Business

  • Evercoin 2 Joins the Mobile Hardware Wallet Market

    On November 12, 2019, during the Invest: NYC event, bitcoin wallet and exchange Evercoin announced the launch of a new, mobile-first hardware wallet: Evercoin 2. The new product is available for both iPhones and Android devices and was developed in collaboration with influential, security-oriented hardware manufacturer Yubico.  Evercoin 2 uses the hardware specifications of the popular YubiKey 5Ci authentication device but is sold with proprietary software in order to function with the Evercoin bitcoin exchange. This means that users who already own a YubiKey can extend its functionality to manage BTC keys on the Evercoin platform by simply downloading the software. Also, new users who choose to purchase the Evercoin 2 can still make use of the encrypted password manager and social media/email authentication features for which the YubiKey is best known. “Anyone who already owns a YubiKey 5Ci should absolutely download Evercoin because it’s like getting a free hardware wallet,” Evercoin Co-Founder Miko Matsumura told Bitcoin Magazine.  Evercoin 2 vs HTC Exodus 1s vs BitBox02 The new mobile-native wallet is a direct competitor with HTC’s Exodus 1s phone, which…

    Nov 13, 2019
  • Chinese Blockchain Spending to Exceed $2B by 2023

    China’s spending on blockchain technology will exceed $2 billion in 2023, official state-run publication Xinhua reported on Nov. 10. The report claims that blockchain development in China will see a compound annual growth rate of 65.7% from 2018 to 2023. China’s banking sector responsible for the bulk of blockchain spending in 2019 Citing a study by American market intelligence firm IDC published on Nov. 7, the report says that the bulk of China’s blockchain spending was geared to the banking sector in 2019. Other high-spending industries reportedly included manufacturing, retail, professional services and process manufacturing. Xue Yu, a researcher at the IDC, claimed in the report that official recognition will push blockchain application and generate growth of spending in the sector. Earlier this year, another report suggested that blockchain solutions spending in the Asia/Pacific region excluding Japan will hit $2.4 billion by 2022. Xinhua calls Bitcoin the “first successful application of blockchain technology” After forecasting a solid growth rate for blockchain over the next 4 years, Xinhua published another industry-focused article on Nov. 11. Xinhua, which is by at least…

    Nov 13, 2019
  • Former Cumberland and Circle Traders Pool Money for Crypto Prop Trading

    Dan Matuszewski remembers the early days of cryptocurrency trading, just a handful of years ago. It wasn’t the possibility of a market correction that worried him. It was the risk that the whole business might disappear. “There was always a non-zero chance that bitcoin would gap down, die, and never come back,” Matuszewski, 31, said in a phone interview. Matuszewski, who previously oversaw trading at the cryptocurrency-focused financial company Circle, says he’s now confident enough in the market’s future that he’s teamed up with two partners to pool more than $10 million to start a proprietary-trading firm. They are Bobby Cho, 35, former head of trading at brokerage firm DRW’s Cumberland crypto unit, and Julien Collard-Seguin, 31, a former technology executive at Circle. According to Cho, the new company, called CMS Holdings, started trading in October. The business is registered in the Cayman Islands and doesn’t manage money from outside investors, he said. “We deploy strategies much like a hedge fund in the market, except that we’re not structured as such,” Cho said. The plan is to put 30 percent…

    Nov 13, 2019
  • Alibaba’s Ant Financial Starts Pre-Launch Testing of Business Blockchain

    Ant Financial, the fintech arm of Chinese tech giant Alibaba Group, has launched the testing stage for its blockchain network aimed to support small and medium-sized businesses. Speaking at the World Blockchain Summit at Wuzhen, China, Jieli Li, senior director of technology and business innovation at Ant Financial, said the tech underlying its Ant Blockchain Open Alliance is set to go live three months after the testing period, according to a report from Sina Finance. “While the blockchain is open to developers and institutions from all over the world, we will be cautious in terms of selecting nodes on the platform,” Li stressed in an interview with 8btc.com. The company will include educational and certification agencies as nodes to increase credibility of the network, and choose partners depending their industries rather than which regions they are based in, the exec explained. However, who those firms might be is not yet being disclosed. “We can not disclose the names of our partners who participate in the consortium blockchain at this time,” Li said. Ant Blockchain Open Alliance is aimed to cut…

    Nov 13, 2019
  • Bitcoin Price Jumps Up and Down Resulting in Market Losses of $90 Million

    Bitcoin price spiked and fell suddenly making the markets lose $90 million and everyone believe that a Bitcoin rally is underway. ,

    Nov 13, 2019
  • Australian Man Arrested for Unregistered Crypto Transactions

    Australian law enforcement arrested an unnamed 38-year-old Australian man for performing unregistered cryptocurrency transactions.  The police department of Victoria announced on Nov. 12 that the man has been arrested at his address in the town of Cairnlea. The joint report from the Victoria Police and Australian Transaction Reports and Analysis Centre (AUSTRAC) reads:  “Detectives from the E-Crime Squad have arrested a man today as part of an investigation into unregistered cryptocurrency transactions.”  Money laundering accusations The Cairnlea resident is accused of violation of the Anti-Money Laundering and Counter-Terrorism Financing Act of 2006 for providing an unregistered crypto exchange service and the Criminal Code Act 1995 for dealing with property suspected of being proceeds of crime. During the arrest, law enforcement found a substantial quantity of cash and false identification documents, which were seized along with a cryptocurrency ATM from a shopping center in Braybrook.  The investigation was initiated by reports of scam activity linked to the ATM provided to the police by AUSTRAC. This collaboration between the two agencies is one of the first actions by the E-Crime Squad that…

    Nov 13, 2019
  • Binance to Launch a Crypto Smart Phone

    Binance has partnered with Taiwanese smart phone company, HTC, to launch “the world’s first Binance Chain-ready smartphone for cryptocurrency enthusiasts,” we’re told. EXODUS 1 – Binance Edition allows you to access the Binance DEX through the Trusted Execution Environment (TEE) called the Zion Vault. “​Smartphones will play a key role in the crypto industry, and vice versa,” Changpeng Zhao, Binance’s CEO, said before adding: “Smartphones are the most natural device for a hardware wallet, that can be made simple to use and always with you. Crypto, on the other hand, will make every smartphone both a POS terminal and a payment device, cutting out most other middlemen. The implications are profound and far-reaching.” The cryptophone will go on sale later this month at the price of $599 and comes with a BNB airdrop for a limited number of customers. Phil Chen, Decentralized Chief Officer of HTC says “we are partnering with the biggest and most liquid crypto exchange along with the trust minimized principle of empowering users to own their own keys and run their own full bitcoin node.” Twitter…

    Nov 13, 2019
  • New York Condo Sold For $15.3 Million Paid In Bitcoin (BTC)

    A New York condo was sold for $15.3 million paid Bitcoin (BTC) according to a report released by The Real Deal on November 11.  The deal was performed by the recognized developer Ben Shaoul who sold the property accepting Bitcoin as a means of payment.  New York Condo Sold for $15.3 Million in BTC Although there is no information about the current rate paid by the buyer, $15.3 million would be equal to 1,741 BTC at the time of writing this article with a price per Bitcoin of $8,788.  Shaoul is known as the founder of Magnugn Real Estate Group, a company in charge of the development and management of different residential real estate projects. The 11,400 square foot condo was sold in a top Manhattan location earlier in November. The buyer was not from the United States but it was a Taiwan entity called Affluent Silver International LLC.  In order to process the transaction in Bitcoin, the parties used the popular cryptocurrency payments processor BitPay. The report also mentions that they have used a solution called Starr.  Although Shaoul…

    Nov 13, 2019
  • Investment App Abra Expands US Offerings With 60 New Cryptos

    Abra is expanding its U.S. offerings, adding support for 60 new cryptocurrencies and doubling users’ bank deposit limits. The crypto wallet and investment app provider announced Tuesday that U.S. customers are now able to deposit, withdraw or trade bitcoin SV, DAI and cosmos, among many other crypto assets. Additionally, customer withdrawal and deposit amounts will rise to $4,000 per day, $8,000 per week and $16,000 per month. The service expansion also adds deposit and withdrawal capabilities for at least four stablecoins, including tether, TrueUSD, paxos and DAI, according to the firm. In coming weeks, Abra will open up access to the new assets for users outside the U.S. as well. The additions bring the total number of cryptocurrencies on offer to over 200. Unlike most exchange services, Abra allows users to freely exchange all in-app assets without trading pair limitations. The new options will not include Qtum (QTUM), bitcoin gold (BTG), EOS or OmiseGo (OMG), a spokesperson told CoinDesk. Abra announced earlier this year that its U.S. customers would not be able to hold those particular cryptocurrencies from Aug. 29, due to “regulatory…

    Nov 13, 2019
  • China’s Crypto Revolution to Undermine U.S. Reserve Status, Novogratz Says

    Photo: Acumen_ / Flickr In recent weeks, China appears to be retracting its hard stand against crypto activities within its jurisdiction. Notably, even President Xi Jinping encouraged Chinese investors to take up blockchain and crypto activities in an attempt to diversify the Asian economy. These developments have made billionaire Michael Novogratz warn that the United State’s reserve status might soon be undermined by the Chinese revolution. In his statement, he insists that China is already ahead in various areas including fintech. He believes that the U.S. is just playing catch-up. Warning to China His latest comments come in the wake of a renaissance in China to enhance blockchain development and boost the Yuan into becoming a globalized currency. According to the recent statements by Chinese President Xi Jinping, he pledges support for the nascent industry. President Jinping supporting the industry shows that the government has taken a bullish stand on the issue. As we published, the president and his government are considering exploiting the potentials that blockchain and crypto technologies have to offer. Huawei and the Chinese Central Bank signed…

    Nov 13, 2019
  • Bittrex to return frozen funds to Iranian users after 2 years |

    Crypto exchange Bittrex will return funds to Iranian users that were frozen for nearly two years due to US regulations. Bittrex to return funds to Iranian users by March 2020 Bittrex had frozen users belonging to Iranian users in 2017 and now promised them that they would receive their funds back. User Ziya Sadr posted a Tweet that appears to show this promise. The exchange was required by the US Treasury’s Office of Foreign Asset Control (OFAC) to disable accounts of Iranian users. The exchange was not allowed to function in countries sanctioned by the US. In the letter, the platform revealed that it had been permitted to allow its Iranian users to withdraw their funds. This was a result of an application that the exchange filed with US regulators in May 2018. However, users could only withdraw their assets to an exchange or a wallet that was not associated with countries sanctioned by the United States. The letter mentioned that the wallet could not be located in Iran, Syria, Cuba, or the Crimea Region of Ukraine. Other conditions included…

    Nov 13, 2019
  • Lolli Users Can Now ‘Stack Sats’ While Shopping on Alibaba

    Lolli, a bitcoin denominated rewards application, has partnered with e-commerce giant Alibaba to bring their customers the ability to earn a cashback in bitcoin on Alibaba’s singles day. As the most intensive yearly online shopping festival, singles day poses a huge potential for Lolli users to buy goods at a discount whilst earning up to 5 percent of their purchase back in Bitcoin, November 11, 2019. Bitcoin and Commerce Lolli’s tie up with Alibaba is a huge development for the cryptocurrency space as a whole. Alibaba’s founder, Jack Ma, earlier dismissed cryptocurrencies as a bubble while calling blockchain the real innovation. Although Jack Ma has stepped down from his executive position at Alibaba, this is an indication that the world’s largest e-commerce retailing hub is open the concept of cryptocurrency – even if they’re not dealing with it themselves. There will have been real encouragement on the adoption front once companies like Alibaba and Amazon allow for payment in crypto, perhaps through easy processors like BitPay. Earning a reward in crypto is great, but being able to spend it would…

    Nov 13, 2019
  • Ethereum (ETH) Stuck In Range While Bitcoin Is Sliding

    Ethereum price failed to continue above $190 and declined below $188 against the US Dollar. The price is currently correcting higher, but it is likely to face resistance near $187-$188. There is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin is trading with a bearish angle below the $8,950 and $9,000 resistance levels. Ethereum price is trading in a broad range versus the US Dollar, while bitcoin is struggling. ETH price might revisit the $182 range support area in the near term. Ethereum Price Analysis Yesterday, there was a decent increase in Ethereum above the $188 resistance against the US Dollar. ETH even surpassed the $190 resistance area and the 100 hourly simple moving average. However, the price struggled to gain strength above $190 and formed a high near the $192 level. Later, there was a downward move below the $188 support area and the 100 hourly simple moving average. Moreover, the price traded below the 50% Fib retracement level of the upward move from the $180…

    Nov 13, 2019
  • Dow Futures Nervy as Ultra-Rich Brace For 2020 Stock Massacre

    Dow Jones Industrial Average (DJIA) futures traded flat on Tuesday morning. UBS report reveals that 55% of high-net worth investors see a crash before the end of 2020. Millionaire investors are taking the “Warren Buffett” approach and stockpiling cash in preparation for possible downturn. Dow Jones Industrial Average (DJIA) futures were flat ahead of the opening bell on Tuesday, pointing to a nervous open on Wall Street. It comes as high-net worth investors increasingly brace their portfolios for a stock market downturn. According to a new survey by UBS Global Wealth Management, more than half of millionaire investors now expect a downturn before the end of 2020. And they are increasingly stockpiling cash in order to safeguard their portfolios. This defensive play mimics Warren Buffett’s approach who is sitting on a record pile of cash at Berkshire Hathaway. Dow futures struggle for direction on Tuesday Dow futures contracts were sluggish in pre-market trading Tuesday. At 5.11 am ET, US stock futures remained flat. Dow Jones Industrial Average (DJIA) traded flat on Tuesday. Source: Yahoo Finance S&P 500 futures and Nasdaq…

    Nov 13, 2019
  • Bitcoin 90-Day Volume Breaks Bullish Above Peak 2017 Levels

    The Bitcoin market has recently surpassed the activity levels of late 2017, when BTC started its historical rally that shot prices to an all-time high above $19,900. Futures Markets Take Over Spot Trading This time, the BTC market has made a complete recovery from the low volumes in January. The biggest boost comes from the newly launched futures markets, and the heightened activity on BitMEX. The leading futures exchange saw open interest exceed $1 billion several times in the second half of the year. According to a market commentator, Charles Edwards, Bitcoin’s 90-day volume recently broke as high as 40% above 2017’s peak levels. This, he says, ‘has powerful implications’. Massive volume in Bitcoin Guess what? Things are not as they may seem. Shrinking Spot market volume has been more than compensated for. Futures have swallowed the Spot market. BTC 90 day Volume was recently 40% more than the 2017/18 peak. This has powerful implications. pic.twitter.com/LXRoF9NXoG — Charles Edwards (@caprioleio) November 11, 2019 The BTC spot market, which was a source of price discovery for years, has been supplanted by…

    Nov 13, 2019
  • Google’s Impressive Launch Lineup Gives Stadia a Fighting Chance

    Google has announced the Stadia launch lineup of games and it isn’t half bad. Among them are Red Dead Redemption 2, Assassin’s Creed Odyssey, and the first Stadia exclusive, Gylt. Will they be enough to tempt early adopters to the platform? A week away from the release of Google’s first proper foray into gaming, the tech giant has unveiled the lineup of games coming to Stadia at launch. With much still up in the air as to the viability of the platform, notably in terms of performance and latency concerns, this more than respectable roster may very well give Stadia a fighting chance. Source: Google Google Stadia Launch Lineup From Nov. 19, a Stadia subscription grants access to Assassin’s Creed Odyssey, Destiny 2 The Collection, Gylt, Just Dance 2020, Kine, Mortal Kombat 11, Red Dead Redemption 2, Samurai Shodown, Thumper, Tomb Raider Definitive Edition, Rise of the Tomb Raider, and Shadow of the Tomb Raider Definitive Edition. The jewel in the crown is unquestionably Red Dead Redemption 2. Without it, a lackluster veneer would coat the lineup and Google has…

    Nov 13, 2019

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