Day: June 26, 2019

Mt Gox Founder Hit With Lawsuit Over Alleged Fraudulent Misrepresentation

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Jed McCaleb, the founder of Mt. Gox, faces a lawsuit over his handling of the now-defunct bitcoin exchange. The two plaintiffs, former Mt. Gox traders Joseph Jones and Peter Steinmetz, filed a complaint with a court in California on May 19, accusing McCaleb of “fraudulent” and “negligent” misrepresentation of the exchange, which partially led to their loss of bitcoin when Mt. Gox suffered a major hack in 2014. Once the world’s largest bitcoin exchange by trading volume, Mt. Gox was breached in February 2014, which resulted in an initial loss…

Institutional Activity in Crypto Up 300% in 12 Months

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Bitcoin (BTC)’s rise to multi-month highs may be attributable to a significant uptick in institutional activity over the past year, according to a report broadcast on CNBC television on June 25.  Data from institutional crypto lender Genesis Capital — an affiliate of Genesis Global Trading — reportedly reveals a significant increase in activity from institutional counter-parties, with volumes two to three times higher than they were twelve months ago. Alongside institution-led momentum, CNBC notes that while many have attributed bitcoin’s strong price performance to market sentiment buoyed by the recent…

Square Adds Bitcoin Deposits to Their Mobile Cash App

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Square’s Cash App has enabled Bitcoin deposits for its users. The app previously offered purchasing, selling and transacting Bitcoin to other addresses. However, judging by user reviews, not all Cash App users have this feature. Just recently Square’s Cash App users started tweeting that the popular payments application has enabled Bitcoin deposits. Although many users show appreciation and gratitude, of course, just as many users say that either their apps haven’t yet got the feature, or that trusting such third parties your Bitcoin as Cash App and similar, is reckless…

CFTC Lets LedgerX Settle Futures in Actual Bitcoin

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The small US retail investors can soon buy derivatives that pay out using Bitcoins. This comes after the Commodity Futures Trading Commission (CFTC) cleared BTC derivatives provider LedgerX to provide physically settled Bitcoin futures contracts. On June 25, the CFTC said that it had approved LedgerX’s application for a designated contract market (DCM) license. That means that the company can now float new futures contracts into the market. LedgerX becomes the second company to offer these physically settled Bitcoin futures. Other firms that plan to enter this market include Seed…

 SEC Accepting Public Comments to Decide the Future of Bitcoin and T-Bills-Backed ETF

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The proposed rule change will allow Wilshire Phoenix Fund to list shares of ETF on NYSE Arca. SEC has declared that the public can comment on the aforementioned matter within 21 days’ time period. After getting the public comments SEC can make an initial ruling within 45 days, and it can extend up to 90 days, although the proposal document needs first to be issued in Federal Register before SEC starts getting inputs from the public. Wilshire Phoenix and NYSE Arca applied for the rule change proposal last month, hoping…

U.K.’s Biggest Store Tesco Pumps Bitcoin With ‘Bill Gates’ Twitter Scam

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The largest supermarket chain in the United Kingdom was left red-faced this week after hackers took over its Twitter account to promote a bitcoin (BTC) scam. The news surfaced via IT magazine Bleeping Computer on June 25. Tesco, which has almost 550,000 Twitter followers, lost control of its account and began claiming it would give away free bitcoins in return for investments. The hackers appeared to have an affinity with Microsoft founder, Bill Gates, using his avatar and changing Tesco’s handle to ‘Billgatesmsc.’ “Bitcoin is on the rise again! One…

Bitcoin Market Dominance Climbs to Over 60%

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Bitcoin’s (BTC) parabolic advance over $12,000 has taken its market dominance above 60% for the first time since April 2017, data from CoinMarketCap confirmed on June 26. Following its rapid appreciation in recent days, the bitcoin price reached levels not seen since immediately after the end of its 2017 bull run. The successes have come at the expense of altcoins, which have so far failed to produce similar performance. As a result, BTC dominance of the overall cryptocurrency market cap is now 62% – more than at any time in…

IOTA’s Coordicide, Price Up 11.2% And IoT Could Hit $318 Billion by 2023

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IOTA adds 11.2 percent Coordicide update significant for IOTA Decentralization is the central theme within blockchain circles. And IOTA is not deviating. With Coordicide, the network will be more decentralized and “inherently modular.” As a result, IOTA prices may inch higher in response. IOTA Price Analysis Fundamentals For an efficient future, there must be investment supporting the development of the Internet of Things (IoT). Regardless of one’s opinion, IoT is vital for future efficiency. Statistics reveals that the IoT as an industry was worth $130 billion by close of the…

Bitcoin Price Smacks $12.5K, BTC’s Bullish Acceleration Could Continue

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There was a sharp increase in bitcoin price above the $11,800 and $12,000 resistances against the US Dollar. The price surged above $12,200 and even traded to a new 2019 high near $12,500. There are two key bullish trend lines forming with support near $12,000 and $11,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains in a strong uptrend and it could even climb above $12,550 and $12,750. Bitcoin price surged above the main $12,000 resistance against the US Dollar. BTC price is…

Bitcoin Price Parabolic Advance Continues Past $12,000

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Bitcoin price has continued its rapid growth and on June 26 it hit $12,000 for the first time in over a year, according to Coin360. Market visualization courtesy of Coin360 Bitcoin (BTC) breached the $12,000 level early this morning after mostly trading horizontally in the $13,000-$4,000 range for the first months of the year. Press time bitcoin is trading at $12500, after having increased its value 11% over the last 24 hours. Bitcoin 1-year price chart. Source: Coin360 As Cointelegraph reported at the time, one June 22 BTC crossed the $11,000…