SEC Chair Clayton: Safeguards Don’t Exist in Digital Currency Markets

SEC Chairman Jay Clayton relayed a mixed message to the crypto community during a conversation with Glenn Hutchins, founder of private equity firm Silver Lake Partners at the Coindesk Consensus Invest conference yesterday. Speaking in a personal capacity, Clayton praised blockchain – bitcoin’s underlying technology – and said that the technology had “incredible promise” for infrastructure in financial markets, beyond securities. But he also expressed … Continue reading SEC Chair Clayton: Safeguards Don’t Exist in Digital Currency Markets

More Turmoil For Bitcoin Price

After crashing by more than 13% in a couple of hours last Friday, bitcoin price collapsed below the $5,000 price mark, testing the edges of a further bottom in its price. As of this writing, it is changing hands at $4,908.93, down 12% from its price 24 hours ago. The latest slide in bitcoin’s price means that it is now down by 63.4% from its … Continue reading More Turmoil For Bitcoin Price

Education Is Number One Problem For Bitcoin: Rolf Haag From BitPay

“If you are in fintech, you need to be paying attention to this space,” says Rolf Haag, who recently joined BitPay, a bitcoin payments company, as its head of business solutions. Having previously worked at Western Union and PayPal, Haag has extensive experience in fintech and describes his new assignment as “ground zero” for cryptocurrency adoption. “I am seeing how ancient small businesses are indeed … Continue reading Education Is Number One Problem For Bitcoin: Rolf Haag From BitPay

Bitcoin Price And Crypto Markets Continue Plunge

And they all fall down. Bitcoin price, which tumbled to its lowest price for this year yesterday, fell further this morning and the cryptocurrency’s valuation crashed to below $100 billion for the first time since the end of October last year. Cryptocurrency markets fell in tandem with bitcoin price. As of this writing, they are valued at $184 billion. The last time their valuation hit … Continue reading Bitcoin Price And Crypto Markets Continue Plunge

Bitcoin Price Crashes To Lowest This Year

Just when traders were complaining that bitcoin price had become boring, the cryptocurrency crashed by 13% in less than five hours this morning. The crash marked a sudden change of course for bitcoin price, which had mostly stayed constant within the $6200 price range during the last week or so. Bitcoin’s volatility had reached record lows in the last couple of months, much to the … Continue reading Bitcoin Price Crashes To Lowest This Year

Should You Trade Bitcoin Through An IRA Account?

Bitcoin IRAs were among the earliest financial instruments to incorporate bitcoins. But they have received a mixed reception since introduction. Proponents point to the tax benefits of trading using an IRA. Bitcoin trades typically incur a capital gains tax because the IRS has classified the cryptocurrency as real estate. Using a self-directed or Roth IRA, you can defer tax on such trades until a full … Continue reading Should You Trade Bitcoin Through An IRA Account?

Why Are Crypto Prices High? New Research Says Shorting Capability Is Key

The rally in cryptocurrency prices in the last three years has been as incredible as it has been mysterious. Without an established framework for valuation, forecasts for cryptocurrency prices have become anyone’s game. Rookies and experts have pontificated about and forecast future cryptocurrency prices. But none has proven correct. A recently-released paper by a researcher at a business school in Australia has an explanation for … Continue reading Why Are Crypto Prices High? New Research Says Shorting Capability Is Key

Is Bitcoin Price Headed For A Rally Soon?

After an incredible rally in its prices last year, bitcoin has slumped for most of this year amid growing criticism of its unsustainable valuation and limited capabilities. The original cryptocurrency crashed to a decline of more than 70% from its price at the beginning of this year. But a turnaround in its price may be in the works and bitcoin may be revving up for … Continue reading Is Bitcoin Price Headed For A Rally Soon?

Former PayPal And Western Union Executive Joins Bitcoin Payments Processor BitPay

Atlanta-based payments firm BitPay has hired former PayPal and Western Union executive Rolf Haag as Head of Business solutions. Haag’s job will be to beef up the company’s business in the small business space. Haag has extensive experience in the payments space, including in developing solutions for SMEs. More recently, his managerial positions have involved integrating financial technology into legacy systems at companies. His former … Continue reading Former PayPal And Western Union Executive Joins Bitcoin Payments Processor BitPay

Tether’s Loss Last Week Meant Gains For Other Stablecoins

For an asset often touted as reliable in a volatile cryptocurrency market, stablecoins have been remarkably unstable in the last week. First, there was the problem with Tether. The stablecoin, which is the second-most traded cryptocurrency after bitcoin and accounts for 98% of daily trading volume in stablecoins, crashed last weekend as investors, fearful of Tether’s stability after news reports questioned Bitfinex’s solvency emerged, began … Continue reading Tether’s Loss Last Week Meant Gains For Other Stablecoins

Fidelity Announces Cryptocurrency Offerings For Clients

The big boys are coming to play in cryptocurrencies. Asset management giant Fidelity Investments yesterday announced its entry into the cryptocurrency ecosystem with Fidelity Digital Assets – a new service aimed at institutional investors. The new business will provide three offerings to customers – custody solutions for coins, cryptocurrency trade execution through matching of counterparties, and customer service for bitcoin and ethereum’s ether. The Boston-based … Continue reading Fidelity Announces Cryptocurrency Offerings For Clients

Why Did Tether’s Price Crash Over The Weekend?

The price for Tether, the dollar-pegged stablecoin at Bitfinex, crashed over the weekend as investors fearful about its reserve deposits, sold the coin. The extent of damage to Tether’s price varied across various cryptocurrency exchanges from five percent to more than thirteen percent. According to some reports, Tether’s price dropped to $0.85 at Kraken, a prominent exchange. (Since Tether is a stablecoin, its price typically … Continue reading Why Did Tether’s Price Crash Over The Weekend?

Bitcoin Whales May Not Be Responsible For Price Volatility

Since it came to public attention, bitcoin has made as much news for the volatility in its prices as for its scandals. Thin liquidity volumes in bitcoin markets mean that it’s prices can be easily manipulated through large trades. Market players responsible for these large trades are known as bitcoin whales because they hold large stashes of the cryptocurrency. They have been blamed for the … Continue reading Bitcoin Whales May Not Be Responsible For Price Volatility

Bitcoin Price And Crypto Markets Crash After Global Equity Selloff

In a move that mimicked the equity selloff in stock markets around the globe yesterday, bitcoin price crashed by as much as 6% in less than two hours this morning. Major coins, such as Ripple’s XRP and Ethereum’s ether, followed suit and cryptocurrency markets crashed by almost 11% in the same timeframe. In monetary terms, the declines translated to a decline of $13 billion. Since … Continue reading Bitcoin Price And Crypto Markets Crash After Global Equity Selloff

Bitwise Adds Ric Edelman As Advisor; Sees Shift In Client Mix Due To Crypto Market Downturn

In a major win for the company, Bitwise Asset Management announced that Ric Edelman, founder of Edelman Financial Services, has invested in and become an advisor to the firm. Bitwise launched the world’s first cryptocurrency index fund last year and has also filed for a bitcoin ETF. Edelman Financial Services is among the largest independent financial advisory firms in the country and has been ranked … Continue reading Bitwise Adds Ric Edelman As Advisor; Sees Shift In Client Mix Due To Crypto Market Downturn

Republic Protocol Launches RenEx – A Decentralized Dark Pool For Cryptocurrency Trading

Up until now, the increase in cryptocurrency trading volumes is said to be largely driven by retail investors. This has led to wild price swings and volatility. As institutional investors and hedge funds enter cryptocurrency markets, however, decentralized dark pools are expected to mop up a portion of the existing trading volume at cryptocurrency exchanges. Dark pools are trading venues for holders of large institutional … Continue reading Republic Protocol Launches RenEx – A Decentralized Dark Pool For Cryptocurrency Trading

TD Ameritrade Invests In ErisX, A New Crypto Exchange

Brokerage firm TD Ameritrade has invested in ErisX, a new cryptocurrency platform for spot trading and derivatives products. ErisX is led by Citigroup trading veteran Thomas Chippas. The company’s first product, which is a spot trading exchange, will be released next year. The company will offer bitcoin, bitcoin cash, ethereum, and litecoin to the investing public. It will also offer bitcoin futures contracts that are … Continue reading TD Ameritrade Invests In ErisX, A New Crypto Exchange

Bitcoin’s Pivot From Retail To Wire Transfers For Small Businesses

The promise of bitcoin as a medium for daily transaction may take time. Meanwhile, the cryptocurrency has found use as the preferred means for wire transfers at small businesses. “At this point, there’s a strong business case for cryptocurrencies to displace wire transfers because they are outdated and take way too long,” says Jared Silver, president of Stephen Silver, a jewelry store located in Silicon … Continue reading Bitcoin’s Pivot From Retail To Wire Transfers For Small Businesses

Why Did The Price For Ripple’s XRP Jump Over The Weekend?

For most of this year, the price for Ripple’s XRP has trended downward. Towards the end of 2018’s first week, XRP price reached a high of $3.54 and a market cap of $137 billion. But its price cratered soon after in the swoon that enveloped cryptocurrency markets as media reports and crypto experts questioned XRP’s utility within the Ripple ecosystem. Until last week, XRP’s price … Continue reading Why Did The Price For Ripple’s XRP Jump Over The Weekend?

Cryptocurrency Exchanges Are Adopting New Tactics To Make Money

When the going gets tough, the tough charge more. Or so it would seem from a recent Bloomberg article about cryptocurrency exchanges, which have resorted to unconventional tactics to shore up trading volumes and fees. The story lists three business tactics being used by exchanges to make up for decline in revenues. Here’s a short description of each: High Fees The law of supply and … Continue reading Cryptocurrency Exchanges Are Adopting New Tactics To Make Money

Cryptocurrency Markets Eke Out Gains In A Mixed Week

Going by news headlines, it would seem that the news was all gloom and doom this past week. But that assessment may not be true. As the chart shows, however, the top 10 cryptocurrencies managed to eke out gains even in the face of downward pressure. Bitcoin flirted with $5,000 territory this past week, when it dropped to $6190 on Tuesday. But the original cryptocurrency … Continue reading Cryptocurrency Markets Eke Out Gains In A Mixed Week