Bitcoin Price Holds Strong Above $10,800: A Firm Case for Upside

Bitcoin price climbed further higher above the $11,000 resistance against the US Dollar. BTC is currently correcting gains, but dips are likely to remain supported near $10,800. Bitcoin extended its upward move above the $10,900 and $11,000 resistance levels. The price is now forming a strong support above $10,800 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $10,840 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to resume its upside as long…

Consultancy firm to investigate blockchain transactions in QuadrigaCX case

The Canadian law firm representing creditors of the defunct crypto exchange QuadrigaCX has hired consultancy firm Kroll to advance its investigation into $190 million lost in user assets in early 2019. As reported, controversy has engulfed QuadrigaCX following the death of its founder, Gerald Cotten, in December 2018, who had purportedly been the sole person with access to the exchange’s cold wallet holdings.  In a notice to creditors on Sept. 8, Miller Thomson said that Kroll will be working in collaboration with its strategic partner, Coinfirm, which specializes in blockchain…

Australian racing groups probe firm allegedly involved in OneCoin

Australian horse racing officials are investigating a group raising thoroughbreds after its alleged involvement with OneCoin. According to news reports, Racing NSW confirmed it is investigating Phoenix Thoroughbreds while a second group, Racing Victoria, is in contact with international officials regarding the company. The allegations against Phoenix Thoroughbreds stem from witness testimony stating the company’s owner, Amer Abdulaziz Salman, was involved with OneCoin and supposedly stole $161 million. A Phoenix Thoroughbreds spokesman told The Sydney Morning Herald it did not do anything illegal and will cooperate with authorities. The company…

Whistleblower Kidnapped in Ukraine After Accusing Crypto Firm of Exit Scam

A group of people pushed a man into a gray minivan on a dark street. The man yelled, “Help! Help! No!” and pushed against the van. Passersby shouted, “Let him go!” and tried to stop the van. The man was finally stuffed inside and the van left.  This blurry video, apparently filmed by an unidentified witness Wednesday night in Kyiv, Ukraine, and circulated by local news publications Thursday morning, might mark a new chapter in the story of Bitsonar, a crypto investment firm that raised millions of dollars from investors…

Is This the Blockchain Firm That Will Get Enterprise to Finally Embrace Open Networks?

Concordium, an ambitious project whose founders have close links to companies including Volvo, IKEA, Saxo Bank and Nasdaq, is looking to shake up the seemingly glacial world of enterprise blockchain.  The most striking thing about Concordium, which launches its third testnet next month, is the way it pushes what was once anathema to big corporates: public and permissionless blockchains. Businesses, wary of tipping their hands and giving away any competitive advantage, have traditionally preferred the idea of private and permissioned blockchains. But many advocates of blockchain tech believe only open…

Major crypto firm expects Polkadot (DOT) to become a top 3 blockchain

Spartan Black, a major cryptocurrency fund based in Asia, believes Polkadot (DOT) has more fuel left in the tank and could soar in the top-10 list of biggest cryptocurrencies by market capitalization. Since listing on Binance eight days ago, the price of DOT soared by more than 200% and many analysts believe the price could rise significantly higher.  DOT/USDT daily chart. Source: TradingView.com There are several favorable factors buoying the sentiment around DOT. The protocol does not directly compete against the Ethereum Network, it scales rapidly, and as a result,…

Corporate Crypto Reserve Status: Software Firm Snappa Swaps 40% Cash Reserves for Bitcoin

On Monday, Canadian graphics software company, Snappa, revealed that it was holding bitcoin as a reserve asset. Snappa follows the firms Microstrategy and the Canadian restaurant chain Tahini’s by deciding to convert cash reserves into the scarce crypto asset. The graphics software firm Snappa based in Ottawa has joined the trend of companies converting cash reserves into bitcoin (BTC). The company revealed its decision on Monday, August 24, when the company’s cofounder, Christopher Gimmer, wrote a blog post about the move. Additionally, Gimmer also spoke with the journalist, Zack Voell,…