Binance Announces New Stablecoin Venus

This article was originally published by 8btc and written by Lylian Teng. One of the world’s largest cryptocurrency exchanges, Binance, has announced a plan to launch an open blockchain project called “Venus,” an initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe. As per the announcement published on August 19, 2019, the localized stablecoin initiative will leverage the exchange’s existing infrastructure (such as its public chain Binance Chain and cross-border payment systems), wide user base and established global compliance measures. Bearing a similar vision…

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Fidelity Charitable Surpasses $100 Million in Cryptocurrency Donations

Fidelity Charitable, the humanitarian division of financial services company Fidelity Investments, has crossed the $100 million threshold in donations via cryptocurrencies.  The revelation was made in its annual report, which showed crypto donations totalling about $106 million since 2015, when this asset class was added as a donation option. The charitable organization accepts donations in litecoin, ether and bitcoin cash, but has received the majority of its cryptocurrency donations in bitcoin. It has also recently announced that it will accept XRP donations. According to the report, cryptocurrency donations appear closely…

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Bakkt Sets September Launch Date for Bitcoin Futures

Bakkt has announced that it will be launching its bitcoin futures trading platform in September 2019.  In a blog post published on August 16, 2019, the cryptocurrency trading company announced that its long-anticipated futures product will be going live on September 23, 2019, following approval to create a qualified custodian trust company from the New York State Department of Financial Services (NYSDFS) The anticipation for Bakkt’s physically delivered futures has been high for quite some time. The company initially announced that it would launch the platform in August 2018, but…

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Bitcoin Price Analysis: Higher Lows Test Bullish Resolve

Summary: After a very strong round of selling that dropped the price almost $2,000 in just a couple of days, the market managed to find support at an important macro level. The support rally marked a third, higher high for our current market and it rallied on very high volume and spread. The market is currently situated between two strong levels and, until one of them gives way, it’s possible that we’ll see a strong bit of chop. If we manage to break the overhanging resistance the upside target lies…

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Craig Wright’s Motion to Dismiss Lawsuit Rejected Over Lack of Credibility

U.S. District Court Judge Beth Bloom has rejected Craig Wright’s motion to dismiss a lawsuit against him, primarily based on a perceived lack of credibility on his part. Craig Wright, the creator of Bitcoin Cash fork Bitcoin SV and the self-proclaimed true identity behind Satoshi Nakamoto, the pseudonymous creator of Bitcoin, has long been a contentious figure in the crypto asset space. The cryptocurrency community has largely condemned Wright’s lack of evidence to prove this claim. Nevertheless, Wright has aggressively defended his claim, even going so far as to pursue…

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IRS Sends Warnings to Crypto Investors Over Misreported Trades

The U.S. Internal Revenue Service (IRS) is stepping up a campaign to send warning letters to cryptocurrency investors, urging them to make sure that they have accurately reported all transactions for tax purposes. This process started in late July 2019 with a series of “soft notices” delivered to cryptocurrency investors. More than 10,000 such notices were sent out in the first wave, with the goals of informing potential tax code violators that the IRS is concerned about discrepancies and of urging taxpayers who have conducted cryptocurrency transactions to ensure they…

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As Regional Adoption Grows, Bitcoin Leads the Way for Colombia

According to a July 2019 survey conducted by Paxful, a peer-to-peer bitcoin exchange serving Latin America, more than 86 percent of Colombians surveyed indicated familiarity with cryptocurrency, and bitcoin is leading the way.  According to Paxful data shared with Bitcoin Magazine, the online public survey garnered 1,011 total participants. Of these, 94 percent were between the ages of 18 and 54. Participants skewed 62 percent female. It was conducted with support from Toluna Insights. More than 79 percent of the respondents indicated that they were familiar with bitcoin, while privacy-focused…

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Bitcoin Price Spikes in Argentina, Hong Kong

Data gathered by Bloomberg reveals that, despite a recent global drop-off in cryptocurrency price, bitcoin is attracting investment from Argentina and Hong Kong. The report, published on August 13, 2019, examined the value of bitcoin trades on various cryptocurrency exchanges, including LocalBitcoins.com, claiming that bitcoin has been trading at a 4 percent premium in Hong Kong and a 10 percent premium in Argentina, even as the value of bitcoin worldwide has dropped by 8 percent in the past week. The value of the Argentine peso has plummeted by as much…

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With MoonRekt, You Can “Play” Bitcoin Price Action

Hxro, the company behind the crypto price prediction game MoonRekt, has announced an update to the platform that expands its wager offerings by adding bitcoin. The gaming startup announced that MoonRekt will now allow players to play with and get paid in bitcoin, per a press release. The game lets people “play” bitcoin price action in five-minute windows, with social interaction in chat rooms and “sentiment multipliers” helping their scores. “Expanding our platform to accept Bitcoin was always part of the plan,” Dan Gunsberg, CEO and co-founder of Hxro, noted…

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Coinbase Acquires Xapo’s Custody Arm for $55 Million

Cryptocurrency exchange Coinbase has completed the acquisition of Xapo’s custody business in a deal reportedly worth $55 million. Coinbase announced this acquisition on August 15, 2019, noting that the acquisition will help prop up Coinbase Custody, which has over $7 billion worth of assets stored for more than 120 clients.  Xapo is a Hong Kong-based company that provides bitcoin cold wallet storage services. As of May 2019, it had close to $10 billion worth of bitcoin stored in underground vaults, according to Bloomberg. Fortune reported that the exchange had some…

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