Bitcoin whitepaper fight could end up in court as both parties escalate drama

The unfolding drama surrounding the ownership of the Bitcoin (BTC) whitepaper could very well make its way to the courts, after both sides embroiled in the dispute told Cointelegraph they’re ready to “go all the way.” On Jan. 21, the owners of two Bitcoin websites were threatened with legal action by lawyers representing Craig Wright, the man who claims to be Bitcoin inventor Satoshi Nakamoto. Wright claims to be the original copyright holder of the Bitcoin whitepaper, and demanded that both sites remove their locally hosted copies of the document…

As DeFi booms, Ethereum’s blockchain competitors are catching up

Ethereum is not the only blockchain platform seeing a significant increase in value as the decentralized finance space continues to move in tandem with the booming cryptocurrency ecosystem. The new year has continued to be good to the DeFi space, evident in the sheer amount of value that has been injected into various platforms. The value staked in DeFi protocols briefly surpassed $27 billion on Jan. 20, according to DappRadar, driven in part by the increase in value of a large majority of cryptocurrency tokens. Nevertheless, the space has seen…

Bitcoin becoming a cyclical asset, not a hedge, according to JPMorgan strategists

The Bitcoin (BTC) bull market has put the flagship cryptocurrency on par with cyclical assets as opposed to a hedge against market stress, according to analysts at JPMorgan Chase.  JPMorgan strategists John Normand and Federico Manicardi say anyone betting on Bitcoin as a portfolio diversifier is putting themselves at risk. In a Thursday report obtained by Bloomberg, the strategists called Bitcoin the “least reliable hedge during periods of acute market stress.” They added: “The mainstreaming of crypto ownership is raising correlations with cyclical assets, potentially converting them from insurance to…

NYDFS hosts crypto industry competition to get real-time data on Bitlicensees

New York’s financial regulator is asking for new tools to gather real-time financial data.  On Thursday, the New York Department of Financial Services announced new details of its coming “techsprint” competition: “The objective of the techsprint is to achieve creative and collaborative prototyping as a step toward smarter regulatory reporting in virtual currency.” Namely, the DFS is using the two-week competition to get better access to data from crypto companies in real time. It’s first question reads: “How can DFS achieve real-time or more frequent access to company financial data…

Banks seem prone to cryptophobia despite growing adoption

From refusing to bank crypto trading desks to closing accounts held by platforms, the mainstream financial sector appears to be putting up roadblocks to seamless cryptocurrency commerce. Without banking support, exchanges are often forced to depend on other fiat on-ramps to service the deposit and withdrawal needs of their customers. The apparent discrimination against crypto exchanges also goes beyond the refusal of banking services. In countries such as South Korea, banks have increased the level of scrutiny involved in renewing operating licenses for platforms. The cost of compliance for these…

Top Russian bank Sberbank plans to launch its stablecoin by spring 2021

Sberbank, the largest state-owned bank in Russia, has reportedly filed an application with the Bank of Russia to launch a blockchain platform for its “Sbercoin” stablecoin. Sergey Popov, director of the transaction business at Sberbank, announced the news on Jan. 21 at a local financial event Russian news agency Interfax reports. At “Digital transformation and prospects for regulating the digital economy,” Popov said that Sberbank applied with the central bank in early January, explaining that the registration procedure usually takes no longer than 45 days. As such, the bank may…

Is Bitcoin headed for a deeper correction? Watch these levels if $30K breaks

Bitcoin (BTC) has seen a massive surge in the past two months, in particular, as institutions jumped into the new asset class. The latest is Blackrock,  announcing interest in trading in Bitcoin futures while Grayscale continues to scoop up BTC at an accelerating pace.  Total amount of BTC held by Grayscale Bitcoin Trust. Source: CryptoQuant However, after a massive surge, the asset’s price has to come down for some tests of support as investors take profit. This is the beautiful cyclical nature of supply and demand. BTC/USD is currently in a…

Older investors are getting into crypto, new survey finds

Older generations have started recognizing the potential of cryptocurrencies and blockchain in global payment systems, a new survey says. On Jan. 21, digital payment platform Wirex released a special report devoted to the topic of cryptocurrency adoption in 2021. Compiled in partnership with the Stellar Development Foundation, the report includes survey results from 3,834 people across 89 countries, aiming to understand the latest trends in the global adoption of blockchain-powered digital payments. The survey was conducted over the course of three weeks, with both Wirex and the SDF sending out…

Early Ether investor sells all his ETH, plans to buy parents a house

A Redditor named “u/FollowMe22”, 27, says he has finally sold off the last of his Ether (ETH) stash acquired back in 2016. According to the Reddit post, he began buying ETH back in 2016 when the price was slightly above $2, adding: “I put my whole tax return in 2016 and threw a couple hundred at it whenever I could. I didn’t buy a car and biked to work to save money. I remember at the time thinking there was about a 1/3 chance it would 100x, so there was…

Why secure data tokenization should scare the hell out of Big Data

Data is becoming one of society’s most valuable resources. And yet, our existing approaches fail to unleash its massive intrinsic value. Why is this the case? The issue is that our data — who we are, and what is relevant about us — is defined and collected by corporations and governments. Consumers were alarmed to find their ​phones were being tracked by the government​, for example. These organizations, whether private or governmental, seem interested primarily in using your personal identity and your data streams to enhance their power. If you…