china Cryptocurrency News Foxconn Huawei 

China Guarantees Citizens On-Demand Anonymity With State Digital Currency

The digital currency will allow anonymity to users… but only to an extent. Analysts are predicting the government-backed crypto will be out early next year. Blockchain efforts by the People’s Bank of China have ramped up in recent weeks. China has brushed aside concerns that its planned government-backed crypto will be used to keep tabs on the activities of its citizens. Allegedly, users of the centralized digital currency will be guaranteed ‘controllable anonymity’ as long as they are not engaging in illegal activities. This is according to the head of…

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bitmain Cryptocurrency News Yang Zuoxing 

Chinese Police Investigate Ex-Bitmain Employee for Bitcoin Miner IP Theft

Yang Zuoxing, CEO at MicroBT, is under investigation by the local police. The investigation is allegedly related to a dispute over Bitmain’s intellectual property rights. Yang nor MircroBT have released an official statement. A former Bitmain employee, Yang Zuoxing, is under investigation by the local police in China. The case appears to be related to a dispute involving the intellectual property rights of the mining giant corporation. Open Investigation According to a report by the Chinese news outlet BlockBeat, Yang Zuoxing, the CEO at MicroBT, has been taken into custody…

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bitfinex Cryptocurrency News Tether 

Tether Fires Back at ‘Embarrassing’ Bitcoin Manipulation Study

Tether has fired back at the authors of a study who claimed that the 2017 bull market was triggered by Bitfinex. The Tether team claims that the authors do not know how the cryptocurrency market functions. Tether assures that it never conducted activities with the purpose of manipulating the cryptocurrency market. Tether issued an official response to a research paper that claimed that a single market whale on Bitfinex manipulated the price of bitcoin in 2017. A Lone Bitcoin Whale On Nov. 4, Bloomberg shared a study that claimed that…

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china Cryptocurrency News 

China’s Central Bank Supports Blockchain, but Here’s Why It Won’t Impact Crypto Prices

The People’s Bank of China (PBOC) and the Shanghai commerce commission have issued a joint statement signaling their support for blockchain use in commerce. China Goes All-In on Blockchain According to the agencies, decentralized technology can be used in trade finance to resolve asymmetries and validate transactions. In the published document, the two government institutions underscore the cost-effectiveness of blockchain systems, while affirming their appropriateness in international trade. Just two weeks ago, Chinese President Xi Jinping proclaimed the need to develop blockchain technology. Speaking at a gathering of the Political…

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Bitcoin Exchange bitfinex Cryptocurrency News kim dotcom 

Bitfinex Postpones Kimcoin’s Token Sale Until Further Notice

Bitfinex postponed the sale of Kimcoin indefinitely. The regulatory framework in the industry is affecting initial exchange offerings. Kim Dotcom tried to avoid countries within the U.S. jurisdiction. Bitfinex, a Hong Kong-based cryptocurrency exchange, announced its decision to postpone the initial exchange offering (IEO) of Kimcoin, the native cryptocurrency of the content monetization platform K.im. Halting Kimcoin Token Sale On Nov 5, Bitfinex revealed in a blog post that the first IEO on the rebranded platform Bitfienx Token Sales, formerly known as Tokinex, would not take place. The decision was…

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bitcoin Cryptocurrency News Market News Opinion ray dalio 

Ray Dalio Says ‘World Has Gone Mad’ and Bitcoin Crowd Cheers

Ray Dalio is making many friends in the crypto community after sounding the alarm about the perilous conditions in the financial system. In a post entitled “The World Has Gone Mad and the System Is Broken,” the billionaire hedge fund manager outlines why something has to give amid unsustainable circumstances comprised of free money, government deficits,  underfunded pension and healthcare systems, and a rising wealth gap. Dalio mentions bitcoin zero times. But he strikes the right chords with themes such as the Fed printing money and the threat of “three…

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bitcoin Cryptocurrency News reddit 

Reddit Roasts $500k Lottery Winner Who Invested Half in Bitcoin

An Illinois man provides proof of his $500,000 in lottery winnings and claims he put half of them in bitcoin. Reddit roasts the man with crypto memes and says he made several crucial mistakes. Either way, his investment has already paid off with an almost 100% return. An Illinois man who won the lottery earlier this year has invested half of his winnings into bitcoin. The man who posted the score via Reddit confirmed on Monday that he had purchased roughly $178,000 worth of BTC back in May. He also…

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Altcoin News Cryptocurrency News Opinion Stellar 

Stellar (XLM) Dumps Nearly 10% As FOMO Rears Its Ugly Head

Stellar (XLM) explodes amid news that the company burned more than half of its coins in circulation. Tuesday’s gains were quickly wiped out as the smart money took the chance to dump their positions. Nevertheless, the cryptocurrency looks attractive in the long-term time frame. In technical analysis, there’s an adage that goes, “buy the rumor; sell the news.” We’re seeing this nugget of wisdom in play out in Stellar (XLM). On Monday, the Stellar Development Foundation announced that it burned more than half of the Lumens in circulation. Supply went…

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Altcoin News bitcoin bitfinex Cryptocurrency News Tether 

Bitfinex Sparks Controversy Allegedly Manipulating $20,000 Bitcoin Price High

Bitfinex, which shares co-founders with the Tether stablecoin, is once again attracting controversy over the manipulation of the Bitcoin price. Per a paper published by the University of Texas Professor John Griffin and Ohio State University’s Amin Shams, Bitcoin’s run to a record high near $20,000 in 2017 was caused by a single market whale. Bitfinex whale manipulating Bitcoin price surges Initially reported by Bloomberg, the paper, which is an update on an earlier one by the same authors, states that the single market whale operates on Bitfinex with the…

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bitcoin Cryptocurrency News Ethereum XRP 

Bitcoin, Ethereum and XRP Prepare for Volatility; Bullish or Bearish?

Bitcoin and Ethereum are consolidating within a narrow trading range. Bitcoin may have resumed its macro-uptrend, said a renowned technical analyst. XRP prepares for a major event that could trigger an increase in demand. Last week, the total crypto market capitalization surged over 40% to reach a high of $267 billion. During this time, approximately $77 billion was injected into the market. Bitcoin jumped over 42% while Ethereum and XRP rose nearly 30%. Despite the bullish impulse, these cryptocurrencies entered a consolidation phase and could be on the verge of…

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