Blockchain 

Fidelity’s Crypto Branch Files for a New York Trust License: Report

Fidelity’s crypto arm Fidelity Digital Assets Services (FDAS) has applied for a license to operate as a trust in New York State. FDAS has filed an application with the New York Department of Financial Services (NYDFS) for a trust license, crypto media outlet The Block reported on July 20, citing several unnamed sources familiar with the matter. If the license is approved, FDAS will officially be allowed to offer its crypto custodial services in the state of New York, operating as a Limited Purpose Trust Company, the report notes. In…

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Ethereum 

Major Crypto Markets Report Mixed Signals, Gold Slightly Fell

Friday, July 19 — Cryptocurrency markets are reporting mixed signals, with most of the top-20 coins by market capitalization are down over the last 24 hours. Market visualization. Source: Coin360 Bitcoin (BTC) has stayed above the $10,000 threshold during the day and is trading at around $10,412 at press time. The leading cryptocurrency has lost 2.14% on the day, while its weekly losses amount to nearly 10%.  As reported earlier today, U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, told fellow lawmakers directly that attempts to stop Bitcoin…

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Ethereum 

Grayscale Investments Report Assets Under Management of $2.7B

Digital asset management fund Grayscale Investments has recorded an all-time high volume of assets under management of $2.7 billion. Per a Digital Asset Investment Report on Q2 2019 that Grayscale shared with Cointelegraph on July 16, the firm counted over $2.7 billion in assets under management as of July 15, 2019. The figure thus marks a near tripling of assets under management by the company since the preceding quarter. Grayscale’s overall performance in Q2 Grayscale stated in the report that total investments into its single-asset and diversified investment products in…

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Ethereum 

Binance Wants to Open a New Local Exchange in South Korea: Report

Binance, the world’s largest crypto exchange by daily trading volume to date, is reportedly planning to set up a branch in South Korea. Malta-based crypto exchange Binance is working with local partners in South Korea to launch a new exchange in the country, Binance CEO Changpeng Zhao (CZ) revealed, according to a report by crypto media outlet Block In Press on July 16. CZ reportedly said that the company does not know the details of the establishment of the new office in South Korea. However, a global representative of Binance…

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Blockchain 

BTC and LTC Halving ‘Shock’ May Be Mitigated by Merged Mining: Report

The effect of block reward halvings for both Bitcoin (BTC) and Litecoin (BTC) mining could be mitigated by merged mining, according to a report by a research arm of major crypto exchange Binance released on July 12. Following Charlie Lee’s prediction that some miners may shut down Litecoin mining after the halving, which is expected to take place on Aug. 5, 2019, Binance Research analyzed the potential of so-called merged mining to retain incentives for crypto miners. Merged mining is a practice of using the work done for one blockchain,…

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Blockchain 

BTC Peer-to-Peer Trading Rises Amid Ban on USD in Zimbabwe: Report

Bitcoin (BTC) trading in Zimbabwe has continued to surge after the government banned the use of foreign currencies on June 24, business news agency Quartz Africa reported on July 10. The country is reportedly seeing a rise in peer-to-peer (P2P) crypto trading as there are no local exchanges offering cryptocurrency transactions due to the existing ban on providing such services enacted by Zimbabwe’s central bank in May 2018. Since Zimbabwe recently re-introduced its local currency, the Zimbabwe dollar (ZWD), after abandoning it in 2009, Bitcoin has apparently become a more…

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Bitcoin 

Coinbase Looks to Launch a Captive Insurance Company with Aon: Report

United States’ biggest cryptocurrency exchange, Coinbase, is reportedly looking to launch a captive insurance company, industry news outlet Coindesk reports on July 10. Per the report, industry sources told the outlet that Coinbase is looking to launch its captive insurance company in partnership with insurance brokerage firm Aon.  According to accountancy news outlet CPAJournal, “a captive insurance company is a subsidiary formed by a private company to finance its retained losses in a formal structure under the guidance of an appropriate state insurance department.” Such a solution allows the company…

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Ethereum 

Top Crypto Markets Report Losses, Bitcoin Hovers Around $11,000

Friday, July 5 — the top-20 digital currencies by market capitalization are trading in the red zone, with only Chainlink (LINK) seeing daily gains, according to data from Coin360. Market visualization courtesy of Coin360 Bitcoin (BTC) has been trading in a narrow corridor from $11,701 to $10,751 as its highest point during the day. The leading crypto has lost 6.25% over the past 24 hours, and is currently trading at $10,969. In terms of its weekly performance, bitcoin has seen a price drop by 2.73%. Bitcoin has become less correlated…

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Bitcoin 

Security Report Gives A or A- Rating to 16% of Major Crypto Exchanges, None Get A+

The latest Exchange Security Report from independent analysts at ICORating has given 16 percent of the world’s biggest crypto trading platforms an A rating, and none of them an A+. The analysis, published Dec. 18, ranked Kraken (A), Cobinhood (A) and Poloniex (A-) as the top three most secure exchanges globally. ICORating assessed 135 crypto trading platforms, all of whose daily trade value reportedly exceeds $100,000, on the basis of four security categories: user account security, registrar and domain security, web security and DoS attack protection. No exchanges sealed an…

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Ethereum 

Bitcoin Could See FOMO Fireworks For 4th of July: New Report

A new report from crypto analytics site SFOX suggests bitcoin (BTC) could see a price hike on American Independence Day — July 4th.  In a July 3 blog post, SFOX analyzes the apparent impact that holidays can have during a crypto bull market, arguing that they appear to spark fresh FOMO — or fear of missing out: “Thanksgiving of 2017 marked the beginning of bitcoin’s run-up from the low $8000’s to its peak of almost $20,000 on December 17th […] in February of 2019 during the two week Spring Festival…

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