Day: March 12, 2020

Overstock Sued by Shareholder Over Former-CEO’s $90 Million Exit

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Online retailer Overstock is facing a lawsuit from shareholder John Murphy over former CEO Patrick Byrne’s abrupt departure from the company and off-loading of $90 million worth of shares. According to Law360 on March 11, Murphy is seeking records under Section 220 of Delaware General Corporation Law to examine potential violations of duty on the part of Overstock’s directors in connection with Byrne’s actions. The suit states:  “This action seeks corporate books and records to investigate Byrne’s and the board’s role in what appears to be a scheme to cause…

Capitulation: Bitcoin Falls Off a Cliff to $5,600, Crypto Now in “Uncharted Territory”

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There’s no other way to put it: Bitcoin has fallen off a cliff. The cryptocurrency, over the past few hours, has plunged from a comfy price above $7,700 (which now seems extremely high) to as low as $5,600 in the span of a few 15-minute candles. This crash, which caught many traders aback, liquidated some $655 million worth of BitMEX long positions, wiping out many traders across the board. As explained by Bitcoin Jack, former lead analyst at cryptocurrency analysis upstart Bravado, the move was an “insane shock in supply…

Capitulation: Bitcoin Falls Off a Cliff to $5,600, Crypto Now in “Uncharted Territory”

boss

There’s no other way to put it: Bitcoin has fallen off a cliff. The cryptocurrency, over the past few hours, has plunged from a comfy price above $7,700 (which now seems extremely high) to as low as $5,600 in the span of a few 15-minute candles. This crash, which caught many traders aback, liquidated some $655 million worth of BitMEX long positions, wiping out many traders across the board. As explained by Bitcoin Jack, former lead analyst at cryptocurrency analysis upstart Bravado, the move was an “insane shock in supply…

OKCoin Launches Support for Singapore Dollar and Opens Local Office

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OKCoin, one of the world’s oldest cryptocurrency exchanges, is continuing to expand its fiat-to-crypto onramps by adding support of the Singapore dollar (SGD). Starting March 12, OKCoin users can deposit and withdraw Singapore’s official fiat currency — the Singapore dollar — for major cryptocurrencies like Bitcoin (BTC) and Ether (ETH). As the Singapore dollar is also officially accepted in its neighbor country Brunei, individuals and institutions in both jurisdictions are able to start trading their Singapore dollars for crypto, OKCoin announced to Cointelegraph. The Singapore dollar is the third fiat…

French Regulators Propose a European Regulatory Sandbox for Security Tokens

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European businesses may soon have a new jurisdiction in which to experiment with security tokens while regulators evaluate the pros and cons.  France’s markets regulator, the Autorité des Marchés Financiers — or AMF — is considering a regulatory sandbox meant to study the impact of security tokens in the European Union. The AMF announced on March 6 that it proposed a European “Digital Lab” regulatory sandbox allowing local regulators to waive requirements related to security settlements. The regulator hopes that such measures would result in the development of security token…

Ethereum Down 35% as Crypto Market Loses $68.61 Billion in 30 Minutes

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Ethereum, the second-largest cryptocurrency by market capitalization, plunged by a massive 35 percent on Thursday, logging its biggest decline in a day since the 2018 ICO bust. The ETH-to-dollar exchange rate fell from $195.64 to $126.28 in 30 minutes, following the leading cryptocurrency Bitcoin’s frenetic sell-off within the same timeframe. The implosive move downhill led Ethereum’s market capitalization to a fresh year-to-date low of circa $14.98 billion. At its highest, it was $27.37 billion. ETH/USD pulls back mildly after crashing 35 percent | Source: TradingView.com Elsewhere in the crypto market,…

Data protection and coronavirus | ICO

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We all share the same concerns about the spread of the COVID-19 virus. The need for public bodies and health practitioners to be able to communicate directly with people when dealing with this type of health emergency has never been greater. Data protection and electronic communication laws do not stop Government, the NHS or any other health professionals from sending public health messages to people, either by phone, text or email as these messages are not direct marketing. Nor does it stop them using the latest technology to facilitate safe…

This is the “Least Riskiest” Time to Buy Bitcoin, Even After 25% Drop

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Over the past few hours, Bitcoin has performed extremely poorly. As covered by NewsBTC previously, the cryptocurrency has effectively fallen off a cliff, plunging below 2019’s lows of $6,400 to as low as $5,600. This has liquidated $500 million worth of BitMEX longs.  This comes as the S&P 500 and Dow Jones are expected to open 5% down in the next few hours, plunging as the coronavirus crunch increases in intensity due to news from the NBA and Tom Hanks regarding the spread of the virus and its respective illness.…

This is the “Least Riskiest” Time to Buy Bitcoin, Even After 25% Drop

boss

Over the past few hours, Bitcoin has performed extremely poorly. As covered by NewsBTC previously, the cryptocurrency has effectively fallen off a cliff, plunging below 2019’s lows of $6,400 to as low as $5,600. This has liquidated $500 million worth of BitMEX longs.  This comes as the S&P 500 and Dow Jones are expected to open 5% down in the next few hours, plunging as the coronavirus crunch increases in intensity due to news from the NBA and Tom Hanks regarding the spread of the virus and its respective illness.…

Brutal 25% Bitcoin Crash Liquidates $0.5 Billion In BitMEX Longs

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When I woke up just minutes ago and saw the price of Bitcoin, I thought someone had pulled a joke on me; never in a hundred years did I think BTC was going to move that fast. For those who have been living under a rock or sleeping as I have, the price of the leading cryptocurrency has fallen under $6,000 for the first time since May of last year, plunging $2,000 in minutes earlier this hour. As a result, per data from Skew.com, $500 million worth of BitMEX longs…