Day: January 8, 2020

COO Parts Ways With OKEx to Focus on Mass Adoption Through Consultancy

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OKEx chief operating officer Andy Cheung announced Jan. 7 that he has resigned from the cryptocurrency exchange to form a new blockchain consultancy institute called Bitwork. The entrepreneur’s stated goal is to help projects connect to markets and drive mass adoption. Helping create quality projects Cheung claimed that his contribution toward the mass adoption of cryptocurrency is very limited within an exchange. Therefore, with OKEx’s blessing, he left to better achieve these stated goals with this new venture. His inspiration for Bitwork comes from his role at OKEx: “The question…

Hackers Demand $6 Million Bitcoin Ransom from Travelex

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UK-based currency exchange site Travelex is the latest victim of suspected cybercriminals demanding Bitcoin (BTC) ransom. The BBC reports that the alleged hackers want $6 million in BTC in exchange for the decryption of the company’s hacked files. $6 Million According to the BBC, currency exchange giant Travelex suffered a cyber attack on New Year’s Eve forcing the firm to temporarily shut down its online operations until further notice. The hackers chose to strike during the holidays at a time when most members of staff were away from their desks.…

Bitcoin May Follow Gold With Significant Price Breakout

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Bitcoin hit seven-week highs during the Asian trading hours and could extend the rally to a key Fibonacci hurdle above $8,600. A weekly close (Sunday, UTC) above $7,960 looks likely and would confirm a falling channel breakout on the weekly chart and signal a revival of the bull run from lows near $4,100 seen in April 2019. Gold witnessed a channel breakout at the end of December and has rallied by more than $100 ever since. Acceptance below $8,000 would weaken the odds of channel breakout this week. Bitcoin jumped…

‘Cryptocultists’ May Stop Bitcoin Bull Market — Trader Who Called $20K

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Bitcoin (BTC) returning to a bull market depends on whether “cryptocultists” have already exited the market, veteran trader Peter Brandt has warned. In a tweet on Jan. 8, Brandt, who has become a regular Bitcoin pundit in recent years, confirmed he was eyeing current price activity to determine the likely next move. Brandt: Bitcoin needs “cryptocultist shakeout” BTC/USD gained 5.5% in the 24 hours to press time, retaking $8,000 in a move many previously considered highly unlikely.  Whether momentum continues, Brandt says, is nonetheless down to the composition of the…

ICO launches consultation on draft direct marketing code of practice

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The Information Commissioner’s Office (ICO) has launched a public consultation on a draft direct marketing code of practice. Processing personal data for direct marketing purposes is carried out by the vast majority of organisations. Businesses from sole traders through to large corporations as well as the public sector, charities, political parties and other not-for-profit organisations all use direct marketing as a tool to grow their business or publicise their causes and aims. However all organisations have an obligation to ensure their direct marketing activities comply with the General Data Protection…

Binance Crypto Exchange Adds Support for Australian Dollars and Thai Baht

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Major cryptocurrency exchange Binance added support for Australian dollars (AUD) and Thai baht. Binance announced support for the national currencies in separate releases on Jan. 7. Thai digital asset exchange Satang Corporation will process Thai baht transfers, while Australian dollar transfers will be facilitated by Banxa, a company specialized in internationally compliant fiat-to-crypto gateways.  Satang’s fiat processing service is integrated into Binance’s trading platform by means of a recently launched application programming interface that allows users to deposit and withdraw baht directly to their accounts. Satang CEO and co-founder Poramin…

Binance Adds Near-Instant UK Pound Payments in Latest Fiat Expansion

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Malta-based cryptocurrency exchange Binance has added a flurry of new fiat funding options since New Year, including Faster Payments for U.K. pounds-bearing customers. The company announced Wednesday that the addition comes via a new partnership with fiat-to-crypto payments provider Banxa, which also allows the firm to offer Australian dollar and euro purchases directly from Binance’s website. The firm notes that the euro option is available in “selected European countries” initially. The announcement comes just a day after the exchange said it was supporting deposits in Thai baht via a partnership…

Crypto Custody, Explained | Cointelegraph

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Financial institutions, regulators and investors are continuing to grapple with the issue of crypto custody. Hearing stories from those who are plugged into these discussions can offer valuable clarity to what lies ahead. The Crypto Finance Conference in the Swiss ski resort of St. Moritz, which is being held Jan. 15–17, is the perfect forum for lively debate and intelligence about the opportunities and challenges that lie ahead for the industry in the 2020s. Speakers at the event will include Cameron and Tyler Winklevoss — the twins who serve as…

Bitcoin’s Price Rises above $8,300, Bull Run Seems Likely

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Bitcoin’s price rises again. Many pundits have indicated that this has created a new paradigm where Bitcoin’s price is now finding new support levels. This also means that a bullish trend may be in the offing although many think that this isn’t so.  Bitcoin’s prices have been under severe pressure lately. The downward trend suggested that prices may have finally fallen to less than $5,000 or even worse indicating the lack of footing for a support level. These fears, however, were dispelled as Bitcoin’s price rose and several cryptocurrencies traders…

Diminishing Volume Indicative of the Potential for Bitcoin (BTC) to Reach a Fresh Low

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With Bitcoin making new highs, bullish sentiment is rife within the space as many have once again called this the end of the corrective cycle. Volume, however, has been in decline since July 2019 and the technical structure of bitcoin looks more and more like the descending triangle that formed over the course of 2018, reported by Forbes, January 7, 2019. Maintaining Composure Amidst Exuberance Bearish price action is always accompanied by Bitcoiners deeming it “accumulation time” while bullish price action is supplemented by more of the same. Either way,…