Day: July 25, 2020

With $10K Near, Is Bitcoin Price Ready for a Big Breakout Next Week?

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The price of Bitcoin (BTC) held the crucial support level of $9,000, after which a rally to $9,600 occurred, as anticipated in last week’s technical analysis. Nevertheless, the overall market trend for BTC price has not broken out of its range since the halving in May. The support area is $8,800-9,000, while the resistance can be found between $10,100-10,300. The volatility and volume have been decreasing as this range has been narrowing. So when can the market see volatility and big moves again? Crypto market daily performance. Source: Coin360 The…

BTC.top Launches ‘Joint Mining’ Platform, Pitching It as a Cloud Mining Killer

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China-based mining pool Btc.top wants to upgrade the concept of cloud mining, which allows users to mine crypto remotely by buying a certain amount of hash power from a third-party, with what it calls “joint mining.” Announced on July 25, the company’s new “joint mining” subsidiary B.top aims to reduce the risks associated with “popular cloud mining products” by offering more flexibility. Specifically, B.top claims to charge service and maintenance fees to its users only after they have reached the break-even point, meaning that its customers start to share profits…

Bitcoin Gets Status of ‘Money’ Under D.C. Financial Services Law

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In a court case hearing involving the use of Bitcoin for transferring funds for illicit activities of drug trafficking, the District Court of Colombia has considered Bitcoin and cryptocurrencies as “money”. On Friday, July 24, a Federal Court announced that the world’s largest cryptocurrency Bitcoin gets the status of “money” under the Washington, D.C., Money Transmitters Act. Chief Judge Beryl A. Howell wrote for the U.S. District Court of Colombia that money “commonly means a medium of exchange, method of payment, or store of value. Bitcoin is these things”. The…

It Is the China Dream That Hinders Digital Yuan Says Fisco Executive

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China leads the development of central bank digital currency (CBDC ) in the world. Digital yuan has been already tested in some areas in China while Western nations have just started talking about CBDCs. Six central banks such as ECB, Bank of England, Bank of Japan, are collaborating on the research of CBDC and reportedly held the first meeting just in April. Bank of Japan announced at the beginning of this month that they would start testing a digital yen although they didn’t specify when. The United States hasn’t even…

Checklist for Crypto ATM Operators

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The very first Bitcoin (BTC) ATM came to the United States in 2014 to Austin, Texas. This historic event occurred quickly after Canada pioneered the idea in 2013, and the excitement and demand for such ATMs have soared across the globe ever since. There are currently over 8,000 BTC ATMs in more than 70 countries worldwide. In fact, the highest number of Bitcoin ATMs was recorded in the U.S. in 2020, and as of April 2020, approximately 81% of global ATMs were concentrated in North America. Two types of Bitcoin…

New York AG’s Arm Is Long

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A New York State appeals court affirmed on July 9 that the state attorney general’s fraud investigation into iFinex et al. — i.e., iFinex, Bitfinex and Tether Holdings — could continue. Whether that probe will result in litigation against the company that issues Tether (USDT), the world’s most widely used stablecoin, is anyone’s guess, but if it does, it might promote a more regulated stablecoin industry. As Felix Shipkevich, an attorney specializing in cryptocurrency-related legal and regulatory matters at Shipkevich PLLC, told Cointelegraph: “The New York attorney general, NYAG, is…

Spanish Railway Infrastructure Threatened by Ransomware

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Ransomware gang REvil stole over 800 GB of data from ADIF, the Spanish state-owned railway infrastructure manager, after a successful attack deployed on their systems. According to El Español, the authorship of the cyberattack belongs to the well-known ransomware group after they published a post on the official darknet website of REvil on July 22, who boasted of adding another victim. The cybercriminals claimed to have caught over 800 GB in data from the servers of ADIF, although it’s not confirmed how they managed to breach the security of the…

From Enron to Wirecard: How Blockchain Tech Could Have Helped

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Adam Traidman is CEO of BRD, a mobile cryptocurrency wallet. If a global company can successfully hide billions of dollars overnight, we have a problem. If it is rigorously audited by a leading accounting firm, and regulated by one of the most thorough regulatory agencies in the world, yet still manages to cover up the disappearance of billions of dollars, then we have an even bigger problem. I am of course talking about the glaring reports that thrust the balance sheets of German-based card issuer Wirecard into the spotlight in…

STO Ecosystem Starts to Deliver on 2018 Hype

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The general hype circa 2018 proclaimed security tokens as crypto’s killer app. After Bitcoin fell from its $20,000 peak in December 2017, some of the more revolutionary promises of cryptocurrencies had lost their luster — especially after the subsequent collapse of the altcoin market and the mayhem of initial coin offerings. Security token offerings, or STOs, on the other hand, were billed as a more manageable, if still extreme, way of upgrading the dusty old financial systems that back equity trading. A revolution from within finance.  Two years later, and…

2020’s Standout Cryptocurrency Chainlink Reaches Another New Milestone

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Chainlink (LINK), one of the best-performing alternative cryptocurrencies (altcoins) in 2020, saw another statistic reach a record high, namely the number of Twitter followers.  According to market data and research firm CryptoCompare, social media followers of the project are continuously surging past new highs. Researchers at CryptoCompare wrote: “LINK has been one of the standout altcoin performers of 2020 and seems to be going from strength to strength. Its social media followers seem to be growing in tandem as it gains popularity.” Social media metric of Chainlink relative to its…