Galaxy Digital is tapping Bakkt and Fidelity Digital Assets to store the bitcoin for its two new funds. Original
Bakkt, Fidelity Will Store Galaxy Digital’s New Bitcoin Fund Holdings
Day: November 19, 2019
Top Economist Says That the Way to Kill Bitcoin Is to Keep Price Under $1,000
A widely-followed economist says suppressing bitcoin price can kill the cryptocurrency. Research supports this assessment as retail traders still dominate the market share. The strong correlation between bitcoin and Google searches point to the vulnerability of retail traders to price manipulation. Alex Kruger, an economist and trader, took to Twitter to share his thoughts on how anyone can eliminate bitcoin for good. While tech specialists might invest a ton of cash to control 51% of the network, Mr. Kruger says that one does not need to go through that process.…
Capitulating Miners Before the Halving Is Bullish for Bitcoin
Bitcoin’s mining difficulty suddenly dropped. The move down indicates that inefficient miners are going out of business. The capitulation of weak miners is long-term bullish for the dominant cryptocurrency. Bitcoin’s slow descent from the 2019 high of $13,880 to its current level of $8,130 is starting to put weak miners out of business. Over a week ago, the largest cryptocurrency’s mining difficulty suddenly plunged 7%. The drop in difficulty makes it easier for miners to solve algorithms and mine blocks. The bitcoin mining difficulty suddenly dropped. | Source: Blockchain The…
FEMA Suggests Blockchain-Based Registry to Improve Disaster Insurance Payouts
The United States Federal Emergency Management Agency (FEMA) is exploring the idea of a blockchain-based property registry to streamline disaster insurance payouts. In its latest National Advisory Draft Report to the FEMA Administrator, the agency indicated its interest in deploying blockchain technology in order to streamline disaster insurance payouts and improve the speed of disaster responses. To achieve this, FEMA recommended the establishment of a blockchain-based property and land registry, containing all critical information needed to file an insurance or disaster assistance claim. Cutting the rate of self-insurance for public…
LocalEthereum Renames to LocalCryptos; Introduces Bitcoin and other Digital Currency Support
Ether (ETH) P2P exchange platform LocalEthereum has officially renamed itself to LocalCryptos and introduced support for a slew of different cryptocurrencies including Bitcoin (BTC), and several other ERC-20 tokens. LocalEthereum Looks to go Global LocalEthereum, a prominent exchange in the cryptocurrency space that allows traders to buy, sell, and trade smart-contract digital token ETH is looking to expand its business tentacles. In a November 19, 2019, blog post, it announced that it had changed its name to LocalCryptos and that it had added support for BTC and a wide array…
Grayscale’s Bitcoin Trust Seeks SEC Reporting Company Status
Grayscale Investments has filed to register its bitcoin trust as an SEC reporting company, potentially the first crypto vehicle to attain such status. Source
Blockchain Capital Leads $25M Funding Round for Libra Member Bison Trails
Bison Trails has secured a $25.5 million Series A round led by Blockchain Capital to develop the firm’s infrastructure services. Source link
Bitcoin Medium Term Outlook: Here Is Why BTC Could Test $6.5K
Bitcoin price is currently in a downtrend below the $9,100 pivot level against the US Dollar. The price is trading well below the $8,500 support and the 100-day simple moving average. There is a crucial bearish trend line forming with resistance near $8,880 on the daily chart of the BTC/USD pair (data feed from Kraken). If the current trend remains intact, the price could test $7,400 or even $6,500. Bitcoin price is following a significant downtrend on the daily timeframe against the US Dollar. If BTC fails to stay above…
Crypto Law Firm Silver Miller Acts Against AT&T, T-Mobile & Verizon for Enabling Sim Swapping
Sim swapping recently resurfaced on the map as one of the easiest means to defraud crypto investors. And while the sim owners could be crucified for negligence, no one has taken the time to question network providers which are supposedly custodians of these sim cards. Thankfully, a legal firm committed to crypto-related cases, Silver Miller, has gathered the courage and enough evidence to dare ask the billion-dollar question – what are network providers’ role in sim swapping? Probing into this uncharted area, Silver Miller was able to uncover some of…
Deutsche Boerse, Swisscom Settle Securities with Corda and Hyperledger
German securities marketplace Deutsche Boerse and Swiss state-run telecom Swisscom have settled securities transactions using different blockchain protocols. In a joint proof-of-concept (PoC) involving a number of banks, the participants exchanged money in the form of cash tokens against tokenized shares, Deutsche Börse officially announced on Nov. 19. Based on blockchain technology, the joint PoC intends to show the potential of new technologies in the financial services sector and maintain Germany and Switzerland’s expertise in the digital asset ecosystem. Three major Swiss banks participated in the PoC The PoC involved…