Day: September 12, 2019

Bobby Lee Takes on Hardware Wallets With New Device for 30+ Cryptos

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The founder of China’s first Bitcoin exchange, Bobby Lee, has returned to the cryptocurrency spotlight with the launch of a new wallet.  As confirmed on his social media profiles, Lee, who sold BTCC in 2018, now aims to corner the portable hardware wallet market.  Lee returns with “credit card” hardware wallet His product, Ballet, is a credit card-sized device offering cold storage of Bitcoin (BTC) and fourteen altcoins, including Ether (ETH), XRP and Litecoin (LTC). Another eighteen will be added soon, the project’s website states. Lee unveiled Ballet at the…

Switzerland Open to International Cooperation on Libra, Says Watchdog

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Switzerland’s financial watchdog says it is open to international cooperation and oversight of the way in which it regulates Facebook’s planned cryptocurrency network.  In a Sept. 12 interview with Neue Zürcher Zeitung (NZZ), Financial Market Supervisory Authority (FINMA) director Mark Branson said it was illusory to believe that a single country could regulate a project of Libra’s scope on its own. Libra ‘fits perfectly’ into Switzerland’s regulatory framework Branson argued that Switzerland’s ambitions to evolve into a major financial center would necessarily entail reputational risks and thus draw international attention:…

Seed CX’s Subsidiary Zero Hash Will Support Crypto Derivatives Transactions

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In recent news, Seed SX’s subsidiary Zero Hash announced that it will support derivatives transactions, thus opening the gates for institutions to clear derivatives on its platform. Seed CX is a cryptocurrency derivatives platform. Now with the help of its subsidiary Zero Hash, the company plans to offer bilateral crypto derivatives transactions. That way, Seed CX aims to attract financial institutions to settle derivatives on their platform. The company announced that initially, it will support back-office settlement functions for Bitcoin forwards. Later, the firm plans to add support for options…

R3 and Mastercard Team Up Mastercard to Build Overseas Payments System Build on Blockchain

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Mastercard and R3, a leading enterprise blockchain software provider, have today announced a strategic partnership to develop and pilot a new blockchain-enabled cross-border payments solution that will initially focus on connecting global faster payments infrastructures, schemes and banks supported by a clearing and settlement network operated by Mastercard. advertisement The fear cycle around blockchain is dissipating, according to Sheila Warren, Head of the Blockchain at the World Economic Forum.  “It’s exciting to see tech giants publicly owning their explorations of blockchain technology. This kind of validation should help to cement…

Bitcoin Price (BTC) Showing Signs of Continued Weakness

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Bitcoin price is moving lower and is trading well below the $10,250 resistance against the US Dollar. The price is likely to extend its decline below the $10,000 support level in the coming sessions. There is a major declining channel forming with resistance near $10,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more downside as long as the price is below $10,250 and $10,400. Bitcoin price is showing a lot of bearish signs below $10,400 against the US…

Will Binance US Opening Cause BNB Prices to Plummet?

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The world’s largest crypto exchange will be opening its US platform across most of the country next week. It has announced the listing of six crypto assets for trading but conspicuously missing from that list is its own Binance Coin. Binance.US Opens Next Week Binance stated that its US platform will be open for registration and deposits on Wednesday next week. The announcement came in a blog post yesterday but what was notable was the six initial crypto assets it has allowed. Prepare for Launch: https://t.co/AZwoBOy3iq User Registration Opens Next…

No, Bitcoin Price Is Not in a 2018-Like ‘Descending Triangle’ of Doom

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Twitter is bearish, abuzz with chatter of a descending triangle that is forming on the Bitcoin (BTC) chart and with comparisons to the descending triangle that broke down in 2018 at $6,000.  Twitter is often wrong. Let’s first define the descending triangle. A descending triangle is among the most famous classical “bearish” chart patterns used in technical analysis. It is created when price forms a descending trend line with lower highs, while a second horizontal trend line with equal lows evolves.  Strict chartists use candle wicks and require the touches…

Ripple Price (XRP) Could Breakdown Below $0.2480

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Ripple price is struggling to gain momentum above the $0.2600 resistance against the US dollar. The price is currently declining and it could continue to move down below $0.2520. There is a connecting bearish trend line forming with resistance near $0.2545 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could decline sharply below the $0.2500 and $0.2480 support levels in the near term. Ripple price is showing bearish signs below $0.2500 against the US Dollar, similar to bitcoin. XRP price is struggling to climb…

Ethereum Price (ETH) In Corrective Decrease But Likely To Bounce Back

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ETH price is slowly moving down and recently broke the $180 support area against the US Dollar. The price could soon test the $172 or $170 level before it starts a fresh increase. Yesterday’s highlighted key bearish trend line is still active with resistance near $179 on the hourly chart of ETH/USD (data feed via Kraken). The pair is still trading in a positive zone as long as there is no close below the $170 support. Ethereum price is in a corrective decrease versus the US Dollar, while bitcoin is…

BNY Mellon to Act as Transfer Agent for Bitwise’s Proposed Bitcoin ETF

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Bank of New York Mellon has been appointed to serve as transfer agent and administrator of  Bitwise Asset Management’s proposed Bitcoin (BTC) exchange-traded fund (ETF).  Bitwise amended the S-1 form that it submitted to the United States Securities and Exchange Commission (SEC) on Sept. 11. The amendment also lists major accounting firm Cohen & Company as auditor, while Boston-based legal firm Foreside Fund Services is listed as the Bitcoin ETF’s marketing agent.  Whether any of the aforementioned firms will act in their appointed regard depends on an eventual decision to…