BlockFi Adds Litecoin, USDC to Its Lending Product Suite
Crypto lending startup BlockFi now supports litecoin and dollar-backed stablecoin USD Coin (USDC) on its platform, enabling users to earn interest on, trade and receive loans backed by the assets. The initial annual percentage yield on the assets will be 8.6 percent for USDC and 3.78 percent for litecoin. In 2020, the company aims to […]
What Bakkt Could Do Long-Term For Bitcoin
The highly-anticipated Bakkt Bitcoin futures is live and has been for the past couple of months or so but what does it mean for bitcoin long-term? Specifically, we mean the price of bitcoin as initially, we saw (or didn’t see) very little volatility that was expected with the launch of the platform. But in the long-term where can bitcoin […]
Bitcoin Eyes Price Breakout Amid US-Iran Tensions
Bitcoin is drawing bids amid heightened geopolitical uncertainty and could soon rise above key resistance at $7,580, confirming a short-term bullish breakout. The top cryptocurrency is currently trading at $7,530, representing a 1 percent gain on a 24-hour basis, according to CoinDesk’s Bitcoin Price Index. Prices are now up nearly 10 percent from lows near $6,850 […]
Bitcoin Price Falls Below $7,000, Another Retest of Lows Ahead?
After Bitcoin price swept lows right before the Christmas holiday, many crypto traders thought that the bottom was in across the crypto market, and Bitcoin would head into the New Year with renewed bullish momentum. But after days of struggling to breach resistance, the crypto asset has now fallen below $7,000 once again and is at risk […]
YouTube Calls Crypto Purge a Mistake But Many Videos Still Missing
Responding to allegations that it had intentionally deleted content from cryptocurrency education channels ChrisDunnTV, Crypto Tips, BTC Sessions and others in what apparently amounted to hundreds of missing videos, the spokesperson said that YouTube made “the wrong call.” “With the massive volume of videos on our site, sometimes we make the wrong call. When it’s […]
US Lawmakers Ask IRS to Clarify Crypto Tax Rules Around Airdrops, Forks in New Letter
The U.S. taxman’s most recent crypto guidance is sowing confusion, according to a letter from eight congressmen published Friday. According to a letter penned by Representatives Tom Emmer (R-Minn.), Bill Foster (D-Ill.), David Schweikert (R-Ariz.), Darren Soto (D-Fla.), Lance Gooden (R-Texas), French Hill (R-Ark.), Matt Gaetz (R-Fla.) and Warren Davidson (R-Ohio), the Internal Revenue Service’s (IRS) […]
Fidelity Exec Predicts Crypto Custodians Will White-Label Their Services
Fidelity Digital Assets (FDAS) envisions a future where custodians work behind the scenes to store cryptocurrency for other firms’ clients, like supermarkets putting their brands on third-party products. “The way we think about it is, you can build your own infrastructure but that’s really expensive,” Christine Sandler, head of sales and marketing at the unit […]
SEC Proposal Would Broaden ‘Accredited Investor’ Definition
The U.S. Securities and Exchange Commission (SEC) wants to allow more individuals and entities to invest in regulated financial instruments. According to a press release issued Wednesday, the SEC intends to add a list of new qualifications to become an accredited investor. At present, accredited investors are defined as individuals with more than $1 million in net worth (or […]
State Street Teams up With Winklevoss-Founded Gemini Exchange for Digital Assets Trial
One of America’s oldest banks is eyeing the latest technology in a bid to appeal to clients. Boston-based State Street Corp. announced Tuesday that it’s partnering with cryptocurrency exchange and custodian Gemini Trust on a new pilot that examines reporting scenarios for digital assets. The trial will track a reporting process for bitcoin and ether […]
2019: The Year Washington, Silicon Valley and Beijing Faced Off Over Crypto
2019 has been a historic year for cryptocurrency and blockchain technology. Global state leaders such as President of the People’s Republic of China Xi Jinping and the President of the United States Donald Trump have made public statements addressing the dynamics of this revolutionary tech. Traditional tech companies such as messaging app giant Telegram and social media giant Facebook have made bold promises […]