Crypto Markets Are Trading Sideways, Bitcoin Holds $3,900 Support

[ad_1] Tuesday, March 12 — crypto markets are trading sideways, with total market cap hovering between $133–$134 billion, and Bitcoin (BTC) holding $3,900 for the most part of the day.The top 20 cryptocurrencies by market cap are seeing mixed signals, with losses not exceeding 1.1 percent, while some coins have seen a growth of over 3 percent over 24 hours at press time.Market visualization from Coin360Bitcoin is trading at $3,912

US Sanctions Moscow-Based Bank Accused of Financing Venezuela’s Controversial Petro

[ad_1] The United States Treasury Department has added Moscow-based bank Evrofinance Mosnarbank to its sanctions list, alleging it was the “primary international financial institution willing to finance” Venezuela’s controversial national oil-backed cryptocurrency, Petro (PTR). The news was announced in an official Treasury press release published on March 11.In its statement, the Treasury accused Evrofinance — which is reportedly jointly owned by Russian and Venezuelan state-owned companies — of materially assisting

US SEC Chairman Jay Clayton Confirms ETH Is Not a Security

[ad_1] United States Securities and Exchanges Commission (SEC) Chairman Jay Clayton confirmed that Ethereum (ETH) and cryptocurrencies like it aren’t securities under U.S. law, non-profit crypto research organization Coin Center reports on March 12.Citing a letter written by Clayton, Coin Center reports that the SEC staff has found that ETH is not a security under U.S. law.In September last year, Coin Center worked with U.S. representative Ted Budd to send

Binance’s Official Crypto Wallet Adds Support for XRP and Credit Card Purchases

[ad_1] The official wallet of leading cryptocurrency exchange Binance, Trust Wallet, has added support for credit card purchases and Ripple’s XRP token. The company announced the new features in a press release shared with Cointelegraph on March 12.Trust Wallet was acquired by Binance in July of last year in the exchange’s first public acquisition.According to the press release, users can now send, receive, store and exchange XRP via Trust Wallet.

Crypto Startup Behind Alibabacoin Agrees to Stop Using ‘Alibaba’ Name After Legal Action

[ad_1] Dubai-based crypto firm ABBC Foundation has agreed to stop using the name “Alibaba” for its cryptocurrency after legal action by Chinese e-commerce giant Alibaba Group, Reuters reported on March 11.The decision from ABBC Foundation is reportedly part of a settlement of an almost year-long lawsuit brought by Alibaba against the crypto startup.ABBC Foundation, previously also known as Alibabacoin Foundation, reportedly said that it regretted confusion caused by its former

How Iced Tea Company Went Blockchain and Failed Despite a 289 Percent Stock Rise

[ad_1] On March 6, Long Blockchain Corp., previously known as Long Island Iced Tea, reached an agreement to sell its beverage business.In December 2017, the firm rebranded itself to focus on blockchain development and enjoyed a 289 percent boost in its stock. Since then, it has been delisted from Nasdaq, hit with a subpoena by the Securities and Exchange Commission (SEC), made (and then cancelled) mining-related plans, and limited its

Client Demand for Crypto Payments Needs Cautious Response From Lawyers, Expert Says

[ad_1] Cryptocurrency payments are a topic of increasing interest for United States lawyers following a recent conference panel, Bloomberg Law reported on March 11.Referencing participants in the 18th Annual Legal Malpractice & Risk Management (LMRM) Conference, which ran from March 5-7 in Chicago, the publication noted the prevalence of cryptocurrency payments in the legal profession, stemming from client demand.As the cryptocurrency industry and markets mature, more clients are asking to

Ethereum User Who Accidentally Paid $365,000 Fee Splits Loss With Mining Pool Sparkpool

[ad_1] Ethereum (ETH) mining pool Sparkpool confirmed it had come to an arrangement with a user who accidentally sent it over $300,000 in mining fees on March 11.The mix-up, which occurred on Feb. 19, involved an Ethereum user apparently confusing the fields required to send an ETH transaction.Three transactions broadcast to the Ethereum network with a combined total mining fee of 2,730 ETH (currently worth about $365,800).While the circumstances behind