Category: Cryptocurrency News

Blockchain analytics firm CipherTrace released a report this morning showing that roughly $1.7 billion in cryptocurrency was stolen or scammed over the course of 2018. The amount stolen by hackers alone is staggering: over $950 million. The figure represents an increase of more than 300% from 2017. The scams noted in the report don’t even include individual user scams. Instead, they focus on exchange exit scams, phony exchange hacks, and ICO scams. They account for an additional $725 million. The Read more …

Experts at financial services giant JPMorgan say that blockchain technology will provide benefits to banks and payment systems, Bloomberg reports on Jan. 29.   JPMorgan’s chair of global research, Joyce Chang, said, “Blockchain isn’t going to reinvent the global payment system, but it will provide marginal improvements. The most meaningful impact will probably be three to five years away and mostly on trade finance.” A recent report led by Chang purportedly states that blockchain applications in trade-finance are more common Read more …

Following yesterday’s widespread crypto market plunge, most major cryptocurrencies have bounced slightly today, but they are still down significantly from where they were a week ago. The market’s recent volatility has led Tether, the largest stable coin by market cap, to briefly overtake EOS to be the fourth most valuable cryptocurrency by market capitalization. Today’s bounce in the markets was not unexpected, and many analysts had previously speculated that they were oversold. Analyst Expected Crypto Market to Bounce, Tether Climbs Read more …

Gemini crypto exchange, founded by brothers Cameron and Tyler Winklevoss, completed a SOC 2 Type 1 security compliance review, according to a post made on their Medium blog on Jan 29.   An organization that undergoes a Service Organizational Control (SOC) 2 audit aims to ensure that it has met the service criteria set by the American Institute of Certified Public Accountants (AICPA). These criteria pertain to standards of confidentiality, security, privacy, processing integrity and availability. According to the announcement, Gemini is Read more …

Market Updates The cryptocurrency market has its very own long tail trend that sees the majority of all value flow to BTC, with altcoins left to fight for the scraps. With a $60 billion market cap and a dominance of 53 percent, BTC has ruled the market since day one. As altcoin investors endure the persistent pain of an ongoing bear market, they may be entitled to ask: is the long tail a long-term trend?  Also Read: Using Technical Indicators to Read more …

Apple’s fiscal Q1 revenue and profits fell, marking the first time the company had to report such dismal numbers for this particular quarter in more than 10 years. The culprits behind the declines were slowing iPhone sales and China’s economic downturn. Apple CEO Tim Cook talking about China on the company earnings call moments ago. Here’s what he said: pic.twitter.com/Vt5GSABwB4 — CNBC’s Fast Money (@CNBCFastMoney) January 29, 2019 The tech giant’s earnings per share and revenue did beat analyst estimates. This Read more …

The Japanese Yen (JPY) has surpassed the USD in terms of worldwide bitcoin trading in the past 24 hours.  Japanese Yen Tops Dollar According to data from Coinhills, the JPY has officially overtaken the USD in terms of bitcoin trading throughout the world. A total of 490,925.45 BTC were traded against the JPY over the last 24 hours. Data shows that 49.10 percent of the entire Bitcoin 00 trading volume for the last 24 hours has been exchanged against the JPY, Read more …

Since our last crypto market round-up report on Friday, the climate has changed significantly for at least one major cryptocurrency: Ethereum. All eyes are on Ether as it pushes closer and closer to the $100 mark. Bitcoin, meanwhile, briefly crossed the threshold of $3,400. By most accounts, the Bitcoin price is working on a test of the $3,000 mark, which is both a psychological and market indicator. Bitcoin Price Likely to Test $3,000 The Bitcoin price‘s 3-day chart looks a bit Read more …

In the ten years of Bitcoin’s existence much has been made about its supposed utility for criminals by the mainstream media. The latest example comes from the UK’s Daily Mail, which has made a big deal about the digital currency’s use in the case of a nurse using the dark web to deal pills out of California. However, given that criminal acts are estimated to account for less than 1% of all transactions occurring on the Bitcoin network, such headlines Read more …

Graphics card maker AMD announced its “highest profitability in [seven] years” Tuesday, but expects its revenue to drop next quarter due at least in part to falling demand from cryptocurrency miners. The company brought in $1.42 billion in revenue last quarter, for a 2018 total of $6.48 billion – well above 2017’s total of $5.25 billion, AMD said in its Tuesday earnings release. That said, AMD still missed its target revenue by some $20 million, and the release suggested that Read more …

Big news today from Bloomberg‘s Matthew Leising and Alastair Marsh: “Fidelity Investments is targeting a March launch date for its Bitcoin custody service, according to three people with knowledge of the matter, as the mutual-fund giant moves forward with a plan that could help ease fears of trading cryptocurrencies.” “We are currently serving a select set of eligible clients as we continue to build our initial solutions,” the company said in a statement. Over the next several months, we will Read more …

San Francisco-based blockchain firm TokenSoft has rolled out a beta version of its wallet for digital assets and digital securities, according to a press release published on Jan. 29. The new product called Knox Wallet provides cold storage and a self-custody platform for managing multiple assets, including both cryptocurrencies such as Bitcoin (ETH) and Ethereum (ETH), as well as tokenized assets such as real estate, equity, or debt. The wallet is now undergoing a testing phase, while the general availability Read more …