Bitcoin Blasts Higher on PayPal News, ETH, BCH, LTC, Oct. 26

Bitcoin Blasts Higher on PayPal News, ETH, BCH, LTC, Oct. 26

BTC BTC Price Index Bitcoin exploded higher last week after an announcement that payments platform PayPal would now accept Bitcoin as a form of payment. The news sent BTC soaring through resistance at $12,000 and $12,500 to test the $13,000 level. In my article last week, I said that Bitcoin was ready to make a move for the $12k resistance. Institutional positions had grown to a record high and low implied volatility in the options…

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The Digital Dollar: Three Stablecoin Developments for October 2020

The Digital Dollar: Three Stablecoin Developments for October 2020

In October, new details came to light about those efforts. These developments provide insight into the current state of “digital dollars” and similar coins. China Hands Out $1.5 Million In Digital Currency Over the weekend of October 10th, the People’s Bank of China ran a lottery that distributed 10 million yuan ($1.5 million) worth of Chinese digital currency to citizens of Shenzen. About 2 million people participated in the lottery, and 50,000 people won the…

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Square Has Purchased Bitcoin: Which Other Companies Hold BTC?

Square Has Purchased Bitcoin: Which Other Companies Hold BTC?

Square, a payments company founded by Twitter CEO Jack Dorsey, invested $50 million in Bitcoin this month. The cryptocurrency investment represents about 1% of Square’s total wealth and is equal to about 4700 BTC, marking one of the largest corporate investments in Bitcoin ever made by a mainstream company. Why Did Square Buy Bitcoin? Square says that it bought BTC because it sees promise in cryptocurrency. The company says that Bitcoin represents “economic empowerment” and…

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Bitcoin Eyes $12,000 as Institutions Add Positions, OKB, BNB, WAVES, Oct. 19

Bitcoin Eyes $12,000 as Institutions Add Positions, OKB, BNB, WAVES, Oct. 19

BTC Bitcoin was trading at $11,500 on Monday as bullish traders eye another push to the $12,000 resistance. The move comes as data shows BTC bets by institutional traders near a record high. The latest release of the Commitment of Traders report from the U.S. Commodity Trading Futures Commission (CTFC) showed a 9% rise in long positions by institutions, which is around the record high of 3,500 set in September. The data highlights the growing…

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Regulation Roundup: SEC Actions For September & October 2020

Regulation Roundup: SEC Actions For September & October 2020

The U.S. Securities and Exchange Commission is one of the most active regulators in the blockchain industry. Over the past several weeks, it has taken action against several crypto companies and startups. At the same time, it has put forward suggestions that could improve opportunities for cooperative companies. These are the SEC’s most notable actions during September and October 2020: John McAfee Sued For ICO Promotion On Oct. 5, the SEC charged crypto celebrity John…

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South Africa’s Economic Woes Force People Into Crypto

South Africa’s Economic Woes Force People Into Crypto

During the first quarter of 2020, the economy plunged deeper into recession. The South African economy was already suffering from a breakdown even before the pandemic hit globally. As seen when the GDP of the country dropped to 2% at the beginning of the year as opposed to the statistics from last year. With a 0.1% drop for the year-on-year basis data. This further spiked when the nation was experiencing power outages, which is still…

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Ripple Moves Higher on New Credit Facility, XMR, REN, ZEC, Oct. 12

Ripple Moves Higher on New Credit Facility, XMR, REN, ZEC, Oct. 12

XRP Ripple’s XRP has found support at the $0.2200 level and is now looking to move back towards the recent highs near $0.3300.  XRP Price Index The move higher in XRP comes as RippleLabs announced the release of a loan facility, five months after it announced the plan. “Line of Credit” is currently in beta version and would provide approved customers with working capital loans in XRP for cross-border payments. The project said, “Those using…

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Can Monero Be Traced? How the U.S. Is Trying to Track the Privacy Coin

Can Monero Be Traced? How the U.S. Is Trying to Track the Privacy Coin

Monero is the most popular privacy coin, offering a way to make crypto transactions truly untraceable. However, new efforts from the U.S. government aim to change that: the Internal Revenue Service (IRS) and Department of Homeland Security (DHS) plan to trace Monero in order to prevent tax evasion and prevent crypto-related crimes. Crypto Tracing In a Nutshell Compared to other cryptocurrencies, Monero is especially private because it obscures virtually all transaction data, including transaction amounts…

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EU and US Making Potential Moves Towards The Standardization Of Crypto Regulations

EU and US Making Potential Moves Towards The Standardization Of Crypto Regulations

Last week, a draft of a new set of regulations leaked in the EU from the European Commission known as MiCA, short for Markets in Crypto Assets, and was distributed throughout the internet. This leaked proposal appeared to provide a clarification about cryptocurrencies in the EU, including stablecoins and security tokens that are in compliance with MiFID, Europe’s Markets in Financial Instruments Directive, which is a trading value, securities market, and investment intermediaries framework.  The…

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Decentralized Finance: Crypto’s Next Big Boom or Bust

Decentralized Finance: Crypto’s Next Big Boom or Bust

Decentralized finance (DeFi) is making headlines and changing paradigms in 2020, and anyone who is interested in cryptocurrencies should be interested in DeFi. While the applications for this emerging technology are still being developed, the potential is staggering. DeFi leverages “trustless” networks, blockchains, cryptocurrencies and smart contracts to bring the world into a new age of financial services. This new world promises to make financial services more open and more accessible to the global community…

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