Day: February 19, 2020

Don’t Obsess Over Crypto End-Users, We Still Need Developers to Build the Back End

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Jill Carlson, a CoinDesk columnist, is co-founder of the Open Money Initiative, a non-profit research organization working to guarantee the right to a free and open financial system. She is also an investor in early stage startups with Slow Ventures.  This is the big question facing the cryptocurrency and blockchain technology world. For some, it is the elephant in the room. For others, it is the tantalizing puzzle waiting to be solved. For everyone, it is a matter of survival. A couple of years ago, I wrote a bit about…

Coinbase Becomes Direct Visa Card Issuer With Principal Membership

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Coinbase is now a principal member of Visa, according to a Feb. 19 announcement. This will allow it to issue debit cards without relying on third parties. The membership is an evolution of Coinbase’s current relationship with Visa, with the cryptocurrency exchange providing a Visa-based debit card. Called Coinbase Card, it allows customers residing in the European Union or European Community to spend multiple cryptocurrencies. While the card itself can function globally, it cannot be ordered by people residing outside of the supported areas. Coinbase reports that the card is…

CFTC Letter Provides Little Clarity in Telegram’s Battle With SEC

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Another United States regulatory agency has weighed in on Telegram’s ongoing legal battle with the Securities Exchange Commission. Following a request by the New York Southern District Court, a division at the Commodity Futures Trading Commission (CFTC) has filed a letter with the court on Feb. 18, expressing its views on the complicated case involving Telegram’s digital currency Gram. CFTC says digital currency is a commodity According to the letter, the CFTC’s stance on the case is “relatively straightforward” and stipulates that a “digital currency is a commodity.” Submitted by…

Metric that Accurately Predicted Bitcoin Boom in 2019 Flashes Again

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Bitcoin may have dropped hugely after setting a yearly high near $10,500, but the small bump has not deterred it from pursuing a significant bull run towards $26,000. That is possible, according to Mayer Multiple (MM) – a popular metric that assists traders in identifying speculative bubbles and bearish exhaustion in the crypto market. The technical indicator this month flashed ‘bull’ for the first time since February 2019, noting that bitcoin is at the beginning of a new bubble. New Bitcoin Bubble In retrospect, MM defines the ratio between the…

UK Crypto Exchange Coinfloor Launches ‘No BS’ Service for Bitcoin Beginners

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U.K-based crypto exchange Coinfloor, which made news last year by delisting ethereum to focus solely on bitcoin, is launching a simplified buying service. Going live next month, Coinfloor, the longest-running crypto exchange in the U.K., is providing an “Auto Buy” service aimed at bitcoin newbies and hodlers alike, as opposed to sophisticated trading types. It’s all part of Coinfloor’s “no BS” approach to crypto, said CEO Obi Nwosu, who wants to educate new users, as well as offer full transparency in the form of monthly proof-of-custody audits of all the…

Indian IT Giant Tech Mahindra and Local Gov’t Launch Blockchain Accelerator

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Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, is launching a blockchain accelerator together with the government of the southern state of Telangana.  The parties hope the accelerator will become a “torch-bearer” for future accelerators nationwide, the Economic Times reported on Feb. 19. The new “T-Block Accelerator” is aimed at fostering blockchain startups that have identified a strong real-world use case for the technology, and to boost industry growth overall. Innovation management firm IBC Media will run the accelerator program, which developed following a Memorandum of Understanding (MoU)…

Coinbase Becomes First ‘Pure’ Crypto Firm Approved as Visa Principal Member

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Coinbase, the San Francisco-based cryptocurrency exchange, has been made a Visa principal member. Announcing the news on its blog Wednesday, the firm said the news marks it as the “first pure-play crypto company” to be approved by the credit card giant. Coinbase has been working with Visa since 2019 when it launched its Coinbase Card in the UK. The debit card allows users to spend cryptocurrency as cash anywhere Visa is accepted. The card has since been made available in 29 markets with 10 cryptocurrencies supported. Principal members of Visa are…

Coinbase Becomes First ‘Pure’ Crypto Firm Approved as Visa Principal Member

boss

Coinbase, the San Francisco-based cryptocurrency exchange, has been made a Visa principal member. Announcing the news on its blog Wednesday, the firm said the news marks it as the “first pure-play crypto company” to be approved by the credit card giant. Coinbase has been working with Visa since 2019 when it launched its Coinbase Card in the UK. The debit card allows users to spend cryptocurrency as cash anywhere Visa is accepted. The card has since been made available in 29 markets with 10 cryptocurrencies supported. Principal members of Visa are…

Korean ICO Contents Protocol Shuts Down, Will Return $7.5M to Holders

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The South Korean initial coin offering project Contents Protocol will return 26,877 Ether (ETH) ($7.5 million at press time) to holders of its CPT token. Both legal obstacles and business challenges were cited as reasons for the shutdown. The details are visible on the project’s modified homepage, first recorded on Feb. 19. Its public ICO ended in December 2018 and collected almost 7,000 ETH, which was its funding goal. The remaining 22,000 ETH came from private token sales. The project was combined with a content platform developed by Watcha, the…

Bitcoin Bulls Back in the Driving Seat as Price Crosses $10K

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View Bitcoin jumped above back $10,000 on Tuesday, reinstating the bullish trend and opening the doors for further gains toward $10,500. The bull case would strengthen with a descending channel breakout on the 4-hour chart. A strong rejection at the channel hurdle could yield a re-test of the former resistance-turned-support at $9,825. Bitcoin returned into the five-figure zone on Wednesday, reviving the bullish case and putting recent highs near $10,500 back on the radar. At press time, bitcoin is trading at $10,139, representing a 4.48 percent gain on a 24-hour…