Day: November 1, 2019

Huobi Cloud to Offer White-Label Exchange Services in Middle East, Africa

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Huobi Cloud, part of the crypto exchange Huobi Group, has announced its plan to provide more local financial institutions with white-label exchange services based on cloud technology in the Middle East and Africa. Existing institutions include the Nigeria-based SaBi exchange, with about $100,000 worth of daily crypto trading volume, and the South African exchange HIZA, which is expected to go live in the fourth quarter. Mohit Davar, EMEA regional president of Huobi Group, described to CoinDesk how these institutions are looking to leverage an international platform’s security resources and deeper…

Deribit to Pay Users $1.3M After Bitcoin Price ‘Flash Crash’ to $7.7K

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Cryptocurrency futures and options exchange Deribit says it will use its own money to refund users affected by an exchange rate miscalculation. In a tweet on Nov. 1, Deribit recognized its role in the error, which occurred on Thursday and resulted in Bitcoin (BTC) trading at around $7,700. Deribit: crash caused by “outlier” value This, in turn, caused traders to be paid a lower price for BTC/USD sells, with Deribit calculating the losses at $1.3 million.  Deribit Bitcoin futures chart. Source: TradingView, Twitter “Deribit will reimburse over $1.3 million in…

Bitcoin Quarterly Delivery Contracts Launched on KuMEX

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KuMEX, the derivatives platform of KuCoin cryptocurrency exchange, announced the launch of Bitcoin quarterly delivery contracts on October 31, 2019. The announcement comes shortly after the confirmation of monthly Bitcoin futures contracts made during the Blockchain Life 2019 Forum held in Moscow, Russia.  Quarterly Bitcoin Contracts KuMEX, the KuCoin branch focused exclusively on derivative futures contracts launched in July of this year, has expanded its service offering with the introduction of  Bitcoin quarterly delivery contracts available starting October 30. This new product differs from the contracts already present on the…

Ripple (XRP) Price Set For Downside Thrust Before Higher

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Ripple price is facing an increase in selling pressure below the $0.2980 resistance against the US dollar. The price is likely to decline below the $0.2880 support before it could start a fresh increase. There is a key bearish trend line forming with resistance near $0.2940 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also declining, but it might find a strong support near the $175 level. Ripple price is slowly declining below key supports against the US Dollar and bitcoin. XRP price might…

Ethereum (ETH) Stuck In Range, Bitcoin Struggling Near $9K

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Ethereum price declined recently and traded below the $180 support area against the US Dollar. Bitcoin is under pressure and it seems to be struggling to stay above the $9,000 support. There is a new connecting bearish trend line forming with resistance near $183 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent upward move if it breaks the $183 and $185 resistance levels. Ethereum price is showing a few bearish signs versus the US Dollar, similar to bitcoin. However, ETH price is…

Video: Will Bitcoin Crash or Double in Price After the Halving? Miners Have Their Say

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Will the price of bitcoin double or crash during the upcoming halving next year? And how will the mining industry adapt to their revenue stream being cut in half over night? See what professional miners from around the world have to say on the matter. Also Read: US, EU and UK Companies Can Now Pay Workers in Bitcoin Cash via Bitwage Miners Talk Bitcoin Halving 2020 The Bitcoin.com team has recently talked with ten prominent people from the crypto mining industry about the upcoming halving at the World Digital Mining…

SBI’s Crypto-Focused Venture Capital Arm Sees Major Turnaround On Year

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SBI Securities’ trading revenue surged 19.2% in 2019, largely due to the inclusion of the company’s crypto investment wing, which turned a $7.1 million loss into a $30 million profit over the year. Japanese financial services giant SBI Holdings released its new financial report on Oct. 30. The report analyzed results for the six-month period ended Sept. 30, 2019 and witnessed major growth of SBI’s crypto-heavy venture capital arm in 2019 amid a general decline in SBI’s revenue. SBI VC Trade profits grow over $30 million over a year According…

XRP Is 10 Times Safer Than Fiat for Intl Payments – Ripple

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According to Ripple, XRP is 1/10th as volatile as fiat for cross-border payments. The current SWIFT system is so slow it exacerbates international payment risk. XRP payments clear so fast that the exchange rate risk is negligible. The math busters over at Ripple have crunched the numbers and conducted a study that concludes that XRP is 10 times safer for making international payments – or as Team Ripple explains, one-tenth as volatile as fiat for cross-border transactions. Ripple’s head of Global Institutional Markets, Breanne Madigan, took to Twitter on Thursday…

Security Token Platform Receives Transfer Agent License From SEC

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Harbor, the digital platform for alternative assets, has received a transfer agent license from the United States Securities and Exchange Commission (SEC). On Oct. 31, Harbor CEO Joshua Stein told the Block that his blockchain-enabled platform is “now the first blockchain company to receive both a transfer agent license and a broker-dealer license.” Transfer agent license will compliment broker-deal license The transfer agent license will enable Harbor to maintain financial records of security token ownership, track account balances and pay out dividends while attracting blockchain companies that are looking to…