Ripple (XRP) Is Primed For Another Rally And Only 1 Thing Is Holding It Back

Ripple surged higher recently above the $0.2650 and $0.2720 resistances against the US Dollar. XRP price remains well supported and it could soon rally to $0.3000 if it breaks $0.2810. Ripple price rallied to a new 2020 high at $0.2811 and it is consolidating gains against the US dollar. The price remains well supported on the downside near the $0.2730 and $0.2700 levels. There is a key contracting triangle forming with resistance near $0.2788 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely…

Unknown Number of Major League Baseball Players Lured into Crypto Ponzi Scheme

Two men charged over an alleged crypto trading ponzi scheme lured investors, including professional baseball players, with social media posts boasting about their luxurious lifestyles. On January 30, the Secret Service arrested the Arizona-based founders of Zima Digital Assets, John Michael Caruso, aged 28, and Zachary Salter, aged 27. Caruso commonly refers to himself as “Krypto King” in social media posts and claims he’s been a cryptocurrency investor since 2012. He has a criminal history and was last released from prison in late 2017. Salter is an aspiring R&B singer…

Ethereum Above $200 Indicates A Massive Rally To $240 And $250

Ethereum price rallied recently and surpassed the $200 barrier against the US Dollar. ETH is now trading nicely above $200, with many signs of more upsides. Ethereum climbed higher and settled above the main $200 barrier against the US Dollar. The price traded as high as $208 and it is currently correcting lower. There is a major bullish trend line forming with support near $198 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price also jumped above $9,500 and traded to a new 2020 high close to…

Singapore AML Framework Can Attract Crypto Businesses, Not Chase It Away

As crypto continues its foray into the mainstream financial world, more countries are recognizing digital assets legally. Singapore is the latest to join the party. On Jan. 28, the Monetary Authority of Singapore’s (MAS) Payment Services Act went into effect, setting up a framework for the regulation of payment-related activities in the country.  Given that the bill requires that all crypto businesses get registered and licensed (and partly resembles the nature of 5AMDL measures recently enacted in Europe), now seems like the time to have a closer look at Singapore’s…

Germany’s BaFin Clarifies Licensing Process for Foreign Crypto Custodians

Germany’s Financial Supervisory Authority (BaFin) is clarifying how the country’s new cryptocurrency custody law will apply to firms that operate outside of Germany but still serve the German market. In its latest guidance released in January, the regulator said firms already custodying digital assets for Germans would not be penalized for not having a license. Instead, they’d be grandfathered into the same protection that crypto custody firms based in Germany already have under the new law, which went into effect on Jan. 1.  This means those firms must also announce…

Bitcoin Rises Above $9,700 to Reach Highest Point in 3 Months

Bitcoin (BTC) has continued its journey north to reach its highest point in over 3 months after defying expectations of a temporary pullback in its price. Over the course of eight hours, starting at 10:00 UTC on Feb. 5, the price of BTC rose 5.9 percent from $9,250 to around $9,775 before a small sell-off ensued that brought prices back to current levels at around $9,559. Oliver von Landsberg-Sadie, CEO of U.K. crypto firm BCB Group said the recent moves in BTC were likely due to shallow market depth amplifying…

Ethereum Developers Reveal Holdup With Serenity in Reddit AMA

The development team behind Ethereum 2.0 held an Ask Me Anything (AMA) session on Feb. 5. The team answered some of the most pressing questions on Serenity, in addition to general themes such as Proof of Stake (PoS). There have been two other such sessions, six months and one year ago, respectively. While no groundbreaking changes occurred since the last AMA, the team is making concrete steps toward Ethereum (ETH) scalability. Phase 0 to come in 2020 Answering questions on what has changed in Ethereum 2.0 since the last AMA…

Craig Wright Accused of Abusing Attorney-Client Privilege in Trial

Craig Wright, the self-professed creator of Bitcoin (BTC), has been accused of abusing attorney-client privilege in order to block documents from being used as evidence in the ongoing trial against him. Australian computer scientist and businessman Craig Wright is being sued by the family of his deceased business partner Dave Kleiman for US$10 billion in Bitcoin, said to be encrypted in a “Tulip Trust.” In a court document filed on Sunday in Southern District Court of Florida, the legal team representing Ira Kleiman, brother of the deceased, challenged Wright’s “illusory” assertion…

Bitcoin Hedge Argument Growing Stronger With Time, Says Pomp

Anthony Pompliano, Co-Founder of digital asset management company Morgan Creek Digital, said his view of Bitcoin (BTC) as a global hedge has solidified over time.  “I think it’s always been part of the conversation,” Pompliano told Cointelegraph in a Jan. 30 interview on his notion of Bitcoin as a traditional market hedge over the years.  The expert expressed a growing assurance in this concept of Bitcoin as a global hedge as supporting evidence continues to present itself. “The more data you get, the more that you can believe something,” he…

Crypto Goes IPO — Ripple Could Lead the Blockchain Industry’s Charge

2020 could be the year that crypto companies step forward and take the plunge into going public. As the biggest players in the industry cautiously watch for opportunities to gain regulatory approval, Ripple CEO Brad Garlinghouse used the prestigious Davos World Economic Forum summit to announce that the firm was considering an initial public offering later on in the year.  Crypto companies looking to go public face a paradox. Financial firms often have to meet stringent regulatory standards. Failing to adequately reassure regulators can result in companies being frozen out…