Category: Cryptocurrency News

Major bank HSBC has announced the successful enactment of a letter of credit (LC) on a blockchain in Malaysia. The transaction English language local fintech news outlet Fintech News Malaysia reported the development on Oct. 14, noting that the transaction involved packaging firm Simply Packaging importing resin from an unspecified Singaporean chemicals company. The issuing bank was HSBC Malaysia and the nominated bank was HSBC Singapore. Per the report, this is the eleventh blockchain-powered transaction carried out by HSBC and Read more …

Telegram, the most popular messenger in the crypto community, is facing challenges surrounding the launch of its TON blockchain. Following an intervention by the U.S. securities regulator, a court hearing on the sale of the native gram tokens is scheduled to take place a week before the network was expected to go live. Also read: More Nations Join the Club of Crypto-Friendly Jurisdictions NY Court to Review SEC Complaint Against TON The United States Securities and Exchange Commission (SEC) announced Read more …

The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology. Reduce trade costs by more than 90% On Oct. 14, South Korean Finance Minister Hong Nam-ki introduced the country’s Development Plan for Digital Trade. Under the plan, technologies such as blockchain, big data and AI, will be applied to digitize the entire Korean trade finance ecosystem by the year 2021. Finance Minister Hong Nam-ki reportedly said: “We will Read more …

As the 2019 parabolic rally came to a close, Bitcoin began to trade within a large, multi-month descending triangle pattern that only just recently broke down after extensive consolidation. According to a popular crypto analyst, the breakdown resulted in Bitcoin forming a bear flag, and it likely signals further continuation to the downside, potentially as low as the price Bitcoin reached back in February 2018 when the crypto bear market first got underway. Further Bitcoin Breakdown Puts Asset At Risk Read more …

Digital asset management giant Grayscale registered over $254 million in total investment into its products in the third quarter of 2019. In its Digital Asset Investment Report for Q3 2019, Grayscale provided details on the inflows into its products for the period from July 1, 2019 through Sept. 30, 2019. The third quarter of the year marked the highest demand for the company’s offerings since its establishment, resulting in $254.9 million of inflows. The figure shows a threefold quarter-on-quarter increase, Read more …

A San Francisco-based cryptocurrency startup has just announced that is has raised $50 million from investors. Layer 1’s aim is to operate an all-in-house Bitcoin mining facility in West Texas. Layer 1 hopes to control all aspects of the mining process itself. This will include chip production and advanced cooling techniques to make the scheme viable in the heat of a Texas summer. Major US Bitcoin Mining Operation Could Result in Greater Network Decentralisation Layer 1 first launched late last Read more …

The Ford Motor Company is looking into blockchain technology and geofencing to accurately track the number of “green miles” driven by its energy-efficient vehicles. Analyzing real-world benefits of energy-efficient vehicles On Oct. 15, Ford announced that it is expanding its European plug-in hybrid electric vehicle (PHEV) pilot project to Cologne in Germany. The United States car manufacturer aims to analyze the real-world benefits of these energy-efficient vehicles for the environment, commercial vehicle owners and operators. The pilot, which is also Read more …

That notorious abyss of Crypto Twitter – where the XRP Army patrols, altcoins flourish and falter, and @Vitalik99832182 promising you infinity ETH – got a new plaything today: an eToro crypto portfolio calibrated to the tenor of its tweets. The new financial instrument is called TheTIE-LongOnly CopyPortfolio, and, as of Tuesday morning, it was live on eToro’s trading platform with a minimum $2,000 buy-in. It’s a partnership between eToro exchange and The TIE data analysis firm, who sources their tweets – Read more …

Oxford University Press published its recent quarterly report which revealed the term ‘satoshi’ was added to the Oxford English Dictionary (OED) database. The word represents the “smallest monetary unit in the Bitcoin digital payment system,” according to the definition. Also Read: The Fed Plans to Inject $60 Billion per Month Into the Economy Satoshi, the Smallest Unit in Bitcoin, Added to the Oxford Dictionary Digital currencies continue to gain mainstream acceptance and the ecosystem’s associated words and terminology have been Read more …

Advertisment Oxford University Press published its recent quarterly report which revealed the term ‘satoshi’ was added to the Oxford English Dictionary (OED) database. The word represents the “smallest monetary unit in the Bitcoin digital payment system,” according to the definition. Also Read: The Fed Plans to Inject $60 Billion per Month Into the Economy Satoshi, the Smallest Unit in Bitcoin, Added to the Oxford Dictionary Digital currencies continue to gain mainstream acceptance and the ecosystem’s associated words and terminology have Read more …

Grayscale Investments, one of the world’s leading digital asset management companies, has reported a new milestone. According to a quarterly report, the New York–based firm announced inflows of $254.9 million in net investments, a new record for a single quarter that tripled the $85 million it accrued in the preceding quarter.  Michael Sonnenshein, the managing director of Grayscale, told Fortune that the new record is a reflection of increasing interest from professional investors, who now see cryptocurrencies as a viable Read more …

Bitcoin has continued trading sideways despite attempting to break up overnight, and its inability to garner any clear trend comes as multiple altcoins rally. It is important to note that BTC’s inability to break above $8,400 overnight may signal that this region is a growing level of resistance. Analysts are now noting that one prominent technical indicator may signal that significant gains are imminent for the cryptocurrency in spite of the bearish price action it has incurred as of late. Read more …