CoinPennant Startup to put Copytrading on the Blockchain

Copy traders permit the investment decisions made by a more knowledgeable trader to exert a portion of the funds in their own trading accounts
27 May 2018   589

CoinPennant is going to develop this tendency by channeling advice from instituted traders for those who wish to enter the fast-paced cryptocurrency investment space by using a combined social network and blockchain-based copy trading platform. CoinPennant’s lead business developer, David Hoverman claimed that the fast-growing and volatile cryptocurrency sphere is  daunting to newcomers as the market is beset by risk and fear, uncertainty, and doubt. He explained:

It’s not necessarily due to lack of access but just lack of knowledge. Good, reliable information, especially in relation to trading, is hard to come by, and generally, when you come by it, it’s expensive to obtain.
David Hoverman
Lead Business Developer, CoinPennant

The CoinPennant team firstly presented a subscription-based model according to which the algorithms would be used to analyze market data and push trading indicators to a user’s dashboard. During its study, it pointed out online “signal groups” suggesting information and opinion for a regular financial payment. Some were unreliable, but some were legitimate, as was claimed by Hoverman. This gave the team the idea to deploy its services. 

Together with its original data analysis services, the firm will fold a marketplace for crowdsourced trading advisory services into its platform. Investors will enter the market via a social community that allows them to cooperate with each other and follow those with “master trader” status in the network.

These master traders are people who have been trading Bitcoin and ether since Bitcoin was priced at $500. They could be either individuals or groups who are really good at technical and fundamental analysis and merging the two together to predict the market movements.
David Hoverman
Lead Business Developer, CoinPennant

Newbie traders can shadow the established traders in two ways. The company will also fallback 26 percent of the total tokens produced by the founders and team, 10 percent for advisors and partners, 7 percent for early adopter master traders, and 12 percent for an airdrop. The exact number will be determined by the means contributed. 

The presale and crowdsale are to held in Slovenia, where the most of the founding team resides. CoinPennant will soon declare further details of the crowdsale, that  Hoverman claimed will not be suggested to U.S. citizens.

Authorities to Study Bankrupt QuadrigaCX

Canada Revenue Agency sent a request for access to the tax info from Oct. 1 2015 to Sep. 30, 2018
18 September 2019   43

The Canadian Revenue Agency (CRA) intends to examine corporate declarations that ceased to exist as a result of the bankruptcy of the QuadrigaCX bitcoin exchange, The Globe and Mail reports.

CRA sent a request for access to the tax reporting of the exchange from October 1, 2015 to September 30, 2018, that is, on the date when QuadrigaCX tentatively began problems with the withdrawal of funds.

The E&Y auditor, acting as the trustee of the exchange, intends to discuss the tax request and obtain permission from the court to disclose information.

At the same time, the company noted that one way or another they are forced to comply with the CRA requirements, although this will take a lot of time and delay the payment of compensation to victims.

At the beginning of the year it became known that QuadrigaCX lost access to user funds by $ 190 million, and somewhat later, Indian authorities confirmed the death of the founder of the exchange, Gerald Cotten.