Day: October 29, 2018

Hacked Crypto Exchange Coincheck Posts 66 Percent Lower Revenue in Q3 2018

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Japanese crypto exchange Coincheck saw a 66 percent decline in revenue for Q3 2018, according to fiscal results published by the exchange’s operator, Monex Group, Oct. 29. Coincheck was acquired by Monex Group Inc. as a wholly owned subsidiary on Apr. 16, when Coincheck decided to rehaul its shareholder composition and management after $532 million worth of NEM was stolen from its wallets this January. Monex CEO Oki Matsumoto told CT Japan today the exchange is “still awaiting” a license from the regulator. Monex’s results reveal that between July and…

Is Mining Too Complex and Scary? Here’s How to Do It With One-Click

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Unless you’re a hardcore crypto enthusiast with intense technical knowledge, it is highly unlikely that you’d know where to start when it comes to mining. The team behind WinMiner, with a history of over 1 billion installs, is vowing to change all of this. CEO and co-founder Ariel Yarnitsky, the former general manager of the pioneering instant messenger ICQ, and co-founder Idan Feigenbaum, creator of one of the most popular download managers, Download Accelerator, are leading this initiative. They say their “game changing” product easily enables anyone with a computer…

Bitcoin Exchange Bitstamp Confirms Sale to Gaming Group NXC

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Cryptocurrency exchange Bitstamp has been acquired by NXMH, an investment firm based in Belgium and owned by South Korean conglomerate NXC. In a deal signed last Thursday, the firm took a majority ownership stake in the exchange. Bitstamp CEO Nejc Kodrič will retain a minority ownership stake and continue running the startup’s operations. The terms of the deal, including the sale price, were not disclosed. Bitstamp backer Pantera Capital will also retain a 6 percent ownership stake in the exchange, according to statements, and Bitstamp will continue to operate independently. NXMH’s parent company,…

Bitcoin News Summary – October 29, 2018

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Here’s what happened this week in Bitcoin in 99 seconds.  Crypto markets remain steady this week. Markets were largely unchanged from last week, with Bitcoin holding the $6,400 level, Ethereum keeping its $200 level, XRP steady at 45 cents and BCH holding the $440 range. The total crypto market cap is now at around $209 billion, of which Bitcoin’s value comprises 53.6%. Japan’s Sony Corporation announced a new crypto hardware wallet. The wallet uses contactless technology, meaning that it doesn’t have to be plugged into a PC or mobile…

Bitcoin Price Watch: BTC/USD Closing In Towards Next Move

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Key Points Bitcoin price is trading above the $6,385 and $6,355 support levels against the US Dollar. There is a crucial contracting triangle formed with resistance at $6,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could slide towards the $6,355 support if there is a break below $6,400 and $6,385. Bitcoin price is struggling to move above $6,420 against the US Dollar. BTC/USD could react to the downside and it might even rested the $6,355 support. Bitcoin Price Analysis During the past three…

Russian Regulator Tells Financial Action Task Force Members To Control Crypto Circulation

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All member states of the Financial Action Task Force (FATF) should adopt its recommendation to control the exchange of cryptocurrency, their storage and more, Russian daily news outlet Izvestia quoted a government regulator as saying Monday, Oct. 29. The Paris-based FATF is an intergovernmental organization established in 1989 with the aim of developing standards to fight money laundering and other illicit forms of financing. Earlier in October, the FATF announced changes to its standards in regards to digital currencies and businesses involved with crypto-related activities. In its updated guidelines, the…

Cryptocurrency Exchange Coincheck Reports Over $5 Million Loss in Q3

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Coincheck, the Japanese cryptocurrency exchange that suffered a $520 million hack in January, has reported increased losses for the third quarter of 2018. Monex Group, the Japan-based brokerage firm that acquired Coincheck following the hack, released its financial results for Q3 (Q2 in the Japanese financial year) on Monday. The group’s crypto asset segment, which reflects the Coincheck business, brought in revenue of 315 million yen, about $2.8 million, between July and September. Notably, that number represents a 66 percent decline compared to the previous quarter, during which Coincheck made…

Cardano Price Analysis: ADA/USD Sliding Towards $0.070

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Key Highlights ADA price remains in a downtrend, with a solid resistance near the $0.0745 level against the US Dollar (tethered). There is an important bearish trend line formed with resistance at $0.0740 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to struggle to clear the $0.0740 and $0.0745 resistances in the near term. Cardano price extended losses against the US Dollar and Bitcoin. ADA/USD remains at a risk of more losses towards the $0.0700 level. Cardano Price Analysis After forming a…

New Report Warns Over ‘Bad’ Government Cryptocurrency Regulation

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  U.K. businesses and analysts have hit back at government plans to regulate cryptocurrencies and related technology, describing them as a “blunt instrument approach,” British daily news outlet the Telegraph reported Monday, Oct. 29. Calls to step up the level of power the country’s finance regulator, the Financial Conduct Authority (FCA), has over cryptocurrency — which Cointelegraph reported on in September — allegedly focus on consumer protection and anti-money laundering (AML) policy. Now, a joint report from the British Business Federation Authority (BBFA), venture capital fund Novum Insights, and cryptocurrency…

The Race to Replace Tether (In 3 Charts)

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The crypto market has a dominant stablecoin, make no mistake. Tether, which aims to keep its token (called tether or USDT) at parity with the U.S. dollar by backing each token with $1 in bank deposits, accounts for the vast majority of the stablecoin market by total value, exchange volume and other metrics. But the market has begun to show signs of anxiety around tether, centering on the firm’s access to banking services and its claims to have fully collateralized the outstanding tether supply. The token has not traded at…