Top Blockchain and Crypto News — 11/12/2020
Illegal ICOs Paid a Quarter of SEC’s $4.68 Billion Crackdown
The United States Securities and Exchange Commission (SEC) has published its annual report for FY2020, revealing that its enforcement division collected over $4.68 billion in disgorgement and penalties. A quarter of that amount came from the bust of Telegram’s Gram token sale.
The money collected as disgorgement and penalties by the regulator hit a record last year. In the previous year, the SEC collected $4.3 billion, meaning there was a roughly 8 percent increase in FY2020.
The SEC took action against a total of 715 cases that ranges violators from securities offerings, insider trading, and market manipulation.
Binance awards $200K to investigators who identified phishing campaign attackers
In an official announcement, cryptocurrency exchange Binance, said it has offered the promised bounty of $200,000 to certain private investigators, who remain unnamed, for compiling a report that identified one of the alleged attackers and provided information on the specifics of the attack.
Earlier, the exchange had decided to reward anyone who “supplies information that leads to the legal arrest” of the hackers involved in the “attempted hacking” incident on Binance on 7 March 2018.
Bitcoin Price Hits $16,000 for First Time Since 2017
Today, Bitcoin price reached the 33-month highs to settle above $16,000. Analysts now suggest some salient reasons could have fueled the surge.
On November 12, Bitcoin surged past $16000, a level that was last seen in 2017. Coinspeaker’s data showed that after 5 a.m. ET, the price of the dominant crypto, had climbed up to $16019. Currently, it is trading at $16016.
This year alone, Bitcoin (BTC) chalked up a stellar price rally, more than doubling in value, reminiscent of the 2017 monster rally. At first, the reason for such a high move was not clearly established, but now industry analysts have come up with 3 main reasons to explain such a trend. The reasons include the non-overheated derivatives market, $14900 whale supply zone, and $16000 repeated retest.
Tezos “Delphi” upgrade goes live with faster transactions and lower fees
The fourth upgrade to the Tezos network went live earlier today at block 1,212,417, as per a tweet by its foundation and code maintainer.
The Tezos blockchain was first announced in 2017 and was one of the biggest initial coin offerings at the time. Its mainnet has been active since mid-2018 and has not faced my issues (both security or technical) in this period.
One of the more significant crowd pullers of Tezos’ is its on-chain governance model, which allows holders of the native XTZ token to propose network upgrades and features, vote on existing proposals, and improve the overall functionality of the protocol.
Welcome to Delphi! 🏛️ #Tezos upgraded at block 1,212,417. pic.twitter.com/XjnQmAefjN
— Tezos (@tezos) November 12, 2020
Will the Biden Administration Be Good or Bad for Crypto?
President-elect Joe Biden has never taken any strong public stance on cryptocurrency policy. (At least, not at press time.)
In fact, the only direct statement that the President-elect has made on cryptocurrencies came on July 15, just one day after a teenage hacker forced the issue. Only July 14th, the teen broke into Biden’s account as well as the accounts of Barack Obama, Elon Musk, and others to ask unsuspecting followers to send him Bitcoins.
“I don’t have Bitcoin, and I’ll never ask you to send me any,” the real Joe Biden tweeted after the incident. “But, if you want to chip in to help make Donald Trump a one-term President, you can do that here.”
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