Day: January 11, 2019

OTC Volume of Bitcoin is Rising: Are Institutions Buying?

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While over-the-counter (OTC) and dark pool trading is a lesser-known branch of the crypto tree, this subsector has quickly become a hot topic for institutions with a growing penchant for Bitcoin. Recent data from a leading crypto-centric OTC desk has only corroborated this fact, making it apparent that capital enters cryptocurrencies via mediums other than spot exchanges. Crypto OTC Offerings Boom Amid Bitcoin Plunge Genesis Trading, one service provider arm of the Digital Currency Group conglomerate, recently released a year-end report to its clientele via email. Per up-and-coming news outlet The…

Huobi Global’s US-Based Strategic Partner Crypto Exchange HBUS Rebrands as Huobi

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HBUS, the United States-based strategic partner of China-born crypto exchange Huobi, has announced the rebranding of its retail trading service from HBUS.com to Huobi.com. THe rebranding was shared in a press release with Cointelegraph on Jan. 11. As reported, HBUS launched as a strategic partner of Huobi Group — the operator of the flagship Huobi Global crypto exchange — via a newly created San Francisco-based company “HBUS Holdco, Inc.” last June. The latter will reportedly continue to operate the platform after its rebranding. Under the new licensing agreement, HBUS.com will…

US Stocks Rise on Positive Trade Talks with China; Bitcoin Cautious

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The US stocks opened Wednesday on a higher note as President Donald Trump signaled positive outcomes of their trade talks with China. The Dow Jones Industrial Average jumped 0.5 percent to 23902 points after adding 115 points while the S&P 500 gained 0.3 percent. The Nasdaq Composite Index surged by 43.2 – or 0.6 percent – to 6941. The jump marked the market’s fourth consecutive upside session – the first time since Sep 14 – correcting 9% from its Dec 24 lows. However, the market remained 11% down from its…

NASA Publishes Proposal for Air Traffic Management Blockchain Based on HyperLedger

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The United States National Aeronautics and Space Administration (NASA) has proposed an air traffic management blockchain, according to a paper published on the agency’s official website on Jan. 10. The proposed system would employ an open-source permissioned blockchain to enable secure, private and anonymous communication with air traffic services. The document notes: “This framework features certificate authority, smart contract support, and higher-bandwidth communication channels for private information that may be used for secure communication between any specific aircraft and any particular authorized member.” The engineering prototype of the system reportedly…

Coinbase is Pivoting Away From Wall Street Crypto Push

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Institutional this, institutional that — the narrative that Wall Streeters are going to pick Bitcoin off its feet has become a rallying cry for many of crypto’s most fervent optimists. However, a damning report claims that the unrelenting push for institutional participation from Coinbase has begun to relent, albeit only slightly. Related Reading: Wall Street Still Throwing Billions At Bitcoin, But There’s Still A Ways To Go Coinbase Drops Talent Amid Seeming Strategy Shift In October of 2018, NewsBTC reported that Coinbase, the San Francisco-headquartered crypto innovator, saw its fifth hired…

Overstock’s Security Token Trading Platform to Give Investors Control Over Token-Holdings

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The security token exchange subsidiary of e-commerce retail giant Overstock, tZero, has started releasing control of its tokens, according to a letter to investors released on Jan. 11. Last August, the subsidiary had announced that its security token offering would close, having raised $134 million out of the maximum amount of $250 million previously specified. In June 2018, tZero had also signed a letter of with investment company GSR Capital for the purchase of $160 million in tZero Security Tokens. According to tZero CEO Saum Noursalehi’s letter, investors now have…

Two Alleged Ethereum ‘Scam Forks’ Appropriating Users’ Private Keys, Report Finds

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Altcoins Ethereum Nowa (ETN) and Ethereum Classic Vision (ETCV) are reportedly appropriating the private keys of users trying to redeem their allegedly forked coins. The suspected scam was covered in a report sent to Cointelegraph by the Guarda Wallet development team on Jan. 11. The official website of the Ethereum Nowa project — which doesn’t contain a white paper — describes the process that users are supposed to engage in to obtain ETN. According to the website, the user should first send ETH to an address, and then export the…

Bitcoin Price Looks South After Worst Daily Loss Since November

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Bitcoin’s (BTC) price saw its biggest drop for seven weeks on Thursday, weakening the prospects of a bullish breakout above $4,100. The world’s largest cryptocurrency by market value hit a 3.5-week low of $3,503 yesterday, before closing (as per UTC) at $3,627 – down 9.4 percent on the day. That was the biggest single-day drop since Nov. 24 and the fourth biggest daily loss of the last two months, according to CoinDesk’s Bitcoin Price Index (BPI). Essentially, the hard-fought gains of the last two weeks have been erased in the…

Bitwise Applies for the New Physically Held Bitcoin ETF with SEC

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Photo: Bitwise The company has filed an initial registration form proposing the Bitwise Bitcoin ETF Trust with the U.S. Securities and Exchange Commission (SEC). The fund would track the Bitwise Bitcoin Total Return Index, which measures the value of Bitcoin plus any “meaningful hard forks.” If the ETF is approved, its shares will be listed on NYSE Arca, which focuses on trading stocks and options (rather than large-cap stocks, which are traded on the New York Stock Exchange). From Bitwise they said: “The proposed ETF differs from previously filed proposed…

Vinny Lingham Forecasts Bitcoin Price for Two Months Trading Between $3,000 and $5,000

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Vinny Lingham, CEO of blockchain identity platform Civic, has revised down his short-term Bitcoin (BTC) price prediction on Jan. 11, telling financial news network Cheddar that the cryptocurrency could fall below $3,000. In an interview, Lingham, who had previously forecast BTC/USD to trade between $3,000 and $6,000 in the coming months, said the market would either “breakout or breakdown.” “The reality is it’ll probably trade sideways between $3,000 and $5,000 for another month or two while it’s trying to find which way to go,” he said, adding: “When it finds…