BTCMEX is back with our weekly news recap. This time about Microsoft tokens, Bitcoin 2017 price manipulations, and 33 lost Bitcoins. Stay current with us!
Microsoft opens up blockchain tokens
Microsoft Corporation has the blockchain tokens building platform in the wings! The service is a part of Microsoft Azure — the cloud computing platform. The announcement was made by the Principal Architect in Azure Blockchain, Marley Gray, during the Microsoft Ignite conference in Orlando.
The initiative strives to make digital tokens building as easy and available for businesses as plugging in a printer. “You can go and buy a printer or any type of device and just plug it in and it works. It’s the same analogy here for tokens and that is what we are building in Azure”, said Gray. The platform allows businesses to choose from a growing set of token-building templates that conform to the Token Taxonomy Initiative — a standards push and enterprise consortium spearheaded by Gray.
Azure Blockchain Tokens is not just “a Microsoft thing”. IBM Cloud, R3 and Digital Asset are contributing to the project alongside. The TTI has already gone further than any other enterprise in getting different and competing blockchain players — from IBM to R3 to Ethereum Variants — under one roof.
Tether is accused in 2017 BTC market manipulations
Researchers John M. Griffin and Amin Shams have escalated debates about the 2017 Bitcoin market manipulations. They updated their previous paper, now claiming that a single whale was responsible for the BTC price surge back then.
During the bull run in December 2017 Bitcoin’s price reached an all-time high USD 20,000. In 2018 Griffin and Shams supposed that Tether — dollar-backed stablecoin USDT — had been used to provide price support and manipulate the Bitcoin market.
The researchers followed Tether and Bitcoin transactions from March 1, 2017 to March 31, 2018, and came to the conclusion that a single entry — transacting by Tether’s sister firm, crypto exchange Bitfinex — is behind the manipulation.
Tether immediately replied to the research update denying the findings and even accusing Griffin and Shams of unethical motivations.
Crypto exchange Huobi freezes US accounts
One of the largest cryptocurrencies exchanges — Huobi — announced its exit from the US market on the official website. The company has announced that it will freeze all United States customers’ accounts on November 13.
The measures are taken to meet the US high demands in Anti-Money-Laundering and Counter-Terrorism Financing regulations. In the announcement, Huobi stated that the American regulatory environment for cryptocurrencies has forced it to prohibit US-based users from the platform.
However, Huobi Global doesn’t exit the US market completely, it encourages the customers to join a new platform — HBUS — strategically based in San Francisco. Huobi’s US sister was launched in June 2018. It runs and operates independently from the larger exchange.
CEO of Golix admitted losing password to 33 Bitcoins
Crypto enthusiasts in Africa were shocked by a statement made by the CEO of Golix — Zimbabwean cryptocurrency exchange. He admitted losing the password to the BTC wallet in 2018.
Tawanda Kembo, the founder and chief executive officer of the once flourishing Golix misplaced the password last May. The wallet contained 33 Bitcoins, which is about $300,000 today. Two separate sources who worked with Golix before confirmed the password fiasco in local media.
Back in 2018 Golix users started to withdraw their funds from the exchange because of the financial regulations at the Reserve Bank of Zimbabwe, which ordered the exchange to be shut down for violating regulations. Golix has shut down communication with its users and failed to process customer’s withdrawals due to bankruptcy.
According to Kembo, complications occurred because crypto firms were denied to access bank account in Zimbabwe. He claimed the password issue did not affect the operation of the exchange.
Zimbabwe is not the only country that restricted the use of foreign currency, setting a favorable environment for Bitcoin peer-to-peer trading. BTCMEX reporter last week, that crypto trading burst out in Argentina.
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