Category Archives: Crypto Currency

Cryptocurrency Watch : aelf

aelf (ELF)

Aelf is a Blockchain based company developing a decentralized ‘Cloud Operating System’ designed to become a central hub for all Blockchains. Aelf believes the current challenge preventing large scale commercial adoption of Blockchain technology is its inability to meet the requirements of various business and industrial scenarios.

Current Price: $2.01 USD
Website: http://aelf.io/
Type: Token
Market Cap: $501,890,000 USD
Circulating Supply: 250,000,000 ELF
Total Supply: 260,000,000 ELF

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Bitconnect is Facing its Second Class Action Lawsuit

Another class-action lawsuit, along with a restraining order, has been filed against UK-based Bitconnect, this one in Kentucky.

Brian Paige is suing Bitconnect for an undisclosed sum for operating an alleged online investment scam — a Ponzi scheme — in the second such lawsuit filed against the lending and exchange platform in a week. At least 100 members have joined the class action, reflecting an “amount in controversy” that surpasses $5 million.

The latest class-action lawsuit was filed in the US District Court for Kentucky, Louisville Division on Jan. 29. Paige is being represented by Jasper Ward of Jones Ward PLC in Louisville, Kentucky and Abigale Rhodes Green of an injury law firm that bears her name.

Reference: https://www.ccn.com/second-complaint-lodged-against-bitconnect/

Bitcoin Price Falls Under $10,000 After Bitfinex, Tether Subpoena

US regulators’ scrutiny into Bitfinex, one of the world’s largest cryptocurrency, over its dollar-pegged digital token Tether has sent bitcoin sinking below $10,000.

Bloomberg is reporting that the US Commodities Futures Trading Commission (CFTC) has sent subpoenas to Bitfinex and Tether, the firm behind a namesake digital token that is directly pegged to the value of a US dollar and is used for widely used for trading among exchanges globally. While Tether says its $2.3 billion in tokens are backed by USD reserves, the CFTC and Tether’s skeptics have questioned that very claim.

Reference: https://www.ccn.com/newsflash-bitcoin-price-falls-10000-bitfinex-tether-subpoena/

Facebook Bans All Cryptocurrency Ads

Facebook is firing back against misleading and deceptive ad practices, and ICOs, cryptocurrencies and binary options are at the top of their list. In a blog post by Facebooks’ Rob Leathern, the social media giant is trumpeting a new policy, banning ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices.”

Without a clear regulatory framework for ICOs, Facebook is just trying to protect its users — of which there were 2.7 billion as of Q2 2017 — and prevent bad actors from promoting their scams on the site. The policy is a broad-brush approach for the time being but seems to target sketchy ads making unrealistic claims and flying in the face of expert advice from blockchain veterans not to invest more than you can afford to lose in any digital coin.

Reference: https://www.ccn.com/facebook-takes-aim-at-icos-cryptocurrencies-in-new-ad-guidelines/