Squire Announces Samsung Electronics as Foundry Partner to Manufacture ASIC Chips 1215

The company Squire Mining Ltd., has announced the business partnered with two leading firms from Southeast Asia, Gaonchips and Samsung Electronics:

Squire Mining Ltd. (CSE: SQR; OTCQB: SQRMF) is very pleased to announce Gaonchips as our design house and Samsung Electronics as our chosen foundry partner to manufacture our ASIC chips in Korea.

On August 1, 2018, we announced that Squire had engaged an undisclosed arm’s length design fabrication firm to perform the back-end design, testing and initial mass production run of our next generation ASIC chip for mining Bitcoin Cash, Bitcoin, and other associated cryptocurrencies. We are delighted that we are now able to disclose Gaonchips as our design house and Samsung Electronics as our foundry partner.

Our front-end development team of engineers and programmers is currently working with Gaonchips to develop the Company’s initial ASIC chip to mine Bitcoin Cash, Bitcoin, and other associated cryptocurrencies using a wafer process technology that, once confirmed and accepted as meeting certain prescribed specifications and criteria, will form the basis of an initial mass production test run of the ASIC chip by Samsung Electronics.

In addition, once a working FPGA prototype of our initial ASIC chip is developed, we will be able to aggressively accelerate the design and development of our initial mining rig for Bitcoin Cash, Bitcoin, and associated cryptocurrencies.

We anticipate completing a FPGA prototype of our initial ASIC chip by September 30, 2018. The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this news release.

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New Ukrainian Law Says ‘Virtual Assets’ Can Be Used for Payments 58696

The draft law on the prevention of the legalization of proceeds from crime and the financing of terrorism and weapons of mass destruction proliferation was supported by a significant majority in the Rada. The bill was amended to incorporate “virtual assets” which have been described as property and as a digital expression of value that can be traded or transferred and used for payment or investment purposes.

Ukraine’s anti-money laundering (AML) legislation introduces the standards for virtual assets adopted this year by the Financial Action Task Force (FATF). The members of the inter-governmental organization recently agreed to monitor and assess the implementation of the crypto requirements in different countries, as news.Bitcoin.com reported in October.

The law also introduces the term “provider of services related to the transfer, exchange and storage of virtual assets,” the crypto information outlet Forklog reveals in an article. An interesting detail is that not only corporate entities but private individuals as well will be allowed to offer such services under the new regulations.

All crypto operations will be subject to different levels of financial monitoring depending on the amount and destination of each transaction. The Ministry of Digital Transformation, which has been quite active this year, will be tasked to regulate the circulation of virtual assets in Ukraine. It will also conduct oversight to verify compliance with AML regulations in the crypto sphere.

Altcoins: LTC, EOS, XLM, Atom and XTZ 52363

XTZ/USD

Tezos (XTZ) has been the best performer of the past seven days, rising about 43% during the period. It received a boost on the news of its listing on the crypto exchange OKEx.

Another positive news was that Coinbase introduced staking rewards for all Tezos holders, enabling them to earn about 5% annually. After the recent rally, is it a good time to book profits or can the move up extend further?

XTZ/USDT weekly chart. Source: Tradingview

The bulls have held the support at $0.829651 for the past few months. This indicates that buyers have been eyeing dips down to this support level to accumulate. The XTZ/USD pair has surged this week and has risen above both moving averages. It can now move up to $1.85. The pair has been pushed back down from this resistance on two previous occasions, hence, a breakout would be a significant event.

On a close above $1.85, a rally to $2.87 and above it to $3.37 is likely. Therefore, traders can buy on dips close to $1.1 levels. Our bullish view will be invalidated if the price turns down and slips below the recent low of $0.75.

ATOM/USD

Cosmos (ATOM) has been gradually moving higher for the past few days. It has risen by about 24% in the past seven days and is the second-best performer. Can it continue its up move or has it run its course? Let’s analyze its chart.

ATOM/USD weekly chart. Source: Tradingview

The ATOM/USD pair has found support close to $2 levels thrice in the past few months. This shows that bulls have been buying on dips to the support levels. With the rally this week, the price has scaled above the overhead resistance at $3.6043, thus completing a triple bottom formation.

It now has a minimum target objective of $5.2985. If the bulls push the price above this level, a rise to $7 is possible. Therefore, traders can buy on a close (UTC time) above $3.6043 and keep a stop loss of $2.90. Contrary to our assumption, if the price turns around from the current levels and plummets below $3.6043, it will suggest a lack of demand at higher levels.

XLM/USD

Stellar (XLM) surged on the news that the Stellar Development Foundation (SDF) had burned over 55 billion of the 85 billion tokens that were set aside for SDF operations, giveaway programs and partnership programs.

The foundation said that the burning was done because it wanted to be leaner and more efficient. After its 12% rally, can it rise further in the next few days or will the price dip due to profit booking? Let’s study the chart.

XLM/USDT weekly chart. Source: Tradingview

The XLM/USD pair is facing selling at the overhead resistance of $0.088708. With the rally this week, the price has risen above the previous low of $0.072545. This shows that the markets have rejected the lower levels. Both moving averages are flattening out and the RSI has risen to just below 50 levels, which shows that the sellers are losing their grip.

If the bulls can defend the support at $0.072545 during the next dip, it will be a positive sign. On the upside, the pair will pick up momentum on a breakout of $0.088708 and the 50-week SMA. Above the 50-day SMA, a rally to $0.145 will be on the cards.

Therefore, traders can initiate long positions on a close (UTC time) above the 50-week SMA and keep a stop loss of $0.067. Our bullish view will be negated if the price turns down from $0.088708 and sustains below $0.072545.

LTC/USD

Litecoin (LTC) has been attempting to form a bottom in the past few days. It extended its up move with an 8% rally in the past seven days. What are the critical levels to watch out for and when does it start a new uptrend?

LTC/USDT weekly chart. Source: Tradingview

The LTC/USD pair has broken out of the downtrend line and is attempting a recovery. If it sustains above $62.0764, it will suggest that the lower levels are attracting buyers. There is a minor resistance at the moving averages above which a move to $80.2731 will be on the cards. The flattening moving averages and the RSI moving up slowly suggests that the bulls are making a comeback.

Though positive, we do not find a reliable buy setup at the current levels, hence, we are not recommending to trade it. Our bullish view will be invalidated if the pair turns down and plunges below the recent lows of $47.1851.

EOS/USD

EOS rounded up the top five crypto performers of the past seven days with a rally of about 8%. There have been complaints of congestion in the network but it has not affected its price. Has it bottomed out? Let’s find out.

EOS/USD weekly chart. Source: Tradingview

The EOS/USD pair has risen close to the moving averages, which are likely to act as minor resistance. If the bulls can push the price above this resistance, a move to $4.8719 is likely. The flattening moving averages and RSI just below the center indicate that the selling pressure has reduced.

Contrary to our assumption, if the pair turns down from the moving averages and plummets below the recent lows of $2.4001, it can retest the yearly low. However, we give it a low probability of occurring. We do not find a trade setup that offers a good risk to reward ratio at the current levels, hence, we are not recommending taking a long position in it.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. 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.

OKEx Announces Listing of Tezos (XTZ) 54378

OKEx, the world’s largest futures cryptocurrency exchange, today announced it will list Tezos (XTZ), an open-source platform for assets and applications backed by a global community of validators, researchers, and builders. According to Cryptocompare, Tezos is the 21st most popular cryptocurrency with a market cap of over $695 million USD and a 24-hour trade volume of over $206k USD.

The depositing of XTZ will be available from 09:00 November 6, 2019 (UTC). XTZ spot trading against USDT and BTC will open at 09:00 November 7, 2019 (UTC). XTZ withdrawal will open from 09:00 November 8, 2019 (UTC).

“Tezos is a highly respected project with a robust community, and we’re happy to be able to add the value of the XTZ network to the OKEx ecosystem, where we strive to deliver a one-stop-shop for professional and retail traders,” said Andy Cheung, Head of Operations of OKEx.

Created by former Morgan Stanley analyst Arthur Breitman and Kathleen Breitman, Tezos is a multi-purpose platform for decentralized applications and smart contracts. Stakeholders govern upgrades to the core protocol, including upgrades to the amendment process itself without having to fork the network into two different blockchains. The project aims to promote long-term upgradability and open participation to support mainstream adoption of blockchain technology.

“We are looking forward to a thriving relationship with OKEx, a global leader in the blockchain space, in furthering the Tezos ecosystem together in Asia and throughout the world,” said Corey Soreff, Board of Directors of Tezos Commons Foundation.

OKEx’s listing review process sets a high standard in many aspects, including important pillars ranging from project quality (i.e. (legal) qualifications, business model and structure, promotion etc.) to project community (i.e. ecosystem-wise capacity and promotion opportunity). By taking every possible measure, OKEx strives to ensure every listed project delivers practical use cases and brings in market liquidity.

The addition of Tezos accompanies the November launch of OKEx’s USDT Futures Trading, a linear futures contract. With USDT Futures, OKEx traders can long a position to profit from the increase of a cryptocurrency’s price, or short a position to profit from the decline of a cryptocurrency’s price. USDT pairs on OKEx include BTC, ETH, BCH, EOS, XRP, BSV, and TRX with a leverage level of 1-100x, both in fixed and cross-margin mode.

Former CFTC chair and ‘Crypto Dad’ says 2019 is the year to get serious about crypto policy 52740

Former CFTC Chairman Christopher “Crypto Dad” Giancarlo left his role at the regulator this summer, but now he’s stepping even further into the crypto world. Now as a board member for the Chamber of Digital Commerce, Giancarlo is using his expertise to further policy talks across the board, not just on a CFTC/SEC level. Giancarlo sat down with The Block to talk transitions in the regulatory space, as well as his own transition in the industry.

The Block: At the time of your departure from the CFTC how do you feel attitudes toward crypto have shifted from the time you took the position as chairman?

Giancarlo: I think quite dramatically, one of my perspectives on the CFTC at the time I took the helm, it was inordinately backward-looking, perhaps justifiably, but inordinately. So much of its energy and attention was on completing Dodd-Frank reforms to derivative markets. And in Dodd-Frank, there’s no mention about anything technological including crypto assets or blockchain, and the agency’s attention was primarily drawn to that. To its credit, the agency had developed an informal working group under Jeff Bandman that was looking at emerging crypto assets, primarily bitcoin. It was that effort that I accelerated with the formation of Lab CFTC.

The Block: How are you looking at the EOS and Sia settlements with the SEC? Can you provide any insight into what might have gone on there?

Giancarlo: One of the things I want to avoid doing is commenting on activities by the agency. I’m not the type, and don’t want to be seen as the type of former chairman who is looking over the shoulder of the incoming team and commenting on them. What I would say is that it generally shows a continuing focus and attention in this space by the agencies.

The Block: How have you seen the attitudes of regulatory bodies shift in recent years? What is the current attitude characterized by?

Giancarlo: 2017 I think was the year that regulators really woke up to the accelerating pace of crypto assets because of the bitcoin bubble. I would say 2019 is the year in which there’s a growing recognition that regulators and policy makers need to do more than just be aware of these, but may actually need to look at some policy responses. And I think the thing driving that in 2019 is a combination of Libra and the prospects for central bank digital currencies.

The Block: Looking at recent developments, we saw Regulation A+ emerge as a possibly compliant way forward for some companies. What is your take on that innovation, and what other innovations can we perhaps expect to see?

Giancarlo: I think that it shows that the SEC under Jay Clayton is moving beyond just getting smarter and more aware, but actually thinking about some of the policy responses.

The Block: I understand you’ve said you’re not interested in looking over new leadership’s shoulder, but members of the SEC have said they feel federal securities laws adequately tackle digital assets because they are technology agnostic. Do you see the legislation as operating fully for the digital assets space?

Giancarlo: I would go further afield than just SEC/CFTC specific. I do think the time has come for thoughtful consideration of a digital dollar. I think that the dollar’s status as the world’s primary reserve currency should be enhanced with a digital component and done in a way that doesn’t have to disintermediate the traditional banking system but can be done so traditional finance financial intermediaries can play a role in a digital component to the dollar. I don’t see the Federal Reserve becoming a deposit-taking institution, but where banks would continue to do that, but would use a uniform set of technology protocols in order to provide access to a digital dollar format.

The Block: Looking into some of your ventures now, I understand you’ve joined the Chamber of Digital Commerce.

Giancarlo: Yes. I’ve been very impressed with their work over the past several years in serving as a sort of a go-between. There’s this FinTech phase of innovation and policymakers helping to both translate the technology into concepts and things that policymakers can understand and interact with and giving policy makers a similar ability to interact with the innovators. And so I think with the chamber, almost uniquely, I think provides a very good interface between the world of Washington and the world of financial innovation.

The Block: I remember I read somewhere when you joined that you were looking to streamline and modernize the regulatory landscape. Which areas are you specifically immediately looking to streamline and modernize in your role on the board?

Giancarlo: As a former chairman, I will leave the new leadership to focus on CFTC-related matters, and I have every confidence in the leadership of the SEC to do that. But there’s a need for policy makers and innovators to come together to lay down a policy framework upon which these innovations can move forward with greater regulatory and legal certainty. A good example, although not a perfect analogy, is the period during the Clinton Administration when a Republican Congress and the Democratic administration came together to develop the foundation for the first phase of the internet revolution, the digitalization of information.

It’s a do-no-harm approach that allowed for very rapid innovation and global leadership. The reason why it’s not a perfect precedent is because digitization of information is a process that certainly falls into a regulatory light zone because of the First Amendment restrictions on regulation of speech. When it comes to financial areas, that’s always been a regulatory heavy zone. Some of the same precedents don’t apply, but what I think should apply is that same commonality of purpose between policy makers and innovators to want to create a regulatory and policy foundation upon which innovation can proceed in a way that is, intelligent, that’s thoughtful, aware of policy concerns, whether it be about privacy, whether it be about appropriate anonymity, whether it’d be about regulatory transparency,or for oversight where we can make sure that the right policy imperatives are brought to bear and yet a framework that can bring certainty to innovators so that they can move forward with innovation, and knowing the consequences of decisions they make.

So what I hope to do in my post-CFTC life is be an advocate for sound policy development. Not CFTC or SEC specific, but across the board where I can use skills I have as a communicator and an advocate for innovation in a well-regulated environment, and with relationships I build, hopefully help communicate that message for the need for sound policy here in the U.S. So that once again the U.S. can emerge as a leader in this new phase of the digitization of our modern world, digitization of finance in this case.

The Block: You’ve been affectionately dubbed “Crypto Dad” by the industry. How do you feel that title came about and where did this generosity towards digital assets stem from, especially in a regulatory environment some consider hostile towards the digital asset world?

Giancarlo: So the title came about out of that February, 2018 hearing that chair Clayton and I did before the Senate Banking Committee. We had been asked to testify on Bitcoin and crypto assets. We’d prepared a lengthy written testimony to Congress, and the night before, I was preparing my oral remarks and I looked at this 60-plus page, 100-footnote document and said, you know, I cannot summarize that in five minutes. I went in the next morning and when I was asked to speak in my opening address, I actually put the paper down and said, look, you’ve got my written submission. What I want to do is speak to you for a moment not as a chairman of a regulatory agency, but as a father, as a dad. I explained that I had just come back from our annual family ski trip with my children and my nieces and nephews and at the dinner table every night all they wanted to talk about was Bitcoin.

My children grew up in a financial family. I’ve worked on Wall Street for my career and I’ve tried to interest my kids in the stock market since they were young, and they had no interest in it and suddenly they’re very, very interested in Bitcoin. And some of my nieces, in fact, one of my nieces was a bitcoin holder. I said to Congress, I noticed some of your heads are nodding, some of you probably have the same conversations. I said, it strikes me that we owe it to this generation to treat their interest in this new asset class not with derision and disdain, but with respect. If nothing else, we owe it to them to get the policy right so that they’re not prey to fraud and misappropriation, but more that they can build a framework upon which they can build this new structure.

And it was from that my Twitter account exploded and I was dubbed Crypto Dad. It’s something that was unexpected, delightful at the same time, but more importantly, I think it showed that I stumbled onto something. We have a generation that came of age in a financial crisis when all of the traditional institutions that were supposed to provide stability and certainty seem to have fumbled, and in some cases failed. I think there is a generational interest here that is not going away, is not worthy of being dismissed, but should be taken seriously. I take it seriously, and I must say that, in the early days of the internet, and I’m old enough to have been around them, the same people dismissing crypto assets now were dismissing the internet as good-for-nothing other than access to pornography. It was dismissed as a fad that would fade. Well in fact you can’t even hail a taxi today without using an internet app. Our whole world has been dramatically changed in many cases for the better by the internet. What I called it, the digitalization of information, well now we’re on the digitalization of assets, the digital tokenization of a value, and it’s as fundamental a change as the early internet was.

I think for the adults in the room the choice is to put down solid policy frameworks upon which this new phase of digitalization can be built or to do nothing and see jurisdictions that put down solid policy foundations become the leaders in innovation. I don’t want to see the U.S. left behind. I want to see the U.S. do what it’s traditionally done in the face of technological revolution. And that is take a leadership role. I think that’s achievable if we put down the right policy prescriptions, and that’s why I’m pleased to join the Chamber of Digital Commerce, because it advocates for solid policy foundations and does a great job of putting the right experts forward and engaging the right communications with policy makers to maximize the opportunities. So if Crypto Dad can answer that effort, then I’m delighted to do so.

Source: Theblockcrypto.com

Altcoins: XRP, LINK, LEO, MIOTA and XTZ 45636

Altcoins

LEO/USD

The best performer of the past seven days is UNUS SED LEO (LEO), which has declined by about 3% during the period. Cryptocurrency exchange Bitfinex has said that owners of LEO will benefit by access to higher allocations during its initial exchange offering compared to others who participate with other cryptocurrencies. Can LEO continue to outperform in the next few weeks? Let’s analyze its chart.

LEO/USD

The LEO/USD pair has been under pressure since topping out at the end of June this year. It has consistently made a lower high and a lower low, which shows that traders are selling on minor rallies. The bulls have been attempting to stall the decline close to $1.0464 for the past three weeks. If successful, the pair might attempt a pullback that will face resistance at $1.36.

On the other hand, if the support zone at $1.0464–$1.0075 breaks down, it can drop to the next support at $0.80. The bulls are unlikely to buy aggressively if the price slips to new lows and the traders who own positions will bail out of their positions. We will wait for the trend to turn around before suggesting a trade in it.

LINK/USD

Chainlink (Link) can now be used to pull reliable data about the various pairs traded on Binance. This can come in handy for various innovative decentralized finance applications. The listing on Kraken also helped put a floor beneath the prices. Can it stage a recovery from current levels? Let’s analyze its chart.

LINK/USD

The Link/USD pair has been consolidating between the psychological support of $1.50 and the previous support turned resistance of $2.0531 for the past four weeks. The 20-week EMA has flattened out and the RSI is also close to the midpoint, which suggests a balance between buyers and sellers.

If the bulls can push the price above the overhead resistance of $2.0531, it will indicate buying at lower levels. The next level to watch on the upside is $2.8498, above which the momentum is likely to pick up. Conversely, if the bears succeed in breaking below the support of $1.50, a drop to $1.3139, which is the 78.6% Fibonacci retracement of the entire rally is probable.

However, we like the way the cryptocurrency has held its support in this pullback. Therefore, traders can initiate long positions on a close (UTC time) above $2.0531 with a stop loss of $1.40.

IOTA/USD

The Iota Foundation has teamed up with the Linux Foundation. Together they will work to advance the development of an interoperable solution set for IoT, Edge and Cloud integration. In another partnership, the foundation joined hands with the European Institute for Technology (EIT) and EIT Climate KIC, to connect and scale sustainable solutions across the continent. With fundamental news backing Iota (MIOTA), can it rally from the current levels? Let’s study its chart.

IOTA/USD

The bounce from the $0.244553–$0.207622 support zone fizzled out at the 20-week EMA.  Both moving averages continue to slope down marginally and the RSI is in negative territory, which shows that bears have the upper hand.

If the price slides below the support zone, it will be a huge negative because the next support on the downside is way lower at $0.104073. However, as the bulls have been defending the support zone for the past six weeks, the possibility of a breakdown is low.

Conversely, if the bulls defend the zone once again and the IOTA/USD pair climbs above the 50-day SMA, it will signal demand at lower levels. On crossing above $0.385033, a move to $0.541 is possible. There are two ways to trade this. Either buy on a rebound off the support zone, which gives a close stop loss, or wait for the price to rise above $0.335, which shows that the bulls are back in action.

XRP/USD

Ripple, the company behind XRP has acquired Logos Network, a startup that focuses on speed and scalability. The Logos team will join Xpring to develop decentralized financial products. XRP has been a huge underperformer in the past few weeks. Can it stage a turnaround or will it continue to correct? Let’s analyze its chart.

XRP/USD

The pullback in the XRP/USD pair reversed direction from just below the overhead resistance of $0.34229. This shows selling by the bears on minor rallies to strong resistance levels. The bears are currently attempting to sink the pair to new 52-week lows.

If the pair dips and sustains below $0.22, it will complete a descending triangle, which is a bearish pattern. The next support to watch on the downside is $0.19 and if that also cracks, the downtrend can extend to $0.13. The downsloping moving averages and the RSI in the negative territory also show that bears are in command.

Our bearish view will be invalidated if the pair bounces strongly from the current levels and scales above $0.34229.

XTZ/USD

Binance added support to Tezos (XTZ) and trading commenced on Sept. 24. However, the bounce due to the positive news was short-lived as traders used the opportunity to lighten up their positions. Tezos was the fifth-best performer of the past seven days. It slipped about 16% during the period. How does it look on the chart? Let’s find out.

XTZ/USD

The bulls are attempting to defend the critical support of $0.829651. If this support breaks down, the next stop is likely to be $0.650511, which is the 78.6% Fibonacci retracement of the rally and if that level also cracks, a drop to $0.33 will be in the cards. That will bring the large range of $0.33–$1.85 into play.

Conversely, if the XTZ/USD pair bounces off the support at $0.829651, it will act as a higher low. Above $1.20, a rally to $1.85 is likely. If bulls propel the price above this resistance, a new uptrend is likely.

The market data is provided by the HitBTC exchange.

Ongoing EOSIO exploit allows attacker to gain 30,000 EOS as network freezes 44658

EOSIO

An ongoing exploit on EOSIO is allowing an attacker to win every roll on gambling dApp EOSPlay by paying to fill blocks with their transactions. So far, the attacker gained 30,000 EOS worth over $110,000 while making the network “unusable.”

Scale of the exploit

A clever attacker was able to use REX, an EOS resource exchange for RAM and CPU, to ensure that blocks were filled with their transactions to continuously win on the gambling dApp EOSPlay. This resulted in the EOSIO network “freezing” as thousands of EOS were fed to the attacker’s wallet, as confirmed by another source.

For 300 EOS, worth a little over $1,000, the attacker was able to make away with 30,000 EOS tokens, said Jared Moore to CryptoSlate, an active community member. A look at the on-chain transactions involved confirms the attack.

One anonymous smart contract developer, the creator of the ERC-233 token, stated the attack may have impacted more than just EOSPlay. The attacker appears to be leveraging multiple accounts to exploit several different smart contracts.