Day: July 13, 2018

5 Crypto Assets Are Soaring Big on Possible Coinbase Listings

Cryptocurrencies generally see a price increase after being added to an exchange, but with Coinbase the rise can be meteoric – even when nothing is actually being added. The exchange announced Friday that it was looking into potentially adding cardano’s ADA token, basic attention token, stellar, zcash and 0x to its platform, and each of the tokens immediately saw double-digit percent price spikes. The increases are even more interesting considering Coinbase noted that it “cannot guarantee they will be listed for trading.” Notably, the exchange also claimed that “we are making…

Cryptocurrency Prices Soar on News Coinbase Is ‘Exploring’ Adding Five New Coins

The cryptocurrency market experienced a slight bump on Friday, but five altcoins managed to break away from the pack, bolstered by the announcement that cryptocurrency exchange and brokerage giant Coinbase is “exploring” adding support for them to its several platforms. Earlier today, the San Francisco-based Coinbase announced that it is engaging with discussions with banks and regulators in a variety of jurisdictions about adding support for five new cryptocurrency tokens: cardano (ADA), basic attention token (BAT), stellar (XLM), zcash (ZEC) and 0x (ZRX). Having learned from past listing fiascos, the…

Something Strange Is Going On at a Crypto Exchange Called WEX

Users of WEX, the cryptocurrency exchange built on the ashes of BTC-e, are reporting withdrawal problems, raising new questions about an already mysterious trading platform. “‏Dear Wex, when withdraws will enable ??” asked Twitter user Alireza Moosavi on Friday, joining a crowd of Wex customers complaining they couldn’t withdraw funds for the second day in a row. Ehsan Mahmoodi similarly inquired, “Hello, why withdrawal is disabled?” A third user, Hasan Gusseynov, asked the exchange, in Russian, “When will everything be ok?” The user complaints follow odd trading activity observed on the…

Steven Cohen Invests in Crypto Hedge Fund

The King has left the hedge fund building. Now, Steven Cohen, otherwise known as the ‘Hedge Fund King’, has entered the world of cryptocurrency. Yes, the headlines are true: Steven Cohen invests in a crypto hedge fund. Steven Cohen Invests in Crypto Hedge Fund Cohen, a Billionaire investor, is still technically involved in the hedge fund industry, but his latest investment is in a crypto-based hedge fund — a first for Mr. Cohen.  On July 12, Fortune published an article which stated Steven Cohen had invested in, through his VC firm,…

CoinList’s Fifth ICO Is a $61 Million Bid to Tokenize All the Assets

The website aiming to be the gold-standard for token sellers has been picking up the pace. Since spinning off from venture capital giant AngelList last October, New York-based CoinList has been able to make a spot on its website a coveted place for serious projects, even in a crowded market for compliant coin offerings. So, on Monday, the wider world of token entrepreneurs and investors took notice when the company opened registration for its fifth sale. The new entrant? TrustToken, a platform that aims to simplify trading real-world assets on a blockchain.…

Bitcoin Price Shows Green Again After $6K Defense

Bitcoin’s (BTC) sharp recovery from two-week lows hit yesterday has raised the odds of a stronger rally towards $6,400, technical studies indicate. As of writing, the leading cryptocurrency is changing hands at $6,245 on Bitfinex. BTC was expected to drop below $6,000 in the last 24 hours as the bears were on the offensive following an inverted flag breakdown. However, the intraday oversold conditions likely put a floor under bitcoin prices at the two-week low of $6,080, helping it chart a solid rebound to $6,283 (today’s high). While it is…

Robinhood’s Plan to Win the Crypto Exchange War? Kill Trading Fees

As a new entrant into the cryptocurrency field, Vlad Tenev, co-CEO of online investment brokerage Robinhood, is following a time-honored business strategy: Undercut the competition. Except he’s taking it to an extreme. Launched early this year, Robinhood Crypto is differentiating itself with zero-fee transactions, with the ultimate goal of doing away with the concept of trading fees in the market altogether. Framing this effort as a force for good in line with his company’s namesake folk hero, Tenev told CoinDesk he wanted to prevent consumers looking to invest in cryptocurrencies, especially young millennials,…

OKCoin Exchange Launches in US Offering Fiat-to-Crypto Trading

Cryptocurrency exchange OKCoin has launched a branch in the U.S. market offering trading services between U.S. dollars and several major cryptocurrencies. According to OKCoin’s website on Friday, the exchange has already launched the new offering and is now accepting U.S. dollars deposits and withdrawals, as well as trading against bitcoin, bitcoin cash, litecoin, ethereum and ethereum classic. For the new offshoot, the company filed a money service business (MSB) registration with the U.S. Financial Crimes Enforcement Network (FinCEN) in November 2017. The document shows that the legal entity behind the exchange is…

Why Litecoin’s Creator Is Buying Into a Bank (And How It Could Go Wrong)

One of the most unusual and potentially transformative deals in the cryptocurrency space started as an argument on social media. Back in April, Charlie Lee, the creator of litecoin, was exchanging barbs on Twitter with Derek Capo, the CEO of payment processor TokenPay. But their fight quickly turned into a friendly exchange of direct messages, in which the two crypto enthusiasts realized they shared a common problem: In a word, banking. Both the Litecoin Foundation, the non-profit that promotes the sixth-largest cryptocurrency and where Lee is a managing director, and…

Bitcoin Price Defends $6K As Upside Potential Builds

Bitcoin (BTC) may be up slightly at the start of Friday’s session, but it remains to be seen if it can build traction above $6,000. The world’s largest cryptocurrency by market capitalization is now down 37 percent from its May 5th high at $9,996 according to CoinDesk’s Bitcoin Price Index, though it’s rebounded to a crucial support zone at $6,235, according to Bitfinex data. The figure is notable, as it could be argued bitcoin needs a daily close above the previous low at $6,070 to abort bearish outlook for the coming…