Day: March 19, 2019

Largest Swiss Online Retailer Digitec Galaxus Now Accepts Cryptocurrencies

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Leading Swiss online retailer Digitec Galaxus has announced that it will now accept cryptocurrencies, according to a press release published on March 19. Per the announcement, the shop is now accepting Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), Tron (TRX), NEO (NEO) and OmiseGO (OMG) for purchases worth over CHF 200 (about $200). The release further claims that the shop hosts around 2.7 million products, ranging from wheat beer to gaming PCs. The new payment method was reportedly jointly developed…

Bitcoin Faces Minor Price Retreat Amid Increasing Bull Exhaustion

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View Bitcoin created a doji candle yesterday, signaling buyer exhaustion near the crucial 21-week moving average (MA) resistance at $4,073. As a result, a price pullback could be in the offing in the next 24 hours. A break below $3,930 (flag support on 4-hour chart) would further strengthen the case for a pullback and expose support levels lined up at $3,890 and $3,755. The doji candle would be invalidated if prices find acceptance above $4,000 in the next few hours, confirming a bull flag breakout on the 4-hour chart. That…

Québécois Regulator Calls for Investors in Non-Compliant Blockchain Firm to Come Forward

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Québec’s financial markets regulator has asked investors in the firm Laboratoire Blockchain to come forward, now that the firm and associated individuals face a sweep of injunctive orders over their alleged violations of securities laws. The appeal was made in an official statement published on March 18. The AMF (l’Autorité des marchés financiers) states that the Québécois Financial Markets Administrative Tribunal (TMF) issued a series of injunctive orders against Laboratoire Blockchain (also known as Blockchain Lab) and three associated individuals — Jonathan Forte, Benjamin Forte and Nicolas Barbasch-Bouchard — on…

Major Crypto Exchange and Wallet Coinbase Adds Support for Stellar Lumens

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United States-based cryptocurrency exchange and wallet service provider Coinbase has added support for Stellar Lumens, according to an announcement published on March 18. The update states that users can now store, buy, and send Stellar’s cryptocurrency, the Stellar Lumen (XLM), on the Coinbase website, as well as on the Coinbase iOS and Android apps. The publication underlines that the newly added cryptocurrency will be available for the majority of the customers, with the exception of Coinbase users in the United Kingdom or in the U.S. state of New York. Last…

US SEC Solicits Feedback on Crypto Assets and Custody Rules

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The United States Securities and Exchange Commission (SEC) is soliciting industry input as it potentially reconsiders existing custody rules in specific cases of digital asset trading and settlement. The SEC launched its information gathering initiative in an open letter to Karen Barr, president and CEO of the Investment Adviser Association, on March 12. Currently, the Custody Rule (Rule 206(4)-2) of the Investment Advisers Act of 1940 determines rules that aim to protect investors who delegate custody of their funds or securities to professional investment advisors. As the letter outlines, such…

Mike Novogratz: Another BTC Value Surge is About to Happen

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Photo: QuoteInspector The latest but not the least whose voice came out of Crypto Winter is Michael Novogratz of crypto merchant bank Galaxy Digital who kept telling it from his own view. Novogratz called the market bottom days after Fundstrat’s Thomas Lee issued his latest bullish outlook for the Bitcoin price. Just for a reminder, few days ago Lee said that the “tailwinds” that had dragged bitcoin down during the current Crypto Winter are easing. Specifically, Lee said that “macro factors such as a rally in risk assets plus the US dollar no…

MakerDAO Polls Users on Fresh Fee Increase to 7.4 Percent as Stablecoin Wobbles

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Decentralized Autonomous Organization (DAO) MakerDAO (Maker) has upped its demands to increase one of its network fees, this time to 7.5 percent, the company confirmed in a blog post on March 18. Maker, which issues USD-pegged stablecoin Dai (DAI), is seeking to improve the cryptocurrency’s stability. The organization aims to do so by raising its so-called Stability Fee, a charge levied by Maker participants when Dai is used for loans on its network. As Cointelegraph reported, March had already seen a governance poll ask users to approve a fee hike…

Major South Korean Crypto Exchange Bithumb to Lay Off Up to 50% of Staff

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Major South Korean cryptocurrency exchange Bithumb is reportedly cutting up to 50 percent of its workforce, a report from CoinDesk Korea stated on March 18. According to the report, an unnamed official has confirmed that the exchange will reduce its staff from 310 (at the start of March) to around 150, and is offering a voluntary redundancy plan and training support to employees: “Voluntary retirement is part of our support program for former employees and is intended to provide assistance and training for job placement. Apart from that, [Bithumb’s] trading…

Fundstrat Expects Emerging Markets Rally To Spark Bitcoin Boom, Potentially Pushing BTC to $20k

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Emerging Market Rally To Aid Bitcoin For some reason or another, investor sentiment has begun to turn decidedly positive in the cryptocurrency market. Tom Lee, the co-founder and head of research at Fundstrat Global Advisors, added to this influx of hopium-laced messages through a piece of analysis he pushed to his Twitter following, many of which are embroiled in all things Bitcoin. Lee explained that from this perspective of his New York-based advisory outfit, emerging markets, whose value is captured through the MSCI Emerging Markets Index, pulled down BTC over…

Real Estate Giant Holding Live Luxury Home Auction for Bitcoin

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A major Australian real estate group is holding a luxury home auction that can be paid for with two cryptocurrencies. There will be a live auctioneer who will call out bids in BTC. The property owner says he wants to keep as many coins as possible. Also read: Crypto Enthusiasts Unite in 4 Indian Cities to Voice Regulatory Suggestions Live Auction for Cryptocurrencies One of Australia’s largest real estate groups, LJ Hooker, is preparing a live luxury real estate auction for cryptocurrencies with a live auctioneer. The company is working…