Day: August 20, 2020

No, Crypto Payments Won’t Ruin Russia’s Financial System, Key Players Say

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As Russia is about to officially ban crypto payments within its borders starting on Jan. 1, 2021, Cointelegraph tracked down some senior executives in the crypto industry to talk about the implications of such a ban. Russia’s primary crypto opponent is Anatoly Aksakov, a member of the State Duma and a key architect of Russia’s crypto ban. In mid-August, Aksakov argued that legalizing crypto payments basically “means the destruction of a financial system.” Speaking to Cointelegraph, major global crypto figures like BitGo CEO Mike Belshe and Binance’s head of operations…

“Unscrupulous” Exchanges Accused of Cashing in on Polkadot Redenomination

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Cryptocurrency exchanges have been accused of jumping the gun by redonominating DOT tokens ahead of schedule, confusing traders in the process. In their eagerness to secure more trading fees and attract more users, several leading exchanges have reduced the size of DOT tokens by 100x, 72 hours before they were due to be redenominated. The decision may sound benign but it has had major ramifications for traders who were purchasing DOT under the impression that they were buying a $300 token – not a $3 one. The confusion can be…

Gearing Up For Launch: BlockQuake Taps Crypto Risk Monitoring Firm Solidus Labs To Ensure Market Integrity and Compliance

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The regulatory-driven digital asset trading platform, designed by finance veterans and traders, will harness Solidus’ solutions to remove market manipulation, protect investors and comply with regulatory requirements. August 19, 2020: Solidus Labs, provider of crypto-native market surveillance and risk monitoring solutions, and BlockQuake™, a regulatory-driven digital asset exchange based in New York, announced today they are partnering ahead of the exchange’s upcoming launch. By partnering with Solidus Labs, BlockQuake will be adopting the highest standards of digital asset market surveillance and risk monitoring. Solidus Labs’ tailored software will allow BlockQuake to proactively…

Pro Traders Unfazed by Bitcoin Price Stalling at $12,400, Data Shows

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Bitcoin’s (BTC) recent rejection at $12,400 triggered $234 million in futures contract liquidations across derivatives exchanges. Despite a 30% rally in the past 30 days, maintaining the $11,700 level as support is undecided. Bitcoin hasn’t seen a lower low ever since the mid-March 50% shakedown, which caused the price to test the sub-$4,000 level. Bitcoin USD 4-hour chart. Source: TradingView Surely there have been ups and downs over the past three weeks, although a clear uptrend has been present. Traders’ sentiment certainly wasn’t positive on August 2 after a $1,400…

Evolve Markets Meets Community’s Wish, Adds USDT Accounts

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Evolve Markets, the leading crypto-based margin trading platform delivering secure, direct, and easy access to global financial markets, has added yet another feather to its cap by introducing Tether (USDT) based accounts and deposits. According to the company, following the requests and feedback received from the community, traders can now make direct deposits in the popular USDT tokens and trade a wide range of crypto and traditional markets with USDT stable coin denominated accounts, which allow holding account collateral without being exposed to the volatility generally associated with cryptocurrencies. Deposits…

Ready to Wumbo: LND Enables More, Larger Bitcoin Transactions on Lightning

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Bitcoin’s Lightning Network has reached a significant milestone. An important capacity limit meant to protect users of the nascent protocol is being tweaked, toppling a barrier to entry for companies looking to adopt the novel payment system.  LND, a leading Lightning Network implementation from startup Lightning Labs, has announced it has adopted support for wumbo channels. Going forward, users can deposit more money into Lightning Network channels than before, as well as send larger transactions. Read more: What Is Bitcoin’s Lightning Network? ACINQ’s eclair and Blockstream’s c-lightning both adopted a…

Bison Trails’ New Software Could Make Slashing Penalties a Thing of the Past

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Bison Trails, a Blockchain infrastructure-as-a-service provider, has created double-signing protection software, or DSP, which aims to address the slashing penalties associated with double signing messages. According to the company, many digital asset holders consider slashing penalties to be one of the “main risks” of Blockchain participation, as they make it more difficult for the network to reach consensus. Speaking with Cointelegraph, Aaron Henshaw, CTO and co-founder of Bison Trails, stated that such penalties could be dangerous for anyone participating with their stake in a network as “it represents a place…

Bitcoin Lending Startup BlockFi Pulls $50 Million in New Funding

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BlockFi has managed to attract new funding from investors. At the moment, BlockFi has $1.5 billion in crypto assets on its lending platform and is producing a little less than $10 million per month in revenue. New York-based Bitcoin lending firm, BlockFi announced on August 20 that it has raised $50 million in a new funding round led by Anthony Pompliano’s Morgan Creek Digital. The funding round also saw other participating investors including Valar Venture which led BlockFi’s Series A and B rounds, as well as CMT Digital, Castle Island…

Jobless Claims in U.S. Tops 1 Million in a Week

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Jobless claims in the United States of America have reached the number of 1 million. As the negotiations between Democrats and Republicans are not moving forward people out of job haven’t received help for weeks. Jobless claims in the United States of America have topped 1 million in one week as new data from the Department of Labor revealed. The 1,106,000 job losses filed for the week ended August 15th exceeded the number analysts polled by Dow Jones projected which was pegged at 923,000. The daunting figure shows that the…

CoinShares Hits $B in Assets Under Management, Demand for Bitcoin Up

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CoinShares’ total managed funds have now hit $1 billion, with the volume rising to reflect the growing global interest in cryptocurrency. As the demand for Bitcoin and other cryptocurrencies surges globally, the CoinShares fund hit $1 billion. The Ethereum and Bitcoin fund manager hit the nine-figure mark in assets under management (AUM). With CoinShares, traders can invest in its XBT Provider products. This will enable them to access the crypto market without owning actual cryptos or managing private keys. CoinShares Hits $1 Billion According to CoinShares, investors are convinced to…