Day: August 6, 2018

Organized Crypto ‘Trading Groups’ Manipulated Markets to Make $825 Million in 2018

boss

Cryptocurrency price manipulation is largely conducted by organized “trading groups” using services such as Telegram, the Wall Street Journal claimed in a study released August 5. Unveiling the results of research into cryptocurrency markets, the WSJ suggested that coordinated “pump and dump” schemes have seen traders inflate and crash the prices of various cryptocurrencies this year. As a result, it says, such groups are generating hundreds of millions of dollars in revenue for themselves, while others get stung by losses once the groups sell off a particular asset en masse.…

Robinhood Adds Ethereum Classic to Crypto Trading App

boss

Robinhood announced Monday that its customers can now invest in ethereum classic (ETC), just a day before Coinbase adds the option too. The company said in a blog post that the option went live today on its Robinhood Crypto app, adding that only those in the 19 U.S. states with access to the service can trade ETC at this time. Users can also trade in bitcoin, ethereum, bitcoin cash, litecoin and dogecoin, “as well as track market data for 10 other cryptocurrencies,” the post states. As mentioned, crypto exchange Coinbase is also…

Goldman Sachs Plans ‘Crypto Custody’ Offering, Despite Bleak Market Predictions

boss

Goldman Sachs plans to “offer [clients] custody for crypto funds,” insider sources told Bloomberg August 6, as the investment bank says it remains “undecided” on its cryptocurrency plans. As the publication reports, Goldman, which in May first hinted it would trade Bitcoin futures, now aims to offer various products linked to digital assets “in response to client interest.” “In response to client interest in various digital products we are exploring how best to serve them in this space,” a spokesman said, adding: “At this point we have not reached a…

Blockchain-Based Platform Unveils AI Chatbot to Help Students Pass Crucial Exams

boss

A new platform is using artificial intelligence (AI) and blockchain to address the “growing class divide” in education — helping all students access equal opportunities and unlock their full potential. Õpet says it wants to address the “confusion and apprehension” teenagers face when they finish high school and simultaneously offer smart revision tools that will help these students get the best grades possible in crucial exams, resulting in a wider range of options when they are contemplating their first steps. The company says an educational chatbot will be the beating…

How Will the UK Deal With Crypto After Brexit: Expert Take

boss

In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from blockchain technology and ICO funding to taxation, regulation and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please email your ideas and CV to george@cointelegraph.com. The United Kingdom and the European Union failed to reach an agreement on an orderly uncoupling, which is a major geopolitical and strategic event, with global implications. Uncertainty…

JPMorgan CEO Jamie Dimon Returns to Bitcoin Bashing, Calls Cryptocurrency a ‘Scam’

boss

JPMorgan CEO Jamie Dimon returned to his more critical comments about Bitcoin, calling the cryptocurrency a “scam” and saying he had “no interest” in it, Bloomberg reported Sunday, August 5. Dimon was speaking at the Aspen Institute’s 25th Annual Summer Celebration Gala on Saturday, including cryptocurrency as part of general comments he made about the U.S. economic outlook. His words were soon repeated in both the mainstream press and online by prominent economic sources, notably Nouriel Roubini, who has also become known this year for his critical stance on Bitcoin.…

Indian State Government Launches Country’s First ‘Blockchain District’

boss

The government of the Telangana, a southern Indian state, is partnering with a major IT firm to establish a district exclusive to blockchain startups in the state’s capital city. The Telangana State Information Technology, Electronics and Communication Department (ITE&C) has inked a memorandum of understanding (MoU) with multinational IT services giant Tech Mahindra to establish what is being billed as ‘India’s first Blockchain District’. As reported by financial news daily the Economic Times, the Blockchain District will function as an incubator for domestic blockchain startups and companies to develop real-world…

Coinbase Returns to Wyoming After Successfully Renewing Money Transmitter License

boss

U.S. crypto exchange and wallet provider Coinbase has been given the green light from regulators to resume its services in the state of Wyoming, according to an official announcement published August 3. The exchange has now reportedly successfully renewed its money transmitter license in the state of Wyoming. The license had been suspended as of mid-2014 due to stipulations in state law that required all exchanges to “double reserve” the digital assets of state residents with fiat currency. As Coinbase outlined at the time, the exchange had chosen to suspend…

Below $7K: Bitcoin Market Indecisive After 19-Day Lows

boss

Bitcoin’s (BTC) price is trading in an indecisive manner after hitting 19-day lows below $6,900 on Sunday, but could pick up a bid on acceptance above $7,100, technical studies indicate. The leading cryptocurrency fell to $6,890 on Bitfinex yesterday – its lowest level since July 17 – before ending the day (as per UTC) on a flat note at $7,025. The price action indicates indecision in the marketplace, but could also be considered a sign of bearish exhaustion as the market is looking indecisive after a 21 percent slide from…

Bitcoin Price Watch: BTC/USD’s Support Turned Resistance at $7,260

boss

Key Points Bitcoin price recovered and moved above the $7,000 handle against the US Dollar. There is a crucial bearish trend line in place with resistance at $7,260 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair has to move past the $7,260 hurdle and the 100 hourly simple moving average for more gains. Bitcoin price is slowly recovering above $7,000 against the US Dollar. BTC/USD is likely to struggle near a significant resistance at $7,260. Bitcoin Price Analysis After heavy declines, bitcoin price found…