Day: February 19, 2019

Canadian Judge Appoints Legal Representatives for QuadrigaCX Customers

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The Supreme Court of Nova Scotia has ordered Canadian law firms Miller Thomson and Cox & Palmer to represent customers of cryptocurrency exchange QuadrigaCX in upcoming proceedings. The ruling was announced in a court filing published on Feb. 19. On Tuesday, Justice Michael Wood rendered a decision that Miller Thomson and Cox & Palmer will act as lead counsel to represent the representative committee of users of Canada’s major cryptocurrency exchange Quadriga. Specifically, the representative counsel will be responsible for “managing communications with users; acting as user liaison for the…

New Survey Indicates Businesses Unprepared to Deploy Blockchain Technology

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A new study has revealed that, while businesses are considering blockchain adoption, overall they do not feel ready to implement the technology. The survey was conducted by software development firm Globant and published on Feb. 19. The report says that 64 percent of organizations are intent on investing in blockchain solutions to improve their internal operations, while only 46 percent of respondents feel ready to deploy the technology. Out of 61 percent of organizations that are already researching blockchain, only 28 percent have chosen a blockchain provider. According to the…

Cryptocurrency Bull Run | An Improving Economy Encourages Gains

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A cryptocurrency bull run has taken hold of the entire crypto market. Digital coins have been rallying back (and then some) in recent days. The gains continue today as, according to CoinMarketCap, all the top 20 coins stay in the green. Cryptocurrency Bull Run At the time of writing, Bitcoin—the largest coin by market cap—is valued at $3,982, up 1.8% on the day. Today’s gains continue a bull run that has seen Bitcoin pack on roughly 9% in the last seven days. Now, BTC looks set to test the new price…

$8 Billion Coinbase Faces Backlash for Latest Acquisition

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Bitcoin exchange giant Coinbase has acquired Chainalysis competitor Neutrino in an effort to enhance its compliance efforts and regulatory relationships. Neutrino uses blockchain analytics to identify potential money laundering or other illegal transactions on the blockchain. Until its acquisition, it was one of a few companies growing in the space of analyzing blockchains. Its work mainly benefits crypto exchanges, regulators, and other centralized powers. According to Coinbase, companies like Chainalysis, Whitestream, and Elementus are “necessary” in an “open financial system.” “Blockchain intelligence is increasingly important in the crypto ecosystem, and is…

Crypto Expert Warns Not to Trust the Bitcoin Rally

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The bitcoin price has not bottomed yet, but it’s close — and the sooner it tanks, the better. That’s the assertion of Alex Sunnarborg, a founding partner of New York crypto hedge fund Tetras Capital. “Calling [the bitcoin bottom] is very difficult,” Sunnarborg told Forbes. “That’s part of the reason I’m really thankful that we’re in the position we are right now. “We can hedge ourselves, remain more neutral, and not have to call that exact price or timing bottom. I’m not confident right now. Our portfolio is relatively neutral. We…

Half of Millennial Investors Trust Crypto Exchanges More Than Stock Exchanges

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Nearly half of millennial traders have more trust in digital currency exchanges than in United States (U.S.) stock market exchanges. Data regarding millennial investment attitudes was collected in a new study from investment platform eToro and published on Feb. 19. Per the report, 43 percent of the surveyed millenial online traders demonstrate less trust in the traditional stock market, while having more faith in cryptocurrency exchanges. 93 percent of millennial cryptocurrency traders reportedly said that they would invest more in digital currency if traditional financial institutions proposed such an option.…

Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship

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A recent report published by the Bank of Spain states that Bitcoin is a solution for the creation of a system without censorship. This is in contrast to public comments made by most central bankers who are prone to attack cryptocurrency with little insight into why it is needed.    Also Read: Survey: ‘Blockchain’ Was Most Overrated Buzzword of 2018 Explaining Peer-to-Peer Electronic Cash to Bankers Banco de España, Spain’s central bank and supervisor of the Spanish banking system, recently published a report aiming to explain how Bitcoin works. The…

Countdown Restarts Tomorrow for SEC Decision on CBOE/VanEck Bitcoin ETF

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The U.S. Securities and Exchange Commission (SEC) may make an initial decision on not one, but two different bitcoin exchange-traded fund (ETFs) proposals by April 5. A bitcoin ETF proposal submitted (for a second time) by VanEck, SolidX and the Cboe BZX Exchange is expected to be formally published in the Federal Register Wednesday, kicking off the initial 45-day clock for approval, rejection or extension. The proposal was first posted on the SEC’s website on Feb. 13. Once the proposal is officially published, the general public will have three weeks from…

Countdown Restarts Tomorrow for SEC Decision on CBOE-VanEck Bitcoin ETF

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The U.S. Securities and Exchange Commission (SEC) may make an initial decision on not one, but two different bitcoin exchange-traded fund (ETFs) proposals by April 5. A bitcoin ETF proposal submitted (for a second time) by VanEck, SolidX and the Cboe BZX Exchange is expected to be formally published in the Federal Register Wednesday, kicking off the initial 45-day clock for approval, rejection or extension. The proposal was first posted on the SEC’s website on Feb. 13. Once the proposal is officially published, the general public will have three weeks from…

Crypto Financial Services Firm to Offer Crypto Insurance Through Lloyd’s of London

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Blockchain security firm and crypto wallet service BitGo has revealed plans to offer crypto insurance through Lloyd’s of London, according to a press release on Feb. 19. BitGo Business Wallet clients will be able to acquire insurance for their digital assets held on BitGo’s Business Wallet service and Custodial offering Assets held by either BitGo or BitGo Trust Company can insured for up to $100 million by global insurance and reinsurance market Lloyd’s, the release says. Lloyd’s had nearly $43.8 billion in gross written premiums in 2017, and has insured…