Rep. Soto is after establishing an office to monitor all the blockchain-concerned activities within the Federal government that are unrelated to defense.

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H.R.9067 is the bill that was filled on 31 of Dec 2020 to establish an office for coordinating blockchain technology federal apps. As of then, the bill was delivered to the House Committee on Energy and Commerce. 

Darren Soto, the sponsor of the bill, has been a true advocate of cryptocurrency (for campaign donations) and blockchain in general.

“Certainly I could see it being utilized very soon, over the next couple of election cycles,” said a co-chairman of the Blockchain named Cacus.

He offered hope that since a patent has been filled by the United States Postal Service for a mail-in voting system based on blackchain, they can utilize it in the near future. 

Mr Soto also pointed out that two years of pushing his colleagues in the Digital Taxonomy Ac (the Energy and Commerce committee) has come to an end.  His efforts will set the grounds for an investigation on the employment of the blockchain technology in government and having a dedicated office which is in charge of this would probably expedite the process of adopting and employing these technologies.


An office for Federal use of blockchain tech coordination

A large number of short risky positions were liquidated when Bitcoin rose to $30,950 

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Bitcoin rose and touched $31K and left many of the traders in awe as they had bet on a bearish pullback.

![cyvh.png](/uploads/cyvh_87825e6cd2.png)
###### Source: Coin360

Further data from other sources have confirmed BTC’s peak at $30,960 on the second day of January 2021. 

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###### TC/USD 1-minute candle chart. Source: TradingView

Followed by a bullish charge that raised BTC levels more while press-time levels were struggling to reach 31K. 
Not all the traders felt the same. Some were cheering and celebrating while others were gloomy.

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A tweet from a bot that tracked liquidated trades on BitMEX derivative said “I'm shocked, shocked to find that gambling is going on in here!”. The tweet states that the shorters had incurred $10m of loss.

The altcoins saw rises in their values as well. Dodgecoin rose by 42% while ETH, the second most well-known currency, dropped below $750.


Rising dramatically in price, Bitcoin touched $31K and $100 million of shorts we liquidated 

The fraud seem to have lured people into investing in a 2017 scheme with a 20% monthly profit.

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Umesh Verma, a 60 year-old who is alleged of leading a scam worth 25m rupee ($340,000) was arrested at Indira Gandhi International Airport in Delhi on Thursday.

Mr. Verma and his son have been alleged to have lured people into investing in a scheme under Pluto Exchange for a 20% to 30% return on a monthly basis. This exchange offered its native coins called Zarus for people’s investments. Nonetheless, it didn’t take long after the schemes launch on November 2017 that the returns ran out and Mr. Verma went off the grid till he was seen in Dubai in 2018.

He was arrested as a case of misappropriation of funds in September 2020. Pluto Exchange had also lunched the first cryptocurrency mobile app that was claimed to be able to trade and store BTC using a cell phone number only. 

It’s interesting to know that this man had been apprehended by the police in December 2017 regarding smuggling gold.


Arrested under a 25 million rupee Indian crypto scam allegation at the Delhi airport. 

Having raised up to $10M out of the total $117M so far, INX hopes to will have raised it by the end of the year.

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INX is extending its IPO (initial public offering) with listings on the exchanges around the globe.

This digital asset trading platform, INX has asked the Canadian Securities Exchange (CSE) to have its security token listed and this request demands the CSE’s confirmation as it was announced on October 30 by INX.

According to INX’s representatives, this is not the only exchange that they wish to have their token listed but certainly it’s the first.  َAccording to Cointelegraph, an INX spokesperson said that “This will provide dramatically higher access to capital and liquidity on a global scale, impacting the legacy equity way of the stock exchanges of the world,”.

Its CEO believes that they are working hard in order to present new solutions as response to the dynamic and fast-changing environment of the digital capital markets. 

"Digital securities represent a logical evolution in how investment instruments are constructed, issued, and traded on a regulated marketplace."

We can argue that INX is having a unique IPO as it’s the only case which has been verified by the Securities and Exchange Commission of the US. INX has set another record in terms of being the first have the SEC approval so as to offer its token to institutional and retail investors. They offer INX to investors around the globe who are subject to the regulations of those locations, an INX spokesperson said to Cointelegraph.

Expecting to finish the IPO by the end of 2020 has created a challenge for INX as $117M is a large sum. After raising more than $10M, they know that there is still a mountain to climb. 

Since September 10, and for its IPO, INX has been accepting major cryptocurrencies such as Bitcoin and Ether.


To raise its $117M IPO, INX is using the token listings on the exchanges around the world                          

It’s really interesting to know that while Bitcoin has seen a sharp rise in its price, Ethereum has dropped in value. 

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Although Bitcoin has seen a sharp rise in its value, the other coins or altcoins have been cut in their price significantly and the traders who did not have much BTC in their accounts received some damage.

It must be mentioned that prior to this, Ether Price pattern was rising at a rate even a bit higher than the one for Bitcoin since it is considered as the second top cryptocurrency. However, this is not the story anymore. That is, while Bitcoin is carrying on the bullish trend, Ether is trying hard to flip $400 to support. 

A lot of crypto activist and traders have tweeted that the altcoins are done as they observed Ethereum momentum loss and the altcoins’ correction and some are referring to the bearish price action in ETH/BTC pair as an evidence.


Should Bitcoin consolidate, Ethereum ascending price channel may break

It’s really interesting to know that while Bitcoin has seen a sharp rise in its price, Ethereum has dropped in value.