Bitcoin Daily Chart Points A Crucial Breakout Setup With Resistance At $10,000

Bitcoin is trading well above key supports on the daily chart against the US Dollar. BTC seems to be preparing for a crucial bullish breakout above the $10,000 resistance zone. Bitcoin traded as high as $10,390 before it started a minor downside correction. The price is currently trading well above the $9,000 support and the 100-day simple moving average. There is a crucial contracting triangle forming with resistance near $9,750 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair must break the $9,750 and $10,000…

Former BTC Developer Settles ‘Rapist’ Defamation Suit

Peter Todd, a former Bitcoin Core developer, has settled a defamation lawsuit against cryptographer Isis Lovecruft who accused Todd of being a rapist in a tweet posted in February 2019. The terms of the settlement will see the suit dropped without monetary compensation in exchange for Lovecruft issuing a statement “clarifying that they do not assert (as they have never asserted) that Todd raped or sexually assaulted them personally.” Lovecruft uses the pronouns ‘they/them’ and their name is a pseudonym. Sexual assault allegations from Jane Doe In February 2019, Lovecruft…

Compound’s New Token Tops DeFi Rankings on First Day

After a single day of trading, Compound’s COMP token has emerged as the largest decentralized finance (DeFi) token by market capitalization. COMP overtook MakerDAO’s MKR token by market cap as it rallied by more than 60% over just a few hours. The token’s price has since pulled back around 20% from its local highs over $100. Compound’s market cap of nearly $740 million is 35% greater than Maker’s $547.1 million, according to market data aggregator DeFiMarketCap.io. COMP is currently the 20th-ranked crypto asset overall by market capitalization, nudging the second-largest…

39% of Companies Worldwide Now Have Blockchain in Production

Auditing giant Deloitte’s latest survey shows that almost 40% of respondents from major technology companies worldwide currently have blockchain in production — and almost nine in ten think blockchain will become more important in the next three years.  According to the results of Deloitte’s 2020 Global Blockchain Survey conducted from Feb. 6 to March 3, 2020, 39% of 1,488 senior executives and practitioners in 14 countries said they  have already incorporated blockchain into production at their companies —  a 16% increase on last year’s figures. The number rises to 41%…

When Bitcoin Flashed This Signal in 2015, It Rallied 4,000%. It’s Back Again

With Bitcoin failing to break past the highs it established earlier this year, there have been some commentators seriously considering a steep correction. Ross Ulbricht, the founder of the Silk Road and one of the cryptocurrency’s earliest adopters, postulated that there’s a serious chance Bitcoin could revisit the $3,000s and maybe even lower. Ulbricht cited Elliot Wave analysis, which states that markets move in predictable wave-like patterns due to investor psychology. Others have echoed this, with some expecting a move to the $1,000s. But an on-chain signal and a technical…

Chainlink, MakerDAO Honored as World Economic Forum ‘Tech Pioneers’

The World Economic Forum (WEF) has recognized six blockchain firms on its list of 100 ‘early to growth-stage’ companies as Technology Pioneers for 2020. According to the WEF’s website, the blockchain and crypto startups recognized for pioneering new technologies and innovations in 2020 are Lightning Labs, Chainlink, MakerDAO, Bitcoin analytics firms Elliptic, Latin America-based cryptocurrency startup Ripio, and Veridium Labs. They’re among 100 companies from around the world chosen for their contributions to bleeding edge technology, from “artificial intelligence to diagnose cancers and quantum computing systems, to carbon capture and…

Chinese Tech Group Behind TikTok Looks to Enter Finance

ByteDance, the Beijing-based multinational tech group behind Tiktok, is looking into adding banking to its line of products and services. It is currently bidding for a digital bank licence in Singapore, according to the Financial Times on June 15.  Competition is stiff ByteDance is likely to compete with a few other Asian tech giants including Alibaba’s Ant Financial and electronic leader Xiaomi to obtain one of the five virtual banking licences that the Monetary Authority of Singapore is about to issue later this year.  The news reported while citing sources…

Phishing Sites Use Trick Letters in Domain Names to Steal XRP

Cryptocurrencies forensics experts from Xrplorer warned on June 15 of an elaborate phishing scam where hackers try to steal the secret keys of XRP users, under the false premise that Ripple is giving away tokens. According to the report, the scam campaign, whose origin dates back to approximately January 17, 2020, began sending memo messages with minimal XRP amounts that said: “Starting February 1, 2020, Ripple is releasing 3 Billion XRP to incentivize network users. Get 25% more XRP added to your account balance in just minutes.” The scammers linked…

Bitcoin Ponzi Scammer Arrested by Jakarta Police for Sexual Assault

Russ Albert Medlin — co-founder of alleged crypto Ponzi scheme BitClub — was arrested in South Jakarta under accusation of sexual assault on minors. Local news outlet Jakarta Globe reported on June 16 that local law enforcement arrested Medlin on Monday. Jakarta Police chief Yusri Yunus explained that law enforcement received “tip-offs from the public that underage women were often seen” at his residence. When surveilling the place where he was residing, the police saw three teenagers leave his house: “The officers intercepted and questioned three underage women, around 15…

Cybercrime Up 75% During COVID-19, Congressional Hearing Details

Giving the opening remarks during a U.S. House meeting on illegal digital activities, Representative and subcommittee chair Emanuel Cleaver (D-MO) noted a major jump for online crime in 2020. “We are seeing a 75% spike in daily cybercrimes, reported by the FBI since the start of the pandemic,” Cleavor said in his opening statements of the June 16 virtual hearing before the Subcommittee on National Security, International Development, and Monetary Policy.  Speaker dials into specific attacks and sectors After COVID-19 prevention measures caused business closures and shelter-in-place orders in mid-March,…