Day: May 2, 2019

Grayscale Launces New Pro-Bitcoin Ad Campaign

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Grayscale has launched a new pro-bitcoin TV ad campaign urging investors to shun gold from their portfolio and replace it with bitcoin to avoid the debt cycle and hyperinflation challenges. Questions arise, is it better to hoard bitcoin or gold? Grayscale has decided to make the case for Bitcoin. The cryptocurrency company has launched an unprecedented multi-million dollar marketing campaign that features a year of national TV commercials. They have labelled the campaign, “Drop Gold.” This marketing kicked off on May 1 and it includes a 39-second commercial. The commercial…

Three Price Hurdles That Could Complicate a Bitcoin Rally to $6,000

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View Bitcoin is looking north, having closed above the 21-month exponential moving average (EMA) on April 30. Forcing a quick rally to $6,000, however, may be difficult for the bulls, as a number of key resistance levels are lined up in the $5,400–$5,900 range. The short-term outlook will remain bullish as long as the price is holding above the 30-day MA at $5,199. Bitcoin, however, risks falling back to that level in the next 24-hours, according to the short duration charts. A close below the 30-day MA would boost the…

London Stock Exchange CEO Is Certain That Blockchain Can Be Used in Issuing, Settlement

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The CEO of the London Stock Exchange (LSE), one of the world’s oldest stock exchanges, believes that blockchain could have a use in issuing securities and settlement. CNBC reported on the CEO Nikhil Rathi’s comments on May 2. Speaking in an interview, Rathi noted that distributed ledger tech (DLT) could potentially play a role in the United Kingdom’s stock market. Specifically, Rathi expressed confidence about blockchain applications used in the issuance process, adding that he can also see the technology also being used for settlement. The stock exchange’s CEO emphasized…

Square Cash’s Bitcoin (BTC) Sales Go Parabolic, Signals Renewed Crypto Hype

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For Bitcoin (BTC) investors outside of the U.S., the names “Square” or “Cash App” might not ring a bell. For American crypto diehards, however, Square’s flagship product, the BTC-friendly Cash App, has been all the rage. The fintech startup’s financial report has revealed that Bitcoin sales on the application have breached new records quarter-over-quarter, despite the bear market. Related Reading: Square’s Crypto-Friendly Cash App is the Most Downloaded Financial Application on Play Store Bitcoin Volume Explodes On Square’s Cash On Tuesday, Square released its quarter one of 2019 earnings report.…

80 Firms Including MasterCard, Coinbase Spent $42 Mln Lobbying Crypto, Fintech Issues in Q1

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Around 40 entities lobbied for bitcoin (BTC) and blockchain-related causes in the United States in Q1 2019, political news site Roll Call reported on April 30. Citing data from the Federal Electoral Commission, the publication stated that around half of the 80 lobbying entities included cryptocurrency-related items, with total quarterly lobbying expenditure reaching over $42 million. Among the biggest spenders who included crypto were accounting giants Ernst & Young and Accenture, while the biggest of all was the U.S. Chamber of Commerce, which accounted for $16.4 million for fintech lobbying…

Blockchain Will Revolutionize 300 Years of Stock Trading: London Stock Exchange

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By CCN.com: The London Stock Exchange (LSE) is weighing the benefits of using blockchain technology for issuing stock and settling trades. In an interview with CNBC, the LSE chief executive Nikhil Rathi said he was inspired by early blockchain initiatives at other stock exchanges, and sees the benefit of distributed ledger technology: “You can certainly see distributed ledger technology having an application in the issuance process… I can see that technology being used in settlement too.” LSE, the world’s sixth-largest stock exchange, has been surprisingly open to blockchain technology. Earlier…

Crypto Exchange Bitfinex Shareholder Claims Imminent IEO Will Offer $1 Billion in Tokens

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Crypto exchange Bitfinex shareholder Zhao Dong has revealed details of the company’s reported plans to issue a native exchange token, which he claims will launch via a $1 billion initial exchange offering (IEO) in the coming days. According to a report from crypto news outlet CoinDesk on May 1, the Chinese bitcoin (BTC) billionaire posted to a public chat on local messenger WeChat on Wednesday, outlining that the sale will offer a total supply of 1 billion tokens, priced at $1 apiece, with a minimum buy-in of $1 million. Zhao…

Singapore and Canada Central Banks Complete First Cross-Border Blockchain Payment

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The central banks of Singapore and Canada have successfully used their blockchain networks to send each other digital currency, a joint press release confirmed on May 2. As part of the distributed ledger technology (DLT) projects being pursued by both banks, the Monetary Authority of Singapore (BAS) sent funds to the Bank of Canada (BoC) without a third party. The process was made possible by linking up two DLT networks: MAS’ nascent Project Ubin platform and BoC’s Project Jasper. JPMorgan and accounting giant Accenture, which assisted in the development of…

7 Best Bitcoin Wallets [Infographics]

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Bitcoin, the king of cryptocurrencies by market cap, is extremely popular nowadays. However, it is not the currency that we can put inside our wallets or just give to a bank. The way of its storage is completely different. Bitcoin wallet is a tool that helps the user to manage Bitcoins easier. It is an optimal solution for people who deal with Bitcoin operations every day be it storage, transactions or withdrawals. The wallet itself does not hold the virtual currency. It is usually used to store private keys (secret…

Blockchain Hype Turns to Mainstream Adoption in Billion-Dollar Corporations

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By CCN.com: Forty percent of senior finance executives expect their firms to invest in blockchain technology over the next two years, according to a recent survey by audit firm Grant Thornton LLP. That’s in addition to the 22 percent who report their firms have already implemented the technology. This marks a dramatic change from only a year ago, when blockchain was more talked about than practiced, according to Chris Stephenson, Business Consulting principal at Grant Thornton LLP and author of the report. In its 2019 CFO Survey, Grant Thornton along…