Day: September 5, 2018

Goldman Sachs Said to Have Sidelined Plans for Crypto Trading Desk

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Investment bank Goldman Sachs has reportedly dropped plans to launch a cryptocurrency trading desk, for now at least. A Business Insider report on Wednesday, citing “people familiar with the matter,” said the decision has been made as the regulatory situation in the U.S. is still a gray area when it comes to cryptocurrencies. However, per the sources, the banking giant hasn’t abandoned the idea completely, but is rather pushing the possibility lower down on its priorities list and could still move to open the desk at a later date. Further,…

XYZ: Ethereum Is Getting Another Popular Domain Name

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Users of the Ethereum Name Service (ENS) can now claim .xyz domains to connect to their wallets, smart contracts or other services, ENS developer Nick Johnson announced Wednesday. Johnson wrote in a blog post that the new domain name option comes after some testing and development, and is “now supported by ENS on mainnet.” Users who are interested can purchase the domain through any Domain Name Service registrar and use it like any .eth domain, meaning users can associate it with their wallets, name smart contracts, create subdomains and more.…

TransferGo Opens Payments Corridor to India Using Ripple Tech

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Payment provider TransferGo has announced it is launching a remittance corridor to India that uses Ripple technology for near real-time transactions. Available from “anywhere in Europe,” the firm said in a press release that using Ripple’s services allows it to replace the “multiple slow incumbent communications systems, most prominently Swift, where transfers can take up to 2–3 days.” The release did not clarify which of Ripple’s blockchain-based payments products TransferGo is using for the service. The payments company cited the “multi-billion dollar” Europe-to-India payments corridor for its initial focus on that…

Think Tank Report Argues for Standardized Crypto Rules Within EU

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A Belgium-based think tank is arguing that the EU should create a single standard for cryptocurrency rules in a report sent to finance ministers within the economic bloc. Bruegel, based in Brussels, the Belgian capitol, believes that the EU needs “common rules” on cryptocurrencies, as well as how tokens are distributed and traded, Reuters reported Wednesday. It’s report comes in advance of an “informal meeting of economic and financial affairs ministers” later this week. The report is not yet publicly available. The report says the EU should enforce common regulations…

European Parliament Members, Blockchain Experts Meet to Discuss ICO Regulation

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Members of the European Parliament along with blockchain experts met Tuesday, September 4, to discuss possible regulations for Initial Coin Offerings (ICO). At the recent EU event entitled “Regulating ICOs — Is the Crowdfunding Proposal what we were looking for?” the attendees examined the potential complications currently arising in the ICO industry. Ashley Fox, a British Member of the European Parliament, pinpointed three main issues to consider at the meeting: challenges faced by ICOs in raising capital, the existing regulatory approaches on the matter, and the future perspectives of the…

Crypto Markets See Sharp Decline as Total Market Cap Drops $12 Billion in One Hour

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Wednesday, September 5: crypto markets have suffered a sharp decline within one hour, with total market cap down $12 billion and almost all of the top 100 coins by market cap in red, according to CoinMarketCap. Market visualization from Coin360 Major cryptocurrency Bitcoin (BTC) has again dipped below the $7,000 point today, according to Cointelegraph’s BTC price index. Bitcoin is down around 5 percent over the past 24 hours, trading at around $6,996 at press time. The digital currency is hardly holding monthly gains, while weekly losses have amounted to…

Government Official Hails Blockchain as ‘True Mark of Progress’

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The government of Bahrain has stressed the importance of blockchain technology for the country’s economy while urging cybersecurity vigilance, local media outlet News of Bahrain reported Tuesday, September 4. As part of an address to audiences at the country’s SmartSec Cyber Security and Blockchain Conference 2018, Abdulhussain Mirza, Bahrain’s minister of electricity and water affairs, appeared to confirm the government’s commitment to fostering blockchain. “Technologies such as blockchain take us a huge step forward in finding a secure way to facilitate transactions,” Mirza said, adding: “Blockchain’s ability to protect user’s…

BTCUSD Breaks Rising Wedge Support

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Against every bullish expectation, bitcoin price finally lost its latest upside today to growing bearish pressure. The BTC/USD on Wednesday plunged as much as 7 percent. The pair seemed to have overstayed its welcome near the resistance of our Rising Wedge channel. There was absolutely no buying sentiment visible around the area in the past three days. The early Asian session saw to it and started crashing the value. By mid-Asian and early-European session, BTC/USD had crashed from its intraday high near 7400-fiat to a new intraday low towards 6902-fiat.…

Cryptocurrency Market Cap Drops by More than $17 Billion

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A widespread bearish correction across the cryptocurrency market led to losses worth more than $17 billion. Almost all the top coins, including Bitcoin, Ethereum, Ripple, and EOS, contributed to the crash. While Bitcoin dropped as much as 5 percent against the USD, altcoins including EOS, Bitcoin Cash, Litecoin, Monero, Ethereum, and Ripple each experienced double-digit losses. Stellar, at the same time, looked like the winner of the least bearish altcoin among the top ten cryptocurrencies, recording losses of over 6 percent. Bitcoin Cash, EOS the Worst Performing Altcoins Among Top Coins…

New Survey Reveals Crypto Optimism Tempered by Bear Market

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New Survey Reveals Crypto Optimism Tempered by Bear Market September 5, 2018 by Ian Edwards A new survey of crypto investors and consumers showed that sentiments towards cryptocurrencies and blockchain remained mostly positive, despite the overall drop in the markets during 2018. Majorities of both investors and consumers planned to increase their crypto holdings in the next year, while bitcoin saw a substantial increase in positive sentiment. Also see: Goldman Sachs Effectively Pumping the Brakes on a Crypto Trading Desk Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders &…