Monthly Archives: October 2020

Crypto art piece sells for $130K at Christie’s auction house

The NFT is “a symbolic expression of Satoshi’s vision, forged out of the very code that lies at the genesis of it all.” Christie’s auction house has announced the sale of a digital portrait of the Bitcoin code for more than $130,000. It marks the first time an NFT was auctioned at a major auction house, and the price exceeded expectations. According to the auction house, an unknown buyer purchased “Block 21,” a physical piece of art and non-fungible token (NFT) of Satoshi for $131,250 at Christie’s […]

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Key Bitcoin price metric at 10 week low after traders close long positions

Bitcoin derivatives data show pro traders increased their short positions in the past three weeks. October has barely started and the price action in the crypto markets has been both exciting and worrisome. Bitcoin (BTC) has seen a strong $10.9K rejection and a quick $10.2K bottom over the past week. The whipsaw price action has been the norm over the past three weeks and is quite gruesome for the bulls and bears. Regardless of the reason behind these moves, the recent newsflow of negative crypto events has […]

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Congress’ renewed attack on Big Tech may clear the field for decentralization

The Antitrust Subcommittee looks for new legal tools to rein in Apple, Amazon, Facebook and Google — a clear opening for tech tools built to decentralize. On Tuesday, a House subcommittee put out a massive report that places Big Tech in the crosshairs of major antitrust reforms. The four firms at the center of the report — Apple, Google, Facebook and Amazon — have been in hot water with Congress for some time. But while the tone of the recent conversation is punitive towards those firms, it […]

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OKCoin opens doors to crypto traders in Singapore

The new office will reportedly serve as a new hub for crypto traders in Asia and Oceania. One of the world’s oldest crypto exchanges now has an office in Singapore. According to an Oct. 8 announcement from OKCoin, the exchange is opening its doors to crypto traders in Singapore five months after getting the appropriate licenses from the country’s financial watchdog. OKCoin already offers support for the Singapore dollar, and reports its customers can trade SGD pairings for Bitcoin (BTC) and Ethereum (ETH). The new location will […]

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Crypto For Congress Puts “American-Made” Bitcoin Into The Hands Of Policymakers

This week, the Chamber of Digital Commerce PAC sent all 535 members of the United States Congress about 0.0047 BTC ($50 worth at the time), in an effort to educate the country’s legislators around cryptocurrency and blockchain technology that it calls Crypto For Congress. Leveraging Federal Election Commission rules that allow for cryptocurrency-based campaign contributions and its own Political Action Committee to make the BTC donations, the Chamber of Digital Commerce ultimately hopes to motivate these lawmakers to embrace the advantages presented by blockchain technology. “Our industry […]

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BitMEX’s actions likely to scare off mainstream institutions, former CBOE trader says

BitMEX not playing by the rules today means added regulatory consequences tomorrow. Cryptocurrency derivatives exchange BitMEX has not played ball by U.S. regulatory rules, which hurts the crypto industry as a whole, according to David Carman, a former veteran Chicago Board Options Exchange trader. Carman currently helps head up a Chicago-based global crypto regulatory association, seeking to bring regulatory clarity to the industry.   “If they’re not going to behave, they’re just going to hurt the industry and drag it down,” Carman told Cointelegraph regarding BitMEX. “What’s BitMEX […]

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Finance Redefined: DeFi party’s over, back to building now, Sept. 30—Oct. 7

DeFi tokens suffered massive losses this week, and they could continue. This week in DeFi was notable for its lack of notable events. Nobody set new records for the fastest hack of a new contract, nobody famous exit scammed or pulled a DeFi Jesus reincarnation act. You can just feel that something is different now. It used to be that every weekend we’d discover some new exotic food, or someone would launch a vampire attack on another protocol with a cleverly disguised Ponzi scheme. Not to say […]

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Price analysis 10/7: BTC, ETH, XRP, BCH, BNB, DOT, LINK, LTC, CRO, BSV

Bitcoin and altcoins could remain range-bound for a few days as traders search for triggers that will start the next trending move. Crypto prices may be in a rut but that doesn’t mean product development and acquisitions cease to occur. This week Japanese financial firm SBI Holdings acquired a 100% stake in TaoTao cryptocurrency exchange.  With the latest acquisition, SBI now owns two cryptocurrency trading platforms. This suggests that the financial conglomerate is betting on an increase in cryptocurrency trading in Japan and is positioning itself to […]

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Immediate $1,200 Stimulus Checks: Trump Calls on Congress to Pass Stand-Alone Stimulus Bill Fast

Congress has been urged to pass a stand-alone stimulus bill to immediately provide Americans with second stimulus checks of $1,200 after talks of approving a larger stimulus package of $2.2 trillion have stalled. New Stimulus Bill for $1,200 Direct Payments to Americans U.S. President Donald Trump is calling on Congress to quickly pass individual coronavirus relief aid measures, including a stand-alone bill to provide $1,200 stimulus checks to Americans immediately. He tweeted on Tuesday: If I am sent a stand alone bill for stimulus checks ($1,200), they […]

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Pantera says they’re placing a heavier bet on DeFi than the rest of the market

Despite the recent slump, Pantera believes that most of the growth in the next bull cycle will be generated by DeFi. In an October 6 webinar, Pantera Capital disclosed that their Digital Asset Fund intends to invest more heavily into DeFi assets than the rest of the market.  Source: Pantera Capital. Pantera’s co-chief investment officer, Joey Krug said that unlike other funds that allocate most of their portfolios to stores of value like Bitcoin (BTC), his company is prepared to place its primary bet on DeFi: “And […]

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