Stablecoin issuer PAXOS recently introduced its first gold-backed cryptocurrency PAX Gold. In a press release published in September, the financial operator claimed that it’s “the first crypto-asset redeemable for physical gold.” According to the report, it is also the first regulated digital gold product as it received approval from the New York State Department of Financial Services. As it’s an asset-backed cryptocurrency, ownership of a PAXG token is equivalent to 400oz of gold, which you can redeem at any time. As an ERC-20 token, it’s developed in the Ethereum blockchain.…
Month: October 2019
Binance Quietly Launches Ruble Trading for ‘Top-10 Market’ Russia
Major global crypto exchange Binance has silently launched Russian ruble trading on Oct. 30 allowing users to deposit and withdraw in RUB. Binance Ruble trading goes live according to the plan Less than two weeks after announcing Binance’s plans to launch fiat trading starting with Russian ruble, Binance CEO Changpeng Zhao (CZ) revealed that ruble trading is live in a tweet on Oct. 31. CZ noted that the launch of Russian ruble was released silently and in conjunction with his interview on Coindesk stating that Russia is one of the…
3iQ to Launch Closed-End Bitcoin Fund for Retail Investors in Canada
Photo: 3iQ Corp / Twitter 3iQ Corp (3iQ), Canadian investment fund manager received approval from the Ontario Securities Commission (OSC) to launch a closed-end Bitcoin fund to retail investors. OSC panel has not placed any conditions on the Bitcoin fund, such as restricting the entities with whom the fund could purchase and sell Bitcoin, and addressing insurance requirements for the fund’s bitcoin held in wallets. 3iQ has taken reasonable steps to mitigate the risks associated with the fund and the Bitcoin markets through the structure of the fund and the…
Bitcoin May See November Price Boost With Halving Due in Six Months
View Bitcoin tends to pick up a strong bid six months ahead of the reward halving, according to historical data. With the halving event due in May 2020, BTC may rise above the recent high of $10,350 in November and could challenge the 2019 high of $13,880 over the next couple of months. Shorter term, a contracting triangle breakdown on the hourly chart suggests scope for a drop to $8,820 in the next 24 hours. The bear case would be invalidated if prices rise above the hourly chart resistance of…
Bitcoin Price Dips Below $9K Support as Traders Weigh Correction Odds
Bitcoin (BTC) fell below $9,000 for the first time in almost a week on Oct. 31 as rumors of a correction intensified among analysts. Cryptocurrency market daily overview. Source: Coin360 BTC short-term outlook could call for $8.2K Data from Coin360 showed BTC/USD dipping below the $9,000 mark in Thursday trading — a level that has acted as support since last weekend. At press time, the largest cryptocurrency was circling $9,050, having bounced off a local low of $8,960. BTC broke support after three days of slow grind down from an…
Bitcoin Price Stays Stable despite Federal Reserve Cuts Rates
For the third time this year, the U.S. Federal Reserve has cut interest rates amid a global economic slowdown. However, BTC price stays stable. The U.S. Federal Reserve has lowered interest rates by a quarter of a percentage, exactly rate by 25 basis points to a range of 1.5% to 1.75%, as it was expected. Still, the regulator said that further reductions will not happen so soon that came as a disappointment to President Donald Trump who constantly criticizes the central bank of not cutting rates quick enough. Be it…
Malta’s Financial Watchdog Warns of Repeat Offender Bitcoin Scam
The Malta Financial Services Authority (MFSA) has warned of a new Bitcoin (BTC) scam that shares the same characteristics as a previously identified entity. The watchdog issued its warning on Oct. 31. Opportunity for fraud The MSFA cautions the public that an entity dubbed “Bitcoin Future” appears to display “the same deceitful characteristics” as a separate scam, dubbed “Bitcoin Revolution,” for which it has already issued two public warnings this year. The statement notes that such scam operations appear to constantly resurface on the web as adverts, switching their names…
China Bans All Forms of Criticism of Bitcoin and Blockchain Technology
In what has been seen by many as a long-expected move, the Chinese have now banned any form of communications that may tend to criticize, oppose or cast aspersions on Bitcoin and blockchain technology. This, of course, presents the new reality that the Chinese find themselves in: one in which they have chosen to champion nascent decentralized technologies which will determine to some extent how adoption will play out in the rest of the world. Following comments by Chinese President Xi Jinping supporting blockchain technology, the rising prices of Bitcoin…
Blockchain and Cryptocurrencies: A Godsend for the Online Gambling Industry
Cryptocurrency usage is extensive in the online gambling segment, making it the driving force behind the adoption of cryptos. People have started to prefer crypto gambling and sportsbook options over conventional offerings due to its various underlying benefits, attractive discounts in the form of deposit bonuses, bonus codes, etc., and virtually nil transaction and processing fees offered by these platforms. In this article, we will briefly discuss the adoption of cryptocurrency and blockchain in online gaming and their benefits. A Backstory Over a decade has passed since the introduction of…
Blockchain Gaming Project Immutable Sells out US$6.2 Million Genesis Sale
Blockchain company Immutable, who build video games with player-owned assets, closed off the “Genesis Sale” for their game Gods Unchained, the highest-grossing and most popular blockchain game since its announcement in July of last year. In an announcement declaring the end of the sale, the developers also shared details about their new marketplace, set to launch in the next few days. Given the open nature of the assets, however, players will also have the opportunity to trade their in-game cards and items on a variety of 3rd party and community…