Day: November 6, 2020

More crypto regulation is coming, industry execs say

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Over the past few years, regulatory bodies across the globe have increased their scrutiny on the cryptocurrency space, clarifying gray areas while also going after offenders. Although the industry has seen a lot of regulatory action, authorities have not really changed their positions, at least according to Alex Wearn, CEO and co-founder of decentralized crypto exchange IDEX.  “Crypto regulation itself hasn’t really changed the last few years,” Wearn told Cointelegraph. “Instead what we’ve seen is an increase in enforcement actions, and stronger guidance from regulatory bodies,” he added. “I believe we’ll…

First Mover: Resistance Is Futile as Bitcoin Breaches $15K, Crypto Gets Greedy

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Bitcoin was lower, pausing after after a three-day rally that saw prices approach $16,000, their highest since early 2018.  The recent rally left the largest cryptocurrency up 116% year-to-date, and some bullish digital-asset market analysts were already looking at even higher levels. Denis Vinokourov, head of research at the crypto prime broker Bequant, said in an email that there’s a potential for a squeeze in the options market to push up prices in the next several days.  “This, coupled with continued uncertainty around U.S. election results and the economic fallout…

Square Generates $1B in Bitcoin Revenue in Q3

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On an overall scale, the third quarter’s total company revenue amounted to $3.03 billion, up from $1.27 billion in the third quarter of the previous year. On Thursday at the market close, Square Inc (NYSE: SQ) published in its Q3 investor letter that during the third quarter of 2020, it has realized a Bitcoin revenue of $1.63 billion. This means that the revenue had surged approximately 11x from last year’s third quarter. The App has also seen an increase in Bitcoin transactions, which made it realize $32 million in third-quarter…

SpaceX Launches Its Second GPS III for US Military in 2020

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The latest GPS III generation satellite has been insulated against interference as its jamming technology has been massively improved in addition to the GPS navigation capabilities. Elon Musk‘s rocket company SpaceX has officially launched its GPS III generation satellite for the US military for the second time this year. This is the fourth GPS III generation satellite launched into orbit by the company after its third in June this year, and also, being the first satellite launched for the US military by SpaceX. The latest GPS III generation satellite has…

Coinbase Supports Civic (CVC), Decentraland (MANA), district0x (DNT)

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Over the past months, Coinbase has revealed plans to list new coins on its platform. Many of them are already listed, while some are yet to be listed on the exchange platform. Cryptocurrency exchange Coinbase now supports Civic (CVC), Decentraland (MANA), and district0x (DNT) on its platform. Also, the exchange now allows the three Ethereum tokens on its android and iOS apps. Notably, CVC is a decentralized ID protocol token, MANA is a virtual real estate token, while DNT is a decentralized marketplace token.  CVC, MANA, DNT on Coinbase On…

WhatsApp Partners with Indian Banks to Let Users Transact Cash Easily

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WhatsApp noted that the payment option will be available in the latest version of Android and iOS apps. Facebook Inc (NASDAQ: FB)-backed private messaging company WhatsApp has today announced that people across India can transact cash via the WhatsApp messaging app. According to a blog on WhatsApp official website, the company is working with five top Indian banks to make the initiative a success. The banks include ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank. With the possibility of reaching out to over…

Bitcoin price gets closer to the last big hurdle before $20,000

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While the United States’ election is still undecided, Bitcoin (BTC) is experiencing a major rally, as BTC price nearly reached $16,000 today, the highest level since January 2018. Other asset classes have also been doing well, such as Nasdaq, which saw gains of more than 7% in recent days. In the cryptocurrency markets, Ether (ETH) has started to climb as well, with ETH hitting $445. The last weekly hurdle before a new all-time high is close BTC/USDT 1-week chart. Source: TradingView The weekly chart of Bitcoin is showing the final…

Crypto Scam Site Steals 1.1 Million XRP from Ledger Owners

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Ledger customers are now facing a significant increase in phishing attempts after a major leak of email and private information affected them in early 2020. Crypto scammers have managed to conduct a successful scam that netted at least 1,150,000 XRP from unsuspecting Ledger users. As the world shifts do the digital space to combat the spread of COVID-19, more scammers and cybercriminals have come up. These criminals have attacked almost every facet of the digital space, and cryptocurrencies have not been spared. Ledger customers are now facing a significant increase…

QuadrigaCX Trustee Ernst & Young Unable to Pay $171 Million in Claims

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According to EY’s filing, the company is planning to convert all recovered assets into Canadian dollars. It is also going to allocate funds to Quadriga’s customers depending on cryptocurrency prices from 2019. Ernst & Young (EY), the largest assurance and consulting services company and a trustee for a notorious QuadrigaCX exchange, has revealed it received as many as 17,053 claims filed against Quadriga. Worth $171 million, the claims include about $90.2 million in Canadian dollars and more than $6 million in crypto. In particular, they implicate 24,427 Bitcoin (BTC), 65,457 Ethereum…

Banco Santander and Other Spanish Banks Promote Blockchain-based Digital ID Technology

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Ten banks have joined to build a self-managed digital identity system using blockchain technology thereby giving users higher control over their data. On Thursday, November 5, Spanish banking giant Banco Santander along with top-ten leading banks unveiled a self-managed digital identity (ID) model based on blockchain technology. The project dubbed Dalion successfully completed the concept test and proceeded for the second round of development. Also, as per the current estimates, the project is likely to go live by May 2021. The blockchain-based identity system will give users better control over…