Tag Archives: Cryptocurrency News

According to the Wall Street Journal, Visa and MasterCard are getting cold feet about helping build payment infrastructure for Facebook’s Libra project. The Wall Street Journal said that a number of financial partners were starting to back away from Libra because of regulatory concerns. This comes on the heels of a September 9 meeting in Switzerland in which financial regulators from across the globe questioned members of Libra. It also follows the skepticism expressed by Congress in July,...

It seems Patrick Harker, the president of the Philadelphia Fed, has finally got the memo, accepting that central bank digital currencies (CBDC) are “inevitable.” Still, that isn’t enough for America to take the lead on them. Harker, although extremely late to the party, made an important caveat on the U.S plans to create a CBDC. According to Reuters, speaking at a community banking conference on Wednesday, the Fed president addressed the unavoidable adoption of CBDCs. “It is inevitable I...

One of the biggest advantages Bitcoin has over the traditional financial networks is the low transaction-fee model. This has been amply demonstrated amidst the ongoing furor in the U.S. over the ‘Ukraine Whistleblower’ as fundraising effort on GoFundMe gets underway. Less than a week since a complaint from an anonymous CIA agent alleged that President Donald Trump had sought foreign help in his 2020 re-election efforts, the GoFundMe page opened to assist in meeting the Whistleblower’s legal...

Bithumb, South Korea’s largest bitcoin exchange alongside UPbit, is trying to convince the government of India to allow cryptocurrency trading. Javier Sim, co-founder and managing director of Bithumb, said that the company is planning to expand into the Indian cryptocurrency market through local partnerships, funding cryptocurrency startups in the region. In remarks reported by Indian business daily The Economic Times, Sim stated: “We are open to talking to regulators, working with them to...

As Facebook continues in the effort to launch its Libra cryptocurrency, the social media giant is likely to rely more heavily on paid lobbyists and the persuasion powers of its senior executives. Mark Zuckerberg prefers closed-door approach In a leaked audiotape of a Facebook town hall released by The Verge, the co-founder and CEO of the tech colossus Mark Zuckerberg took a swipe at public hearings on Libra and instead seemed to favor one-on-one engagements with decision-makers. While...

Bitcoin is down by over 40% from the 2019 high of $13,880. Any other asset plunging by 20% or more would have been in a bear market. But not the king of cryptocurrencies. Bitcoin has retraced by more than 40% in previous bull runs and many market participants are comfortable holding the cryptocurrency. Trader Mayne believes bitcoin will quickly bounce back. | Source: TwitterTo prove our point, we asked experts what are their year-end target for the top cryptocurrency. We were surprised to...

Amid the escalating chaos of the anti-government protests in Hong Kong, bitcoin’s trading volume has hit an all-time high on peer to peer exchange, LocalBitcoins. Residents of Hong Kong are still staggering from what was an exceptionally violent week of protests. The outrage over the now- withdrawn extradition bill has boiled over into issues such as income disparity, and democratic prerogative. Yesterday, the protests reached a fever pitch, as police switched rubber bottles in exchange for...

Facebook’s cryptocurrency Libra has been in hot water ever since the social media giant released the whitepaper earlier this year. Central banks and governments across the globe have put together a concerted effort against Libra, putting Facebook executives in the dock time and again as they fear that the social media giant is out to create a parallel financial system. But the greatest threat that could derail Facebook’s cryptocurrency project probably lies within. The Libra Association, a...

Bayern LB, one of Germany’s top banks, has published a report in strong support of bitcoin superseding gold, predicting a price of $90,000 per BTC post bitcoin’s halving in 2020. Within a report entitled, “Is bitcoin outshining gold?” the bank’s researchers delved into the stock-to-flow ratios of gold and bitcoin, specifically regarding the impact of reduced supply on asset value. The Stock-to-Flow Model A stock-to-flow (SF) ratio is an analytical method commonly used within commodities,...

Block.one – the company behind cryptocurrency EOS – was slapped with a $24 million fine this week, pertaining to its initial coin offering (ICO) back in 2017. That might sound harsh, but it’s a tiny penalty. A drop in the ocean compared to the record-breaking $4.1 billion the company (reportedly) raised in its initial coin offering (ICO). To be specific, it’s just 0.58% of the total amount raised – a slap on the wrist for violating US securities law. It’s an arbitrary and dangerous...