The Australian Securities and Investment Commission (ASIC), the nation’s financial watchdog, has given the Raiz micro-investing app, the approval to add a Bitcoin fund to its list of investment services. Raiz says it would invest 95 percent of clients’ money in exchange-traded funds (ETFs), while the remaining 5 percent will be pumped into bitcoin (BTC), according to a Micky report on January 20, 2020. Australia Gets First Functional Bitcoin Fund Raiz Invest Australia was launched in 2016 as Acorns. It has now been given the chance to launch a Bitcoin…
Month: January 2020
Bitfinex Investor’s Crypto Lending Startup Posts $2.3M in 2019 Revenue
China-based RenrenBit, a peer-to-peer cryptocurrency lending and wallet startup, has disclosed it took $600,000 in net income from revenue of $2.3 million in 2019. The startup, founded by well-known Chinese over-the-counter trader Zhao Dong, who’s also an investor in Bitfinex and Binance, published an unaudited income statement on Monday as part of its commitment to revealing financial data when it raised $21 million in a token sale last year. In addition, the 35-member team posted an unaudited balance sheet that shows, as of Dec. 31, it was holding about $168…
Bitfinex Investor’s Crypto Lending Startup Posts $2.3M in 2019 Revenue
China-based RenrenBit, a peer-to-peer cryptocurrency lending and wallet startup, has disclosed it took $600,000 in net income from revenue of $2.3 million in 2019. The startup, founded by well-known Chinese over-the-counter trader Zhao Dong, who’s also an investor in Bitfinex and Binance, published an unaudited income statement on Monday as part of its commitment to revealing financial data when it raised $21 million in a token sale last year. In addition, the 35-member team posted an unaudited balance sheet that shows, as of Dec. 31, it was holding about $168…
The Same Indicator That Flashed Before Bitcoin’s 30% Drop in Nov 2019 Just Hit Again
The Fear and Greed Index (FGI) for crypto is currently neutral at 53. The last time it was at this level, a 30 percent drop occurred for bitcoin in November 2019 from $9,400 to $6,410. The signaling of the indicator follows a swift six percent drop from $9,100 to $8,500, which happened in less than five minutes. Scenario for a significant pullback in the short-term Since late last month, the bitcoin price has increased from $6,410 to $9,200. It achieved a 42 percent rally within 33 days, recording such a…
South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies
South Korea’s Ministry of Economy and Finance is considering imposing a 20% tax on income from cryptocurrency transactions. According to a report published by local English-language news outlet The Korea Times on Jan. 20, the ministry had reportedly ordered its income office to review cryptocurrency taxation. The Korea Times cited an anonymous official who reportedly said that the ministry has not finalized its plan, but noted that the government may impose a 20% tax on crypto income. News of the proposed rate follows reports earlier this month that South Korea…
How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight?
Co-founder Ketuan “Micree” Zhan was stripped of his director role at not only Beijing Bitmain Technology, but the cryptocurrency miner maker’s parent entity, BitMain Technologies Holding Company, corporate records show. A filing of the Cayman Islands–incorporated holding company, submitted Dec. 10, reveals that Zhan’s role as a board director was “ceased” on Oct. 30. That was one day after rival co-founder Jihan Wu returned to the company’s Beijing office and announced the seeming conclusion to a long-running power struggle. The takeover may have lasting effects on the world’s largest bitcoin…
Bitcoin.com Partners With Mecon Cash, Enabling Withdrawal at ATMs Across South Korea
Bitcoin Cash has been added to Mecon Cash’s M.Pay platform which is integrated with over 13,000 ATMs in South Korea. By making bitcoin cash usable for withdrawing won across the country, Mecon Cash is ensuring that BCH users in Korea can always make urgent and small transactions in any place that still does not accept peer-to-peer electronic cash directly. Also Read: First Bitcoin Cash Developers Meeting of 2020 to Be Held Today Bitcoin Cash Integrated Into Platform With Over 13,000 ATMs in South Korea South Korean cryptocurrency company Mecon Cash…
Bitcoin.com Partners With Mecon Cash, Enabling BCH to Korean Won Withdrawal at Over 13,000 ATMs Across South Korea
Bitcoin Cash has been added to Mecon Cash’s M.Pay platform which is integrated with over 13,000 ATMs in South Korea. By making bitcoin cash usable for withdrawing won across the country, Mecon Cash is ensuring that BCH users in Korea can always make urgent and small transactions in any place that still does not accept peer-to-peer electronic cash directly. Also Read: First Bitcoin Cash Developers Meeting of 2020 to Be Held Today Bitcoin Cash Integrated Into Platform With Over 13,000 ATMs in South Korea South Korean cryptocurrency company Mecon Cash…
Bitcoin Is Plunging, But It’s Too Early To Say Bulls Have Given Up
Bitcoin failed to extend gains above $9,200 and started a downside correction against the US Dollar. BTC price tested the $8,500 support and it could bounce back. Bitcoin price is down more than 5% from the $9,186 high against the US Dollar. The $8,500 support area could play an important role in the coming sessions. There was a break below a major ascending channel with support near $8,830 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either bounce back from $8,500 or extend…
Bitcoin Is Plunging, But It’s Too Early To Say Bulls Have Given Up
Bitcoin failed to extend gains above $9,200 and started a downside correction against the US Dollar. BTC price tested the $8,500 support and it could bounce back. Bitcoin price is down more than 5% from the $9,186 high against the US Dollar. The $8,500 support area could play an important role in the coming sessions. There was a break below a major ascending channel with support near $8,830 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either bounce back from $8,500 or extend…