Bitcoin is enjoying fresh gains at the start of 2020 as investors continue to speculate on its potential adoption against a series of geopolitical and macroeconomic letdowns. The benchmark cryptocurrency on Sunday surged beyond $9,000 for the first time in three months, up by 28.32 percent since the start of the year. The gains came as a part of a wider upside momentum that started lat last year. In total, the price rebounded by 43 percent after establishing $6,430 as its local bottom in December 2018. A strong uptrend leads…
Day: January 20, 2020
Bitcoin is Still in Gloomy Bearish Territory Even After a 43% Upsurge, Here’s Why
Bitcoin is enjoying fresh gains at the start of 2020 as investors continue to speculate on its potential adoption against a series of geopolitical and macroeconomic letdowns. The benchmark cryptocurrency on Sunday surged beyond $9,000 for the first time in three months, up by 28.32 percent since the start of the year. The gains came as a part of a wider upside momentum that started lat last year. In total, the price rebounded by 43 percent after establishing $6,430 as its local bottom in December 2018. A strong uptrend leads…
Cardano’s Commercial Arm to Help Uzbekistan Form Blockchain Task Force
The Cardano blockchain’s commercial arm, Emurgo, has partnered with the government of Uzbekistan to form a blockchain task force to develop regulations for security token offerings (STOs) and exchanges (STXs). In a Jan. 20 press release, Emurgo revealed its new cooperation with the Uzbek government and Kobea Group & Infinity Blockchain Holdings — the official Technology Advisory Agency for Uzbekisitan’s Digital Economic Development Project — aimed at the development of a legal framework for STOs and STXs in Uzbekistan. As part of the initiative, Emurgo and Kobea will provide advisory…
Canadian Teen Charged for $50 Million Cryptocurrency Theft
An eighteen-year-old from Montreal is facing four criminal charges connected to a $50 million SIM-swapping scam targeting cryptocurrency holders, Infosecurity Magazine reported on Jan. 17. The hacker, Samy Bensaci, is accused by Canadian authorities of being part of a ring that stole millions of dollars in cryptocurrency from American and Canadian holders. The theft is said to have occurred in spring of 2018, with Québec police representative Hugo Fournier saying that the hackers were responsible for the theft of “$50 million from our neighbors to the south and $300,000 in…
CoinDesk at WEF 2020: Crypto Themes to Watch as Davos Gets Underway
CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Below is the first edition of our pop-up newsletter, CoinDesk Confidential: Davos. Subscribe below. Get your Fourth Industrial Revolution hardhats on – it’s time to ponder the slew of problems ailing today’s global economy! Hello, it’s Monday, Jan. 20, 2020, the preamble to the 50th Annual Meeting of the World Economic Forum begins today. I’m Zack Seward, managing editor of CoinDesk, and I’ll be your…
after Bull Run, Bitcoin Retreats in Tactical Maneuver
BTC/USD is as of now exchanging at $8,623. Over the most recent 24 hours, the coin was in a solid bearish disposition amid falling instability. Bitcoin drove the digital money market on Sunday with a sudden short consolidation that surpassed the desired $9,000 without precedent for 2020. The price came to $9,000, yet the highest price level came to $9,194.99. Consolidating trends between $8,500 and $8,750 level are probably going to come first for the time being. The weekend session was very noteworthy for significant digital forms of money. Every…
Blockstream Co-Founder Joins Bitcoin-Only Start-up River Financial
Industry veteran Jonathan Wilkins, a co-founder of bitcoin tech start-up Blockstream, is joining up-and-coming bitcoin brokerage River Financial as chief security officer (CSO). River is a bitcoin-only financial institution for buying and selling the digital currency (emphatically not an exchange; it says it’s “for the long-term investor”). Currently available only to testers who have received invites, the San Francisco-based outfit is working on an interface it hopes will be as slick as Jack Dorsey’s Square Cash, equipped with automatic recurring buys. Wilkins brings C-level gravitas and cypherpunk bona fides to…
Ripple’s XRP Falls 11% after Rising 45%; More Declines Coming?
XRP has plunged by circa 11 percent after registering superficial gains in the past 30 days. The Ripple’s native cryptocurrency established an intraday low of $0.224 on Monday as traders preferred to exit their long position on small profits. So it appears, the downside move was more a natural bearish correction, especially after XRP’s monstrous price rally that pushed investors’ gains up by 45 percent. The move led some analysts to preserve their bullish bias in the cryptocurrency. GalaxyBTC said in a tweet that he expects XRP to retest $0.3…
Blockstream Co-Founder Joins Bitcoin-Only Startup River Financial
Industry veteran Jonathan Wilkins, a co-founder of bitcoin tech startup Blockstream, is joining up-and-coming bitcoin brokerage River Financial as Chief Security Officer (CSO). River is a bitcoin-only financial institution for buying and selling the digital currency (emphatically not an exchange; it says it’s “for the long-term investor”). Currently available only to testers who have received invites, the San Francisco-based outfit is working on an interface it hopes will be as slick as Jack Dorsey’s Square Cash, equipped with automatic recurring buys. Wilkins brings c-level gravitas and cypherpunk bona fides to…
Indian IT Minister Requests Blockchain Solutions to Improve Government Schools
The Indian Telecoms and IT Minister, Ravi Shankar Prasad, has tasked the National Informatics Centre (NIC) with developing a blockchain-based solution for improving the quality of government schools. According to a Jan. 20 report by the Press Trust of India, the minister made the request at the inauguration of a blockchain technology center of excellence, set up by NIC in Bengaluru, on Jan. 18. Blockchain challenged to transform education The NIC and local state authorities should open their doors for startups working under defined norms, said Prasad. “I am very…