Tuesday, January 19

Tag: digital currency

Huobi Global Connects to European Banking System via UK’s BCB Group
Crypto News

Huobi Global Connects to European Banking System via UK’s BCB Group

Directed crypto installment benefits firm BCB Group has collaborated with Huobi Global to help the Seychelles-based trade goliath interface its exchanging work areas to the financial framework the U.K. also, Europe.Reported Tuesday, clients of Huobi's over-the-counter (OTC) stage will have the option to settle exchanges right away in euros and pounds (GBP) through BCB's BLINC organization.Cryptographic money trades have battled as of late to make sure about financial connections and set up an interface with the fiat cash world, for certain enormous trades having huge day by day volume in shut frameworks of crypto-to-crypto exchanging. Before banding together with BCB, Huobi didn't have an European fiat door, said Oliver von Landsberg-Sadie, organizer and CEO of BCB Group."We're h...
Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play
Crypto News

Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play

U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank.When asked about timing, the Goldman source said the bank’s custody plans would be “evident soon.”Goldman’s digital asset custody RFI was circulated to at least one well-known crypto custody player toward the end 2020.“Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named. (An RFI on crypto custody was issued by JPMorgan in October 2020, as reported by The Block.)The Goldman insider said the bank’s digital assets initiative was “part of a broad digital strategy,” citing stablecoi...
Biden’s $1.9T Plan Shows ‘Blue Wave’ Bitcoiners Saw Coming
Crypto News

Biden’s $1.9T Plan Shows ‘Blue Wave’ Bitcoiners Saw Coming

(EDITOR’S NOTE: First Mover will not publish Monday, Jan. 18, in honor of Martin Luther King Jr. Day in the U.S., a CoinDesk company holiday. The cryptocurrency market will be open, as it always is.)Bitcoin (BTC) was lower, trading around the $38,000 level where prices have gravitated for the past week.The market faces price resistance around $41,000, with support seen around $34,000, Mark Warner, head of trading for London-based BCB Group, a financial firm focused on digital assets, said in comments emailed by a spokeswoman.“A move above $42,000 will likely see a resumption of the heady gains we saw last week,” Warner said. Prices are up 29% so far in 2021, versus a 0.4% year-to-date loss for the Standard & Poor’s 500 Index of large U.S. stocks.In traditional mark...
EU Parliament Receives Petition Seeking to Establish Crypto Crime Victims’ Fund
Crypto News

EU Parliament Receives Petition Seeking to Establish Crypto Crime Victims’ Fund

A petition to the European Parliament hopes to persuade the bloc to provide financial support to victims of cryptocurrency crime.The petition, filed Wednesday by lawyer Jonathan Levy, seeks the implementation of a “regulatory scheme to compensate victims” who were fleeced of digital assets by fraud, hacks and extortion. To date, 44 supporters have signed the petition.Levy wants the EU to implement a .0001 cent per euro fee on cryptocurrency transactions that would be pooled into a “victim superfund,” according to a press release sent to CoinDesk.The lawyer represents clients who have suffered losses exceeding €50 million (US$60.7 million) and is joined by class representatives for the 240,000 account holders caught up in the alleged exit scam by Irish cryptocurrency excha...
Lido Protocol Does Eth 2.0 Staking but With a DeFi Twist
Crypto News

Lido Protocol Does Eth 2.0 Staking but With a DeFi Twist

There’s a decentralized autonomous organization (DAO) that lets ETH holders back Ethereum 2.0 without losing liquidity, and it wants to give its participants a vote.Until Feb. 12, ETH holders have a chance to earn some of the governance token for Lido, a new decentralized finance (DeFi) and staking protocol. There will be other opportunities in the future, but it’s up to LDO holders to decide when.Since Tuesday, the amount of ETH staked on Lido has more than doubled, breaking 60,000 ETH as of this writing.Lido sits at Ethereum’s sweet spot, putting the road to Eth 2.0 into DeFi. It gives people a fresh way to contribute ETH to staking on Ethereum’s new beacon chain but still unlock the value of their ETH. It’s one of those stories that somewhat strains credulity, very muc...
Forget Facebook’s Stablecoin. Now It’s $700B Bitcoin in the Crosshairs
Crypto News

Forget Facebook’s Stablecoin. Now It’s $700B Bitcoin in the Crosshairs

Bitcoin (BTC) was higher, pushing back toward $40,000 after a 9.9% surge on Wednesday, the biggest calendar-day gain in a month.Such a powerful recovery after a steep sell-off earlier in the week has quickly reinvigorated trader spirits. “This bubble doesn’t look set to burst,” said Don Guo, CEO of Broctagon Fintech Group, which helps smaller cryptocurrency exchanges tap into bigger pools of liquidity available from large exchanges.In traditional markets, U.S. government bond yields rose along with stocks after CNN reported that President-elect Joe Biden will unveil on Thursday a new coronavirus relief proposal, and that his advisers have told allies in Congress to expect a price tag around $2 trillion. Gold weakened 0.2% to $1,841 an ounce.Market movesBefore the coronavi...
Largest Dark Web Market Taken Offline as Alleged Operator Arrested in Germany
Crypto News

Largest Dark Web Market Taken Offline as Alleged Operator Arrested in Germany

A 34-year-old Australian man accused of running the world’s largest dark web marketplace has been arrested by German authorities close to the Danish border.According to a report from Europol on Wednesday, the DarkMarket site was taken offline on Monday following a probe by German investigators with the assistance of Europol and seven other nations.The illegal site had processed more than 320,000 transactions, had close to 500,000 users and over 2,400 vendors. More than 140 million euros (around US$170 million) in bitcoin and monero had changed hands on the site.Various drugs, forged or stolen credit cards, anonymous SIM cards and malware made up some of the goods for sale on the site.As part of the operation, more than 20 servers in Moldova and Ukraine have been seiz...
Ethereum-Based Nexus Mutual Expands Its Decentralized ‘Insurance’ to Centralized Exchanges
Crypto News

Ethereum-Based Nexus Mutual Expands Its Decentralized ‘Insurance’ to Centralized Exchanges

Nexus Mutual, a startup that provides a decentralized alternative to insurance, is extending its community-based offering to cover users of well-established cryptocurrency exchanges such as Coinbase, Binance, Kraken and Gemini.Until now Nexus, which uses digital tokens to revamp the traditional idea of mutual cover, was only focused on the world of decentralized exchange (DEXs), specifically catering to the explosion of decentralized finance (DeFi), which is susceptible to hacks and losses.However, centralized exchanges also get hacked on a semi-regular basis, and traditional insurance cover within the crypto industry remains thin on the ground and prohibitively expensive. Indeed, for many large exchanges, the balance sheet is basically the insurance fund, as Kraken CEO Jesse ...
Pirated Academic Database Sci-Hub Is Now on the ‘Uncensorable Web’
Crypto News

Pirated Academic Database Sci-Hub Is Now on the ‘Uncensorable Web’

After her website faced repeated domain name revocations, Sci-Hub founder Alexandra Elbakyan has registered her website on the distributed domain names network Handshake.The pirated database of academic papers is now accessible directly through the service’s portals as well as through NextDNS, a privacy-focused, cloud-based domain name service resolver which converts IP addresses into domain names.“The DNS is like a phonebook for the internet. The addresses in the phonebook are the server IP addresses. DNS was created to give IP addresses human-readable names so with our platform, you’re finding the IP address through Handshake, not through a certificate authority,” Namebase CEO Tieshun Roquerre told CoinDesk.For a website that has had various domain names revoked over th...
Bitcoin’s Big Drop Again Coincides With Dollar Bounce in Forex Markets
Crypto News

Bitcoin’s Big Drop Again Coincides With Dollar Bounce in Forex Markets

Bitcoin continues to trade in the opposite direction to the Dollar Index in a reflection of the cryptocurrency’s maturation as a macro asset like gold.The top cryptocurrency by market value slumped to $32,400 early on Monday, having set record highs above $41,800 on Friday.The crash came alongside a bounce in the Dollar Index (DXY), which tracks the greenback’s value against major currencies. The DXY has jumped to two-week highs near 90.50, extending a two-day winning streak. The index reached a 33-month low of 89.21 on Jan. 6, according to TradingView.Since the major markets crash in March, bitcoin and the index have trended in opposite directions, with bitcoin witnessing consolidation or correction during DXY’s temporary recovery rallies.“Bitcoin’s value increased ...