Crypto Trading Privacy Gets a Boost as $15M of Tether Moves to Liquid Sidechain

Stronger privacy is coming to the largest stablecoin, tether, with a recent blockchain-to-blockchain swap of $15 million worth of tokens. At 11:27 UTC on Jan. 7, stablecoin issuer Tether conducted a cross-chain swap of some 15 million USDT reserves from ethereum to Blockstream’s Liquid, a federated sidechain running parallel to the bitcoin blockchain. The technical possibility of USDT’s Liquid debut was first announced in July 2019. Innocuous at first glance, the transfer has implications for both digital asset trading and the larger tether market, which saw a mass migration from…

Libra Exec Boasts Project’s Benefits Over Bitcoin at CES 2020

The vice-chairman of the Libra Association has been touting the benefits of the project over Bitcoin at the Consumer Electronics Show (CES) in Las Vegas. Dante Disparte, the vice-chairman of the non-profit organization overseeing the proposed digital currency led by Facebook (NASDAQ:FB), was speaking at the Digital Money Forum of the CES, where he emphasized Libra’s advantages over Bitcoin, the largest cryptocurrency in the world. “Bitcoin as an asset class has proven that mathematical scarcity can support an incredibly exciting asset,” said Disparte, before adding, “It’s not a means of…

Regulations Drive Down Bitcoin Prices, Says Research

The introduction of regulations tend to drive Bitcoin and cryptocurrency prices down, says new research. News of crypto regulations have a negative impact on the price of Bitcoin, suggests a 2020 paper published in the journal Research in International Business and Finance. The study looks at five categories of news: anti-money laundering, exchange controls, issuance (securities) regulations, and state-backed cryptocurrencies ⁠— all of which statistically drive prices down. The study analyzed 120 regulation-related news events reported by traditional media outlets like Bloomberg, Reuters, BBC, and the Financial Times between 2017…

Travis Kling on Bitcoin as a Safe Haven Asset

The conversation about whether bitcoin is a safe haven asset continues in the wake of Iranian missile strikes, which saw the price of BTC both surge and retrace in parallel with crude and gold. To help explain what’s going on, we feature comments from Ikigai Asset Management’s Travis Kling.  Also in today’s episode, we look at newly published priorities from the SEC around crypto including investor suitability, trading practices and compliance program effectiveness. We also discuss former Bakkt CEO and now U.S. Senator Kelly Loeffler’s appointment to the committee that…

Vulture Investor Is Looking to Buy QuadrigaCX Creditors’ Claims

A New York investment firm wants to buy claims from former QuadrigaCX users – provided there’s enough interest from creditors entitled to assets held by the infamous exchange. Argo Partners is opening a dialogue with creditors of QuadrigaCX, which collapsed nearly a year ago following the death of its founder and CEO Gerald Cotten, in hopes of gauging how many individuals will sell stakes in its remaining funds. Creditors who don’t want to wait for court-appointed bankruptcy trustee Ernst & Young (EY) to sort through the claims and liquidate assets…

Tezos Breaks Out of Corrective Phase, Aiming for Higher Highs

In the last few hours, Tezos broke out of a bearish trend it endured since mid-December 2019. Now, technical indicators show XTZ aiming for higher highs. Tezos Technical Analysis  On Dec. 13, Tezos peaked at a high of $1.86. Since then, this cryptocurrency entered a corrective phase that saw its price decline by nearly 35%. XTZ went down to reach a low of $1.21 on Jan. 2.  Throughout the bearish trend, Tezos was contained within a descending parallel channel. Every time this crypto plunged to the bottom of the channel,…

Bitcoin Price Rockets to $8,450 as Iran Attacks US Bases in Iraq

On Tuesday Bitcoin price (BTC) continued the rally of the previous day by retaking $8,000 then pushing above the 200-day moving average for the first time since November 2019. The strong upside move also brought the digital asset above the long-term descending channel which formed on Jun. 25 and outside of today’s channel breach, Bitcoin had been pinned beneath the trendline since Oct. 26 when Chinese President Xi Jinping called for China to fast track the development and integration of blockchain technology.   Cryptocurrency market weekly overview. Source: Coin360 Many believe…

Binance Crypto Exchange Adds Support for Australian Dollars and Thai Baht

Major cryptocurrency exchange Binance added support for Australian dollars (AUD) and Thai baht. Binance announced support for the national currencies in separate releases on Jan. 7. Thai digital asset exchange Satang Corporation will process Thai baht transfers, while Australian dollar transfers will be facilitated by Banxa, a company specialized in internationally compliant fiat-to-crypto gateways.  Satang’s fiat processing service is integrated into Binance’s trading platform by means of a recently launched application programming interface that allows users to deposit and withdraw baht directly to their accounts. Satang CEO and co-founder Poramin…

‘Cryptocultists’ May Stop Bitcoin Bull Market — Trader Who Called $20K

Bitcoin (BTC) returning to a bull market depends on whether “cryptocultists” have already exited the market, veteran trader Peter Brandt has warned. In a tweet on Jan. 8, Brandt, who has become a regular Bitcoin pundit in recent years, confirmed he was eyeing current price activity to determine the likely next move. Brandt: Bitcoin needs “cryptocultist shakeout” BTC/USD gained 5.5% in the 24 hours to press time, retaking $8,000 in a move many previously considered highly unlikely.  Whether momentum continues, Brandt says, is nonetheless down to the composition of the…

COO Parts Ways With OKEx to Focus on Mass Adoption Through Consultancy

OKEx chief operating officer Andy Cheung announced Jan. 7 that he has resigned from the cryptocurrency exchange to form a new blockchain consultancy institute called Bitwork. The entrepreneur’s stated goal is to help projects connect to markets and drive mass adoption. Helping create quality projects Cheung claimed that his contribution toward the mass adoption of cryptocurrency is very limited within an exchange. Therefore, with OKEx’s blessing, he left to better achieve these stated goals with this new venture. His inspiration for Bitwork comes from his role at OKEx: “The question…