Day: February 21, 2020

New Settlement Layer to Offer Asian Crypto Institutions Local Alternative to Silvergate Bank

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Legacy Trust’s digital asset division has plans to create the first settlement layer in Asia for institutional investors trading both fiat and cryptocurrencies. First Digital Trust (FDT) announced Friday that its new rapid settlement and clearing network (RSCN) will provide custodian clients, including some of Asia’s most prominent over-the-counter desks and financial institutions, with the means to transfer digital assets seamlessly across the region. Based in Hong Kong, FDT also holds its clients’ funds there because the territory’s regulatory framework allows them to offer a custodial solution for both cryptocurrencies…

Bitcoin Price Drop Mirrors Last Golden Cross Which Led to 170% Gains

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Bitcoin (BTC) may not see a 170% increase after its fifth “golden cross” price event, historical data suggests as markets stay down 8%. Analysis of price movements since 2009 shows Bitcoin has had a total of ten “golden cross” and “death cross” moments in its lifespan.  BTC price dip challenges December 2017 A “golden cross” is when BTC/USD sees its 50-day moving average rise to cross over its 200-day moving average. A “death cross” is the opposite.  As Cointelegraph reported, hopes are currently high that the most recent golden cross…

Fortnite Streamer Ninja’s Young Viewers are Having Violent Outbursts

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Fortnite streamer Ninja recently tweeted about gamer rage. His tweet has prompted mostly negative responses from across the internet. The conversation about the responsibility of being a role model is one that needs to happen now. Fortnite streamer Ninja gets angry at games. A lot. Maybe that’s why he felt the need to defend getting angry about losing in video games. Yesterday, he wrote a tweet on the subject. It was not a well-received tweet. We’ve now had plenty of people sharing the effect that Ninja seems to be having…

Bitcoin Holds Extremely Important Price, Suggesting Rally Back to $10,000 is Possible

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Bitcoin really hasn’t done too well over the past day or two. As detailed in previous market updates from Ethereum World News, the price of the leading cryptocurrency has been subject to extreme volatility, falling from $10,300 to as low as $9,200 (on some exchanges) in the span of a few hours. This dramatic move lower caught traders with their pants down, so to say, with data indicating that the flash crash liquidated over $100 million worth of long and short positions on BitMEX. There is a silver lining in all…

Insolvent Exchange FCoin Had Bitcoin Outflow Problems Just Two Months After Launch: Report

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Cryptocurrency exchange FCoin, which revealed its insolvency this week, may have already been leaking bitcoin as early as July 2018 – just two months after its debut. On-chain analysis and security startup PeckShield released a report on Friday, suggesting FCoin’s bitcoin (BTC) wallets had a significant outflow of nearly 10,000 BTC between July 19 and Aug. 31, 2018 – a time that coincided with the occurrence of the fatal “data error” that FCoin founder Zhang Jian mentioned in his tell-all post on Feb. 17. While announcing that FCoin was insolvent, the…

Ethereum Just Flipped a Crucial Level Into Support, Setting Stage for Explosive Rally

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Ethereum, despite what you may think, did not see a positive 2019. The second-largest cryptocurrency by market capitalization registered a slightly negative performance in 2019, which was starkly contrasted by Bitcoin’s yearly gain of over 90%. This meant that the market for ETH/BTC fell off a cliff, with the price of one Ether falling as low as 0.016 BTC — the lowest the pair had been in years and around 90% below the all-time high well above 0.1 BTC. Though, over the past few weeks, Ethereum has shot higher against…

Illegal Crypto-Bookmakers Pose Risk to Integrity of Hong Kong Horse Racing

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The rise in unregulated cryptocurrency betting markets poses a threat to the integrity of horse racing, warned Hong Kong Jockey Club’s executive director of racing integrity and betting analysis, Tom Chignell, at the Asian Racing Conference in Cape Town. According to a report in the South China Morning Post, Feb. 21, the evolving landscape of cryptocurrency gambling platforms potentially opens the door to race-fixing. Unregulated betting markets require greater scrutiny Cryptocurrency has purportedly fuelled a vastly expanding gambling market, with some operators specializing in offering fixed-odds betting on horse races…

Aussie Blockchain Startup Tells Gov’t Its Tax Laws Are Stifling ICOs

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You need nothing short of “a miracle” to succeed with an initial coin offering (ICO) in Australia, a local industry leader told the government this week. At a Select Committee on Financial Technology and Regulatory Technology hearing on Feb. 20, Dr. Jemma Green said her blockchain firm had succeeded despite, not thanks to, government policy.  Dr. Green is the executive chairman and co-founder of Australian blockchain energy firm Power Ledger, which develops blockchain-based software for decentralized energy trading. ZDnet reported her remarks on the day of the hearing. Tax system…

Riot Blockchain Plans Sale of Crypto Exchange as It Invests More Millions in Bitcoin Mining

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Nasdaq-listed Riot Blockchain plans to sell its cryptocurrency exchange RiotX while doubling down on its bitcoin mining businesses.  In an announcement on Thursday, the company said it is considering opportunities to divest itself of the limited assets associated with the exchange, launched in early 2018, due to the regulatory environment, security risks and competition from peers.  “In order to concentrate its focus on cryptocurrency mining, Riot has opted to sunset further development of Riot’s U.S.-based digital currency exchange,” the company said in a statement.  Riot has hired Chicago-based investment bank…

Cult Korean Church Suspected in Local Coronavirus Outbreak

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Officials in Daegu suspect hundreds of additional coronavirus cases could be confirmed in the days to come. Over 400 people from the Shincheonji Church are showing symptoms of the virus. The outbreak started with a single individual at the church. South Korea has become the most infected country by coronavirus just behind China. The nation currently has 204 confirmed cases, but the number can substantially increase in the short-term due to one individual. Cult church that spread coronavirus in South Korea has 8,000 members Shincheonji Church, a cult church located…