Day: November 12, 2019

Bitcoin Price Jumps Up and Down Resulting in Market Losses of $90 Million

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Bitcoin price spiked and fell suddenly making the markets lose $90 million and everyone believe that a Bitcoin rally is underway. Most Bitcoin traders’ open positions were threatened yesterday by a swift and sudden spike in Bitcoin prices between 11:15 am Eastern and 11:21 am Eastern. Bitcoin prices increased from $8,787.11 to $9,123.34 within that time range. Insiders and cryptocurrency enthusiasts attributed the sudden spike to liquidations of short positions worth about $58.04 Million. Most of the gains made at the start of trading were retained but before the end…

Universal Protocol Alliance to List Mega-Utility Token on Bitcoin.com Exchange

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In addition to listing the Universal Protocol Alliance’s mega-utility token, Bitcoin.com Exchange will also list the group’s stablecoins, as well as support interoperability between the Ethereum protocol and the Simple Ledger protocol. Also Read: Cred Merchant Solutions to Help Unbanked Business Sectors Bitcoin.com Exchange to List Mega-Utility Token It was announced today that Bitcoin.com Exchange will provide an initial exchange listing to support an interoperable mega-utility token backed by the Universal Protocol Alliance, the Universal Protocol Token (UPT). The new token is expected to be on listed Nov. 20, 2019,…

Venture Capital Firm Andreessen Horowitz Presents Free Crypto Startup School

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Andreessen Horowitz, the Silicon Valley-based venture capital firm with $10 billion assets under management, announced the a16z Crypto Startup School, a free seven-week blockchain and crypto learning program. The program will start next year in February. In the announcement, Andreessen Horowitz said that interested individuals will hear from leading technologists and investors in the field of blockchain and cryptocurrenciesm and learn on how to create blockchain or crypto startups. Blockchain and cryptocurrencies are relatively new technologies; however, they are yet spreading rapidly like the wind. There are numerous organizations from…

Australian Man Arrested for Unregistered Crypto Transactions

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Australian law enforcement arrested an unnamed 38-year-old Australian man for performing unregistered cryptocurrency transactions.  The police department of Victoria announced on Nov. 12 that the man has been arrested at his address in the town of Cairnlea. The joint report from the Victoria Police and Australian Transaction Reports and Analysis Centre (AUSTRAC) reads:  “Detectives from the E-Crime Squad have arrested a man today as part of an investigation into unregistered cryptocurrency transactions.”  Money laundering accusations The Cairnlea resident is accused of violation of the Anti-Money Laundering and Counter-Terrorism Financing Act…

Wyoming Unveils First-Ever Crypto Custody Rules for ‘Blockchain Banks’

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The United States’ state of Wyoming has unveiled a series of opt-in custody rules for its so-dubbed “blockchain banks,” covering areas such as forks, airdrops and staking.  The rules were announced during the Fordham Law Blockchain Regulatory Symposium in New York on Nov. 11, according to a thread of tweets published by Wyoming Blockchain Task Force president Caitlin Long. “First-ever” regulatory provisions for crypto custodians in many areas  Wyoming’s “blockchain banks” — legally known as “special purpose depository institutions” (SPDIs) — were approved by the Wyoming state legislature in February…

Ethereum’s Founder Joe Lubin Discusses ConsenSys, Ethereum 2.0 and China

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In a rather lengthy but surprisingly interesting interview with Forbes, one of Ethereum’s founders, Joe Lubin, gave an in-depth insight into what Ethereum 2.0 is all about including the different stages associated with the project and how Ethereum 2.0 would change the world for good. One of the most fascinating points in the interview was that Lubin stressed his willingness to work with the Chinese government and probably teach them a thing or two about the perks of a public blockchain. ConsenSys Lubin, the co-founder of Ethereum who also successfully…

HTC Will Support Binance Chain With Special Edition Smartphone

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Smartphone developer HTC plans to provide support for Binance Chain with a new special edition version of its blockchain mobile. The company announced Tuesday that it would release an EXODUS 1 smartphone that integrates with crypto exchange Binance’s namesake blockchain, providing support for its decentralized exchange and token. The EXODUS 1 Binance edition will integrate Binance Chain with the device’s native Zion Vault wallet app, according to the announcement. Essentially, users will be able to directly access the Binance DEX using the phone. HTC decentralized chief officer Phil Chen said…

‘No Point’ in Central Bank Digital Currencies

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Alan Greenspan, the former chair of the United States Federal Reserve (Fed), has said there’s “no point” for central banks to issue their own digital currencies. According to a CNBC report on Nov. 11, Greenspan made his comments during the annual economic outlook conference hosted by Chinese financial magazine Caijing. No point in Libra either Greenspan’s argument reportedly hinged on the fact that national fiat currencies are backed by sovereign credit — a provision that is exclusive to the nation-state and its institutional structure.  Not even the tech behemoths in…

Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report

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A Canadian bank, which banned its clients from buying Bitcoin (BTC), could now become the first in the country to launch a cryptocurrency exchange.  As innovation economy news outlet The Logic reported on Nov. 11, the Royal Bank of Canada (RBC) is now rumored to be considering the plans. RBC reportedly planning multifunctional exchange RBC is the largest bank in Canada by market capitalization, with $661 billion CAD ($499 billion) in assets under management. According to The Logic, the bank is entertaining the possibility for the exchange to function both…

Bitcoin Makes the First Page of China’s State-Sponsored National Newspaper

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Bitcoin(BTC)trade has made the headline on Xinhua, the People’s Republic of China’s national publication. The state-sponsored news outlet featured an article which was titled ‘Bitcoin: The First Successful Application of Blockchain Technology.’ The piece has been circulating on social media platforms such as Twitter, as members of the crypto community shared it around. Matthew Graham, CEO of Sino Global Capital was one the first people to notice the article and posted it on Twitter with image of the front page of the newspaper. In spite of first impression, the article…