Bitcoin (BTC) Set For $4,500 With Tether (USDT) Reserve Doubts

Bitcoin prices stable and bullish Suspicion around Tether reserves will likely benefit Bitcoin Participation levels low but could increase as demand picks up Tether is making headlines thanks to their latest update touching on their reserves. While Bitcoin prices are unresponsive, it is likely that BTC will react as investors get edgy liquidating their USDT. Bitcoin Price Analysis Fundamentals By rolling a service with the express purpose of sheltering crypto traders during times of uncertainty, investors as well as traders expect better from Tether. On many occasions, the state of…

Regulatory Bodies Call on Crypto Industry to Participate in Securities Law Review

Two national securities bodies in Canada have issued a joint consultation paper on March 14, aiming to gather industry feedback about cryptocurrency token regulation. In a summary press release about the paper, the Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) said it was necessary to adapt existing laws in order to cope with the emergence of new trading platforms specializing in crypto-assets. The CSA is a national standards group covering 57 different areas, while the IIROC is a self-regulatory body overseeing investment dealers and trading…

Ripple (XRP) Drops But Quick Recovery Reveal Strong Demand

Ripple prices temporarily drop but recover Streams of bullish fundamentals would help build momentum Activating triggers at 34 cents must be a wide-ranging bull bar with volumes above 61 million Momentum is building in lower time frames. Since technical indicators are favorable and the streams of bullish fundamental prop prices, odds are Ripple (XRP) will trend above 40 cents in weeks ahead. Ripple Price Analysis Fundamentals The crypto winter may be biting, but that is not stopping major marketing moving announcements. Top of the list is XRP listing at CoinBase…

Blocktream’s Satellite Messaging API Is Now Available on Mainnet

Blockstream has launched its satellite messaging application programming interface (API) on mainnet. Essentially, this means users can now broadcast data via the company’s satellite network and pay with Lightning payments. No Internet? No Problem Blockstream’s satellite service was established with the aim of replacing the Bitcoin network’s dependence on land-based internet connections with actual satellites, thereby putting the network within reach of the world’s population. According to the blockchain-based startup, the satellite network makes 24-hour broadcasts of the Bitcoin network all over the world, ensuring that the blockchain is protected…

Valued At $1 Billion, Canaan Creative Is Encroaching on Bitmain’s Dominance

ASIC chip manufacturer Canaan Creative is closing the gap between itself and industry leader Bitmain after a massive infusion of capital. In its latest funding round, the Chinese mining company has raised several hundred millions of dollars, Chinese publication Securities Times reports. Dubbing Canaan Creative as the second-largest mining firm in the world, the publication notes that the funding has raised the company’s overall valuation to $1 billion. This influx of capital comes after an explosive period of growth for the industry’s second-largest mining manufacturer. According to Securities Times, the…

CipherTrace Partners with Maltese Regulators to Manage Risk of Financial Crimes

CipherTrace, a blockchain analytics company, is partnering with the Republic of Malta’s sole financial regulatory agency to ensure that all crypto transactions within the country are free of money laundering and other similar financial crimes. As the Times of Malta reported on March 11, 2019, the Malta Financial Services Authority (MFSA) has enlisted the help of U.S.-based company CipherTrace to audit cryptoasset services that operate within Malta’s jurisdiction. The MFSA will require potential cryptocurrency agents, like individuals operating exchanges, wallets and ICOs, to formally register with the MFSA. CipherTrace will…

Previously Hacked Gatecoin Exchange Receives Liquidation Order Following Banking Problems

Gatecoin, a crypto exchange that was hacked in May 2016, has announced on March 13 that it has received a winding up (compulsory liquidation) order from an unspecified court. The company wrote that Gatecoin will have to cease operation with immediate effect, noting that the exchange will assist in the liquidation process in order to distribute assets to the creditors. The Hong Kong-based exchange had suffered a major hack back in May 2016, with around $2 million in cryptocurrencies lost after the firm reported a security breach that gave hackers…

Bitcoin Trades Flat While Altcoins Tease Bull Breakout

View Bitcoin is lacking clear directional bias for a ninth straight day, neutralizing the bullish view put forward by a long-tailed doji candle created on Feb. 27. As a result, a return to levels below $3,700 cannot be ruled out. A UTC close above the March 9 high of $3,950 would revive the short-term bullish outlook and possibly yield a rally toward the recent high of $4,190. While a few alternative cryptocurrencies (altcoins) have recently witnessed a longer-term bull reversal, the altcoin market as a whole is yet to exit…

Cryptocurrency Community Eyes Tether After Website Dilutes USD Backing Claims

Developers behind stablecoin Tether (USDT) have drawn scrutiny today, March 14, after social media users noticed they had removed previous claims that the altcoin was fully backed by United States dollars. Tether, which has faced various publicity hurdles over the transparency of its holdings, had de facto guaranteed that each of its USDT tokens had an equivalent 1 USD in the bank. Intended as the opposite to fractional reserve banking, as Cointelegraph reported in December last year, documents had further confirmed the validity of Tether’s backing claims. Now, however, a…

Court Rules Quoine Exchange Liable for Reversing Bitcoin Trades Worth Millions

The Singapore International Commercial Court has ruled against cryptocurrency exchange Quoine after it reversed trades for a total of 3,092 bitcoins (BTC) by crypto market maker B2C2 two years ago. The court published a case summary Thursday, stating that it found Quoine liable for the “breach of contract and breach of trust” in reversing B2C2’s trades made at an “abnormal” exchange rate back in April 2017. B2C2 had made seven trades in which it sold ether (ETH) at an exchange rate of 10 BTC per token – approximately 250 times higher…