Day: September 6, 2018

Recent Reports About Crypto Trading Desk Are ‘Fake News’

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Goldman Sachs Chief Financial Officer (CFO) Martin Chavez said that recent reports about the company abandoning its plans to open a cryptocurrency trading desk are “fake news,” CNBC reported September 6. At the TechCrunch Disrupt Conference in San Francisco, Chavez reportedly said that reports about the company’s intentions for a crypto trading desk were unfounded: “I never thought I would hear myself use this term but I really have to describe that news as fake news.” Rumors that Goldman Sachs planned to establish a crypto-focused unit by the end of…

Abra Supports SEPA Bank Transfers, Enabling Crypto Purchases With Fiat

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Abra, the all-in-one digital wallet and cryptocurrency exchange, has announced its support for Single Euro Payment Area (SEPA) bank accounts. European users can now enable direct wire transfers from European banks to purchase any of Abra’s 28 available cryptocurrencies. Founded in 2014, Abra is working toward providing users with maximum privacy and control. The application is non-custodial, and the wallet’s private keys are never held by anyone other than the actual user. Abra employs no middlemen, ensuring customer funds are never touched, managed or viewed by outside parties. Past and…

Coinbase Eyes ETF With Help From BlackRock, Business Insider Report

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In an effort to expand its institutional services, Coinbase is joining an industry chase for the ever-elusive bitcoin exchange traded fund (ETF). As reported by Business Insider, the cryptocurrency exchange provider has been liaising with BlackRock, a U.S. investment management company with some $6 trillion in assets under its purview. Individuals close with the matter said that Coinbase has sought guidance from BlackRock’s blockchain working group. While Coinbase spoke directly with employees involved with BlackRock’s blockchain arm, the exchange is after the organization’s expertise in legacy markets. The firm has…

Battle of the Privacycoins: Why Dash Is Not Really That Private

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Based on blockchain technology, most cryptocurrencies have an open and public ledger. While this is required for these systems to work, it comes with a significant downside: Privacy is often quite limited. Government agencies, analytics companies and other interested parties — let’s call them “spies” — have ways to analyze the public blockchains and peer-to-peer networks of cryptocurrencies like Bitcoin, to cluster addresses and tie them to IP addresses or other identifying information. Unsatisfied with Bitcoin’s privacy features, several cryptocurrency projects have, over the years, launched with the specific goal…

Ethereum Price Falls to 12-Month Low as Altcoins Suffer

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Ethereum’s price fell to a 12-month low of $228.8 today, falling below the $255.05 of Sept. 17, 2017, fulfilling expectations of those who have predicted a weakening of support that ICOs have bestowed on the second largest cryptocurrency since early last year. Source: CCN Ethereum’s price has been on a roller coaster since it began climbing above the $20 range in March of 2017. The price reached $1,377.72 on Jan. 13, 2018, according to Coinmarketcap.com, riding the cryptocurrency market growth at the time. Some analysts credited a surge to ICOs…

Crypto Exchange Kraken Denies Rumors of Sudden Staff Layoffs in Canada

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Crypto exchange Kraken, currently ranked 11th largest globally by daily trade volumes, has denied rumors that it is laying off staff in its unit in Halifax, Canada, Finance Magnates reports September 6. The denial comes after a post to a local discussion thread on reddit alleged that Kraken’s “unit 102 at 60 Highfield park drive” had laid off “hundreds of people…after making them sign voluntary quit forms,” further claiming that a “giant commotion” had erupted in response to an alleged security breach. After making the claim, the redditor in question…

Market-Wide Losses Intensify in Second Day of Major Crypto Price Plummet

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Thursday, September 6: crypto markets are blisteringly red, with virtually all of the top 100 coins posting hefty losses on the 24-hour charts, as Coin360 data shows. Market visualizat​ion from Coin360 Bitcoin (BTC) is trading at around $6,492 at press time, down almost 6.32 percent on the day, according to Cointelegraph’s Bitcoin Price Index. Having broken through the $7,000 threshold August 31, Bitcoin saw a solid uptrend until its sudden plummet yesterday, September 5. The top coin is now around 8 percent down on its weekly chart. On the month,…

Uzbekistan Creates State Blockchain Development Fund

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Uzbek president Shavkat Mirziyoyev has ordered the establishment of a state blockchain development fund called the “Digital Trust”, according to a document published on official government website Sunday, September 2. The fund’s aim is to integrate blockchain into various government projects including healthcare, education, and cultural areas. The organization will also be responsible for international investment in the Uzbek digital economy. The Digital Trust will be funded by the National Agency of Project Management in addition to international loans and grants. In a recent move to support the blockchain and…

Blockchain-Based E-Commerce Platform to Help Merchants Open Shops Without Startup Capital

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A startup e-commerce ecosystem is turning to blockchain to help businesses become more operationally efficient, while enabling billions of users on social media “to generate income with ease.” TIPO says it has identified three major problems facing the e-commerce market today. According to the company, many of the platforms currently dominating the industry are too focused on buying and selling when there are many other services that can benefit merchants and their loyal customers. Plus, while online payments have continued to rise, market share is yet to reach its true…

Buying a Rolls-Royce? Texas Dealer Becomes First to Accept Bitcoin

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Texas dealership Post Oak Motor Cars has announced itself as the first Rolls-Royce franchised dealer able to accept Bitcoin as payment for a new Rolls. Post Oak integrated cryptocurrency processor Bitpay into its payment system, and boasts that it’s the first Rolls-Royce, Bentley, and Bugatti dealer in the United States to accept Bitcoin. “The rising of bitcoin sparked my interest,” explained Tilman Fertitta, owner of Post Oak Motors, in the dealer’s announcement. “Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this…