Court proceedings against defunct Canadian Bitcoin exchange QuadrigaCX will focus on people in Ontario, say liquidators. EY: ‘Few Ties’ Keep Bitcoin Case In Nova Scotia In a court document filed this week, Ernst & Young (EY), the accounting giant acting as the exchange’s bankruptcy trustee, petitioned for a relocation of their case. Currently taking place in Halifax, Nova Scotia, the saga should shift to Toronto, says EY, as the subjects of interest reside specifically in Ontario. “As the majority of the professionals are located in Ontario, there would be significant…
Read MoreMonth: August 2019
Bakkt Gains Favor Ahead Of Launch As Bitcoin Users Say Hype Justified
Cryptocurrency figures are putting renewed faith in Bakkt to lift markets after the company announced it was ready to launch Bitcoin storage. Bakkt: Bitcoin Storage Starts Next Week Bakkt, a cryptocurrency ecosystem for institutional investors, is currently testing its first product, physical Bitcoin futures. The main launch will begin next month. As of September 6, the company confirmed on social media this week, clients will be able to deposit their coins. “On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of…
Read MoreHow Market Makers Inject Liquidity Into the Cryptoconomy
Market makers have a reputation that is entirely disproportionate to what they do. Despite what half of crypto Twitter would have you believe, MMs, as they are colloquially known, are a neutral force when used correctly. But should tokenized projects be routinely deploying these tools on crypto exchanges, and what are the long-term ramifications of manufacturing buy and sell orders? Also read: ERC20 Tether Transactions Flip Their Omni Equivalent From Drip-Fed to Full Faucet: Running the Liquidity Spectrum Liquidity is all relative. While bitcoin’s liquidity trumps the rest of the…
Read MoreChina’s State-Backed Cryptocurrency: ‘Gaining Momentum’ Or ‘Inaccurate Speculation’?
China’s Government and Central Bank just can’t seem to align on the proposed central bank digital currency (CBDC). On Tuesday, government-supported tabloid, Global Times, reported that the Central Bank called speculation on an upcoming launch ‘inaccurate speculation’. Then yesterday, it published an article suggesting that plans are gaining momentum, with a pilot-scheme in Shenzhen imminent. “Inaccurate Speculation” – China Central Bank Media reports regarding China’s experiments with a CBDC have been increasing over the last month. The suggestion has been that the state-backed digital currency is almost ready to roll…
Read MoreBitcoin Approaches Critical Support Level After 9% Slide
As predicted, a big movement came for bitcoin following a week of consolidation. Analysts have been mixed all week but those that leaned towards bearish were right as the king of crypto plunged back into four figures a few hours ago. Bitcoin Nearing New Low A huge red candle resulted in a dump of over 9% for BTC a few hours ago. The pennant that was identified by analysts yesterday reached its conclusion and what appeared to be an upside breakout actually turned into a massive slide. From an intraday…
Read MorePR: Bitcoin.com Partners with Resistance – the Next Gen DEX
August 29th, 2019 – Last week, the Resistance team met with Bitcoin.com CEO Stefan Rust, and other members of the Bitcoin.com organization, to discuss the terms of a partnership. The meeting was a great success and a strategic partnership agreement was drawn up and signed the same day. The exact details of the agreement are yet to be announced, but this important development will help to make the Resistance decentralized exchange and privacy coin accessible to the masses through Bitcoin.com’s significant presence in the blockchain space. “Joining forces with a…
Read MoreBitcoin Fees Today Over 88% Less Than December 2017
Bitcoin Fees in December 2017 were almost always above $10, sometimes reaching nearly $30. Today we are nearly at the same price and fees have dropped considerably; less than a dollar in most cases. But has Bitcoin actually scaled, or is it just a case of fewer transactions happening on the network? Fees are only part of the story The Bitcoin network has had a few issues with fees over the last few years. Because of Bitcoin’s limited blocksize, a large number of users trying to all send transactions at…
Read MoreCrypto Can Boost Indian Economy – How Banning Will Hurt it
The Indian economy is experiencing severe economic slowdown not seen in many years, and cryptocurrency can potentially help. However, the government is considering a draft bill to ban cryptocurrencies, which could have undesirable consequences on the economy. Meanwhile, the Indian crypto community has already been enduring a banking ban by the central bank. Also read: Indian Supreme Court Orders RBI to Answer Crypto Exchanges, New Date Set Job Growth Amid ‘Unprecedented’ Economic Slowdown Rajiv Kumar, the vice-chairman of Indian policy think tank Niti Aayog, said last week that the Indian…
Read MoreCrypto Salaries Gain Regulatory Recognition Around the World
Salaries paid in decentralized digital coins have become a norm across the crypto industry, but there’s really no reason why cryptocurrencies can’t be used for remuneration by businesses in other sectors as well. In many jurisdictions that should be legal even in the absence of dedicated legislation. Switzerland, New Zealand, Japan and Estonia are a few examples. Companies and employees in these countries take advantage of the benefits that come with crypto payments. Also read: Initiative to Curtail Negative Interest Rates Gains Traction in Germany Temptation to Tax Crypto Income…
Read MoreOne Could Win $1 Million By Finding 100 ‘Critical’ Bugs in Libra
Facebook is offering thousands of dollars as a reward for those testers who find bugs in its upcoming Libra cryptocurrency. Libra Invites Your Security and Privacy Review of its Architecture and Design Facebook envisages empowering billions of people all over the world through its single global ‘cryptocurrency’, Libra. It will be supported by a simple financial infrastructure. The social media giant plans to release the digital asset in 2020. But before its release, its engineers and developers want to ensure that the cryptocurrency will run on a secure, scalable, and…
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