Day: May 8, 2019

This Crypto Shot Up 27% in 1 Day after Singapore Exchange Listing

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By CCN.com: ABBC Coin, formerly known as Alibaba Coin, has posted up to 27-percent gains to reclaim its three-week high. We are pleased to announce our listing in https://t.co/CvqTzmzcqZ.Deposit and withdrawal open on 10:00, May 13 (GMT+8).Trading will start on 21:00, May 14 (GMT+8). For more information please click the link https://t.co/IRP0jOLS12#abbc #abbccoin pic.twitter.com/b83uTix0nz — ABBC Foundation (@abbcfoundation) May 7, 2019 The ABBC-to-dollar exchange rate established an intraday high towards $0.322 this Wednesday soon after BitMax, a Singapore-based cryptocurrency exchange, listed ABBC on its platform. The pair later corrected 12.19-percent lower…

Bitstamp to Expand US Operations by Hiring Former Coinbase Exec Hunter Merghart

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European crypto exchange Bitstamp has appointed a former Coinbase executive as head of United States operations, Finance Magnates reports on May 8. Bitstamp, an entrant of the top 50 crypto trading platforms by daily trading volume, has hired Hunter Merghart in a move to expand its operations in the U.S., following the recent acquisition of a virtual currency license from New York state’s financial regulator. Merghart will be based in New York and will focus on working with Bitstamps’ new and existing clients — particularly targeting institutional clients — the…

Facebook Could Double or Triple Crypto Users

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Blockchain Capital partner Spencer Bogart claimed that the crypto endeavors of social media giant Facebook could result in the cryptocurrency user base doubling or tripling. Bogart made his remarks during an interview with Bloomberg published on May 8. In the interview, Bogart confirmed that he thinks Facebook Coin — whether it will be a stablecoin or a different kind of crypto asset — will act as a stepping stone, introducing the masses to the idea of cryptocurrencies. He explained that once people own Facebook Coin: “It’s like being on the…

Bitcoin Miner Hut 8 Reveals $136 Million Losses for 2018, Eyes Market Uptrend

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Canadian bitcoin (BTC) mining company Hut 8 made almost $50 million in revenue last year but triggered total losses of almost $140 million, according to an annual earnings report released on May 6. Hut 8, which counts itself as one of the world’s largest publicly-traded cryptocurrency mining companies, saw 2018 revenue hit $49.4 million. The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) for the year was $19.3 million. Losses amounted to $136.7 million. Hut 8 currently operates 85 mining centers worldwide, with 2018’s mixed performance reflecting the fate…

Hours After $40M Bitcoin Hack, Binance Confirms Crypto Margin Support

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The past 24 hours have been extremely tumultuous for Binance, the largest Bitcoin (BTC) spot market per data from crypto startup Bitwise Asset Management. As NewsBTC reported on Tuesday in the wake of “unscheduled server maintenance,” the Malta-based cryptocurrency exchange was revealed to have lost 7,074 BTC, valued at $40 million, from its hot wallet — a sum that represents 2% of its Bitcoin holdings. In a jaw-dropping blog post penned by chief executive Changpeng “CZ” Zhao, it was divulged that “hackers”, which remain unnamed, were able to obtain a…

Bitcoin Price Rages Bullish for 4th Straight Month in 2019: Report

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By CCN.com: Whichever way you slice it the technical picture continues to look more and more bullish for Bitcoin. There is a distinct dip-buying pattern in BTC/USD, and the latest trough has been bought once again today. SFOX’s monthly cryptocurrency volatility outlook is here, and once more the fundamentals are bullish for the 4th straight month. Clear dip-buying in play as Bitcoin’s rally nears $6000- Yahoo Finance The three cornerstones of SFOX’s outlook are price momentum, sentiment and the advance of crypto as a sector. Their latest report sees strong…

Bitcoin Price Retreats But Bull Case Intact Above $5.7K

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View With prices holding above Tuesday’s low of $5,687, bitcoin remains on track for a break above $6,000. Acceptance below $5,687 would validate the bullish exhaustion signaled by a “shooting star” candle that formed Tuesday and could yield a deeper drop to the 30-day moving average (MA), currently at $5,333. The case for a deeper pullback would further strengthen if the current 3-day candle ends below $5,510. Bitcoin’s (BTC) bullish case is still intact after a pullback from 5.5-month highs, but prices must stay above key support at $5,700 to…

FBI and Israeli Police Take Down Bitcoin-Enabled Darknet Listings Site

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Israeli police and the United States Federal Bureau of Investigation (FBI) have arrested at least two men and reported others in a takedown of a bitcoin-enabled dark web listings site, the Israeli police force announced in two official tweets on May 7. The police revealed that a cross-border investigation successfully traced several suspects who allegedly founded and administered a darknet site — identified as Deep Dot Web in local media reports — which was reportedly a resource for finding illegal dark web marketplaces. Such listed sites hawk illicit goods, such…

Bitfinex Confirms Initial Exchange Offering to Raise Up to $1 Billion in Tether

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Embattled cryptocurrency exchange Bitfinex confirmed it would conduct a $1 billion so-called initial exchange offering (IEO) in a whitepaper issued on May 8. Bitfinex, which faces ongoing legal scrutiny from authorities who accuse it of losing $850 million, had hinted it would seek to sell its own tokens earlier this month. The release of a formal whitepaper reveals few changes from the original rumors, with the sale of up to 1 billion LEO tokens, each worth 1 tether (USDT), lasting until May 11. Investors will be able to use to…

Major Austrian Bank Raiffeisen Joins R3 Corda-Powered Global Trade Finance Network

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Austria’s Raiffeisen Bank International (RBI) has announced it will pilot R3’s Marco Polo blockchain network for trade finance, according to a press release shared with Cointelegraph on May 8. As previously reported, Marco Polo — which is powered by R3’s Corda enterprise blockchain platform — counts major international banks such as BNP Paribas, ING and Sumitomo Mitsui Banking Corporation as members. Other prominent bank members include Standard Chartered Bank and NatWest, according to today’s press release. RBI has reportedly been eyeing expansion in the Central and Eastern Europe market, after…