Tag Archives: Cryptocurrency News

Facebook sat down with the United Kingdom's finance ministry, the central bank, and other regulatory officials in what was presumably a pre-emptive move to win favor before announcing its own self-titled cryptocurrency, Libra. This new revelation comes from Reuters, which received the details from freedom of information requests and claims that the responses illustrate an intentional effort to garner support for Libra before its unveiling in mid-June. The social media behemoth reportedly sat...

In a move that wasn't entirely unexpected, the Bitcoin price has plunged below $10,000 in a breakdown that started around 1 PM UTC this morning. The quick dump liquidated approximately $150 million in long positions on BitMEX. Everyone's Bitcoin Price Triangle To say that this morning's dump was not unexpected is to understate the current situation. Nearly every technical analyst with a TradingView account has drawn the same (or similar) descending triangle as the one reproduced below....

In the world of cryptocurrency and bitcoins, which I consider to be a bubble worse than the Dutch tulip craze of the 1600s, there could only be one thing worse. That would be saying something because as I've argued repeatedly here at CCN, bitcoin is vapor. There is nothing to back it, it isn't money, there is no rhyme or reason for the price that it trades at in the market, and is nothing more than gambling in a casino that has worse odds than Las Vegas. While supporters of bitcoin scream...

Alternative coins or altcoins have been slowly bleeding over the last two years. This is especially true for altcoins in their bitcoin (BTC) pairs. Many are down by over 90% from their all-time highs. Some mid-cap coins have even breached their historical support levels and are printing fresh lows on an almost daily basis. The drop was so deep that some retail traders had to cut their losses after months of HODLing. OrangeDog Tweet. | Source: TwitterFor experienced traders,...

The results of a cryptocurrency survey conducted by the Dutch banking group, ING, revealed a significant lack of appetite for Facebook's Libra, and its designated use case: Sending payments across social media. Taking 15,000 Europeans, from 15 distinct countries, the survey collated Europe's sentiment around digital currencies. Questions ranged from the future of cryptocurrencies to whether or not respondents would go swap cryptos out in lieu of cash. Want Some Libra?...

U.S. President Donald Trump has previously spoken out against Bitcoin but he probably would never have imagined that his own justice department would unwittingly get involved in promoting the cryptocurrency. But they are, according to the American whistleblower hiding in Russia, Edward Snowden. Trump wants to seize Snowden’s money Specifically, the U.S. Attorney’s Office for the Eastern District of Virginia and the Department of Justice’s Civil Division has filed a lawsuit...

Governments around the world went on high alert after American social media giant Facebook announced a permissioned blockchain digital currency, named Libra. Unsurprisingly, the prospect of a privately-backed alternative digital currency didn't exactly excite financial regulators in North America, Europe, and Asia. Here are the four countries that really don't like Facebook's Libra. France Is Not a Fan of Libra France has, perhaps, been the most vocal opponent of Facebook's...

Blackstone head honcho Stephen Schwarzman is rich. Really rich. Almost twice the market cap of bitcoin-level rich, in fact. The man who was, once upon a time, lauded as the “Master of the Alternative Universe” built his empire by taking risks. Over the years, the billionaire CEO has traded in a wide variety of businesses including a casino, a marine theme park, and even a German camping outfit. Schwarzman is the world’s 100th richest man, according to Forbes, with a “real-time net worth” of...

The daughter of a Nigerian politician has been released after her father paid the kidnappers a $15,000 bitcoin ransom. On Saturday, Ai’sha Ardo, the daughter of Umar Ardo, a chieftain of the major Nigerian political party the People’s Democratic Party, endured a harrowing kidnapping in the country’s capital city of Abuja. The chieftain was contacted by one of the kidnappers the next day. The assailant told the politician that his daughter would be returned safely, but only if he paid the...

Almost a year since American businessman William Sean Creighton was kidnapped in Costa Rica, and a $1 million ransom subsequently paid in Bitcoin, he has been confirmed dead. Creighton’s body was found in a cemetery on Costa Rica’s central pacific coast last week, nearly 12 months after the Bitcoin ransom was paid. According to ESPN, the death of the American entrepreneur who founded the 5Dimes sportsbook was confirmed by the officials of Costa Rica’s Judicial Investigation Department on...