Day: February 14, 2020

Need for a Digital Dollar is an “Extremely Important Discussion”

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Treasury Secretary Steven Mnuchin wasn’t the only one to make waves at the U.S. Senate this week when it came to the future of currency. Tom Cotton, a Republican senator from Arkansas, spoke at length regarding digital currency while addressing the cameras and a nominee for the Federal Reserve Board of Governors, Judy Shelton: “We need the digital currency a little bit less I would argue internally, but rather to help preserve the primacy of the dollar worldwide.” When asked how she would protect the dollar as a reserve currency…

Nasdaq, Morgan Stanley Trading Vets Build Startup to Unite Crypto Market Price Ranges

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A group of trading vets from NASDAQ, Visa and Morgan Stanley say they’ve built a liquidity solution for the world’s disparate cryptocurrency markets.  After 18 months of development, their project, Apifiny, came out of stealth Wednesday with a new platform targeting exchanges hampered by low liquidity: ExOne. It is an emerging finances back-end tool tied to technological advances in traditional markets, which, despite their off-chain standing, have myriad advantages over crypto exchanges. “These marketplaces are highly fragmented and remarkably inefficient,” said Co-Chairman David Wield, a former vice chair of NASDAQ.…

New Senior Advisor for Cybersecurity Policy to the SEC Chairman

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After naming Kristina Littman as Chief of the Division of Enforcement’s Cyber Unit in December, the United States Securities and Exchange Commission has introduced more fresh blood to its ranks. On Feb. 13, Nancy Sumption was announced as the successor to Kevin Zerrusen, the former Senior Advisor for Cybersecurity Policy to Chairman Jay Clayton.  Nancy Sumption has worked in cybersecurity and privacy in healthcare and finance in addition to her two decades of public service as an officer and staff judge advocate in the U.S. Air Force, the U.S. intelligence…

Despite Bitcoin’s Key Technical Correction, The 100 SMA Can Trigger A Fresh Rally

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Bitcoin started a downside correction from the $10,500 area against the US Dollar. BTC declined below $10,200, but it is still holding the key 100 hourly SMA. Bitcoin price failed to climb above $10,500 and corrected lower against the US Dollar. There was a sharp dip below the $10,200 level before the bulls protected the 100 hourly SMA. There is a key contracting triangle forming with resistance near $10,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either rally again above $10,300 or…

Blockfolio and TokenTax Join Forces to Make Taxes Easier

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The deadline for filing 2019 taxes in the United States is quickly approaching. Even for those declaring traditional income, the process can be lengthy to say the least. One of the biggest challenges for crypto holders in the US and beyond is how to declare their crypto assets and not run afoul of the IRS. Tax Season for Cryptocurrency Holders Made Simpler  Blockfolio and Token Tax are trying to make this process easier for US residents. TokenTax is a platform for crypto investors which can analyze data from crypto transactions…

Ripple (XRP) Approaching Next Crucial Break: Here’s Why $0.35 Holds Key

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Ripple surged higher and climbed above the $0.3200 resistance area against the US Dollar. However, XRP price is now facing a strong resistance near the $0.3400-$0.3500 area. Ripple price surged to a new 2020 high at $0.3399 before correcting lower against the US dollar. The price is now consolidating gains above the $0.3150 support area. There is a major contracting triangle forming with resistance near $0.3310 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could either surge above $0.3400 or it might start a…

Ethereum Takes a Bit Hit But Uptrend Intact Above This Support

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Ethereum jumped to a new 2020 high at $278 before correcting lower against the US Dollar. ETH is now consolidating and it is likely to continue higher above $275. Ethereum seems to be struggling to clear the $275 resistance area against the US Dollar. The price is currently consolidating gains above the $260 support area. There is a key contracting triangle forming with support near $259 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is currently correcting lower, but it remains supported above $10,000. Ethereum Price…

Sky-High Tesla Stock May Have Met Its Match in the Coronavirus

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  Tesla stock dipped overnight after an annual SEC filing raised concerns about the impact of China’s coronavirus epidemic. This comes shortly after the announcement of a $2 billion stock offering early in the day to raise capital. TSLA bulls are now dealing with the possibility that Elon Musk’s aggressive growth strategy has left the company exposed to an unforeseen supply-chain crisis. After a breathtaking run, Tesla (NASDAQ: TSLA) stock has been the darling of Wall Street. Unfortunately for bulls hoping to see this trend continue, Elon Musk’s EV company…

Blockchain Use Gains Momentum in Oil Industry for Being Safer, Cheaper and Cleaner

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Oil is central to the growth of the global economy and maintenance of political stability. But for an industry that plays such an important role in both shaping and maintaining the world around us, its business model is quickly becoming outdated. As the industry struggles to adapt to the demands of a rapidly changing and politically charged world, some of the largest oil companies are looking to modernize through blockchain.  Moreover, governments around the world are struggling to come to terms with the consequences of climate change, and the extraction…

This My Hero Academia ‘Scandal’ Is Laughably Ridiculous

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My Hero Academia creator Kōhei Horikoshi has been under fire for his choices in names recently. Even after changing the name, people seemed determined to find more controversy in the replacement. Not only was the original controversy overblown, but the subsequent controversies are just ridiculous. Recently there has been a massive amount of controversy surrounding My Hero Academia. The creator of the massively popular manga and anime series came under fire for his choice of names. A character known for experimenting on human beings had a name that sounded like…