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Bitcoin Exchange LocalBitcoins To Shut Down, Citing Market Conditions

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According to an announcement on its website, the peer-to-peer Bitcoin platform will be shutting down before the end of February 2023.

LocalBitcoins has announced that the exchange will be closed for service by the end of February. The long-time Bitcoin trading service was the first peer-to-peer (P2P) transaction platform for many Bitcoiners. Launched in June 2012, the exchange is one of the oldest entities in Bitcoin, establishing itself as a primary P2P player in its hey-day with over $ 100 million in weekly trading volume of peer-to-peer transactions.  Read more...

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Coinbase Ends Operations In Japan Citing Extreme Market Conditions

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The cryptocurrency market, regardless of the ongoing “mini bull run,” is still a long way from its 2021 levels, with companies laying off staff and some even closing operations. The latest on the list of firms halting services is Coinbase.  Per a recently published blog post by Coinbase, the crypto exchange company said it would be closing down its operations in Japan. 

The exchange said the halting of operations in Japan has no effect on its other official branches across the globe. Coinbase Japanese customers are to withdraw their crypto and fiat holdings by February 16. The company stated it would conduct a complete review of its business in the country following the market conditions closing in.  Read more...

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Bitcoin Miner Riot Q2 Update Underscores Market Conditions, Holds Over 6,000 BTC

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The company still holds a large treasury and ramped up its infrastructure through a $ 14 million bitcoin sale and dumping over 30 million shares onto the market.

  • Riot increased its mining fleet to over 44,000 miners and still has more than 3,000 left to deploy.
  • The company’s bitcoin production rose 107% YoY.
  • A $ 14 million bitcoin sale and a 30 million share offering strengthened the company’s cash position.

Bitcoin miner Riot released its Q2 bitcoin mining and production update on Tuesday, which highlights ongoing capitulation trends in the bitcoin mining industry, but Riot’s capitulation paid for expansion while others simply needed to stay afloat.  Read more...

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Iran Legalizes Crypto Mining Within Days of a Chinese Plea for ‘Better Conditions’

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Iran is legalizing crypto-mining, giving a boost to this activity which was already booming despite the unfavorable position of the authorities. According to the Iran Chamber of Commerce, Industries, Mines and Agriculture, the government decided to give the green light to this activity, promoting a series of legal reforms that put an end to a […]

The post Iran Legalizes Crypto Mining Within Days of a Chinese Plea for ‘Better Conditions’ appeared first on CCN Markets

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John Oliver, Amazon Spar on E-Commerce Factory Working Conditions

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John Oliver, the host of “Last Week Tonight” on HBO, took a shot at Amazon on his latest episode. His rant wasn’t limited to just Amazon, and he targeted the entire warehouse industry for the crummy working conditions that employees must endure. But he singled out Amazon because they are a leader and trendsetter in the e-commerce […]

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Ethereum Recovers 15% Within Minutes, is it Demonstrating Oversold Conditions?

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On December 8, within 15 minutes, the Ethereum price increased by more than 15 percent against the US dollar. Several traders expected Ethereum (ETH) to experience a short-term corrective rally after it dropped to a yearly low at around $ 82. A Local Bottom Prior to its price drop, a prominent technical analyst with an online alias

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Crypto Market Recovers by $3B: Oversold Conditions Show Bitcoin Bottom

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In the last 24 hours, the valuation of the crypto market increased from $ 137 billion to $ 140 billion after a minor recovery of around 2 percent. Both major cryptocurrencies and small market cap tokens have ended the day with relatively minor losses in the range of 1 to 3 percent. Is Bottom Near For Bitcoin?

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Ethereum (ETH) Defends $250 As Price Reaches Oversold Conditions

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Ethereum (ETH) Defends $ 250 As Price Reaches Oversold Conditions

Ethereum (ETH) has successfully defended its $ 250 support without giving in to market panic. As most coins fell significantly, Ethereum (ETH) held its ground at this strong demand zone. The price rebounded strongly off the $ 250 level and ha now formed three consecutive green candles on the ETH/USD daily chart above. The price has currently broken past the $ 300 mark and is now expected to rise further. It faces a near term resistance at the 50 EMA which has been a strong resistance since June.

Continue reading Ethereum (ETH) Defends $ 250 As Price Reaches Oversold Conditions at Crypto Daily™.  Read more...

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Coinbase Index Fund Launches for Big-Money Investors Amid Brutal Market Conditions

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Coinbase is now allowing accredited investors with deeper pockets the ability to utilize the Coinbase Index Fund, which offers exposure to every asset listed on the popular exchange. 

Greater Exposure

The previously announced Coinbase Index Fund has officially opened for investments of $ 250,000 to $ 20M.

Reuben Bramanathan, Product Lead of Coinbase Asset Management, stated in an official announcement:

We’ve seen overwhelming interest from investors since we announced the fund earlier this year. At this stage, we have opened the fund to those who wish to invest $ 250,000 to $ 20M.  Read more...

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South Korea Set to Legalize ICOs Under New Conditions

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The government of South Korean appears to be on the verge of legalizing ICOs after the 2017 ban. According to the Korea Times, a coalition of lawmakers are looking to obtain a consensus in the National Assembly to pass a bill making ICOs legal in the country.

Details of the Proposed ICO Bill

Rep. Hong Eui-rak is leading the move to legalize ICOs in the country. He is a member of the South Korean ruling party, the Democratic Party of Korea. According to Rep. Hong, the proposed bill the result of the collaboration between his office and the Korea International Trade Association (KITA).  Read more...

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