Tag: Cryptocurrency News

Abra CEO Explains Why It’s Bitcoin’s Time to Shine
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Abra CEO Explains Why It’s Bitcoin’s Time to Shine

The U.S. government's attempts to fix the current economic situation could ultimately lead to greater Bitcoin (BTC) adoption, according to Bill Barhydt, CEO of crypto wallet and exchange solution, Abra.  "I think that this is a pivotal moment for Bitcoin as a new asset class," Barhydt told Morgan Creek Digital co-founder Anthony Pompliano during an Aug. 13 podcast interview. Barhydt noted the U.S. government's goals for intentional inflation as rationale for his thesis.  As part of the rationale for his claims, Barhdyt mentioned rumors of the U.S. government's upcoming goal of 4% inflation — unheard of territory when it comes to intentional inflation, according to the CEO. "They feel they have no choice except to basically reflate the economy in order to create growth," ...
Ireland Will Transpose Latest EU Anti-Money Laundering Rules Into National Law
Crypto News

Ireland Will Transpose Latest EU Anti-Money Laundering Rules Into National Law

Cryptocurrency firms in Ireland will soon be regulated in line with the latest European legal framework for the prevention of money laundering and terrorism financing. On Aug. 10, the Cabinet of Ireland approved a bill to transpose the criminal justice elements of the European Union’s Fifth Anti-Money Laundering Directive (AMLD5) into national law, thereby strengthening existing legislation.  Approval from the Cabinet gives Ireland’s Minister for Justice and Equality, Helen McEntee, the go-ahead to publish the new bill, entitled The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020.  Among other provisions, the bill brings virtual currency providers and online wallet providers for digital currencies under existing AML and counter terrorist finan...
What’s Behind the Meteoric Rise of Chainlink?
Crypto News

What’s Behind the Meteoric Rise of Chainlink?

Chainlink (LINK) has experienced a meteoric rise this year, becoming a top five crypto asset by market capitalization. We took a look at the data from the decentralized finance space (DeFi) as well as Google to help explain this phenomenon. The battle for number five 2020 edition. Source: CoinMarketCap. The battle for the number five spot in 2020 has been waged between Bitcoin Cash (BCH), Bitcoin SV (BSV), Litecoin (LTC), Cardano (ADA) and LINK. The latter entered the year well behind the other competitors. However, LINK kept on rising throughout the year, finally, climbing to the fifth spot as of the time of this writing.  Chainlink has been making partnership and integration announcements nonstop throughout the year. However, its path was not without adversity. There was a dubi...
Three Reasons Why NFT Market Is Bound to Rise and Shine
Crypto News

Three Reasons Why NFT Market Is Bound to Rise and Shine

In early July 2020, the total sales of nonfungible tokens, or NFT, hit $100 million. And that is just the start. As the DeFi market reached $4 billion in locked value and leading cryptocurrencies started their rally to yearly highs, we might soon see a hockey-stick growth pattern in the NFT space. Let’s have a look at why it might be the case. Where do NFTs come from? It’s no secret that the best thing a project can do during a crypto winter is to build — and that’s exactly what the most popular NFT projects of today have been doing during the past two years. Decentraland, which raised over $20 million in 2017, successfully launched this year. It was overtaken in volume by single-developer project Cryptovoxels that finances itself by selling parcels of digital land. Meanwhile, VC-backe...
NEAR Token Sale Postponed After CoinList Is Overwhelmed by Demand
Crypto News

NEAR Token Sale Postponed After CoinList Is Overwhelmed by Demand

The highly anticipated tokensale for decentralized application (DApp) platform NEAR Protocol was postponed by 24 hours after CoinList — the exchange hosting the offering — went down around the scheduled launch time. Originally scheduled for 10 am ET on Aug. 11, the tokensale was postponed by 24 hours after CoinList was deluged by expectant traders. Its Twitter account received a flood of complaints from trader’s who had planned on participating in the offering. Disgruntled buyers compared the debacle to similar outages experienced during the platform’s first token sales conducted during 2017. However, despite large numbers complaining they were unable to access the platform, screenshots posted on WeChat suggest that some participants successfully invested in NEAR.  The token sale...
Tezos XTZ Follows Chainlink to Hit New High — But Is $6 Now Realistic?
Crypto News

Tezos XTZ Follows Chainlink to Hit New High — But Is $6 Now Realistic?

As Chainlink (LINK) reaches a new all-time high after all-time high, it would be expected to see a similar move on Tezos (XTZ). This is because these two coins have been moving in tandem in recent years and have been one of the few resilient digital tokens despite the cryptocurrency bear market during the period. Crypto market daily performance. Source: Coin360 Tezos did indeed show strength as XTZ rallied from $2.95 to as high as $4.50 in the previous four days, resulting in a rally of more than 50%. But is an even bigger rally in the making for Tezos? Let’s check out the charts. Tezos breaks clear resistance at $3.25 and rallies to $4.45 As the chart is showing, the price of Tezos broke the resistance zone at $3.25 and started to show impressive strength. XTZ price rallied from $3....
Australian Hacker Sentenced to 2 Years in Prison for $300K XRP Theft
Crypto News

Australian Hacker Sentenced to 2 Years in Prison for $300K XRP Theft

A judge has sentenced Australian citizen Kathryn Nguyen to a maximum time of 2 years and 3 months in prison for her role in stealing more than 100,000 XRP tokens in January 2018. According to an Aug. 11 report in Australian publication Information Age, Nguyen was sentenced over the theft of more than $300,000 in XRP two years ago. She was initially charged in Oct. 2018 and pled guilty to fraud charges the following August. Chris Craigie, the judge presiding over Nguyen’s case, said it was a “difficult and troubling decision” to send her to prison. The Australian national will reportedly be eligible for parole in October 2021. First Australian crypto fraud case Nguyen was one of the first people to be charged with the theft of crypto assets in Australia. In January 2018, she reported...
Mobile Crypto Scam Targets Wealthy Indian Investors
Crypto News

Mobile Crypto Scam Targets Wealthy Indian Investors

A new cryptocurrency scam in India is targeting wealthy individuals using a fake mobile app. According to India TV News, cybercriminals are targeting high income individuals across India. Victims receive messages through social media groups asking them to sell and buy Bitcoin through a mobile app. This app, which supposedly acts as a crypto exchange, is actually entirely fraudulent. Once a user’s Bitcoin is deposited on the fake exchange, the scammers stop responding to queries from the victim and disappear. Manan Shah, founder and CEO of Avalance Global Solutions, said that an unidentified man lost over $50,000 while dealing with one of the fake platforms. One of the most significant cases involved another unnamed Indian businessman who was scammed out of the USD equivalent of $3 mil...
Canadian Weatherman Frankie MacDonald Is Bullish on Bitcoin
Crypto News

Canadian Weatherman Frankie MacDonald Is Bullish on Bitcoin

Frankie MacDonald, an amateur meteorologist based in Nova Scotia, has recently been using his platform to talk up Bitcoin in his charismatic voice. In a series of tweets beginning Aug. 8, MacDonald posted videos stating his views on the cryptocurrency to his 118,500 followers. The Canadian weatherman said that Bitcoin (BTC) is “worth more than American dollars,” taking viewers through the numbers if they owned anywhere from 1 BTC — $12,007 as of press time — to 10 million BTC, or over $160 billion at the time. New Bitcoin meme is born The 36-year-old YouTuber began making videos on the platform in 2009, which focused on meteorology in Canada and the United States. MacDonald gained momentum online, standing out with his unique style of forecasts.  After seeing a video of MacDonal...
BAND Token is Now Available for Trading on Huobi Global
Crypto News

BAND Token is Now Available for Trading on Huobi Global

Band Protocol, the cross-chain data oracle platform, said that its token BAND has been listed on Huobi Global exchange. The company clarified in a press release on its blog that trading on BAND token will start on August 10. Huobi will support BAND/U.S. dollar, BAND/BTC and BAND/ETH trading pairs.  Regarding deposits, the company stated that they will be available from August 9 and for withdrawals, they will be available from August 10. The company noted that at present, withdrawals and deposits will be limited only to BAND-mainnet coins and that the time for opening and withdrawing BAND-ERC20 coins will be notified later with another announcement. It is worth noting that BAND token listing on Coinbase Pro was announced on August 5th, with transfers to begin on August 10. Accept...