Dave Ramsden, deputy governor of the United Kingdom’s central bank, has said that crypto assets are too volatile to be a store of value. Ramsden made his comments in an interview with CNBC published on April 30. Bank of England (BOE) deputy governor Ramsden noted that over a year ago, the U.K.’s Financial Policy Committee (FPC) had concluded that cryptocurrencies’ volatility meant that they could not be a store of value. Furthermore, the FPC also came to the conclusion that Read more …
Hackers who breached Microsoft Outlook have reportedly used the email service to steal cryptocurrency users’ funds. Motherboard reported Tuesday that hackers had managed to gain access to Microsoft customer support employee’s accounts in recent weeks, after which they were able to access non-corporate email accounts, including in Hotmail and MSN. Microsoft confirmed the breach to TechCrunch. Since the attack, “multiple victims” have reported having cryptocurrencies stolen, Motherboard said. One victim, named Jevon Ritmeester, posted on the Tweakers forum that his Kraken cryptocurrency Read more …
Bakkt is taking what it hopes will be another significant step toward obtaining regulatory approval as its parent company – Intercontinental Exchange (ICE), acquires Bitcoin custody platform. ICE also plans to register the company as a licensed trust in New York State. ICE Acquires Bitcoin Custody Platform Bakkt announced the news in a Medium post by company Chief Operating Officer (COO) Adam White. According to the announcement, ICE has completed the acquisition of Digital Asset Custody Company (DACC). The move Read more …
By CCN.com: Binance CEO Changpeng Zhao boldly claims that cryptocurrency will reach more users than the internet in a matter of years. His wildly bullish prediction suggests that over 4 billion people on the planet will use crypto in the near future. In a few years, there will be more users in #crypto than there are users for internet today. — CZ Binance (@cz_binance) April 30, 2019 Crypto: bigger than the internet Current estimates suggest that 58 percent of the Read more …
By CCN.com: The Dow and broader U.S. stock market finished mostly higher on Tuesday, as investors sifted through weaker than expected Chinese manufacturing data that seemed to show a loss of momentum at the start of the second quarter for the world’s second-largest economy. Dow Pushes North; Nasdaq Plunges The Dow Jones Industrial Average opened 40 points higher on Tuesday and would go on to trade within a nearly 200-point rage. It would eventually settle up 38.52 points, or 0.2%, Read more …
By CCN.com: The Dow and broader U.S. stock market traded lower on Tuesday, as investors sifted through weaker than expected Chinese manufacturing data that seemed to show a loss of momentum at the start of the second quarter for the world’s second-largest economy. Dow Flat; S&P 500, Nasdaq Hold Near Record Levels The Dow Jones Industrial Average opened 40 points higher on Tuesday but has since reversed gains to post a minor loss. At the time of writing, the blue-chip Read more …
Bitcoin price has been trading in a tight $147 range so far this week, which has been the case now for around 5 days, while the market attempts to digest the information around Bitfinex and Tether. As we close out the month, we take a look at the BTC/USD charts and what may lie ahead. Bitcoin Price: 1-Month Chart Looking at the monthly chart, Bitcoin price 00 has had a tremendous month, kicking off in the early hours of the Read more …
The Candian province of Quebec is attempting to woo bitcoin miners by providing cheap energy. The region’s energy regulator, Régie de l’énergie, has set aside an additional 300 megawatts of electricity, specifically for cryptocurrency mining. This is on top of the existing 368-megawatt provision. Quebec Offers Cheap, Environmentally Friendly Hydro-Electricity For Bitcoin Miners Following regulatory uncertainty over crypto mining in China, mass mining operations are in the process of eyeing alternative locations. And given Quebec’s abundance of cheap, green hydroelectric Read more …
Blockchain-powered precious metals platform Tradewind has appointed an ex-JPMorgan Chase executive as its new CEO, the company confirmed in a press release on April 30. Michael Albanese, who previously worked as the bank’s Global Head of Agency Collateral Management and Global Head of Securities Clearance, will take over Tradewind’s operations immediately. Those currently include the management of the company’s flagship metals market, which employs blockchain to streamline custody, trade and security of precious metals. “Michael is a leader with significant Read more …
Taiwanese consumer electronics firm HTC is doubling down on its mission to offer blockchain features to its cellphone customers. HTC decentralized chief officer Phil Chen said at a recent event in Taipei that the company is preparing to release a second generation of its blockchain phone, the EXODUS, by the year’s end, Taiwan News reported Sunday. The HTC EXODUS 1 was officially released last October, after being first announced during CoinDesk’s Consensus 2018 event last May. The phone includes a cryptocurrency Read more …
Elon Musk is getting deeper and deeper down the cryptocurrency habit hole. After yesterday’s mysterious tweet which read simply “Ethereum,” the Tesla chief then asked Ethereum founder Vitalik Buterin for suggestions on what to develop on the blockchain platform. What should be developed on Ethereum? — Elon Musk (@elonmusk) April 30, 2019 Buterin responded with a list of 13 real-world use cases for cryptocurrency and blockchain technology. The list included everything from payments to insurance to new governance systems. Here’s Read more …
Many in the crypto industry have strong faith in Ravencoin (RVN), believing it to be an asset with a very bright future ahead of it. The project is a P2P blockchain, designed for asset transferring between different parties. As such, it started seeing massive growth in price in recent months, ever since the crypto market started showing signs that the crypto winter is truly over. Ravencoin sees massive growth in 2019 The growth of RVN price started in the final Read more …