With bitcoin set for its best-ever January, Markets Daily is back with today’s crypto news roundup. For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS. Source
Day: January 29, 2020
Alleged Launderer of $4B in BTC Vinnik Charged in France After Extradition
French authorities have charged former operator of now-shuttered crypto exchange BTC-e and Russian national Alexander Vinnik. Bloomberg reported on Jan. 28 that Vinnik’s lawyers said that he will remain in France to face his charges following his recent extradition from Greece. According to an unspecified official at the prosecutor’s office, Vinnik was charged with extortion, aggravated money laundering, conspiracy and harming automatic data-processing systems. The legal shuttle One of his lawyers said that after his trial in France has run its course, authorities are expected to send him back to…
SEC Tells Telegram Its Crypto Is Worth Less Than Donuts
On Jan. 27., the Securities and Exchange Commission (SEC) fortified its case against Telegram, saying its Gram token is worth less than donuts. The SEC’s counter In the latest in their battle with Telegram and the Telegram Open Network (TON), the SEC argued in a memo to the Southern District Court of New York: “Telegram offered and sold Grams as securities when it promised to deliver them in exchange for funds pursuant to the Purchase Agreements. That reality will not have changed if the Court permits Telegram to deliver Grams…
Former Coinbase COO Joins Blockchain-Based Lending Firm Figure
Asiff Hirji, the former president and chief operating officer of Coinbase, is the new president of Figure Technologies, the blockchain-based lending firm backed by Morgan Creek Digital. Figure announced Hirji’s addition Wednesday, saying the longtime financial executive will oversee the company’s growth. Figure CEO Mike Cagney said in a statement that the company would be creating a new merchant bank with Hirji’s help. Cagney is perhaps best known for being the co-founder and former CEO of SoFi, the digital consumer finance company. “Asiff has already been a critical advisor to…
Binance’s US Trading Platform to Introduce Staking Rewards
Binance.US, the U.S. cryptocurrency trading platform of major crypto exchange Binance, will introduce stacking rewards in February. According to an announcement published by Binance.US on Jan. 29, staking rewards will be made available for Algorand (ALGO) and COSMOS (ATOM) starting next month. Staking support for more coins to come Furthermore, the exchange announced plans to add other Proof-of-Stake (PoS) coins later. The announcement explains that an easy way to access staking “allows more people to earn rewards for contributing to the network by promoting network security, reducing validation costs.” Furthermore,…
Colorado Gov. Jared Polis to Speak at ETHDenver Conference
Next month’s ETHDenver conference will have the support of the Colorado state government. The major ethereum gathering is set to take place in the Mile High City on Valentine’s Day weekend and will now feature an appearance by Colorado Gov. Jared Polis on Feb. 15. The crypto-friendly former U.S. Congressman will participate in a fireside chat along with other undisclosed state officials. According to ETHDenver organizer John Paller, it’s the event’s first official partnership with state government. “This is the first time we’ve had the Governor’s office and total body…
The National Bank of Cambodia (NBC) to Launch Blockchain-Based, Central Bank Digital Currency (CBDC)
The National Bank of Cambodia (NBC) is to launch a Blockchain-based, peer-to-peer payment and money transfer platform in the next few months, according to the NBC Director-General Chea Serey yesterday. Also known as a Central Bank Digital Currency (CBDC) or some might even coin it a national cryptocurrency. “We are very proud to be one of the first central banks using a blockchain-based application for payment system. Speaking of women, women play a key role in social and economic development; therefore, at the National Bank of Cambodia, we are promoting…
Silvergate Bank Adds 48 Crypto Clients in Q4 Even as Deposits Slip 4%
Silvergate Bank, one of the few U.S. banks openly serving crypto-related businesses, added more crypto clients in the fourth quarter of 2019 but saw deposits and fee income from those clients drop. The La Jolla, Calif.-based bank, which went public on the New York Stock Exchange under the trading symbol SI in November, released its earnings report before the market open on Wednesday. The report lists a 4 percent decrease in deposits from the crypto industry despite the addition of 48 crypto clients. The commercial bank’s overall deposits decreased by…
Binance US CEO Catherine Coley Explains Why Crypto Exchanges Are Rushing Into Staking
The competition around staking is heating up, and the latest entrant is Binance US, which will begin offering staking rewards on two assets with plans to roll out more in the future, according to CEO Catherine Coley. On this episode of The Breakdown, Coley talks with NLW about: Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in…
Bitcoin in Pre-Halving Rally, Could Hit $13,000 before May: Analyst
Those who are looking to exit their bitcoin positions may want to wait for four more months to extract better profits, according to a prominent crypto analysis company. Trading signals provider TradingShot.com said in a note that bitcoin could be worth $13,000 in or before May 2020. It cited the cryptocurrency’s historical price behavior ahead of its halving – a pre-programmed supply cut event that is taking place in the same month – as the core reason behind the potential price rally. Bitcoin 1W Chart TradingShot noted that bitcoin is…