Day: February 13, 2019

Bitcoin Will Be Digital Gold, ‘Sovereignty Should Cost a Lot’

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Mike Novogratz, a former Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital, has argued that Bitcoin (BTC) occupies a unique place in the cryptocurrency landscape. Novogratz made his remarks during an interview with Bloomberg TV on Feb. 13. Reflecting on the proliferation of crypto assets, many of which have attempted to vie with Bitcoin (BTC)’s function as store of value, Novogratz argued that: “There’s 118 elements on the periodic table, and only one gold […] Bitcoin is going to be digital gold, a place where you have…

Enterprise Ethereum Alliance Is Forming a ‘Token Task Force’

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The Enterprise Ethereum Alliance (EEA) is boarding the tokenization train. The 385-member standards body plans to form a “token task force” this year, executive director Ron Resnick told CoinDesk. The group will work on a specification for tokens that run on top of ethereum and private blockchains based on it, with business uses in mind. Notably, the task force will do this not only for assets whose units are interchangeable with one another (such as shares in a corporation, or blockchain representations of fiat currency), but also for individual tokens…

Chinese Bitcoin Billionaire Zhao Dong Believes Crypto Spring Will Come in 2020

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Chinese alleged Bitcoin (BTC) billionaire Zhao Dong believes that the crypto spring will only come in 2020. His opinion, shared in a public chat in local messenger WeChat, was cited by Chinese crypto outlet 8BTC on Tuesday, Feb. 12. Zhao Dong, who owns a substantial stake in Hong Kong-based crypto exchange Bitfinex, has recently participated in a discussion held in the chat dubbed “The Public Chain Alliance Crossing The Bulls And Bears Elite Team.” When asked about the future of BTC, Zhao Dong recalled the peak of the coin’s popularity…

Bitcoin Making Little Headway as Resistance Caps Price Gains

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View Bitcoin is struggling to cross the 50-day moving average hurdle for the fifth straight day. The repeated failure at that key hurdle has neutralized the bullish outlook put forward by Friday’s falling wedge breakout. A convincing move above $3,630 (50-day MA) would revive the short-term bullish outlook and open the doors to $3,730 – the neckline of a potential inverse head-and-shoulders bullish reversal pattern on the 4-hour chart. A violation there would confirm a bearish-to-bullish trend change and could yield a rally to $4,130 (target as per the measured…

UC Berkeley Launches Accelerator for Early Stage Blockchain Startups

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Prestigious United States public school University of California, Berkeley (UC Berkeley) has launched a 12-week accelerator program for early stage blockchain startups. The launch was reported in an official announcement published on Jan. 28. The Berkeley Blockchain Xcelerator is partly sponsored by venture capital fund Berkeley X-Lab Fund and is reportedly the result of cooperation between Berkeley Engineering’s Sutardja Center for Entrepreneurship and Technology, the Haas School of Business and Blockchain at Berkeley. The latter is a student-run organization for blockchain innovation comprised of over 100 Berkeley students — as…

South Korea’s Second Most Populous City Signs MoU With Blockchain Firm to Promote Fintech

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The South Korean city of Busan has signed a Memorandum of Understanding (MoU) with blockchain company Hyundai Pay, according to a press release published on Feb. 12. According to the announcement, South Korea’s second most populous city after Seoul and Hyundai Pay, a company that developed a blockchain platform and a cryptocurrency wallet, will cooperate in order to promote the growth of startups and jobs in Busan. The MoU specifies plans to relocate the Hyundai Pay headquarters to Busan and to create needed fintech infrastructure. The MoU also aims to…

Bad Streak for Bitcoin Exchange QuadrigaCX: Another $400k Lost

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Though from childhood we hear from everyone that it’s important to stay an optimist in any situation, for Canadian crypto exchange QuadrigaCX it may be rather difficult now when one trouble is just followed by another one. What Happened As CoinSpeaker has already reported, the exchange has faced with a risk to be sold after the unexpected death of its CEO. Let us remind, that 30-year-old Gerald Cotton died in December and now, as it is said by the exchange representatives, nobody has access to a significant amount of users’…

Bitcoin Giant BitMEX: Major Financial Crisis Could Be Several Years Away

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The economy is doing just fine, they say. No, maybe not. A growing number of economists (and notable ones at that) have begun to tout theses accentuating that the world’s economy isn’t in clear waters, in spite of the seemingly ever-rallying stock market. Bitcoin giant BitMEX’s research division broke down this subject matter on Tuesday, as it released an extensive study regarding the “anatomy” of the potentially inevitable global fiscal imbroglio. Hold on to your hats, what they wrote wasn’t all too pretty. The Impending Crisis & Bitcoin The research…

XBT Provider Admits Knowledge Gaps as It Postpones Launch Of Cryptocurrency Basket

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Swedish Bitcoin (BTC) exchange-traded note (ETN) operator XBT Provider has shelved plans to offer altcoin products due to market volatility, Bloomberg reported on Feb. 13. Speaking to the publication, XBT’s CEO Laurent Kssis revealed the company did not have an understanding of Bitcoin hard forks and related phenomena when Swedish regulators greenlighted its plans in May 2018. XBT launched the world’s first regulated Bitcoin tracker, Bitcoin Tracker One, in 2015, and has since added several related products. According to Kssis, XBT needs to better its knowledge about hard forks and…

In Industry First, Crypto Asset Manager Morgan Creek Raises Money from Pension Funds

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The $40 million investment fund of Morgan Creek will major focus on crypto investments along with other blockchain startups and token-based projects. On Tuesday, February 12, Morgan Creek became the first company in the crypto sector to secure massive funding from pension funds, reports Bloomberg. Two separate pension funds of Virginia’s Fairfox County will be pouring investment into the Morgan Creek Blockchain Opportunities Fund. These two funds include the Employees’ Retirement System and Police Officers’ Retirement System. Cryptocurrency asset management company Morgan Creek has been working since long to drive institutional participation in…