What’s Going On In The Crypto World

  • A Stock Market Crash is Inevitable – Here Are 3 Nightmare Scenarios
    By CCN: The US stock market teeters at its third-most expensive valuation in history, just a hair shy of ballooning past Black Tuesday and the 1929 stock market. That’s based on the Shiller P/E ratio, which is derived from average inflation-adjusted earnings from the previous ten years. Given the lofty heights of the stock market, it would take a 50 percent stock market crash to revert valuations to the mean. In other words, it’s time to… Read more »
  • How Much Adoption Can Bitcoin Handle Right Now?
    Source: iStock/da-kuk Adoption is the holy grail of Bitcoin. However, as fantastic as large-scale adoption would be in theory, there remain serious questions as to whether Bitcoin and its blockchain can genuinely handle such adoption. Because while Bitcoin has witnessed a number of significant upgrades in recent months and years, these still haven't been substantial enough to push it anywhere ne Read more »
  • ‘GlobalCoin’: Not Everyone Thinks Facebook’s Crypto Project is a S***coin
    By CCN: Zcash developer Zooko Wilcox, who has previously opined that cryptocurrencies can be used to evade taxes, posted an “unpopular opinion” to Twitter today: Facebook’s crypto project is “awesome.” Facebook Coin: “Awesome”? Unpopular opinion: I think the fact that Facebook is working on a crypocurrency is awesome. — zooko (@zooko) May 24, 2019 Facebook’s cryptocurrency project is a long way from the days of pseudonymous bitcoin or opaque Monero. Tied to the verified user… Read more »
  • Great Crypto Expectations: 20 Crypto Jokes
    It was an eventful week in the cryptoverse, but luckily for all its inhabitants, it was generally positive, as new opportunities arise and people are being optimistic and hopeful for the next bull run. The week started with the report of a famous journalist interviewing a Bitcoin advocate on a popular, which led the interest for Bitcoin to spike. That was followed with the realization that regula Read more »
  • Robinhood Attracts $200 Million as Valuation Swells to $7 Billion: Report
    By CCN: Who says millennials don’t like to save and invest their money? By building a commission-free stock brokerage and trading app with a slick interface, Robinhood has built a $7 billion business in just six years. That’s the company’s valuation as it nears a $200 million funding round from its current financial backers, Bloomberg reports. The investment round is still unfolding and once complete could reportedly result in Robinhood fetching a valuation as high… Read more »
  • It’s Water Under the Bridge as Zuckerberg & Winklevii Talk Crypto: Report
    By CCN: Mark Zuckerberg has been collaborating with his old rivals, the Winklevoss twins, to launch a digital currency that can be used across Facebook, WhatsApp, Instagram and beyond, according to a report in the Financial Times. Facebook’s cryptocurrency, reportedly dubbed GlobalCoin, is expected to make its debut next year. The FT reports that Facebook is talking to crypto exchanges including Gemini, which was founded by Tyler and Cameron Winklevoss, in addition to Coinbase. The… Read more »
  • JPMorgan Forecasts Dismal 1% GDP Growth, Signals Possible Rate Cut
    By CCN: The other shoe could be about to drop in the economy. JPMorgan economists in a report predict the second quarter will witness slowed economic growth. They’re expecting U.S. GDP to expand by a measly 1%, lower than their original predictions of 2.25%. During Q1, the economy expanded at a rate of 3.2%. The economists also analyze the Federal Reserve, marking an equal chance for interest rate hikes as there is for cuts. Originally,… Read more »
  • 3rd-Biggest Thai Bank Teases Tantalizing News for Ripple (XRP) Bulls
    By CCN: Siam Commercial Bank, Thailand’s third-largest financial institution, quietly teased some tantalizing news that should kick the Ripple (XRP) rumor mill into high gear. SCB Thailand Taps Ripple for Blockchain Payments Already, SCB Thailand launched a blockchain platform that uses the Ripple company’s xCurrent system to facilitate cheaper cross-border money transfers. Now, the Thai financial institution also hinted that there would be a further announcement about SCB using XRP directly via the xRapid payment system.… Read more »
  • SpaceX Attracts $1 Billion to Its Coffers amid Flawless Satellite Launches
    By CCN: Tesla might be in trouble, but Elon Musk’s SpaceX venture is defying all odds. A CNBC report states that the company has managed to raise more than $1 billion in additional funding year-to-date. The development coincides with 60 satellites SpaceX launched on May 23, which are designed to bring more affordable internet to users everywhere. In all, SpaceX plans to launch a total of roughly 12,000 satellites into the final frontier. Starlink will… Read more »
  • ‘Bitcoin Bernie’: Mike Novogratz Calls for Radical Weath Redistribution
    By CCN: These days, billionaire hedge fund titan Mike Novogratz is known more for his rabid Bitcoin pumping than his Wall Street wizardry. However, in a new CNBC interview, he channeled his inner Bernie Sanders to champion another of his passions: wealth redistribution. Novogratz, Bernie, & AOC Find Surprising Common Ground During an appearance on Squawk Box today, Novogratz commented on America’s income equality gap and declared that we need a “redistribution of wealth.” The… Read more »
  • Avoid These 3 High-Risk Cannabis Stocks Like the Plague
    By CCN: Cannabis stocks are all the rage following last year’s explosion in the sector. With legalization gaining steam in both the U.S. and Canada, investors are piling into these companies as if they are going to be the next great money-making scheme. The problem is most of these stocks aren’t worth real green. They are only worth what the market says they are worth, and that value is going to decline for almost all of… Read more »
  • Dow Rebounds But Fails to Snap Streak of Brutal Weekly Losses
    By CCN: The Dow and broader U.S. stock market rallied on Friday, as investors shrugged off dismal factory data amid hopes that the Trump administration would ease restrictions on Huawei, China’s largest telecommunications company. Dow Clings to Friday Recovery All of Wall Street’s major indexes headed for gains in the final session of the week, bouncing back from a brutal Thursday session that saw the Dow drop as much as 448 points. On Friday, the… Read more »
  • Bitcoin Data Giant CoinMarketCap Sponsors Major Israeli Football Club
    By CCN: Crypto price-tracking website CoinMarketCap is sponsoring the Beitar Jerusalem Football Club, an Israeli soccer team. And Israel’s most famous footballer, Yossi Benayoun, is a bitcoin investor. Benayoun retired from Beitar Jerusalem last month. Beitar Jerusalem Scores CoinMarketCap Sponsorship Luke Wagman, the CEO of CoinMarketCap, proudly touted the news on Twitter. A giddy Wagman even suggested that CoinMarketCap’s sporty new uniforms brought Beitar Jerusalem some good luck in a friendly match against Madrid. “Thrilled… Read more »
  • This FANG Stock Could Benefit from Tesla’s Pain in Autonomous Car Wars
    By CCN: Now that the battery on Tesla’s stock is running on empty, investors might want to consider other options. Alphabet (GOOGL), which is the parent company of Google, could get a boost from Waymo, the search giant’s autonomous vehicle subsidiary. On CNBC’s Fast Money, Guy Adami gave the bullish case for Alphabet’s stock, saying: “Tesla’s woes, Waymo’s gains. Tesla’s in the autonomous industry. You know what? Maybe they’re not as close as we think.”… Read more »
  • Tesla Slashes Toilet Paper Usage as Stock Swirls in Crapper
    By CCN: Tesla’s extreme cost-cutting measures have hit Tesla employees where the sun don’t shine. To keep costs low the electric vehicle company is holding back on purchases of new office supplies, including toilet paper for employee bathrooms. Elon Musk did mention this week that the budget cuts would be “quite hardcore.” Tesla Employees Bring Their Own Toilet Paper to Cut Costs Elon Musk wasn’t joking. Sources told Electrek that several facilities have drastically cut… Read more »
  • Boeing Drags Dow Jones Higher as 737 Rumor Boosts Stock
    By CCN: Boeing stock rallied on Friday, helping the Dow Jones salvage its floundering recovery following a report that the 737 MAX could fly again as soon as next month. Boeing Stock Rises on 737 MAX Rumor Boeing shares rose more than 2 percent in pre-market trading, though by the early afternoon they had given up some of those gains. Shortly before 1 pm ET, shares had jumped 1.6 percent to $356.12. Boeing’s strong showing… Read more »
  • Binance, in One-Two Punch to Rival Exchanges, Readies Margin Trading
    By CCN: Cryptocurrency exchange Binance has given followers a peek into its margin trading screen, and its native cryptocurrency BNB surged as much as 10% in response. Speculation about Binance’s expansion into margin trading has been swirling for a while. True to the company’s style, they took to Twitter to reveal a screenshot of the upcoming margin trading user interface, posing the question to followers: “Dark mode or Light mode?” According to a report in… Read more »
  • 3 Crypto Charts That Prove Bitcoin Is About to Bleed Market Share
    By CCN: “Alt season” is one of the most profitable phases of the cryptocurrency market cycle. It is a period when all altcoins – from large-cap to small-cap – go through exponential growth, often at the expense of bitcoin. We experienced this phenomenon early this year, until bitcoin’s parabolic rise over the last few weeks shattered many altcoins to the point of capitulation. With many large-cap coins suffering tremendous losses, it is easy to assume… Read more »
  • Buffett’s Amazon Stock Hoard Will Be Worth $1.4 Billion in 24 Months
    By CCN: In a shockingly-bullish call, Piper Jaffray predicts that Amazon stock will surge to $3,000 in as little as two years. That means Warren Buffett and Berkshire Hathaway’s recent $900 million AMZN acquisition could be worth $1.44 billion in 2021. According to Piper analyst Michael Olson, this is a conservative projection of Amazon’s stock price into the future. He says this stunning 65% price rally will be easily attainable on the momentum of Amazon’s… Read more »
  • Bitcoin Epically Rescues this Bubble Portfolio’s Tesla Stock Crash
    By CCN: A hypothetical exchange-traded fund composed of assets deemed as overvalued by the media such as Bitcoin and some tech stocks has so far this year posted a return of 17 percent, MarketWatch reports. Currently, the bubble portfolio consists of among others Bitcoin, Argentina’s century bond and tech stocks such as Netflix, Tencent and Tesla. The bubble portfolio was the brainchild of Bloomberg editor, Joe Weisenthal. Paul McNamara, an investment director at asset management… Read more »
  • Crypto Traders Warn Newbies About New & Super Risky Binance Feature
    The most recent confirmation that major cryptocurrency exchange Binance will be rolling out its margin trading feature "soon" left the cryptoverse abuzz with warnings that new traders should stay away from this very risky instrument. Binance CEO, Changpeng Zhao, hinted about the new feature by posting a screenshot of their upgraded website today, while later the Read more »
  • Robinhood Uses BitLicense, Brings Zero-Fee Crypto Trading to New York
    By CCN: Robinhood has brought its popular commission-free crypto trading app to New York investors. The California-based startup announced Thursday that it is launching bitcoin, ethereum, and other cryptocurrency trading services in New York. The announcement appeared precisely four months after Robinhood received a BitLicense from the New York State Department of Financial Services (NYDFS). Excerpts from the press release: “Currently, you can invest in seven cryptocurrencies on Robinhood Crypto: Bitcoin, Bitcoin Cash, Bitcoin SV,… Read more »
  • Dow Blasts Higher After Trump’s Trade War Boast Stuns Markets
    By CCN: The Dow shot higher on Friday after President Trump stunned Wall Street with his prediction that the trade war would be resolved unbelievably quickly. However, as an increasingly-nationalist Beijing continues to strike an isolationist pose, is the White House fattening the stock market on a diet of false hopes ahead of a painful economic cold war? Dow Bounces Into Recovery Mode All of Wall Street’s major indices bounded into recovery mode on Friday,… Read more »
  • Samsung Preps Crypto Integration in Samsung Pay Wallet to Millions Globally
    By CCN: According to Business Korea, a mainstream media outlet in South Korea, Samsung Electronics is preparing the integration of crypto assets into Samsung Pay. Samsung Pay reportedly accounts for around 80 percent of the market share of the simple payment market and the integration of crypto assets is expected to increase the mainstream adoption of the asset class. “Samsung Electronics appears to be moving to integrate cryptocurrencies to Samsung Pay, which accounts for 80… Read more »
  • Litecoin (LTC) Price Soars 13% to Smash Weekly High of $100
    By CCN: Litecoin price (LTC) rose above $100 Friday for the first time in eight days, a move that marked the asset’s likelihood of retesting its 2019 high at $107.60. The world’s fifth largest cryptocurrency by market valuation bounced to 100.88 at 1106 UTC – the highest since May 17, 2019, according to San Francisco-based Coinbase exchange. The surge appeared in the wake of a market-wide upside correction, in which all the leading digital assets posted impressive… Read more »
  • Bitcoin Ransomware Siege: Google Disables Baltimore’s Gmail During $100,000 Standoff
    By CCN: The city of Baltimore has suffered a blow in its bid to keep operations running amidst a bitcoin ransom attack that has crippled critical services. Per The Baltimore Sun, city officials had created Gmail accounts in the wake of ransomware attackers demanding $100,000 in Bitcoin. This was after the baltimorecity.gov official email addresses were knocked out. However, on Thursday the free email accounts that the city officials created were disabled. When trying to… Read more »
  • Yuan Depreciation Could Fuel an Epic Crypto Bull Market – Arthur Hayes
    Similar to 2015, a sharp and sudden yuan depreciation could lead to the beginning of another "epic bull market," according to Arthur Hayes, co-founder & CEO of cryptocurrency trading platform BitMEX. In his recent digest, discussing the U.S. and Chinese economies, especially given the current trade war, Hayes focused on China, stating that “Chinese asset holders Read more »
  • Spanish Banking Fintech Launches Visa-Friendly EU Crypto Debit Card
    By CCN: 2gether, based in the EU, announced today that it’s launching a Visa debit card which will enable users to convert crypto to fiat via ATM quickly. The card itself doesn’t charge a fee to make these transactions, but there is a fee involved in exchanging the crypto and whatever fees the ATM itself may charge. The card is issued by a registered money transmitter based in Spain. No Additional Fees Once, crypto users… Read more »
  • Brave Testing Tipping Tweets in BAT
    Source: Twitter, @brave The first decentralized browser based on blockchain technology that lets users earn tokens as they browse, Brave, is testing a new feature for tipping tweets with Brave Rewards. For users of our Nightly desktop version, we're testing a new feature for tipping tweets with Brave Rewards. Tips are sent instantly for those verified via https://t.co/D6FXJJtLwp (tips to unve Read more »
  • Bitcoin and Altcoins Rebound, Market Cap up 6%
    Yesterday, we saw a major downside correction in bitcoin and most major altcoins, including ethereum, ripple, bitcoin cash, EOS, litecoin, binance coin and tron. BTC/USD declined below USD 7,700 and later found a strong buying interest near the USD 7,500 level. As a result, the price bounced back above USD 7,800 and is currently facing crucial resistances near USD 7,950 and USD 8,000. Similarly, t Read more »
  • American Telco Giant AT&T Starts Accepting Crypto Payments
    AT&T claims it has become the first major U.S. mobile carrier to provide a cryptocurrency payment option to customers. The company announced on Thursday that its subsidiary, AT&T Communications has partnered with major cryptocurrency payment processor BitPay in order to process crypto payments. “We have customers who use cryptocurrency, and we are happy we can Read more »
  • Telegram's TON Comes in Q3, Facebook Coin - in 2020 - Reports
    Messaging app Telegram might launch its blockchain ecosystem project Telegram Open Network in Q3 of this year, while Facebook's digital payments system aims to debut in about a dozen countries by Q1 of 2020, according to media reports. (Updated on 06:54 UTC: updates in bold.) The testing at Telegram confirmed that its blockchain and consensus algorithm met the goal of its or Read more »
  • Grayscale Just Brought More Good News For Ethereum Investors
    Grayscale, a U.S.-based cryptocurrency asset management firm, just made another major step towards cryptocurrency adoption. The company announced that shares of its Grayscale Ethereum Trust (ETHE) were approved by the Financial Industry Regulatory Authority for a public trading on OTC Markets. The trading is estimated to start "soon." "The secondary m Read more »
  • Colorado Appoints its First Ever Blockchain Architect
    The flag of the state of Colorado. Interesting news come from Colorado, USA, as the state got their own, very first Blockchain Solution Architect. “The Colorado Governor’s Office of Information Technology (OIT) announced the appointment of Thaddeus (Thad) Batt as the state’s first ever Blockchain Solution Architect”, stands in the OIT’s press release from May 14th, 2019 Read more »
  • 20 y/o Crypto Millionaire Launches Bitcoin Investment App
    Erik Finman, the twenty-year-old crypto millionaire and one of the earliest and youngest investors in Bitcoin, is launching a new Bitcoin investment app called CoinBits. This tool uses an investment strategy known as dollar-cost averaging, applying it to Bitcoin investing. The website states that investing in Ethereum and Litecoin will be available soon as well. CoinBi Read more »
  • Will the Real Buterin Please Stand Up - Bot Mimics Ethereum Founder
    Source: a video screenshot, Youtube, CIGI, Cryptonews.com. There is a new kind of Vitalik Buterin - Vitalik Boterin. It is a bot powered by machine learning (ML) that imitates Ethereum founder Vitalik Buterin. The AI-powered VitaliBot, which has more than 800 followers on Twitter, is interesting to people for several reason, not the least of which is the accuracy with which it mimics his organic Read more »
  • Bitcoin and Altcoins Turn Red, Erase Weekly Gains
    In the past few hours (08:10 UTC,) there was a strong increase in bearish pressure on bitcoin below the USD 7,850 support level. BTC/USD declined below the USD 7,700 and USD 7,600 levels to trade to a new weekly low. The price is currently holding the USD 7,520 support, but there is a risk of more losses before the bulls stage a fresh upward move. Similarly, there were downsides in most major altc Read more »
  • Authorities Will Regret Shutting Down Bitcoin Mixer - Crypto Professor
    Authorities will regret the chain reaction that they are starting with a decision to shutdown a major bitcoin mixer, Emin Gün Sirer, a Cornell University crypto professor who's launching his own coin, estimated. The Dutch Fiscal Information and Investigation Service (FIOD), in cooperation with Europol and the authorities in Luxembourg, clamped down on one of the world’s l Read more »
  • Binance CEO Claims VC Giant Hurt His Reputation (UPDATED)
    Source: a video screenshot, Youtube, Blockchains for Sustainable Development Binance founder and CEO Changpeng Zhao seeks an unspecified "reasonable compensation" from Sequoia Capital China, a subsidiary of venture capital giant Sequoia Capital, Coindesk reported, citing a filing submitted on May 20 to the High Court in Hong Kong. (Updated on UTC 12:05 AM: a new section 'A bitter victor Read more »
  • Check This Bitcoin Pizza Day Chart: BTC Moons by 320,000,000%
    For the last nine years since the inception of this crypto holiday, the price of Bitcoin on this very day, May 22, would show a substantial rise from the previous year, save for three instances, in 2012, in 2015 and in 2019 (but the day is not over yet.) This date is celebrated as the day when we all remember how, on this day in 2010, programmer Laszlo Hanyecz paid another Read more »
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