Day: October 23, 2019

Binance, Hashkey Pro to List SEC-Sanctioned Blockstack Token

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Major cryptocurrency exchange Binance is preparing to expand its token offering with the listing of Blockstack (STX). According to an announcement on Oct. 23, the cryptocurrency exchange will open trading for STX/Binance Coin (BNB), STX/Bitcoin (BTC) and STX/Tether (USDT) trading pairs on Oct. 25. Binance users can now deposit STX ahead of trading.   In addition to trading on Binance, STX will also trade on institutional exchange Hashkey Pro. In a separate press release, Blockstack notes that there are presently no authorized exchanges or tradings systems for United States-based investors to…

XRP Mentioned in Congressional Hearing for Libre Crypto Farse

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2019 award for ‘straightest face while being told your coin is not even real’ award goes to Mr Robot from the platform that brought you Brexit and CA. After being told in front a packed Congress his knowledge of civil rights could be written on a tic tac and that his Libre coin was not even a real coin, anyway. It is cruicial for members of this comittee be able to differentiate between libra which is really not a real cryptocurrency and actual cryptocurrencies like Bitcoin, Ethereum and XRP… Head…

ING Bank Proposes Security and Privacy Trade-Off for Corda Blockchain

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ING announced that researchers at the financial services firm have solved a security and privacy issue on blockchain software firm R3’s Corda blockchain. On Oct. 23, ING’s distributed ledger technology team presented its white paper, called “Solutions for the Corda security and privacy trade-off: having your cake and eating it,” where it reportedly found a solution to improve the security and privacy trade-off on Corda, an open-source blockchain platform. Zero-knowledge proofs allow for greater privacy and security The white paper states that currently, the content of each transaction on the…

Over 40% of Blockchain Industry Employees Work at Crypto Exchanges

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Almost half of all people working in the blockchain industry are employed by cryptocurrency exchanges, new research from industry-focused publication The Block reveals. The Block published the research results on Oct. 23, stating that 42% of people at 158 analyzed companies work for digital currency exchanges, with around 7,700 people combined working at 30 different exchanges. Crypto exchanges are followed by crypto mining equipment producers, comprising 11% of blockchain industry employees. 10% of the surveyed employees work for various cryptocurrency governing foundations, with Ripple, TRON, Block.one and IOHK being the…

Libra Could Serve as Counter to Chinese Digital Currency, Says Zuckerberg

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Facebook CEO Mark Zuckerberg testified before the United States House of Representatives Financial Services Committee today regarding the Libra stablecoin project. Facebook’s Libra vs. China’s digital renminbi During the much-anticipated hearings before Congress on Oct. 23, lawmakers and the CEO discussed the growing competition with China on the economic and geopolitical stage. In his prepared statements to the Committee, Zuckerberg stated that the project would ensure that the U.S. stays a financial leader globally: “China is moving quickly to launch a similar idea in the coming months. We can’t sit…

Price Analysis 23/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

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The crypto space is deep in the red. Is this a bear trap or the start of a new downtrend? Let’s analyze the charts. Bitcoin’s (BTC) plunged today, dragging the whole crypto space along with it. The total crypto market capitalization has broken below the $209 billion mark from where it had bounced on two previous occasions in late September. It has psychological support at $200 billion and below this point the total market capitalization could drop to $170 billion. Cryptocurrency daily performance. Source: Coin360 At the moment, there is…

Bitcoin Derivatives Massively Overpower Spot Trading Volume

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By now it is well established that market speculators dominate the cryptocurrency sphere. Hedging and actual purchase/sales volume are a tiny blip relative to the massive allocation of capital under the theme of speculation. This isn’t necessarily bad, as it means people understand the primary utility of Bitcoin is that it is immune to monetary and fiscal manipulation that runs rife today. However, Bloomberg reports that the reason for heavy derivative trading is the ability to use high leverage and reduce capital intensity, October 22, 2019. Derivatives Continue to Dominate …

US Treasury Agrees on Need to Observe Libra After Congressman’s Request

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The United States Department of the Treasury has agreed to the need for an investigation into Facebook’s forthcoming Libra stablecoin following a letter from Representative Emanuel Cleaver. Per a press release published on Congressman Cleaver’s website on Oct. 22, the Treasury provided an affirmative response to Cleaver’s appeal to examine Libra and its corresponding wallet Calibra for potential systemic risk. Cleaver sent the letter to Facebook, Calibra, the Financial Stability Oversight Council (FSOC), and the Office of Financial Research in August. In September, Facebook stated that it would postpone the…

3 Likely Reasons Why Bitcoin Price Crashed — And What’s Next for BTC?

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The moment many traders have anxiously anticipated arrived this morning as Bitcoin price (BTC) plunged below $7,800 and eventually settled near $7,400. It’s possible that the bleeding isn’t over yet and investors will likely wait for the 4-hour and daily close before making any strong moves. Many traders anticipated a decisive move occurring sooner than later simply based on the fact that Bitcoin has been bouncing around in the $7,800 to $8,300 range since Sept. 26 and the digital asset’s consistent failure to sustain above $8,200 to $8,300 suggested that…

Facebook Would Leave Libra if It Launched Too Early

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Facebook could withdraw from the Libra Association — the governing body of the eponymous stablecoin project — should it launch without approval from regulators in the United States.  Libra could lose its primary member In a Congressional hearing on Oct. 23, Facebook CEO and founder Mark Zuckerberg reiterated the company’s commitment to not launch its planned cryptocurrency project until it receives the green light from U.S. regulators. Zuckerberg delivered his statements before the House of Representatives Financial Services Committee, where lawmakers grilled him on various aspects of the company’s activities…