Day: April 16, 2019

Unocoin Reduces Staff by 50% Ahead of Indian Supreme Court Cryptocurrency Ruling

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Indian cryptocurrency exchange Unocoin has fired half its staff, leaving the company with 14 workers, Indian daily news outlet The Economic Times reported on April 16. Citing regulatory uncertainty in the industry, Unocoin said it had made the decision prior to a Supreme Court hearing on cryptocurrency’s legal status in India, set for July. As Cointelegraph reported, exchanges in the country have faced a moratorium on banking services since the central bank, the Reserve Bank of India (RBI), implemented a ban on dealings with crypto businesses last year. The industry…

Blockchain Is a Government Priority

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France’s Minister of Economy and Finance, Bruno Le Maire, has stated that blockchain technology is a priority for his country’s government. Le Maire made his remarks during an interview with French economics and business magazine Capital on April 15, ahead of the Paris Blockchain Week Summit from April 16-17. As proof of France’s commitment to the nascent sector, Le Maire revealed that the state plans to invest 4.5 billion euros ($5 million) in breakthrough innovations — including blockchain — in a bid to fight Chinese and American technological dominance. Aside…

Was it The Right Decision? Crypto Community and Markets React to BSV Delisting

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When Bitcoin SV forked from Bitcoin Cash in November 2018 the resultant hash war was blamed by many as the catalyst for the final dump of crypto markets down to their lowest levels for 18 months. Five months later Bitcoin SV is still causing chaos for the community and crypto markets. Did Binance Make The Right Call? The world’s largest cryptocurrency exchange by adjusted volume delisted the controversial Bitcoin SV yesterday. The imbroglio all stems from BSV creator Craig Wright’s repeated threats to organizations and media outlets who refute his…

Bitcoin SV Gets Kicked Out of Blockchain Wallet and ShapeShift

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After crypto exchange Binance’s decision to delist Bitcoin SV (BSV), anonymous exchange ShapeShift has also decided to drop the cryptocurrency, with Kraken considering to follow suit. The world’s largest bitcoin and cryptocurrency exchange by volume, Binance, has said it will de-list bitcoin SV, striking it from the exchange as of April 22 as it no longer “meets the high level of standard we expect.” The story didn’t end. On Monday (April 15), just hours after Binance announced their decision of de-listing, ShapeShift CEO Erik Voorhees said that his exchange had…

Bitcoin Loses Steam after Recent Rally but Remains above $5,000: BTCManager’s Week in Review April 15

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The price of bitcoin remained effectively unchanged at the $5,000 mark, week-on-week after the premier cryptocurrency retraced from its mid-week high of $5,421 per coin. The biggest story of the week was the attempted “doxxing” of Twitter user Hodlnaut by Bitcoin SV advocate Craig S. Wright. The attempt was met with an impromptu social media campaign by the bitcoin community called “#WeAreAllHodlnaut,” a crowdfunding effort to help Hodlnaut in his defense against Wright’s lawsuit. The campaign also generated a statement from Binance CEO Changpeng Zhao that his exchange will delist…

Rakuten Begins Registrations for Cryptocurrency Exchange Ahead of June Launch

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Japanese internet giant Rakuten has begun letting prospective users of its Rakuten Wallet cryptocurrency exchange open accounts, Cointelegraph Japan reported on April 15. Rakuten, which plans to launch the exchange in June, now offers online registration for traders, all of whom need a Rakuten user ID and associated bank account to complete the process. The company took over Everybody’s Bitcoin platform in 2018, introducing changes that allowed it to procure a license for the operation from Japanese regulators in December. Everybody’s Bitcoin had previously been cited by regulators for deficiencies…

LedgerX Set to Beat Bakkt Becoming First to Offer Physical Bitcoin Futures

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Photo: Coinspeaker LedgerX, the US provider of cryptocurrency derivatives, has announced their plans to dive into the market for physically-delivered Bitcoin futures and become the first US company to offer such a service. On Monday, the company applied for a designated contract market (DCM) license that would allow it to offer physically-settled Bitcoin futures products to its clients. Such trading firms as Bakkt, ErisX, Seed CX, and CoinFLEX have announced the same products. However, LedgerX is likely to have more chances for approval. As LedgerX co-founder Juthica Chou said, LedgerX…

Bot-Enabled Market Manipulation Rife on Decentralized Exchanges, Researchers Claim

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Arbitrage bots are being widely used for manipulative profit-making strategies on decentralized exchanges (DExes), a study from researchers at Cornell Tech has claimed. The news was reported by Bloomberg on April 15. The paper documents and gauges the breadth and specific characteristics of bot-executed market manipulation, which the researchers argue has developed blockchain-specific elements that undermine the underlying blockchain security of traded assets. Researchers identified strategies including front running — whereby traders see orders from others and place their own first, which can beset traditional financial markets. In a blockchain…

Bitcoin Price Prediction: BTC Bulls Waiting On Sidelines To Go Big

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Bitcoin price struggled to break the $5,190-5,200 resistance area and declined against the US Dollar. The price revisited the $4,940 support area and recently rebounded above $5,000. There is a crucial bearish trend line forming with resistance at $5,110 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could struggle in the short term, but bulls remain in control above $4,900. Bitcoin price is showing a few signs of weakness against the US Dollar. However, BTC bulls are likely to protect dips near the $4,940…

Crypto Market Near Decisive Support: Bitcoin Cash, Litecoin (LTC), EOS, XLM Analysis

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The total crypto market cap is currently above the key $160.0B support area. Litecoin (LTC) price is down more than 5% and it recently broke the $80.00 support zone. Bitcoin cash price performed really well after BSV was delisted from binance. EOS price failed to hold gains and traded below the $5.45 and $5.40 support levels. Stellar (XLM) price is correcting lower and it is likely to test the $0.1100 support area. The crypto market cap is near a crucial support near $160.0B, If its holds, there could be a…