billion in China. Kingold Jewelry Inc. is based in Wuhan, China, but it is listed on Nasdaq in the…

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Ethereum Options Data Suggests Pro Traders Expect ETH Price to Break $400

Ethereum (ETH) options open interest increased by 5 fold over the past three months to reach $337 million.  Although this figure pales in comparison to the current $1.8 billion Bitcoin (BTC) options market, Ether options have grown to reach the same size the BTC options market was roughly 15 months ago. ETH options open interest in USD terms. Source: Skew Options are divided into two basic instruments: calls, aimed mostly for bullish strategies, and puts, used chiefly on bearish trades.  This is a simplistic view, but it provides a bird’s-eye-view…

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Hodler’s Digest, Aug. 3–9 – Cointelegraph Magazine

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. Top Stories This Week   The price of Bitcoin is facing its final resistance before $15,000 It’s been a (slightly) calmer week for Bitcoin — with the world’s biggest cryptocurrency managing to recover from the low $11,000’s in recent days. Now, the $11,600–$12,000 is a crucial level to break if BTC is to continue moving higher. According to Michaël van de Poppe, the resistance zone at $11,800–$12,000 is significant, as it’s the…

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Brian Tockey: Bitcoin, Regression Theorem, and Defining Money

It’s relatively common to see the regression theorem being mentioned in economic discussion, especially when it comes to whether or not something is money. This is surprising because the regression theorem has absolutely nothing to do with money or the definition of money. Regression theorem only involves prices and is really more a direct restatement of common sense. To understand the regression theorem, we must understand the Austrian description of the establishment of prices – where does price come from? How do we know how much to sell good X…

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Cryptocurrency Mining Profitability in 2020: Is It Possible?

Miner profitability metrics are based on a handful of factors regulating difficulty and emission, which are hard-coded into the blockchain’s attributes, making it predictable to work with. While predictability does not always immediately translate into profitability, it gives a blockchain certain parameters to rely on when predicting when mining cryptocurrency will become profitable, at which price level, and at which difficulty level during the emission cycle. Some cryptocurrencies, such as Bitcoin (BTC), go through emission cycles with events such as the halving. In Bitcoin’s case, halvings occur once every 210,000…

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A General Strategy on How to Select a Crypto Fund, Part 2

With about 800 crypto funds relying on a new asset class, which has its own properties, it is essential to assess them through an appropriate framework. We provide a basic framework of useful metrics to assess the true risk of a crypto fund as a quantitative screening tool. Short-listed funds can then be assessed in more detail through a classic due diligence process. Assessing the return/risk profile of a directional trading crypto fund Assessing the expected return of a directional fund Investors in a directional fund should first have a…

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India’s Cryptocurrency Industry Prepares For A Billion Users – Cointelegraph Magazine

Digital assets appeared to be leaving India behind. Just four years after the advent of Bitcoin, hopes of a thriving crypto-economy in one of the world’s most populated countries were fading rapidly. “Regulation comes only when people are doing certain business, and we come to understand that something wrong is happening,” said the Reserve Bank of India’s then Deputy Governor, KC Chakrabarty in 2013, warning the public against the sale and issuance of cryptocurrencies. “First of all, we don’t understand this subject.” Over the next few years, the RBI continued…

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South Korea’s Largest Bank Unveils Bitcoin Custody Services

KB Kookmin Bank (KB), the largest commercial bank in South Korea, has agreed on a deal with blockchain venture fund Hashed and crypto exchange Cumberland Korea to offer bitcoin custody services. In January, the government-owned bank filed its trademark application for digital assets custody with the Korean Intellectual Property Office. The trademark is called Kbdac. It covers more than 20 crypto-related areas. According to a statement on August 7, KB said it predicts that the crypto industry will evolve beyond virtual currencies to include other traditional assets such as real…

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Bad Crypto News of the Week

Another good week for Bitcoin last week. The dollar price rose more than 5 percent, taking it to around $11,700. That rise wasn’t smooth. A flash crash took $1,500 off the price at one point, although investors remain bullish and the VIX volatility index, which is based on the S&P 500, is “extremely bullish.” Other volatility measures, though, suggest another drop to $10,000 before a new rally, while the Winklevoss twins think that the amount of infrastructure and capital in the crypto markets will make this bull run very different…

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