Cryptos are mixed as Tron (TRX), up 42% for week, hires former SEC attorney
Jan 09, 2019
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Crypto Market Recap
- Cryptocurrency markets are broadly mixed this afternoon as Bitcoin (BTC) is slightly negative, down 0.06% in the last 24 hours to USD$4,039.39. TRON (TRX) continues to lead major coins in gains, up 9.01% in the last 24 hours to USD$0.028472. Cardano (ADA) is also posting notable gains, up 7.55% in the last 24 hours to USD$0.052279. Binance Coin (BNB) lags major coins in today’s trading, down 3.95% in the last 24 hours to USD$6.48.
Crypto Developments in Financial Services
- FactSet, a notable US-based financial research and data company, is filing a lawsuit against CG Blockchain, a company associated with professional trading service Blockchain Terminal (BCT), according to filings through the Supreme Court for the State of New York. In January 2018, FactSet and CG Blockchain began a partnership to develop an interfacing application between the two firms’ products. FactSet is claiming that CG Blockchain did not pay the minimum licensing fee agreed on when the partnership began, which called for a fee of USD$3.8mm payable in three increments. FactSet is suing for USD$2.8mm in damages plus interest and attorney fees associated with the court case.
- Hans-Ole Jochumsen, the former Vice Chairman of NASDAQ Europe, has joined the advisory board of Concordium Foundation, a Switzerland-based non-profit aiming to develop a cryptocurrency featuring a built-in compliance function, according to CoinDesk. Jochumsen’s primary responsibilities will include advising Concordium’s compliance efforts, providing tax expertise, and guiding the company’s know-your-customer practices.
Crypto Regulatory Environment
- Tron (TRX), a blockchain platform whose coin is the eighth-largest cryptocurrency by market capitalization, has hired David Labhart, a former US Securities and Exchange Commission (SEC) supervisory attorney, to serve as the company’s first Chief Compliance Officer. Labhart will also take on the role of co-general counsel at Tron. The Tron platform is aimed at hosting decentralized applications (DApps) and celebrated its one-millionth user in December.
General Crypto News
- Qtum (QTUM), a blockchain platform whose coin is the twenty-eighth-largest cryptocurrency by market capitalization, announced plans to introduce Bitcoin (BTC) atomic swaps to the infrastructure of its mainnet in an official press release. Atomic swaps are meant to enable the swap or exchange of one cryptocurrency for another without requiring a trusted third party. Qtum will implement QTUM-to-BTC atomic swaps through use of Hash Time-Locked Contracts (HTLCs), the most secure way of implementing atomic swaps, according to the company announcement.
- The US Department of Energy will allocate USD$4.8mm of federal funding to universities working on research and development projects, some of which deal with blockchain technology. As of part of the department's, "University Training and Research,” initiative, university projects will be funded to develop fossil energy applications that reduce inefficiencies, improve electrical grids, and create more affordable domestic energy resources. An official announcement from the department discusses that some funding will target blockchain technology applications that would, "secure process signal data and other information flows within distributed sensor networks for fossil-based power generation systems.”
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio