Day: June 27, 2019

House Reps Question FinCEN Director on Libra’s Potential for Illegal Usage

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Director of the Financial Crimes Enforcement Network (FinCEN) Kenneth Blanco briefed several members of the United States House on the potential for Libra’s use in money laundering, illicit financing, and other illegal activities, according to a press release from Representative Emanuel Cleaver II. Leading the meeting were Reps. Cleaver, Trey Hollingsworth, Bill Foster, and French Hill, all members of the Committee on Financial Services. Rep. Cleaver, chairman of the Subcommittee on National Security, International Development, and Monetary Policy, said in his statement:  “With the evolution of virtual currencies and new…

The Big Short Backfire: Bitcoin Pessimists See Massive Liquidation as Price Goes Parabolic

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Bitcoin short traders are seeing massive liquidation as the underlying asset continues its relentless parabolic advance. Meanwhile, analysts predict even higher returns for BTC in 2019 as the general market sentiment remains firmly bullish. Short Squeeze Amid Parabolic Advance Tweeting earlier in the week, Binance CEO Changpeng Zhao revealed that its first margin liquidation saw a hemorrhaging of bitcoin short positions. With price continuing to set new 2019 highs, it is unsurprising to see bets against bitcoin being liquidated on contract close-out. We had our first Margin liquidation today. Guess…

Seychelles to Host First Regulated Tokenized Security on a National Stock Market

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Seychelles-based securities exchange MERJ will purportedly list the first regulated security token on a national stock market, according to a report by Bloomberg on June 25. As per the report, these security tokens are digital asset shares that will trade alongside stock for MERJ Exchange Ltd, the company behind the MERJ exchange. The report notes that no specific date has been given for a planned listing, but the MERJ website says that it will add markets for security tokens, digital assets, and hybrid options in H1 2019. According to its…

Stop Blaming Coinbase for That Bitcoin Price Collapse

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The rumor on the street is that Coinbase succumbing to technical difficulties led to a significant $1,400 drop in the price of Bitcoin across the entire global cryptocurrency market. If this is remotely true, that would mean too much of the crypto market relies on a single outlet. But can it be? Or did bears simply seize on the opportunity? Coinbase Was Offline, So How Can They Get the Blame? Every rise has its ups and downs on the way up. That’s just the way the market works. You can’t…

Bitcoin Will Stabilize Between $10,000 and $14,000

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Galaxy Digital founder and crypto enthusiast Mike Novogratz has predicted that Bitcoin’s (BTC) price will stabilize between $10,000 and $14,000, in an interview with CNBC on June 27. Delivering his comments on CNBC’s Squawk Box show, Novogratz forecast that the leading digital currency will consolidate in the corridor between $10,000 and $14,000. Referring to Facebook’s entry into crypto with Libra, Novogratz said: “One of the largest companies in the world said we believe in cryptocurrencies. […] If you’re an institutional investor who’s getting close and still worried about investing, it…

Some Idiot Paid $5,000 for Ethereum Yesterday

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Ok, maybe we should have seen yesterday’s bitcoin price crash coming. Let me rephrase that: I should have seen yesterday’s bitcoin price crash coming. Here’s why: I watched some idiot buy ethereum at $5,000 in real-time. So I don’t know why I was so surprised when, just a few hours later, the bitcoin price began a vicious 20% plunge. Let me back up and explain exactly what happened. The $5,000 Ethereum Buy: An Origin Story US retail investors can now purchase ethereum-backed shares on an OTC stock market. | Source:…

Brimhall Foods to Deliver Products Through Blockchain-based Ordering System

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United States-based snack food company Brimhall Foods has partnered with Surge Holdings to deliver its BRIM’S products through a blockchain-based ordering system, according to a report by Foodprocessing-technology.com on June 27. According to the report, BRIM will be able to use the SurgePays blockchain network to access tens of thousands of new stores. Surge Holdings CEO Brian Cox says that BRIM will initially offer 15 products through its SurgePays blockchain network. Additionally, Cox remarks that these products can be ordered and replenished by their in-network convenience stores, corner markets, and…

Gemini Exchange Expands into Windy City to Capture Institutional Wave

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Gemini, the cryptocurrency exchange launched by Cameron and Tyler Winklevoss, has expanded its footprint into Chicago. A Gemini spokesperson told CCN that they are “opening [the new office] with five employees.” One of them, Andrew Page, appears to have been poached from Coinbase, base on his LinkedIn profile. Page spent one month as senior product manager at Coinbase – from March till April 2019 – in Chicago and has most recently been named product manager at Gemini. According to a post by Page, Gemini is hiring: “I am very excited…

Altcoins Bleed as Bitcoin (BTC) Falls to $10,600, Down 18% in 24 Hours

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Altcoins Beat a Hard Retreat Ouch. After a jaw-dropping rise, Bitcoin and altcoins are beating a hard retreat. In the past 24 hours, BTC, according to Coin Market Cap, has lost some 17% — a collapse that must be reminiscent of last year’s brutal bear market. While Ethereum and XRP are down by similar percentages, Bitcoin market dominance has begun to rally. Hard. In fact, as spotted by a number of analysts, this statistic, which measures how much of the total market capitalization is Bitcoin, is reaching levels not seen…

Over 22,000 Traders Have Now Signed up to Local.Bitcoin.com

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People from all over the world have opened accounts to trade bitcoin cash anonymously and without any KYC on Local.Bitcoin.com. Almost 1,000 BCH has already been exchanged privately through blind escrow via the new platform. Also Read: Namecheap Lets You Buy a Domain and Host Your Website With BCH Userbase on Local.Bitcoin.com Grows Rapidly Local.Bitcoin.com, the privacy-focused peer to peer global marketplace for trading bitcoin cash (BCH), was only officially launched on June 4. Since then over 22,000 people have already signed up to open accounts on the service and…