Day: June 27, 2019

Regtech Startup Coinfirm to Investigate XRP’s Compliance With AML Provisions

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Regulation technology startup Coinfirm will investigate how cryptocurrency Ripple (XRP) is being used, Forbes reported on June 26. San Francisco-based tech startup Ripple, which is largely behind XRP, has signed an agreement with Coinfirm, wherein the latter will explore XRP’s compliance with anti-money laundering (AML) provisions. Within the investigation, Coinfirm will reveal information such as whether XRP has been processed by a “mixer” — a technology developed to make transactions more difficult to trace and therefore easier to launder crypto — clustering, which enables a user to send small amounts…

Binance Coin (BNB) Bull Party May be Over, Flimsy Above $30

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Binance Coin (BNB) under pressure, down 4.2 percent Changpeng Zhao calls for caution After suffering an “expensive hack,” Changpeng Zhao considers exchange security as inviolable. Already fixed, Firefox could turned out to be a weak link from where hackers would have exploited Coinbase, causing loss of funds. At the time of writing, BNB is down 4.2 percent in 24 hours. Binance Coin Price Analysis Fundamentals Tagging full control and ownership, which is only possible in blockchain, is  responsibility. It is because of this sole reason that Changpeng Zhao, the CEO…

Retail Versus Institutional: The Fight for Profitability in Bitcoin (BTC)

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A CFTC report has highlighted a 14 percent increase in short positions held by institutions and big traders in the CME Bitcoin futures market. Smaller retail traders are taking the other side of this trade, leading market experts to think there may be a missing piece to the puzzle, as reported by Wall Street Journal, June 25, 2019. The Big Short According to the CFTC report, bearish sentiment has kicked in from the big players ever since BTC crossed the $10,000 threshold. In considering the parabolic manner in which BTC tends to move…

QuadrigaCX Users Lose $190M as Speculations Over Cotten’s Death Swirl

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The crypto community has recently been actively discussing the fate of QuadrigaCX’s 30-year-old founder, Gerald Cotten, who reportedly died in India from a fatal disease in December 2018. However, before the apparent passing, he took virtual keys for digital wallets and moved them into cold storage. Why did this story end so tragically, and has it truly come to a conclusion? How it all began QuadrigaCX appeared in 2013 and quickly became one of the largest Canadian crypto exchanges. The platform allowed its users to get cash or cryptocurrency through…

Overstock’s tZero Launches Mobile Crypto App Touted as Hack-Resistant

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tZero, United States retail giant Overstock’s crypto subsidiary, has launched a digital wallet and exchange app for crypto, the company officially announced in a tweet on June 27. The firm calls its new mobile crypto app a hack-resistant solution for trading and storing cryptocurrencies, tZero CEO Saum Noursalehi said in a press release to Reuters. Noursalehi explained that the application will store private keys directly on users’ smartphones, which is expected to provide maximum security, in contrast to “more vulnerable, third-party exchanges for custody.” Moreover, tZero’s private key recovery system…

Winklevoss Bros are Billionaires Again After Bitcoin’s Blowout Party

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Cryptocurrency entrepreneurs Tyler and Cameron Winklevoss have once again reclaimed billionaire status after Bitcoin soared to new 2019 highs this week. The twin brothers’ net worth ballooned to $1.45 billion according to Bloomberg’s Billionaires Index. We’ve broken the Troposphere, passing through the Stratosphere, next stop is the Mesophere on our way…to the moon! 🚀 — Cameron Winklevoss (@winklevoss) June 26, 2019 The Winklevii began the year with ‘only’ $654 million, highlighting just how deeply tied their assets are to the Bitcoin price. BTC is currently pulling back from just below…

27% of UK Residents Want to See Crypto in More Real-World Applications

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27% of surveyed United Kingdom citizens hope to see cryptocurrencies in “real-world applications,” according to recent research by U.K.-based crypto exchange CEX.io, technology news outlet BTCManager reported on June 27. CEX.io provided BTCManager the results of its recent survey focused on the level of adoption, application, and expectations of digital currencies in the U.K. The report — which was prepared in collaboration with London-based research firm qriously — highlights answers from 1,013 respondents. Per the survey, 32% of respondents said that they would like the technology to be better integrated…

Bitcoin ATMs Surpass 5,000 Worldwide as BTC Reaches New Highs

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Bitcoin ATMs around the world continue to grow and show no signs of slowing down just yet. According to CoinATMRadar, a platform that monitors the growth of cryptocurrency ATMs worldwide, the number of Bitcoin ATMs globally has surpassed the 5,000 milestone. Astronomical Crypto ATM Growth Amid Rising Prices Recent statistics reveal that the number of Bitcoin ATMs around the globe crossed 5,000. At the time of writing, the exact amount of BTC ATMs in the world is 5,016. Since the first installation in Vancouver, Canada in 2013, the number of BTC…

Can Blockchain Offer Protection for Most Personal Patient Data?

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In today’s world, the privacy of data is paramount, causing people to demand protection of their data on social media sites, for example.  But there is a far more critical sector that is not undergoing the same scrutiny when it comes to data and information – the health sector. The health sector is an interesting case study in technological disparity. On one end of the scale, there are robot surgeons, but within the same hospital, there can still be fax machines. The health sector, despite its attempts to modernize and…

Fundstrat Co-Founder Thomas Lee Says Bitcoin’s Volatility Favors a Long-Term Approach

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Fundstrat Global Advisers Co-Founder Thomas Lee suggested that bitcoin’s (BTC) volatility makes a long-term approach towards it more appropriate for most traders in a tweet published on June 27. In his tweet, Lee intended to remind others that “bitcoin is a hypervolatile asset” and that this makes it “great for volatility and other dedicated traders.” Still, he noted that most should probably use a different approach instead: “For most, taking a long-term view is more appropriate.” Lee’s remarks were an answer to a Bloomberg’s tweet pointing out that bitcoin is…