Bitcoin Recovers Above $8K After 18th Million Bitcoin Was Mined

Saturday, Oct. 19 — crypto markets are seeing a slight recovery after another downward movement as Bitcoin (BTC) is back to trading above $8,000. Market visualization. Source: Coin360 18 million BTC mined, BTC blockchain hits 600,000 blocks  After trading below $8,000 threshold for most of the day, Bitcoin has seen a sharp recovery to climb above the mark at publishing time. The biggest cryptocurrency is trading at $8,041, up 1.2% over the past 24 hours, according to Coin360. However, Bitcoin is still in red over the past week as its…

“I’m not buying anything,” says Tron CEO Amid Reports of Poloniex Acquisition

Tron (TRX) founder and CEO Justin Sun has possibly refuted recent reports suggesting that he is leading an investment group behind the acquisition of cryptocurrency exchange Poloniex. In a tweet published on Oct. 19, Sun has claimed that he is “not buying anything,” noting that he is an investor and disclosing some of his crypto assets: “Just invest some and help out my friends. Actually I have a huge bag of $BNB, $HT, $OKB etc and bet on all exchanges that support $TRX & $BTT.” As Cointelegraph reported on Oct.…

Regulatory ‘Gray Area’ in China

Earlier in October 2019, Binance announced a fiat on-ramp for crypto trading via Chinese payment services Alipay and WeChat. This move was part of the exchange giant’s peer-to-peer (P2P) trading rollout for Bitcoin (BTC), Ether (ETH) and Tether (USDT) against the Chinese yuan. The public nature of this announcement did bring questions to the fore regarding the use of payment channels like Alipay and WeChat for crypto trading. Alipay did, in fact, release statements distancing itself from cryptocurrency trading activities, with Binance later clarifying that it wasn’t working directly with the aforementioned payment…

Blockchain Voting is Vulnerable to Hacking and Low-Quality Data: Research

Nir Kshetri, a professor of management at the University of North Carolina, has suggested that before blockchain-based voting can be considered safe and trustworthy, some major issues must be resolved. In an article published on Oct. 18, Kshetri claims that “small-scale tests run so far have identified problems and vulnerabilities in the digital systems and government administrative procedures” that must be solved before adopting the technology.  Hard to audit Per the report, such systems need to verify voters’ identities — often by analyzing a portrait photo or video with facial…

ChinaCoin, Digital Dollars & The Collapse of Fiat, What About XRP?

China’s national digital currency is close to launch, many say the first countries to adopt this tech will have the advantage over others as regular fiat faces collapse. Ripple CEO Brad Garlinghouse threw the cat amoungst the pidgeons a few weeks ago on FOX news by stating the fact the US is stalling and could be left behind. Part of the opportunity that they see is, how can the dislodge the US dollar. We do have some of the leading companies here based in the united states doing things around…

Five Reasons Why Bitcoin Watchers Shouldn’t Worry

Overview Pessimistic sentiment has been looming the cryptocurrency markets as we passed the halfway mark of October. Bitcoin has been trading below the 8000 levels again and approaching the month-low levels near 7760. Although the picture may not be so bright now, however, there were some market signs perhaps could clam traders’ nerves down. Bitcoin Tests Critical Levels The prices of bitcoin may look vulnerable on a daily chart, however, if we switch to the weekly chart, it seems that the leading crypto has been testing the uptrend that established since…

Russia Blocks Leading Crypto News Site Cointelegraph

Russia added yet another website to its blocking cart: the leading crypto news site, Cointelegraph. The news of the block goes to show that the Russian censorship program is not backing down and they will do all it takes to keep Russia’s citizens away from any site that – by their definition – could be potentially harmful. While Cointelegraph claims that the crypto news website has been in the Russian blocking cart for about 2 years now (2017 to be precise), it was not until yesterday, October 16th, that the…

Ripple’s XRP Sales Down 73% in Q3 Compared to Previous Quarter

Blockchain payments network Ripple has announced that it sold $66.24 million worth of XRP in Q3 2019 — down a staggering 73.66% compared to the record sale worth of $251.51 million in the previous quarter. According to the third quarterly report released on Oct. 18, Ripple had previously announced the plan to sell XRP tokens slower in Q3, yet still sold less than was intended. Ripple’s XRP sale rate is lower than ETH’s inflation Ripple also stated that “XRP distribution rate since the beginning of the quarter has been lower…

NY District Court Postpones Telegram’s TON Hearing to 2020

The United States District Court for the Southern District of New York has postponed the hearing regarding the Securities and Exchange Commission’s (SEC) injunction filing against Telegram Open Network (TON) and its Gram token to Feb. 18–19, 2020. As Cointelegraph reported recently, following Telegram’s counterclaim on Oct. 16, where the firm argued that its native crypto is not a security and the preliminary injunction should be denied, the SEC has responded with a new filing in the New York Court on Oct. 17. Court hearing postponed to 2020 According to…

Stablecoins Present Serious Regulatory Risks

The G20 finance chiefs of the world agree that global stablecoins give rise to a set of public policy and regulatory risks. On Oct. 18, Reuters reported that the G20, an international forum for the governments and central bank governors from 19 countries and the European Union, have called upon the International Monetary Fund to examine various macroeconomic implications of global stablecoins, including monetary sovereignty issues in its member countries. Members say stablecoins pose a serious risk to global finance Per the report, the nations agreed that global acceptance of…