Archive for November 2019
Wall Street Still Doesn’t Get What Bitcoin Might be Used For
Despite being one of the most discussed topics in the last few years, Wall Street still can’t figure out the utility of Bitcoin. Bitcoin Needs Greater Utility, Bakkt CEO Says Adam White, CEO of Bitcoin futures exchange operator Bakkt, said that “there needs to be greater utility” for Bitcoin. Nevertheless, it didn’t stop Bakkt, a…
Read MoreBakkt Boss is the Choice for Vacant Georgia Senate Seat
Endorsed by Gov. Brian Kemp, Kelly Loeffler, CEO of the Bakkt bitcoin futures exchange, will be offered a seat in the Georgia Senate next week. Bakkt Boss Takes Hot, Disputed Spot in Senate Loeffler will displace the previously offered candidate, U.S. Rep. Doug Collins, defying the expectations for appointing the long-serving congressman. Her appointment has…
Read MoreBitcoin Price to ‘Trade Again at $8000 Soon’: Analyst
Bitcoin price has had a very positive week on the back of probably its worst one this year. Since Monday’s dip, BTC has gained 18% to current prices. Chart patterns and the lack of a major capitulation could indicate that the bottom is in and the only way is up from here. Bitcoin Price Closing…
Read MoreNouriel Roubini Joins the Anti-Ethereum Brigade
Nouriel Roubini, “Dr. Doom”, once again lashed out against the perceived lack of value of crypto assets. This time, he selected Ethereum (ETH) specifically. ETH Has No Intrinsic Value, Dr. Roubini Believes Dr. Roubini, known for trashing irrational bubbles, believes ETH would also go down to zero as it has no intrinsic value. Crypto-Apocalypse: Ethereum…
Read MoreOverstock Shareholders Compete to Lead Class Against tZERO’s Parent
E-commerce giant Overstock faces a difficult period as several former and current shareholders fight for the status of lead plaintiff in a class action against the company. Overstock’s tZERO Project Created to Be Used Against Short Sellers The investors filed motions earlier this week in an effort to consolidate the five cases against Overstock and…
Read MoreBitcoin (BTC) Futures Markets Hit $5B Daily Volume
The Bitcoin (BTC) market has evolved to include the simplest kind of derivative financial products – futures contracts. Those markets now reach $5 billion in daily volumes, taking a significant chunk from spot trading markets. Bitcoin Price Discovery Shifts to Futures Markets Bitcoin price discovery mechanisms have shifted in 2019, as the effect of futures…
Read MoreBitmain Lawsuit Heats Up, Plaintiffs Fight Motion to Dismiss
United Corp, a Florida-based cryptocurrency company that sued Bitmain in December 2018, contested the mining giant’s motion to dismiss the case in a US court this week. A cryptocurrency company United American Corp claims that China-based Bitmain should not be dismissed from the United States’ antitrust suit, as the mining gear maker requested. The issue…
Read MoreHow Bitcoin Miners Are Not Causing The BTC Price Plunge
When bitcoin starts to turn south and the selloff intensifies, fingers start pointing. The crypto community wants to blame something and the mainstream media wants to sensationalize fearful headlines to get their clicks. Bitcoin Miners Not to Blame This latest slide has been blamed on China (again) and a miner capitulation but recent research reveals…
Read MoreUS Court Allows IRS to View Bitstamp Customer Information
US federal judge allowed the IRS to demand information about users’ assets from Bitstamp crypto exchange, although the agency was also ordered to reduce the number of requests. The IRS’s involvement with the cryptocurrency industry continues to increase. This, in turn, has irked quite some crypto users. One resident of Washington even sent a request to…
Read MoreRobinhood Crypto Exchange Scraps Plan to Become a Bank
Robinhood has had an about-turn on its plans to become a bank. Commission-free stock and cryptocurrency trading pioneer withdrew its application with the Office of the Comptroller of the Currency yesterday. Robinhood Pulls Bank Charter Application Valued at a staggering $7.6 billion, Robinhood ushered in a new era shaking up the status quo with commission-free…
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