Day: November 20, 2018

FAANG Stocks are Down $1 Trillion from Yearly Highs

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Twitter Facebook LinkedIn As the crypto market reels from a weeklong downturn that has forced the bitcoin price to its lowest point in almost 14 months, it appears that traditional markets do not intend to welcome investors back with open arms. Markets Erase Year-to-Date Gains Following yet another decline on Tuesday, the Dow Jones Industrial Average, S&P 500, and Nasdaq have now erased their 2018 gains heading into Black Friday weekend. The sell-off has been even more pronounced among FAANG stocks, with tech stalwarts Facebook, Amazon, Apple, Netflix, and Google…

Why Making In-App Game Purchases Using Crypto is About to Get Easier

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A blockchain-based platform that enables gamers to make in-app purchases using cryptocurrency has forged a partnership with Unity, a major game engine – giving developers the chance to unlock new revenue streams with lower fees. AppCoins offers an ERC20-compliant token which is compatible with some of the most popular wallets on the market, and is listed on the top three crypto exchanges. In a major milestone, developers who use Unity will be able to accept AppCoins as a method of payment – and the company says this could open up access…

Bitcoin Manipulation: U.S. DOJ Probes Tether and Bitfinex Amidst Price Crash

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The U.S Department of Justice (DOJ) has set its sights on Bitfinex and Tether Ltd in its probe into last year’s bitcoin price surge. The DOJ is inquiring into the possibility of market manipulation, involving the use of Tether’s stablecoin to drive up the price of Bitcoin. Renewed Scrutiny Over Alleged Bitcoin Manipulation Claims According to a Bloomberg report, the DOJ is inquiring whether Tether and Bitfinex engaged in illicit trading activities aimed at driving up the price of Bitcoin last year.  This DOJ probe is in addition to an…

Capitulation? This Bitcoin Sell-Off Still Isn’t as Extreme as 2015’s

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A total of $60 billion has been erased from the value of all cryptocurrencies over the last week, a decline that has many wondering if the ongoing bear market for the asset class has finally come to an end. Defined as a period of depressed activity and sentiment, the bear market has seen the price of bitcoin, the world’s largest cryptocurrency, decline more than 75 percent from all-time highs set in January. Further, as bitcoin makes up more than 50 percent of the entire market in terms of total capitalization, it’s safe to…

Capitulation? This Bitcoin Sell-Off Still Isn’t as Extreme as 2015’s

boss

A total of $60 billion has been erased from the value of all cryptocurrencies over the last week, a decline that has many wondering if the ongoing bear market for the asset class has finally come to an end. Defined as a period of depressed activity and sentiment, the bear market has seen the price of bitcoin, the world’s largest cryptocurrency, decline more than 75 percent from all-time highs set in January. Further, as bitcoin makes up more than 50 percent of the entire market in terms of total capitalization, it’s safe to…

Study263 Helps Zimbabweans Import Food Using Bitcoin

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Study263, a Zimbabwean-owned fintech startup operating from South Africa, has opened an online store allowing Zimbabweans to buy food hampers that are delivered directly to their homes. Shoppers have the option to pay for items like cooking oil and baked beans in BTC, Paypal or Ecocash, a local mobile money payment system. Also Read: Ivy and Hiveex Launch Ivypay to Facilitate Consumer Bill Payments in Australia As Prices Spiral, Study263 Helps Zimbabweans Import Food Using Bitcoin The southern African country of Zimbabwe, which adopted the U.S. dollar after abandoning its currency…

Tom Lee Stands by $15,000 Year-End Bitcoin Price Target

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Twitter Facebook LinkedIn Fundstrat co-founder Tom Lee stands by his reduced year-end bitcoin price target of $15,000, saying continued fallout from a market slump in tech stocks is putting pressure on cryptocurrencies. Lee’s new prediction is a dramatic drop from the bullish $25,000 price target he had set in early-2018, when the crypto market seemed poised for a major explosion. “Global markets have seen liquidity dry up, and bitcoin is not necessarily a value asset — so as growth stocks, tech, and FAANG come under pressure, it’s going to hurt bitcoin,”…

‘The Big Issue’ Newspaper Launches Blockchain Platform to Promote Impact Investing

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The Big Issue, a street newspaper sold by the homeless in the U.K. and other countries, is launching a blockchain-driven platform to promote impact investing, The Financial Times reports Monday, Nov. 18. Three investment companies — UK Standard Life Aberdeen, U.S. Columbia Threadneedle, and AllianceBernstein — will join The Big Issue as founders of the platform dubbed The Big Exchange. According to the FT, it will offer 30 to 40 social and environmental impact funds, and is set to start working within six months. The potential investors will be charged…

NYSE Operator’s Bakkt Confirms End of January Launch Date For Digital Assets Platform

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The Bakkt digital assets platform, which was created by the operator of the New York Stock Exchange (NYSE), announced in a Medium post today, Nov. 24, that they are now “targeting” Jan. 24, 2019 as a launch date. The Intercontinental Exchange (ICE), operator of 23 leading global exchanges including the NYSE, announced the creation of Bakkt in August of this year. Today’s Medium post notes that “given the volume of interest in Bakkt and work required to get all of the pieces in place,” the company has settled on the…

Insurance Giant Ping An Subsidiary to Create Boutique Bank Supported by Blockchain

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Ping An Bank, a subsidiary of China’s Ping An Insurance Group, will launch a boutique bank using blockchain, cloud services, and the Internet of Things (IoT). Ping An Insurance Group is one of the world’s leading financial and insurance corporations, and their subsidiary’s announcement was reported on Nov. 20 by People’s Daily, China’s official state run press service. A boutique bank is defined as a non-full service investment bank that supports more individualized services than larger firms. The new boutique bank will rely on Ping An Group’s scientific and technological…