Day: January 7, 2020

SBI, GMO Reportedly Sign Deal with Operator of World’s Largest Bitcoin Mining Site

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The operator of what is set to become the world’s largest Bitcoin (BTC) mining facility has reportedly signed a deal with Japanese financial services giant SBI and internet provider GMO. A Jan. 7 BNN Bloomberg report claims that the two Japanese mega-firms have agreed in principle to process cryptocurrency transactions at a new mining facility — of unprecedented scale — now being developed in Rockdale, Texas. The facility will be operated by Whinstone Inc., a subsidiary of the Frankfurt-based Northern Bitcoin AG. Whinstone — which has been operating since 2014…

Court Denies SEC Request to Make Telegram Reveal ICO Bank Records

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The District Court for the Southern District of New York has denied a request by the United States’ securities regulator to make Telegram reveal its bank records. According to a Jan. 6 court order signed by Judge P. Kevin Caste, the court has denied an application by the U.S. Securities and Exchange Commission (SEC) to “compel the production of defendant’s bank records.”  Telegram must prove that its bank records comply with data privacy laws The new court decision refers to a Jan. 2 application by the SEC to compel Telegram…

Litecoin ‘Largest Miner Capitulation’ Great News for Bitcoin — Analyst

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Bitcoin (BTC) could have its bull market induced by Litecoin (LTC) as the latter enters a bullish renaissance, noted statistician Willy Woo has forecast. In a series of tweets on Jan. 6, Woo, well known in crypto circles as the creator of data resource Woobull, highlighted an upturn in Litecoin’s fortunes in recent weeks. Woo: Litecoin difficulty “in recovery” Specifically, it is the altcoin’s mining difficulty that has begun rising once more after more than six months of decline. The difficulty is a measure of how much computing effort is…

Digital Currencies Won’t Replace US Dollar Any Time Soon: IMF Chief Economist

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The chief economist at the International Monetary Fund (IMF) has said digital currencies are not about to challenge the U.S. dollar’s pivotal role in global trade. In an op-ed for the Financial Times on Tuesday, Gita Gopinath, who took over as the IMF’s chief economist in January 2019, wrote that although cryptocurrencies represented “intriguing possibilities,” they lack the infrastructure and global acceptance needed to supplant the dollar as the preeminent global reserve currency. “Advances in payment technologies do not address fundamental issues of what it takes to be a global…

Digital Currencies Won’t Replace US Dollar Any Time Soon: IMF Chief Economist

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The chief economist at the International Monetary Fund (IMF) has said digital currencies are not about to challenge the U.S. dollar’s pivotal role in global trade. In an op-ed for the Financial Times on Tuesday, Gita Gopinath, who took over as the IMF’s chief economist in January 2019, wrote that although cryptocurrencies represented “intriguing possibilities,” they lack the infrastructure and global acceptance needed to supplant the dollar as the preeminent global reserve currency. “Advances in payment technologies do not address fundamental issues of what it takes to be a global…

XRP’s Epic 12% Rally is Bullish for Ethereum Price; Here’s Why

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For the third or fourth day in a row, bulls have decisively taken control of the cryptocurrency market. Leading the pack wasn’t Bitcoin or Ethereum (ETH), it was XRP, the third-largest cryptocurrency by market capitalization and an asset that is either despised or loved. Related Reading: Bitcoin is On the Brink of Going Parabolic; Here’s the Levels to Watch As reported by NewsBTC previously, the Ripple-linked token surged on Monday, rallying as high as 12% and tapping $0.22 as buyers stepped in en-masse. For some perspective, Bitcoin gained a mere…

XRP’s Epic 12% Rally is Bullish for Ethereum Price; Here’s Why

boss

For the third or fourth day in a row, bulls have decisively taken control of the cryptocurrency market. Leading the pack wasn’t Bitcoin or Ethereum (ETH), it was XRP, the third-largest cryptocurrency by market capitalization and an asset that is either despised or loved. Related Reading: Bitcoin is On the Brink of Going Parabolic; Here’s the Levels to Watch As reported by NewsBTC previously, the Ripple-linked token surged on Monday, rallying as high as 12% and tapping $0.22 as buyers stepped in en-masse. For some perspective, Bitcoin gained a mere…

Law Enforcement Data Requests Rose By Almost 50% in 2019, Says Kraken

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Cryptocurrency exchange Kraken has said the cost of responding to law enforcement requests for user data is rising sharply year on year. In a tweet on Tuesday, the firm posted an infographic teasing its new 2019 Transparency Report, indicating it had received 710 information requests in total – 49 percent more than in 2018. Last year, the exchange received 475 requests and just 160 were dealt with in 2017. The country issuing most requests in 2019 was the U.S. with 432 (almost 61 percent of the total). The FBI issues…

Cost to Develop Bitcoin Exchange like Binance

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Binance is among one of the best cryptocurrency exchange platforms, it is introduced by the Chinese based company in 2017. According to the sources, it has been launched by the experts. Presently, It is run by the CEO Changpeng Zhao. Mr. Zhao. He had worked with loomberg, as well as with Blockchain.info in the technological department and that’s the reason he has made the strong team of product development. They had pitched their own ICO and introduced their own exchange trading system. At the moment, the ICO has almost finished…

Why Fears of Correction Still Dominate the Bitcoin Market Despite Big Rally

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Bitcoin staged a sharp price rally this Tuesday as speculators continued to assess the likelihood of a full-blown military conflict between the US and Iran. The benchmark cryptocurrency established a seven-week high of $8,000 on Coinbase, its best level in seven-weeks. The move upside brought its weekly gains up by 10.27 percent. The bitcoin futures trade, too, noted moves towards $8,100 after the price rally in the spot market. It might be time to get out of Bitcoin’s way. — The Wolf Of All Streets (@scottmelker) January 6, 2020 Fundamentals…