The ‘War on Bitcoin’ Is Almost Here – And It Will Get Ugly

For better or worse, bitcoin is now on the global political stage.  It was discussed in Congress. Donald Trump slammed bitcoin on Twitter. The Treasury Secretary called cryptocurrencies a national security threat, and the chairman of the Federal Reserve urged caution. Meanwhile, India just proposed an all-out ban on bitcoin while China scrambles to create […] The post The ‘War on Bitcoin’ Is Almost Here – And It Will Get Ugly appeared first on CCN Markets Author: Ben Brown Source link

Crypto Exchanges Are Benefiting from Algorithmic Trading: Here’s How

Matthew Trudeau is chief strategy officer at crypto asset exchange ErisX. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in crypto assets. Sign up here. Recently CoinDesk published an article titled, ‘High Frequency Trading is Newest Battle Ground in Crypto Exchange Race’ that discusses trading venues offering direct connectivity to their matching engines. While ErisX has only recently launched its spot market, other crypto exchanges announced their intention to and/or began to enable trading firms…

Bitcoin Price Rejected Above $10,000, Will $9,000 Break Or Bounce?

Bitcoin price has been on a wild ride throughout 2019, coming from bear market lows around in the $3,000 range all the way up to $14,000 before falling back below $10,000 and potentially looking at further downside if bulls cannot reclaim lost territory. This morning, Bitcoin price plummeted through $10,000 after a spike to $10,200 following last night’s daily close was rejected fiercely. The rejection sent Bitcoin sharply down to $9,500 where it is currently trading. With bulls in trouble of allowing bears to regain control, reclaiming upside targets in…

US SEC Approves and Says 8th Grader’s ‘Quarters’ Tokens Aren’t a Security

The United States Securities and Exchange Commission (SEC) has cleared a crypto gaming company to issue blockchain tokens without registration, deeming the tokens to not be securities. Pocketful of Quarters (PoQ) was co-founded by George B. Weiksner, an eighth-grader who is listed as the current CEO. Weiksner apparently is a regular speaker about cryptocurrencies and games and has been published by Marketwatch and ICO Investor TV. The SEC published its determination on July 25 via the commission’s website, as a reply to an apparent inquiry from PoQ on its proposed…

US Department of Justice Accuses Crypto Exec of $7 Million Fraud Scheme

Federal authorities in the state of New York have unsealed fraud charges against the principal of a purported cryptocurrency escrow company Volantis in the amount of over $7 million. According to an announcement by the Department of Justice (DoJ), the United States Attorney for the Southern District of New York and the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (FBI) unsealed a filing with the allegations on July 25. The defendant, Volantis principal Jon Barry Thompson, was also arrested on the same day. …

Tron Still Hasn’t Fully Paid for BitTorrent a Year On, Creator Claims

BitTorrent creator Bram Cohen has added to controversy swirling around Tron CEO Justin Sun by claiming he did not fully pay him for the streaming platform. Bram Cohen says last payment for BitTorrent still in escrow In a series of tweets July 25, Cohen said that the proceeds from the sale of BitTorrent, which Sun purchased last year, had not arrived in full.  Tron took over BitTorrent for an undisclosed amount in cryptocurrency, with Cohen now complaining the final installment had been stuck in escrow for two months. “Anybody know…

Japanese Financial Services Giant Monex Wants to Join Facebook’s Libra

Online brokerage Monex Group Inc., owner of the hacked Japanese crypto exchange Coincheck, plans to join the Facebook Libra cryptocurrency project. A report from Cointelegraph Japan today, July 26, reveals that Monex Group’s CEO Oki Matsumoto announced the company had filed an application to join the Libra Association during a press conference on Monex’s Q2 2019 financial results earlier this week. The Libra Association is the newly-established, independent governance consortium for Facebook’s planned stablecoin, dubbed Libra, and is currently negotiating with a host of other potential members — including Visa,…

Why Wait for Facebook? China Can Issue Its Own ‘Libra’

The CEO of Chinese tech giant Huawei thinks that China can compete with Facebook for market share by issuing its own digital currency. Huawei CEO: “Why wait for others to issue it?” As national news outlet Sina reported quoting a press conference in Italy on July 18, Ren Zhengfei believes China can easily create a digital currency with the same value proposition as Facebook’s Libra. “China can also issue such a currency by itself. Why wait for others to issue it? The power of a country is always stronger than…