Day: October 10, 2019

Bakkt Bitcoin Futures Volume Soars Almost 800% in One Day

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In an incredible and slightly confounding turn of events, Bakkt’s bitcoin Futures volume has soared as much as 796% to a new all-time high (ATH). This is a far cry from previous volumes and a bullish sign of revival for Bakkt following its lackluster beginnings. Launching some two weeks ago, Bakkt day one performance showcased a tepid day-one volume of just 72 BTC. Given the hype and anticipation around the launch, this left a lot to be desired. Since then, the daily volume has fluctuated but showed little signs of…

Bitwise Set to File Another Application for Bitcoin ETF Following SEC Rejection

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The United States Securities and Exchange Commission (SEC), has published an official document describing its ruling on the application for a Bitcoin exchange-traded fund (ETF), filed by Bitwise Asset Management and NYSE Arca. In a not-too-surprising turn off events, the SEC has rejected the Bitcoin ETF application filed by Bitwise Asset Management and NYSE Arca and stated that there were still too many unresolved issues regarding improper activity such as market manipulation, that could easily take place in the sector. The SEC’s publication is a 112-page document, which goes into…

Hong Kong Free Press Fires BitPay Over Bitcoin Payment Delays

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Hong Kong Free Press (HKFP) has fired BitPay, a US-based bitcoin payment processing service, over non-service. The independent media firm announced today that it is going to replace BitPay with its rival BTCPay, an open-source alternative to pay merchants online via bitcoin. HKFP projected BTCPay as better service, stating that it would allow donators to remain anonymous, a feature that was missing in a more-regulated BitPay. “Help us eliminate processing fees or make a fully anonymous contribution by donating Bitcoin,” wrote HKFP. HKFP has escaped the clutches of BitPay and – with…

Bakkt’s Bitcoin Futures Trading Volume Soars 796% in One Day: Report

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The trading volume of Bitcoin (BTC) futures on the Intercontinental Exchange’s (ICE) Bakkt platform reportedly soared to 224 contracts on Oct. 9 — 796% higher than the previous day. According to the tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) — which is not affiliated with Bakkt but rather with Dutch journalist and cryptocurrency author Gert-Jan Lasterie — the 224 contracts represent an apparent all-time-high for the platform. A turnaround after tepid launch? Graph showing reported increase in daily traded volume for Bakkt Bitcoin Monthly Futures. Source: @BakktBot…

Japan Security Token Offering Association: The Way of Self-Regulation

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Security token offerings, or STOs, have more or less taken the mantle from their semi-defunct counterpart, the initial coin offering (ICO). Still, the extreme rise and subsequent fall of the ICO has left quite an impression on the cryptocurrency industry. At its peak prevalence in 2017, this novel fundraising prototype accumulated a total of $6.2 billion — but it wasn’t set to last. Come December of the same year, ICOs had become a shadow of their former selves, plummeting in demand. So far, a mere $366 million has been raised…

SEC Rejects Another High-Profile Bitcoin ETF Proposal

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Another high-profile proposal for a bitcoin exchange-traded fund (ETF) has been denied by the U.S. Securities and Exchange Commission (SEC). The agency, however, emphasized that the disapproval was not based on whether bitcoin has utility or value as an innovation or an investment. Shares of the Bitwise Bitcoin ETF Trust were to be listed on the NYSE Arca exchange. Also read: IRS Issues New Crypto Tax Guidance After 5 Years – Experts Weigh In SEC Rejects Bitwise’s Bitcoin ETF The SEC issued an order disapproving another high-profile bitcoin ETF on…

OKEx Korea Reviewing Decision to Delist Privacy Coins Zcash and Dash

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The South Korean arm of cryptocurrency exchange OKEX has halted, for now at least, the delisting of two privacy coins due to regulatory pressure from the Financial Action Task Force (FATF). According to a notice from the exchange on Thursday, the planned suspension of both zcash (ZEC) and dash (DASH) support has been put under review. OKEX first announced its intentions to delist five privacy coins – also including monero (XMR), horizen (ZEN) and super bitcoin (SBTC) – in September citing FATF’s controversial “travel rule” for crypto asset service providers,…

E-commerce Giant Overstock Opens Blockchain R&D Center in Ireland

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E-commerce giant Overstock has opened a blockchain Research and Development (R&D) center in Ireland. According to a press release published on Oct. 9, the firm’s new R&D center is located in “IDA’s flagship North West business park in Sligo” and is expected to make its 100th Irish hire before the end of 2019. Currently it employs 80 technologists. Over $1 million invested Per the release, the move has cost the company over €1 million ($1.1 million). Overstock vice-president and site lead David Kenny added: “We’re absolutely delighted with our new…

Bitcoin Price & Technical Analysis: Nothing Prevents BTC From Growing

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By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Technical analysis of the BTC/USD A massive attack may kill the BTC Bitwise is counting on a positive decision of the SEC on the Bitcoin ETF On W1, the Bitcoin keeps declining inside a correctional channel. The quotations are currently returning to 50.0% Fibo. A breakaway of the resistance level at $9850.00 may signal the end of the correction and the beginning of a new impulse of growth to the maximum of $13857.20, upon renewing which the quotations may rise to $15550.00. However,…

CME Group Expects New Bitcoin Options to See High Demand in Asia

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The Chicago Mercantile Exchange (CME) Group expects to see high demand in Asia for its forthcoming Bitcoin (BTC) options product. Tim McCourt, CME Group’s global head of equity index and alternative investment products, told news outlet South China Morning Post on Oct. 10 that the new crypto derivative product is expected to prove as popular as the exchange’s existing BTC futures. Miners will be able to hedge their costs According to the report, as much as half of the volume for CME’s current BTC futures is accounted for by Asian…