Day: February 4, 2019

Binance’s Crypto Winter Strategy: Build and Beef Up Partnerships

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Malta-based cryptocurrency exchange Binance has an ambitious mandate for its 400 employees in 2019: leverage industry partnerships to diversify the brand beyond its primary trading platform. Trust Wallet, which Binance acquired last summer, recently joined the Foundation for Interwallet Operability (FIO), CoinDesk has learned. The coalition includes the exchange ShapeShift, and wallet startups BRD and MyCrypto, among many others. Guided by the foundation’s instigator, a Denver-based startup called Dapix, the coalition plans to build a protocol to standardize crypto wallet addresses across currencies and platforms. Boosters say this protocol could…

Kraken Acquires Futures Startup In Deal Worth At Least $100 Million

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Cryptocurrency exchange services provider Kraken has officially acquired regulated futures trading startup Crypto Facilities in an undisclosed deal valued at least $100 million. Announced Monday, the “nine-figure” acquisition, the largest seen in the industry so far in 2019, will enable Kraken customers to trade spot, as well as open positions offering exposure to the future price movements of cryptocurrencies, all through a unified trading interface. As such, Kraken CEO Jesse Powell framed the merger as one that would “massively accelerate” his company’s roadmap, enabling the San Francisco-based startup to sidestep…

Venezuela: New Crypto Legal Framework Comes Into Force

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Venezuela’s new crypto bill, which establishes а legal framework for the industry, officially came into force on Jan. 31. The decree was published in the government’s official media outlet, Gaceta Oficial. The set of rules for miners, crypto entrepreneurs and regular traders was initially approved by Constituent National Assembly — an alternative to the country’s Parliament, created in 2017 — in November, 2018. The document titled “Constituent Decree on the Integral System of Crypto Assets” contains 63 articles. It gives short definitions of key crypto terms, such as crypto assets,…

Bitcoin Decline in February Will Mark Its Longest Bear Market

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Bitcoin has come closer to establishing its longest-running bear market, alarmed Alex Kruger. The famous cryptocurrency trading analyst said Monday that it was the first time bitcoin had entered a long period of selling sentiment in its 10-year history. In December 2017, the value of bitcoin per piece was close to $20,000. As of January 31, 2018, it was close to $3,450. That marks a circa 82% drop in 13-months. Bitcoin has never before traded more than six months in the same direction. A down February would represent seven straight…

From Ponzi Schemes to ICO Exits, Ethereum’s Blockchain Has Been the Platform of Choice for Scammers

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According to a recent report from crypto analytics specialists Chainalysis, Ethereum (ETH) has become the crypto platform of choice for scam artists. Its research suggests that 2018 saw far more sophisticated, higher-earning scams carried out using ETH, although the actual number of these crimes dropped significantly year on year. The amount stolen through ETH-based scams doubled from $17 million in 2017 to $36 million in 2018. This equates to 0.01 percent of ETH in circulation. Chainalysis identified over 2,000 scam Ethereum addresses, which have managed to secure funds from nearly…

Bitfury and Commons Foundation Partner to Launch Bitcoin (BTC) Mining Operations in Paraguay

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Back in late November, Ethereum World News notified its readers of plans by the Commons Foundation to build the largest Bitcoin (BTC) mining farm in the world. Known as ‘the Golden Goose’ initiative, the project is meant to expand cryptocurrency and blockchain innovation in Spanish-speaking countries with its first project in Paraguay. Paraguay guaranteed a 15 year stable electricity price for the mining operations. The contract signed also provided approximately 50,000 square meters for five mining centers near Itaipu Hydroelectric Power Plant, the world’s second largest clean energy plant after…

Blockchain uses in the global supply chain

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If there is one thing that is fast changing is technology, as there are always new innovations in the world of technology. However, there is a new concept which is emerging known as block chain technology and I am pretty sure if you mention this term to most people you might get a blank stare since you may be speaking of an unfamiliar topic. These kind of technology is what drives crypto currencies such as Bitcoin and not so many people are aware of this. Nevertheless, this is about to…

Twitter CEO Jack Dorsey: Bitcoin is Most Likely to Become Internet’s Single Native Currency

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Photo: JD Lasica / Flickr Bitcoin, just like most of the other major cryptocurrencies, has had a troubled start to 2019. Many analysts and commentators predict that the long-running Bitcoin bear market could run on well into most of 2019. However, not everybody is predicting gloom and doom for bitcoin. Co-founder and CEO of Twitter, Jack Dorsey, declared that he believes Bitcoin will become the internet’s native currency eventually. It is not the first time that Dorsey has endorsed Bitcoin. We reported earlier in 2018 when he stated that bitcoin…

Amazon ‘Will Have to’ Create Its Own Crypto in Future, Binance CEO Says

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One of the cryptocurrency industry’s best-known figures confirmed he still believes online retail giant Amazon cannot avoid issuing its own altcoin, in a tweet Feb. 2. Discussing the internet business sector more broadly, Changpeng Zhao — CEO of top crypto exchange Binance — said it was not so much a question of if, as of when Amazon will issue its own coin. The retail giant has made efforts to adopt forms of blockchain technology in the past, but its relationship with cryptocurrency remains tied to rumors. Such rumors periodically appear…

Bitcoin Price Charts Offer Glimmer of Hope to Struggling Bulls

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View Bitcoin has charted a falling wedge pattern on the daily chart. A break above $3,450 would confirm wedge breakout and expose the crucial resistance level lined up at $3,658 (the high of the gravestone doji candle created on Jan. 26). A violation there would expose the psychological resistance of $4,000. The prospects of a falling wedge breakout would weaken if the cryptocurrency suffers a channel breakdown on the 4-hour chart. The slow drip bitcoin (BTC) price sell-off seen over the last six weeks has produced a bullish pattern on…