Category: Blockchain

Following the charges slammed by the United States Security and Exchange Commission (SEC) against San Francisco-based startup Ripple last year, the XRP community has petitioned the regulator and its acting chairman Elad Roisman.  The lawsuit filed in the Rhode Island Federal Court on January 1, 2020, as published in a press release today, seeks a “writ of mandamus” from the court to limit the charges against the blockchain company. According to the announcement, the XRP community through Attorney John E. Deaton pleads with the court to direct Roisman to correct the ill decision taken by his predecessor Jay Clayton against

Flare Network is one platform that has a list of planned events waiting to be executed way before its launch date. In a recent tweet, the company revealed it would be integrating Litecoin ahead of the Flare network launch in Q2. The integration supposedly “allows LTC to be used trustlessly on Flare with Ethereum style smart contracts and gives LTC interoperability and composability.” Flare will be integrating Litecoin ahead of the Flare network launch in Q2. This will allow LTC to be used trustlessly on Flare with Ethereum style smart contracts and gives LTC interoperability and composability. #LTC #Unlockingvalue @LTCFoundation

For the first time in a while, BTC reached a new ATH on a weekday. The pump that propelled BTC to a new all-time high yesterday could be traced to a slight market dip on Monday. As Bitcoin dropped by 8% traders rallied the market and in no time pushed BTC back to $34k and kept pushing the price as it crossed various critical resistance levels.  BTC crossed the $40,000 resistance resulting in a new ATH of $40,383. Breaking ATHs is now a custom for Bitcoin! Many traders accepted the new ATH, while others are quick to sell their assets.

According to data on Nomics, daily crypto transactions on leading US-based financial service company PayPal has exceeded $125 million.  The trading volume, which has grown tremendously since the start of the year, saw itBit customers, the platform that handles PayPal’s crypto transactions, trade $128.91 million worth of cryptos in one single day, January 6, 2021.  Owned by Paxos, itBit provides access to an exchange, custody Service, and escrow services for Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), and Stellar Lumens (XLM).   Worth noting is that all the trading volume cannot be linked to only PayPal’s crypto transactions because itBit also

The Finland Custom Agency has decided to take advantage of the current crypto market bull run to sell off 1,981 bitcoins which is currently worth about $77 million that had been confiscated from various narcotics investigations.  In an interview on Thursday with local news outlet Yle, Pekka Pylkkänen, the agency’s Chief Financial Officer, disclosed that the sales would be conducted either directly by the agency or via a broker over the next couple of months.  Earlier last year, the agency could not decide what to do with the seized assets but has now decided to sell the cryptocurrency, taking advantage

Nexon, the leading South Korean online game developer, is currently planning to acquire the number one cryptocurrency exchange in Korea, Bithumb, for the sum of $594 million. According to a Thursday report by a local media outlet, Nexon had signed a Memorandum of Understanding (MOU) with Bithumb earlier this month to take over its shares in the exchange, which is about 65% of Bithumb’s total stake. The acquisition of Bithumb is said to have been directly led by Nexon’s CEO, Kim Jeong-joo. While processing the transaction, the 65% stake that Nexon has in Bithumb was calculated to be worth around

As the DeFi space continues to develop and increase, many entities are migrating into the industry to increase customers’ privacy. The most recent institute to transition into the DeFi space is the Switzerland-based digital assets trading company, ShapeShift.io. In a press release published on Wednesday, the digital assets trading company announced that it would be ditching its traditional Know Your Customer(KYC) protocol to welcome decentralized finance (DeFi) protocols. The company made this transition into DeFi to provide its customers with an increased level of anonymity since it will allow ShapeShift customers to run transactions on the exchange’s trading platform directly

While many former Bitcoin critics are becoming more tolerant of it, quite a few are still skeptical of the cryptocurrency. Some people like Jim Rogers do not believe that bitcoin is as great as its proponents deem it to be but see it as nothing but a bubble. The American investor based in Singapore and the CEO of Rogers International Commodities Index (RICI) recently revealed to ET NOW that he has never purchased nor owned any cryptocurrency owning to the history of some cryptocurrencies that have gone extinct. He said, “I have never bought any cryptocurrency. I wish I had

Many XRP holders scrambled for the exit in the aftermath of the SEC’s recent lawsuit against Ripple Labs, forcing the coin’s price to slump by over 60% within a few months. During that chaotic market stint, many Nexo users suddenly realized that they could no longer repay their loans on the platform using XRP assets. Nexo is a crypto lending and borrowing service that currently boasts over $4 billion in assets under management. Its primary product, the NEXO Credit Line, allows users to borrow fiat or stablecoins and then use crypto assets to deposit on the platform as collateral. The

As the price of Bitcoin continues to rise, a lot of speculations from both analysts and strategists about the price of the coin continues to increase too. The price increase has also led to some comparisons between Bitcoin and Gold. One of such predictors is a group of strategists from JPMorgan Chase & Co. The strategists, headed by Nikolaos Panigirtzoglou, mentioned that Bitcoin might reach $146,000 in the long term. However, for bitcoin to attain that price and equal with Gold, the cryptocurrency market cap would have to increase by 4.6 times