Bitcoin 

Bitcoin Miner Canaan’s IPO Nets Just $90M After Losing Banking Partner

Bitcoin (BTC) mining giant Canaan Creative has raised $90 million in its initial public offering (IPO) — over 75% less than expected.  According to Bloomberg, which quoted filings from United States regulator the Securities and Exchange Commission (SEC) on Nov. 20, Canaan sold 10,000,000 shares for $9 each. From $400M to $90M Previously, the company looked to raise considerably more. Having failed to secure an IPO in Hong Kong last year, Canaan looked to the U.S., with a funding figure of $400 million circulating prior to the event. A setback…

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Bitcoin 

Bitcoin Price Loses $8,000 Support as Bears Drive Market to 4-Week Low

Bitcoin (BTC) fell below $8,000 on Nov. 21 after several days of downward price pressure finally cost the cryptocurrency a major support level. Data from Coin360 showed BTC/USD finally reentering the $7,000 range on Thursday, marking its lowest since the last week of October. $7,880 was met by an immediate bounce to $7,940.  Bitcoin daily price chart. Source: Coin360 Analysts eye $7,500 and $6,500 floors for BTC Analysts had widely predicted the bearish move, with regular Cointelegraph contributor Michaël van de Poppe recently eyeing $7,400 as a realistic new support…

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Blockchain 

Binance ‘Buidls’ Bridge With India, Acquiring Leading Bitcoin Exchange

Binance has acquired the well-known Indian crypto exchange WazirX, bringing easier cryptocurrency access to a population of over one billion. According to an announcement published on Nov. 21, users will be able to use Indian rupees (INR) to buy and sell crypto via the Binance Fiat Gateway as early as Nov. 25. Major morale boost for the Indian community During the first quarter of 2020, WazirX’s auto-matching engine will be integrated into the Binance Fiat Gateway so that Binance.com users will be able to directly place orders on the flagship…

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Blockchain 

OneCoin Fugitive Cryptoqueen Allegedly Paid $50 M to Lawyer to Launder Funds

United States prosecutors told a Manhattan jury that lawyer Mark S. Scott was paid $50 million to help OneCoin co-founder and current fugitive Ruja Ignatova launder $400 million. On Nov. 20, Law360 reported that the Manhattan U.S. attorney’s office and the New York County district attorney’s office are in the last phase of prosecuting Scott,  a former partner at law firm Locke Lord, who allegedly received $50 million to launder a whopping $400 million for Ignatova, also known as the “cryptoqueen.” Crypto scam raised $4.4 billion OneCoin is among the…

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Blockchain 

US Think Tank Releases Report on Investigation Into Illicit Transactions on the Dark Web

United States think tank The Rand Corporation has taken a closer look at the dark web, where criminal activities are difficult to discover, monitor, and investigate for law enforcement. On Nov. 20, The Rand Corporation, the Police Executive Research Forum, and the University of Denver on behalf of the National Institute of Justice released a report that dives into a variety of criminal aspects of the so-called dark web. Dark web provides level of anonymity by using crypto The report was compiled during a workshop where law enforcement practitioners and…

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Bitcoin 

PayPal CEO Hodls Bitcoin and Only Bitcoin

Dan Schulman, CEO of payment processor PayPal, revealed during an interview that he does indeed own Bitcoin (BTC). On Nov. 20, Fortune reported that PayPal CEO Dan Schulman stopped by its offices where he discussed a variety of topics, including the reason for PayPal’s withdrawal from the Libra Association and whether he is the proud owner of any cryptocurrencies. PayPal was the first to leave Libra Schulman explained that PayPal withdrew from Libra because the company decided to put its attention elsewhere. According to the CEO it was a question…

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Bitcoin 

Bitcoin More Attractive During Times of Global Uncertainty

John Pfeffer, founder of Pfeffer Capital, together with Travis Kling, founder and CIO of Ikigai Asset Management and Charles McGarraugh, head of markets for Blockchain, discussed Bitcoin (BTC) in the context of Brexit, trade wars and geopolitical uncertainty. On Nov. 20, the panel of three sat down for an interview with Bloomberg’s Alastair Marsh at the Future of Digital Assets briefing in London, where they took a closer look at the idea that Bitcoin becomes more attractive as an investment during times of global uncertainty. Bitcoin the ultimate store of…

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Blockchain 

With 7,600 Blockchain Patent Applications, Chinese Firms Far Outpace US

Measured by patent applications in the sector, China is handily outpacing other countries including the United States in blockchain technology. On Nov. 20, Japan-based financial newspaper Nikkei reported that Chinese companies submitted around 7,600 applications between 2009 and 2018 — about three times as many as U.S.-based companies. A total of 12,000 blockchain applications According to Tokyo-based research firm Astamuse, the U.S., China, Japan, South Korea and Germany together submitted around 12,000 blockchain-related patent applications through 2018, with China accounting for over 60% of the five-country total. South Korea submitted close…

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Bitcoin 

Doom or Double Bottom? — Bitcoin Price Support at $7.8K Is Key

Bitcoin’s (BTC) price action continues to be less than impressive unless one is a bear capitalizing on the current shorting opportunities.  Bulls pinned their hopes on BTC price breaking out of the falling wedge in a strong upside move since the consensus was that this particular pattern tends to produce bullish outcomes more often than not. This was not the case and Bitcoin price toppled below the descending trendline to $7,981.  Since reaching a dominance rate of 69.35% on Oct. 27, Bitcoin’s dominance rate has dropped to 65.9% and a…

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