Day: January 10, 2020

Popular Korean Crypto YouTuber Badly Beaten After Threats From Angry Investors

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A South Korean crypto YouTuber was assaulted at his home, with some suggesting the attackers may have been by upset investors. Kyu-hoon “Spunky” Hwang was beaten in an elevator in his apartment block at around 01:00 local time on Friday, according to CoinDesk Korea. Seoul’s Seongdong police station said it was seeking two suspects who attacked Hwang with a blunt weapon and then escaped. While the victim’s injuries are not life-threatening, he’s reported to be receiving treatment in a hospital. “It is judged to be a planned crime aimed at…

‘Something Unforeseen’ to Push Bitcoin Over $20K in 2020

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Bitcoin (BTC) will reach its highest price ever this year due to “unforeseen” events, which will draw in new buyers, one senior cryptocurrency industry executive says. In an interview with Bloomberg on Jan. 8, Sonny Singh, chief commercial officer at payment processor BitPay, claimed BTC/USD would pass its all-time highs of $20,000 in 2020. Singh: a few buyers make a big difference The reason, however, would remain unknown until the bullish surge kicked in. “Something unforeseen that could happen could really move it faster,” he summarized. Supporting his prediction, Singh…

Bitcoin Price to Rise above $20,000 in 2020, Says BitPay’s Sonny Singh

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If there’s one thing that is absolutely sure about the general Bitcoin community, it’s the bullishness. BitPay Chief Commercial Officer Sonny Singh has now added to this bullishness with a $20,000 Bitcoin prediction for 2020. Singh has joined a long list of industry enthusiasts who believe the sky is only the beginning for the world’s king coin. $20,000 Prediction for Bitcoin in 2020 In a recent conversation with Bloomberg’s Taylor Riggs which took place on Wednesday, Singh spoke quite enthusiastically. He said: “This year, I’m going to make a prediction. I think…

Telegram Lawyers Say Proving Data-Privacy Compliance May Take Months

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Lawyers representing the messenger giant Telegram have stated that a review of financial records requested by the United States Securities and Exchange Commission (SEC) will take five to seven weeks to prepare.  In a Jan. 9 court filing, the lawyers explained that they must analyze data protection laws in a number of foreign jurisdictions, greatly lengthening the process. The filing stated that to ensure Telegram’s compliance with all foreign data privacy laws would require an analysis of approximately 4,600 transactions, involving around 770 entities and individuals. A preliminary sample of…

WatchSkins Is Creating Digital Collectibles for Your Wrist

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Watches, like shoes and cars, call tell you a lot about a person. A fan of gold and bling could identify as a crypto investor, while a fan of Disney will strap on a Mickey Mouse watch. Now a company called WatchSkins wants to turn digital wearables into new ways to express yourself – and let you own a piece of unique digital property too. The company, founded by brothers Collin and Justin Knock along with creative director Seth Cheshire, has created a platform for creating, buying and selling watch…

Gold Correlation With Bitcoin is at 4 Year High, And It’s a High Bullish Sign

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The correlation between gold and bitcoin has reached its highest levels since August 2016, according to a new study. Arcane Research, a cryptocurrency-focused data analysis firm, noted a steep direct proportionality between the two rival assets. In a report published on Friday, the firm mentioned that the correlation was “below zero just half a year ago” but strengthened to 0.3 to retest its three-year high. “This will without a doubt strengthen the “digital gold” narrative for bitcoin,” the report added. Correlation between Bitcoin and Gold touches 0.3 | Source: CoinMetrics,…

US Lawmakers Urge FCC to Step Up Its Action Against SIM Swaps

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United States lawmakers have appealed to the Federal Communications Commission (FCC) to hold telecoms providers to account for failing to protect consumers against SIM swap attacks. SIM-swapping — alternatively known as a port-out scam — involves the theft of a cell phone number in order to hijack online financial and social media accounts, enabled by the fact that many firms use automated messages or phone calls to handle customer authentication. On Jan. 9, six Democrats from the U.S. House of Representatives and Senate sent a letter to FCC Chairman Ajit…

A Lawsuit Alleging Tether and Bitfinex Manipulated the Bitcoin Market Has Been Dropped

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A class-action lawsuit alleging Tether and Bitfinex manipulated the bitcoin market has been withdrawn by the plaintiffs. A document filed Jan. 7 in the Western District of Washington shows plaintiffs Eric Young and Adam Kurtz have opted for voluntary dismissal in their case against Tether and Bitfinex’s parent firm iFinex. The case was originally filed on Nov. 22, 2019. The plaintiffs, who both claimed to be bitcoin traders, alleged that Bitfinex and Tether issued inaccurate information and “monopolized and conspired to monopolize the Bitcoin market”. Drawing heavily on the case…

Kik Continues Legal Battle With SEC, Requests Trial Date Definition

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Kik Interactive Inc. requested the formal definition of a trial date for its lawsuit with the United States Securities and Exchange Commission (SEC), as revealed by a Jan. 9 court document. The company was charged by the SEC in June 2019 for conducting an unregistered security issuance with its $100 million initial coin offering (ICO). Kik Interactive is the Canadian developer of the Kik messenger app. It launched a successful ICO in 2017, releasing the Kin token. Though it was presented as a utility token for accessing some features of…

Analyst Predicts Bitcoin at $5,000 in Q1/2020; Here’s Why It is Compelling

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While a strong bull action took the bitcoin rate up by 22 percent this week, there is still a strong likelihood of the cryptocurrency shedding all its gains. Pre-Halving Bitcoin Crashes The sentiments come in the form of a compelling historical pattern brought to notice by Jacob Canfield. TradingView’s top crypto analyst said bitcoin could fall towards $5,000 ahead of the May 2020’s halving event, noting the cryptocurrency’s eerily similar price behavior on the last two occasions. In retrospect, traders’ appetite for bearish positions surged in the months leading up…