Day: December 23, 2019

MARKETS DAILY HOLIDAYS: What’s a ‘Satoshi’?

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On today’s holiday episode of Markets Daily, we take a look at the term “Satoshi”, it’s origin, what it means and why it matters. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source If You Liked This Article Click To Share DailyHolidaysMarketsSatoshiWhats CryptoX Portal

MARKETS DAILY HOLIDAYS: What’s a ‘Satoshi’?

boss

On today’s holiday episode of Markets Daily, we take a look at the term “Satoshi”, it’s origin, what it means and why it matters. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source

Unlike Libra, Digital Yuan Will Not Need Currency Reserves To Support Value: PBOC Official

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The head of the People’s Bank of China’s (PBOC) digital currency research subsidiary, Changchun Mu, said China’s cryptocurrency will not need a currency basket to maintain a stable value. Speaking to reporters at The China Finance Association Academic Annual Meeting and China Finance Forum Annual Meeting in Beijing Saturday, Mu said the digital yuan would be distinct from other forms of cryptocurrencies, including Libra. “The [digital yuan] currency is not used for speculation. The RMB is used to spend, not for speculation. It does not have the characteristics of bitcoin…

Poloniex Drops KYC for Withdrawals Below $10,000 Following US Exit

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Poloniex has introduced a new type of account that allows users to withdraw as much as $10,000 a day without completing know-your-customer (“KYC”) verification. The exchange said in a blog post Thursday its new “Level 1” accounts will only require users to register with an email address and password. “Any customers who sign up from here on out can begin trading in seconds with a Level 1 account,” reads the entry. Level 1 users can deposit and trade an unlimited amount of cryptocurrency. They can also withdraw a maximum of…

Poloniex Allows Up to $10,000 Daily Withdrawals for KYC-Less Accounts

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Cryptocurrency exchange Poloniex announced a new account tier — dubbed Level 1 — allowing for up to $10,000 in daily withdrawals without requiring full Know Your Client (KYC) onboarding. According to the announcement published by the exchange on Dec. 19, the new account tier has been created in reaction to user feedback. The post reads: “We’ve heard your feedback time and time again about wanting to use Poloniex without giving up your identity. We’ve wanted to make this a reality for a while now and are sorry it has taken…

Mnuchin Affirms $1.5 Trillion Unaccounted For, Still Demands Strict Bitcoin Regulation

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U.S. Treasury Secretary Steven Mnuchin remarked last week that a reported $1.5 trillion in missing cash — mostly one hundred dollar bills — was “sitting in bank vaults all over the world.” The famously anti-bitcoin U.S. official noted that “there’s a lot of ‘Benjamins’ all over the world” and emphasized the strength of the currency as the main reason many in other countries wish to possess it. The remarks come off as flippant to some, considering Mnuchin is one of the leading pushers for financial regulation and anti-money laundering rhetoric.…

Bakkt Has Two New Appointments as Former CEO Leaves for US Senate

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Former PayPal and Google veteran Mike Blandina has been appointed as the new CEO of major cryptocurrency trading platform Bakkt. Following the departure of founding CEO Kelly Loeffler, who was appointed to a United States Senate seat in early December, Blandina has now been promoted to CEO position as he joined Bakkt as chief product officer in April 2019. As announced by Bakkt’s parent company Intercontinental Exchange on Dec. 23, the appointment came into force on Dec. 20. Bakkt’s former COO Adam White will now serve as the company’s president…

Chinese Authorities Confiscate Nearly 7,000 Crypto Mining Machines

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Chinese authorities have seized nearly 7,000 crypto mining machines, illegally consuming electric power. The cryptocurrency mining confiscation came as part of an inspection of more than 70,000 households, 3,061 merchants, 1,470 communities, as well as factories, mines, courtyards and villages in the Kaiping District of Tangshan city. The inspection was carried out by Tangshan police in collaboration with State Electric Power Department and other authorities looking to inspect suspicious electricity use. During the investigation, which initially started in April last year, the authorities seized 6,890 ASIC miners and 52 high-power…

Into The Ether: 90% of All ETH Wallets Now ‘Out-of-The-Money’

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Ether is down significantly from record highs and the majority of its holders are losing money on their investments. The second-largest cryptocurrency, which powers ethereum’s blockchain, is currently trading at $131, representing a 90 percent drop from the all-time high of $1,431 reached in early January 2018, according to CoinDesk’s ether price index. The relentless price slide has pushed 90 percent or 31.31 million ether addresses “out-of-the-money,” according to blockchain intelligence firm IntoTheBlock.   An address is said to be out-of-the-money if the current price of ether is lower than the…

Crypto IEO ‘Poor Performance’ Sees Investors Lose up to 98%

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Initial exchange offerings (IEOs), which launched in 2019 have lost investors up to 98% of their money, damning new statistics show.  In its latest report on the phenomenon published on Dec. 23, the analytics arm of exchange BitMEX, BitMEX Research, identified twelve major IEOs that launched this year. Of those, eleven are now almost worthless compared to the price at which they first traded on exchanges. Almost all IEOs down 80% or more “Relative to the first traded exchange price… the performance to date has been poor. Almost all the…