Day: March 26, 2019

Another Hack Coincides with Ethereum (ETH) Price Drop, Back to $100?

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Ethereum prices bearish and likely to sink below $135 Hackers wreak havoc at Dragon EX, steal user funds Transaction volumes low but could surge as bears retest key support levels Another exchange, Dragon EX, has been breached and user fund stolen demonstrating why it is imperative for assets to be stored at cold wallets away from exchanges. Meanwhile, Ethereum (ETH) is bearish and dropping towards $135. Ethereum Price Analysis Fundamentals Unfortunately, Dragon EX, an established Singaporean cryptocurrency exchange, is the latest hack victim after an undisclosed amount of ETH was…

Bitcoin Falls Under $4,000 as United States Oil Rises

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Tuesday, March 26 — most of the top 20 cryptocurrencies are reporting slight losses on the day by press time, as Bitcoin (BTC) has fallen under $4,000 again. Market Visualization Courtesy of Coin360 Bitcoin is down over a percent on the day, trading at around $3,967, according to CoinMarketCap. Looking at its weekly chart, the current price is over two percent lower than $4,060, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap Recently, crypto bull Tim Draper has given advice to the president of Argentina to…

Binance Partners With Risk Management Firm IdentityMind for KYC and AML Compliance

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The world’s largest crypto exchange, Binance, has partnered with risk management and compliance firm IdentityMind, Binance announced in a blog post on March 26. The companies have teamed up to address data security and compliance measures for Binance’s global operations by enabling IdentityMind’s tools for Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. Samuel Lim, chief compliance officer at Binance, said that the ultimate mission of the partnership is to foster greater trust among financial institutions worldwide, while also to evolve security systems in accordance with regulatory policies in…

Bitcoin (BTC) Prices Down but Low Volumes above $3,800 Mean Bulls

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Bitcoin prices crumbling, $3,800 likely Adoption slowed down. Twitch no longer supports Bitcoin and crypto as payment Participation level shrinks in response to low prices, volume averages 6.6k By removing crypto support, Bitcoin adoption is taking a hit and partly fueling the current price meltdown. At this rate, it is likely that Bitcoin will retest $3,800, but that is dependent on participation levels. Bitcoin Price Analysis Fundamentals Twitch, streaming service owned by Amazon has silently removed Bitcoin as subscription payment options for their global audience. By 2018, the company had…

Bitcoin Isn’t a Visa Alternative, BTC Will Surpass It

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Since Bitcoin (BTC) garnered some semblance of traction, it has been touted as a viable alternative to traditional digital payment rails, like Visa, Mastercard, or PayPal. As ShapeShift Erik Voorhees said in a recent interview, BTC, unlike centralized digital monies, is free to use (accessible), borderless, and uncensorable — arguably making it a perfect substitute. Related Reading: Crypto is Not Only a Hedge Against Inflation, But a Cashless Society Too But one leading thinker and programmer in the industry has begged to differ. He claims that the crypto does (and…

Bitcoin Isn’t a Visa Alternative, BTC Will Surpass It

boss

Since Bitcoin (BTC) garnered some semblance of traction, it has been touted as a viable alternative to traditional digital payment rails, like Visa, Mastercard, or PayPal. As ShapeShift Erik Voorhees said in a recent interview, BTC, unlike centralized digital monies, is free to use (accessible), borderless, and uncensorable — arguably making it a perfect substitute. Related Reading: Crypto is Not Only a Hedge Against Inflation, But a Cashless Society Too But one leading thinker and programmer in the industry has begged to differ. He claims that the crypto does (and…

Crypto Exchange Coinbene Announces Ongoing Maintenance While Customers Suspect Hack

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Cryptocurrency exchange Coinbene, ranked 16th on CoinMarketCap by adjusted volume, has announced it is undergoing maintenance on Tuesday, March 26, as the crypto industry discusses rumors that the exchange has been hacked. The official Twitter account of Coinbene Global, @CoinBene, has responded to a user nicknamed Crypto James, who claims that his deposits have been pending for an hour and insists the exchange has suffered a hack, as the maintenance had not been previously announced. Coinbene’s reply to his tweet reads: “In order to enhance the user experience, CoinBene upgraded…

Louis Vuitton, Christian Dior Owner Develops DLT Project With ConsenSys and Azure

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French luxury goods giant Moët Hennessy Louis Vuitton SE (LVMH) is reportedly working with ConsenSys and Microsoft Azure to develop a blockchain platform for tracking its products, crypto media agency CoinDesk reports on March 26. Dubbed AURA, the blockchain-powered platform is reportedly scheduled to go live in May or June 2019 with two major LVMH subsidiaries: Louis Vuitton and Parfums Christian Dior. Louis Vuitton is French fashion house founded in 1854 and known for its signature LV logo, while Parfums Christian Dior is the perfumery and cosmetics line of other…

Over 130-Year-Old Liquor Company William Grant & Sons to Track Whiskey on Blockchain

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Premium scotch whisky brand Ailsa Bay is reportedly about to release what it believes to be the world’s first scotch whisky tracked with a blockchain-based system. Liquor-related news website The Drinks Business reported on the development on March 26. Ailsa Bay is owned by William Grant & Sons (WG&S), a liquor company founded in 1887 that, according to Crunchbase, has a yearly revenue of about $80 million. Per the report, WG&S has partnered with blockchain company arc-net to develop the new products and a system that will track the complete…

Central Bank of Korea Includes Research on CBDCs in Annual Report

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South Korea’s central bank has included a summary of research on central bank digital currencies (CBDC) in its 2018 annual payment settlement report issued Tuesday, March 26. The development of distributed ledger technologies (DLT) and crypto assets has fueled a debate over CBDCs, especially after Uruguay and Tunisia issued their own, the report reads. The Korean central bank had also conducted its own research on CBDCs while it was considering launching one earlier in 2018 — an idea that was later put aside. The report included tests of blockchain-based solutions:…