Category: News

Thailand’s biggest shopping center trialing digital currency

Central Retail Corp., a leading firm in Thailand’s retail industry, is testing a digital currency among its employees. After the sandbox phase is finished, the retail giant plans to extend the service to customers and the general public, according to a report by Bloomberg.  The “C-Coin,” a blockchain-powered cryptocurrency, is being offered to 80,000 Central Retail Corp employees around the world as a reward for exceptional performance as a bonus to their usual salary. While holders can use C-Coin to pay for meals and buy items and services from Central…

President Buhari – Emerging Markets Bitcoin News

The Nigerian president, Muhammadu Buhari, suggested in a recent speech that the new e-naira central bank digital currency (CBDC) could lead to an increase in the value of his country’s GDP by $29 billion in ten years. Africa’s First CBDC President Buhari made bold remarks in his speech at Monday’s launch of the e-naira CBDC, stating: “Indeed, some estimates indicate that the adoption of CBDC and its underlying technology, called blockchain, can increase Nigeria’s GDP by US$29 billion over the next 10 years.” In addition to boosting Nigeria’s GDP, President…

Bitcoin suddenly passes $61K as a $1.7K hourly candle fuels BTC bulls

Bitcoin (BTC) delivered another classic surge during Oct. 28 as bulls enjoyed a $1,700 hourly candle. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin suddenly abandons the bears Data from Cointelegraph Markets Pro and TradingView showed BTC/USD breaking back above $60,000 after tracking sideways since early Wednesday. The move meant that the pair cast firm doubt on recent bearish behavior, all but invalidating a head-and-shoulders pattern in line with expectations. As Cointelegraph reported, analysts were already unfazed by Bitcoin’s retracement, with some even increasing their price targets over longer timeframes. #BTC…

FATF Crypto Guidance Looks to Bring Industry in Line With Banks

“We recognize that there are a number of areas where both countries and the private sector have wanted more guidance from the FATF level about how they can implement this in practice,” said FATF Policy Analyst Ken Menz in an interview with CoinDesk. “I think this really shows just how fast the virtual asset ecosystem changes, and how quickly, new technologies, new businesses, new models appear. I think it is a challenge for anyone to just keep on top of everything new that happens in this industry. “ Source

Ethereum-Based Altcoin Blasts Into Stratosphere After Unexpected Launch on Crypto Exchange Coinbase

An altcoin designed to power an automated crypto trading platform is skyrocketing after earning support from the top US crypto exchange, Coinbase. The Ethereum-based crypto asset Kryll (KRL) just shot from a 24-hour low of $1.02 to a high of $1.82 as it became clear that the coin will be listed on Coinbase Pro.   That’s a 78% increase, according to the latest price data from CoinGecko. Kryll is designed to let users browse, build, and test a variety of trading strategies and see how they perform. Traders can use…

Crypto Custody Firm Ledger Expands Institutional Footprint in Switzerland and UK

CryptoX – Cryptocurrency Analysis and News Portal “If you think about the technology companies that are offering custody technology, most of LedgerVault’s competitors are in Switzerland,” said Ledger CEO Pascal Gauthier in an interview. “If you look at Swiss banks, they understand custody and cybersecurity better than your average financial institution, and Switzerland is very advanced compared to other places.” Source The post Crypto Custody Firm Ledger Expands Institutional Footprint in Switzerland and UK appeared first on CryptoX. CryptoX Portal

SEC Will Not Approve Leveraged Bitcoin ETF: Report

The U.S. Securities and Exchange Commission (SEC) will not approve the listing of leveraged bitcoin exchange-traded funds (ETF). The SEC instructed at least one prospective ETF provider not to proceed with their plans for a leveraged funds, the Wall Street Journal reported on Thursday, citing a person familiar with the matter. The U.S. markets regulator wishes to limit bitcoin-related investment vehicles to those that provide un-leveraged exposure – in others words not comprised of borrowed funds. The report emerges two days after Valkyrie Investments filed to offer 1.25x leveraged bitcoin…

Thailand Department Store Chain Is Testing Its Own Cryptocurrency

A Thai department store chain is trialing its own cryptocurrency for use by employees with a view to offering it to customers in the future. Central Retail Corp., Thailand’s biggest shopping center developer, is distributing its blockchain-based “C-Coin” to 80,000 employees on a merit basis to use as a substitute for cash in its stores, Bloomberg reported Thursday. The C-Coin may be expanded to customers once employee testing is complete. Kowin Kulruchakorn, chief innovation officer for Central Retail Corp.’s tech arm, said plans are not settled as to how the…

Volt Equity’s ‘Bitcoin revolution’ ETF goes live on NYSE today

The New York Stock Exchange (NYSE) continues listing Bitcoin (BTC)-linked exchange-traded funds (ETF), with Volt Equity becoming the latest company to debut such a product on the exchange. Volt Equity’s Crypto Industry Revolution and Tech ETF will debut trading on the electronic securities exchange NYSE Arca on Oct. 28, the company’s CEO Tad Park told Cointelegraph. The ETF will be available for trading at market opening under the ticker symbol BTCR. BTCR will open at $21, giving a nod to Bitcoin’s capped supply of 21 million Bitcoin. According to the…

New Bitcoin hash rate highs remove any trace of China mining ban

Bitcoin (BTC) has all but deleted any trace of the mining ban which saw hash rate dive 50% this year. According to the latest estimates, the network hash rate is now back at levels from May, just before China outlawed its Bitcoin mining industry. Hash rate recovers the dip Five months since the largest ever migration in Bitcoin’s history began, network fundamentals have staged a major comeback. Coming in leaps and bounds as miners relocated and started over, the recovery in hash rate and network difficulty is now approaching a…