Crypto news

Recent Chinese reports indicate that a new cryptocurrency scam, resembling the notorious PlusToken, has been brought to trial this week. Dubbed WOTOKEN, allegedly scammed over 700,000 users and absorbed more than $1 billion worth of Bitcoin and other digital assets.The New Chinese Threat: WOTOKENAccording to local reports, the trial began on May 14th in the People’s Court of Binhai Country, Yancheng City, against six defendants allegedly operating the WOTOKEN project. More specifically, the...

The Libra Association has added another member to its long list of governing firms. This time, the addition comes in the form of Temasek Holdings Pvt. Ld. In Singapore. The company is a state-owned investment firm and will assist in all future decision-making when it comes to Facebook’s official currency.Libra Sees Temasek Join UpIn a statement, the Association explains:Temasek, a global investment company headquartered in Singapore, brings a differentiated position as an Asia-focused...

Popular social media platform Reddit is releasing two new Ethereum-based tokens. These currencies will be granted to Reddit users who create appropriate or stellar content.Reddit Is Working in the Crypto SpaceThe tokens will be known as $MOONS and $BRICKS. They’ll be issued to the subreddits of both “Fortnite” and cryptocurrency, respectively. They are part of a new “Community Points” program in which users are ultimately rewarded for posting material.A Reddit spokesperson explains:We...

Bitcoin may be at the center of crypto enthusiasts’ attention as of late due to the recent halving, but it’s not the only coin that’s on a bull run. Tezos (XTZ) – the tenth largest cryptocurrency by market cap – has lots of fans going crazy about where it will go, as it has already risen by more than 80% since the beginning of the year.Tezos Is Getting a Solid ReputationAt the time of writing, Tezos is trading for just over $2.50. That’s about 85 percent higher than where it stood during the...

American professional basketball player, Spencer Dinwiddie is raising nearly $25 million worth of Bitcoin from fans and will allow them to pick his next team. Should the campaign fail, though, the current Brooklyn Nets guard plans to give all bitcoins for charity.Dinwiddie To Raise BitcoinsThe 27-year-old basketball player is under contract with the New York team at least until the 2020-21 season. Before the suspension of the NBA season, he was enjoying his best year yet, averaging 20.6...

Over the past day or so, Bitcoin suffered from a massive price correction. After reaching the $10K zone for the second time in 10 days, Friday’s devastating candle saw a huge drop of over $800 to $9112, which is the current low on Bitstamp.If you had read our previous price analysis from Thursday, you can’t be surprised. Along with calling the $9800 – $10,000 the “real test” for Bitcoin’s short-term, we also mentioned that the parabolic move since the halving “better slow down because we all...

Jared Tate, the Founder of DigiByte (DGB), announced that he will be stepping aside from day-to-day operations due to the “Greed…and rampant pillaging” of the cryptocurrency industry.Tate announced his departure from the front-end of the crypto space on his Twitter page on May 15. After eight years in the industry, he had this to say about his experiences:“Along the way I have learned some very humbling lessons. #1 of which is greed is the fundamental driving force in crypto & people’s...

Telegram has ended its dealings in cryptocurrency. An encrypted messaging service, Telegram initially announced a token sale of its new “GRAM” token, which garnered the company more than $1 billion in additional funds, but thanks to a longwinded fight with the Securities and Exchange Commission (SEC), it looks like the GRAM is never going to get off the ground.The Battle Is Lost for TelegramThe GRAM token was supposed to work in cahoots with the company’s new TON blockchain. Customers of the...

Bitcoin’s halving finally took place at block 630,000 on May 11th, 2020. Like many cryptocurrency enthusiasts and market participants pointed out, the block countdown felt much as if it’s New Year’s Eve. However, it’s already behind our backs, and the price has managed to add another $1,000 to it since then.In the four short days since the halving, Bitcoin increased from $8,550 to where it currently trades at around $9,380. This marks an increase of about 11%. As a matter of fact, BTC tested...

If the Federal Reserve decides to implement negative interest rates as many have anticipated, it could prove to be a key pivot point in the story of Bitcoin.That’s according to a May 14 report by Stack Funds, which states that an era of negative rates could be Bitcoin’s time to shine.Negative Rates a Pivot PointThe report notes that the threat of negative rates, coupled with the injection of $3.5 trillion newly printed dollars into the economy will cause investors to turn away from...