Blockchain

Bitcoin [BTC] and the blockchain space are two separate things, says Francis Pouliot

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Daily Crypto News – May 11

1) XRP Ripple Liquid Index on Google: On April 29, Nasdaq announced the addition of Brave New Coin’s XRP Liquid Index on the Nasdaq Global Index Data ServiceSM (GIDS). It also announced that the index would be live on May 01, however, the index, at press time, wasn’t accessible on both Brave New Coin and on Nasdaq. But an interesting revelation was the fact that the index showed up in a Google search.

Read more at https://bit.ly/2JyxK62

2) Bitcoin [BTC] total market capitalization crosses $200 billion: With Bitcoin surging over $6,000 and only days later, on the verge of breaking the $7,000 mark, the bulls of previous year’s rallies have been re-awakened. On the back of this massive rally, the collective market capitalization skyrocketed over $200 billion for the first time in almost six months.

Read more at https://bit.ly/2vO7cpo

3) 20 million USDT transferred: Two massive transactions involving Tether were recorded, moving in and out of Huobi, a Chinese exchange. The first transaction transferred 10 million USDT from 1FwWBMfwxE9ngQ5DJKHFQsZ1wqpfD1sjpk to 1EPDc4Cw4xiqsoWCHnWepfwbqWLcBFamwm. The sender had a balance of 22 million USDT, while the receiver had zero balance and this transaction took place on the Omni Explorer.

Read more at https://bit.ly/2vSZU3K

4) FinCEN releases new guidance document: In a recent development, the Financial Crimes Enforcement Network [FinCEN] published a thirty-page document guiding financial institutions to comply with current regulations while interacting with digital assets, and further analyzed activities and entities that come under their jurisdiction.

Read more at https://bit.ly/2VeH29q

5) Fidelity will stick to top cryptos like Bitcoin or XRP: The sudden movement in Bitcoin prices has added fuel to the cryptocurrency market’s excitement, with many in the space speculating that the bear market may have finally come to an end. In the latest Crypto Trader episode, Ran NeuNer sat down with Frank Chaparro, Senior Correspondent at The Block and Anthony Pompliano, Founder of Morgan Creek Digital Capital, to talk about Bitcoin’s price changes and other developments in the industry.

Read more at https://bit.ly/2LEGM46

6) Bitcoin’s [BTC] bull run may have started: Bitcoin has been in a bearish downtrend for over a year, but the recent and the sudden rise in prices has caused FOMO among hidden bulls, pushing the price even higher. Vinny Lingham, the CEO of Civic Key and a Bitcoin enthusiast tweeted his views on the current rally and the next possible bull rally.

Read more at https://bit.ly/2JhfTRR


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Bitcoin

Don’t Celebrate Yet, Bitcoin Could Still Spiral Down To $1k

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Bitcoin may be touted as one top crypto headed for a major bull run in the near future, but it turns out that not everyone is of that opinion – at least not Leah Wald. However, others like Fundstrat’s Tom Lee have long emphasized that the crypto winter is officially over, especially after Bitcoin’s charts formed the Golden Cross that’s recognized as a sign for an impending bull run.

Still, according to Leah Wald, Bitcoin’s price could fall back to $1,000 in the event of a severe retracement – unless it can surge up to reach the previous ATH and possibly break the record to trade above $20,000. Leah Wald is a cryptoanalyst and a former World Bank economist.

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Winklevoss: Buying Bitcoin isn’t “as crazy as sitting on the sidelines”

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While it could be argued that investing in Bitcoin is certainly a risk, Cameron Winklevoss, – one-half of the famous Winklevoss twins – believes that it’s not as risky, or as he puts it “crazy” as waiting on the sidelines.

The Winklevoss brothers are known for their bullish ways, especially when it comes to Bitcoin (BTC); and today is no exception with Cameron offering his famous rhetoric on the #1, encouraging speculators to jump in and invest.

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Update From New York City’s Blockchain Week

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PHOTO:
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For the last five years, every spring CoinDesk has been hosting its blockchain technology conference Consensus in New York City. The idea is to bring together the top brands and developers in the cryptocurrency and blockchain spaces to learn what’s new and what’s next. The event has grown to include the surrounding Blockchain Week, which includes both official and unofficial events thanks to the volume of attendees.

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Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019

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The central bank of Russia believes that the draft bill on crypto regulation is prepared enough to be adopted in the spring of 2019, local news agency TASS reports on May 22.

Olga Skorobogatova, first deputy governor of the Russian central bank, has stated that the bank expects the crypto bill, “On Digital Financial Assets” (DFA), to be adopted during the spring session in 2019 in accordance with the order of the country’s president, Vladimir Putin.

Speaking at a recent meeting of the Parliament, Skorobogatova argued that the DFA, as well as a draft law on crowdfunding and other crypto-related bills, are at a “sufficiently high degree of preparedness” to be adopted during the session.

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Goldman-Sachs Backed Circle Blames ‘Restrictive’ US Laws for Layoffs

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Bitcoin and crypto are rising, but Goldman Sachs-backed Circle laid off 10 percent of its workforce blaming a ‘restrictive’ regulatory climate. But is that just a smokescreen to mask Circle’s dwindling user base?


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