| September 6, 2018 | Read in Browser |
 QUOTE OF THE DAY  |
| "If you are not willing to risk the usual, you will have to settle for the ordinary." - Jim Rohn |
| COIN | PRICE | 24H |
| | ||
| BTC | $6,433.017531 | -8.41% |
| | ||
| ETH | $225.618022 | -13.04% |
| | ||
| XRP | $0.286774 | -6.56% |
| | ||
| BCH | $501.140319 | -11.44% |
| | ||
| EOS | $5.058619 | -13.42% |
| | ||
*Information as of 9:30 AM EST
Big red candles and AI
Artificial Intelligence Found Unusual Market Behavior Right Before Yesterday's Drop
GOLDMAN DELAYS CRYPTO
- Just as it seemed that the bear market was behind us, with multiple consecutive days of the market being green, Bitcoin and the rest of the market went bear again on Wednesday
- The news that spurred this drop was that Goldman Sachs announced that it is delaying the opening of its long-rumored cryptocurrency trading desk
- News out of Goldman tanked the market, with most coins losing around 10% of their total value
INSIDER TRADING?
- This price movement is a little fishy, a 10,000 BTC (~$74 million) short was opened just a few days ago
- Some people are speculating that someone had inside information that Goldman was suspending its crypto trading desk and decided to profit off of the news by shorting Bitcoin before the news was released
CAUGHT BY AI
- An AI-based crypto signals platform, RoninAI, was curious about the odd price movement and looked a little deeper into the situation
- The RoninAI team found that social sentiment regarding Bitcoin moved drastically minutes before the Bitcoin price crash
- Spikes in the social sentiment chart do not represent either bullish or bearish sentiment rather unusual social activity related to Bitcoin
- Experts are in agreement that such activity seen in the graph indicates that either market manipulation or insider trading took place
IBM Launches 'World Wire' a Blockchain Payments Platform
WORLD WIRE
- IBM has launched a new blockchain payments platform dubbed 'World Wire'
- 'World Wire' is a financial solution built on the Stellar platform that will facilitate global payments and remittances
- According to IBM, World Wire integrates readily with any existing payment system and it supports payments of any size, to any destination, in any asset type within a high-security environment
IBM describes World Wire's use case:
“With IBM Blockchain World Wire, clearing and settlement with finality happens in near real-time. The solution uses digital assets to settle transactions — serving as an agreed-upon store of value exchanged between parties — as well as integrating payment instruction messages. It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”
IBM & CRYPTO
- IBM has a long history with blockchain and cryptocurrencies, developing solutions for many use cases that are available to businesses
- The computer giant has a close relationship with Stellar, in July, IBM backed a stablecoin on Stellar's platform called Stronghold
- Earlier this year, IBM teamed up with Veridium Labs to tokenize carbon credits, also using Stellar's platform
Crypto Exchange Kraken Denies Security Breach Rumor
NEW RUMORS
- Yesterday, one Reddit user posted a thread claiming that the Kraken crypto exchange has just laid off hundreds of employees in response to a security breach
Another user on Reddit added their specific story from a Kraken employee's perspective:
10 AM, mandatory meeting. Security everywhere, required to hand in door fobs. Sitting in lunchroom, get told that due to volumes being down (both trading and support ticket), and in light of the opening of a new office in Asia, we need to reduce costs, and layoff of recently hired (under 3 months, approx 57 people) was not enough."
- In addition, it is rumored Kraken employees were told to sign voluntary resignation to accept "severance pay" within 8 weeks or to risk getting laid off
KNOCKING DOWN ALLEGATIONS
- So far, Kraken has not released any official statement on the matter however its Twitter support has indicated nothing has happened
In at least two separate responses to the rumors on Twitter, Kraken customer support replied:
"We can confirm that we are not shutting down any operations in any specific place, and there has been no security breach. Everything is fine and secure."
GROWTH PLANS HALTED
- Reported in February by Business Insider, Kraken was looking to expand its total employee headcount to over 800 people in 2018
- However, with the declining market, its possible plans may now be different
- In April, it was reported that Kraken shut its doors in Japan to cut costs and free up resources
CEO Jack Dorsey Tells Congress Twitter is Exploring Blockchain Solutions
SEEKING BLOCKCHAIN SOLUTIONS
- Yesterday, at a Congressional committee focused on user privacy protections, misinformation, content moderation, and more issues at Twitter, CEO Jack Dorsey stated Twitter is seeking blockchain solutions for its problems
When asked to speak about using blockchain technology to verify identity to stop cryptocurrency scams, Dorsey responded:
"First and foremost we need to start with the problems that we're trying to solve and the problems we're solving for our customers and look at all available technology in order to understand if it could help us accelerate or make those outcomes much better. Blockchain is one that I think has a lot of untapped potential, specifically around distributed trust and distributed enforcement potentially."
NO APPLICATION YET
- Quickly after his first response, Dorsey commented that though Twitter has people researching blockchain applications, Twitter has not "gone as deep" as they would like
- However, it has to be something on the top of their agenda as thousands of people have lost millions to cryptocurrency scam bots in the last year
- If anything, we do know that Jack Dorsey is a well-known blockchain and crypto supporter from both his comments and his operations at Bitcoin payment service Square
- Convicts on parole in the southern Chinese city of Zhongshan can now find themselves being tracked over a blockchain network.
- Brian Kelly tells CNBC ICOs are here to stay but “the days of a whitepaper and a dream and $30 million are probably over."
- Cryptocurrency exchange Coinbase has announced it will begin rolling out new order book trading pairs for British pounds.
Today in Crypto is powered by coinmarketcal.com
Signature
noun
A cryptographic signature is a mathematical mechanism that allows someone to prove ownership.
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