Ethereum has flashed signs of immense strength in recent times, as the cryptocurrency was able to rally to highs of $245 while Bitcoin and most other altcoins only saw tempered gains. Although this uptrend has flashed some signs of stalling as it struggles to gain a foothold within the $240 region, analysts are noting that the cryptocurrency’s heavy resistance currently sits around $260. As such, this is the level that bulls are likely to target if they are able to catalyze further upwards momentum in the near-term. Analysts are now…
Month: May 2020
Cryptocurrency News From Japan: May 24
This week’s headlines from Japan included GMO Coin exchange polling customers on their view of digital assets, Lisk opening a base in Japan, Bitflyer showing 2019 net losses, blockchain startup LayerX securing significant funding, and two entities reported successful collaborative blockchain-based securities experiments. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. GMO Coin users pick Bitcoin over XRP GMO Coin, a crypto exchange under Japanese tech outfit GMO, conducted a poll, asking users which crypto asset they think holds the most promising future. …
Dogecoin CEO Elon Musk Launches Humans Into Orbit
Elon Musk, a tech mogul with indirect ties to the crypto industry, sent two humans into orbit on May 30 in the first private, manned space craft launch in history. “The launch will be the first time a private company, rather than a national government, sends astronauts into orbit,” Fox News said in a May 27 brief. “It will also be the first time that astronauts launch from U.S. soil since the final space shuttle mission in 2011.” Ground control to Maj. Musk Known for his leadership of futuristic car…
Buterin and Winklevosses Address Twitter Censorship Battle
Ethereum creator, Vitalik Buterin, and Gemini exchange founders, Cameron and Tyler Winklevoss, expressed their opinions on recent efforts at social media censorship. “I’ve talked before about the rise of corporations regulating governments but here we have Twitter soft-censoring the U.S. president on the grounds of incitement of violence,” Buterin said in a May 29 tweet referencing recent Twitter posts from U.S. President Donald Trump. “This is a major escalation and could be a new chapter in relations between corporations and states,” Buterin added. A tangled mess of tweets, executive orders,…
JPMorgan Chase Settles Crypto Credit Card Lawsuit for $2.5M
Banking giant JPMorgan Chase settled a 2018 lawsuit recently, with a $2.5 total payout — the result of unclear fees charged when using credit cards for crypto purchases. A May 26 court document detailed: “The Court notes that Defendant JPMorgan Chase Bank, N.A., f/k/a Chase Bank USA, N.A. (“Chase” or “Defendant”) has agreed to provide a Cash Settlement Amount of an aggregate of $2,500,000 in cash.” The lawsuit stemmed from lack of clarity In January 2018, JPMorgan Chase quietly altered the terms of use around its credit cards when dealing…
MIT Group Funding Shows Growing Crypto Trading Interest
Floating Point Group, or FPG, a startup delivering institutional crypto traders automation technologies, garnered $2 million of capital from several entities. “It’s becoming clear that sophisticated quantitative traders and platform developers are viewing the cryptocurrency markets as an exciting new opportunity,” FPG CEO John Peurifoy explained in a May 28 statement. The funding goes toward expansion Algorand CEO Steve Kokinos, Seabury Global Markets, AngelList founder Naval Ravikant, and multiple others invested the money into FPG, receiving company stake in return, the statement said. An outfit operating under U.S. governing bodies, FPG…
Bitcoin Will Replace Gold, Crypto Data Analytics Company CEO Says
As the world turns more digital, crypto’s pioneer asset Bitcoin (BTC) could take on gold’s store of value role, according to the CEO and co-founder of Digital Assets Data, an analytics firm. “I see Bitcoin replacing gold as the hardest money for savers with long time horizons,” CEO Mike Alfred told Cointelegraph. “Young people are far more interested in Bitcoin in a world where the economy becomes increasingly online and virtual,” he added. Bitcoin has gained significant status since inception Since its launch over a decade ago, Bitcoin has…
Will Trump’s Social Media Executive Order Help Against Crypto YouTube Bans?
Those in the know expect President Trump to sign a fresh executive order today, imposing greater accountability on social media providers. The order draft, labeled at press time as “Preventing Online Censorship,” brings further clarity to social media industry boundaries, ABC News said on May 28. “This will be a Big Day for Social Media and FAIRNESS!” Trump tweeted on the morning of May 28. The order follows Twitter fact checking efforts Social media powerhouse Twitter recently flagged certain tweets with a fact-check tag. The platform flagged some of Trump’s posts…
OKCoin Grant Dishes $100K to Bitcoin Payment Processor
Completing its second independent developer grant, crypto exchange OKCoin has donated $100,000 to open-source crypto payment processor BTCPay Server. In addition to its worldwide fiat on-ramp/off-ramp focus, the OKCoin exchange sees the importance of furthering the industry’s framework, OKCoin CEO Hong Fang told Cointelegraph, explaining: “We also have a special responsibility to support free or open-source software (FOSS) development which provides the building blocks in which exchanges are built upon.” OKCoin initiated its grant in 2019 OKCoin started up its Independent Developer Grant in 2019, according to a statement provided to Cointelegraph.…
Gemini Exchange Partners With Samsung
U.S. crypto exchange Gemini has partnered with technology giant Samsung Electronics for wallet integration. The partnership means U.S. and Canadian customers can use the Samsung Blockchain Wallet in conjunction with Gemini’s mobile application, a statement provided to Cointelegraph said. The first U.S. crypto partnership The partnership is reportedly the first of its kind. “Gemini is the first U.S. crypto exchange and custodian to partner with Samsung,” the statement said. Cointelegraph reached out to Samsung to confirm details of the partnership, but did not receive a response as of press…