Correlation Between Bitcoin Price and Stocks Reaches a New All-Time High

Lately, Bitcoin price has been showing record-high levels of correlation with traditional markets and on July 9 the correlation between the S&P 500 and BTC reached a new all-time high.  Data from Skew shows that the one-year realized correlation reached 0.38 on Thursday, July 9 and this came after the metric had reached new highs earlier in the week. Bitcoin – S&P 500 Realized Correlation. Source: Skew The correlation with traditional markets has been growing at a steady pace recently, with the one-year reaching consecutive new all-time highs. Data from…

Data Suggests Bitcoin Price Will Rise as Investor Demographics Shift

Bitcoin (BTC) has been trading sideways for around a month now and is being outperformed by several other altcoins like Ether (ETH) and Chainlink (LINK). The cryptocurrency also hit the lowest levels of volatility since November 2018.  Moreover, Bitcoin’s trading volume in it’s USDT and USD pairs has decreased by 56% and 44%, while global crypto trading volumes in June are down by 49.3% as well, according to CryptoCompare. While some point to these key factors as the start of a downtrend in Bitcoin price, there are still a few…

Regulators Are Guarded But Getting There, July 3-10

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.  Editor’s note Policy changes slowly. Crypto wants to move fast. Sometimes fairly, sometimes not, the crypto industry often portrays traditional financial regulators as calcified relics unprepared to deal with the coming new world.  To be fair, everyone seems to acknowledge that markets and trading systems need comprehensive upgrades, but national and international regulators are accountable to a wider range of concerns than any specific industry. The crypto industry sometimes takes that…

Your Passwords Could Be For Sale on the Dark Web Right Now

A recent study revealed that over 15 billion credentials are in circulation via the dark web, representing a 300% increase since 2018. Available information ranges from network access credentials, banking login data, and even streaming services accounts from Netflix. According to research conducted by the cybersecurity firm Digital Shadows, part of the leaked data is even circulating for free. The report warns that the reason that so many account credentials are available online is that people are using non-complex passwords that can be easily brute-forced using hacking tools. Access to…

Ukrainian Hacker Caught Selling Government Databases for Crypto

A Ukrainian hacker got caught selling confidential information gathered from Ukrainian central government databases.  According to a media release from the Ukrainian Cyberpolice, a hacker whose identity was not disclosed was able to break into many government databases by compromising personal accounts of authorized staff.  The hacker reportedly used brute force approaches to break into email addresses and social media accounts. Through this simple method, he appears to have found 50 government databases with up-to-date information. He then sought to sell the captured information on hacker forums in exchange for…

Binance CEO CZ Showcases First Use of Binance Card

Binance’s CEO has just demonstrated the first use of Binance Card, a cryptocurrency debit card that was first announced by Binance in April 2020. In a July 10 tweet, Binance CEO Changpeng Zhao revealed that he is taking part in Binance Card beta testing, featuring transactions involving Binance’s native token, BNB. This story is developing and will be updated. Author: Cointelegraph By Helen Partz Source link

One of Ripple’s Co-Founders Is Spending a Fortune Installing Cameras in San Francisco

Crypto mogul and Ripple co-founder, Chris Larsen, paid over $4 million to install 1,000 high-definition cameras on the streets of San Francisco. He claims his goal is to combat crime, specifically theft. According to a report published by The New York Times, Larsen – who recently recovered from COVID-19 – decided to take up this project after a group of unknown men climbed into his garden in 2011 and cut the wires to his home security while his children were sleeping inside. “Alternative” system for public security Ripple’s executive chairman…

The United States Has to Upgrade the Legacy Financial System

When the United States government voted in stimulus payments to its citizens in the wake of COVID-19, to say it went well would be… categorically untrue. From delivering checks to the deceased to the simple fact that most people would have to go to a bank to cash a paper check during a viral pandemic, it became clear that our financial systems are not prepared for this.  As countless Americans struggle to stay afloat, the effects of COVID-19 have confirmed what many have suspected for years now — this system…

Key Short-Term Scalability Feature Still Needs Research, Says Vitalik Buterin

Research into stateless clients for Ethereum is seen as instrumental for the long-term health of the network, but despite all the progress, some fundamental limitations prevent them from being applied in practice for now. At the Unitize conference, Vitalik Buterin, a co-founder of Ethereum, provided an up-to-date picture on the latest progress and problems for the stateless client transition. Stateless clients, in short, are a way to allow nodes to fully participate in validation without having to hold the entire earlier history of the blockchain. The state represents all current…