Monthly Archives: May 2019

Canadian Provinces Compete for Attention of Bitcoin Mining Businesses

In Canada, individual provinces are responsible for energy issues, and their interest in Bitcoin mining is growing as several provincial governments have already offered low-cost energy incentives to attract mining operations to their provinces. Quebec, the largest Canadian province, wants in on the action and has overruled its energy provider Hydro-Québec’s request for a rate increase for Bitcoin businesses, in order to allow Bitcoin miners to have the same hydro rate as the largest industrial customers. Bitfarms, the only major Bitcoin mining company in Quebec, will continue […]

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US CFTC Chair Says Interest in Crypto Could Bring About More Clearinghouses

U.S. CFTC chairman Christopher Giancarlo said that the “explosion in interest” in cryptocurrencies will likely lead to new applications for clearinghouses. The United States Commodity Futures Trading Commission (CFTC) chairman Christopher Giancarlo said that the “explosion in interest” in cryptocurrencies will likely lead to new applications for clearinghouses. Giancarlo delivered his comments in a speech published on May 1. In his testimony to the House of Representatives Committee on Agriculture Subcommittee on Commodity Exchanges, Energy and Credit in Washington, D.C., Giancarlo said: “The Commission anticipates new applications […]

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Crypto Community Monitors Bitfinex Wallets and the Strange 6% BTC Premium

Whether cryptocurrency enthusiasts believe the stablecoin controversy is worrisome or mere FUD, the news surrounding the $850 million of Bitfinex funds locked up has shaken the markets. Now, digital asset traders are closely monitoring the large premium on Bitfinex, where the price of BTC is trading for $300 more than on most spot markets. The publicly known Bitfinex cold storage wallet is also being monitored as large sums of BTC have left the address since the announcement last week. Also read: Researchers Find Hundreds of Ethereum Wallets […]

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Indictments Issued for Two Individuals for Running “Shadow Banking” Operation

U.S. Attorney’s office for the Southern District of New York has charged two individuals for providing “shadow banking” services to crypto exchanges. According to a statement by Geoffrey S. Berman, the U.S. Attorney for the Southern District of New York, published on April 30, 2019, “Reginald Fowler and Ravid Yosef allegedly ran a shadow bank that processed hundreds of millions of dollars of unregulated transactions on behalf of numerous cryptocurrency exchanges.” The D.A. also claimed that both individuals ran an organization that managed to evade the Anti-Money […]

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Percentage of CoinJoin Bitcoin Transactions Triples Over Past Year

According to a study released by Longhash on April 29, 2019, the relative usage of CoinJoin out of all bitcoin transactions has tripled in one year, currently sitting at 4.09 percent. CoinJoin was first proposed in mid-2013 as part of many solutions to solve the issue that bitcoin transactions are not genuinely anonymous. Considering that transaction histories can be easily traced on the public ledger, anyone with the technical know-how and resources can perform transaction analysis to de-anonymize users. CoinJoin works by allowing multiple users to pool […]

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TrustToken Launches Stablecoin Backed by Canadian Dollar

TrustToken has released its latest stablecoin, TrueCAD, tied to the Canadian dollar. TrustToken has released its latest stablecoin, TrueCAD, on May 1, 2019. The latest in TrustToken’s line of fiat-backed stablecoins, its value is linked to the Canadian dollar. TrustToken has also created a number of other stablecoins, such as TrueUSD (U.S. dollars), TrueGBP (British pounds) and TrueAUD (Australian dollars); each of these backed at a purported 1:1 ratio with their associated fiat currencies. For now, holders can use these four stablecoins on the TrustToken app, and […]

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“Bye Gold, Buy Bitcoin”: Grayscale Urges Investors to Drop Gold for BTC

Grayscale Investments is weighing in on the gold versus bitcoin debate. Its two sats? Drop the bars, buy the bits (and the dip). The Digital Currency Group off-shoot has launched a “Drop Gold” campaign that encourages investors to ditch the old asset for its digital counterpart, bitcoin. “Everyone loves a piece of gold jewelry, but is gold really the best investment in today’s digital world?” This is the rhetorical question that the website challenges its readers to consider. “Gold represents the past,” it continues, saying that Nixon […]

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Crypto ATM Operator CoinFlip Postpones Tether Stablecoin Listing

Cryptocurrency automated teller machine provider CoinFlip has postponed listing USDT as the firm wants “full assurance that USDT is stable.” Cryptocurrency automated teller machine (ATMs) operator CoinFlip has postponed support for the  stablecoin tether (USDT). The company announced the development in a tweet on May 1. CoinFlip initially revealed that it will start listing Tron-powered stablecoin USDT at over 180 CoinFlip’s ATMs on April 30. However, in about 24 hours CoinFlip posted an update, saying that it has postponed USDT listing “until a later time.” The company […]

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The Number of Cryptocurrency Wallet Users Keeps Rising

Data published recently shows that the number of cryptocurrency wallet users has been steadily increasing over the years, almost independently of the market ups and downs. This positive trend has continued throughout the extended bearish market and has in fact steepened in the last few weeks. Also read: Dozens of Crypto Trademarks Filed in the US This Year Over 36 Million Crypto Wallets Created so Far A study published by market and consumer data provider Statista compiles quarterly figures for a three-year period. The number of blockchain […]

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Crypto Markets See Mild Green, European Stocks Report Record-Breaking Calm

After yesterday’s positive market momentum, most of the top 20 cryptos are seeing mild green on the day at press time, seeing typical growth of between 1 and 7%. Wednesday, May 1 — after yesterday’s positive market momentum, most of the top twenty cryptocurrencies are seeing mild green on the day at press time, seeing typical growth of between 1 and 7%, as Coin360 data shows. Market visualization courtesy of Coin360 Bitcoin (BTC) is up 0.89% on the day and is trading at $5,399 by press time, […]

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