March 5, 2020

Crypto Lender Babel Hits $380M in Outstanding Loans

March 5, 2020 boss

Chinese cryptocurrency lending startup Babel Finance said it has reached a record of $380 million in outstanding loans as of February. Flex Yang, co-founder of Babel Finance, said on Thursday the firm’s outstanding loans have grown from $52 million-worth of USDT as of Q1 2019 to $289 million as of the end of last year, reflecting the increasing market demand in the crypto lending business amid bitcoin’s price surge since April last year. The firm, incorporated in Hong Kong late 2018 with a main operation in Beijing, has recently closed…

UK Financial Watchdog Retracts Kraken Warning, but BitMEX Caution Stays Up

March 5, 2020 boss

A UK financial watchdog hastily retracted an official warning about Kraken after apparently confusing the exchange with online scammers — but a similar warning about BitMEX remains active. On March 3, the United Kingdom Financial Conduct Authority (FCA) published a notice on its website cautioning citizens that the second-largest U.S. cryptocurrency exchange by volume, Kraken, is not authorized to operate in the U.K. The warning stated the company is “targeting people in the UK”: “We believe this firm has been providing financial services or products in the UK without our…

“Be Prepared to Lose All Your Money” With Bitcoin

March 5, 2020 boss

Investing in cryptocurrencies will always receive some skepticism from officials who started in traditional markets. Today in London, Andrew Bailey expressed this sentiment, arguing anyone putting money into Bitcoin should be prepared to lose the shirt off their back. Bailey gave his thoughts on the cryptocurrency to members of the U.K. Parliament at a Treasury Select Committee hearing on Mar. 4. In a video available to Cointelegraph, Bailey reiterated his past warnings on Bitcoin and cryptocurrencies as a whole before stating: “If you want to buy Bitcoin, be prepared to…

Ripple (XRP) at Major Inflection Point And Candles Warn Bullish Reversal

March 5, 2020 boss

Ripple is following a bullish path above the $0.2320 support zone against the US Dollar. XRP price is likely to accelerate higher above the $0.2400 and $0.2420 resistance levels. Ripple price is slowly climbing higher above the key $0.2350 level against the US dollar. The price is likely to gain bullish momentum above $0.2380 and $0.2400 in the near term. There is a major bullish trend line forming with support near $0.2330 on the hourly chart of the XRP/USD pair (data source from Kraken). The price remains well supported on…

A Critical Ethereum Breakout Is Looming, As Bears Start To Lose Control

March 5, 2020 boss

Ethereum is consolidating above the $220 support area against the US Dollar. ETH price is likely start a major upward move above the $228 and $235 resistance levels. Ethereum is forming a nice bullish formation above the $220 support area against the US Dollar. The price is likely to start a major rally once it settles above $228 and $230. There is a key bearish trend line forming with resistance near $228 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is likely setting up for a…

HODL Waves Chart Reveals Bitcoin Holders’ Firm Grip – 42% Hasn’t Moved in 2 Years

March 5, 2020 boss

According to a report written by Coin Metrics analyst Jacob Franek, as of March 1, 2020, roughly 42% of all BTC has not moved onchain in more than two years. The metric is the largest number since June 2017 and the study notes that “HODL waves” have grown larger. Also Read: Get Ready for the Bitcoin Halving – Here Are 9 Countdown Clocks You Can Monitor 42% of All the Bitcoin in Existence Has Not Moved in Two Years On March 3, Coin Metrics published its “State of the Network”…

HODL Waves Chart Reveals Bitcoin Holders’ Firm Grip – 42% Hasn’t Moved in 2 Years

March 5, 2020 boss

HTC Unveils Privacy Focused 5G Router Than Can Run a Bitcoin Node

March 5, 2020 boss

Electronics giant HTC has announced a new privacy-focused portable 5G blockchain router that enables users to run a full Bitcoin node. Due to arrive by mid-year, the Exodus 5G Hub follows on from the success of the Tawainese manufacturer’s Exodus 1 phones, which also have the ability to run nodes. The Hub provides 5G connectivity to all internet enabled devices and uses Zion Vault software to enable users to store Bitcoin, Ethereum (including ERC-20 and ERC-721 tokens), Binance Coin, Litecoin and Stellar. The software offers security features including social recovery…

Coronavirus Hits Los Angeles But New Yorkers Should Be More Concerned

March 5, 2020 boss

Los Angeles County just announced a state of emergency in response to the coronavirus. New York City, meanwhile, might be even more vulnerable. Both cities are taking precautions to contain the spread of this virus. California announced its first COVID-19 death on Wednesday. On the same day, Los Angeles County declared a state of emergency in response to the coronavirus. Mayor Eric Garcetti announced, I have signed a declaration of local emergency for the City of Los Angeles. While there are only a few known active COVID-19 cases in the…

Estonia Grants License to Chilean Crypto Exchange

March 5, 2020 boss

Chile’s crypto trading platform CryptoMarket has obtained a license issued by the Estonian Financial Intelligence Unit (FIU), allowing it to provide services for the purchase and sale of crypto assets. Founded in 2016, CryptoMarket joins a select group of Latin American crypto companies operating in the region, with Bitso (Mexico) and Mercury Cash (Venezuela) obtaining licenses from Gibraltar and Estonia respectively. The exchange, which has 150,000 users and operations in Chile, Brazil, Argentina, and Europe, had to incorporate a representative in Estonia to obtain the license. It was subject to…