Day: February 14, 2020

Tesla is Not Self-Sustainable and Elon Musk Needs to Stop Lying About It

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Just days after Elon Musk said Tesla won’t raise money, the company turned to the capital markets. Tesla was always going to be in need of more cash to fund its future products. This is not the first time Musk lied about raising money. Being the CEO of a publicly-listed company is a tough job. There are many rules a CEO has to follow to keep in line with securities laws. But the rules don’t seem to apply to Tesla (NASDAQ:TSLA) CEO Elon Musk  as he has been able to…

Coinbase Commerce Integrates Dai Cryptocurrency for Merchant Payments

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Coinbase’s merchant payments arm has added support for the dai stablecoin, bringing together online retail and decentralized finance (DeFi). MakerDAO announced Thursday Coinbase Commerce had integrated dai as a payment method, opening the cryptocurrency up to affiliated online merchants and online commerce platforms like Shopify and WooCommerce. The integration will introduce “merchants to a growing segment of the cryptocurrency market, allowing them to bridge the gap between DeFi dapp entrepreneurs and their own “real world” businesses,” according to the blog post. Coinbase Commerce is a free-to-use service for online retailers,…

Ethereum Can Hit $440 But Indicator Warns Altcoin ‘Overbought’

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Ether (ETH) price could continue its gains to hit $440 before resistance kicks in, one analyst has told mainstream media.  Speaking to Bloomberg on Feb. 14, Edward Moya, senior market analyst at online forex broker Oanda Corp, warned that the largest altcoin’s huge gains in 2020 were now looking unstable.  GSI flashes bearish for ETH ETH/USD has more than doubled since Jan. 1, rising from $130 to press time levels of more than $270 — a seven-month high, data from Coin360 and Cointelegraph Markets shows.  This month, it emerged that…

Liquidated Traders are Furious as XRP Crashes 56% on Bitmex

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Entire accounts were wiped out as XRP/USD on the Bitmex exchange tanked. Bitmex is not compensating traders whose stops were not executed. The Crypto Twitter community chimes in on the shocking development. Bitmex is once again grabbing headlines for all the wrong reasons. One of its newest products, the XRP/USD Perpetual Quanto Swap Contract, lost more than half of its value in a blink of an eye. The asset nosedived from $0.32 to $0.14 in one five-minute candle. The frantic downswing liquidated countless traders. Some of them took to Twitter…

OKEx Expands Into India’s Crypto Market via Partnership With Local Exchange

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Despite ongoing uncertainty regarding cryptocurrency regulation in India, major global crypto exchange OKEx has just made another push in the country’s market. On Feb. 14, OKEx partnered with India’s largest cryptocurrency trading platform, CoinDCX, to launch a new crypto futures product in India. As part of the partnership, OKEx will make a major step into the Indian cryptocurrency market, enabling more liquidity with its extensive expertise in developing world-class futures, CoinDCX said in an announcement shared with Cointelegraph. Specifically, the partnership purportedly unlocks CoinDCX’s new crypto futures product, DCXfutures, that…

Russia Leads Multinational Stablecoin Initiative

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Russian President Vladimir Putin is the most influential person in the blockchain industry, according to Changpeng Zhao, the CEO of major cryptocurrency exchange Binance, which added five trading pairs: Binance Coin (BNB), Bitcoin (BTC), Ether (ETH) and XRP at the beginning of December, as well as adding Tether (USDT) later the same month against the Russian ruble. Putin was the first to propose a multinational cryptocurrency along with the Eurasian Economic Union, or EAEU, and BRICS countries after being advised by Vitalik Buterin in the wake of the 2017 cryptocurrency…

Crypto Finance Startup Amber Raises $28M in Series A Led By Pantera, Paradigm

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Amber Group, a Hong Kong-based startup offering a range of cryptocurrency finance services, has raised $28 million in a Series A round. Leading the investment are Paradigm and Pantera Capital, with Polychain Capital, Blockchain.com, Coinbase Ventures and Fenbushi Capital also participating. Existing investor Dragonfly Capital was also on board. Announcing the news on Friday, Amber said the investment funds will be used to expand its operations to meet client demand and add new features to its platform. “While the industry has come a long way, there is still plenty of…

OKEx Partners With Bain-Backed Crypto Exchange to Launch Leveraged Futures in India

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An Indian cryptocurrency exchange has partnered with Malta-based trading platform OKEx to offer futures products specifically for the subcontinent market. Mumbai-based CoinDCX announced Friday that it had formed a strategic partnership under which OKEx will help it develop a new derivative facility – known as DCXfutures – in return for providing OKEx with a foothold in the Indian market. Using CoinDCX’s new derivatives facility, Indian investors will be able to trade futures, with leverage of up to 15x provided by OKEx, on nine cryptocurrencies, including bitcoin, ether, XRP, and litecoin.…

Coronavirus Outbreak is Threatening to Bankrupt China’s Tesla Rival

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The coronavirus outbreak is having a sizable impact on the Chinese economy. Car sales have slumped and will probably stay subdued for the entire year. Chinese electric car-maker—Nio—was already cash strapped, and the coronavirus outbreak will likely push it into bankruptcy. The growing number of coronavirus cases has crippled the Chinese economy. All the industries are negatively affected, but the automobile sector is bearing the full brunt of the economic slowdown. As China continues to struggle to contain coronavirus, carmakers are in for a rough year. While all auto manufacturers…

Bitcoin Tweets Reach 2-Year High as $10K Fuels Google Interest Surge

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Bitcoin (BTC) hitting $10,000 catapulted it back into mainstream consciousness — but internet consumers were paying attention before, data shows. Statistics from monitoring resource Bitinfocharts reveal that in early February, mentions of Bitcoin on Twitter alone spiked to two-year highs. 75,000 Bitcoin tweets per day At the time, BTC/USD traded at around $9,400, having reached its highest level since September 2019 several days previously. Tweets including Bitcoin reached 75,000 on Feb. 2, a huge contrast to standard behavior and the most since early 2018, as markets digested Bitcoin’s precipitous fall…