Dan Morehead, the CEO of bitcoin investment firm Pantera Capital, says everyone needs to chill out about the current Crypto Winter. Morehead reminded the myopic industry that the crypto space had weathered similar bear markets before, and this one actually bodes well for the future of bitcoin and blockchain. ‘Underlying Fundamentals Are Much Stronger’ “This is actually our second Crypto Winter,” Morehead said on Laura Shin’s podcast Unconfirmed (audio below). “There was one in 2014 to 2015. In the previous one, I had more of a worry in the pit of my stomach about whether blockchain was actually going to work.
When Satoshi Nakamoto created bitcoin, a message in the cryptocurrency’s Genesis block made clear that it was a direct response to banking industry mismanagement and the financial and political structures that continued to enable it. Just one decade later, US President Donald Trump might tap a cautious crypto optimist to lead the World Bank. Trump Considering El-Erian for World Bank President According to Bloomberg, Mohamed El-Erian is one of several candidates that Trump has shortlisted for the job of World Bank president. The 60-year-old El-Erian currently serves as chief economic adviser at Allianz, where his views on bitcoin have
Ari Paul, the co-founder of crypto investment firm BlockTower Capital, says bitcoin adoption is at a standstill because Wall Street is taking a “wait-and-see” approach amid the bear market. In a lengthy tweetstorm, Paul says institutional viewpoints about cryptocurrencies fall into three categories: Venture capital mindset: Is there value creation we can capture with early-stage investment? Passive bitcoin or index exposure: Is this going to be digital gold or a portfolio hedge? Is this a market where we can generate profits as service providers or through active trading? Institutions Are In ‘Wait-and-See’ Mode Paul says the three viewpoints are not
The Australian Transaction Reports and Analysis Centre (Austrac) has now officially registered 246 cryptocurrency exchanges. Pro-regulation industry participants have described the move as a key step towards legitimizing crypto assets. The registration process includes performing background checks and other anti-money laundering procedures on the entities involved.
Austrac Says Regulation Will Curb Money Laundering and Terrorism Financing
Australia amended its anti-money laundering and counter-terrorism laws last year, making it a requirement for digital asset exchanges to register with Austrac, the country’s top financial intelligence agency.
Crypto winter shows no signs of abating anytime soon. In the past week, bitcoin rounded out its sixth consecutive month in the red while the NEM Foundation suspended all projects and partnerships due to the sinking XEM price.
Bitcoin is edging closer and closer back to the critical $ 3,500 support level that some estimated it would stand on for awhile. Ethereum gained a dollar overnight. But more notably, so did Litecoin — more than a dollar, actually. Confidence in Litecoin seems to be growing after its rebranding. The stalwart altcoin, intended to be “silver to Bitcoin’s gold,” is notably seen as having a growing community and userbase. On the same note, Augur continued its growth pattern over the 24-hour period, reaching an average of more than $ 13. Bitcoin Price Edges Toward Crucial $ 3,500 Level The Bitcoin price saw
A new Ethereum token called “Wrapped Bitcoin” just launched Thursday. How Wrapped Bitcoin Works The purpose of the new cryptocurrency is to enable Bitcoin users to “participate in Ethereum smart contracts natively on the Ethereum blockchain.” Last October Bitcoin custody company BitGo announced a partnership with Kyber Network and Republic Protocol to launch Wrapped Bitcoin (WBTC), a token on the Ethereum blockchain that acts as a 1-to-1 token backed by Bitcoin reserves. In a blog post announcing the new token BitGo stated: “WBTC users will be able to utilize Bitcoin in a wide variety of new decentralized use cases, including
QuadrigaCX, the largest bitcoin exchange in Canada, has lost $ 190 million worth of crypto after it lost access to its cold storage wallets. An affidavit filed on January 31 with the Supreme Court of Nova Scotia revealed that $ 190 million in Bitcoin, Bitcoin Cash, Bitcoin Cash SV, Bitcoin Gold, Litecoin, and Ethereum were lost. How Did the Bitcoin Exchange Lose All of its Crypto Funds? The affidavit, first obtained by CoinDesk, was filed by Jennifer Robertson, the widow of QuadrigaCX founder and CEO Gerald Cotten. According to a death certificate included in the affidavit, Cotten passed away in India after
The bitcoin price on Friday posted a modest 0.9 percent surge as it corrected from its ascending channel support level and sought to climb back into bullish territory. Bitcoin Price Charges Back Toward $ 3,500 The bitcoin-to-dollar exchange rate (BTC/USD) established its intraday low at $ 3,371 right at the beginning of the Asian session. The pair consolidated until the European trading hours kicked in, after which it underwent a modest correction. The positive sentiment rippled through the US trading session, during which BTC/USD established an intraday high at $ 3,458. The upside correction appeared despite a shocker from Canada. QuadrigaCX, the region’s
Bitcoin Cash proponents can purchase collectible and loaded BCH notes from a company called Global Notes based in Melbourne, Australia. The creator of Bitcoincashnotes.com is a firm believer in Satoshi Nakamoto’s vision for a peer-to-peer electronic cash system and thinks the low fees tethered to the BCH chain are “vital for the economic feasibility” of the company’s physical bitcoin cash product.
The Daily curates stories from the eclectic and often bizarre world of Bitcoin. Today’s roundup demonstrates just how varied that world can be, taking in Bitcoin carnivory, decentralized apps, and a new price comparison tool for token traders. We begin in Canada though, with confirmation that Quadrigacx exchange has bitten the dust.
In the last 24 hours, the crypto market has slightly declined by $ 2 billion in valuation as the Bitcoin price fell by one percent. The decline in the value of major crypto assets in the likes of Ripple (XRP) and Ethereum (ETH) which recorded drops in the range of three to five percent prevented the market from continue recovering. From January 30 to January 31, the crypto market seemed to be rebounding as its valuation rose from $ 111 billion to $ 115 billion. But, in the past 12 hours, the valuation fell back to $ 112 billion, unable to sustain its momentum.
It’s a case of police entrapment that goes beyond the pale. After a ruling Wednesday by the U.S. Third District Court of appeals, a Florida man will have to face a trial by jury over felony charges in Miami for selling bitcoin to undercover police. Felony Charges for a Victimless Crime? “Espinoza’s bitcoins-for-cash business requires him to register as a payment instrument seller and money transmitter” under Florida financial statutes, the court ruled Wednesday, adding that he was “not merely selling his own personal bitcoins, he was marketing a business.” Now he’ll face serious felony charges for money laundering as
The Chicago Board Options Exchange (CBOE) and VanEck refiled their Bitcoin exchange-traded fund (ETF) application. But, there likely won’t be a Bitcoin ETF by the end of the year and possibly by the year’s end. On January 31, as CCN reported, VanEck announced that it submitted its newly drafted Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC). The VanEck SolidX Bitcoin ETF proposed rule-change has been submitted by CBOE. Hard work by all teams involved. Public document: https://t.co/X25lOPjiFS pic.twitter.com/C9FP4adDE8 — Gabor Gurbacs (@gaborgurbacs) January 31, 2019 Why There Will be No Bitcoin ETF Until the Year’s End
The US stock market is taking an uneven path on Thursday morning, with the Dow suffering triple-digit declines while tech stocks rise. The cryptocurrency market is almost universally sour, however, as traders continue to wrestle with that is now the longest-ever bear market for the bitcoin price. Dow Risks Fall Back Below 25,000 The Dow had stomped to a monster 435 point gain on Wednesday as the stock market rode the wave of continued Federal Reserve patience on interest rate hikes, as well as positive earnings reports from major firms including Apple and Boeing. That bullish sentiment did not carry
Binance, the world’s largest crypto exchange by daily trading volume, enabled credit card payments on its platform to allow users to purchase Bitcoin and other major crypto assets using Visa and Mastercard. The integration of credit card payments into the Binance trading platform comes after Binance CEO Changpeng Zhao (CZ) emphasized the importance of fiat on-ramps in increasing the mainstream adoption of cryptocurrencies. Why Credit Card Payments are Crucial on Binance Earlier this month, in an interview with Boxmining at the Binance Blockchain Week conference in Singapore, CZ said that it is important to strengthen the infrastructure that supports fiat-to-crypto
Fidelity Investments, one of the world’s largest asset managers, is breaking into bitcoin custody.
According to a recent report from Bloomberg, three people “with knowledge on the matter” from firms in contact with Fidelity have said that the company is tentatively planning to launch a custody service for bitcoin in March.
This move would fall in line with the company’s recent pushes toward the crypto space. Last October, Fidelity announced the creation of a platform for institutional traders to invest in cryptocurrencies, using over-the-counter trading and cold storage to ensure the security of the various assets.
The first major Bitcoin conference, Bitcoin 2013, was held in San Jose, California. Organized by the Bitcoin Foundation, it was centered on Bitcoin specifically and the more pragmatic issues that Bitcoin was trying to solve, particularly in the areas of Bitcoin technology, Bitcoin mining, Bitcoin business and regulatory issues.
Writing for Bitcoin Magazine at the time, Vitalik Buterin commented, “For long-time Bitcoin users, events like this are particularly emotional; here, for the first time, we are able to see fellow Bitcoin users, whom we have loved, worked with and had heated arguments with over forums or Skype/IRC chat for many months or years as something more than just a username. Entire companies, existing only ‘on the cloud’ before this day, are finally reunited.”
The cryptocurrency market experienced a minor-to-moderate recovery on Wednesday, but that doesn’t mean the mood has turned bullish. The Bitcoin price’s technical factors still favor selling, even as the asset pushes back toward $ 3,500. In the altcoin markets, Bitcoin SV has continued its long-running slide from glory over the past few days of trading. At present, a single BSV coin is worth less than 1 Dash. Bitcoin Price Flashing ‘Strong Sell?’ Bitcoin earned a sell rating across markets. On itBit, its rating was “strong sell.” The Bitcoin price was different everywhere, making for arbitrage opportunities as large as the day
On Jan. 30, a group of cryptocurrency developers and organizations officially launched a project called Wrapped Bitcoin (WBTC) on the Ethereum network. The ERC20 token is a coin backed by bitcoin core (BTC) reserves and has started trading on several exchange platforms.
The Introduction of Wrapped Bitcoin
Last October, a joint initiative by Bitgo, Kyber Network, and Ren (formerly Republic Protocol), revealed the creation of a new ERC20 token called WBTC. The new tokens are meant to bring more liquidity into the decentralized ecosystem between both chains, while also enhancing decentralized applications. Wrapped bitcoin (WBTC) is the first ERC20 token backed 1:1 with BTC. The organizations that developed the protocol believe WBTC is the beginning of a multi-institutional framework for tokenizing any asset.