On January 22, 2018, Coinbase, the American cryptocurrency exchange, announced the launch of new trading and custody services for Coinbase Prime and Coinbase Pro which will allow high-volume investors in Asia and Europe to trade virtual currencies, make cross-border payments, and store digital assets in its cold storage. Coinbase Leading the Crypto Revolution On its blog, Coinbase revealed the launch of new features and services for its suite of products such as Coinbase Pro, Coinbase Prime, and Coinbase Custody which can be used by high-volume investors in Asian and European regions. According to the exchange, as from January 22, 2019, Coinbase Prime customers in either continent can use its professional trading platforms to deposit, withdraw, and trade USD for virtual currencies. At the ...
The GTI Global Strength Technical Indicator for Bitcoin is suggesting that Bitcoin’s price could be stabilizing and could even be heading towards a short-term rally, Bloomberg reported on January 22, 2019. Bitcoin’s Price Approaches Oversold Despite the overwhelmingly negative predictions made about the cryptocurrency market, it seems that the new year has some much-needed stabilization to the troubled sector. According to Bloomberg, Bitcoin’s price is slowly stabilizing and could even be heading towards a short-term rally. The report cited the GTI Global Strength Technical Indicator, which showed that Bitcoin is nearing oversold levels – clocking in at 35.6. The numbers are the lowest the cryptocurrency has seen since December, as Bitcoin now appears to be stabilizing at around $3,500. Th
B2C2, a leading cryptocurrency over-the-counter (OTC) liquidity provider for digital assets exchanges and financial institutions, has announced its streaming pricing feature aimed at enabling OTC traders to carry out “point-and-click” trading execution, according to a Business Wire press release on January 21, 2019. OTC Traders’ Orders Executed in Real Time In its bid to eliminate all forms of delays in OTC order execution, B2C2 has launched a new secure web interface to enable its OTC cryptoassets traders to execute trades in real-time on a two-way market. As stated in its press release, the innovative feature makes it easier for OTC cryptocurrency traders to monitor live price movements of blockchain-based virtual currencies and execute orders with the click of a button. For the uninit
The total market cap is flat since January 21, 2019, and stands at $120 billion at time of press. There were no significant price changes for bitcoin and ether within the same time period. BTC/USD Bitcoin closed the January 16 trading session at $3,675 with a little more than a $20 price increase and protected further decline below $3,600. The mentioned level has been a stable support for bulls to hold and they used it to advance even more on January 17, moving to $3,720. Bulls were not able to defend their territory, however, and BTC/USD retreated on January 18 sliding back to $3,675. The U.S. exchange Coinbase has reportedly acquired API data management firm, Blockspring. The San Francisco-based company is providing serverless API data management tools for sales and marketing as well as ...
Swedish Man Linus Dunkers has filed a court case after being charged $885,000 in tax for Cryptocurrency trading. An amount he says is over three times all the profit he made, as per a report from SVT January 20, 2019. A Million Ways to Tax One aspect of cryptocurrency adoption that has caused great frustration is the issue of paying taxes. While some progress has been made in varying parts of the world, in other parts these laws can be confusing at best. In this instance, a man in Sweden is bearing the consequences of such confusion, as he now reportedly owes the tax authority almost $1 million. The person in question is Linus Dunkers, who began trading in cryptocurrency in 2014 and since then, has traded about $2.8 million worth of bitcoin over tens of thousands of trades. Unlike some ci...
Huw van Steenis, the senior advisor to Bank of England (BOE) Governor Mark Carney believes that cryptocurrencies “fail fundamental tests” to compete with the traditional financial market institutions, reports Bloomberg on January 21, 2019. Cryptocurrencies Aren’t a Great Unit of Exchange Cryptocurrency proponents the world over are banking on the technology’s potential to replace the centralized financial institutions in near future. However, it seems that critics of cryptocurrencies are still not sold on the idea of a virtual store of value. The latest individual to voice their disagreement over cryptocurrency is Steenis, senior advisor to the BOE Governor Mark Carney. Speaking in a Bloomberg Television interview, Steenis shared his thoughts on the future of finance. He praised the work b
Dutch international bank ING has signed a deal with enterprise blockchain consortium R3 for access to R3’s commercial blockchain platform, according to a press release published Jan. 22.As a part of the five-year agreement, ING Bank is set to acquire an unlimited number of licenses for R3’s Corda Enterprise platform. The banking giant plants to implement Corda’s decentralized applications (CorDapps) across its global business infrastructure.Based on the R3’s commercial platform, CorDapps provide a number of financial services applicable in banking activity, including trade finance, identity, insurance and capital markets.In turn, by applying R3’s CorDapps, ING will purportedly contribute to the wider adoption of the consortium’s Corda Enterprise platform.R3’s CEO David E. Rutter noted that
Securitize, a compliance platform that handles the issuance and lifecycle management of digitized securities on the blockchain has joined the IBM blockchain technology accelerator program in a bid to revolutionize the $82 trillion corporate debt industry, reported Forbes on January 21, 2019. Ten Firms Join IBM Blockchain Accelerator Program Per sources close to the matter, ten startups have joined the IBM blockchain technology accelerator program which the firm says is aimed at providing distributed ledger technology (DLT) powered startups with the critical resources needed to create their blockchain networks. Commenting on the development, the CEO of Securitize, Carlos Domingo, noted that the innovative program would equip Securitize with the essential tools it needs to “modernize the $8
Crypto Garage, a subsidiary of the Japanese IT company Digital Garage, Inc, announced on January 21, 2019, that it would test issuance of JPY stablecoins on their SETTLENET platform. The Stablecoin Euphoria Expands to Japan The blockchain fintech company will pilot a delivery versus payment settlement service between JPY tokens and digital assets in a project fully authorized under the regulatory sandbox in Japan. The news was initially reported by the Japanese Financial Services Agency (FSA) on January 18, 2019, when it granted the firm entry into the working group. Thanks to the received green light, the blockchain development firm will partner with local exchanges and utilize the Blockstream’s Liquid Sidechain network to execute transactions and create a new type of trading environment
On January 21, 2019, the Swiss blockchain wallet Tangem raised funding of $ 15 million from SBI Crypto Investment. This is intended to be used for the industrial adoption of blockchain-enabled smart cards. Tangem, the “Smart Banknotes” Startup The blockchain smart card wallet provider Tangem is well-known for its smart banknotes that are inbuilt with a chip that holds bitcoin or other cryptocurrencies. Currently, it is the only mass-produced hardware carrier for digital assets. In May 2018, Tangem had launched pilot sales of physical Bitcoin (BTC) notes available in denominations of 0.01 and 0.05 BTC. This was aimed to significantly improve the security of owning and circulating cryptocurrencies, as well as make the whole process easier. Tuesday in Hong Kong we’ll take a sober look at ha