Central banks have been contemplating the idea of creating their own cryptocurrencies for a while now. China has been one of the first countries to express its intentions in this regard. The country’s CCIEE chair even stated that they will be the first to launch its central bank digital currency (CBDC). A former deputy governor...Read More
The CEO of one of America’s biggest banks hasn’t had anything nice to say about Bitcoin in the past. Back in 2017, JP Morgan Chase chief Jamie Dimon called Bitcoin a straight-up “fraud,” and a bubble that “won’t end well.” But now, during a CNBC interview at the World Economic Forum in Davos, Dimon says...Read More
New information indicates that Bitcoin Gold experienced a 51% attack last week. A total amount of over $70,000 was double-spent, which raises questions regarding its security since this is the second similar attack on the network. 51% Attack On Bitcoin Gold A 51% attack occurs when a single organization or entity takes control of the...Read More
An interesting graphic compiled by Deutsche Bank compares the early-stage evolution of the Internet and blockchain technology. It shows that the two have relatively similar difficult beginnings, but ultimately the former receives more mass adoption than the latter. Internet Vs. Blockchain Adoption Rates Nowadays, it’s hard to imagine living a normal life without constant access...Read More
The popular blockchain analytics company, ChainAnalysis, recently posted a review of how 2019 related to previous years in terms of cryptocurrency exchange hacks. The data reveals an increased number of attacks, but less stolen money compared to 2018. More Cryptocurrency Hacks In 2019 The report informs that hackers attempted the most amount of attacks against...Read More
The World Economic Forum (WEF) in Davos, Switzerland, ended yesterday with a significant mark on the cryptocurrency market. On the last day, WEF announced the first global consortium focused on designing a framework for the governance of digital currencies, including stablecoins. Global Consortium For Digital Currency Governance The World Economic Forum for 2020 took place...Read More
Even though Peter Schiff’s lost bitcoins saga has been resolved, for now, it continues to attract the attention of the cryptocurrency community. The CEO of Binance, Changpeng Zhao (CZ), recently noted that Schiff helps Bitcoin as his negativism will push people to do the opposite of what Schiff trying to express. CZ On Schiff’s Lost...Read More
Negative rates are becoming exceedingly popular among central and local banks around the world, and the trend extends in Germany with the start of 2020. Amid this, Bitcoin’s pre-programmed inflation rate raises the question if it could serve as a full-on alternative. Simply put, having negative rates means that instead of receiving interest income on...Read More
Bitcoin went through yet another week full of volatility and considerable market movements. The cryptocurrency decreased by a total of about $400 in the past seven days. This happens just before the Chinese New Year, and history revealed that it has historically been a rather bad time for Bitcoin. However, it’s also worth noting that...Read More
One of the most successful and popular entrepreneurs, Elon Musk, recently spoke about Bitcoin and the general idea of cryptocurrencies. Appearing on a podcast, he said that digital assets will not replace cash fully, but they have a role to play. Bitcoin Won’t Replace Money: Musk Elon Musk is widely known for his business endeavors...Read More
Banks in Hawaii, one of the fifty states in the US, would be able to provide cryptocurrency custodial services to investors under a new bill introduced by the state’s lawmakers late last week, should it pass approval. If successful, the legislation would grant Hawaiian banks the right to hold and manage digital assets such as...Read More
Ripple, the company behind one of the largest cryptocurrencies on the market, XRP, might file for an IPO within the next 12 months. So much became clear in an interview with the company’s CEO, Brad Garlinghouse, during the World Economic Forum in Davos. Ripple May Go Public In The Next 12 Months The past few...Read More
A recent survey from the Bank for International Settlements (BIS) confirms the emerging trend of digital currencies backed by central banks. The publication reveals that 80% of the participants have declared that they are currently working on issuing their own cryptocurrency. CBDCs: Coming From Most Banks The survey was compiled by BIS at the end...Read More
After last week’s rally, it now seems that Bitcoin is hitting the headlines once again. American venture capital investor, Tim Draper, has recently spoken out about Bitcoin, suggesting that millennials need to invest in Bitcoin if they want to secure their financial future. On Wednesday, January 22nd, 2020, Draper spoke to Liz Claman during an...Read More
Tether, the issuer of the popular stablecoin USDT, has now launched a new type of commodity-backed token pegged to gold. At the time of this writing, the new token will be issued on the networks of Ethereum and Tron. Tether Launches Tether Gold (XAUt) According to a recent announcement, Tether, the company behind the most...Read More
In an industry like this, where cryptocurrency prices are highly volatile and unpredictable, putting all eggs in one basket could be quite risky. Many got to know this the hard way, while some learned from the experiences of others. A recent Twitter poll revealed that an increased number of crypto traders and investors are now...Read More
Pornhub, the popular adult website, has updated its payment methods and has added Tether (USDT) as an option. Just months after PayPal stopped supporting the platform, the cryptocurrency world introduces a viable alternative. TRON and USDT On Pornhub The adult platform announced that it had added the most-widely used stablecoin Tether (USDT) as a new...Read More
The debates on whether or not the forthcoming Bitcoin halving will affect the price of the asset continues with full force. While some people believe that the event has already been priced in and the community should not expect a significant boost, others presume that Bitcoin is yet to encounter the real impact. Bitcoin Halving...Read More
The San Francisco-based venture capital firm, Andra Capital, is planning to issue its own Silicon Valley Coin (SVC) via a Security Token Offering (STO). The project comes after a collaboration with the Tezos Foundation, and it will be built on the latter’s blockchain. Following this announcement, XTZ notes a daily increase of almost 9% against...Read More
While the industry is still abuzz over Bitcoin’s surge toward new yearly highs during last week’s rally, the world has also caught wind of some exciting news about the world’s 15th largest cryptocurrency based on market cap: Ethereum Classic. As of today, January 22nd, 2020, Grayscale’s Ethereum Classic Trust has announced its financial commitment to...Read More
The central banks of Hong Kong and Thailand revealed today in a published report that they are a step closer to creating a joint Central Bank Digital Currency (CBDC) to facilitate efficient payments between the two countries. The banks confirmed that the upcoming CBDC dubbed Project Inthanon-LionRock is technically feasible and will utilize the blockchain...Read More
The second version of the “Lightning Torch” (LN Trust Chain 2.0) was recently launched on its birthday, and the community keeps spreading it around the globe. Its primary purpose continues to be the same – to raise people’s awareness of the benefits of Bitcoin’s off-chain scaling solution – the Lightning Network. The New Lightning Torch:...Read More
After last week’s surge to nearly $9,200 and the following retracement, Bitcoin has been trading mostly in a range between $8,500 and $8,750. Yesterday, it noted a quick dip to $8,480 on Bitstamp and immediately surged back to over $8,700, which is where it currently stands. If Bitcoin’s bullish 2020 price movements are to continue,...Read More
The Securities and Exchange Commission (SEC) of the US is tightening the noose around initial exchange offerings (ICOs). In yet another step against them, the Commission has brought charges against one more allegedly fraudulent ICO of unregistered digital asset securities. The SEC Is Getting Serious About ICOs The SEC has pressed charges against defendants Sergii...Read More
As of yesterday, January 20th, 2020, the Blockchain Economic Forum kicked off in Davos, Switzerland, with a keynote speech delivered by J. Christopher Giancarlo. Giancarlo spoke about the past, present, and future evolution of the blockchain, and made one particularly exciting remark about virtual currencies. The ex-chairman of the United States’ Commodity Futures Trading Commission...Read More
One of the most prominent traditional investors, Ray Dalio, recently said that Bitcoin (still) fails to serve the purpose of money. However, he also holds that people should look for alternatives of cash as governments can print out as much as they want, which ultimately depreciates its value. Bitcoin’s Volatility Holds It Back Raymond (Ray)...Read More
As a response to a legal case filed by the Internet and Mobile Association of India (IAMAI), the Reserve Bank of India (RBI) has now clarified that Bitcoin is not banned in the country. The nation’s central bank says that it has only restricted regulated financial establishments from dealing with anyone using digital assets. RBI...Read More
Some major central banks, including that of Britain, Japan, and Sweden, have reportedly come together on cooperation towards cryptocurrencies. The organizations will share their experience in a dedicated group. Major Banks Come Together To Work On Cryptocurrencies Major central banks are stepping up on the matter of cryptocurrencies. According to a Reuters report, the banks...Read More
Leading cryptocurrency exchange Binance has completed its Q4 2019 burn of the Binance coin (BNB). It was the 10th quarterly token burn the exchange has done since the launch of the BNB in July 2017. The event, which took place during the weekend, saw a total of 2.2 million BNB worth more than $38 million...Read More
The Australian Prudential Regulation Authority (APRA) has reportedly submitted a framework to oversee digital wallets holding large amounts of value. If approved, it would also include Facebook’s controversial stablecoin, Libra, and its digital wallet – Calibra. APRA To Oversee Calibra? Upon its announcement, Facebook’s Libra quickly attracted the attention of watchdogs. The social media mogul...Read More
