Steemit Inc., the company behind Steemit, a popular social media platform that rewards content creators with cryptocurrency has laid off close to 70% of its team in a restructure.
The last 24 hours has been a lot kinder to cryptocurrency markets than the fortnight prior that saw $90 billion wiped from the industry’s market capitalization.
Securities and Exchange Commission Chairman Jay Clayton wants to see some major changes in the cryptocurrency markets before he can be “comfortable” with the idea of approving a Bitcoin ETF, according to a report from CNBC. Speaking at the CoinDesk Consensus invest conference this week, Clayton said that improvements need to be made in areas like market surveillance and cryptocurrency custody.
Edward Snowden has said that even if Bitcoin’s allure fades, decentralized currencies’ utility in transferring value outside of traditional banking networks will continue with newer iterations.
Coinbase has announced that its Coinbase Wallet will now provide support for Ethereum Classic (ETC). The company’s blog announcement confirmed that the wallet app is expected to update “in the next few days.”
According to information obtained by the Telegraph, The UK’s Financial Conduct Authority (FCA) has dramatically increased its scrutiny of cryptocurrency companies as part of a broad effort to clean up the industry. In response to a Freedom of Information request, regulators revealed that they have investigated a total of 50 crypto-related companies, more than double the amount reported just six months ago.
As the Bitcoin price fell further yesterday to below the $4,000 dollars for the first time since late September 2017, some vocal industry insiders are saying this looks more like a cyclical correction than a bursting bubble.
Starting tomorrow, businesses operating in the U.S. state of Ohio will have the option to pay their taxes using Bitcoin. The new option is part of the Ohio Treasurer’s efforts to provide cutting-edge innovations and services to taxpayers in the state.
Genesis Trading CEO Michael Moro believes that the Bitcoin price may not find its bottom until it drops down to $3,000, and that the current $4,000 dollar level may not hold much longer.
Earlier this year, there were reports that the U.S. Department of Justice had launched a criminal probe into the cryptocurrency industry, focusing on spoofing, wash trading, and other illegal practices. This week, Bloomberg reported that the DOJ is now examining whether Tether trading played a role in illegally manipulating prices for the world’s most well-known digital currency:
Overstock shares have soared 26% on the news that the company plans to sell its retail business to make way for a forward-looking bet on blockchain.
DNotesEDU has announced the release of its Global Digital Currency Industry Insight Report, a 45-page examination of the cryptocurrency industry that covers a broad range of blockchain and crypto-related technologies, trends, and potential risks.
A recent report is suggesting that teenagers are rapidly adopting cryptocurrencies and digital assets, which could have big implications for the future of finance.
Bitcoin’s price may have plummeted in recent days, but that crash seems to have done little to quell Fundstrat Global Advisor co-founder Tom Lee’s bullish outlook on the world’s most popular cryptocurrency. During an appearance on CNBC’s Squawk Box on Tuesday, Lee predicted a price recovery and stood by his most recent forecast suggesting a year-end Bitcoin price as high as $15,000.
When the UK government’s cryptocurrency taskforce reported to the government in late October, one of its recommendations advised officials to consider a complete ban on crypto derivatives like CFDs, futures, and options. UK Financial Conduct Authority (FCA) Executive Director of Strategy and Competition Christopher Woolard has confirmed that regulators will consider such a ban, according to Finance Magnates.
The NYSE’s parent company, The International Exchange (ICE) has postponed the launch of its Bitcoin futures product on its upcoming Bakkt platform to Jan. 24, 2019, according to a public notice from the company.
Switzerland’s largest stock exchange SIX is readying a new blockchain-based trading platform that they claim could replace the company’s current trading system entirely within ten years, according to a November 14 Reuters report.
Hong Kong-based cryptocurrency exchange OKEx angered many traders last week with a controversial decision to force early settlement of Bitcoin Cash futures contracts. The exchange made the move without warning, altering the set terms of $135 million in futures contracts.
Cryptocurrency markets endured another hammering in the last 24 hours, as the Bitcoin price fell to its lowest level since October 18, 2017 to lead the wider market bleed totaling $18 billion.
Singapore based digital asset exchange Kucoin has completed a $20 million Series A funding round with participation from IDG Capital, Matrix Partners and Neo Global Capital, according to a November 14 post to the company’s website.