Day: October 16, 2019

Bitcoin Underperforms as Investors’ Focus Remains on Brexit

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Bitcoin was trading in negative territory on Wednesday as a broader market focus remained glued on Brexit and other critical macroeconomic events. Bitcoin price slips as speculators/investors shift focus elsewhere | Image credits: TradingView.com The benchmark cryptocurrency slipped 0.12 percent to trade at $8,152.92, continuing its choppy actions seen after the last significant drop on September 24. The lack of upside bias in the bitcoin market was visible in the performance of rival cryptocurrencies. Almost all the top altcoins surged slightly against bitcoin on Wednesday, indicating traders’ conflict. Bitcoin SV,…

Bitcoin Underperforms as Investors’ Focus Remains on Brexit

boss

Bitcoin was trading in negative territory on Wednesday as a broader market focus remained glued on Brexit and other critical macroeconomic events. Bitcoin price slips as speculators/investors shift focus elsewhere | Image credits: TradingView.com The benchmark cryptocurrency slipped 0.12 percent to trade at $8,152.92, continuing its choppy actions seen after the last significant drop on September 24. The lack of upside bias in the bitcoin market was visible in the performance of rival cryptocurrencies. Almost all the top altcoins surged slightly against bitcoin on Wednesday, indicating traders’ conflict. Bitcoin SV,…

Bitcoin Price Falls Under $8K With ‘Ugly’ Scenarios on All Timeframes

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Bitcoin price (BTC) fell below $8,000 in fresh choppy trading action on Oct. 16, after several days of slow grind ended in a bearish turn. Cryptocurrency market daily overview. Source: Coin360 Bitcoin greets midweek traders with $300 dump Data from Coin360 shows the largest cryptocurrency put an end to its sideways trading style on Wednesday, falling several hundred dollars in minutes. Markets at first rejected a more precipitous fall, with some exchanges showing Bitcoin reversing at exactly $8,000.  At press time, those levels had given way again, under pressure while…

New Partnership Launches Gold-Pegged Stablecoin DGLD on Bitcoin’s Blockchain

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A group of crypto and precious metal companies formed a consortium and launched a first-ever Gold-backed digital currency with the ticker DGLD on the Bitcoin blockchain. Europe’s largest crypto assets manager CoinShares, with the leading provider of cryptocurrency products including the world’s most popular crypto wallet, Blockchain Luxembourg S.A., and the Swiss gold trading firm MKS have joined hands to launch a gold-backed digital currency (stablecoin). The consortium has been developing the DGLD network for more than two years and at last, they have digitized more than $20 million worth…

Bermuda Becomes First Gov’t to Accept Tax Payments in USDC Stablecoin

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Global financial services company Circle announced that Bermuda became the first government to accept its stablecoin USD Coin (USDC) for tax payments. Part of a broader government initiative to embrace stablecoins According to a press release shared with Cointelegraph on Oct. 16, this development is part of a broader initiative, which sees the Bermuda government support “the use of USD-dollar backed stablecoins and decentralized finance protocols and services.”  Circle co-founder and CEO Jeremy Allaire said: “Bermuda’s Premier made a broader announcement today about embracing stablecoins as the future of the…

Ripple Partners With World’s Third-Largest Fintech Firm Finastra

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London-based Finastra — the third-largest financial services technology firm in the world — has partnered with Ripple to grant its customers access to the RippleNet blockchain network. As reported by the Fintech Times on Oct. 16, the cooperation between the two firms will see Ripple’s over 200 existing clients reciprocally access Finastra’s extensive banking network, which includes 48 of the top 50 banks globally.  Partnership with a financial software “global behemoth” Finastra was formed in 2017 after a merger between Misys and D+H, with the development hailed at the time…

Wilshire Phoenix Amends Bitcoin ETF Proposal

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Investment management firm, Wilshire Phoenix, has refiled their Bitcoin ETF proposal with the SEC to include a few new clauses and arguments in favor of the product. The new filing completely supersedes the previous one, which could warrant the SEC delaying their decision to closely study the amendment, October 16, 2019. Bitcoin Treasury ETF Updates Wilshire Phoenix’s unique product combining the capital appreciative properties of Bitcoin with the risk-free return of treasury bills has taken a new spin in its search for approval. According to a new SEC filing, Coinbase…

EY Unveils Public Finance Blockchain to Track Gov’t Spending

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Big Four auditing firm Ernst & Young (EY) has launched a blockchain platform for public funds meant to enhance transparency. Technology news outlet Verdict reported on the launch on Oct. 16. The OpsChain Public Finance Manager (PFM) system enables transparent tracking of public budgets and expenditures viewable by all citizens.  PFM will also reportedly enable public funds to be matched with outcomes, which in turn would provide insight into how effective different policies are. Enabling data-driven policy decisions The system can reportedly track government public funds as they move through…

Steady Bitcoin Lightning Network Development Strengthened by Electrum and Muun

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Electrum, a popular Bitcoin wallet announced on Monday, October 14, that its new version would support the Lightning Network. In addition, the Buenos Aires-based bitcoin wallet startup Muun has announced the release of its wallet which aims to provide a seamless experience for Bitcoin and Lightning Network iOS users. The Lightning Network The main goal of the Lightning Network is to be able to manage a higher number of Bitcoin transactions in order to satisfy an increasingly high demand from users. To establish itself as a true global asset, Bitcoin…

Aliant to Pay Part of Employees’ Compensation Packages in Bitcoin

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United States merchant services provider and payment processing firm Aliant Payments will be paying each of its employees part of their compensation package in cryptocurrency.  In a press release on Oct. 16, Aliant said that the offer reflected a desire that employees become invested customers in the shift to digital currency. Aliant’s evolving crypto payments processing solution Aliant launched its crypto processing system for merchants, dubbed CryptoBucks, back in 2017 and developed a proprietary, fully compliant solution in July 2018 to process crypto payments, converting them to USD, and offering…