Following a series of platform outages during historic price action earlier this month, Robinhood, a popular stock and cryptocurrency trading app, now faces another class action complaint. The lawsuit, filed March 25, was brought by customer Bruce Queen, on behalf of “all Robinhood customers within the United States who were not able to execute trades on securities or change limit orders during the Outages and incurred financial losses.” Missing the biggest gain in Dow history As Cointelegraph reported, on March 2, the Robinhood suffered technical problems for the entire day, meaning customers were unable to trade the securities in their …

While the current climate seems uneasy for all cryptocurrency businesses, some of them have to deal with extra difficulties. Earlier this month, investors filed a class-action lawsuit against Canaan, a Nasdaq-listed cryptocurrency mining hardware producer. The case is largely based on a February report submitted by an analysis organization called Marcus Aurelius Value, which argued that the mining firm has made misleading statements regarding its financial health. The second-largest Bitcoin mining operation is in trouble Canaan is considered to be the second-largest Bitcoin (BTC) mining machine manufacturer in the world. The firm was established in 2013 by Nangeng Zhang, also …

A report by Marcus Aurelius Value, an analysis organization, argues that the Nasdaq-listed ASIC manufacturer Canaan (NASDAQ: CAN) misrepresented its potential revenue for 2020. At least one of its clients is an alleged related party who is unable to honor the $150 million purchase contract. Aurelius Value also considers Canaan’s AvalonMiner series to be uncompetitive within the ASIC market, noting that the manufacturer’s R&D budget is vastly inferior to competitors like Bitmain. Following the Feb. 20 report, the analysts have deemed the company’s stock to be uninvestable and revealed that they have entered into short positions. Canaan representatives responded to …

Riot Blockchain, a Nasdaq-listed crypto firm in the United States, plans to sell its exchange to focus on Bitcoin (BTC) mining ahead of the halving. According to an official announcement on Feb. 20, Riot has “opted to sunset further development of Riot's U.S.-based digital currency exchange” in order to focus on cryptocurrency mining as part of its updated strategic priorities for 2020. Following the announcement to shift its focus on Bitcoin mining, the company’s shares dropped more than 5%, trading at $1.40 at press time, according to CNBC data. Industry experts disagree on the potential price impact of May 2020 …

For one week, the Iran–United States military crisis gripped the crypto community. It began on Jan. 3 with a U.S. drone strike on a convoy traveling near Baghdad International Airport, killing Iranian major general Qasem Soleimani of the Islamic Revolutionary Guard Corps. The price of Bitcoin (BTC) soared. As reported by Cointelegraph at the time, there is strong evidence to suggest that BTC’s price surge from $7,000 to nearly $8,500 is strongly linked to the tensions between the two nations. For example, the push toward $8,500 took place at the same time as mainstream media began to report on a …

Nasdaq-listed WisdomTree has launched a physically-backed Bitcoin exchange-traded product (ETP) to be listed on Switzerland's principal stock exchange, SIX Swiss Exchange. In a news release published on Dec. 3, the asset manager revealed that online Swiss bank Swissquote will serve as a custody partner for the product, which is being listed at a total expense ratio of 0.95% under the WBTC ticker. Bitcoin “not a passing trend” Targeted at professional and institutional investors, the ETP provides exposure to Bitcoin without the need to store private keys or have a thorough grasp of blockchain financial infrastructure. The ETP is physically-backed by …

Just nine months after its launch, the Nasdaq-powered digital trading platform DX.Exchange is temporarily shutting down as it pursues a merger or outright sale. The Estonia-based platform made the announcement on Nov. 3, informing users that “the costs of providing the required level of security, support and technology is not economically feasible on our own.” Users asked to promptly submit withdrawal requests As reported, DX.Exchange — which uses Nasdaq’s matching engine and market surveillance technology — was launched in Jan. 2019, with support for various fiat and cryptocurrency trading pairs as well as tokenized stocks. In its statement yesterday, the …

The world's second-largest stock exchange, Nasdaq, has listed the AI-powered CIX100 index created by crypto data provider Cryptoindex. The news was revealed in a press release shared with Cointelegraph on Oct. 15. Neural network-based analysis CIX100 is a crypto market benchmark that analyzes uses a neural network algorithm to analyze data for the top 100 cryptocurrencies, taking into account over 200 factors. Reportedly designed to exclude coins with fake volumes and rankings, the “human-free” tool targets both industry newcomers and professional investors. According to the press release, the data is derived from the nine largest cryptocurrency exchanges globally and factors …

Major United States stock exchange Nasdaq has unveiled a blockchain decentralized finance index called Defix (DEFX). According to a Defix press release published on Sept. 9, brokerage firm Exante streamlined the launch of the index. A disparate group of crypto assets The index includes crypto assets of projects such as those belonging to Proof-of-Work blockchain Amoveo (VEO), decentralized exchange protocol 0x (ZRX) and prediction market Augur (REP), as well as the governance token of the decentralized autonomous organization behind the DAI stablecoin and MakerDAO (MKR). Amoveo main developer Zack Hess said: “[I am] glad to see increased awareness being brought …

United States retail giant Overstock announced a dividend payable in shares of its Digital Voting Series A-1 Preferred Stock. A-1 shares can be traded on Pro Securities ATS The Overstock’s digital dividend will be payable at a ratio of 1:10, which means that one share of Series A-1 will be issued for every ten shares of common stock, according to a press release shared with Cointelegraph on July 30. According to the announcement, the existing Series A-1 shares can now be traded on the Pro Securities alternative trading system (ATS), powered by technology owned by Overstock’s crypto subsidiary tZERO. Investors …

Blockchain financial services firm Diginex Ltd. is scheduled to go public through a reverse merger with investment holding company 8i Enterprises Acquisition Corp. Subsequently, the firm will be listed on the Nasdaq, Bloomberg reported on July 10. Diginex is reportedly going to close a reverse merger deal with 8i, which will reportedly amount to $276 million including debt. Diginex shareholders will reportedly get 20 million ordinary shares of 8i, valued at $10 per share. According to Diginex’s CEO Richard Byworth, the deal is set to ensure broader market visibility for the company. As such, Diginex will be “the first fully-diversified …

A Nasdaq-listed company says it is creating a blockchain-enabled platform designed to decentralize data and empower consumers — all while giving brands an alternative to Facebook and Google in the quest to reach the public. Phunware says it is leveraging 10 years of mobile technology experience to enable brands to deliver relevant content to a highly targeted audience, increasing engagement and resulting in a more memorable experience. Customers who share their data with a brand or build loyalty by engaging in profitable behavior, receive incentives, the team adds. Businesses can also begin to benefit from the technology by “supercharging” their …