Polkadot is a ‘bet against blockchain maximalism’

Polkadot doesn’t have to be an “Ethereum killer” to succeed, according to protocol founder Gavin Wood.  In a “fireside chat” with podcaster Laura Shin during the Polkadot Decoded business summit on Thursday, Wood was asked whether his protocol could exist alongside Ethereum given its lofty development goals and growing success in bringing on new developers. Wood acknowledged that the blockchain ecosystem is big enough for both protocols, but said Polkadot is essentially a “bet against blockchain maximalism.” He said the narrative surrounding Ethereum today is that “there only needs to…

Caitlin Long calls on SIM swap victims to help resurrect Wyoming bill

Caitlin Long, founder and CEO of Avanti Financial, is asking crypto users and others to testify in support of a piece of legislation which could help stop SIM swap attacks.  In a tweet posted today, Long requested that any of her 70,500 followers who had been the victim of a SIM swap testify for the Wyoming legislature on Dec. 16. According to the Wyoming State Legislature website, the Avanti CEO will join members of the Select Committee on Blockchain, Financial Technology and Digital Innovation Technology online to discuss the issue…

Coinbase Custody Adds Six New Coins to Its Vault

Key Takeaways Coinbase Custody has added support for NuCypher, Curve, REN, wBTC, tBTC and DFI Money. The move will give institutional investors access to a range of assets safeguarded by Coinbase. Coinbase Custody has added a number of digital currencies recently, suggesting expansion. Share this article Coinbase has added a new batch of tokens to its custody service, as announced today on the company’s Twitter account. Coinbase Custody now supports deposits and withdrawals for NuCypher ($NU), Curve ($CRV), REN ($REN), wBTC ($WBTC), tBTC ($TBTC), and DFI Money ($YFII) https://t.co/y4NV8jgtUP pic.twitter.com/ePxLaJARIJ…

Analysts say surging Bitcoin whale inflows heighten chance of BTC correction

Since hitting a new all-time high, Bitcoin (BTC) price has been unable to flip the $19,400 level to support. This is likely due to the possibility that whales are selling aggressively in the $19,400 to $19,600 range to prevent the all-time high from being breached. Above the record high, there is little resistance until a new ceiling is achieved. Bitcoin whale inflows into exchanges. Source: CryptoQuant Whales keep selling each time BTC nears the all-time high Data from both CryptoQuant and Whalemap show that the $19,500 level is an important…

XRP Likely to Explode to $0.75 as Market-Wide Momentum Returns

XRP has been facing some intense turbulence throughout the past few weeks, but the cryptocurrency is now facing some intense consolidation as analysts await more insights into where the rest of the market will trend in the days and weeks ahead. The resistance that the cryptocurrency faces within the mid-to-upper $0.60 region is quite intense and may continue hampering its price action in the near-term. Until there’s a second wave of buying pressure that causes “legacy altcoins” like XRP to rally higher, the cryptocurrency may continue extending this bout of…

SEC’s fintech wing leaves the nest, becoming stand-alone office

Per a Dec. 3 announcement, the Securities and Exchange Commission’s fintech team will become an independent office. Initially launched in 2018 under the guidance of Bill Hinman, the SEC’s Strategic Hub for Innovation and Financial Technology, or FinHub, has been a leading force in securities regulation as it applies to new technologies since its inception. Given that the same timeframe has seen a major ramping up of the SEC’s pursuit of initial coin offerings it deemed to have been unregistered security sales, FinHub has been busy. The shift to an independent…

“Most Profitable Buy Signal” Triggers As Bitcoin Consolidates Below ATH

Bitcoin is the best investment of 2020, up more than 150% year-to-date during a year filled with more uncertainty than ever before. That same uncertainty has helped bring the cryptocurrency back to prices near $20,000. And rather than rejection and bear market this time around, Bitcoin’s most profitable buy signal ever has just triggered, suggesting that the returns from this year are just the start of what is to come. Here’s a closer look at the significance of the signal, and some theories on what potentially to expect if history…

Though centralized, a digital yuan is too big for China to surveil, says Cypherium CEO

There are technical limits to even the most technologically ambitious of central banks. So says Sky Guo, CEO of Cypherium — an enterprise blockchain platform that has partnered with a number of Chinese cities and has worked with projected central bank digital currencies. “CBDC is definitely really hot with central banks these days,” said Guo. CBDCs are all the rage this year, largely due to a surge in fiat-pegged stablecoin value and a sudden interest in upgrading non-cash systems amid the COVID-19 pandemic. But while the talk surrounding CBDCs involves…

Ripple Refutes University of Bern’s Security Findings

Key Takeaways University of Bern researchers suggest that Ripple is insecure. They say that the blockchain is prone to double spends and forks. Ripple CTO David Schwartz has made it clear that such an attack would be difficult to carry out. Share this article Researchers at the University of Bern have analyzed the Ripple blockchain and found that the blockchain is lacking in security. Ripple, however, contests those claims. Ripple Allegedly at Risk According to the Bern research team, Ripple ensures “neither safety nor liveness” under the assumptions that it…

Bitcoin is the ‘wrong price for the possibilities it has,’ says Paul Tudor Jones

Legendary investor Paul Tudor Jones has likened Bitcoin (BTC) to precious metals and other cryptocurrencies to industrial metals in terms of use case — a clear indicator of where he thinks the market is headed over the next 20 years.  In a Thursday interview with Yahoo Finance’s Julia LaRoche, Jones outlined his vision of the digital currency market over the next several decades. “I’m not an expert on Bitcoin by any stretch,” Jones said, adding: “With a market cap of $500 billion, it’s the wrong market cap in a world…