Day: March 24, 2020

Mt. Gox Creditors to Meet Tomorrow As Reimbursement Process Inches Forward

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In the latest sign of a step forward in a lengthy compensation process, the infamous hacked Bitcoin (BTC) exchange Mt. Gox appears to be hosting a new meeting for its creditors tomorrow, March 25. In an official announcement posted to the now-defunct exchange’s website on March 24, Mt. Gox’s rehabilitation trustee notified creditors of a new portal through which they will be able to access all documents to be distributed at tomorrow’s meeting. As previously reported, as many as 24,000 creditors are thought to have been affected by Bitcoin exchange…

Fintech Giant Revolut Launches in the US, Initially Without Crypto Support

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United Kingdom-born digital banking app Revolut is launching today, March 24, in the United States — but investors will have to wait for its crypto trading functionality to be up and running. Revolut’s rollout in the U.S. follows a major partnership with Visa back in October, which paved the way for the fintech’s global expansion to 24 new markets, including North America. That same month, it expanded its partnership with Mastercard to further support its U.S. offering. The neobank and smartphone app is already firmly established in Europe — with…

BitAngels Will Go Fully Virtual to Keep Community Active During COVID-19 Outbreak

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The industry’s first angel network for digital currency startups, BitAngels, is launching a series of virtual pitch events to keep investors connected during the global coronavirus pandemic. On March 25, BitAngels founder Michael Terpin said the network’s transition to a fully-online model of collaborations and events aims to keep the blockchain investment community “active and thriving” through uncertain times. (Locked)down but not out While the lockdown across many of the world’s major economies may be unprecedented, Terpin wrote that the model, in some sense, returns the network to “its roots…

Bitcoin Price Eyeing $7,000 After Fed Says it Has ‘Infinite Cash’

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Bitcoin (BTC) and gold showed clear signs of strength on March 24 as the United States Federal Reserve revealed the true extent of its money printing.  Having cleared $6,000 on Monday, BTC/USD went on to hold ground at around $6,500. At the same time, gold rallied, as market analysts suggested its recent selloff was over. Fed: We have “infinite cash” The precious metal traded at around $1,572 at press time, a daily improvement of 1.35%.  Bitcoin versus gold 1-year chart. Source: Skew.com For gold, the rebound echoed behavior during the…

Major Crypto Player-Backed PAC to use Tokens to ‘Vote’ for Candidates

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One of the hot button issues for elections in the United States is separating money and politics. At the center of this topic is political action committees (PACs), organizations that can support candidates or legislation with money raised privately. HODLpac, the PAC founded by Tyler Whirty of the venture capital firm the Takoma Group, may be looking at a new way for Americans to donate to congressional candidates using crypto. By doing so, they may not only demonstrate how blockchain can be utilized for campaign contributions, but also supporting crypto-friendly…

Bitcoin Near Key Fib Extension Resistance, Can Bulls Spark A New Rally?

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Bitcoin is up more than 10% and it broke the key $6,400 resistance against the US Dollar. BTC price is now trading near the $6,650 resistance, above which it could surge to $7,000. Bitcoin is gaining traction and it recently climbed back above $6,200 against the US Dollar. The price is now trading above the $6,400 level, but struggling to clear the $6,650 resistance. Yesterday’s major contracting triangle was breached with resistance near $6,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…

Indian Crypto Exchange CoinDCX Raises $3 Million in Series A Round

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A recent funding round has just added quite a bit to an Indian crypto exchange’s coffers. Mumbai-based exchange CoinCDX announced on March 24 it had received $3 million in new funding. The Series A round was led by Bain Capital Ventures, Polychain, and HDR Group.  CEO and Co-founder of CoinDCX, Sumit Gupta, said that the funding would provide the means for the exchange to further the mass adoption of crypto in India:  “As the country’s largest exchange, we are in a position to drive national crypto adoption forward responsibly. This…

Ripple (XRP) Breaking This Single Level Will Spark a Sharp Rally

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Ripple is showing a few positive signs above the $0.1550 resistance against the US Dollar. XRP price is likely to surge further if it clears the $0.1620 resistance area. Ripple price is up more than 6% and it traded above the key $0.1550 resistance against the US dollar. The bulls are now fighting to clear the $0.1620 and $0.1625 resistance levels. There was a break above a major bearish trend line with resistance near $0.1520 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is…

Ethereum Rallies 10% and Primed To Continue Higher Towards $150

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Ethereum is up around 10% and it traded above the key $130 resistance against the US Dollar. ETH price is likely to continue higher towards the $150 resistance if it clears $140. Ethereum is showing a few positive signs above the $135 level against the US Dollar. The price is now approaching the key $140 resistance area. There was a break above a major bearish trend line with resistance near $126 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is up close to 12% and it…