Day: January 21, 2021

Blockchain Bites: Crypto in the Red, BlackRock Green Lights Bitcoin Futures

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Bitcoin fell to lows last seen on Jan. 11. Some analysts point to Treasury Security nominee Janet Yellen’s ominous “concern” over crypto as the reason for the sell-off. The recent pullback has some formerly bullish analysts, such as Guggenheim, speculating on whether the cryptocurrency could retrace its 2021 gains in the short term. Elsewhere, a Bitcoin copyright debate is driving people to host their own versions of Satoshi’s white paper while BlackRock, the world’s largest asset manager, gave the green light for two of its funds to trade BTC futures.…

Bitcoin White Paper Now Hosted by Everyone From Square to Facebook. Here’s Why

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Some of the Bitcoin community’s most prominent voices (and also Facebook subsidiary Novi) are now hosting the Bitcoin white paper. The move follows legal threats from nChain Chief Scientist Craig Wright levied against the nonprofit that has long hosted crypto’s foundational document. “Yesterday both Bitcoin.org and Bitcoincore.org received allegations of copyright infringement of the Bitcoin whitepaper by lawyers representing Craig Steven Wright,” the nonprofit wrote Thursday morning. (Bitcoin was created by the pseudonymous Satoshi Nakamoto, who has yet to be conclusively identified; Wright has repeatedly made claims that he is…

Bitcoin News Roundup for Jan. 21, 2021

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With bitcoin dropping as traders turn bearish, CoinDesk’s Market’s Daily is back with the latest news roundup. Add Markets Daily to your Alexa Flash Briefing here. This episode is sponsored by Nexo.io. Today’s stories: First Mover: As Bitcoin Flips Bearish, Neither Biden Nor BlackRock Brightens Mood There are many long-term bulls in the bitcoin market. But in the short term?   Proposed FinCEN crypto wallet rulemaking among those affected by U.S. President Joe Biden’s first-day order to freeze all rulemaking. (CoinDesk)  BlackRock gives two funds go-ahead to invest in bitcoin futures (CoinDesk)  Individuals starting…

Bitcoin becoming a cyclical asset, not a hedge, according to JPMorgan strategists

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The Bitcoin (BTC) bull market has put the flagship cryptocurrency on par with cyclical assets as opposed to a hedge against market stress, according to analysts at JPMorgan Chase.  JPMorgan strategists John Normand and Federico Manicardi say anyone betting on Bitcoin as a portfolio diversifier is putting themselves at risk. In a Thursday report obtained by Bloomberg, the strategists called Bitcoin the “least reliable hedge during periods of acute market stress.” They added: “The mainstreaming of crypto ownership is raising correlations with cyclical assets, potentially converting them from insurance to…

Bitcoin, Chainlink, Ethereum Price Prediction, News Analysis, Targets Today

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Coinbase Bump Alert: US Exchange Announces Support for Crypto Asset on Custody Platform

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A new Ethereum-based token is receiving a big boost from Coinbase. The top US exchange just announced that it is now supporting deposits and withdrawals of Rally (RLY). Coinbase is an investor in Rally, which is an incentivization platform designed to allow people to easily create their own branded cryptocurrency on the Ethereum blockchain. The network is designed to connect content creators and fans, who can buy, donate and hold their favorite creator’s coin. The Rally network uses its RLY governance token to compensate users, influencers, and local ambassadors, settle…

NYDFS hosts crypto industry competition to get real-time data on Bitlicensees

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New York’s financial regulator is asking for new tools to gather real-time financial data.  On Thursday, the New York Department of Financial Services announced new details of its coming “techsprint” competition: “The objective of the techsprint is to achieve creative and collaborative prototyping as a step toward smarter regulatory reporting in virtual currency.” Namely, the DFS is using the two-week competition to get better access to data from crypto companies in real time. It’s first question reads: “How can DFS achieve real-time or more frequent access to company financial data…

Bitcoin Websites Asked to Remove White Paper After Craig Wright Claims Copyright Infringement – Bitcoin News

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During the last few days, the cryptocurrency community has been discussing the recent action taken by Craig Wright’s lawyers against web portals that host the original Bitcoin white paper. Recently letters were sent to a number of websites requesting the removal of the paper due to alleged copyright infringement. Bitcoin White Paper Copyright Allegations The digital currency space is dealing with controversy once again, as a number of web portals like bitcoin.org have been sent notices from Craig Wright’s legal team telling them to remove the Bitcoin white paper from…

FX Market Analysis TODAY + Bitcoin ROCKET Emojis?! All USD Forex Pairs Price Analysis November 30

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Banks seem prone to cryptophobia despite growing adoption

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From refusing to bank crypto trading desks to closing accounts held by platforms, the mainstream financial sector appears to be putting up roadblocks to seamless cryptocurrency commerce. Without banking support, exchanges are often forced to depend on other fiat on-ramps to service the deposit and withdrawal needs of their customers. The apparent discrimination against crypto exchanges also goes beyond the refusal of banking services. In countries such as South Korea, banks have increased the level of scrutiny involved in renewing operating licenses for platforms. The cost of compliance for these…