Ethereum Price (ETH) Correcting Losses: $225 Presents Key Resistance

ETH price traded to a new monthly low near $190 and later corrected lower against the US Dollar. The price corrected above the $200 resistance level, but upsides could face hurdles near $220 and $225. There is a crucial bearish trend line forming with resistance near $218 on the hourly chart of ETH/USD (data feed via Kraken). The pair could struggle to gain momentum above the $218, $220 and $225 resistance levels. Ethereum price is currently correcting losses above $200 versus the US Dollar, similar to bitcoin. ETH price might…

Grin Cryptocurrency Executes First Hard Fork

Privacy-oriented cryptocurrency Grin has just executed its first backward-incompatible upgrade, also called a hard fork. Today’s planned upgrade introduces key changes to the nearly $60-million network that will optimize for maximum miner decentralization and usability. Grin launched in January 2019. “It was planned since way before Grin launched,” Grin developer John Tromp told CoinDesk. “We would do four hard forks in the first two years, at regular six-month intervals, to introduce new features.” Tromp said that today’s upgrade did not result in a network split. Rather, the old Grin network simply…

Swiss Crypto Broker Bitcoin Suisse Applies for Banking and Securities Licenses

Bitcoin Suisse, a crypto-broker and pioneer of Switzerland’s “Crypto Valley,” has taken anticipatory steps to comply with a “maturing” regulatory environment. The firm announced on Tuesday that it has applied for a banking license with Swiss Financial Markets Supervision Authority (FINMA), as well as a security dealer’s license, mandated by the Stock Exchange and Securities Trading Act (SESTA). In the past, financial authorities at the Swiss Federal Council said blockchain and distributed ledger technology will be governed by existing regulatory schemes. However, a Suisse company representative said: “We believe that in…

Sexual Misconduct Allegations Emerge Against Bitcoin Coder Peter Todd

The Takeaway: Former Bitcoin Core developer Peter Todd filed a defamation suit in April demanding the deletion of a tweet that accused him of sexual misconduct. In response, three people submitted statements to the court this week accusing Todd of such misconduct. One alleged victim, “Jane Doe,” stated she stopped contributing to bitcoin projects in order to avoid Todd. The incident is shaping up to be a first-of-its-kind in the bitcoin community, a public incident that could force conference providers and projects to be more active in responding to allegations…

Coinbase Releases New Data Tools for ‘First-Time’ Crypto Investors

Coinbase is rolling out new tools to help entry-level crypto users understand what seasoned traders are up to. The exchange announced Wednesday the availability of a new suite of signaling tools. One such tool broadcasts the activity of Coinbase’s top traders. “The top holder activity signal is the percentage of Coinbase customers with large balances of an asset (top 10%) who have net increased (bought) or decreased (sold) their positions in that asset through trading over the last 24 hours,” an official Coinbase blog post explained. “This is updated approximately…

Facebook Has Not Contacted Swiss Regulators On Libra’s Registration

Social media giant Facebook has reportedly not contacted Swiss regulators regarding the registration of its long-awaited cryptocurrency project Libra. On July 16, Hugo Wyler, a spokesman for and head of communication at the Swiss Federal Data Protection and Information Commissioner (FDPIC), told CNBC that the agency has not been contacted by the promoters of Libra. Notably, the Libra project’s head, David Marcus mentioned in his testimony that the FDPIC would be the Libra Association’s privacy regulator: “For the purposes of data and privacy protections, the Swiss Federal Data Protection and…

Cryptocurrency Grin Follows Through With Anticipated July 17 Mainnet Hardfork

Privacy-focused cryptocurrency Grin has completed the first hardfork so far on its mainnet. The fork occurred at block height 262,080 on July 17, as shown on the Grin block explorer Blockscan.   According to an official announcement from Grin core dev Quentin Le Sceller, the latest blockchain hardfork is designed to discourage Grin mining through dedicated application specific integrated circuits (ASICs) and also includes a new iteration of its “bulletproof rewind scheme” for Grin wallets. As previously discussed by Cuckoo Cycle author John Tromp, there is reportedly no sign of users…

Overstock Subsidiary and Tokenization Firm tZERO Announces New Management

The blockchain-based subsidiary of retail giant Overstock,  tZERO, has appointed three new managers. The company announced the new hires in a press release on July 17. According to the announcement, new appointees Brooke Navarro, Michael Mougias and Alexandra Sotiropoulos have been official managers since July 15. TZero states that these new executives are the firms head of issuance, head of investor relations and head of communications, respectively. The CEO of tZERO, Saum Noursalehi, remarked on the intended role for these new hires, saying: “On the issuance front, Brooke will drive…

Jamie Dimon Says Libra Does Not Pose a Threat in Short Term

Jamie Dimon, CEO of global financial services firm JPMorgan Chase, argued that Facebook’s cryptocurrency project Libra does not pose a threat in the foreseeable future. As reported by CNBC, Dimon delivered his comments during a conference call with analysts on Tuesday, July 16. Dimon said that he would not spend too much time on Libra, specifying that “to put it in perspective, we have been talking about blockchain for seven years and very little has happened. We are going to be talking about Libra three years from now.” Dimon continued…

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