This Trader Doesn’t See Why Bitcoin Can’t Hit $12,000 Soon

After starting last week rather weak, Bitcoin began to push higher into Friday and into the weekend, ending up pushing as high as $11,500. For context, the lows of last week came in closer to $10,400, far below the local highs. While Bitcoin’s upward momentum stalled on Sunday and Monday morning, analysts are still certain that the coin’s short-term trend is bullish. One top investor in the space recently said that there’s a good likelihood Bitcoin trades at $12,000 this week. What may stop a Bitcoin rally, though, is news…

Aave Raises $25 Million in Round Led by Blockchain.com

Ethereum-based DeFi lending platform Aave raised $25 million during its latest venture capital investment round. Blockchain.com Leads Funding Several companies participated in Aave’s latest funding round, including Blockchain Capital, Standard Crypto, and Blockchain.com. The new funds will go toward extending the project’s reach. Aave CEO Stani Kulechov says that the project aims “to bring DeFi closer to institutional use” and “expand the team size to serve the growth in Asian markets.” VC investors will also be able to stake tokens and participate in governance, according to Aave. The company has…

800K BitBay users face 2nd unscheduled outage this year

Estonia-based cryptocurrency exchange BitBay went offline for almost two hours on Monday without explanation. According to a tweet posted by BitBay on Oct. 12, the exchange went down at approximately 4:28 PM (UTC) today before resuming trading at 6:10 PM. BitBay posted an update before it had resolved the unnamed issue, announcing its plan to launch the platform with “the blocked possibility of transaction processing.” Users had 30 minutes to cancel offers posted on the exchange shortly before it went offline. This incident is BitBay’s second unscheduled outage in 2020.…

Ledger wants to help MicroStrategy secure its $400m Bitcoin treasury

Ledger is mostly known for its consumer-facing hardware wallets, but since last year, a number of enterprises have also begun to use Ledger Vault, according to the company’s vice president of product, Jean-Michel Pailhon. This product is focused on providing custody solutions to enterprise clients.  In fact, the Ledger team is currently trying to sell MicroStrategy on the advantages of its product. MicroStrategy is a business intelligence company that made a splash in August 2020 by converting a large portion of its treasury into Bitcoin (BTC). More recently Square, who just acquired…

Ethereum Gets Privacy-Focused Layer-2 Scaling Solution with Aztec 2.0

Key Takeaways Aztec announced the launch of Aztec 2.0, a new scaling solution for Ethereum. The Layer-2 network will use a new technique called “PLONK” utilizing zk-SNARKs to bundle transactions privately. Developers will be able to access a new scripting language to write transactions compatible with Aztec 2.0. Share this article Aztec has announced the launch of a new scaling solution for the Ethereum network—Aztec 2.0. The startup, which focuses on privacy solutions for Ethereum, said the new version would utilize a zk-SNARK standard called PLONK to build a two-layer…

Things just got MESSy for potential Ethereum Classic 51% attackers

Over the past weekend, on block 11380000, a solution for the prevention of 51% attacks was introduced to the Ethereum Classic (ETC) community. Several such attacks have recently placed ETC at a crossroads, leaving the very survival of the chain uncertain. In the weeks that followed these attacks, the community worked to evaluate numerous potential solutions.  The first one that has been implemented is called MESS, which stands for Modified Exponential Subjective Scoring. Its predecessor was first suggested by Vitalik Buterin back in 2014. It builds on the assumption that…

G7 will block Libra launch until regulations in place

In a draft of a statement expected to be released tomorrow, countries representing the world’s largest economies said that they would initially oppose the launch of Facebook’s Libra project. According to an Oct. 12 report from Reuters, central bankers and finance ministers from the United States, Canada, Japan, Germany, France, Italy, and the U.K (also known as the Group of Seven, or G7), said it would halt global stablecoin projects pending appropriate regulatory oversight. The draft stated: “The G7 continues to maintain that no global stablecoin project should begin operation…

$17K Bitcoin price a real possibility if bulls flip $12K to support

Bitcoin (BTC) price had been acting inside a narrow range for the last few weeks but the momentum and trend shifted as a bullish breakout occurred on the announcement that Square had allocated 1% of its cash reserves to BTC. This bullish breakout even caused the price to rally from $10,600 to $11,500, which is almost $1,000 in a few days. Despite this strong upside move, traders are still cautious as they are unsure whether the bullish momentum is back or if this is just a temporary blip. Bitcoin faces…

CFTC chairman admits regulation must keep up with innovation

Speaking at the digital LA Blockchain Summit, Commodity Futures Trading Commission chairman, Heath Tarbert, said U.S. regulation lags behind crypto and blockchain. “I would be the first to agree with you that innovation is unlikely to come from the government,” Tarbert told interviewer Anthony Pompliano on Oct. 7 as part of an event segment on the role of digital securities in the derivatives market. Tarbert explained that the private sector often leads innovation, with regulators’ carrying the job of overseeing such advances. He added: “I see my role as a regulator as…