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CBOE has resubmitted VanEck/SolidX Bitcoin ETF

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CBOE has resubmitted VanEck/SolidX Bitcoin ETF

Last week CBOE was forced to withdraw the VanEck and SolidX Bitcoin ETF proposal due to the government shutdown that was occurring in the United States.

Political squabbles led to Congress not being able to meet the budget deadline. The shutdown lasted for weeks and showed no sign of stopping. With non-essential government employees out of work, many processes, including the in the SEC were slowed down and even halted.

With what had been called the final deadline coming up, CBOE decided to pull the proposal to avoid possible future snags.

The CEO of VanEck, Jan van Eck, explained the move on CNBC.

“The shutdown affected the U.S SEC, we were engaged in discussions with the SEC regarding Bitcoin-related issues, market manipulation, prices, custody, and that had to stop. So, rather than trying to sleep through or something, we just had to withdraw the application and we will re-file and re-engage in the discussions when the SEC gets going again.”

After weeks of uncertainty, the United States Congress finally came to a temporary agreement that ended the shutdown. However, another could potentially be brewing with the United States still in political turmoil.

With the government shutdown resolved for now, the proposal has been re-submitted according to Gabor Gurbacs, the digital assets director at Van Eck.

@gaborgurbacs tweeted,

“The VanEck SolidX Bitcoin ETF proposed rule-change has been submitted by CBOE. Hard work by all teams involved. Public document: cdn.cboe.com…

Just because the proposal has been re-submitted, there is no guarantee that it is approved. Still, there is renewed optimism that an ETF will become a reality soon.

The acceptance of the Van Eck proposal has been long anticipated, and many experts expect a flood of new money to be introduced to the space once the ETF is finally launched.

Cryptocurrency

Is Ethereum Battling For A Bullish Breakthrough?

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Is Ethereum Battling For Survival?

With the level of cryptocurrency awareness currently on the increase and a lot of new projects coming up with better positions to displace the old ones, there is a need for the second largest cryptocurrency in terms of market capitalization Ethereum (ETH) to fight for its life.

ETH is presently moving towards the $150 after weeks of leaving this price mark. It has shown that it is a force in the market by reacting positively to the positive volatility in the market. The present market is experiencing an increase in price bullishness and ETH is also among the altcoins that are gaining against Bitcoin and USD.

However, the presence of complement sites has shown that ETH is out to do all things to remain relevant. These projects are offering alternatives to what the Ethereum blockchain could attain. The Tron blockchain has now been officially listed as the number one dapp blockchain ahead of Ethereum. So, maintaining a continuous price change ahead of TRX, the Tron token could restore the confidence of Ethereum investors.

Also, the attitude of Ethereum cofounder Vitalik Buterin who does not give out free Ethereum to the public had changed after the launch of Tron Arcade that provides seed fund for developers with its investment of $100 million in the project.

The controversy surrounding the release of Ethereum Constantinople last month and how it was postponed as a result of the position of some developers that other hard forks would be launched. With the understanding of what this could cost the Ethereum network, it was postponed to avert what happened to Bitcoin Cash during its hard fork in Nov 2018 from happening to the coin.

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Factors that Promotes the Surge in Crypto Crime

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Factors that Promotes the Surge in Crypto Crime

One of the reasons why some governments and private investors fight against the adoption of crypto as a financial instrument, irrespective of its increase in adoption is because of its anonymous nature and the possible use of it in crime related activities.

This fear could be seen as real since data had shown that the rate of crypto theft had surge by more than 7 times between 2016 and 2018. However, there are factors that have encouraged it which includes:

1) Patronage of dark and deep web: most of the private data that one could never imagine could be accessed easily through the activities of sellers in the dark and deep web. This has given hackers an easy access to information that could make an operation successful.

2) The inadequate laws for crypto crime offenders: most countries do not have sufficient laws that could be used to prosecute a cryptocurrency crime offender. This has made offenders in most cases to admit the crime, since the penalties could be lower when compared to a crime committed with fiscal cash.

3) Delay in accessing the right information: the anonymous nature of cryptocurrency could make a victim, to pay hackers and remain quiet till the money had been removed from the market. The continuous possibility of creating an unlimited number of accounts with decentralized exchanges makes it hard for the offenders to be caught easily.

4) An avenue to make quick money: some of this data could be sold by an insider since research has shown that more than 15% of hacking activities are due to information that an insider sells to outside users. Cryptocurrency makes such transaction to remain anonymous and the seller could keep the money raised for some time before cashing out.

5) Rise in knowledge: some people want to test the viability of the knowledge they had acquired on real products. This quest makes it easier for people to continuously involve in crypto crimes.

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