Day: January 9, 2020

Former Mt Gox CEO Mark Karpeles Seeks to Put Longstanding Lawsuit to Rest

boss

Mark Karpeles, the former CEO of the now-defunct Bitcoin (BTC) exchange Mt. Gox, is seeking to put an end to litigation filed by a former exchange user back in 2014.  In papers filed in a Chicago federal court on Jan. 8, Karpeles contended that he is entitled to summary judgment as the main plaintiff in the case as Gregory Greene readily admitted that his initial claims were either untrue or unsupported.  A summary judgment can be awarded by a court on behalf of one party against another “summarily” – i.e.…

Bitcoin Price & Technical Analysis: BTC Developing Correction and Has Chances For New Growth

boss

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Tech analysis of the BTC The BTC may grow in price due to the US vs. Iran conflict In ten years, the profitability of the BTC has been many times higher than that of Gold and S&P 500. On D1, speaking about the long-term moods of the cryptocurrency, there has been a pullback to 50.0% Fibo related to the previous declining wave after a convergence on the MACD. Also, the correctional dynamics have let the market test the resistance area at 50.0% ($8500.00)…

Bitcoin Price Can Bounce to $9.5K After Filling Futures Gap — Analyst

boss

Bitcoin (BTC) fell below $8,000 overnight on Jan. 8, ending a brief period of bullish action that saw the price hit its highest since November 2019. Cryptocurrency market daily overview. Source: Coin360 BTC tests new upper $7K support Data from Coin360 and Cointelegraph Markets showed support in the $8,000 range prove to be weak, BTC/USD hitting 24-hour lows of $7,850. The pair had reached as high as $8,400 on Wednesday, while at press time, markets were targeting an area $500 lower near $7,900.  Bitcoin 7-day price chart. Source: Coin360 As…

Interpol Leads Operation to Tackle Cryptojacker Infecting Over 20,000 Routers

boss

International crime fighting agency Interpol has taken action to stem a plague of cryptocurrency mining malware afflicting computer routers across Asia. According to a Wednesday blog post from TrendMicro, which assisted the operation, Interpol’s Global Complex for Innovation (IGCI) in Singapore led a five month effort to tackle the epidemic of the Coinhive cryptojacker which was installed by cybercriminals exploiting a vulnerability in MicroTik routers. Dubbed Operation Goldfish Alpha, the action saw Interpol work with experts from national Computer Emergency Response Teams (CERTs) and police across 10 nations across Asia…

US Grand Jury Indicts Ethereum Researcher Virgil Griffith Over North Korea Trip

boss

The United States District Court for the Southern District of New York has filed an indictment against Ethereum Foundation researcher Virgil Griffith on Jan. 7. According to a court filing on Jan. 7, a federal grand jury charged Griffith with conspiracy to violate the International Emergency Economic Powers Act. The act was introduced in 1977 and is a U.S. federal law authorizing the president to regulate international commerce in case of a national emergency coming from outside the country. Griffith is accused of knowingly and willfully having conspired to violate…

Crypto Gaming Platform Litemint Completes the Acquisition of Stellarport

boss

In an official statement released on January 1st, the gaming platform Litemint, and Stellarport, which is part of Stellar ecosystem, announced that the two companies have entered an agreement in which Litemint will be acquiring Stellarport. The press release states that Stellarport provides a compact multi-assets crypto wallet, and conducts and anchors the services and operations for Stellar Decentralized Exchange. Litemint will soon become a key player in the blockchain-based markets, merging $68.5 billion mobile gaming industry with blockchain technology. Litement will work towards providing gamers with a platform where…

New York Governor Proposes Giving Financial Watchdog More Teeth

boss

New York governor Andrew Cuomo wants to give the Department of Financial Services (NYDFS) more powers in regulating certain licensed entities, including cryptocurrency startups. Cuomo presented his 2020 “state of the state” plan on Wednesday, publishing a 321-page list of proposals including a new look at exemptions that currently exist for certain consumer financial products and services. While NYDFS, the creator of the notoriously hard to acquire “BitLicense,” can already bring enforcement actions against unlicensed entities, some companies can claim that they are not subject to the regulator because they…

French Regulator Grants its First Approval to an ICO

boss

AMF France, authoritie des marches financiers, the French regulator for the financial markets, posted on its official website details regarding the grant of the first initial coin offering (ICO) in the country. The regulatory approval is a new feature introduced recently by lawmakers and regulators. According to AMF France, the new rules will be ensuring digital asset safety while making sure that companies follow the standard procedures for anti-money laundering practices. Due to regulatory restrictions on cryptocurrencies, Europe is looking at new ways to create a structured framework that ensures…

Ethereum is Currently Undervalued Based on This Key Fundamental Metric

boss

Based on the number of unique addresses created daily, which indicates the rate of growth of Ethereum, the network is demonstrating mid-2019 levels. Yet, the price of ETH is down by nearly two-fold since then. In June 2019, the price of Ethereum was hovering at around $300. And at the time, its network growth was ranging from 100,000 to 150,000 unique addresses daily. Fast forward seven months, ETH is at $140 and the network is growing at just over 100,000 addresses per day. Ethereum’s network growth is on an upward…

Why the Counter Economy Is Necessary to Bitcoin’s Survival as a Disruptive Currency

boss

As Bitcoin is adopted by more and more traditional financial institutions, and becomes regulated by governments worldwide, the question of its survival as a truly disruptive alternative to legacy financial systems is raised. After all, if governments like Qatar’s can ban it, and international banking laws like AMLD5 can push bitcoin-friendly companies out of business, how is Satoshi’s revolutionary P2P cash to survive without a counter economy of willing users who transact freely and autonomously? Also Read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws Counter-Economics and…