Day: May 22, 2019

Crypto Merchant Bank Galaxy Digital Sells Shares in EOS Creator Block.One for $71 Mln

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Crypto merchant bank Galaxy Digital has sold its shares in EOS developer Block.one for $71.2 million. The news was announced in a press release on May 21. According to the release, the bank reportedly accepted EOS’ tender offer back in April, closing the transaction on May 20 to realize a 123% return on its initial investment. Following the deal, Galaxy Digital’s investment in Block.One no longer represents a material investment position, the press release notes.   In a statement, Galaxy Digital CEO and founder Michael Novogratz outlined that: “The acceptance…

Bitcoin SV (BSV) Dump Awaits after Mindless Rally Gained 200% Returns

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By CCN: It took Bitcoin SV just two hours grow its market valuation from $1.09 billion to $2.478 billion. There are no clarifications about how the world’s eleventh largest yet controversial cryptocurrency managed to attract approx $1.4 billion. The move just happened out of thin air, as if somebody with a big bag of money – or even cryptocurrencies – was waiting to click on the big buy button. As of 1315 UTC yesterday, the BSV-to-dollar exchange rate had established its all-time high at $195 on Huobi, up more than…

Billionaire Crypto Bull Thiel’s Block.one Seed Shares Reap 6,500% Profit

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By CCN: Block.one is returning jaw-dropping profits to its earliest investors like Peter Thiel. It’s a stock buyback of epic speed and proportions. In only three years the blockchain startup is buying back shares sold in a seed round of funding in 2017. The ROI for anyone who cashes out will be as much as 6,567%. Where did Block.one come up with all that money in so little time? It executed the biggest ICO in cryptocurrency history. The company raised $4 billion over a year-long token sale of EOS coins…

Australian Worker Faces Jail Term for Illegal Bitcoin Mining  

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Despite the fact that the price of bitcoin and other digital assets are just trying to recover from the winter of 2018, the crypto fever remains as hot as ever. Now, the Australian Federal Police (AFP) have charged a 33-year-old Sydney man for illegally mining cryptos with the federal government agency’s computers, reports local news source, ITNews on May 21, 2019. Crypto Miner Nabbed Per sources close to the matter, a 33-year-old Sydney resident has arraigned by the Australian Federal Police for using the computer systems of a federal government…

Owning Bitcoin Legal Despite Govt Trading Ban, Says Bank of China Council

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By CCN: According to Sa Xiao, a Council Member at the Bank of China’s Law Research Association, it is legal for individuals to own bitcoin in China despite the government’s blanket ban on trading. CnLedger, a recognized crypto news source based in China, said: ‘It is legal to own bitcoins in China’ says Sa Xiao, Council Member at Bank of China Law Research Association, cited by The Beijing News. Besides, Xiao considers the occasional exchange of bitcoins between individuals and individuals is legal. In September 2017, Caixin, a Beijing-based mainstream…

Israeli Court Rules Bitcoin Is an Asset

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An Israeli court has ruled that bitcoin is an asset, confirming the central bank’s stance. The case involves the country’s tax authority and the founder of a blockchain startup who argues that profits from the sale of cryptocurrency should be tax-free. The court has ruled in favor of the tax authority, endorsing the central bank’s definition of currency. Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request Latest Court Ruling on Nature of Bitcoin An Israeli central district court reportedly ruled in favor of the country’s tax authority…

PewDiePie Boosts Blockchain Streaming Platform with 67% Subscriber Spike

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By CCN: Sweden’s Felix Kjellberg AKA PewDiePie, YouTube’s most popular streamer, has been up and running on cryptocurrency startup DLive for a little over a month and is already drawing in the crowds. DLive’s subscriber numbers are already up 67% since PewDiePie joined the platform. The company has not released official numbers regarding Kjellberg’s specific impact but it’s safe to say that most of their success can be attributed to Mr. Pie’s exclusive streaming deal. Signing established streamers will be key to stealing market share from current players like Twitch.…

Bitcoin (BTC) Price Trading Sideways: Bulls Eyeing Fresh Increase

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Bitcoin price failed to gain momentum above $8,150 and $8,200 against the US Dollar. The price is slowly moving lower in a range and it could test the $7,700 or $7,660 support. This week’s followed key bullish trend line was breached with support near $7,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair may continue to trade in a range before a fresh increase above the $8,000 and $8,150 levels. Bitcoin price is struggling to climb further higher within range against the US Dollar.…

As Novo Expects Bitcoin To Kill Other Crypto Assets, Altseason Still Expected

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Crypto Legend Novogratz Expects Bitcoin To Outperform Over the past six weeks, Bitcoin dominance has surged from 53% to 58% (according to TradingView), catching many traders with their pants down. This comes as investors and analysts such as Fundstrat Global Advisors’ Thomas Lee, who frequents CNBC to convey his thoughts on cryptocurrency, have hinted that the fabled “altseason” in on the horizon. Yet, prolific cryptocurrency investor Mike Novogratz, a former Goldman Sachs partner and hotshot on Wall Street, says that there might not be a fully-fledged altseason this market cycle.…

Ripple (XRP) Price Following Uptrend: Can Bulls Take Over?

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Ripple price found a strong support near the $0.3800 level and recently moved higher against the US dollar. The price is now placed above the $0.3950 and $0.4000 levels and it could continue higher. Yesterday’s highlighted major bullish trend line is intact with support near $0.3950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair remains well supported and it could continue to rise above the $0.4100 resistance area. Ripple price is trading in a bullish zone against the US Dollar, while consolidating vs bitcoin.…