Day: March 6, 2019

QuadrigaCX Granted 45-Day Extension to Find $140 Million in Missing Crypto

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A Nova Scotia Supreme Court Justice has given defunct cryptocurrency exchange QuadrigaCX a 45-day extension to search for $140 million worth of missing crypto assets. Judge Michael Wood extended the creditor-protection deadline to April 23, which would protect Quadriga from potential lawsuits. The Canadian exchange owes a total of $250 million to its 115,000 users, out of which $140 million has been missing since the mysterious sudden death of Quadriga’s CEO, Gerald Cotten, in December. He allegedly succumbed to Crohn disease while traveling in India’s Jaipur City. Cotten was the…

Bitcoin Eyes $4K After Erasing Monday’s Price Losses

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View Bitcoin has erased losses seen on Monday with a strong bounce from the bullish 5-week moving average (MA) support of $3,703. That has raised the odds of a rally to the psychological hurdle of $4,000. A bull flag breakout on the hourly chart also shows scope for a rise to $4,040 (target as per the measured move method). The bullish case would weaken if the flag breakout ends up trapping the bulls on the wrong side of the market. A UTC close below $3,658 (Feb. 27 low) would put…

SIX Swiss Exchange Launches Ethereum (ETH) based ETP

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The Swiss Stock exchange of SIX launched its first Ethereum (ETH) based ETP on the 5th of this month under the ticker of AETH (Amun Ethereum). With this new ETP, investors have the chance of investing in the second most valuable digital asset according to market capitalization (and at the moment of writing this). AETH tracks the investment results of Ethereum and investors need no special set up to access the product. Amun holds the underlying crypto asset in cold storage equal to 100% of the value of the notes…

Japanese Banks Unite to Launch Blockchain Finance Platform Services

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Five Japanese banks have collaborated to launch blockchain-based financial services infrastructure, the finance platform confirmed in a press release on March 1. Bank of Iwate, Bank of Yokohama, Aomori Bank, Akita Bank and Yamanashi Chuo Bank will work together on the platform, dubbed “Fitting Hub.” The first service available on the platform — electronic delivery service — should launch in April, the press release notes. Previous information had given a timeline for testing to begin in July 2018 and full deployment within a year, as local news agency Nikkei reported…

MakerDAO Users Vote on ‘Stability Fee’ Increase as DAI Stablecoin Peg Wobbles

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Decentralized Autonomous Organization (DAO) MakerDao (Maker) will let users vote on whether or not to raise a fee used within its Dai (DAI) stablecoin, the organization confirmed in a blog post on Mar. 4. Dai, which is a USD-backed stablecoin, is different from Maker’s utility token, MKR, which is trading at $678 by press time. The stablecoin DAI is in part used for loans via a structure administered by Maker known as a collateralized debt position (CDP). Now, in order to correct trailing exchange rates for Dai, which have dropped…

Brutality of the Bear Market

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Binance CEO Changpeng Zhao reaffirmed his commitment to users yesterday by discussing the recent delisting of crypto assets from the platform. This took place via a live stream AMA on Twitter yesterday at 21:00 EST. In it, he covered a variety of Binance related news, including help for new projects via Launchpad, and challenges facing Binance this year. But from a broader investor perspective, his comments on failing projects brought to light a continuation of bearish sentiment. 1-Year Valuation of the Crypto Market (Source: Coinmarketcap.com) Maintaining Crypto Standards Binance maintains…

EOS, Litecoin Spike 13% in $5 Billion Crypto Boost; Can Bitcoin Surge?

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Following an abrupt short-term dip from $132 billion to $126 billion, the crypto market has almost fully recovered as Bitcoin bounced back to $3,800 and assets like EOS and Litecoin recorded 10 to 13 percent gains. Peter Brandt, a prominent technical analyst, stated that crypto assets like Litecoin have led Bitcoin higher in the past 48 hours, allowing the dominant cryptocurrency to recover from $3,690 to $3,880. $LTC leading $BTC higher pic.twitter.com/ufcaGcwWBJ — Peter Brandt (@PeterLBrandt) March 5, 2019 If major crypto assets, small market cap cryptocurrencies, and tokens are…

This Cybersecurity Pioneer Thinks Bitcoin Cannot Replace the Current Financial System

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Photo: CEBIT AUSTRALIA / Flickr Since cryptocurrencies were introduced for a wide public, there have been discussions whether they will be able to replace fiat money one day or not. Though new use cases and crypto-related products appear here and there, still it is too early to say that they are ready to take the role of fiat money. World Is Not Ready One of those who doesn’t believe that the world is ready for full adoption of cryptocurrencies is billionaire Eugene Kaspersky who is known as cybersecurity pioneer and…

Blockchain Analytics Firm Chainalysis Outlines User Data Policy Amid Coinbase Allegations

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New York-based blockchain analytics firm Chainalysis has published an official statement clarifying that it does not collect or sell users’ personal data when it provides its services to cryptocurrency exchanges. The statement was published in a company blog post on March 5. Chainalysis is one of the highest-profile firms in the blockchain intelligence industry, providing technology — such as its proprietary KYT (Know Your Transaction) tool — that enables firms, governments and law enforcement agencies to monitor blockchain transactions and track suspected illicit activities, such as money laundering or terrorist…

Bitcoin Price Watch: BTC Rally Could Extend Above $4,000 and $4,200

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Bitcoin price rallied recently and broke the $3,760 and $3,800 resistances against the US Dollar. The price ran into the most important resistance at $3,860, which prevented further upsides again. During the upside, there was a break above a key bearish trend line at $3,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently consolidating losses below $3,860, with supports at $3,800 and $3,775. Bitcoin price reversed most its losses and surged above $3,800 against the US Dollar. BTC is now facing a…