Month: August 2018

Japanese E-Commerce Major Rakuten to Acquire Local Crypto Exchange Everybody’s Bitcoin

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Japanese e-commerce giant Rakuten, which has a market capitalization of over $12.5 billion, has revealed a 265 million yen ($2.4 million) deal to acquire domestic crypto exchange Everybody’s Bitcoin, in an announcement published August 31. The deal, which will reportedly be settled by October 1, has been made via Rakuten’s subsidiary, Rakuten Card Co. Ltd. It is based on a stock purchase agreement between the latter and Everybody’s Bitcoin parent company Traders Investment. Today’s announcement indicates that Everybody’s Bitcoin reported a net loss of around $444,200 in the fiscal year…

Japanese E-Commerce Major Rakuten to Acquire Local Crypto Exchange Everybody’s Bitcoin

boss

Japanese e-commerce giant Rakuten, which has a market capitalization of over $12.5 billion, has revealed a 265 million yen ($2.4 million) deal to acquire domestic crypto exchange Everybody’s Bitcoin, in an announcement published August 31. The deal, which will reportedly be settled by October 1, has been made via Rakuten’s subsidiary, Rakuten Card Co. Ltd. It is based on a stock purchase agreement between the latter and Everybody’s Bitcoin parent company Traders Investment. Today’s announcement indicates that Everybody’s Bitcoin reported a net loss of around $444,200 in the fiscal year…

PwC Accelerator to Train 1000 Staff in Blockchain Over 2 Years

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U.K.-based multinational professional services network PricewaterhouseCoopers (PwC) will bolster its employees’ blockchain knowledge through a dedicated program next year, Digiday reported Thursday, August 30. Part of a coordinated push to enhance digital awareness, the company will put 1000 staff through its Digital Accelerators program, which will run for two years from January. Participants will forego a portion of their regular workload and instead focus heavily on digital innovation including blockchain. Sarah McEneaney, digital talent leader at PwC and head of Digital Accelerators, told Digiday that client demand and competition formed…

Japan’s Messaging Giant LINE Launches Its Own Cryptocurrency

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Japanese social messaging giant LINE has launched its own cryptocurrency and in-house blockchain, according to an announcement released today, August 31. LINE has revealed that the genesis block of its new mainnent, LINK chain, was generated August 23. The company describes the mainnet as a “service-oriented” blockchain network that will enable decentralized apps (dApps) to be directly applied to LINE’s messaging platform. The company plans to issue a total of 1 billion LINK tokens to users of its platform, saying it will keep 20 percent — or 200 million tokens…

Square Acquires A New License To Expand The Limits Of Digital Payments

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Square Inc., has acquired a patent that will let merchants accept payments across cryptocurrencies. According to documents published on scribd.com, the US Patent & Trademark Office (USPTO) gave the green for the new dimension. Users will pay with a currency of their choice and merchants will also receive any currency. Mass usage of cryptocurrencies Square is a mobile payments platform that has recently made serious inroads in blockchain technology. The move is a positive step in the adoption and mass usage of digital coins in the mainstream market. Filed in…

Bitcoin Lost 10% in August But May Have Made Long-Term Bottom

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Bitcoin (BTC) is all set to end August with double digit-losses, but a closer look at the price action suggest better times lie ahead for the leading cryptocurrency. At time of writing, BTC is trading at $6,940 – down 10.7 percent from the month’s opening price of $7,727, according to CoinDesk’s Bitcoin Price Index. However, losses would have been much bigger had prices not recovered from the six-week lows below $5,900 seen on Aug. 14. Indeed, the bitcoin market has witnessed a solid two-way business this month. Sellers dominated the…

Survey Shows Steady Rise In Students’ Interest In Crypto and Blockchain Courses

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A nationwide survey of students and universities in the United States has found a growing roster of crypto and blockchain courses amid a steady rise in students’ interest in both the subjects. The survey was conducted by US digital currency exchange Coinbase in partnership with research firm Qriously. The report was prepared on the basis of a survey of 675 U.S. students, a comprehensive review of courses at 50 international universities, and interviews with professors and students across the country. 42 percent of the world’s top 50 universities now offer…

Litecoin price is showing clear signs of a major bounce back

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Litecoin’s price declined a few points towards the $59.00-$60.00 support against the US Dollar. However, with a strong support and increased adoption, the coin’s price is showing signs of a major bounce back. According to the daily chart, Litecoin’s price declined below major support levels at $60 and 59.20. Additionally, there was a break below the 61.8% Fib retracement level of the last upside move from the $56.88 low to $63.80 high. Nonetheless, the decline was reversed by a strong support at $58.50 and the price is currently showing signs…

Rakuten Is About to Buy a Bitcoin Exchange for $2.4 Million

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Japanese e-commerce giant Rakuten is planning another step into the cryptocurrency industry with the acquisition of a local bitcoin exchange. The company said in an announcement that it has inked a share transfer agreement for 100 percent of an exchange called Everybody’s Bitcoin on Friday. The acquisition appears to be costing the firm 265 million yen, or $2.4 million, when it goes through on Oct. 1. Explaining the move, Rakuten said it believes “the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future,”…

Bitcoin Price Watch: BTC/USD Recovers Sharply, Could Retest $7,120

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Key Points Bitcoin price extended downside correction and tested the key support at $6,775 against the US Dollar. This week’s followed major bullish trend line was breached with support at $6,930 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair bounced back sharply after testing $6,775 and it could revisit the recent high in the near term. Bitcoin price decline was contained by $6,775 against the US Dollar. BTC/USD is still in a positive zone and it may soon climb back towards $7,120 and $7,200.…