John McAfee Reiterates His $1 Million by 2020 BTC Price Prediction

In a rather haughty Tweet posted earlier today, American crypto enthusiast John McAfee wrote that he was “laughing his f—— ass off” at the concern over Bitcoin’s falling price this week. The entrepreneur went even further and reiterated his prediction that Bitcoin would reach $1 million by 2020. What has him so bullish? John McAfee Predicts Bitcoin $1 Million by 2020 Bitcoin price has fluctuated wildly in recent weeks. Unable to breach the $14,000 mark, Bitcoin topped out at approximately $13,650 and fell back below $10,000 at the end of…

Bitpoint Hacked for $32 Million, Another Example of Crypto’s Volatility

A Tokyo-based cryptocurrency exchange called Bitpoint has suspended operations after it lost $32 million to a hacking last night. The company that runs the exchange, Remixpoint, discovered that ¥3.5 billion worth of various digital currencies had disappeared under its management. Bitpoint Hacked and Suspends Operations According to the exchange, the funds went missing from a hot wallet (a wallet connected to the internet), but other funds held in cold wallets or offline haven’t been affected. The hacking was brought to light when an error appeared in the exchange’s outgoing funds…

Japanese Crypto Exchange Bitpoint Suffers $32 Million Hack

Japanese crypto exchange Bitpoint has suspended all services after losing $32 million in a hack involving XRP, Bitcoin (BTC) and other cryptocurrencies. In an official announcement on July 12, Bitpoint revealed that it had lost around 3.5 billion yen (~$32 million) — 2.5 billion yen (~$23 million) of which belonged to customers and 1 billion (~$9.2 million) to the exchange. Bloomberg reports that shares of Bitpoint’s parent firm Remixpoint Inc. shed 19% following news of the incident, and were untraded in Tokyo as of 1:44 p.m. “on a glut of…

Bitcoin Back Near $12K as BTC Shorters Lose $44 Million in One Morning

Bitcoin price (BTC) reached $12,000 on some exchanges on July 8 after a fresh uptick saw daily gains top another 6%.  Market visualization courtesy of Coin360 Data showed BTC/USD just hit its latest significant psychological level in trading at press time, having begun the day below $11,500.  On major exchanges, USD spreads meant bitcoin was yet to reach $12,000 universally, with Bitfinex the first to record the higher price point, topping out at $12,040.  Bitstamp, traditionally one of the more conservative price trackers, recorded $11,940. Bitcoin 7-day price chart. Source:…

$500 Million Spend On XRP Use Case Development

Ripple (XRP) under pressure $500 million has been spent in over 20 companies by Ripple’s Xpring. Xpring has spent over $500 million in over 20 companies. Their focus is to “build the best crypto infrastructure through contributions to open source crypto protocols such as the XRP Ledger and InterLedger projects.” Even so, XRP is under pressure and down 15.1 percent week-to-date. Ripple Price Analysis Fundamentals Adoption is the only catalyst that will turbo-charge blockchain related development. Standing to reap enormous benefits is Ripple. Armed with three innovative solutions, progress is…

$515 Million in Bitcoin Spent on Illicit Activity This Year

Recent research by Chainanalysis suggests that the amount of bitcoin (BTC) spent on illegal transactions this year could hit a record high of $1 billion, even as the ratio of illegal to legal transactions is shrinking, according to a report by Bloomberg on July 1. As per the report, the total flat value of BTC spent on illegal activity so far this year is thought to be $515 million. The research suggests that by the end of the year, this figure will double to reach $1 billion. However, the amount…

Blockchain Startups Raised $822 Million in H1 2019: New Report

Blockchain startups have raised $822 million in 279 separate venture capital (VC) deals in H1 2019, according to a report by American venture platform Outlier Ventures released on July 2. According to the research, titled “State of Blockchains Q2 2019,” 159 deals out of total 279 were seed stage ones, which shows that a sufficient number of enterprises have moved from proof of concepts in the industry, launching “fully developed open-source projects” instead. In this regard, Outlier Ventures cited the United States’ largest bank, JPMorgan, and Big Four auditor Ernst…

Crypto Exchange Bitfinex Repaid $100 Million to Stablecoin Operator Tether

Cryptocurrency exchange Bitfinex announced that it repaid $100 million of outstanding loan facility to stablecoin operator Tether in a post on its official blog on July 2. Per the announcement, Bitfinex made the repayment via wire transfer to Tether’s bank account and the amount was not yet due to be paid to the operator under the facility. Still, the exchange reportedly made the decision to complete the prepayment based on its financial position at the end of the second quarter of 2019. The post concludes: “Also on July 1st, Bitfinex…

Blockchains CEO Acquires Kirkwood Bank of Nevada for $28 million

The CEO of blockchain incubator and investment firm Blockchains LLC, has purchased a bank for $28 million, The Nevada Independent reported on July 1. According to the report, CEO Jeffrey Berns said he bought out Kirkwood Bank of Nevada in order to secure financial inclusion for Blockchains as well as other blockchain-based businesses: “Purchasing the bank was basically security for me to make sure that Blockchains and myself had access to the financial system… But secondarily, it’s to create an environment where the blockchain ecosystem, the legitimate businesses out there…

Daily Ethereum Transactions Exceed One Million, a First Since May 2018

Daily transactions registered on the Ethereum (ETH) network exceeded one million yesterday, June 28, for the first time since May 2018, according to data reported by leading Ethereum block explorer Etherscan. Per Etherscan data, on June 28 there were 1,004,170 transactions confirmed on the Ethereum blockchain. Before yesterday, the last time the Ethereum chain registered over one million daily transactions was in May 2018. Nonetheless, the current level is still notably lower than the 1,349,890 daily transactions peak registered on January 4 last year. The on-chain transaction value of Ethereum…