Ethereum Corrects 5% But Here Is Why Uptrend Is Still Intact

Ethereum started a downside correction from the $148 resistance versus the US Dollar, similar to bitcoin from $8,450. However, ETH price is still in an uptrend unless there is a close below $135. Ether price corrected lower after it failed to bounce from the $142 support against the US Dollar. The price is currently finding support near the $138 level. This week’s followed bullish trend line was breached with support near $142 on the hourly chart of ETH/USD (data feed via Kraken). The pair is still in an uptrend and…

Crypto Trading Privacy Gets a Boost as $15M of Tether Moves to Liquid Sidechain

Stronger privacy is coming to the largest stablecoin, tether, with a recent blockchain-to-blockchain swap of $15 million worth of tokens. At 11:27 UTC on Jan. 7, stablecoin issuer Tether conducted a cross-chain swap of some 15 million USDT reserves from ethereum to Blockstream’s Liquid, a federated sidechain running parallel to the bitcoin blockchain. The technical possibility of USDT’s Liquid debut was first announced in July 2019. Innocuous at first glance, the transfer has implications for both digital asset trading and the larger tether market, which saw a mass migration from…

Libra Exec Boasts Project’s Benefits Over Bitcoin at CES 2020

The vice-chairman of the Libra Association has been touting the benefits of the project over Bitcoin at the Consumer Electronics Show (CES) in Las Vegas. Dante Disparte, the vice-chairman of the non-profit organization overseeing the proposed digital currency led by Facebook (NASDAQ:FB), was speaking at the Digital Money Forum of the CES, where he emphasized Libra’s advantages over Bitcoin, the largest cryptocurrency in the world. “Bitcoin as an asset class has proven that mathematical scarcity can support an incredibly exciting asset,” said Disparte, before adding, “It’s not a means of…

Travis Kling on Bitcoin as a Safe Haven Asset

The conversation about whether bitcoin is a safe haven asset continues in the wake of Iranian missile strikes, which saw the price of BTC both surge and retrace in parallel with crude and gold. To help explain what’s going on, we feature comments from Ikigai Asset Management’s Travis Kling.  Also in today’s episode, we look at newly published priorities from the SEC around crypto including investor suitability, trading practices and compliance program effectiveness. We also discuss former Bakkt CEO and now U.S. Senator Kelly Loeffler’s appointment to the committee that…

Vulture Investor Is Looking to Buy QuadrigaCX Creditors’ Claims

A New York investment firm wants to buy claims from former QuadrigaCX users – provided there’s enough interest from creditors entitled to assets held by the infamous exchange. Argo Partners is opening a dialogue with creditors of QuadrigaCX, which collapsed nearly a year ago following the death of its founder and CEO Gerald Cotten, in hopes of gauging how many individuals will sell stakes in its remaining funds. Creditors who don’t want to wait for court-appointed bankruptcy trustee Ernst & Young (EY) to sort through the claims and liquidate assets…

Kraken Lists USDC the Day After Binance Drops It for Some Pairs

Kraken has listed the USD Coin, which it described as the “world’s fastest-growing stablecoin,” the day after rival Binance removed certain trading pairs for the same coin claiming “low liquidity.” Kraken said deposits and trading would go live Wednesday for USDC trading pairs with bitcoin, ether and tether, as well as the U.S. dollar and euro. The exchange added the stablecoin enjoyed “unparalleled” support from more than 100 companies and 60 exchanges in the crypto industry. “In December, USDC became the second stablecoin to ever have its market cap cross…

Court Denies SEC Request to Make Telegram Reveal ICO Bank Records

The District Court for the Southern District of New York has denied a request by the United States’ securities regulator to make Telegram reveal its bank records. According to a Jan. 6 court order signed by Judge P. Kevin Caste, the court has denied an application by the U.S. Securities and Exchange Commission (SEC) to “compel the production of defendant’s bank records.”  Telegram must prove that its bank records comply with data privacy laws The new court decision refers to a Jan. 2 application by the SEC to compel Telegram…

SBI, GMO Reportedly Sign Deal with Operator of World’s Largest Bitcoin Mining Site

The operator of what is set to become the world’s largest Bitcoin (BTC) mining facility has reportedly signed a deal with Japanese financial services giant SBI and internet provider GMO. A Jan. 7 BNN Bloomberg report claims that the two Japanese mega-firms have agreed in principle to process cryptocurrency transactions at a new mining facility — of unprecedented scale — now being developed in Rockdale, Texas. The facility will be operated by Whinstone Inc., a subsidiary of the Frankfurt-based Northern Bitcoin AG. Whinstone — which has been operating since 2014…

Litecoin ‘Largest Miner Capitulation’ Great News for Bitcoin — Analyst

Bitcoin (BTC) could have its bull market induced by Litecoin (LTC) as the latter enters a bullish renaissance, noted statistician Willy Woo has forecast. In a series of tweets on Jan. 6, Woo, well known in crypto circles as the creator of data resource Woobull, highlighted an upturn in Litecoin’s fortunes in recent weeks. Woo: Litecoin difficulty “in recovery” Specifically, it is the altcoin’s mining difficulty that has begun rising once more after more than six months of decline. The difficulty is a measure of how much computing effort is…

Bitcoin Scam Ads Featuring Martin Lewis Now Spotted on Instagram

Bitcoin (BTC) scam ads featuring the likeness of Martin Lewis have continued to appear on social media despite Lewis’ previous efforts to prevent such illegal practices. After the British financial expert settled a defamation lawsuit against Facebook for showing unendorsed fake Lewis crypto ads in 2019, new scam adverts have now been spotted on Facebook-owned Instagram. Reported by Twitter user @peterfinn5252 on Jan. 7, the scam Instagram ad shows Lewis’ face to promote a fake article pretending to be published by major British national daily tabloid The Mirror.  The fake…