After months of bearish action, the Bitcoin price on Monday soared above $7,000 within a matter of hours. BTC/USD bounced from $6,269 earlier today to establish fresh highs towards $6,950, according to CoinMarketCap, adding approximately $9 billion to its market cap. On some exchanges, including Hong Kong-based BitFinex, the pair skyrocketed above $7,000. Weak USDT…
Since the establishment of the first crypto-to-fiat platform, exchanges have been subject to intense scrutiny from banks, regulators, and most importantly, the consumers and investors themselves. Despite its veteran status in this nascent industry, Bitfinex isn’t exempt from this scrutiny, as a few too many controversies have rocked the Hong Kong-based startup over its near-six-year history. Reports…
One of the most popular cryptocurrency products being released in 2018 are stable coins, which widely market themselves as having all the benefits of cryptocurrencies, minus the volatility. Despite seeming like a practical product, some critics claim that they pose too many problems to ever be widely adopted. Controversy Surrounding Tether Sparks Frenzy The stable…
Boston-based Circle Internet Financial Ltd., creator of the popular retail crypto trading app Circle Invest, has announced that it’s following the lead of other exchanges by launching its own U.S.-dollar backed stablecoin. USD Coin: Circle Introduces New Dollar Backed Stablecoin The Goldman Sachs-backed Circle announced the move just days after revealing that new assets were…
A Queensland Univerity professor has attempted to debunk the theory which accused stablecoin Tether issuance model of manipulating the Bitcoin value. Tether Not Responsible In his report, Dr. Wang Chun, Ph.D., Finance, discussed how he constructed a Vector Autoregression, or VAR, model to prove that Tether never played a catalyst to Bitcoin’s super-normal rally towards…
Grandshores Technology Group, a Hong Kong-based public blockchain investment company, is planning to raise $12.7 million through a digital token fund in an effort to finance a yen-backed cryptocurrency project. More Stable Coins Into The Crypto Pot Grandshores Technology was initially a contracting company that pivoted to the blockchain industry after being acquired by SHIS,…