Crypto Tidbits: ‘Spedn’ Bitcoin At Whole Foods, Cryptocurrency Cynic Flips Bullish, And Bakkt Looms

Another week, another round of Crypto Tidbits. Over the past week, Bitcoin (BTC) has traded in a crazy range, moving between $6,000 and $8,350 in a fashion that seems very reminiscent of 2017. This came as a slew of positive news graced the cryptocurrency and blockchain market. Throughout the past seven days, a startup was revealed to be bringing crypto asset adoption mainstream, Facebook moved one step closer to launching its own blockchain-friendly network, and the financialization of the industry continues to occur. Related Reading: Crypto Tidbits: Binance Bitcoin Hack,…

Crypto Tidbits: ‘Spedn’ Bitcoin At Whole Foods, Cryptocurrency Cynic Flips Bullish, And Bakkt Looms

Another week, another round of Crypto Tidbits. Over the past week, Bitcoin (BTC) has traded in a crazy range, moving between $6,000 and $8,350 in a fashion that seems very reminiscent of 2017. This came as a slew of positive news graced the cryptocurrency and blockchain market. Throughout the past seven days, a startup was revealed to be bringing crypto asset adoption mainstream, Facebook moved one step closer to launching its own blockchain-friendly network, and the financialization of the industry continues to occur. Related Reading: Crypto Tidbits: Binance Bitcoin Hack,…

Platform Allows Users to Send and Receive Cryptocurrency With Gadget of Their Choice

The team behind a private digital currency for secure payments says its goal is to make every consumer their own bank — enabling them to send and receive crypto with the gadget of their choice. Xeonbit says its peer-to-peer technology ensures that every user’s accounts and transactions are “out of reach to any prying eyes.” A feature known as “ring signatures” means public keys are shuffled in order to ensure that particular users cannot be identified once a transaction has taken place. The startup says this is not at the…

Russian Sberbank Demands Client Provide Data on Cryptocurrency Revenue

Russia’s largest bank Sberbank has requested that a client provide information on their income from cryptocurrency, the Russian version of Forbes reported on May 17. Co-founder of cryptocurrency trading platform Toxenbox.io, Vladimir Smerkis, told Forbes that the unnamed client received a letter from Sberbank requiring disclosure of their crypto revenue. The letter based its demand on Federal Law No. 115, “On Combating Money Laundering and Terrorism Financing.” The client had reportedly already informed the bank about their income from exchanging cryptocurrencies. Specifically, Sberbank wanted to know the client’s crypto wallet…

Cryptocurrency Project OneCoin Denies Ponzi and Pyramid Scheme Claims

Cryptocurrency project OneCoin is denying claims that it is a “hybrid ponzi-pyramid scheme” and scam, news outlet Samoa Observer reported on May 14. OneCoin is purportedly a cryptocurrency Ponzi scheme project, that raised hundreds of millions of dollars worldwide by luring investors with the promise of big returns and minimal risk. An investigation by the United States found that the project’s founders had generated 3.353 billion euros ($3.769 billion) in sales revenue. In April, a church in the Pacific nation of Samoa became at the center of scrutiny after ministers…

Mark Mobius Supports Bitcoin (BTC) After Previously Calling Cryptocurrency A “Fraud”

One of the most recognizable figures in investing has had a change of heart in his opinion towards Bitcoin and cryptocurrency. Mark Mobius, cofounder of Mobius Capital Partners, recently spoke in a Bloomberg podcast where he claimed that Bitcoin will be “alive and well” into the future. Despite his current positive attitude towards Bitcoin, Mobius delivered a scathing critique of BTC in May 2018, when he called the currency a fraud. Now, with the price of Bitcoin achieving relative highs and plotting a scorching path of price gains, the long-time…

Hacked Cryptocurrency Exchange Cryptopia Goes Into Liquidation

Cryptopia, the cryptocurrency exchange hit by a major hack in mid-January, has gone into liquidation and suspended trading operations. The news was announced Wednesday by Cryptopia’s assigned liquidator, professional services firm Grant Thornton New Zealand. Cryptopia confirmed the news on Twitter, as well as on its website. Possibly signaling changes afoot, Cryptopia website went under maintenance yesterday without any message to the public on its social media platforms. It was first noticed by a Redditor who asked whether the exchange had been hacked again. Back in January, Cryptopia went offline for…

Samsung’s Budget Smartphones Will Reportedly Have Cryptocurrency and Blockchain Features

Budget smartphones released by South Korean consumer electronics giant Samsung will reportedly feature cryptocurrency and blockchain features, local English-language local media Business Korea reports on May 14. Per the report, the crypto and blockchain-related functionality included in the Samsung S10 will be included in other Galaxy smartphone models. The electronics producer also reportedly plans to cooperate with telecommunications companies on blockchain-based mobile identification cards and local currencies. Chae Won-Cheol, senior managing director of the product strategy team at Samsung Electronics’ Wireless Business Division, reportedly said: “We will lower barriers to…

Algorithmic Cryptocurrency Trading Firm GSR Launches New Bitcoin Halo Option Derivative

Algorithmic cryptocurrency trading firm GSR announced the launch of a new bitcoin (BTC) halo option derivative in a Medium post published on May 13. Per the announcement, the new derivative is an option on the value of a trading account. The trader reportedly pays a premium upfront to buy the option, and the trading account starts with a value of zero. The holder is permitted to do 10 trades per day in the BTC/USD market until maturity. When the option matures, if the value of the account is positive, the…

XRP Tops Cryptocurrency Price Gains After Coinbase and ETN Rollout

United States cryptocurrency exchange Coinbase confirmed it had rolled out XRP trading to New York users in a social media update on May 13. Amid bitcoin’s (BTC) ongoing bull market, XRP topped the day’s best performers on Tuesday following the news, XRP/USD delivering up to 22% gains in the 24 hours to press time. Coinbase Pro had originally rolled out XRP support on its platform in February. The New York addition accompanied news from Europe, with German exchange Boerse Stuttgart revealing it had launched a dedicated exchange-traded note (ETN) for…