Indicator Shows Bitcoin’s Selloff May be Running Out of Steam

It has been a rocky past day for Bitcoin, with the benchmark crypto posting massive losses as buyers struggle to garner significant momentum. This selling pressure has sent shockwaves throughout the entire cryptocurrency market, causing altcoins to see massive selloffs that have erased the bulk of their recent gains. One trader is specifically noting that the cryptocurrency could be on the cusp of seeing its ongoing selloff come to an end, however, as one indicator points to slowing downside momentum. That being said, the declining delta seems to indicate that…

‘Bitcoin Pope’ faces up to 10 years in jail for running two crypto scams

A securities regulator in the United States, the Texas State Securities Board (TSSB), has detected another batch of alleged cryptocurrency scams. On Sept. 3, Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against two alleged crypto scam schemes known as Forex Birds and PEK Universe. The published order names Kumar Babu Bondesi and Darwin Eric Balusek as the alleged operators of the schemes. According to the TSSB, Balusek is also known under the nickname “Bitcoin Pope.” Operating abroad, the respondents are accused of fraudulent securities…

YFI Token is Running Towards 4 BTC a Piece, Asserts Analyst

YFI, the native token of a fast-forward decentralized finance giant, Yearn Finance, has surged 8,900 percent against Bitcoin since its launch. And now, an analyst says that the cryptocurrency could grow further. Amsterdam-based stock trader Michaël van de Poppe said in his Monday tweet that the YFI price could surge towards 4 BTC per token. The comments followed the DeFi crypto’s 35 percent rally in the last 24 hours, wherein YFI/BTC surged from 2.31 BTC to an intraday high of 3.10 BTC. YFI surged 35% against BTC on growing DeFi…

“Utreexo” Launch Is Making Running Bitcoin Nodes Easier

A new Bitcoin Full Node implementation might help the network become more accessible for anyone to set up and run courtesy the launch of Utreexo last week, reported CoinDesk on Wednesday. Bitcoin Nodes Made Lighter  Developed as part of MIT Digital Currency Initiative (DCI), Utreexo puts the idea of lighter nodes into working code for Bitcoin. The design was first described by Lightning creator Tadge Dryja in 2019 and saw the release of its first version last week. Full Bitcoin nodes act like financial security systems, said Dryja, validating Bitcoin…

Bakkt Bitcoin Futures Smashes Records Two Days Running

Intercontinental Exchange subsidiary, Bakkt, is reporting record numbers of trades for its monthly Bitcoin futures contracts as BTC prices made a new high for the year. The institutional investing platform reported its highest ever figure for Bitcoin monthly futures on Jul. 28 with 11,506 contracts — an increase of 85% over the previous record. The move followed a surge in the underlying asset’s price to a 2020 high of $11,400. On July 29, Bakkt topped the new record with 11,706 contracts traded. “Talk about momentum! We beat yesterday's record with…

As US Banks Running Out of Coins Bitcoin Keeps On Chugging Along

The U.S. economy is experiencing a shortage of coins. With this in mind, the Community State Bank, or CSB, of Milwaukee is offering a five percent premium to customers who turn in coins to one of its locations. Meanwhile Bitcoin (BTC) is not expected to run out of Satoshis anytime soon. CSB announcing “Crazy time”. Source:  CSB Site. COVID-19 is to blame This issue apparently stems from further complications caused by the COVID-19 pandemic. Reasons given include that the U.S. Mint reduced coinage to protect its employees, and that U.S.…

Brock Pierce Running for President to Bring Blockchain Technology to the Forefront

Brock Pierce jumped into the presidential race at the last minute as an independent, which all but guarantees he has no chance against the two majority parties in the US system—so why is the crypto venture capitalist running? Speaking at the Unitize conference on July 7, Brock Pierce discussed his motivations for his sudden entrance into the presidential election. Despite being extremely unlikely to win, Pierce believes his campaign will serve as an inspiration to younger voters as well as highlight the benefits of blockchain. Pierce is concerned with the…

Bitcoin-Friendly Kanye West Running for US President 2020, Taking on Donald Trump and Joe Biden

Kanye West announced on Independence Day that he is running for president of the United States in 2020, taking on Donald Trump and former Vice President Joe Biden. Responding to the bitcoin-friendly singer with 21 Grammy Awards, Tesla and Spacex CEO Elon Musk said West has his full support. Kanye West Running for President 2020 Kanye West is one of the world’s best-selling musicians, with over 140 million records sold worldwide. He announced on July 4 via Twitter that he is running for president in 2020. The pro-bitcoin singer tweeted:…

'Running Drivenet:' Bitcoin Proponent Discusses the Benefits of Drivechain Versus Lightning Network

During the last few days, a number of cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain project, also referred to as “Drivenet.” The Drivechain project has been a work in progress for years now, and just recently Sztorc published a new version of the Drivenet software. On June 29, the Bitcoin proponent John Light tweeted “Running Drivenet” on Twitter, letting the public know about the application’s “important benefits.” During the last five years scaling concepts, offchain networks like Lightning, and sidechains have been both hot and controversial topics. This week,…

Ex-Yang Aide Is Running for Congress with Bitcoin and UBI on His Mind

For would-be U.S. lawmaker Jonathan Herzog, financial exclusion isn’t just a talking point, it’s lived experience. When launching his congressional run, he said, Herzog went to Bank of America and Citibank and tried to open a campaign checking account, but was denied. Herzog saw it as an example of the ways centralized institutions can hold power over people, even someone like him who is privileged.  That’s in part why he’s stumping for open, permissionless financial systems as part of his campaign. “There’s acute urgency to ensure that Bitcoin and cryptocurrency…