Bitfinex has removed its $10,000 minimum equity requirement to start trading on the cryptocurrency exchange, enabling a broader range of investors to participate. The company, based in the British Virgin Islands, cited “overwhelming demand from a wide variety of traders” for the change. “We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base,” Jean-Louis van der Velde, CEO at Bitfinex, wrote Tuesday on the company’s corporate blog. “For the last six months, we have been working hard to…
Day: April 9, 2019
Bitstamp Granted BitLicense, Will Expand Crypto Services in US
Bitstamp, one of Europe’s largest cryptocurrency exchanges, is looking to expand its U.S. operations, having just been issued New York’s latest virtual currency license. The New York Department of Financial Services (NYDFS) awarded Bitstamp the 19th BitLicense Tuesday, allowing the exchange to offer bitcoin, litecoin, bitcoin cash, ether and XRP trading pairs to the state’s residents. Bitstamp first applied for the license in June 2015, when NYDFS created the state’s landmark law. The exchange was among the first set of 22 applicants for the license, CEO Nejc Kodrič told CoinDesk. While…
How China Banning Bitcoin Mining Can Positively Affect BTC Price
A bitcoin mining ban in China will more like drive the asset’s price higher, according to Mati Greenspan. The UK-based financial analyst said the Chinese were mining bitcoins at a much cheaper rate than the rest of the world. It prompted more prominent mining corporations to set up their base in the Chinese regions. As a result, the country at one point hosted more than 50-percent of all the bitcoin mining pools. It also enjoyed a monopoly in manufacturing bitcoin mining equipment. Such statistics led many skeptics to believe that…
Hold-It-Yourself Crypto Exchange LGO to Roll Out Hardware Wallet in Q2
LGO Markets, a new bitcoin exchange for institutional traders, has revealed more details about its unorthodox approach to custody, including a forthcoming optional hardware wallet. Launched in March, New York-based LGO bills itself as a one-of-a-kind exchange that will allow clients to control their coins instead of putting them in the exchange’s wallet. The idea is that clients open a multi-signature wallet with LGO that has three keys, two of which are needed to send a transaction: the client controls one key, LGO the second one and the clearing service provider…
CME Bitcoin Futures Hits Record 1-Day Volume, BTC Rally Next?
Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Throughout the past seven days, following its initial rally on April 1 from $4,200, the bitcoin price increased from around $4,673 to $5,218, by well over 11 percent. The bitcoin…
Advocate for Mt Gox Creditors Quits, Saying Bitcoin Payouts Could Take Years
The head of the largest organized creditor group representing the former users of failed bitcoin exchange Mt. Gox is stepping down amid what he described as a protracted legal quagmire that could take years to resolve completely. Andy Pag, the founder and coordinator of Mt. Gox Legal, told CoinDesk in an exclusive interview this week that he now believes ongoing legal issues – in particular, a single massive claim by startup incubator and former Mt. Gox partner Coinlab – may hold up the crypto exchange’s civil rehabilitation process for up to two more…