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Kotak Mahindra Bank — India’s second largest private sector bank by market cap — is allegedly requiring account holders to refrain from dealings in cryptocurrency. The claim was made by Twitter user “Indian CryptoGirl” (@Desicryptohodlr) in a tweet posted Jan. 8.

According to the screenshot provided in Indian CryptoGirl’s tweet, Kotak Mahindra Bank makes explicit reference to the Reserve Bank of India’s (RBI) regulations in its apparent terms and conditions for account holders, which allegedly demand consent to the following:

“Basis [sic] the regulations issued by RBI, I hereby declare that I will not deal with any transactions related to cryptocurrency including bitcoins. I also understand and agree that the bank reserves all right to close my account without further intimation in case I am found to undertake such transactions.”

In April 2018, India’s central bank, the RBI prohibited all domestic banks from providing services to crypto-related businesses, but the legal status of cryptocurrencies themselves in the country remains largely undefined.

Multiple twitter users have responded to the Jan. 8 tweet by reporting further unconfirmed details of the bank’s alleged anti-crypto warnings. One user shared a screenshot of what appears to be an ATM screen belonging to an unspecified bank — but which reproduces the exact wording of  Kotak Mahindra’s warning against account closures without further intimation. The ATM warning apparently further explicitly states that:

“Virtual currencies (VCs) are not legal tender and do not have any regulatory permission or protection in India. We request you not to make transactions involving any VCs from any of your account/s [sic.]”

One indignant twitter user responded by rallying Indian citizens to make a national bank run, inspired by the recent calls to action from French grassroots political movement, the Gilets Jaunes (Yellow Vests).

To press time, Indian CryptoGirl has not responded to Cointelegraph’s request for comment.

As previously reported, the status and future of cryptocurrencies in India remains highly contentious. After RBI’s controversial prohibition came into effect last July, both public and industry-led petitions have appealed to the courts on the grounds that the decision is unconstitutional.

Earlier this month, RBI published its financial report for 2017-18, which concluded that crypto currently poses no threat to financial stability. Authorities across the country meanwhile continue to robustly warn the public against the risks associated with unregulated crypto investments, and some political voices have advocated for the criminalization of crypto in the country outright. 



Ethereum (ETH) blockchain startup and incubator ConsenSys has participated in a $2 million seed funding round for Iceland-based blockchain startup Monerium, according to a press release from the firm, published Jan. 11. The startup counts the former chairman of Iceland’s central bank among its four founders.

The funding round was reportedly led by Icelandic venture capital fund Crowberry Capital, and has also seen the participation of Icelandic private investment firm Hof Holdings.

Founded in 2016, Monerium is reportedly developing a solution for “bridging fiat money and blockchains,” issuing what it refers to as e-money.

Former central bank chairman Jon Helgi Egilsson, alongside co-founders Gísli Kristjánsson, Hjörtur Hjartarson, and Sveinn Valfells, are spearheading a workforce of 14 people across Iceland, Sweden, the United States and the United Kingdom.

Monerium is reportedly currently awaiting review of its application to become a licensed financial services company in the European Economic Area (EEA). If secured, the license will help facilitate the various functions associated with its planned blockchain-powered e-money issuance — notably asset management, compliance and risk management.

ConsenSys co-founder Andrew Keys has stated in the press release that support for Monerium aligns with the incubator’s aim to help build “the infrastructure needed for a more decentralized and self-sovereign future.”

Earlier this month, ConsenSys partnered with semiconductor producer AMD and investment management firm Halo Holdings on a project to develop a blockchain-based cloud computing infrastructure. In December, Consensys signed a Memorandum of Understanding with South Korean technological holding SK Group for an initiative to create an enterprise blockchain business model using smart contracts.



The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

When a price is forming a bottom, it is usually volatile as both the bulls and the bears are trying to gain the upper hand. In a bear market, any negative news is met with strong selling and that is what has happened over the past two days. The 51 percent attack on Ethereum Classic has spooked the sentiment and dragged the prices lower.

While the most recent fall shows that the sentiment is still fragile, a strong rebound from the current levels would indicate that there is demand on the dips, a markedly bullish sign. However, if the cryptocurrencies instead plummet to new lows, it would be a bearish sign.

CEO and co-founder of Circle, Jeremy Allaire, believes that the lack of regulatory clarity from the United States Securities and Exchange Commission (SEC) is the main hurdle facing the nascent asset class. According to him, cryptocurrencies will receive a boost when this issue is resolved.


Bitcoin has turned down from the neckline of the inverse head and shoulders pattern. If the price doesn’t stop at the current levels, it can retest the low of $3,236.09.


Both moving averages are flat and the RSI is seeing support at the trendline. If the BTC/USD pair turns around from the current levels, it will again attempt to break out of the neckline. If successful, it will complete the bullish inverse head and shoulders pattern. The traders can wait for a breakout and close above $4,255 before buying.

Another possible scenario is that of a range formation for a few days. We might suggest new positions after the support and resistance levels of the range are well defined.


Ripple triggered our stop loss at $0.32 on Jan. 10. If the price doesn’t turn around quickly from the current levels, the drop can extend to $0.27795.


After staying flat for the past few days, the moving averages have started to turn down, and the RSI has also dipped into the negative territory. This suggests that the bears have the advantage. The XRP/USD pair might drop to the bottom of the descending channel. The traders should wait for a reversal pattern to form before initiating a trade in the pair.


After failing to break out of $167.32 for the past few days, Ethereum turned down on Jan. 10. It easily sliced through the 20-day EMA and is currently trying to hold the 50-day SMA.


If the bulls defend the 50-day SMA and the ETH/USD pair turns around, it will indicate strength. On the other hand, if the bears sink the price below $116.3, it can dip to $100 and below that to $83. The flat moving averages point to a consolidation in the near term.

We suggest traders wait for a clear range to be defined or for the price to scale $167.32 before buying.


After consolidating for the past few days, Bitcoin Cash broke down of the range on Jan. 10. It can now drop to $100, which is a psychological support. If this level also breaks down, the price can plunge to $73.5.


The 20-day EMA is turning down after being flat for the past few days, which confirms that the sellers have an advantage in the short-term. The 50-day SMA is sloping down, which indicates that the long-term trend is down.

If the bulls push the BCH/USD pair back into the range, it will be the first indication of buying at the lows. We couldn’t find any reliable buy setups, so we are not proposing a trade in it.


Though EOS has declined to the bottom of the range, it is yet to break down of it. Currently, it remains range bound between $2.3093–$3.2081.


If the EOS/USD pair plunges and closes (UTC time frame) below the range, it can retest the lows. Though there is a minor support at $2.1733, we expect it to be broken.

However, if the support of the range holds, the consolidation is likely to continue. The longer the consolidation, the stronger the breakout. Therefore, we suggest traders buy on a breakout and close (UTC time frame) above $3.2081. Until then, we remain neutral on the cryptocurrency.


Stellar broke down of the symmetrical triangle on Jan. 10. It can now retest the low of $0.09285498.


The 20-day EMA is turning down after remaining flat for the past few days. This shows that the bears again have the upper hand in the short term. The 50-day SMA continues to slope down, which suggests that the long-term trend is still down.

A breakdown of the Dec.15 low will resume the downtrend. Our bearish view will be invalidated if the XLM/USD pair reverses direction and breaks out of $0.13427050.


Litecoin has dipped back below the neckline after failing to rally in the past few days. If the price sustains below the neckline for two more days, it will confirm that the recent break out of the inverse head and shoulders pattern was a fake move.


On the downside, if the $29.349 support breaks, the probability of a drop to $23.1 increases. Hence, the traders who have long positions should keep their stops at $27.5.

If the LTC/USD pair bounces off either the 20-day EMA, or the 50-day SMA, it will attempt to break out of $36.428 and rally towards $47.246. However, the flattening moving averages and the RSI near 50 levels point to a consolidation in the near term.


We had expected TRON to reach a high of $0.03801042 but it turned down from $0.03575668. Therefore, we always suggest trailing the stops higher, to lock in the profits.


The 20-day EMA is still rising, hence, it might act as a strong support. If this support breaks, it can slide to $0.0183.

If the TRX/USD pair bounces off the 20-day EMA and rises again above $0.02815521, it can rally to $0.03801042. The traders can wait to enter new positions once again.


The tight consolidation has resolved to the downside. The breakdown below $80.352 is likely to push the price to the immediate support of $65.031. If this support also breaks, a retest of the lows is probable.


Our bearish view will be invalidated if the bulls push the price back above $80.352 within the next two days. We shall turn positive after the BSV/USD pair rises above $102.58. Until then, we suggest traders remain on the sidelines.


After sustaining the breakout above the neckline of the inverse head and shoulders pattern for four days, Cardano has dipped back below it.


If the bulls fail to push the price above the neckline within the next two days, the probability of a fall to $0.036934 will increase. Therefore, the traders who had purchased on our earlier recommendation should close the position without waiting for the stops at $0.036 to be hit.

Both moving averages are flat and the RSI is also close to the neutral territory, so the probability of a consolidation in the next few days is high. If the ADA/USD pair quickly bounces off the 20-day EMA and scales the neckline once again, it can rise to $0.060105, followed by a move to $0.066.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.



Friday, Jan. 11 — after a major price rout yesterday, many cryptocurrencies are today clawing back lost ground, with most of the major coins tipping back into the green, as Coin360 data shows.

Market visualization from Coin360

Market visualization from Coin360

Top cryptocurrency Bitcoin (BTC) has stabilized around $3,700 to press time, seeing a slight 1 percent recovery over the past 24 hours. Yesterday, Jan. 10, Bitcoin fell sharply in value from ~$4,000 to ~$3,650 — an over 8 percent intraday loss.

Having reclaimed the $4,000 mark Jan. 6 — which it comfortably held for several days —  the fresh downturn has brought Bitcoin to a mild 2.4 percent loss on the week. On the month, the coin remains up by 8 percent.
Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index.

Ripple (XRP) — which yesterday dislodged Ethereum yet again as largest altcoin by market cap — has seen little price change on the day, growing 1.5 percent to trade ~$0.33 at press time. Before yesterday’s steep losses, the asset had hit an intraweek peak of ~$0.38. Ripple is now down close to 5 percent on the week, but remains up a solid 15 percent on the month.

Ripple’s 7-day price chart

Ripple’s 7-day price chart. Source: Cointelegraph’s Ripple Price Index

Ethereum (ETH) is seeing minor negative price fluctuation on the day, currently down just 0.22 percent to trade at $128. With a market cap of $13.3 billion, Ethereum has only just fallen behind Ripple, which has a market cap of nearly $13.8 billion to press time, according to CoinMarketCap data.

Yesterday’s double-digit losses have brought Ethereum to a stark 15 percent in the red on its 7-day chart. On the month, growth remains at a bullish 45 percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: Cointelegraph’s Ethereum Price Index

Among the remaining top twenty coins on CoinMarketCap, the top ten are mostly stable — seeing 24-hour price changes of within a just 2 percent range in both directions — with Bitcoin Cash (BCH) seeing the most change among the top ten, down just 1.80 percent to trade at 132.50.

Widening out to the top twenty, virtually all altcoins are seeing more substantial growth of at least 2 percent, with NEM (XEM), Ethereum Classic (ETC), Zcash (ZEC) and Binance Coin (BNB) all seeing solid growth of 4-5.5 percent on the day. Newly-forked Bitcoin SV (BSV) is meanwhile down just 1 percent on the day to press time.

Total market capitalization of all cryptocurrencies is at around $123.7 billion as of press time — up about $1 billion from where it started yesterday at $122.8 billion.
7-day chart of total market capitalization of all cryptocurrencies

7-day chart of total market capitalization of all cryptocurrencies. Source: CoinMarketCap

As reported today, Vinny Lingham — CEO of blockchain identity platform Civic — has revised his short-term Bitcoin price prediction, anticipating the coin will likely trade sideways between $3,000 and $5,000 for another month or two, before it either breaks up or further downwards.

In other major industry news, Cointelegraph reported today that Japan’s financial watchdog has granted full permission to previously hacked crypto exchange Coincheck to continue operating in the country.
Also today, Cointelegraph wrote that a report from the United States Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) includes digital assets — specified as  cryptocurrencies, coins and tokens — among the six “themes for OCIE’s 2019 Examination Priorities.”



According to Simon Morris, former chief strategy officer at BitTorrent, Tron will not be able to manage the transaction volume needed to tokenize BitTorrent. Blockchain news website BreakerMag published its interview with Morris on Jan. 11.

According to the interview, Morris noted that when he worked at BitTorrent, he and his team discovered that bringing a token and automated auctions to prioritize download queues could increase the speed of the network by up to 40 percent.

Nevertheless, Morris reportedly stated that there’s “no way” the Tron blockchain could handle the transaction volume that such a system would require. According to him, his team needed hundreds of transactions per second just to get started. He added:

“You hear all the bulls**t out there, oh, this does 10,000 transactions a second. It’s all crap. We were going to melt TRON. Literally destroy it.”

Further, BreakerMag reports that, according to Morris, there is little reason to believe the other claims about BitTorrent’s Tron-based token, BTT. As Morris allegedly described Tron:

“It’s basically a marketing machine layered on a very thin veneer of technology.”

Explaining his point of view, he reportedly told the news outlet that Justin Sun is very strong at marketing but that he “doesn’t have a technical bone in his body.” Furthermore, he added:

“But the approach that bothered me was, the very sort of Trumpian approach — if you get caught in a lie, the answer is you double down on the lie. [It was] the endless doubling down on lies that made me think it wasn’t going to be a fit.”

Morris left BitTorrent in July last year, reportedly after concluding that he would not be able to develop any trust in relationships with Tron executives. BreakerMag reports that when Morris confronted Sun about Tron’s allegedly plagiarized code and white paper, Sun replied:

“We have come to consensus that this did not happen. And we have moved on.”

Morris reportedly suspects that Tron will manage BitTorrent transactions on a central server and, as he says, pretend it is Tron-based. According to BreakerMag, Morris expects the efficiency of BitTorrent will increase as predicted, but he doesn’t expect this system to be Tron-based. Still, he reportedly noted, this centralization could make this system less reliable.

A Tron spokesperson told Cointelegraph in private comments today that «Morris appears to have little insight into BitTorrent operational plans since his departure,» adding:

«Actions and execution will prove louder than the words of a disgruntled former employee.»

As Cointelegraph recently reported, BitTorrent has launched a native token, BitTorrent (BTT), based on the TRON protocol.

News recently broke that Tron has hired a former United States Securities and Exchange Commission (SEC) supervisory attorney as its first chief compliance officer.



Cryptocurrencies are one of the United States Securities and Exchange Commission’s (SEC) top examination priorities this year, according to an official statement announced by the commission Dec. 20.

In the SEC’s Office of Compliance Inspections and Examinations (OCIE) recent report, digital assets — specified as  cryptocurrencies, coins and tokens — are included among the six “themes for OCIE’s 2019 Examination Priorities.”

The report states that the the office is planning to focus on monitoring the emerging market and enforcing compliance with existing laws:

“OCIE will continue to monitor the offer and sale, trading, and management of digital assets, and where the products are securities, examine for regulatory compliance.”

In terms of other goals of the office’s examination of crypto, the document also declares:

“In particular, through high level inquiries, OCIE will take steps to identify [cryptocurrency] market participants.”

The report states that the office will examine portfolio management of digital assets, trading, safety of client funds and assets, pricing of client portfolios, compliance and internal controls of crypto companies.

As Cointelegraph reported in December of last year, SEC Chairman Jay Clayton has said that initial coin offerings (ICOs) “can be effective” but that “securities law must be followed.” Also, according to Clayton, ICOs operate in a way that grants substantially less investor protection than that of traditional equities and fixed income markets.

In October, the SEC reportedly launched the agency’s Strategic Hub for Innovation and Financial Technology (FinHub). The hub aims to facilitate the SEC’s engagement in fintech-related fields, including distributed ledger technology and digital assets.



Mongolia’s capital city of Ulaanbaatar has partnered with a stablecoin company to release instant money transfer and lending services, Asia’s largest tech media platform e27 reported on Jan. 11.

Ulaanbaatar City’s administration has agreed to partner with a South Korean blockchain company, dubbed Terra, in order to eventually replace the current payment methods for utility bill and government subsidies with the Terra stablecoin, according to the publication.

The pilot program is scheduled to be launched within the next six months, and will start in the city of Ulaanbaatar’s Nalaikh District, with plans to expand throughout the whole city. The article also states that the program within the Mongolian capital will contain both peer-to-peer payments and mobile payments.

Terra is a stablecoin project co-founded by Daniel Shin, the creator of South Korean e-commerce marketplace Ticket Monster. The stablecoin project closed a $32 million funding round in August 2018, with participation from Binance Labs, OKEx and Huobi Capital, as well as Polychain Capital.

Back last fall, the Bank of Mongolia, the country’s central bank, had given permission to Mongolia’s largest mobile telecoms operator to issue its own digital currency, as Cointelegraph reported on Sep. 28.

Terra, the stablecoin project, had already partnered with South Korean messaging app giant KakaoTalk back in last November as well. The partnership is aimed at developing a blockchain-based payment system and creating a blockchain ecosystem that would allow a large number of people to use its services, Cointelegraph wrote on Nov. 14.



Управляющие компании компании принадлежащих семье Гуцериевых пенсионных фондов «Сафмар» и «Доверие» (сейчас находятся в процессе объединения) подали в Арбитражный суд Москвы к банку «ФК Открытие» иски на сумму 16,65 млрд рублей, говорится в сообщении НПФ «Сафмар». Иски поданы 11 января. Истцы считают, что фонд понес убытки в виде упущенной выгоды из-за неисполнения оферты по выкупу облигаций «Открытие холдинг» Бинбанком (с 1 января 2019 года объединен с «ФК Открытие»). 

Облигации «Открытие Холдинг» серий БО-03 и БО-04 пенсионный фонд приобретал по рыночной цене, близкой к номиналу, в 2015-2016 годах. Сумма приобретения составила 17,2 млрд рублей. 5 декабря 2016 года управляющие компании фондов получили от Бинбанка (также принадлежал Гуцериевым) оферты с обязательством при определенных негативных обстоятельствах приобрести у управляющих компаний облигации «Открытие Холдинг» по цене 1000 рублей + накопленный купонный доход за одну облигацию на дату предъявления оферты.

Ввод временной администрации в «ФК Открытие» (принадлежавший «Открытие холдингу») в конце августа 2017 года и стал тем условием предъявления оферты Бинбанку. Однако уже 21 сентября 2017 года временная администрация была введена в Бинбанк, из-за чего кредитная организация отказалась исполнять оферту. Это повлекло за собой убытки для управляющих компаний и пенсионных фондов в виде упущенной выгоды в размере неакцептованных оферт на сумму 17,74 млрд руб, говорится в сообщении НПФ.

«Мы полагаем, что «Бинбанк» обязан исполнять свои обязательства надлежащим образом в соответствии с условиями оферт и требованиями закона. Отказ от исполнений обязательств мы расцениваем как противоправное действие. Фонды будут защищать интересы застрахованных лиц», — говорится в пресс-релизе.

В «ФК Открытие» отказались от комментариев.

НПФ «Сафмар» показал накопленную доходность ниже ВЭБа, инфляции в средней по рынку по итогам 2013-2017 годов. Она составила 33%, когда среднее медианное значение по рынку — 42%, ВЭБ по расширенному портфелю — 43,6%, а инфляция за эти годы — 45%.

100% НПФ «Сафмар» и «Доверие» принадлежит «Сафмар финансовые инвестиции». Саиду Гуцериеву и Михаилу Гуцериеву принадлежит в ней 39,8%.



В 2019 году Apple выпустит три новых модели iPhone, сообщает The Wall Street Journal со ссылкой на источники в компании. Презентация, как всегда, состоится осенью, но разработка новых моделей уже практически завершена.

Помимо флагманской модели в двух размерах, Apple обновит модель XR — экономичный вариант 2018 года с жидкокристаллическим дисплеем. Источники WSJ утверждают, что его продажи не соответствуют ожиданиям Apple. В новых флагманских iPhone, по данным газеты, будет тройная камера, а преемник iPhone XR вместо одной основной камеры получит две, и вдобавок к этому OLED-экран вместо жидкокристаллического дисплея Liquid Retina.

Nikkei Asian Review писал, что Apple в I квартале 2019 года сократит производство моделей iPhone, представленных осенью 2018 года, на 10%. Это свидетельствует о том, что продажи действительно оказались ниже ожидаемых. При этом модельный ряд флагманских iPhone 2018 года был самым дорогим в истории компании. Это обеспечило прирост выручки.

Apple утратила свои позиции в качестве поставщика смартфонов номер два в мире: лидером продаж смартфонов долгое время остается Samsung (26% выручки рынка), а в июле 2018 года второе место заняла Honor/Huawei, обогнавшая Apple со своими 27% (Honor — 19%, Huawei — 8%) рынка.

Первого ноября 2018 года Apple опубликовала отчет по итогам четвертого квартала 2018 финансового года, завершившегося 29 сентября. В компании показатели выручки и прибыли назвали рекордными. При этом продажи iPhone принесли компании $37,2 млрд выручки (рост на 29%), хотя в штуках продажи остались на прежнем уровне: Apple продала 46,9 млн смартфонов против 46,7 млн в четвёртом квартале 2017 года. После этого, в ноябре 2018 года, — месяце, когда в магазинах появился iPhone XR, — компания Counterpoint посчитала, что по количественным показателям продажи iPhone оказались на 20% ниже, чем годом ранее. В связи с этим в декабре 2018 года Apple во второй раз со старта продаж последних моделей iPhone снизила количество заказов китайским партнерам на комплектующие.

Расширяя линейку модельного ряда и повышая цены, Apple пытается компенсировать снижение продаж, однако стоимость самой компании продолжает снижаться.

В начале января Apple впервые понизила свой прогноз по выручке с $89−93 млрд до $84 млрд. После этого стоимость акций компании упала в очередной раз. Сегодня, 11 января 2019 года, она стоит даже меньше, чем 11 января 2018 года, и оценивается в $727 млрд, хотя ее стоимость всего несколько месяцев назад доходила до $1 трлн. Теперь ее обгоняют Amazon, Microsoft и Alphabet (Google).


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