Bitcoin In Death Throes? Tether Comes Under Fire Wow. What a past 120 minutes its been for the cryptocurrency market. As Ethereum World News reported, iFinex, the operator of both Bitfinex and Tether Limited (the firm behind USDT), had come under legal pressure from a key U.S. legal entity. For those who missed the memo, here’s a recap: A document unveiled by the New York Attorney General’s (NYAG) office on Thursday has revealed that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is being sued. Per a…
Day: April 25, 2019
India Considers Complete Ban on Digital Currencies
A draft bill that would outright ban cryptocurrency is reportedly circulating among various departments of the Indian government, local media outlet The Economic Times reported on April 25. An official familiar with the matter reportedly told the Economic Times that the government has begun inter-ministerial consultations on the “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019″ draft bill. A committee consisting of the Department of Economic Affairs (DEA), the Central Board of Direct Taxes (CBDT), the Central Board of Indirect Taxes and Customs (CBIC) and the Investor…
Bitfinex Allegedly Covers $850 Million Loss With Tether Funds
The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall, according to an announcement published on April 25. Attorney General Letitia James revealed that her office obtained a court filing alleging that iFinex Inc. — the operator of Bitfinex — Tether Limited, and their associated entities were in violation of New York law in connection with activities that may have defrauded New York-based crypto investors. James stated: “Our investigation has determined…
Bitcoin (BTC) Remains the Crypto King, Both in Marketcap and Twitter Hype
A recent DataLight report found that BTC has considerably increased its popularity after the price rally it experienced a few weeks ago. According to the data analysis firm, BTC continues to be the “Crypto King” not only in terms of marketcap but also by the number of interactions it generates in social networks. Economics is a social science, and whoever understands the dynamics of society may have an approximate knowledge of the causes behind price movements and the possible consequences of a given stimulus. While this is not a strange…
In Many Ways Bitcoin is Trading at Better Levels than at the Peak of 2017
In Many Ways Bitcoin is Trading at Better Levels than at the Peak of 2017 April 25, 2019 by George Levy Bitcoin has been holding steady at a price above $5,000 USD for several weeks leading many investors to believe that we may be preparing for another bull market run. Looking behind the scenes at all the activity going on, there are many statistics which show that bitcoin is already trading at better levels than at the peak of 2017, when it was trading at close to $20,000. Also read: With…
Coinme to Expand Bitcoin Kiosk Service to More than 2,000 Locations
U.S.-based supermarket kiosk chain Coinstar, in partnership with blockchain startup Coinme, announced on April 24, 2019, that it is expanding the footprint of its bitcoin-buying service across 19 states and 2,000 locations in the country. Bitcoin Fever Continues to Surge Through the U.S. Coinme, a venture-backed fintech startup that is making it easier for people to buy bitcoin declared that it is going to ramp-up its digital currency business. The blockchain firm stated that it is going to increase the number of bitcoin kiosks across the U.S. After becoming the…
Chinese Internet Court Employs AI and Blockchain to Render Judgement
In China, blockchain technology is increasingly employed to settle court cases, local news outlet Global Times reported on April 25. Speaking at the 2019 Forum on China Intellectual Property Protection, Zhang Wen, president of the Beijing Internet Court — which was established in September 2018, and has since processed 14,904 cases — reportedly said that the court employs technologies such as artificial intelligence (AI) and blockchain to render judgement. Zhang reportedly told the Global Times that “of the 41 cases concluded [with blockchain technology] so far, parties chose to settle…
Nike to Launch Crypto Called Cryptokicks? Trademark Application Hints Yes
The crypto community has known for a while that Facebook might be issuing its own cryptocurrency. And now, it appears the online behemoth might have a little competition. Reports have surfaced that athletic apparel manufacturer Nike is thinking of doing the same. The Oregon-based company even has a name for its digital currency: cryptokicks. Nike Cryptokicks Coming Soon? On April 19, Nike filed a trademark application for ‘cryptokicks.’ The application said cryptokicks could be used by an online community. The application also describes an electronic marketplace for clothing and footwear.…
Malta’s Financial Regulator Issues Guides on Crypto Assets, Scams
Malta’s financial regulator has issued a note to the public regarding the risks of crypto assets and the possibility for scams, news outlet Times of Malta reported on April 25. The Malta Financial Services Authority’s (MFSA) new guidance note intends to warn the public about cryptocurrency investments and related risks, and educate people on how to identify and avoid scams and fraudulent schemes. The guidance reportedly outlines the most common types of digital currency-associated scams, which include fake iInitial coin offerings (ICOs), crowdfunding ventures promising higher gains which are availed…
Bitcoin Breaks Back Above $5,500, Cryptos Recover From Major Sell-Off
Thursday, April 25 — crypto markets have mostly recovered after yesterday’s significant sell-off, with Bitcoin (BTC) breaking back above the $5,500 support. All but four coins among the top 20 cryptos by market cap are in green at press time. NEO is seeing the biggest increase of almost 7%, while bitcoin SV (BSV) and tezos (XTZ) tumbled 1% and 2.25%, respectively. Market visualization from Coin360 Bitcoin is steadily growing on the day and is trading at $5,521, up 1.18% over the past 24 hours at press time. The intraday low…