Business

  • Regulated Swiss Crypto Bank SEBA Opens Doors

    Switzerland-based cryptocurrency bank SEBA has launched its services for professional investors and enterprise clients, according to an official news release published on Nov. 12. As reported, SEBA Bank AG (formerly SEBA Crypto AG) is a fully-regulated institution, having secured a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA) in August of this year. A fully-fledged, regulated crypto bank According to the announcement, the bank’s services are now fully operational for a range of prospective clients, including corporates, asset managers and professional private investors. SEBA will seek to attract clients from selected foreign jurisdictions starting in December. In a statement, SEBA CEO Guido Buhler emphasized that those opening an account with SEBA should be able to take full advantage of the digital asset sector’s potential without having to sacrifice security. He added: “We are proud to have founded a bank within 18 months, raised CHF 100 million [$100.5 million] in capital from investors and obtained a banking and securities dealer license.” SEBA card, five major cryptos and enterprise accounts As part of its account services, SEBA…

    Nov 13, 2019
  • Chinese state media prints Bitcoin overview article |

    Chinese media agency published a detailed Bitcoin overview as the front page of its newspaper on November 11, 2019. “Bitcoin: the first successful application of blockchain technology” Xinhua News Agency is a Chinese state-owned media agency that recently published an article regarding Bitcoin. The crypto-themed article dubbed ” Bitcoin: The First Successful Application of Blockchain Technology” covered many aspects of crypto assets. The news covered areas such as mining, privacy, and the decentralized nature of blockchain technology. The article spoke about Bitcoin by calling it the “first successful application” of blockchain technology. The article called blockchain as the “book of Bitcoin” that records every coin generated as well as all transactions that involve the asset. The article also mentioned that crypto-assets could be used for money laundering and other criminal activities due to their anonymity. Bitcoin does not offer complete anonymity. Moreover, numerous jurisdictions require users to go through KYC and identification methods. Now a regulatory agency in Hong Kong is set to introduce a regulatory framework regarding virtual assets. China has had a very positive outlook towards cryptocurrencies for…

    Nov 13, 2019
  • Banker Who Called Bitcoin ‘Evil Spawn’ Heads BIS Digital Currency Hub

    A former European Central Bank board member will chair a new arm of the Bank of International Settlements (BIS) focusing on digital currencies and financial innovation.  In a press release on Nov. 11, the BIS confirmed Benoît Cœuré would begin chairing the Innovation Hub from January 15, 2020.  BIS eyes impact of “critical trends” “The Hub’s mandate is to identify, and develop in-depth insights into critical trends in technology affecting central banking; develop public goods in the technology space geared towards improving the functioning of the global financial system; and serve as a focal point for a network of central bank experts on innovation,” the release explains.  Cœuré has already presided over a dedicated working group studying stablecoins.  Both the BIS and its chairman Agustín Carstens, although publicly critical of cryptocurrencies such as Bitcoin (BTC), face a rapidly evolving financial environment. China’s central bank, the People’s Bank of China (PBoC) — one of its members — could soon become the world’s first major economy to issue its own digital currency.  Cœuré commented: “I look forward to bringing my expertise to…

    Nov 13, 2019
  • Bitcoin (BTC) Price Turned Sell On Rallies Towards $9K

    Bitcoin price is trading in a bearish zone below the $8,880 and $9,000 resistances against the US Dollar. The price is struggling to recover and it is likely to face sellers towards $9,000. Yesterday’s major bearish trend line is intact with resistance near $8,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). There are a few key supports on the downside near the $8,600 and $8,500 levels. Bitcoin price is facing an increase in selling below $9,000 against the US Dollar. BTC might correct higher, but sellers remain in control near $8,880 and $9,000. Bitcoin Price Analysis Yesterday, there was a decent recovery in bitcoin above $8,850 and $8,900 against the US Dollar. Moreover, BTC climbed above the $9,000 resistance and the 100 hourly simple moving average. However, the upward move was capped by the $9,150 resistance. A high was formed near $9,150 and the price started another decline. It broke many supports near the $9,000 and $8,900 levels. Additionally, there was a close below $8,850 and the 100 hourly simple moving average. Finally, the price…

    Nov 13, 2019
  • iOWN Launches Brand-New Crypto Wallet

    The blockchain-based crowdfunding platform, iOWN, launches its own brand-new crypto wallet, iOWNX.  iOWNX is a multipurpose wallet and investment platform, accessible through the dedicated app or through any web browser. The wallet is able to send, receive, buy and storing iOWN Tokens and Ether as well. Furthermore, the investment platform integrated with iOWNX offers its users access to investment events listed through campaigns.   The campaigns will be updated periodically and will present investment opportunities in various domains including, but not limited to, real estate, consumer staples, healthcare, financial, industrial, and energy.  Wallet users will be able to invest in any asset available on the platform by using the iOWN Token after undergoing the KYC. Also, the iOWNX wallet is set to be user-friendly as well as secure. Therefore, iOWNX comes with a unique and mnemonic 12-words security code, which will allow customers to recover their private keys, without losing access to their funds and assets. On the future updates the app will include fingerprint and OTP security measures. The iOWN Token is based on the ERC-223 token standard, hence not…

    Nov 13, 2019
  • Bitcoin [BTC] Price Fails to Hold Above Weekly Close, $5 Mln Longs Liquidated on BitMEX |

    Bitcoin [BTC] rose $200 on Sunday as price broke above $9000. The psychological positive move along with green across the entire crypto market raises the sentiments of most traders towards the year-end. However, it fails to hold the bullish psychological as the price has fallen back to $8950 levels. The price of Bitcoin [BTC] at 4: 30 hours UTC on 11th November 2019 is $8955. Bitcoin Weekly Close On a weekly scale, even after the positive move, BTC price closed on a red. According to Tone Vays, the weekly chart looks neutral, however, on a bearish count according to sequential analysis. Similarly, on a daily scale as well, the 200-Day inability to break above the 200-Day Moving average brings it closer to a death cross with the 128-Day moving average. He cites that the resistance for a bullish break-out this week out would be around $9600. Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte BTC/USD Weekly Chart on Bitstamp (TradingView) Another Gap Fills on CME on the 4-Hour The change in the price of Bitcoin over the weekend often creates…

    Nov 13, 2019
  • Bitcoin Is Blockchain’s First Success

    The official Chinese state-run Xinhua News Agency has published a report recognizing Bitcoin (BTC) as “the first successful application of blockchain technology.”  Published today, Nov. 11, the coverage is exceptional given China’s abiding hardline stance against decentralized cryptocurrencies, as epitomized by Beijing’s historic September 2017 blanket ban on crypto exchanges and initial coin offerings. Even-handed exposure The Xinhua article is broadly positive and detailed in its coverage of Bitcoin and the history of its development and evolution. It opens by posing the question of whether the coin represents the “inevitable trend of future currency development or just another ‘tulip’ hype?” Given this formulation reproduces a long-standing industry platitude, it arguably leans more toward rhetorical convention than polemic. The article continues to describe the core principles of blockchain as a decentralized, immutable and trustless system for the peer-to-peer transfer of value, covering aspects such as mining, digital scarcity and pseudonymity. It is in regard to this latter — again, similarly to much Western mainstream media coverage of cryptocurrencies — that the article flags up the potential risks of Bitcoin, arguing that…

    Nov 13, 2019
  • Chinese Ecommerce Giant Alibaba Offers Free Bitcoin to US Shoppers

    Yes, you did read that right. The company that refused to let its Chinese users buy bitcoin with Alipay has now teamed up with a New York-based BTC app to offer it for free on ‘Singles Day’. Get Free Bitcoin on Singles Day As part of a drive to motivate shoppers on China’s ‘Singles Day’ yesterday, e-commerce giant Alibaba has partnered will the bitcoin shopping app, Lolli. The unofficial holiday which falls on 11/11 is the Chinese equivalent of America’s Black Friday. According to a company blog post Lolli users were able to earn 5% in bitcoin when they shop with partner Alibaba. The day is massively popular in China where its burgeoning younger generation and nouveau riche want to splash the cash to celebrate their solo status. Lolli’s partnership with Alibaba, which recently warned against crypto payments in China, would allow US-based users who purchase on the Chinese platform to earn a cut in BTC. CEO and co-founder of Lolli, Alex Adelman, stated; “I’m excited to partner with Alibaba on Singles Day and offer the opportunity to earn bitcoin…

    Nov 13, 2019
  • “Real” Adoption: $15.3 Million New York Condo Sold for Bitcoin

    Prominent New York-based real estate founder and developer Ben Shaoul has sold an Upper East Side retail condo for $15.3 million in Bitcoin (BTC), real estate-focused media outlet The Real Deal reports, November 11, 2019. $15.3 Million Condo Sold for BTC Shaoul, the founder of Magnum Real Estate Group – a New York-based residential real estate development and management company – reportedly sold an 11,400 square foot retail condo in a prime Manhattan location earlier this month. Per sources close to the matter, the buyer of the highly-priced real estate property is a Taiwan-based entity called Affluent Silver International LLC. The report adds that the two parties involved in the business deal used Bitpay and Starr to complete the transaction. Eric Hedvat, an executive who represented Magnum said the payment with BTC was a “seamless process.” Notably, this is not Shaoul’s first shave with cryptocurrencies as a medium of payment. According to The Real Deal, in 2018, Magnum went into contract with two other buyers in the same building for two different properties – one is a 624 square foot…

    Nov 13, 2019
  • Manny Pacquiao Token to Launch in IEO on GCOX Exchange

    Filipino boxing champion Manny Pacquiao made international news headlines recently when he announced he was issuing his own cryptocurrency, the PAC token. Now, the PAC token is following the 2019 crypto crowdfunding trend by engaging in an initial exchange offering (IEO), courtesy of Singaporean exchange GCOX. The sale will open on November 12. Pacquiao initially declared his intentions to release a digital token at a free concert for fans in Manila during early September. In between serenading his fans with love songs, the boxer informed them that they could soon buy his merchandise and interact with him on social media using the PAC token. At this point in 2019, conducting an IEO is a well-proven method of drumming up support and interest in a project. Although Binance first kicked off the trend back in 2017 with IEOs for Bread and Gifto, it was in the first quarter of this year that the idea really took hold. The high-profile launch of Bittorrent ignited a new era of crowdfunding, with a reported $3.4 billion now raised through IEOs to date. An Exchange…

    Nov 13, 2019
  • 22 Million Longs Liquidated on BitMEX, Will Bitcoin Price Gain Momentum? |

    As Bitcoin price struggles to cross $9,000, over 21MM Longs have been liquidated on leading derivatives exchange, BitMEX in a span of 6 hours. Furthermore, in 24 hours more than 1396 MM Longs and 1449 MM Shorts have been liquidated. Bitcoin Price Struggles to Cross $9,000 Bitcoin bulls have failed to maintain price levels and about 21MM longs got liquidates in less than 4 hours. While in the present scenario, Bitcoin struggles to cross $9,000, the market sentiment is bullish with December futures contracts selling at $9075 and a high long/short ratio on spot exchanges. Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Source- Datamish On the 8th of November, Bitcoin dropped below $9,000. On the same day, 1.7 MM shorts and 57 Million longs were liquidated on BitMEX. Furthermore, on the 23rd of October, more than 200MM shorts were liquidated on BitMEX. That day Bitcoin price plummeted by 9% reaching $7,546. Bitcoin then regained the $8000 level a day after ending a short bearish cycle. However, Bitcoin’s price briefly passed $8,300 before tumbling to $7,546. A look…

    Nov 13, 2019
  • Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report

    A Canadian bank, which banned its clients from buying Bitcoin (BTC), could now become the first in the country to launch a cryptocurrency exchange.  As innovation economy news outlet The Logic reported on Nov. 11, the Royal Bank of Canada (RBC) is now rumored to be considering the plans. RBC reportedly planning multifunctional exchange RBC is the largest bank in Canada by market capitalization, with $661 billion CAD ($499 billion) in assets under management. According to The Logic, the bank is entertaining the possibility for the exchange to function both for investments and allowing clients to make purchases online and in brick-and-mortar stores. The news follows a previous report that Canada’s central bank wanted to use digital currency in order to better track consumer spending habits.  “The trading platform would facilitate buying and selling of individual digital coins, including Bitcoin and Ether (ETH), as well as the transfer of funds combining different types of cryptocurrencies,” the publication summarized. Bitcoin purchases “not allowed” While little detailed information is currently available, the move would run conspicuously in contrast to RBC’s current modus…

    Nov 13, 2019
  • Mining is Back in the Game with Online Simulator RollerCoin

    Hardly any facet of real life has not yet been reflected by simulator games. Widely ranged, from extra-popular The Sims to realty tycoons and trading simulators, they aim to help users train their skills and fresh thinking rather than merely entertain them. The same applies to the cryptosphere, with mining simulators spreading across the Internet. The reason why more and more users are getting hooked on seemingly uneventful mining gameplay is getting real rewards in cryptocurrency, without spending a dime on rigs or utilising CPU power. The blockchain-empowered mining simulator RollerCoin is taking a huge step further by empowering players to build their own virtual enterprises. The real market model, tough competition, realistic levers for building a business empire, as well as customized characters – from geeky engineer to hard-boiled capitalist – are what 1,000 website’s daily newcomers are getting excited with. The thought-out in-game economy, which elaborately reflects the real market system, sets RC apart from mining simulators that largely turn out to be BTC-faucets. At first glance, the difference between mining simulators and Bitcoin-faucets may seem vague. The…

    Nov 13, 2019
  • Is Chinese Bitcoin Mining Firm Canaan’s $400M IPO a Desperate Move?

    Chinese bitcoin mining hardware maker, Canaan, plans to raise $400 million through public sale of its stocks. But will the IPO ride be smooth or bumpy?  Volatility is usual for bitcoin and crypto market participants. However, traditional stock market traders and investors are used to a bit more stability when it comes to their investments. The $400 Million Bitcoin Mining Firm IPO Canaan Creative is an Hangzhou-based firm, engaged in the business of manufacturing professional industry grade equipment required in large scale bitcoin and cryptocurrency mining activities. The Bitmain rival was originally supposed to conduct its first-ever public stock sale on the 28th of last month. But now fresh reports point out that Canaan Creative is set to go live with its big IPO day on November 20. The intended amount to be raised is a humongous $400 million, but there’s some ambiguity as to how the individual shares will be priced for buyers. Canaan’s stock listing on Nasdaq comes after the firm’s fair share of failed attempts to be listed on other stock exchanges in Hong Kong and mainland…

    Nov 13, 2019
  • China Guarantees Citizens On-Demand Anonymity With State Digital Currency

    The digital currency will allow anonymity to users… but only to an extent. Analysts are predicting the government-backed crypto will be out early next year. Blockchain efforts by the People’s Bank of China have ramped up in recent weeks. China has brushed aside concerns that its planned government-backed crypto will be used to keep tabs on the activities of its citizens. Allegedly, users of the centralized digital currency will be guaranteed ‘controllable anonymity’ as long as they are not engaging in illegal activities. This is according to the head of the digital currency research institute at the People’s Bank of China, Mu Changchun. Speaking at a conference in Singapore, Changchun said they were not ‘seeking full control of the information of the general public’, per Reuters. Users who demand a certain level of anonymity will get it, according to the state official: We know the demand from the general public is to keep anonymity by using paper money and coins … we will give those people who demand it anonymity in their transactions. Big Brother is watching However, there will…

    Nov 13, 2019
  • Lite.IM Launches Crypto Based Free Payment Gateway

    Lite.IM, a Swiss based non-custodial wallet has launched crypto backed financial hub. It allows users to receive payments in cryptocurrency without providing KYC (Know Your Customer) information in Europe, thanks to the collaboration with Swiss Based Bity.com Lite.IM is designed to help individuals, businesses and organizations to operate on their own terms and advance the development process of decentralization. The users can access the free service and enjoy the whole array of benefits without having to pay substantial percentage of commission. Unlike PayPal that charges up to 3 percent, Lite.IM doesn’t charge at all. An invoice sent for 5000CHF will see a deposit of the exact amount in user’s account within one working / business day. Keeping the necessity of a truly decentralized environment and to diminish the division of digital on a global level, we have kept the signup process quite simple. It only takes a couple of minutes for a person or business to get started using their IBAN (International Bank Account Number). The whole process is user friendly and doesn’t incur any charges. Once verified, users then…

    Nov 13, 2019

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