Day: September 19, 2019

Binance to Launch Fiat-to-Crypto OTC for Chinese Yuan in October

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Cryptocurrency giant Binance plans to roll out its over-the-counter (OTC) trading platform for Chinese yuan in October. Chinese market targets Yi He, Binance co-founder and chief marketing officer (CMO) announced the news at a media session on Sept. 17, as Binance confirmed to Cointelegraph on Sept. 19. According to the CMO, Binance’s new OTC onramp is scheduled to launch next month and only targets Chinese market as the current plan envisions supporting the Chinese renminbi only, a Binance spokesperson said. To date, Binance has already set up an OTC trading…

Former Overstock CEO Sells His Entire 13% Stake in the Firm for $90M

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Former Overstock CEO Patrick Byrne has sold his 13% stake in the firm for $90 million to move to gold and crypto trading. Byrne sells his entire Overstock stake in 3 days Byrne, who resigned from Overstock on Aug. 22, cashed out nearly 4.8 million Overstock (OSTK) shares, which accounts for more than 13% of the company, American financial publication MarketWatch reported on Sept. 19. According to a filing with the United States Securities and Exchange Commission (SEC), the former Overstock CEO was selling his shares at lower and lower…

BTC Won’t Be on Major Exchanges Without More Regulation

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United States Securities and Exchange Commission (SEC) Chairman Jay Clayton said that for Bitcoin (BTC) to be traded on a major exchange it needs stronger regulation. Consider the Nasdaq CNBC reported on Sept. 19 that Clayton made his remarks earlier today at the Delivering Alpha conference, where he also warned investors to be wary until Bitcoin is regulated and traded on a major exchange. Clayton said: “If [investors] think there’s the same rigor around that price discovery as there is on the Nasdaq or New York Stock Exchange… They are…

Bitcoin Fails to Regain $10K as Market Dominance Hits 6-Week Low

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Bitcoin (BTC) stayed lower on Sept. 19 after yet another sudden bout of volatility sent the largest cryptocurrency below $10,000.  Market visualization. Source: Coin360 Bitcoin lingers in four-figure zone Data from Coin360 showed BTC/USD stabilize at just below $9,900 after falling $500 in minutes overnight.  The behavior has become increasingly characteristic of Bitcoin in recent months, with long periods of sideways action interspersed with sudden moves up or down.  As Cointelegraph reported, various factors have formed suspects for the volatility, including margin trading activity on major exchanges.  Bitcoin seven-day price…

Warren Buffett has Enough Spare Cash to Buy Two-Thirds of All Existing Bitcoin – CCN.com

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Warren Buffett isn’t much of a bitcoin fan. He’s called it rat poison squared, a gambling device, delusional, and a seashell with no inherent value. But, if he wanted to, he could become the biggest bitcoin whale of them all. Buffett could buy two-thirds of the existing BTC supply… in cash. Warren Buffett’s investment firm Berkshire Hathaway reported a record $122 billion cash pile in a recent filing. That’s about two-thirds of bitcoin’s current market capitalization of $177.6 billion. Sidenote: obviously, this isn’t actually possible. Only a small portion of…

LiquidApps’ Year-Long Token Sale Shows IEOs Aren’t the Only Way to Raise Funds

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While initial exchange offerings have been catching the limelight, one crypto project has been quietly yet successfully raising funds for months. LiquidApps, an EOS scaling solution, has earned commendation for its less FOMO-filled approach to fundraising. The second-layer blockchain project is believed to have raised $2.8 million so far, and was praised this week in a Coindesk editorial which noted: “LiquidApps has put out a much more real product than vastly larger ICOs that ended long ago.” That product has included the provision of resources to dApp developers who can’t…

Bitcoin Price Loses $500 in Minutes to Plunge Under $10K

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Many commentators predicted a downside Bitcoin move and they seem to have been correct all along as BTC price lost 5% in an hour. The drop moved BTC nearer to the 20 moving average as volume continues to taper off. The past few days have seen the price of Bitcoin hovering above the 20 Moving Average (MA). Following an entire week of consolidation in a tight channel, the price of Bitcoin finally made a move on September 18. Many commentators predicted a downside move and they seem to have been…

European Commission Releases New Support Paper on Blockchain – Further Funding for Startups Encouraged

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The Joint Research Centre at the European Commission has just published a new Blockchain tome (128 pages) called ‘Blockchain Now And Tomorrow – Assessing Multidimensional Impacts Of Distributed Ledger Technologies’  in order to help Brussels politicians with the European policymaking process when it comes down to Blockchain. The EC has taken a holistic approach and is aiming to position Europe at the forefront of blockchain innovation and uptake.  advertisement Overall the report avoids the FUD normally associated with blockchain technology vis-à-vis cryptocurrency and remains positive – pushing for more funding…

United Arab Emirates Ministry of Health Launches Blockchain System

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United Arab Emirates’ (UAE) Ministry of Health and Prevention (MoHAP) launched a blockchain system for recording and sharing information of healthcare workers in health facilities. The official news agency of the UAE reported the development on Sept. 18, noting that the system aims to improve data integrity. A healthcare data sharing solution Per the report, the platform will “save and share the assessment information of health professionals, including doctors, pharmacists and technicians with local licensing health authorities.”  Assistant under-secretary of the Support Services Sector, Awad Saghir Al Ketbi, offered some…

Ethereum Tests 25% Capacity Increase as Network Fees Hit Bitcoin Level

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Ethereum network participants are attempting to raise the network’s block size as a direct response to network congestion. Gas limit on course to become 10 million per block As various parties including co-founder Vitalik Buterin confirmed this week, testing is currently underway to improve network performance and reduce transaction fees.  “Given the current #Ethereum network congestion we have started to test raising the block gas limit to 10M gas,” mining pool Bitfly tweeted on Sept. 14. The move follows considerable upticks in Ethereum network usage, largely due to stablecoin Tether…