Day: October 25, 2019

Bitcoin Price Skyrockets to $8.7K Confirming Previous Bottom Signals

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Bitcoin (BTC) price just made a $1,200 rally towards $8,700, leaving bears and shorts behind. Several signals were pointing towards a potential trend shift and price reversal, while the overall market sentiment was still extreme fear.  Crypto market data. Source: Coin360 The majority of the market was looking for lower levels to buy and most often when the majority expects one thing, the opposite happens. However, what were the reasons behind this latest push? CME gaps closed and Bakkt volume kicks in BTC/USD CME chart. Source: TradingView Gaps on charts…

Bitfinex Calls Itself ‘Victim of a Fraud’ in Response to Recent Arrest

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Major global crypto exchange Bitfinex has called itself a “victim of a fraud” in response to the recent arrest of the president of Crypto Capital exchange. Bitfinex will continue to recover lost funds Following the arrest report on Oct. 24, Cointelegraph received a response statement from Stuart Hoegner, Bitfinex’s general counsel, on Oct. 25. The statement seeks to establish the company as a “victim of fraud” and to deny potential accusations of illegal activity by Bitfinex. In the statement, Bitfinex claimed that any allegation that Crypto Capital, which is a…

Bitcoin Price Skyrockets $500 in Minutes as Bakkt BTC Contracts Hit Highs

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Bitcoin (BTC) surged $500 in just five minutes today after experiencing a sharp drop on Oct. 23, from $7,950 to $7,450 and sitting at the position for two consecutive days. Cryptocurrency market daily overview. Source: Coin360 According to the data from Coin360, BTC gained $536 in minutes, skyrocketing from $7,855 to $8,391. At press time Bitcoin is trading at around $8,424, up nearly 13% over the past 24 hours. Bitcoin 24-hour price chart. Source: Coin360 While the reason behind the recent drop is not clear, some community members attribute Bitcoin’s latest surge…

Bitfinex Denies Laundering, Says It’s a Victim of ‘Fraud’ by Crypto Capital

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Bitfinex says it was conned. The crypto exchange and sister company of Tether claimed Friday that it was the “victim of a fraud” at the hands of Crypto Capital, a payment processor that allegedly lost $880 million of Bitfinex’s money. Crypto Capital’s president, Ivan Manuel Molina Lee, was arrested Thursday by Polish police on charges of money laundering. In a statement released Friday, Bitfinex said it will “make its position clear” to U.S. and Polish authorities and will continue to pursue the funds that Crypto Capital lost. According to the…

Bitfinex Denies Laundering, Says It’s a Victim of ‘Fraud’ by Crypto Capital

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Bitfinex says it was conned. The crypto exchange and sister company of Tether claimed Friday that it was the “victim of a fraud” at the hands of Crypto Capital, a payment processor that allegedly lost $880 million of Bitfinex’s money. Crypto Capital’s president, Ivan Manuel Molina Lee, was arrested Thursday by Polish police on charges of money laundering. In a statement released Friday, Bitfinex said it will “make its position clear” to U.S. and Polish authorities and will continue to pursue the funds that Crypto Capital lost. According to the…

Tether Catching Up With BTC and ETH: Bloomberg

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Stablecoin Tether (USDT) is gaining popularity as a payment method, with some analysts seeing it catching up with Bitcoin (BTC) and Ether (ETH). As Bloomberg reported on Oct. 25, cryptocurrency payments processor CoinPayments registered the rapid increasing of popularity of Tether — a stablecoin pegged 1:1 to a United States dollar — as a means of payment. On the site, which has a 2.4 million user base, Tether currently accounts for 30% of volume, which is 30 times more than a year ago. Tether undermines Ether’s leadership? Bitcoin application as…

Privacy-Focused Cryptos Hunted Down by Forensics and Exchanges

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As Japan and South Korea — two of the largest cryptocurrency exchange markets in Asia — are increasingly pressuring exchanges to delist privacy-focused crypto assets, and concerns are rising that it could lead to more markets, at least in Asia, to follow the trend of the two major countries. Meanwhile, Blockchain analytics firms like CypherTrace appear to be developing technologies to better understand the structure of privacy-focused coins and to trace transactions initiated by cryptocurrencies. Speaking to Cointelegraph, a spokesperson for CypherTrace said that the company expects to see some…

Final Russian Nuclear Scientist Jailed For Mining Bitcoin At Work

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A Russian scientist and former employee at the nation’s premier nuclear research facility was jailed on Oct. 24, for his part in a scheme to secretly mine Bitcoin using the facility’s supercomputers.  Stealing energy and computing power from your employer According to an Oct. 25 report by RT, former employee Andrey Rybkin was sentenced to 3 years and three months in prison, for the “unauthorized use of computer capabilities.” Two of his colleagues were previously fined for their roles in the plot, with one also receiving a suspended prison sentence.…

ODL Skyrockets, MoneyGram Demands More & XRP to Jump in Price?

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For XRP to increase in price it needs increased utility and value which in turn means it can handle bigger and bigger transactions across the XRPL. Recently we have seen this usage and utility on exchanges such as Bitso, where MoneyGram is starting to ramp up its ODL/XRP payment corridors. I got a call from the COE of MoneyGram, I probably should’t say this, he is upset with us because we are not moving fast enough! He wants us to launch on demand liquidity formerly known as xRapid and on…

Nearly 12% of All Tether Is Now on Tron After $100M Chain Swap

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The amount of Tether (USDT) tokens issued on the Tron (TRX) blockchain now accounts for nearly 12% of all USDT tokens. 350 million to 450 million in one day Launched in mid-April 2019, TRC20-based USDT has hit a total supply of over 490 million tokens on Oct. 25, which now makes up almost 12% of the 4.1 million Tether tokens currently in circulation, according to data on Tronscan. TRC20-based USDT on Tronscan The new total supply milestone resulted following the addition of 100 million new TRC20-based USDT tokens, as the…