Ethereum Price (ETH) Remains At Risk Of More Downsides Below $215

ETH price struggled to climb higher and declined below the key $224 support against the US Dollar. Ethereum price is currently trading in a bearish zone and it even tested the $215 support area. There is a major declining channel forming with resistance near $221 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to face a strong resistance near the $220 and $222 levels in the near term. Ethereum price is trading with a bearish angle versus the US Dollar and bitcoin. ETH price…

India Will Lose An Almost $13 Billion Market By Banning Crypto

Sidharth Sogani, the CEO of crypto and blockchain research firm Crebaco Global Inc, believes that India will lose around $12.9 billion worth of market if cryptocurrency is banned in the country. Sogani shared his reasoning with the news outlet AMBCrypto, which reported the matter on August 8. According to the report, Crebaco’s methodology included an analysis of how much revenue companies might have generated if crypto was ruled to be legal, as well as crypto companies with Indian founders who moved offshore due to the Reserve Bank of India’s banking…

Grayscale Argues BTC Hedges, With US-China Trade War As Case Study

Grayscale Investments, a digital assets investment firm that offers Bitcoin (BTC) trust shares, has published a case study on how BTC could be used as a hedge against financial instability. The firm used the case of trade tensions between the United States and China to make their point. Grayscale Investments linked to its study in an official blog post on Aug. 8. According to Grayscale’s analysis, they believe that BTC’s store of value potential, its spending characteristics and its potential for growth with new technology poise the original cryptocurrency as…

CFTC Policymaker With Long History of Work on BTC Futures Leaving

Amir Zaidi, the director of the United States Commodity Futures Trading Commission’s (CFTC’s) Division of Market Oversight (DMO) is rumored to be leaving the CFTC within weeks. Multiple anonymous sources aware of the situation have confirmed this claim, according to a report by Bloomberg Law on Aug. 8.  Zaidi has been the director of the CFTC’s DMO since January 2017. He is acknowledged as being responsible for creating Bitcoin (BTC) futures trading policy, as well as rewriting market regulations for over-the-counter swaps. One source added that former DMO director Vincent…

Reddit Co-Founder to Stream Blockchain Game Skyweaver Face-Off

Reddit Co-Founder Alexis Ohanian will live stream a face-off match of the latest blockchain collectible card game he’s invested in, SkyWeaver. | Source: REUTERS/Lucy Nicholson Reddit co-founder, Alexis Ohanian, will be live-streaming a face-off match between himself and the lead developer of the latest collectible card game to hit the blockchain, SkyWeaver. Ohanian, also known as kn0thing to Redditors, has famously invested in numerous successful startups. He is now playing his hand in the crypto space thanks to his latest investment. Horizon Blockchain Games last month received $3.75 million in seed…

tZERO to Offer Public Trading Starting Aug. 12, Expects Up To 50,000 Investors

Retail giant Overstock’s blockchain subsidiary company, tZERO, plans to allow the public to trade its security tokens in four days. Saum Noursalehi, CEO of tZERO, shared the announcement with CoinDesk, per a report published on Aug. 8. According to the announcement, Aug. 12 marks the end of a one year lock period following the company’s 2018 token offering. Noursalehi additionally commented that the company is expecting as many as 50,000 new investors, who have already bought Overstock shares, to begin trading their digital security tokens. Despite not seeing a large…

Bitcoin Basher Peter Schiff Destroyed by Crypto Twitter for Fake News

Bitcoin basher Peter Schiff, an avowed gold bug, got dragged on Twitter after spouting a false claim about the bitcoin price. | Source: AP Photo / Mark Lennihan Gold bug Peter Schiff got dragged on Twitter after spouting false information about bitcoin. Schiff incorrectly claimed that BTC prices have plunged 15% since June 19. By comparison, Schiff gloated that gold prices have spiked 10% during the same period. Instead of dropping, Schiff said the bitcoin price should have climbed due to a combination of “favorable press, weakness in global currency and…

Insurance Giant Allianz Is Working on a Token-Based Blockchain Ecosystem

German financial services giant Allianz Global Corporate & Specialty SE (AGCS) is developing a blockchain-based ecosystem to facilitate cross-border insurance payments for its corporate customers. Experimentations with blockchain technology Allianz is working on a token-based blockchain system, expecting it to streamline international insurance payments for its corporate customers, Forbes reported on Aug. 8. An Allianz spokesperson told Forbes that the company is still in the experimentation phase, although the basic core infrastructure of the ecosystem has already been built and tested. The spokesperson further explained that Allianz will next examine…

Eike Batista Arrested on Suspicion of Money Laundering Via Bitcoin

Wealthy businessman Eike Batista has been arrested by federal police on account of suspected money laundering, which they believe he achieved by trading Bitcoin (BTC) on his wife’s behalf. The details of Batista’s arrest were reported by Cointelegraph Brasil on Aug. 8. Prosecutors reportedly found notes indicating that he had traded BTC for his wife, who is not currently being investigated. The Federal Prosecutor wrote: “Although the suspect’s wife, Mrs. Flávia, is not being investigated, it is quite possible, given the evidence of such a usual means of money laundering…

Etihad Airways Integrates Travel-Focused Blockchain Platform Winding Tree

The national carrier of the United Arab Emirates Etihad Airways has partnered with blockchain-based platform for the travel industry Winding Tree to explore how blockchain can aid in distribution. Logistics see greater adoption of blockchain As Reuters reported on Aug. 8, Etihad joined a range of other leading international airlines that already deploy the Winding Tree platform, including Air Canada, Air France-KLM, and Lufthansa. The product is set to reduce transaction costs for customers, as well as enable companies to publish inventory directly to their customers, among other services. Tristan Thomas,…