Day: October 29, 2020

Ripple Move to UK or Singapore Possible After Garlinghouse Praises Both Regulatory Authorities

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Ripple CEO Brad Garlinghouse pays tribute to the UK’s Financial Conduct Authority, as well as the Monetary Authority of Singapore. In a tweet, Garlinghouse spoke highly of the way each regulatory authority oversees their respective territories. Going further, Garlinghouse said it’s no wonder that both the UK and Singapore have burgeoning crypto industries. 1/ UK’s FCA and Singapore’s MAS have been leaders for years in providing clarity on using/trading assets – no surprise that both countries have traditional FIs leaning into using this technology. DBS’ (pre)announcement today is a prime…

Iran’s New Crypto Law Requires Miners to Sell Bitcoin Directly to Central Bank

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Iran has reportedly revised the country’s cryptocurrency regulation to require licensed bitcoin miners to sell their coins directly to the central bank for use to fund imports. Iran’s Revised Crypto Law The Iranian government has amended its cryptocurrency regulation to enable the country’s central bank to fund imports with bitcoin legally mined in the country, the government-controlled IRNA news agency reported on Saturday. Iranian publication Financial Tribune conveyed: The measure proposed by the Central Bank of Iran [CBI] and the Ministry of Energy requires licensed cryptominers to sell the coins…

Australia’s Crypto-friendly Platform to Accept Tether during Its IPO 

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Australia’s first capital raising platform to accept AUD and cryptocurrency, which operates an aquaculture farm in Malaysia, is accepting crypto assets in its first initial public offering (IPO). As the part of its capital raising effort before floating on the Sydney Stock Exchange (SSX), STAX – an Aussie crypto-friendly capital raising firm – has announced its client West Coast Aquaculture Group (WCA) would conduct Australia’s first IPO where the Tether digital currency would be accepted as payment. USDT Use In an IPO Is Transformative Besides Australian dollars, Tether (USDT) will…

Bitcoin and Ether Market Update October 29, 2020

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Total crypto market cap lost 1.4 billion of its value for the period since Monday morning and now stands at $395.2 billion. The top ten coins were mostly in red for the last 24 hours with Polkadot (DOT) and Litecoin (LTC) being the worst performers with 5.6 and 5.2 percent of losses respectively. At the time of writing bitcoin (BTC) is trading at $13,296 on the Bitstamp daily chart, ether (ETH) moved down to $392. Ripple’s XRP also fell to $0.246. BTC/USD Bitcoin was trading as high as $13,370 on…

Trump or Biden? Bitcoin wins regardless of US election — Barry Silbert

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Whether it is a Democratic sweep led by Joe Biden or a Donald Trump reelection, Bitcoin (BTC) would likely thrive. Industry executives, including DCG and Grayscale CEO Barry Silbert, say both a Trump or a Biden win would buoy BTC. The optimistic stance of industry execs despite the glaring election risk comes after Grayscale’s Bitcoin study. Trump wins = brrr Biden wins = brrr Either way, bitcoin wins — Barry Silbert (@BarrySilbert) October 28, 2020 Grayscale, a major cryptocurrency investment firm with $7.6 billion in net assets under management, released…

Sony Raises Its Forecast for Operating Income, SNE Shares Up

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The shares of giant electronic company Sony Corporation (NYSE: SNE) are on the verge of breaking out and reaching a new decade all-time high. Notably, Sony Corporation (NYSE: SNE) shares jumped 5.33% during Wednesday’s trading session to close the day trading at $81.60. Additionally, they were up over 2% during Thursday’s premarket in regards to yesterday’s close. The Japanese corporation has had its business thrive through the pandemic and it is expected to continue rising as the global economy recovers. As a result, on Wednesday Sony raised its forecast for its…

Bitcoin Needs One Last Dip Before It Hits $16,000: Analyst

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Bitcoin bulls with a long-term outlook should hold onto their upside positions even as the cryptocurrency plunges lower. It is because the BTC/USD exchange could still resume its uptrend towards $16,000, a level it last touched in January 2018, says an independent analyst who operates under a pseudonymous identity. He nevertheless warned that the pair could still trend lower in the short-term. Bitcoin uptrend continues further into 2020. Source: BTCUSD on TradingView.com Bitcoin uptrend continues further into 2020. Source: BTCUSD on TradingView.com In retrospect, BTC/USD rebounded by almost 41.28 percent…

First Mover: Bitcoin Falls as COVID-19 Surges, ECB’s Lagarde Steps Up, US GDP Hits 33%

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Bitcoin was lower for a second day, even as traditional markets showed signs of stabilization following Wednesday’s sell-off.  Cryptocurrency analysts looked for solace in bitcoin‘s October-to-date return, still at an impressive 22%, during a month when the Standard & Poor’s 500 Index of U.S. stocks has declined by 2.7%. “The sell-off in equities and gold due to rising COVID infections and restrictive lockdowns had only a limited impact on the digital asset,” Lennard Neo, head of research for the cryptocurrency-focused firm Stack Funds, wrote Thursday in a report.  In traditional markets, European…

Binance exchange partner Simplex rolls out Tether to euro offramp

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Simplex, a major crypto-to-fiat payments provider, is adding another fiat offramp to enable its partner exchanges like Binance and Huob to sell major stablecoin Tether (USDT) to the euro. According to an Oct. 29 announcement, Simplex has rolled out new Tether (USDT) offramps across its partner network including major exchanges like Binance, OKEx and Huobi. A Simplex representative told Cointelegraph that the latest development marks the first time when the sell option is enabled for Tether on Simplex, stating: “USDT has been available to purchase through our partner network for…