River Financial Wants to Be the Bitcoiner’s Charles Schwab

Ever since he read the Denationalization of Money by Friedrich Hayek in college, Alex Leishman, the co-founder and CEO of River Financial, had been on the search for an alternative currency. The aerospace engineer major turned amateur Austrian economist wanted to build a financial institution around this yet-to-be-found, nongovernment-issued money. Leishman thought the banking-free option explored in Hayek’s work would manifest in the form of a multi-commodity-backed currency. It wasn’t until he discovered bitcoin in 2013, through a web development course on Coursera taught by Balaji S. Srinivasan, that he…

Binance Debuts Euro Pairs as CZ Says 180 Fiat Currencies Set for 2020

Cryptocurrency exchange Binance has confirmed it will offer euro (EUR) trading against six cryptocurrencies in the platform’s latest fiat expansion. In a blog post on Jan. 3, Binance confirmed trading for EUR pairs would begin at 8am the same day. Users will be able to trade EUR against Bitcoin (BTC), Ether (ETH), XRP and Binance Coin (BNB). Binance will also support trading against two stablecoins: Tether (USDT) and its own U.S. dollar-backed token, Binance USD (BUSD). Euro not just for Binance Jersey The move follows on from the addition of…

Pantera Partner Paul Veradittakit’s Crypto Predictions for 2020

This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Paul Veradittakit is a partner at Pantera Capital, focusing on venture capital and hedge fund investments. Pantera Capital is one of the earliest and largest institutional investors in digital currencies and blockchain technologies, managing over $500 million. 2019 has been an incredible year for the blockchain and cryptocurrency space – we’ve been through immense market fluctuations, regulatory battles and financial scandals, Senate hearings, and…

Bitcoin and Oil Rally as US Kills Iran’s Top General in Air Strike

In a stunning turn of events, Bitcoin (BTC) price swiftly reversed course and rallied 6.4%, reclaiming ground lost over the last 24-hours and briefly topping $7,288 before pulling back to $7,200. Global oil prices have also rallied by nearly 3% in the wake of an airstrike at Baghdad’s airport ordered by United States President Donald Trump that has reportedly killed the head of the Iranian Revolutionary Guards’ elite Quds Force, General Qasem Soleimani. Cryptocurrency market daily overview. Source: Coin360 Market analyst Michaël van de Poppe meanwhile reacted to the news…

Electra Pilots Blockchain-Based Financial Management System – Can It Compete?

Electra (ECA), the open-source Proof-of-Stake (PoS) blockchain project focused on digital payments, will begin beta testing its flagship product this month.  Known as “ElectraPay,” the product functions as a financial management system that will let merchants adopt a cryptocurrency payment method that doesn’t require third-party service providers, banks, or credit card companies to complete transactions.  Electra board member and coordinator Robert Bakker told Cointelegraph that ElectraPay is a management solution that lets e-commerce providers accept Electra’s ECA cryptocurrency via a Woocommerce plugin for WordPress.  “ElectraPay is a management solution which…

Coinbase CEO Brian Armstrong Rounds Up the Decade in Crypto

Coinbase CEO Brian Armstrong published a Medium post on Jan. 2 sharing his thoughts on how the crypto space has progressed over the last ten years.  Armstrong’s post, inspired by Fred Wilson’s article on technology over the past decade, begins with Bitcoin. Armstrong noted that the leading cryptocurrency hasn’t failed once in its birth ten-year history. Despite any doubt about Bitcoin’s survival, Armstrong pointed out that the digital currency has actually thrived. “There were over 379 articles written, prematurely declaring the end of Bitcoin. Not only did Bitcoin survive, it thrived,…

South Korea Drafting Legislation To Tax Individual Crypto Profits

Cryptocurrency and taxation laws are creating a great deal of confusion in South Korea. On Dec. 30, South Korea’s government stated that under current law, it cannot impose income taxes on individuals’ profits from transactions of cryptocurrency. This, however, contrasts with the National Tax Service’s recent imposition of an 80 billion won ($68.9 million) tax bill on local crypto exchange Bithumb Korea. On Dec. 29, The Korea Herald reported that South Korea’s local tax agency received 80 billion won ($68.9 million) in taxes from the exchange. The following day, Choi…

Another Year of Highs and Lows for Crypto

2019 may not go down as a year of breathtaking highs for cryptocurrency markets, but major strides have been made for mass adoption of digital payments and blockchain technology. A quick look at major headlines over the past 12 months highlight the shortcomings of the sector as well as the potential for cryptocurrencies to completely shake up the global payment system. One need look no further than social media giant Facebook announcing plans to launch its cryptocurrency Libra and digital wallet Calibra. The move sent shockwaves around the world and…

Mining Giant Bitmain May Lay Off Another 50% of Staff Before BTC Halving

Cryptocurrency mining giant Bitmain reportedly has plans to reduce its workforce by another fifty percent. On Dec. 2, Chinese news media outlet Wushuo Blockchain reported that Bitcoin (BTC) mining rig maker Bitmain has launched a “personnel optimization plan” that will layoff a significant portion of its employees before the next BTC halving, which is expected in May. The world’s largest producer of cryptocurrency mining machines will reportedly hold an annual meeting on January 17, and it is expected that the layoffs will have been completed before that date.  People familiar…

Bitcoin Price Falls Below $7K But Bears Yet to Break Key Support Level

Today, Bitcoin (BTC) price abruptly dropped below the $7,100 support, declining 3.35% to rest near $6,900.  For the past few days, Bitcoin price traded between $7,300 and $7,100, testing the $7,100 and $7,050 support multiple times. Therefore, for many traders, it was no surprise when the price fell below $7,100 as frequent retests of support weaken it. BTC USD 6-hour chart. Source: TradingView It’s likely that traders anticipate a bounce at $6,800 and many will watch to see if the $7,100 support flips to a point of resistance. On the…