Bitcoin perked up this week showing slightly more life than previous weeks. News headlines also included an array of legal and commercial topics, including crypto Twitter tipping and another unregistered ICO’s SEC dealings.
In the bitcoin category
According to CoinMarketCap data, bitcoin saw a nice rally from about $3,700 up to over $3,990 at some points. At the time of this writing, bitcoin sits around $3,990 looking to possibly make a run at $4,000.
Is there substance behind bitcoin’s rally?
On Monday, bitcoin consolidated after a fairly convincing move upward in price. Price appeared as though it was in the middle of a standard Elliot Wave pattern. The Bollinger Bands also hinted toward possible volatility.
An interesting article from NewsBTC made a reasonable correlation between a rise in Asian stock market prices, and the crypto markets, possibly due to a positive tweet from President Trump regarding dealings with China.
A few parameters from the FBI for avoiding ICO scams
The public has seen many initial coin offering (ICO) scams, difficulties and legal proceedings over the past year or so. In light of the possible risks associated, the Federal Bureau of Investigation’s (FBI) Steven M. D’Antuono gave a few guidelines on navigating the ICO space in an interview with the Paypers media outlet.
Distinguishing a suspicious ICO from a legitimate one can be tough. D’Antuono mentioned a few commonalities among fraudulent ICOs include misrepresented team experience and likely rate of return on investment, as well as other aspects. He also said it is important for potential investors to conduct their own research regarding ICO teams, locations, promoters, etc.
Crypto tipping now available on Twitter
This week saw coverage of Twitter’s new crypto tipping ability. Twitter users can now send tips via cryptocurrency using a new Chrome extension called Tippin.me. The extension makes use of the Lightning Network.
Tippin.me gives users a “simple web custodial wallet to receive and manage Bitcoins through Lightning Network […] Right now, it only allows you to receive and cashout Lightning Payments; however, there are a lot of features in the roadmap if this gets traction: integration with merchants, better wallet functionality, etc.,” the project stated on its website.
Unregistered ICO reports itself to the SEC and comes to terms
This week also revealed updates on a recent ICO’s settlement with the U.S. Securities and Exchange Commission (SEC).
Gladius Network LLC (GLA) ran its ICO in late 2017, collecting millions of dollars.
An SEC press release explained Gladius self-reported itself to the SEC in the summer of 2018, and has agreed to cooperate, give investor funds back, register its tokens and file routine reports. Because of the ICO’s honorable actions, the SEC reportedly chose not to penalize the project.