Bitcoin Price Key Highlights Bitcoin is down to a major support zone visible on the long-term chart and a breakdown could lead to a test of $4,000. If bears still take price below the next long-term bottom, a move towards $2,000 could come next. On the other hand, a bounce off this strong floor could allow more buyers to sustain a climb. Bitcoin is down to the major support zone around $6,500 and might aim for the next floors on Read more …
A blockchain project is facing an uproar from community members who say the team has been undermining the value of the token it used to raise millions. The controversy around Quantstamp, maker of a protocol that seeks to decentralize smart contracts auditing, reached a fever pitch late last week, with acrimony spilling into the project’s social channels. There, representatives for the San Francisco-based company, registered in Delaware, took heated questions from token buyers. At issue is Quantstamp’s acceptance of U.S. Read more …
Key Highlights ETH price declined further and failed to hold the $500.00 handle against the US Dollar. This week’s followed important bearish trend line acted as a barrier near $540 on the hourly chart of ETH/USD (data feed via Kraken). The pair declined below the $500 handle and it may accelerate declines in the near term. Ethereum price is struggling to recover against the US Dollar and Bitcoin. ETH/USD traded below the $500 level and it remains at a risk Read more …
Digital Jersey, an independent organization that represents Jersey’s digital industries, has signed a memorandum of understanding (MOU) with cryptocurrency exchange Binance, according to a press release published June 11. Per the terms of the MOU, the two firms aim to develop a compliance base and cryptocurrency exchange on the island. Digital Jersey will reportedly cooperate with Binance to deliver training as part of their digital skills program and other services with the purpose of promoting the blockchain industry in Jersey, Read more …
The Financial Action Task Force (FATF), the international group that combats money laundering and terrorism financing, will start developing binding rules for crypto exchanges in June, a Japanese official familiar with the matter told Reuters June 12. The new rules would be an upgrade to the non-binding resolutions which were adopted by the FATF in June 2015. The FAFT will consider whether existing guidelines on anti-money laundering (AML) measures and reporting suspicious trading activity are still appropriate, and if they Read more …
A major shopping center based in Slovenia is widening a cryptocurrency payments pilot. BTC City Ljubljana, located in Slovenia’s capital of Ljubljana, will allow a group of 150 people to use cryptocurrencies at 24 businesses located in the sprawling complex, which according to online materials boasts over 500 storefronts. Those include services for clothing and electronics as well as restaurants, Slovenian TV channel “24 Ur” reported on Monday. Despite the seemingly relevant name, there’s no relationship between bitcoin and the popular Read more …
Finance The former chair of the United States Federal Deposit Insurance Corporation, Sheila Bair, recently published an article imploring the U.S. Federal Reserve to explore central bank-issued digital currencies (CBDCs). In the article, Mrs. Bair argues that the development of a state-issued cryptocurrency could “reduc[e] the risk of financial crises” and “improv[e] monetary policy tools.” Also Read: Twitter Experience Worsens, Ether Fake Giveaways Taking Over Sheila Bair Authors Article Advocating Central Bank-Issued Digital Currency The former FDIC chair begins the article Read more …
The hacking of exchanges and relentless attacks from financial powers have, in the short run, adversely affected the price of Bitcoin. However, once the news about these adverse effects fades, investors will be able to turn their focus to several bright ongoing developments. What Doesn’t Kill Bitcoin Makes It Stronger The recent spate of crypto exchange hacks, ongoing regulatory issues, and reports of an investigation into possible price manipulation have sent the price of Bitcoin – and nearly every other Read more …
Japanese police are investigating a case of cryptojacking that involves Monero-mining software Coinhive, sources familiar with the matter told local news outlet Mainichi June 12. Investigators suspect that the alleged culprits are in violation of the law banning the use of computer viruses. According to the sources, the suspects involved in the case set up websites that installed the Coinhive crypto mining software on visitors’ computers without their consent or “clear notices about mining.” So far, Japanese police have investigated Read more …
Adoption of the blockchain within the financial services industry is on an intense upward trajectory, according to the findings of management consulting company Greenwich Associates. They have found that the industry is spending about $1.7 billion per year on the technology. Banking Industry Spends $1.7 Billion Each Year on Blockchain as Products Are Rolled Out While the banking industry remains in strong opposition to the cryptocurrency market for a number of disruptive reasons, banks and other firms within the financial Read more …
Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! Proponents of cryptocurrency often argue that this technology will have an impact on the world that is comparable to that of the internet, but one of that revolution’s most successful entrepreneurs has cast shade on that bullish prediction. Speaking with regional media outlet Arabian Business, Sabeer Bhatia — founder of now-shuttered email service Hotmail — said that cryptocurrencies operate on a business model built Read more …
The US House of Representatives Financial Services Committee has proposed a bill today that would initiate a study on how cryptocurrencies are used in sex trafficking. Should the bill be approved and signed into law, it would require the Comptroller General of the US to research how “virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking.” The study would additionally examine the usage of cryptocurrency in the Read more …