Day: September 20, 2019

Bitcoin Price Remains Uninspired at $10,200, Altcoins Go Into Red

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Friday, Sept. 20 — The price of Bitcoin (BTC) remains largely uninspired and is once again trading sideways around the $10,200 price mark. Market visualization. Source: Coin360 Although BTC is back at trading sideways, Fundstrat Global Advisors co-founder Tom Lee expects this to change with the coming launch of Bakkt and is positive on its ability “to improve trust with institutions to crypto.” The world’s largest cryptocurrency continues to trade flat, with an intraday high of around $10,280, while slowly trading downward to its current trading price of $10,147, showing…

Upbit Exchange Delists Privacy Coins Due to Money Laundering Concerns

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South Korean cryptocurrency exchange Upbit announced that it will cease trading support for six cryptocurrencies, including some so-called privacy coins. Block the possibility of money laundering In a Sept. 20 notice, UpBit announced that the exchange will delist and cease trading support for Monero (XMR), DASH, ZCash (ZEC), Haven (XHV), BitTube (TUBE) and PIVX by Sept. 30. The exchange added that it will no longer support deposits in these cryptocurrencies and will cancel orders requested before the end of the transaction support in Korean won, Bitcoin (BTC), Ether (ETH) and…

Former Iced Tea-Turned-Blockchain Company Sells Beverage Subsidiary

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Long Blockchain Corp., previously named Long Island Iced Tea, has reached a definitive agreement to sell its beverage subsidiary, Long Island Brand Beverages. Lemonade company adds blockchain to its name In a Sept. 20 press release, Long Blockchain announced the sale of its beverage subsidiary to Canadian firm ECC2 Ventures.  Andy Shape, CEO of Long Blockchain stated that this transaction will allow the company to concentrate its efforts on the underlying loyalty operating business, adding:  “Our loyalty platform has experienced strong growth over the past year with new and existing…

Analyst Predicts Bakkt Will Build Trust in Crypto Markets

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Prominent analyst Tom Lee believes the launch of Bakkt will help build trust towards crypto trading among institutional investors. Lee, a renowned Bitcoin bull and co-founder of the research firm Fundstrat, tweeted his enthusiasm for the long-awaited crypto services platform: “I am very positive on @Bakkt and its ability to improve trust with institutions to crypto.” Bakkt is owned by the Intercontinental Exchange (ICE) and goes live on September 23, having already launched its crypto warehouse service, which saw over $1 billion USD worth of Bitcoin deposited in one day. Many involved parties…

BitMEX CEO Arthur Hayes Says Traders Could Lose Weekends, Lunch Breaks

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BitMEX CEO and co-founder Arthur Hayes says traditional traders may lose their lunch breaks and weekends as digital finance is going to change everything, including workplaces. Cryptocurrencies trade 24 hours a day, seven days a week In a Sept. 19 article by Bloomberg, Hayes noted that cryptocurrencies trade 24 hours a day, seven days a week, and that this will end up affecting “everything from traditional equities, bonds and currency trading, to the way payments are processed and recorded.” The CEO of BitMex made his remarks at the Milken Institute…

Cryptocurrency Exchange Seed CX Cuts Trading Fees to Gain Market Share

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Institution-oriented cryptocurrency exchange Seed CX has cut its trading fees to what it claims to be the most competitive levels globally. Competition heats up in crypto trading space On Sept 16, the Chicago-based crypto exchange Seed CX announced that it was lowering its trading fees to some of the lowest levels in the industry. The fee cuts follow a week of purported record trading volumes for the exchange, briefly overtaking other top exchanges like Bittrex and the Winklevoss brothers’ Gemini.  Seed CX co-founder and CEO Edward Woodford said that thanks…

Got ID? New Projects Explore Blockchain Identity Systems

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The rapid onset of technological advancement is not evenly spread. Society is increasingly becoming digitally literate and uses emerging technology for work, to communicate and pay for things in ways unimaginable just 15 years ago. So, why are methods of governance largely unchanged since the invention of liberal democracy hundreds of years ago?  Although many aspects of government remain entrenched in the past, one area is being brought into the 21st century: identity. With fears regarding third-party data abuse, citizens are more concerned than ever about how this affects their…

Malaysian Ministry of Education Fights Fake Degrees With Blockchain Tech

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The Malaysian Ministry of Education has introduced E-Skrol, an application built on the NEM blockchain to deal with the issue of certificate fraud through the use of blockchain technology. In a Sept. 19 article by local news agency Bernama, the Ministry of Education in Malaysia announced that the previously introduced E-Skrol blockchain application, which makes it possible to verify the authenticity of Maylaysian educational degrees, will now be available for all public and private universities in the country. The E-Skrol application aims to tackle the increasing cases of fake educational…

FCA Warns Public About Clone Firm Offering Crypto Investment

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The British Financial Conduct Authority (FCA) has warned the public about First BTC FX, a supposed clone firm offering fraudulent crypto investments. Using details of an FCA-authorized firm According to an FCA warning published on Sept. 20, First BTC FX is posing as authorized firm First Global Limited. First Global is a trade name for nonprofit organization International First Committee Association. First BTC FX also claims to represent a trade name of First Global on its website firstbtcfx.com. Clone firms posing as legal entities The scam entity claims to provide…