Samsung Launches Galaxy S10 With Crypto Wallet, And SEC Settles Securities Charges Against Gladius…

The State of The Market — February 21, 2019BTC: $3,956.65 (-0.50%)ETH: $145.69 (-1.12%)XRP: $0.323143 (-1.92%)

The market went through a small correction today, after both Bitcoin and Ethereum failed to move past their resistance. A wider correction is expected if this continues. Bitcoin is currently struggling to move past $4,000, while it is $150 for Ethereum. However, unlike the day before, volumes were much higher yesterday. All of the top 10 cryptocurrencies are flashing red right now, and the total market cap lost about $1 Billion in the last 24 hours.

In other news, Coinbase Wallet, a popular mobile wallet by cryptocurrency exchange Coinbase has announced support for Bitcoin Cash. The exchange offers Coinbase Wallet as a solution for its customers to store their own cryptocurrencies. Initially, the wallet only supported Ethereum (ETH) and ERC-20 tokens. Also, Twitter CEO Jack Dorsey has installed the Lightning Network tips feature via tippin.me and has already received some satoshis. Dorsey tweeted about it, saying: “I hooked this up and already got tipped some satoshis.” He showed a screenshot of the transaction, which was for 12,362 satoshis, or approximately $0.49. Dorsey, who recently held the Bitcoin Lightning Torch, appears to be getting increasingly engaged with the crypto community these days.

1) Samsung confirmed that its flagship Galaxy S10 smartphone will feature an integrated secure cryptocurrency wallet. A press release announced that the “Galaxy S10 is built with defense-grade Samsung Knox, as well as ​secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.” To date, Samsung is the largest phone manufacturer to add crypto-storage options to its phones and rumors of the addition had been circulating since last year. Currently, HTC’s Exodus 1 and Sirin Labs’ Finney also offer crypto storage features but both companies lack the widespread distribution reach that Samsung has. This is a developing story that will be updated as more information becomes available. (Read More)

2) Gladius Network LLC, a crypto startup that held a $12.7 million ICO near the end of 2017, has settled charges of holding an unregistered securities offering with the U.S. Securities and Exchange Commission (SEC). The SEC announced the settlement on Wednesday and a press release explained that the ICO was not registered under federal securities laws and did not qualify for an exemption from current registration requirements. The agreement requires Gladius to return funds to any investors who request a refund and the company must register its tokens as securities under the Securities Exchange Act of 1934. Gladius did not admit or deny any wrongdoing. The SEC decided to not issue a penalty since Gladius self-reported its token sale to the regulator and the SEC noted that Gladius “expressed an interest in taking prompt remedial steps.” (Read More)

3) Michael Novogratz, who is the founder of crypto merchant bank Galaxy Digital, said that he is a “proud partner” in the fundraising round for crypto security firm CipherTrace. The startup attracted $15 million to its coffers in a round that was led by Aspect Ventures. In addition to being an investor, Galaxy Digital is reportedly also a customer of CipherTrace. Galaxy Digital’s Greg Wasserman stated: “Appropriate AML technology is critical for the mainstream adoption of digital assets. Institutional investors are increasingly looking to platforms like CipherTrace to monitor the integrity of transactions with their counterparties.” CipherTrace is involved in “anti-money laundering (AML), cryptocurrency forensics and blockchain threat intelligence.” (Read More)

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