June 2, 2020

Market Wrap: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges

June 2, 2020 boss

Tuesday’s bitcoin price whipsaw can be partially explained by large traders looking to deleverage in the derivatives market. Bitcoin (BTC) was changing hands around $9,512 as of 20:00 UTC (4 p.m. ET), slipping less than 1% over the previous 24 hours. A sudden rally to $10,000 late Monday boosted bullish sentiment as short sellers were squeezed on derivatives exchange BitMEX, the largest such event in eight months. Bitcoin traded as high as $10,430 on Coinbase. However, the market lost steam and bitcoin was then confined to a tight $10,000-$10,100 range…

South Korean Prosecutors Freeze Crypto Wallets of Suspected Child Porn Ring Chief

June 2, 2020 boss

On June 2, a South Korean court ordered a freeze on all the cryptocurrency wallets, securities deposits, and stocks account owned by Cho Ju-bin, the suspected head of Nth Room. Nth Room is a Telegram channel under investigation for circulating child pornography. According to KBS Korea, the Seoul Central District Court Criminal Settlement Division 30, led by Judge Lee Hyun-woo, accepted the request from prosecutors in the South Korean capital to freeze 15 cryptocurrencies wallets that reportedly belong to Cho. The funds within the confiscated are suspected of clarifying the…

Uptrend in Mainstream Crypto Interest Started Last Fall, MIT Startups Says

June 2, 2020 boss

Cryptocurrency has seen a rise in mainstream attention starting last fall — before COVID-19 measures took off, according Floating Point Group, or FPG, an algorithmic trading technology startup conceived at MIT. “An increasing portion of our inbound prospects are established industry participants coming from FX, equities and derivatives markets,” FPG co-founder Kevin March told Cointelegraph on May 28 after confirming the presence of increased mainstream crypto trading interest. Cryptocurrency opportunity knocking Abiding with U.S. regulation, FPG offers institutional players a number of tools, APIs and other tech for trade automation. March…

Cellphones, Bitcoin & Tools of Anti-Authoritarianism w Alex Gladstein

June 2, 2020 boss

As protests mount in the U.S., we sit down with an outspoken pro-bitcoin, anti-surveillance human-rights advocate. Alex Gladstein is the chief strategy officer of the Human Rights Foundation. He is a powerful voice for the role of bitcoin in combating authoritarianism around the globe. In today’s episode, Gladstein and NLW discuss: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests…

‘I Don’t Live in Vitalik’s Mind’

June 2, 2020 boss

Charles Hoskinson does not know why his fellow Ethereum (ETH) co-founder Vitalik Buterin will not acknowledge the existence of Cardano (ADA) while speaking enthusiastically about other blockchain projects. Ignore fetish In a recent Cointelegraph interview, Hoskinson lamented Buterin ignoring Cardano. Hoskinson said that this ignorance of Cardano’s achievements hurts Ethereum, as everything that Cardano does is open source and could be borrowed by the rival. Ethereum has been plagued by delays in the development of its second generation proof-of-stake platform. When asked directly about about the crux of this tacit…

Ethereum Second-Layer Scalability Still Needs Work, Says Starkware CEO

June 2, 2020 boss

Uri Kolodny, co-founder and CEO of blockchain firm StarkWare, told Cointelegraph that Ethereum second-layer scalability solutions still need some work. Ethereum co-founder Vitalik Buterin claimed on June 1 that the blockchain’s layer-two scaling initial deployment has “basically” succeeded. Kolodny — on the other hand — told Cointelegraph that he is not as convinced: “I wouldn’t pop the champagne bottles just yet, as many of these proposed solutions have at this point been deployed only on Twitter, not on Ethereum Mainnet.” Kolodny admitted that there are many promising developments when it…

Bitcoin surpasses $10,000 achieving the highest level since mid-February

June 2, 2020 boss

The world’s largest cryptocurrency rallied above $10,000 once again amid optimism digital assets will continue to benefit in the wake of unprecedented global fiscal and monetary stimulus. Bitcoin rose about 5% on Tuesday to trade around $10,168 as of 10:05 a.m. in New York. The rally catapulted the coin to its highest level since mid-February. Bitcoin has advanced more than 40% this year, while peer tokens, including Litecoin and Bitcoin Cash, have also posted double-digit gains. Bitcoin still remains about 50% below its all-time high set before the collapse of…

An Inside Look Into the Surprisingly Friendly Rivalry Between Ledger and Trezor

June 2, 2020 boss

Trezor and Ledger, two of the most prominent hardware wallet manufacturers, have long been locked in a rivalry. As part of Cointelegraph’s interview with Charles Guillemet, the CTO of Ledger, he revealed that the relationship is more complex than it may seem at first. Despite the rhetoric, cooperation and respect can be found as well. A collaborative rivalry Guillemet said that he doesn’t know who started the rivalry, as it goes back to the “very beginning of the Ledger and Trezor companies.” “I think things got more serious when I…