September 25, 2019

ECB Exec Says Libra Could Address Failings of Global Payments System

September 25, 2019 boss

Facebook’s Libra has pushed central banks to consider two major issues in global payment systems, an exec at the European Central Bank (ECB) said. Benoit Coeure provided his remarks at a hearing at the Committee on the Digital Agenda of the German parliament on Sept. 25. According Coeure, an ECB board member and chair of the Committee on Payments and Market Infrastructure, global payment systems still lack access and efficiency of cross-border retail payments. As such, 1.7 billion adults globally have no access to basic payment services despite 1.1 billion of…

Daimler Conducts Transaction on Marco Polo Trade Finance Network

September 25, 2019 boss

Mercedes-Benz parent company Daimler AG and mechanical engineering firm Dürr AG have conducted a pilot transaction on blockchain software firm R3’s Marco Polo trade finance network. According to a press release published on Sept. 25, the transaction between Daimler and Dürr included the order and delivery agreement from Dürr’s subsidiary Schenck, wherein the payment was secured by a conditional payment commitment by the buyer’s bank. Marco Polo founding member LBBW provided the financing and payment commitment. Once the equipment was delivered, the system automatically uploaded the order fulfillment information and adjusted…

Brazilian Securities Regulator Bans Bitcoin, Forex Broker

September 25, 2019 boss

The Brazilian Securities Commission (CVM) has banned a forex broker offering Bitcoin (BTC) options, Cointelegraph Brasil reported on Sept. 25. On Sept. 25, CVM published a public warning of irregular action concerning XM Global Limited through the Superintendent of Market and Intermediary (SMI) Relations. In its warning, the CVM states that XM Global Limited is not authorized to operate in Brazil or deal with customers residing there. The CVM ordered the immediate suspension of investment offerings in the forex or derivatives space. If the condition is not met, the firm…

Appetite for Bitcoin Futures Is Growing

September 25, 2019 boss

After all the fanfare, fevered anticipation, and breathless media coverage, Bakkt’s launch of bitcoin futures on Monday was a damp squib. Despite the rollout of physically delivered BTC futures going without a hitch, volumes were low, while the less said about bitcoin’s price in the aftermath, the better. Despite this inauspicious start, however, there is cause for confidence in the future of bitcoin futures. Also read: Panic at 137 Bank Branches as RBI Limits Withdrawals to ₹1,000 Never Mind the Bakkt Lapse Whether it was priced in to begin with,…

Multiple Timeframes Show Macro Bullish Trend Intact

September 25, 2019 boss

Bitcoin price made a strong downside move yesterday, dropping nearly 16% from the daily open at $9,691 to a new local low at $8,164. In doing so, price broke strong support at $9,090 and exited the range that it has been trading in since June. Bitcoin’s price action remains bearish below this range. BTC/USD Daily Chart. Source: TradingView Keep an eye on the patterns There were three patterns widely identified by traders on the Bitcoin chart — the descending triangle, descending channel and bull pennant. Bitcoin bears pointed to the…

Online Lender SoFi to Launch Bitcoin and Ethereum Trading Next Week

September 25, 2019 boss

Online lender SoFi announced its crypto trading platform will go live next Tuesday. Bitcoin, ethereum and litecoin will be the first digital assets available to trade on its SoFi Invest platform, CEO Anthony Noto told Fortune in an interview published on Wednesday. With the new platform, SoFi joins a number of digital-first trading firms – including eToro and Robinhood – to enter the crypto market. Noto said cryptocurrency trading option has been long-requested by his firm’s clients. The firm targets millennial investors through its student loan consolidation service. Coinbase was tapped…

The 5 Biggest Losers of Tuesday’s Crypto Carnage

September 25, 2019 boss

The massive triangle that formed in Bitcoin since late June finally resolved itself on Tuesday as the flagship crypto nosedived toward the $8000 handle. Bitcoin typically leads the market and altcoins were in no mood to buck the trend as a massive exodus ensued coinciding with a less than stellar Bakkt launch. So who are the biggest losers from the carnage? We decided to take a look at the top 5 major cap fallers and to separate the riff from the raff, we filtered coins with a market capitalization of…

The 5 Biggest Losers of Tuesday’s Crypto Carnage

September 25, 2019 boss

Fold App Raises $2.5M to Bring Bitcoin Lightning Payments to Starbucks

September 25, 2019 boss

The Fold app, a mobile shopping app that supports Bitcoin’s Lightning Network enabling users to withdraw funds to an external Bitcoin (BTC) wallet, has raised $2.5 million and added a fiat currency payment option. In a Sept. 25 blog post, Fold’s editor, Will Reeves, informed the public that the app’s users can now spend both fiat currency and Bitcoin at online and in-store retailers by synchronizing their credit card or Lightning wallet. Fold has also enabled its users to stack sats when making purchases with fiat and Bitcoin at major…

Bitcoin Tailed US Stock Market’s Declines on Tuesday: Greenspan |

September 25, 2019 boss

Bitcoin coincidentally formed a positive correlation with the US stock market on Tuesday, observed Mati Greenspan of eToro. The senior market analyst noted that the benchmark cryptocurrency plunged by more than $1,500 right after the S&P 500 index made a similar move. He recognized the zero correlation between the two extremely polarized markets but added that them moving in tandem was an extraordinary coincidence. Excerpts from his tweet published today: “Plunge in the US stock market (orange line) proceeded the bitcoin breakout (blue). I know it’s an uncorrelated asset but…