Bitfinex and Tether Ask Court to Loosen NYAG’s Fund Restrictions

Tether has asked a judge for more leeway to use its cash amid the New York Attorney General’s investigation of the stablecoin issuer and affiliated crypto exchange Bitfinex. According to new court documents filed Monday, the attorneys for each side failed to come to a consensus on what, precisely, Tether should be allowed to do with its holdings. The NYAG’s office wants to prevent “any affiliated entity” from touching funds in Tether’s reserve and a 90-day injunction. On the other hand, attorneys for Tether and iFinex, the parent firm of Bitfinex,…

Cryptocurrency Mainstream Adoption | Is Ebay the Answer?

Are we on the verge of mainstream adoption for digital currencies? The list of companies accepting payment in Bitcoin is steadily growing and now one of the biggest e-commerce sites is hinting at joining that list. Global e-retailing giant, Ebay, has stirred rumors via its latest promotional adverts. Let’s check this out. Mainstream Adoption – Ebay to Support Digital Assets? At the Consensus conference in New York, Ebay’s banners suggested the company is about to enter the cryptocurrency space. In a photo leaked on Telegram channel @PatronsOfTheMoon, the two banners read…

Bitcoin (BTC) Clears $7,500, This Is Just the Beginning–Mati Greenspan

Bitcoin (BTC) surge, up 34 percent Mati Greenspan confident that Bitcoin prices will surge to new highs as momentum builds up Prices may correct, that’s a possibility. However, unlike the deep correction of 2018, there is increasing awareness around Bitcoin and cryptocurrency in general. That is perhaps the reason why Mati Greenspan of Etoro is confident that BTC is in the early stages of a humongous bull rally in waiting. Bitcoin Price Analysis Fundamentals It’s all about price and ROI, and if that is the metric for gauging success, then…

Samsung, JP Morgan—Microsoft are Ethereum (ETH) Primers, Next $250?

Ethereum (ETH) up 21.7 percent The platform is way ahead of competitors and could replace Bitcoin as a store of value Mike Novogratz is an experience institutional investor is positive on Ethereum (ETH) saying that the platform is “way ahead.” His comments mirrored our previous assertion and reflected on the level of on-chain development gauged from the number of monthly active developers. In a bullish breakout pattern, it is likely prices will expand towards $200 and $250 in days ahead. Ethereum Price Analysis Fundamentals In the race to superiority, Ethereum…

Important Reaction of Ripple (XRP) From Q1 2019 Lows, Add 6.4 Percent

Ripple (XRP) react from 30 cents, add 8.1 percent Supportive fundamentals would likely fan the next wave of higher highs At long last, Ripple (XRP) is responding. Because of bullish fundamentals, there are a series of higher highs in the daily chart that hint of increasing demand in lower time frames. All the same, it is until prices print above 34 cents that traders can begin loading on dips with ideal targets at 80 cents. Ripple Price Analysis Fundamentals To reiterate, cryptocurrencies must find their way main-street if investors want…

Institutional Demand Pumped Bitcoin Price This Week

It was institutional buyers that pumped the bitcoin price by 23 percent last week, according to a prominent cryptocurrency analyst. Alex Krüger said the latest bitcoin price action hinted systematic buying, an act of people pooling their strategy to purchase a financial asset in large volumes. Retail investors lacked the capital that could pump the bitcoin market capitalization by approx $32 billion in a week. So, it was very likely that a “handful of large players” initiated a coordinated pump, and bitcoin’s valuation rose wildly. “Clues to reach that conclusion…

PAX Streamlines Redemptions in Battle for Stablecoin Market Share

Most crypto companies avoid comparisons to traditional banks. But Chad Cascarilla, CEO of the stablecoin issuer Paxos, welcomes the analogy. “It’s akin to a bank account,” Cascarilla said, describing the new integration of Paxos wallets to the sister company itBit, a crypto exchange. “It has the look and feel in part of a bank account, in part of a custody account.” As part of this new user interface, Paxos accounts now allow users to instantly redeem PAX dollar-backed stablecoins, which were previously only redeemable a few hours a day. The…

CoinGecko Unveils Exchange ‘Trust Score’ to Fight Fake Volume Data

Crypto market data aggregator CoinGecko has a unveiled a new “trust score” for its system of ranking exchanges. The score will use a combination of analytics methods in an effort to achieve a fairer picture of the market, according to Bobby Ong, CoinGecko’s co-founder. Specifically, the new method will combine online traffic analysis by SimilarWeb and the median of users’ trading volume from 10 exchanges that have trustworthy reported volume as indicated by a report by Bitwise for the U.S. Securities and Exchange Commission, which was published in March. In…

Bitfinex’s Private Token Sale Raised $1 Billion in 10 Days, Exec Says

Cryptocurrency exchange Bitfinex has raised $1 billion through its native token in a private sale, according to its chief technology officer. Paolo Ardoino‏ tweeted Monday that Bitfinex has achieved the target in just 10 days, with participation from “giant” firms from both within the cryptocurrency industry and outside. Some of the investors, which were not named, invested over $100 million each, Ardoino‏ said, adding that others also contributed investments of over $1 million each. . @bitfinex is able to raise 1b USDt in 10 days, in a private sale. Private…

Bitcoin (BTC) Price Uptrend Intact Despite Recent Corrective Decrease

Bitcoin price rallied to a new 9-month high towards $7,500 before correcting lower against the US Dollar. The price declined below the $7,000 support level, but it found strong bids near $6,750. There is a new connecting bullish trend line forming with support at $6,940 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently in an uptrend and it is likely to climb back above $7,200 and $7,250. Bitcoin price corrected sharply from $7,500 against the US Dollar. BTC tested key supports and…