By CCN: The man, the meme, the legend – Alex Jones has become an ingrained part of the Bitcoin subculture in recent years, thanks to several revelations made on his flagship show Infowars. The following five “theories” offered up by Jones are controversial, conspiratorial, and, at times, contradictory. Among the supporting cast, we have Jack
Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in cryptoassets, with news and views on crypto infrastructure delivered every Tuesday. Sign up
[embedded content] Let’s talk about Bernie Sanders and his fight to raise the minimum wage but with an unexpected plot twist, Walmart agrees with Bernie Sanders. Currently, Walmart’s minimum wage is $11 an hour with an average age of $17 an hour according to Walmart but Sanders is looking to raise the $11 an hour
By CCN Markets: The bitcoin price might have slipped below $8,000 for now, but it could be headed much higher in the near future. Fundstrat Global Advisors Co-Founder Thomas Lee is willing to put it on the line for bitcoin once again, making an aggressive short-term prediction on where the cryptocurrency could be trading if
A polish cryptocurrency exchanged called Coinroom shut down on April 2, 2019, taking multiple customer accounts worth up to $15,000. The site is currently down and there is no way to contact the founders. “We don’t know how much they took,” said one user named Maciej. “But it is definitely a lot of cash.” Polish
By CCN: The crypto newswire went berserk after a research firm published a blockbuster report revealing deep-pocketed “whales” had jumped into the BTC market at the end of 2018 to take advantage of the bitcoin price dump. At that time, bitcoin had fallen 85 percent from its high. The whales knew precisely what they were doing.
Blockchain-based voting has long been looked at as a use case for the technology – but as with any nascent application, there are bumps along the way. In more recent times, the use of on-chain votes has been positioned as a way to avoid acrimonious debates over governance and, in more extreme, cases, network splits
By CCN: For a company that can’t even employ staff members capable enough to direct shoppers to the right aisle, Walmart is taking an enormous gamble asking customers to trust them to enter their homes. But that’s exactly what the Bentonville, Ark. behemoth is planning to do in a bid to take on Amazon in
Stolen bitcoins have been spotted moving on the blockchain after three years of lying dormant. In a series of transactions beginning at 06:00 UTC Friday, 172.54 BTC or about $1.37 million moved from a wallet that had previously held funds taken in the 2016 Bitfinex hack. The theft, which cost the exchange $60 million, remains unsolved. The
By CCN: After nearly 18 months of operation, the Cboe bitcoin futures market is closing for good, or at least for the foreseeable future, with the expiration of its last bitcoin futures contract on June 16. Speaking to Bloomberg, Cboe spokeswoman Suzanne Cosgrove revealed that the company does not have plans to release a new
Bitcoin trading volume on the largest US-based cryptocurrency exchange, Coinbase, hit the highest amount seen in 14 months in May. During the month of May, Coinbase facilitated the trade of 738,959.42 BTC — worth approximately $5.9 billion at current market prices — according to data from Bitcoinity. This development marks the exchange’s highest level of
Bitcoin ATMs have become “an ideal money-laundering vehicle,” according to the Vancouver Police Department, prompting a proposed city-wide ban by the mayor, and potential federal legislation, The Star reports. The 76 machines within the city limits have come under police fire twice already this past year due to perceived regulatory issues. Though, most recently in
The Reserve Bank of India is denying any knowledge of a proposed ban on cryptocurrencies — despite reports that a number of governmental agencies have backed the draft legislation — according to a Right to Information request filed on June 4. Varun Sethi, a lawyer specializing in blockchain, filed the inquiry into the RBI’s involvement
May was the best month for derivatives giant CME’s bitcoin futures volume since its 2017 launch, as nearly 300,000 contracts were traded in the 31-day period. Average daily volume (ADV) reached more than 13,600 contracts, equal to $515 million notional value or 68,000 equivalent bitcoin, up 27 percent when compared to the month of April.
By CCN: The Dow overcame a worrisome jobs report to grind higher on Friday, as the US stock market plowed ahead toward its best week since November 2018. However, one hedge fund legend warns that if Donald Trump fails to mount a successful reelection campaign, his successor could trigger a brutal 40% stock market crash.
By CCN: According to local reporting, Facebook’s Global Coin might soon be used to value barrels of oil, according to one wide-ranging article about the impact of technology on the Russian economy. Warning that further American dominance in technology will likely lead to increased sanctions and other problems for Russia, including trade and tariff imbalances.
The Takeaway Coming guidance from the IRS will address longstanding questions about the tax treatment of cryptocurrency. The tax collector has identified several specific issues it will discuss, including whether investors owe taxes on free crypto they get from a fork. The industry is also hoping for clarity on a number of other matters, including
By CCN: Bitcoin fans are wistful after learning that the pro-crypto CFTC chairman Christopher Giancarlo is stepping down on July 15. The U.S. Senate confirmed Giancarlo’s successor, Heath Tarbert, by a vote of 84 to 9. Heath Tarbert was confirmed as the new CFTC chairman by a vote of 84 to 9. | Source: Senate.gov
Crypto exchange Poloniex revealed in a post Thursday that lenders in its bitcoin margin lending pool suffered a loss of 1800 BTC — roughly $13.5 million at current market prices — due to a flash crash in the Clams (CLAM) market on May 26. Poloniex’s peer-to-peer margin system includes both lenders and borrowers, the lenders
Jason Leung, global head of Cumberland, the cryptocurrency-focused unit of Chicago-based trading giant DRW, is leaving the firm. He will be replaced by Chris Zuehlke, formerly chief technical officer at Cumberland, who has been employed with DRW for some 15 years. A spokesperson for DRW Holdings told CoinDesk: “We are grateful to Jason for all
BlockState issues tokenised equity in Swiss regulated Security Token Offering (STO). The issuance opens safe, regulated access to BlockState equity for institutional, professional and retail investors globally. The STO shows the functionality and advantages of digital asset issuance for SMEs looking to access capital markets. Berlin, 06.06.2019: The Swiss security tokenisation provider BlockState has announced that
Social media giant Facebook is said to reveal its own cryptocurrency later this month. According to a report from The Information on Wednesday, Facebook is poised to unveil its cryptocurrency to the public later in June, which is aimed to allow users to process transactions via the social media channel, and will be offered to Facebook employees who
By CCN: The “crypto” startup Longfin Corp. got spanked by both the SEC and the DOJ for fraud amid a broader regulatory crackdown on bitcoin-related financial crimes. Specifically, Longfin’s CEO, Venkata Meenavalli, is accused of inflating the company’s revenue by $66 million in order to fraudulently secure a listing on the Nasdaq in 2017. Prosecutors
The folks that sell gold are a bit upset by Grayscale’s Drop Gold advertising campaign. In particular, GoldMoney.com, is going to great lengths to convince the investing public that the yellow metal is “superior” to bitcoin, not the other way around as the Grayscale ads claim. The precious-metals company has created an infographic and white
By CCN: The stock market has officially exited its mid-year slump. The Dow Jones surged more than 500 points on Tuesday. It added more than 200 points to the tally today. The S&P 500, meanwhile, has climbed nearly four percent from its recent low. This massive reversal in sentiment came about as the Fed has
The world has seen both hot and cold storage but now one company is bringing “chill storage.” ZenGo, a Tel Aviv-based firm, is promising the first non-custodial wallet without private keys, points of failure, or passwords, all with a custodian-grade experience. Following last years’ $4 million in seed funding from Samsung, Benson Oak, and Elron as
By CCN: Bitcoin is pulling back sharply as investors and traders alike look to consolidate cryptocurrency gains in 2019. One indicator, however, suggests that the selling pressure isn’t over yet. The VERA Convergence-Divergence signal is a Bitcoin volatility indicator that’s flashing warning signs. Is it time to sell Bitcoin yet? Source: Bloomberg. As Bloomberg reports,
The U.S. Securities and Exchange Commission has sued messenger app maker Kik for its $100 million ICO – which the agency contends was an unregistered securities sale – and the regulator appears to have built up a strong case in its initial court move. In a complaint filed Tuesday, the SEC alleged that Kik violated federal
By CCN: Despite today’s 2% rally in the stock market, critical support levels have been breached that may signal the beginning of a 50% market decline. The Stock Market Is Falling Apart With the stock market trading at its third most expensive level in history, led by outrageously overvalued FANG and growth stocks, it’s only
When Kik’s board of directors decided to support the company’s pivot to crypto, one of the board members described it as a “hail Mary pass.” It was early 2017 and the Canadian mobile messaging startup, having depleted its venture funding, was months away from firing everyone and calling it quits. The seven most promising leads