Tag Archives: Cryptocurrency News

China’s internet and communications giant Tencent has recently raised concerns that if Facebook succeeds in its Libra launch by 2020, local Chinese payment service providers like WeChat pay and Alipay would face major threats in global markets.Tencent recently published a blockchain whitepaper in Chinese, wherein it calls Facebook’s Libra initiative as “bold and radical” as well as “prudent and rational”. The Chinese tech giant explains how Libra can quickly make inroads in markets where the...

Ever since Facebook officially announced its plans to float a digital currency and then released the Libra whitepaper, there have been very polar reactions to the idea, which continue to this day. The United States Congress right from the start has made it clear that they are not excited about the idea and would prefer it doesn’t continue. We have already reported that as part of the process of seeking regulatory support, Facebook CEO Mark Zuckerberg has been obliged to support his position...

The bitcoin price has plunged by nearly 10%  on Wednesday to fall near a 5-month low. After flirting with a move to the upside above $8,000, the leading cryptocurrency dropped sharply below to just under $7,500. Bitcoin price chart | Source: TradingViewOther major-cap cryptocurrencies also followed Bitcoin’s spiraling crash by falling between 4% and 9% in value. The most adversely affected were the Bitcoin variants – BCH and BSV. Bitcoin trading near the ~$7,500 figure marks a low...

Since 2010, bitcoin has died 377 times at the hands of experts and popular media outlets. At the height of the bear market in 2018, bitcoin was declared dead a total of 90 times. Peter Schiff is just another personality to recently call the death of bitcoin. | Source: TwitterWe are hurtling towards the end of 2019 and bitcoin is doing so well that it managed to carve a niche in today’s financial system. We talked to crypto traders, blockchain executives and researchers and they all...

Australian authorities have become unwitting benefactors of Bitcoin’s impressive bull run in recent years. The Australia Federal Police’s latest Annual Report highlights a bust which netted them a cool 2000% profit. In it, the Feds reveals seized bitcoin worth approximately A$ 7,300 ($ 4,995) in 2016  from a man using the cryptocurrency to purchase three weapons in contravention of the 1901 Customs Act. The Australian Federal Police (AFP) posted this image of the paper wallet seized...

Photo: ShutterstockPer a recent announcement, blockchain and cryptography data and research company Brave New Coin (BNC) has said that its cryptocurrency indices will now be applied by crypto trading service INX, as it prepares to launch its first fully approved security token sale. INX is focused on making sure that its offerings and practices are strict and as transparent as possible, a decision that has pointed the digital asset trading service in the BNC direction.According to BNC, INX...

Mark Zuckerberg will appear before Congress on Wednesday to defend Facebook’s controversial ‘cryptocurrency’ project, Libra. In his prepared remarks, the Facebook CEO will tell lawmakers that America risks losing “financial leadership” to China if they don’t get behind his company’s plan. Referring to China’s proposed digital currency, which is expected to launch before the end of the year, Zuckerberg will argue: “While we debate these issues, the rest of the world isn’t waiting....

In an effort to ensure that Facebook’s Libra cryptocurrency breaks down regulatory walls and launches on time or at least not too far from the earlier planned launch date, the social media giant is willing to make some compromises.In a testimony recently submitted to the House Financial Service Committee, Facebook CEO Mark Zuckerberg has confirmed to U.S. lawmakers that Facebook itself will not handle Libra, suggesting that the Libra Association which is the body tasked with the role of...

Facebook‘s head of the Libra project – David Marcus – has recently given an indirect warning to the U.S. lawmakers of losing the digital currency war to China, if the company’s Libra Project fails.Since its Libra cryptocurrency announcement in June 2019, Facebook has been in odds with the regulators over the Libra launch. The regulators have repeatedly questioned Facebook’s ability to execute this project at a global level.However, David Marcus has warned Washington that if Libra is derailed,...

Recently, Ripple announced a new office in Washington, D.C. which will be lead by Michelle Bond. As they describe the new premises, they chose this location deliberately in order to be closer to the White House and the U.S. government, in general. They want to educate the policymakers on the massive benefits that cryptocurrencies and blockchain offers to the world of finance and technology. Ripple has previously set a plan for a global expansion in order to “spread the word” about their new...