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🗞 Daily Crypto News, October, 17th 💰

76
5 years ago
in#bitcoin

  • US Law Enforcement Traces Bitcoin Transfers to Nab ‘Largest’ Child Porn Site ;
  • Bitcoin Price Indicator Shows Bearish Mood Strongest Since February ;
  • Top Fed Official Says US Central Bank ‘Actively’ Debating Digital Dollar ;
  • Telegram Aims to Delay TON Launch Deadline Ahead of SEC Meeting ;
  • Here’s How Much Bitcoin Is Currently Locked Up in Sidechains ;
  • 🗞 Daily Crypto News, October, 17th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 US Law Enforcement Traces Bitcoin Transfers to Nab ‘Largest’ Child Porn Site

A U.S. federal grand jury indicted a South Korean citizen for operating the largest child porn site by volume, where visitors spent millions of dollars worth of bitcoin to pay for the illegal content.

Jong Woo Son, 23, the owner of the Welcome to Video (WTV) site has also been charged and convicted in South Korea and is currently in custody serving his sentence there, the Department of Justice said.

The DOJ said 337 site users, including law enforcement officers, from 22 U.S. states and 11 countries around the world were arrested.

The operation resulted in searches of residences and businesses of 92 individuals in the U.S. The investigation has also led to the rescue of at least 23 minor victims residing in the U.S., Spain and the U.K., who were actively being abused by the users of the site.

🗞 Bitcoin Price Indicator Shows Bearish Mood Strongest Since February

View

Bitcoin’s weekly Chaikin Money Flow index is reporting the strongest bearish bias since February. Other weekly chart indicators are also calling a deeper drop, possibly to levels below recent lows near $7,750.

The daily chart indicators suggest the corrective bounce has ended and sellers are again gaining strength.

The ongoing risk aversion in the global financial markets could weigh over bitcoin.

The short-term bearish case would weaken if prices rise above the 200-day average, currently located above $8,700, although, as of now, that looks unlikely.

Weekly chart

🗞 Top Fed Official Says US Central Bank ‘Actively’ Debating Digital Dollar

A top Federal Reserve official said Wednesday that the U.S. central bank is “actively looking at and debating” issuance of a digital currency, amid growing worries among current and former regulators that the dollar might be at risk of losing its status as the world’s reserve currency.

Speaking at a local business event in Austin, Texas, Federal Reserve Bank of Dallas President Rob Kaplan said:

“We have not at the Fed decided to pursue or drive to develop a digital currency, but it’s something we’re actively looking at and debating.”

🗞 Telegram Aims to Delay TON Launch Deadline Ahead of SEC Meeting

Encrypted messaging service Telegram wants to postpone the launch date of its Telegram Open Network (TON) following issues with the United States Securities and Exchange Commission (SEC).

According to an investor message seen by Cointelegraph on Oct. 16, Telegram told investors that it wants to push back the deadline to April 30, 2020.

The launch was initially set for late October, but the SEC abruptly declared its $1.7 billion dollar token offering to be illegal. Telegram raised the massive sum for its new network by selling TON’s native Gram tokens to qualified investors in two separate rounds.

🗞 Here’s How Much Bitcoin Is Currently Locked Up in Sidechains

Almost $77 million of Bitcoin (BTC) is currently unavailable to use on the network — not because it is lost, but because it is locked up in sidechains.

Bitcoin sidechains: a nascent market

Data from block explorers confirms that as of Oct. 17, a total of 9,661 BTC ($76.96 million) or a tiny 0.054% of today’s Bitcoin supply resides in three major sidechain projects.

Sidechains are separate blockchains tied to a cryptocurrency’s regular blockchain, i.e. mainchain. Users can interact with it via a pegging mechanism; they send funds to and from the sidechain, with security features ensuring coins are not available on both chains at once.

Sidechains have existed for several years and have various functions depending on developers’ aims.

🗞 Daily Crypto News, October, 17th 💰

  • Skycoin (SKY)

NYC Skywire Mainnet Meetup in NYC from 6 - 8 PM.

  • Holo (HOT)

"Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum."

  • Horizen (ZEN)

Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

  • Cardano (ADA), ICON (ICX)

We are happy to invite you to join our meetup, “Road to Decentralization - Cardano, and ICON”.

  • Pundi X (NPXS)

"[System Upgrade]On Oct 17, the dev will perform an #XWallet update from 10:00-12:00 GMT+8."

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