Day: February 7, 2020

Price Analysis Feb 7: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ADA, XTZ

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Most major cryptocurrencies are nearing stiff resistance levels, which can result in a few days of consolidation or a minor correction. The institutional investors have maintained their bullish stance on Bitcoin. Though the spot price is yet to hit $10,000, CME Bitcoin futures have already reached the five-figure mark. Additionally, the Bitcoin futures open interest on BitMEX has topped $1.5 billion. This shows that the institutional traders expect the rally to extend further. Morgan Creek Digital Co-Founder Anthony Pompliano meanwhile has said that his idea of Bitcoin acting as a…

FinCEN: Social Media Companies That Tokenize Must Follow the Law

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Social media networks with crypto aspirations must guard their systems against criminal exploitation, the U.S Treasury Department’s deputy fiscal crimes enforcer said at an anti-money laundering (AML) conference. In prepared remarks, Jamal El-Hindi, deputy director of the Financial Crimes Enforcement Network (FinCEN), said these “new payment technologies” need to be held to the same AML standards as existing financial institutions, lest they give lawbreakers a monetary loophole.   Neither Facebook nor its Libra stablecoin were mentioned by name in the prepared remarks. “Social media and messaging platforms and others now focusing…

Asian Crypto Conferences Are Being Delayed For Coronavirus Reasons

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A number of cryptocurrency-related conferences across Asia are being delayed in response to the regional coronavirus outbreak. TOKEN2049, a major crypto event held annually in Hong Kong, is the latest one to postpone its conference. Originally scheduled for mid-March 2020, TOKEN2049 will now instead be taking place on October 7-8, 2020. The TOKEN2049 team announced: “Over the past weeks, we have been monitoring the global developments around the coronavirus closely. Whilst Hong Kong is managing the situation well and has taken strict precautions to contain any potential impact, uncertainty prevails.”…

Bitcoin DeFi Looms Closer as RSK Launches Ethereum Bridge

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The RSK project announced the creation of Token Bridge, an interoperability protocol between the Bitcoin-pegged sidechain and Ethereum, on Feb. 6. It could have important implications for the burgeoning decentralized finance (DeFi) ecosystem. RSK is a smart contract platform attached as a sidechain to the Bitcoin (BTC) blockchain. It uses a wrapped version of Bitcoin called rBTC as its native token. Users acquire the token by depositing BTC into RSK’s bridge wallet, which works as a two-way peg. The team has now opened a similar bridge for the Ethereum blockchain.…

Bitcoin ETFs in Japan: FSA Explains New Rules for Funds Investing in Cryptos

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Japan’s top financial regulator, the Financial Services Agency (FSA), has explained to news.Bitcoin.com its recently adopted rules regarding the creation and sale of cryptocurrency exchange-traded funds (ETFs). Meanwhile, Japan now has a crypto index, launched by major Japanese companies. Also read: US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks Crypto-Focused Funds With the rising interest in cryptocurrencies as an investment option, Japan’s top financial regulator has adopted new guidelines for cryptocurrency ETFs. Japan is often known as one of the most advanced countries when it comes to…

Above $10K: CME Bitcoin Futures Hit 3.5-Month Highs

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Bitcoin futures listed on the Chicago Mercantile Exchange rose to multi-month highs, breaking above $10,000 early Friday. The February contract crossed above the psychological hurdle and printed a high of $10,030 at 11:40 UTC, a level last seen on Oct. 26. The breakout into five figures, however, was short-lived as prices quickly pared gains to trade below $10,000. At press time, the futures are trading near $9,850. The February contract has failed twice in the past 24 hours to keep gains above the $10,000 mark. Prices briefly rose to a…

Bitcoin Price Can Hit $15,800, 2020 BTC Halving Is Just 90+ Days Away

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As the Bitcoin 2020 halving approaches, a new and bullish forecast has put BTC price close to $16,00 before this highly-anticipated day. While there has never been a shortage of Bitcoin bulls, these extremely optimistic forecasts are always worthy of note whenever they are publicized. Recently, a popular crypto trader simply known as Filb Filb made a very interesting bitcoin forecast ahead of the upcoming 2020 halving. Halving or not the market is always awash with bullish predictions for Bitcoin’s value even in the most disappointing bear markets. However, Filb…

Paystand Raises $20M to Be Blockchain-Based ‘Venmo’ for Commercial Payments

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Paystand, a platform using blockchain tech to automate commercial payments, has raised $20 million in Series B funding. Backing the round are a number of VC firms including DNX Ventures, Battery Ventures, Epic Ventures, Commerce Ventures and Wildcat Ventures. Existing investors Leap Global Partners and BlueRun Ventures also took part. Paystand aims to makes complex commercial transactions and payments “as easy and fast for enterprises as Venmo has done for basic consumer-to-consumer transactions,” according to a press release on Thursday. The firm’s service is based on a blockchain network that…

Paystand Raises $20M to Be Blockchain-Based ‘Venmo’ for Commercial Payments

boss

Paystand, a platform using blockchain tech to automate commercial payments, has raised $20 million in Series B funding. Backing the round are a number of VC firms including DNX Ventures, Battery Ventures, Epic Ventures, Commerce Ventures and Wildcat Ventures. Existing investors Leap Global Partners and BlueRun Ventures also took part. Paystand aims to makes complex commercial transactions and payments “as easy and fast for enterprises as Venmo has done for basic consumer-to-consumer transactions,” according to a press release on Thursday. The firm’s service is based on a blockchain network that…