Day: September 5, 2018

Market Jittery as $1 Billion Worth of Bitcoin Rumored to Be Dumped

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The cryptosphere is agog with rumors about a bitcoin whale – someone controlling a significant amount of bitcoin – preparing to dump approximately $1 billion worth of bitcoin on the market. If it happens, such a move would almost certainly have a devastating effect on the price of bitcoin and other crypto assets in a market whose total capitalization is still below $300 billion. Two major theories are making their way around the identity of this mysterious bitcoin whale who is threatening the industry. Possible Silk Road Scenario According to…

Bitcoin (BTC) Price Watch: Will Resistance Hold or Fold?

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Bitcoin Price Key Highlights Bitcoin price has been on a steady climb recently and is closing in on a nearby resistance level. Price is still trading inside a falling wedge pattern on its daily chart and is about to test resistance around $7,500. Technical indicators suggest further bearish pressure, but there are some signs of bullish momentum. Bitcoin price is gearing up to test the top of its daily falling wedge, and technical indicators suggest that bears could return here. Technical Indicators Signals The 100 SMA is below the longer-term…

Crypto Mining Accepted as an Industry by Iranian Authorities

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The Secretary of Iran‘s Supreme Cyberspace Council revealed that various ministries of the country’s government have accepted crypto mining as an industry, local news agency IBENA reports September 4. According to the report, the Cyberspace Council’s secretary Abolhassan Firoozabadi stressed that the mining of cryptocurrencies such as Bitcoin (BTC) has been approved as an industry by major government authorities. However, official legislation forming a legal framework for the industry has yet to be introduced in the country. Firoozabadi said that crypto mining has been accepted as an industry by Iran’s…

SEC Denies Bitcoin ETFs Because Applicants Do Not Fit Industry Archetype

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The reason the U.S. Security and Exchange Commission (SEC) has insofar denied crypto exchange traded funds (ETFs) is because the crypto industry does not fit the applicant archetype, according to the CEO of crypto payment startup Abra, CNBC reported September 4. Speaking in an interview with CNBC’s “The Coin Rush,” Bill Barhydt suggested that the SEC has rejected crypto ETF applications because “people who are doing the applications don’t fit mold of who the SEC is used to approving.” Barhydt said that in order to receive approval for an ETF,…

Philippines Regulators Prepare to Publish Crypto Trading Rules

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The Philippines Securities and Exchange Commission (SEC) is planning to release new trading rules for cryptocurrency exchanges in the coming days, according to local media. The Manila Times reports that SEC Commissioner Ephyro Luis Amatong told journalists that the rules are set to be published “by the end of next week,” though an exact date hasn’t been specified. Regulators in the country have been mulling various ways of regulating the cryptocurrency space for the better part of two years, a process that has seen officials putting together a framework for initial coin…

MEGA Chrome Extension Compromised to Steal Users’ Monero

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The MEGA Chrome extension version 3.39.4 has been compromised and can now steal user’s Monero in addition to other sensitive information, according to recent posts on Twitter and Reddit. MEGA Chrome extension is a tool that claims to improve browser performance by reducing page loading times, in addition to providing a secure cloud storage service. The official Twitter account of Monero (XMR) posted a warning, advising XMR holders to steer clear of MEGA. PSA: The official MEGA extension has been compromised and now includes functionality to steal your Monero: https://t.co/vzWwcM9E5k…

XRP Prices Lags as Technicals and Fundamentals Diverge

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Brad Garlinghouse remains a dedicated Ripple and XRP ambassador. Recently, he admitted that citizens are far from using XRP for buying coffee or settling normal bills. That’s why he considers XRP a “digital asset” which the company—as acknowledged by Mitsubishi UFJ Financial Group—is using to build a convenient, secure and cheap remittance solution for companies as well as individuals. From the News Mitsubishi UFJ Financial Group, a Tokyo based bank and the sixth largest bank in the world with operations in more than 50 countries is the latest financial institution…

Player Tokens brings together blockchain and baseball cards

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Player Tokens Inc. is betting that digital assets and blockchain technology will reshape the way sports fans buy and sell rare collectibles. The Seattle startup came out of stealth mode in August, revealing its “crypto-collectible service” that puts a new spin on the traditional baseball card and owning collectibles. The company, backed by Madrona Venture Group, last month signed a deal with the Major League Baseball Players Association to sell digital “tokens” featuring real MLB players. Packs of tokens, priced from $5.99 to $8.49, can be purchased with a credit card.…

Is it Possible for China to Pursue Blockchain Innovation With Crypto Ban?

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Over the past two weeks, the government of China has effectively banned everything related to crypto trading and investment including news sites, social media accounts, events, and exchanges. Subsequent to putting an end to virtually all communication and investment channels related to the cryptocurrency market, China has said that it will continue to accelerate blockchain development, doubling down on its $3 billion investment in the technology since the second quarter of 2018. Centralized Blockchain Networks Every public blockchain network is equipped with its own native cryptocurrency because every individual on…

Naples’ Mayor Plans to Launch Autonomous Crypto in Push for Greater Southern Autonomy

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Naples’ mayor, Luigi de Magistris, has posted an impassioned pledge to launch an autonomous municipal cryptocurrency that, he says, would unshackle the city from “anti-southern discrimination” and “unfair” debt, on his Facebook public profile September 2. De Magistris argued for the new currency as part of a threefold plan of action that would reclaim political and fiscal autonomy for Naples — the capital of Italy’s southern Campania region. While yesterday’s rhetoric-laden post did not explicitly outline details, the mayor’s previously discussed plans to launch a municipal cryptocurrency tied to the…