Altcoin Crush coming
Day: May 7, 2019
Ethereum (ETH) Price Back To Support After Binance Hack News
ETH price started a fresh decline after tagging the key $180 resistance level against the US Dollar. The price broke the $175 and $169 support levels to test the next support near $164. There is a short term connecting bearish trend line in place with resistance at $172 on the hourly chart of ETH/USD (data feed via Kraken). The pair could consolidate for a few hours before it could test the $172 and $174 resistance levels. Ethereum price trimmed most its recent gains versus the US Dollar and bitcoin. ETH…
Barry Silbert Gives Fox Business’ Maria Bartiromo Sales Pitch on Bitcoin
By CCN: Barry Silbert, who is at the helm of Grayscale Investments, is taking his firm’s ‘Drop Gold’ campaign to Wall Street, or at least to Midtown. Grayscale’s Silbert was a featured guest on Fox Business’ “Mornings with Maria” program featuring host Maria Bartiromo, who prior to joining Fox Business rose to fame at CNBC. The last time that the crypto investor was a guest on Maria’s show, the bitcoin price was trading at $500. Now with the price perched above $5,000 and barreling for $6,000, the financial media’s interest…
Hackers Withdraw 7,000 Bitcoins in Binance Crypto Exchange Security Breach
Binance, one of the largest cryptocurrency exchanges by daily trade volume, has experienced a major security breach on May 7, according to a statement shared with Cointelegraph on May 7. Per Binance, hackers employed a variety of tactics including phishing and viruses to obtain a large number of 2FA codes and API keys in addition to other information. According to the exchange, there was one affected transaction, wherein hackers were able to withdraw 7,000 bitcoins (BTC) worth $40,705,000 at press time. In a letter on Binance’s website, CEO Changpeng Zhao…
Turkish University Opens Blockchain Center at Boston’s Northeastern University
Turkish Bahçeşehir University (BAU) has reportedly opened a blockchain center at Boston’s Northeastern University (NEU) to provide informational support on blockchain technology, Daily Sabah reports on May 7. Apart from informational support, the BAU–NEU Blockchain Laboratory’s objective is to apply for funds in the United States, the European Union and Turkey, thus boosting Turkey’s presence in the blockchain market and attract specialists in the field. Commenting on the cooperation, Chair of the BAU Board of Trustees Enver Yücel said that he would also like to start blockchain-related master and doctoral education…
Bitmain’s Hashrate Noticeably Dropped in Past 30 Days
Chinese cryptocurrency mining giant Bitmain’s hashrate has noticeably dropped in the past 30 days, according to the company’s hashrate disclosure update as of May 7. Per the data analyzing the hashrate of all Bitmain-owned hardware, updated once every 30 days, the SHA256 hashing algorithm — which is used in the bitcoin (BTC) mining network — has dropped from 1,692.35 quadrillion hashes per second (PH/s) in March to 237.29 PH/s as of the beginning of May. This marks a noticeable downturn in the company’s bitcoin mining power. When comparing with Bitmain’s…
Former Investor Sues OneCoin Scheme, Seeks Class Action
Former OneCoin investor Christine Grablis is suing the cryptocurrency investment scheme for fraud, according to a complaint filed on May 7. Grablis is seeking damages and a class action suit to represent other investors purportedly defrauded by OneCoin. The full list of defendants in this lawsuit — Grablis v. OneCoin Ltd. — includes OneCoin Ltd, Ruja Ignatova, Konstantin Ignatov, Sebastian Greenwood, Mark Scott, along with other potential parties who have yet to be named. According to a Bloomberg report on May 7, OneCoin founder Ruja Ignatova has been charged with…
Sprott CEO Predicts Bullish Future for Blockchain-Based Digital Gold
Peter Grosskopf, CEO of the global asset manager Sprott, has posited that blockchain technology will make gold a more valuable and practical asset, according to an interview with Kitco News on May 7. Regarding the day-to-day usability of gold — and how blockchain improves the situation — Grosskopf remarks: “I think it was quite realistic to criticize gold because you weren’t gonna go to a gas station and pay for your fill-up with gold coins. But now, when gold can be digitized, put on the blockchain — moved around very…
Former Worldpay US Executive Joins Crypto Payments Firm BitPay as Its New CFO
Major cryptocurrency payment services provider BitPay has onboarded former Worldpay U.S. executive Glen Braganza as its Chief Financial Officer (CFO), according to a press release published on May 7. Having more than 15 years experience in private equity and public markets, Braganza joined BitPay to “help support the business through its next phase as the company grows into a global financial organization.” While the release does not reveal what exactly Braganza will be engaged in, Stephen Pair, CEO and co-founder of BitPay, said that “Glen’s experience is a key advantage…
Russian Exchange Aggregator to Resume Operations After Recent Block by Gov’t
Popular Russian crypto exchange aggregator BestChange will soon resume operations after being blocked by the government, crypto news outlet Forklog reports May 7. The firm’s head of public relations and marketing Nikita Zuborev told Forklog that the block is expected to be lifted in the coming days following a court hearing. Russian telecommunications watchdog Roskomnadzor (RKN) blocked the BestChange website on March 12, following an order from a district court in Omsk, Russia’s seventh largest city. Despite the recent block by RKN, BestChange has still been operational in Russia through…