Bitcoin

Bitcoin Daily: Telegram Blockchain Startup Pilots Crypto Wallet; Ember Crypto Portfolio App Looks To Raise $1M In Securities Sale

$10B in bitcoin held by 8 exchanges

Telegram has released an early desktop wallet for its “gram” token, allowing users to download the test app for MacOS, Windows and Linux 64 bit.

“Now you have a wallet only you control – directly, without middlemen or bankers,” the app says, according to CoinDesk.

The company had planned to release its blockchain project, TON, until the company was sued by the United States Securities and Exchange Commission (SEC), which declared grams were unregistered securities. As a result, Telegram has agreed not to launch its TON blockchain project and gram issuance until April 30, 2020, with its hearing with the SEC pushed back until February.

In other news, one year-old Ember Fund, creator of an AI-managed crypto portfolio app, wants to raise as much as $1 million through an SEC-registered securities sale.

In a filing, the startup explained that the sale of “Crowd SAFE” securities will run through the end of January 2020. SAFE (“simple agreement for future equity”) entitles holders to equity if and when Ember is acquired or goes public. Investors will need to post a $100 minimum buy-in.

Ember Fund CEO Alex Wang told CoinDesk back in May that the company is limiting the sale to family and friends.

“Our hope is really to raise as little money as possible,” said Wang, ensuring that he and his founding partners keep control of the company.

Armanino has released TrustExplorer 2.0, the world’s first app using blockchain technology to provide an instant downloadable report, backed by the firm’s opinion.

“For years, thought leaders have predicted the future arrival of real-time auditing capabilities, and now Armanino has accomplished the world’s first business application of this theorized innovation,” said Matt Armanino, CEO of Armanino LLP. “This breakthrough is a catalyst that will lead to the widespread development and adoption of real-time auditing, and offers a transformational improvement over the current audit practices. This evolution will provide more precision and more trust to ecosystems as attestation reporting windows are reduced from 30 days down to 30 seconds.”

And a report in Russia revealed that the Nadvoitsy Aluminum Plant shut down last year due to sanctions imposed by the United States.

A representative for the location’s owner, Russian metal firm Rusal, confirmed that the premises have been leased to a cryptocurrency mining firm, the Russian Mining Company (RMC).

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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