Day: November 25, 2019

Ripple Completes Promised $50 M Investment in MoneyGram With Final $20 M

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Major money transmission network MoneyGram has announced that blockchain-based payments firm Ripple has completed its original commitment with a final $20 million investment. In a Nov. 25 press release, MoneyGram announced that Ripple Labs Inc. has made a final $20 million equity investment in MoneyGram as part of Ripple’s original $50 million equity investment commitment. A total investment of $50 million  In June, the two companies entered into a 2-year-strategic partnership to collaborate in cross-border payments and foreign exchange settlements with digital assets. As part of the agreement, MoneyGram would…

‘Nothing Is Above Bitcoin, No CBDC, No Stablecoins,’ Says Blockstream CEO Adam Back

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In an exclusive interview with Cointelegraph, Blockstream CEO Adam Back stated that for him, nothing is above Bitcoin, not even stablecoins or other coins issued by central banks. Adam Back invented the hashcash proof of work system, and was one of the first people to work with Bitcoin (BTC). In addition, he was present this year at the G20 meetings in Japan, where he spoke about the positive uses of blockchain. At G20, sitting next to the president of the Dutch central bank, Back said he believed the blockchain would…

Thailand Introduces Blockchain-Based Tax Refunds for Oil Exporters

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The Excise Department in Thailand is poised to introduce a new way of refunding overpaid taxes to oil exporters by using blockchain technology. On Nov. 25, director-general Patchara Anuntasilpa told the Bangkok Post that the Thailand Excise Department will change its current tax refund practice by introducing a blockchain-based tax payback system, which it hopes to implement by the middle of 2020. One of three blockchain-based pilots Patchara explained that the future tax payback system will require oil exporters to pay excise tax and claim overpaid taxes after they have…

Strong Bounce at $6.5K Enough for a Bullish U-Turn?

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Bitcoin (BTC) closed the week down at $6,900 having lost around $1,400 or 18.72%. Monday got off to a disastrous start for the bulls, with a selloff in the Asian market session, losing another 5.5% finding lows of $6,500 before the bulls responded with a 13% swing back over $7,300.  As has been witnessed recently, Bitcoin has continued to dictate the valuation across the cryptocurrency market as a whole. Notably, Ether (ETH) briefly traded around $130, but has since recovered and is now attempting to retake $150, up around 6%…

Crypto Markets Showing Mild Signs of Recovery, BTC Stalls At $7,200

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Monday, Nov. 25 — Cryptocurrency markets are showing mild signs of recovery, while Bitcoin (BTC) is fighting to stay above the $7,100 price mark. Cryptocurrency market daily overview. Source: Coin360 Bitcoin started the day just above the $7,100 price mark, at which point the world’s largest crypto coin bounced off a local low of $6,560, before moving up again to its current trading price near $7,150. After a tumultuous 24 hours, BTC is showing a minor gain of just under 1% on the day. BTC is down around 12% from the…

Bitcoin Falls Another 10% on China’s Crackdown

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The biggest cryptocurrency in the world by market cap started off the year with a rally that went on for six months, but since then, it has been a bit chaotic. On Monday, Bitcoin slumped to its lowest level in six months after the Chinese central bank, The People’s Bank of China (PBOC), launched a crackdown on cryptocurrencies. The PBOC warned that there were risks associated with either trading or issuing cryptocurrencies. Considering the sheer size of the Chinese market, it proved to be a blow to BTC, and the…

Bitcoin Falls Another 10% on China’s Crackdown

boss

The biggest cryptocurrency in the world by market cap started off the year with a rally that went on for six months, but since then, it has been a bit chaotic. On Monday, Bitcoin slumped to its lowest level in six months after the Chinese central bank, The People’s Bank of China (PBOC), launched a crackdown on cryptocurrencies. The PBOC warned that there were risks associated with either trading or issuing cryptocurrencies. Considering the sheer size of the Chinese market, it proved to be a blow to BTC, and the…

New Bitcoin Core Upgrade Brings Privacy and Block Propagation Improvements

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This week, Bitcoin Core 0.19.0 was released, marking the 19th upgrade to the client. Each upgrade aims to bring small changes that make a worthwhile difference, and the focus is on minimizing bandwidth and storage requirements while improving privacy and security measures. The new features, reported by Bitcoin Magazine, will remove default bloom filters and make Bech 32 addresses the default standard, November 25, 2019. Eliminating BIP 70 and Bloom Filters Major upgrades in this version of the Bitcoin Core client will give full nodes more autonomy in how they…

Israeli Firm Behind DX.Exchange Goes Bankrupt Following Staff Petition

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The firm behind a purportedly Estonia-based cryptocurrency exchange DX.Exchange is ceasing operations following a petition filed by employees. CX Technologies, the Israeli company operating DX.Exchange, entered bankruptcy after 78 of its employees filed a petition against the company with an Israeli court, the Times of Israel reported on Nov. 24.  The petition specifically alleged that DX.Exchange’s website stated that the exchange had been owned by an Estonia-registered company, while in fact it was operated by CX Technologies. Binary options scam and relations with the ruling elite Employees also claimed that…