Wednesday, February 20, 2019

$8 Billion Coinbase Faces Backlash for Latest Acquisition

Bitcoin exchange giant Coinbase has acquired Chainalysis competitor Neutrino in an effort to enhance its compliance efforts and regulatory relationships. Neutrino uses blockchain analytics to identify potential money laundering or other illegal transactions on the blockchain. Until its acquisition, it was one of a few companies growing in the space of analyzing blockchains. Its work mainly benefits crypto exchanges, regulators, and other centralized powers. According to Coinbase, companies like Chainalysis, Whitestream, and Elementus are “necessary” in an “open financial system.” “Blockchain intelligence is increasingly important in the crypto ecosystem, and is necessary to achieve our mission of bringing the open financial

Crypto Expert Warns Not to Trust the Bitcoin Rally

The bitcoin price has not bottomed yet, but it’s close — and the sooner it tanks, the better. That’s the assertion of Alex Sunnarborg, a founding partner of New York crypto hedge fund Tetras Capital. “Calling is very difficult,” Sunnarborg told Forbes. “That’s part of the reason I’m really thankful that we’re in the position we are right now. “We can hedge ourselves, remain more neutral, and not have to call that exact price or timing bottom. I’m not confident right now. Our portfolio is relatively neutral. We have cash and short positions.” Sunnarborg Prefers Scorched-Earth Approach Sunnarborg

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Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship

A recent report published by the Bank of Spain states that Bitcoin is a solution for the creation of a system without censorship. This...

Billionaire Bitcoin Bull Tim Draper Has a Wild 5-Year Prediction for Cash and Crypto

Tim Draper has been one of Bitcoin’s most enthusiastic proponents. He was steadfast in his optimism even when other finance gurus thought he was crazy for giving the new-fangled crypto the time of day. Forgetting about the naysayers, Draper became about $89 million richer for sticking to his Bitcoin guns. He was steadfast while others, including JP Morgan CEO Jamie Dimon, made jokes about Bitcoin being tulips. FOMA, or simply recognizing the staying power of cryptos, JP Morgan shocked the financial community this month when it announced it would be the first major institutional bank to release its own cryptocurrency.

Funds in Short Positions on Bitcoin Drop to 6-Month Low

The amount of money allocated to short bets against bitcoin fell to a more than 6-month low today.

Top Ethereum Developer Afri Schoedon Just Rage-Quit

Afri Schoedon, a long-time Ethereum contributor, abruptly quit working on the second-largest cryptocurrency. A few days ago, Schoedon tweeted a meme that said “Polkadot delivers what Serenity ought to be. Change my mind.” The meme raised ire on Reddit, and the situation devolved from there until the developer quit early this morning. I did not quit social media, I quit Ethereum. I did not go dark, I just left the community. I am no longer coordinating hard-forks, building testnets, or contributing otherwise. I did not work on Polkadot, I never did, I worked on Ethereum. I did not hate Ethereum,

Amazon’s Flailing China Unit Plots Major Merger to Challenge Alibaba

Talks are underway to merge Amazon’s Chinese venture with NetEase-owned Kaola, according to business publication Caijing. Kaola is a Chinese e-commerce firm which specializes in selling imports. The business publication added that an agreement had been inked late last year amidst difficult negotiations. NetEase is listed on the Nasdaq and boasts a market cap of slightly over $30 billion. Besides Kaola, the Chinese tech giant also develops internet content, including games for personal computers and mobile devices. Amazon China Chooses to Compete in a Niche Rather than Target Alibaba Directly Currently, Kaola is the biggest Chinese e-commerce firm that deals

Why Nasdaq’s Bitcoin Index is a Bigger Deal Than Most People Realize

On February 11, Nasdaq, the world’s second-largest stock exchange, launched Bitcoin and Ethereum indices to present accurate prices of the two leading crypto assets. Nasdaq’s Bitcoin Index a Likely Precursor to Crypto Investment Products According to cryptocurrency analyst Alex Ziupsnys, the introduction of the crypto indices of Nasdaq could lead to the approval of a wide range of investment vehicles in the long-term. The analyst said: “NASDAQ to add a bitcoin index on its platform. They are reading the writing on the wall and don’t want to get left behind. There is no stopping this. Adoption happens gradually right in

Walmart Stock Surges on Blowout Earnings, Dow Ain’t Biting

The Dow and U.S. stock market were stuck in neutral on Tuesday despite a blowout earnings report from Walmart, a sign that traders were treading more cautiously ahead of a slew of macroeconomic indicators later in the week. Dow Struggles for Direction Wall Street’s benchmarks traded tepidly through the morning session, mirroring a relatively uneventful pre-market for Dow futures. The Dow Jones Industrial Average opened 34 points lower. It was last seen trading at 25,923.31, having gained 40 points, or 0.15%. The broad S&P 500 Index nudged up 0.1% to 2,778.03, having erased an earlier drop. Six of 11 primary

Donald Trump Just Got Snubbed by UK, Germany in Plan to Block Huawei from...

Bad news for Donald Trump as Britain and Germany won’t be joining the United States in its crusade to crush Huawei’s operations, but they do need guarantees from the Chinese firm. It seems both countries are not interested in getting caught in the dispute between the U.S. and China. Washington and Beijing are fighting for something much more than just economic supremacy. The tensions have boiled over into a trade war that has continued to rage on till this day, with things set to get worse if the March 2 deadline for negotiations elapses and no resolution is reached by the

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