Coinnest, one of the largest Bitcoin exchanges in South Korea has announced that it will be shutting down following a litany of administrative, financial and legal issues. 5th Largest South Korean Bitcoin Exchange Closes Shop In a statement published on the company’s website on Thursday (April 18, 2019), the platform announced its decision to shut up shop. Coinnest had already terminated account creation features as early as Tuesday (April 16, 2019). Following the decision to
A subsidiary of Chinese firm Huatie has been sold off at 10 percent of its initial value following losses from suspected secret cryptocurrency mining activities amounting to about $23 million. 90 Percent Value Plunged Probably Due to 2018 Bear Market According to Chinese crypto media outlet 8BTC, Huatie HengAn, a subsidiary of Huatie has been sold for $2 million. Reports indicate that the company’s value plunged by about 90 percent from an initial valuation of
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Bitcoin hit the headlines in Russia again this week after it emerged the country’s law enforcement had tried to extract a bitcoin bribe worth $1 million. FSB Illegally Sought $1.02 Million As local cryptocurrency news media outlet Coinspot.io reported April 17, a scandal involving Russia’s secret police and the ex-head of one of the country’s biggest newspapers has boiled over, with both parties now finding themselves under arrest. According to an ongoing court case, up
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Blockstream has announced the success of a “trustless” Bitcoin forward contract transaction with Crypto Garage. The Bitcoin infrastructure developer says the news marks a watershed moment in the actualization of decentralized trading and settlement infrastructure for BTC derivatives. Details of the Transaction In a blog post published by Blockstream on Friday (April 19, 2019), the company said it successfully carried out a peer-to-peer (P2P) Bitcoin forward contract with Crypto Garage. Forward contracts (forwards) are private
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2020 US Presidential hopeful Andrew Yang has given the clearest sign yet that he welcomes Bitcoin, releasing a dedicated statement on cryptocurrency regulation this week. Yang Highlights ‘Vast Potential’ Yang, whose pitch revolves around radical economic policy such as installing a Universal Basic Income (UBI), said that he would create “clear” legislation on crypto, using pro-industry legal schemes such as that of Wyoming as role models. “Investment in cryptocurrencies and digital assets has far outpaced
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Cryptocurrencies who are making the move to the new Binance Chain DEX are seeing some impressive price gains, which could open the floogates for many more to follow. Chain Migrations Are So Hot Right Now Shortly after announcing the launch of its mainnet yesterday, as well as the details for the BNB swap, Binance revealed that Mithril (MITH) will be the first project to see its token migrated on Binance Chain. “MITH will be one
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The proposed ‘digital assets’ law aims to “legalize ICOs” in Russia and is expected to be reviewed in May. But lawmakers are slowly realizing the futility of regulating Bitcoin and cryptocurrency that are un-regulatable by design. Russia’s ‘Digital Assets’ Bill Would Legalize ICOs Earlier this week, Russia’s Deputy Finance Minister Alexey Moiseev shared his thoughts on the country’s developing cryptocurrency laws. Speaking on the sidelines at the Economic Forum in Yalta, the Minister says the
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Researchers at Adamant Capital say Bitcoin is entering an accumulation phase which will see the cryptocurrency trade in a tight range on the way to another massive bull run. Bitcoin Will be Range Bound in Accumulation Phase In a report published on Thursday (April 18, 2019), analysts at Adamant Capital characterized the present Bitcoin cycle as an accumulation phase. In this phase, the researchers expect range-bound trading to characterize the BTC price action. An excerpt
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Blockchain entrepreneurs looking to raise capital through token sales are still navigating through a difficult regulatory landscape. Different countries still view cryptocurrencies and blockchain quite differently and finding the right location to capture the most investors is tricky. ICOs have been an undoubtedly positive force for blockchain, giving exposure and capital to projects that have pushed the industry forward. Even so, they have been known to have issues with transparency and security, putting them at
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Bitcoin itself is already ‘real estate’ on the blockchain by quickly emerging as the first ‘digital property’ for an increasingly digital world. Bitcoin is ‘The Most Interesting Property’ Forget real estate on-the-blockchain.” Bitcoin already is. In fact, it’s the “most interesting property in the world,” writes General Partner at Blockchain Capital, Spencer Bogart. Looking closer, many similarities do exist between Bitcoin and real estate. Moreover, Bitcoin introduces some unique advantages that will surely come in
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Bitcoin isn’t the only cryptocurrency having a rebound year so far. Let’s look at some recent strong performers that are already having a breakout year and set to test new all-time highs. Binance Coin (BNB) Binance Coin is undoubtedly amongst the best performing cryptocurrencies throughout the entire 2019. Throughout the past three months, it has more than tripled in value, marking an impressive increase upwards of 222 percent against the USD. Against Bitcoin (BTC), on
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The world’s leading cryptocurrency exchange Binance has launched the main network of its decentralized exchange (DEX) called Binance Chain. The swap of existing ERC20-based Binance Coin (BNB) to the Binance Chain will be carried out on April 23rd. ‘A New Chapter’ According to the official blog post, Binance has officially launched the mainnet of its decentralized exchange Binance Chain. This ‘new chapter’ as the CEO Changpeng Zhao has called it, will have all the currently
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Bitcoin price is up 1.7% for the week heading into Easter weekend. Let’s take a look at the price action to see if BTC/USD will press higher. Bitcoin Price 4-Hour Chart The 4-hour bitcoin price chart paints a picture of consolidation preceding a definitive move. With weekly highs of $5308 hit overnight and lows of $4950 rejected on Monday, bitcoin trading today at $5250 illustrates bitcoin’s intentions are to move higher in the short term.
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Bitcoin scaling solutions may be getting huge publicity in 2019, but the amount of money the network processes daily could already cause headaches for competitors. Bitcoin Usage Tramples Venmo As Morgan Creek Digital co-founder Anthony Pompliano noted on social media April 17, Bitcoin’s ‘on-chain’ transaction volumes grew to $7 billion per day earlier this week. Those figures came purely from standard transactions, not those done ‘off-chain,’ for example via the Lightning Network. By contrast, Pompliano
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France wants the EU to adopt its “new and innovative legislation” with the idea of “creating trust” (in a trustless technology). But forcing every participant in the cryptocurrency ecosystem to identify themselves through KYC is missing the point entirely. You can’t support Bitcoin and stand up for innovation whilst simultaneously and vigorously distorting its core values. Regulating Tech with ‘Innovative Legislation’ Cedric O, the newly-appointed French Secretary of State for Digital Affairs took the stage
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A research analyst at UBS says Bitcoin has bottomed out but may take more than two decades to reach its mid-December 2017 all-time high (ATH) of $19,700. Bitcoin Price Has Bottomed Out Kevin Dennean, a UBS analyst says that Bitcoin has bottomed out, having gone through its bubble phase. Dennean’s conclusions come from comparing the trajectory of Bitcoin price with that of other bubbles like the Dow Jones, Shanghai A-shares, NASDAQ, and the Nikkei. Commenting
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BitMEX owner HDR Global Trading has officially announced a partnership with Trading Technologies International, Inc. (TT). Trading Technologies International, Inc. provides high-performance professional trading software to clients worldwide — and its new partnership with BitMEX means that the latter’s users will now have access to improved trading tools on all BitMEX products. Geared Towards Professionals Specifically speaking, TT is most widely known for offering professional traders with a privately-managed infrastructure that directly connects to
As Argentina’s inflation rate skyrockets to its highest level since 1992, people are increasingly turning to Bitcoin as an alternative. Inflation in Argentina Surpasses 54 Percent Argentina’s central bank already tightened monetary policy three times in the last month, and inflation is still accelerating at a rate of nearly 55 percent. Bloomberg notes: The inflation rate rose to almost 55 percent in March, with consumer prices rising 4.7 percent in the month, exceeding all of the
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Lawmakers in Nevada have failed to move forward with a controversial bill for cryptocurrency regulations based on the flawed regulatory model proposed by the U.S. Uniform Law Commission (ULC). Nevada Congress Takes no Action on SB195 The deadline for further action on SB195 on the floor of the Nevada Senate passed on Friday (April 12, 2019). With no action taken, the bill is effectively dead in the water and marks a victory for cryptocurrency stakeholders
The governments of at least three countries have formally acknowledged their interest in issuing a sovereign Bitcoin bond to raise capital. Afghanistan, Tunisia, Uzbekistan And Bitcoin Asia Times originally reported the trend April 17 referencing recent statements at this week’s World Bank and International Monetary Fund (IMF) Spring Meetings held in Washington DC. Afghanistan, Tunisia and Uzbekistan are currently mulling the possibility of a Bitcoin bond, all three interested in the instrument’s potential to help
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Hackers convinced Twitter to give them control of the account for Sweden’s ruling political party – then used it to change the country’s official currency to Bitcoin. Swedish Government: ‘Time To Buy’ Bitcoin Speaking in an interview with local news outlet Trijo, one of the five hackers involved in the stunt this week said he did it because he thought socialism “was wrong.” The debacle broke out April 15 when the Social Democrats’ official Twitter
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France wants the European Union (EU) to adopt its recently enacted cryptocurrency regulations for the entire region. French Finance Minister: Ours is the Right Way France’s Finance Minister Bruno Le Maire says the EU should consider adopting the country’s approach to regulating cryptocurrencies. Speaking at the ongoing Paris Blockchain Week Summit on Monday (April 15, 2019), Le Maire, opined: I will propose to my European partners that we set up a single regulatory framework on
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UK’s biggest travel management company is now accepting bitcoin for payments after “increasing demand” from clients. The move also hints that its retail travel giant parent-company Flight Centre Group could soon accept BTC company-wide. UK’s Biggest Travel Management Company Accepts Bitcoin Corporate Traveller is the UK’s largest travel management company dedicated to partnering with companies with small – medium travel spend requirements. Now it will be accepting Bitcoin (BTC) and Bitcoin Cash (BCH) payments for
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Brazil, the largest Latin American economy, broke a new record when Brazilian exchanges traded over 100 thousand bitcoin within 24 hours. In parallel, Brazil reported that its economic activity in February fell to the lowest level in the last nine months. Brazil Trades Over 100,000 bitcoin in 24 Hours The battle between Brazil and Argentina for the supremacy of the Bitcoin market in Latin America reached a new dimension. Cointrader Monitor, a monitoring tool that
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It’s safe to say that Bitcoin has had a good Q1 2019, gaining upwards of 30 percent of its value since January 1st. Now, a new report has it that if the price consolidates above $5,000, this could lead to further increases throughout the year. Bitcoin Price $5K Consolidation a ‘Positive Sign’ According to a new report by BitBullCapital, a cryptocurrency hedge funds manager,”the fact that Bitcoin has managed to retain gains from early April
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The Bitcoin Lightning Network scaling protocol has passed a fresh landmark of 8000 nodes as a new solution launches to increase its mainstream usage. Lightning Rides Growth Highs Lightning, which continues to advance its presence as Bitcoin’s foremost scaling solution, hosted 8016 nodes at press time April 16 according to monitoring resource 1ML.com, up 8 percent over the month. The network now has a total payment capacity of 1062 BTC ($5.37 million), having reached an
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