The Bitcoin pullback that started over the weekend has accelerated as we hit mid-week. During yesterday’s US trading session BTC dropped below the highly critical $10,000 level and has failed to reclaim it as we roll into another day’s trading. Bitcoin Drops Below $9,300 Since the weekend BTC has dumped 20 percent as the selloff accelerates. … Continue reading Bears Rejoice as Bitcoin Fails to Reclaim $10k and Targets Lower
For a panel about a proposed cryptocurrency, Tuesday’s Senate Banking Committee hearing was notably light on crypto talk. Bitcoin was barely mentioned during the two-hour session and most of the lawmakers seemed far less concerned with the technology than with who was planning to leverage it: Facebook. Sen. Brian Schatz (D-Hawaii) put it perhaps the … Continue reading Bitcoin Noticeably Absent From Senate Hearing on Facebook’s Libra
Stablecoin issuer Tether accidentally created $5 billion-worth of its USDT stablecoin at the weekend, before promptly destroying them again. The mess-up occurred when the company was helping cryptocurrency exchange Poloniex conduct a chain swap, moving tethers from the Omni to the Tron blockchains, according to Tether CTO Paolo Ardoino. Ardoino explained in a tweet on Saturday: … Continue reading Tether Accidentally Minted $5 Billion of Its Stablecoins, Then Deleted Them
Bitcoin has made a bit of a recovery today in the wake of comments by US Treasury Secretary Steve Mnuchin. The 8 percent pump has left altcoins in the digital dust again as BTC market share knocks on the door of 70 percent. Bitcoin Briefly Back at $11,000 This time yesterday Bitcoin was trading very … Continue reading Bitcoin Dominance Taps 70% in Recovery Rally, Are Altcoins Dead?
Cryptocurrency is so far on the cutting edge that it almost defines it, yet some are finding out the hard way that it’s even sharper than anticipated. The frightening reveal ofnine security bugs through HackerOne internet security platform that had affected Monero (XMR) in recent months — ranging from the insignificant and solved to the malicious and live … Continue reading Monero Reports on Resolving Fake XMR Minting Bugs a Month After Fix
Say hello to the IFO. The cryptocurrency futures exchange CoinFLEX, backed by Polychain Capital and investor Roger Ver, will launch its first initial futures offering (IFO) this week. “This is the first time we’ve made a futures market for a coin that doesn’t actually exist yet,” CoinFLEX CEO Mark Lamb told CoinDesk. “It’s a determiner of … Continue reading Polkadot Tokens Valued at $75 Pre-Launch in Crypto ‘Futures’ Offering
Bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency on July 16 and 17. The price of a single bitcoin, which stood near $13,000 five days ago, fell below $10,000 earlier today and tested the 50-day moving average at $9,900 for the first time since February 18. Facebook’s head … Continue reading Bitcoin’s Price Could Rise If Facebook’s Crypto Survives Congress Hearings
Ouch, Ethereum (ETH) isn’t looking too hot. In the past 24 hours, the cryptocurrency has lost 20%, while Bitcoin (BTC) has shed a relatively mere 10% in the same time frame. According to Three Arrows Capital’s Su Zhu, Monday’s performance was the “top single-day downward move” for Ethereum since January 1st of 2017 — youch. As of … Continue reading Ethereum Falls by 20% as Bitcoin Taps $10,000, Is There Hope for ETH?
Bitcoin (BTC) Lightning Network nodes have claimed 2.2 BTC in “justice transactions” to deter potential thieves, a BitMex Research analysis revealed on July 15. A so-dubbed “justice transaction” is a punitive mechanism involving the closure of a lightning channel that is suspected to be attempting theft. As the report outlines: “… by design, when a thief attempts to steal … Continue reading Bitcoin Lightning Nodes Claimed 2.22 BTC in ‘Justice’ Against Thieves: BitMEX
The U.S. Internal Revenue Service (IRS) may consider subpoenaing major tech companies like Apple, Google and Microsoft in search of taxpayers’ unreported cryptocurrency holdings. That’s according to a slide deck presentation from an IRS cyber training session, which details a number of ways the agency’s criminal investigators might find potential crypto tax cheats. “Issuance of a Grand … Continue reading IRS Confirms It Trained Staff to Find Crypto Wallets