Cryptocurrency 

Bitpoint Hacked for $32 Million, Another Example of Crypto’s Volatility

A Tokyo-based cryptocurrency exchange called Bitpoint has suspended operations after it lost $32 million to a hacking last night. The company that runs the exchange, Remixpoint, discovered that ¥3.5 billion worth of various digital currencies had disappeared under its management. Bitpoint Hacked and Suspends Operations According to the exchange, the funds went missing from a hot wallet (a wallet connected to the internet), but other funds held in cold wallets or offline haven’t been affected. The hacking was brought to light when an error appeared in the exchange’s outgoing funds…

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Ethereum 

Cryptos Are Not a Threat to Financial Stability

Central Bank of Germany representative Burkhard Balz said that cryptocurrencies do not pose a threat to financial stability during a talk at the European Parliament reported a post published on the institution’s website on July 9. Burkhard Balz, Member of the Executive Board of the Deutsche Bundesbank, stated that “crypto-tokens currently do not pose a risk to monetary or financial stability.” Furthermore, he also noted that “gaps may occur where they fall outside the scope of regulators’ authority or where there is an absence of international standards.” This idea is…

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Ethereum 

Bitcoin Below $11,400 as Top Cryptos Trade Sideways

Sunday, July 7 — Мost of the top 20 cryptocurrencies are trading sideways at press time, as bitcoin (BTC) hovers under the $11,400 mark. Market visualization courtesy of Coin360 Bitcoin is currently down by 0.10% on the day, trading around $11,361 at press time, according to Coin360. Looking at its weekly chart, the coin is down by 0.45%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported earlier this week, American investor and co-founder of Morgan Creek Digital Assets Anthony “Pomp” Pompliano explained his investing strategy and skepticism towards fiat currency…

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Blockchain 

Bitcoin Approaches $11,500 as Top Cryptos See Gains

Saturday, July 6 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as Bitcoin (BTC) hovers just under the $11,500 mark. Market visualization courtesy of Coin360 Bitcoin is currently up by about three percent on the day, trading around $11,486 at press time, according to Coin360. Looking at its weekly chart, the coin is down by over 7.68%. Bitcoin 7-day price chart. Source: Coin360 According to a recent report released by major cryptocurrency exchange Binance, bitcoin has become less correlated with other cryptos…

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Ethereum 

Bitcoin Decorrelated with Other Cryptos in Q2 2019

Bitcoin’s (BTC) has become less correlated with other cryptos in Q2 2019 due to a potential “flight-to-quality” in the recent bull run, according to a Binance report on crypto correlations released on July 5. In its “2019 Q2 Crypto-Correlations Review,” Binance specified that average correlation between Bitcoin and all other major crypto assets declined to 0.61 from 0.73 in Q1 2019. Correlation rate is a statistical measure that indicates the degree of the relationship between assets, with the values ranging between -1.0 and 1.0. As such, assets with a correlation…

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Blockchain 

Bitcoin Hover Over $11,800 as Top Cryptos See Gains

Saturday, June 29 — most of the top 20 cryptocurrencies are reporting moderate to significant gains on the day by press time, as bitcoin (BTC) hovers over under the $11,800 mark again. Market visualization courtesy of Coin360 Bitcoin is currently up about .14% on the day, trading around $11,830 at press time, according to Coin360. Looking at its weekly chart, the coin is up over 13%. Bitcoin 7-day price chart. Source: Coin360 Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $32.5…

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Bitcoin 

The Benefits and Drawbacks of National Cryptos, According to Different Jurisdictions

This month alone, at least three separate countries have reported on their prospective central bank-issued digital currencies (CBDCs): The Republic of the Marshall Islands (RMI) announced the creation of a specially dedicated nonprofit organization to support its digital currency that is already being developed. Meanwhile, the central bank of Russia said it was considering its own cryptocurrency (albeit not in the near future), while the National Bank of Ukraine released a report on the matter. The concept of CBDCs has been steadily drawing the attention of numerous jurisdictions worldwide, but…

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Bitcoin 

‘Non-Sovereign’ Bitcoin and Cryptos Will See Continued Growth

Jeremy Allaire, co-founder and CEO of payments company Circle, believes non-sovereign cryptocurrencies such as bitcoin (BTC) will continue to see growth despite the proliferation of new forms of digital assets such as Facebook’s Libra and stablecoins.  During an interview on CNBC’s Squawk Box on June 24, Allaire argued that the cryptocurrency landscape will not evolve in a “winner takes all” direction, but that a range of different digital assets with varying degrees of autonomy and regulation will become broadly used by individuals and investors alike. Allaire made one prime distinction…

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Bitcoin 

Bitcoin Falls Under $10,700 as Top Cryptos See Mixed Movements

Monday, June 17 — Most of the top 20 cryptocurrencies are reporting mixed movements on the day by press time, as bitcoin (BTC) trades under the $10,700 mark. Market visualization courtesy of Coin360 Bitcoin is currently down over 4.65% on the day, trading around $10,644 at press time, according to Coin360. Looking at its weekly chart, the coin is up over 16%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported yesterday, bitcoin crossed $11,000 in under 24 hours after crossing $10,000. Ether (ETH) is holding onto its position as the…

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Ethereum 

Bitcoin Worth Over $9,200 as Top Cryptos See Growth

Friday, June 14 — Most of the top 20 cryptocurrencies are reporting moderate growth on the day by press time, as bitcoin (BTC) crossed the $9,200 mark. Market visualization courtesy of Coin360 Bitcoin is currently up over 6% on the day, trading around $9,250 at press time, according to Coin360. Looking at its weekly chart, the coin is up over 13%. Bitcoin 7-day price chart. Source: Coin360 Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just over $29 billion. The…

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