Month: February 2019

Exit Scam or Mismanagement? Coinbase Digs Into QuadrigaCX’s ‘$150 Million Loss’

boss

Brian Armstrong, the CEO of Coinbase, one of the world’s largest crypto exchanges, said that the company conducted internal research on the QuadrigaCX case. QuadrigaCX has been claiming that Gerald Cotten, its CEO, passed away with sole control over its cold wallets containing $150 million in various cryptocurrencies including Bitcoin and Ethereum. However, independent researchers claimed that there is not enough evidence to prove the existence of cold wallets operated by Cotten. Armstrong also stated that balances from the QuadrigaCX cold wallets were moved out in early 2018. 1. We…

Bitcoin gift card rolls out in the US

boss

Technology firm Bitcoin Solutions has teamed up with Savvy and Chain Bytes to introduce its Bitcoin Gift Card in the US. The card can be bought online. The availability of the gift card is expected to be later extended to digital retailers and physical stores. Chain Bytes CEO Eric Grill said: “This partnership demonstrates the changing times where traditional distribution methods are being utilised to indoctrinate non-technical users of Bitcoin and cryptocurrencies to bring Bitcoin to mainstream adoption.” Mybitcards.com has integrated with Savvy, which is said to offer the new card distribution…

Third-Top Exchange OKEx Lists Ripple and Bitcoin Cash on Customer-to-Customer Platform

boss

Malta-based major cryptocurrency exchange OKEx has listed Ripple (XRP) and Bitcoin Cash (BCH) on its customer-to-customer (C2C) trading platform, according to a press release shared with Cointelegraph on Feb. 22. OKEx, the top third crypto trading market by daily trading volumes at press time, now allows users to buy or sell XRP and BCH with five supported fiat currencies: the British pound (GBP), Chinese renminbi (CNY), Vietnamese dong (VND), Russian ruble (RUB) and Thai baht (THB) on the OKEx C2C trading platform. The Thai baht was added to the OKEx…

Principality of Andorra to Implement Blockchain Tech for Digitizing Academic Degrees

boss

The government of Andorra will implement blockchain technology in the country’s higher education system, Spanish-language news outlet EuropaPress reported on Feb. 21. The Principality of Andorra, a sovereign landlocked state on the Iberian Peninsula, will digitize national higher education by implementing blockchain technology for storing all academic degrees. The initiative is aimed at creating a more secure registry processes, EuropaPress reports. Academic degrees recorded via blockchain tech can not be eliminated or modified, and the tech will also allow for the reduction of “administrative expenses derived from the current analogue…

Binance Forays Into Indonesia’s Booming Crypto Scene, a Key Emerging Market

boss

For a number of reasons, a majority of the nations in Southeast Asia have quickly become mainstays in the crypto space. Singapore, whose government has indirectly invested in Binance, is known for its array of industry startups, banks that operate in good faith with Bitcoin traders, and sector events. Thailand purportedly has one of the largest crypto investor populations in the world. And the Philippines has long been an industry hub, with proper regulation, active investors, and pro-crypto financial institutions in UnionBank. While this is great in and of itself, Indonesia,…

Binance Forays Into Indonesia’s Booming Crypto Scene, a Key Emerging Market

boss

For a number of reasons, a majority of the nations in Southeast Asia have quickly become mainstays in the crypto space. Singapore, whose government has indirectly invested in Binance, is known for its array of industry startups, banks that operate in good faith with Bitcoin traders, and sector events. Thailand purportedly has one of the largest crypto investor populations in the world. And the Philippines has long been an industry hub, with proper regulation, active investors, and pro-crypto financial institutions in UnionBank. While this is great in and of itself, Indonesia,…

Bitcoin Remains On Hunt For $4.2K Despite Price Consolidation

boss

View Bitcoin’s low-volume price consolidation has taken the shape of a bull flag on the 4-hour chart. A break above $3,930 would confirm a flag breakout and open the doors to $4,330 (target as per the measured move method). The flag breakout looks likely, as the longer duration charts are biased bullish: Monday’s high-volume triangle breakout is still valid, while a bullish crossover between the 5- and 10-day exponential moving averages (EMAs) on the 3-day chart indicates a positive shift in market sentiment. Another failure to take out $4,000 could…

Defunct Exchange QuadrigaCX Likely Did Not Plan Exit Scam

boss

The CEO of United States cryptocurrency exchange Coinbase added to theories surrounding the downfall of Canadian platform QuadrigaCX in fresh social media comments on Feb. 21. In a series of tweets, Brian Armstrong suggested the exchange, which is currently undergoing restructuring procedures and owes creditors around $190 million, did not attempt fraud. “(QuadrigaCX) was one of the oldest exchanges in existence (founded in 2013). If they planned an exit scam, it likely would have been timed better,” he summarized. Users of the now-defunct Quadriga are currently battling through the courts…

Crypto Hedge Fund Pantera Capital Seals $130 Million for Third Crypto Venture Fund

boss

Crypto hedge fund Pantera Capital has already sealed $130 million out of a $175 million target for its third crypto venture fund. The development was shared with Cointelegraph in private correspondence with Pantera president Bill Healy on Feb. 22. For Pantera’s debut fund in 2013, the firm had raised $13 million, rising to $25 million for its second. As reported in August 2018, Pantera raised the game for its third offering, saying at the time that the $175 million target was “a function of how fast the space is moving,…

Is $1,000,000 for Bitcoin Real? IBM’s VP of Blockchain Jesse Lund Thinks It Is

boss

Photo: QuoteInspector Bitcoin (BTC) continues to be the darling of global investors despite the recent crypto winter. Recently, Jesse Lund, VP of Blockchain and Digital Currencies at IBM showered praises on Bitcoin. Mr. Lund remains ultra-bullish on the future of Bitcoin in the long term. In a recent interview published by Finder.com on YouTube, Mr. Lund says that the Bitcoin price will eventually reach $1 million in the long term. He also went to say that higher the price of the crypto asset, higher will be its utility. Thus, Mr. Lund…