Crypto News

Controversial crypto platform Tether is planning on launching a Chinese Yuan-pegged stablecoin, according to reports in China today.

The stablecoin, which will be known as CNHT, will be the fourth stablecoin in Tether’s portfolio after ones backed to the US dollar (USDT), Euro (EURT) and the Japanese Yen (JPYT). The company’s plans were revealed by Zhao Dong, a shareholder in Bitfinex, which shares the same senior personnel as Tether, via Chinese social media platform WeChat. Dong also said that his peer-to-peer crypto lending company, RenrenBit, will support trading and deposits of CNHT. It ...

Bitcoin is taking a hit this morning and fell over 8% to below $9,800. Here is the key driver.

Tech giant Facebook (NASDAQ:FB) announced in June that it was going to launch its own cryptocurrency named Libra and ever since the announcement, the crypto market has been in a bit of turmoil. It attracted attention from top regulators in the United States and even the United States President Donald Trump criticized the project in one of his tweets.

The uncertainty resulted in fluctuations in the price of Bitcoin and affected the wider crypto market ...

One of the cryptocurrencies that has quietly become one of the strongest tokens is XRP. Much of the credit for it perhaps goes to the company Ripple, which manages the cryptocurrency and has managed to sign significant deals that have XRP at its center. It has signed plenty of deals over the years, and that makes it possible to look upon XRP as a cryptocurrency which has a use case.

Some leading financial institutions are conducting pilot tests on the product while money transfer company Moneygram has already announced a deal earlier this year. The Moneygram ...

In the past few days, the altcoin market has taken a beating with major cryptocurrency assets such as Ethereum (ETH) and Ripple (XRP) dropping to fresh lows. This has caused widespread panic in the industry, and many crypto investors are beginning to believe that a bottom for altcoins will be set.

However, one cryptocurrency analyst sees Ethereum dropping even more by over 20% and that the real altcoin capitulation will begin in two weeks. Ethereum has lost significantly since the ICO boom that brought the price per ETH to ...

VANCOUVER, British Columbia, Aug. 21, 2019 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) successfully filed its annual consolidated financial statements for 2018 along with its MD&A on Friday, August 16th, 2019. The Company will also be filing its interim financial report and MD&A for the quarterly period ended March 31st, 2019 on or before Friday, August ...

VANCOUVER, British Columbia, Aug. 21, 2019 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) successfully filed its annual consolidated financial statements for 2018 along with its MD&A on Friday, August 16th, 2019. The Company will also be filing its interim financial report and MD&A for the quarterly period ended March 31st, 2019 on or before Friday, August ...

INX ltd, a crypto exchange startup, has announced plans to raise up to $130 million USD through an Initial Public Offering (IPO).

INX has developed a regulated platform for cryptocurrency trading and an alternative trading system for security tokens, which it hopes will become a one-stop-shop crypto services platform. The move to raise money through an IPO is quite unusual by market standards, as generally crypto startups tend to raise capital via Initial Coin Offerings (ICO). On Monday, the company filed a draft prospectus with the US Securities and Exchanges Commission to sell 130 million of ...

The cryptocurrency industry may be popular, but that doesn’t mean it has seen mass adoption. Even Vitalik Buterin, the creator of Ethereum, agrees. Speaking to The Toronto Star recently, the 25-year old multimillionaire provided reasons why he thinks crypto adoption has yet to catch on.

Yesterday, The Star posted an article focusing on Buterin’s thoughts on why crypto adoption has yet to happen and what the industry can do to boost the adoption of virtual currencies.

One of the main issues Buterin discussed with crypto adoption is ...

Bitcoin enjoyed one of the strongest runs since the latter part of 2017 during the first half of this year. During those first six months, the cryptocurrency gained in each of the six months of the year, but the momentum came to an end in July, and the indecisive performance has continued into August. The token has threatened to break out plenty of times during the course of this month, but the rally eventually fizzled out, and the same thing happened again.

Over the course of the weekend, Bitcoin managed to break ...

Multinational consultancy firm Deloitte has announced the release of its “Blockchain in a Box” platform that hosts demonstrations and experiments of distributed ledger technology in business applications.

According to the company’s press release on August 9, the development of the “Blockchain in a Box” BIAB platform was inspired by customer interest in understanding the potential of distributed ledger technology in real-life circumstances. Business start-ups find it hard communicating to stakeholders about the unique benefits of blockchain and therefore Deloitte will be looking to fill that gap with its BIAB platform. The ...

Over the course of the past couple of years, Ripple has forged a range of partnerships with major banks and financial institutions with one single aim. The main aim of forging these partnerships has been to make the cryptocurrency XRP the digital asset of choice for some of the leading financial institutions.

The Spanish banking giant Santander (NYSE:SAN) had been one of the first major banks to sign up with Ripple back in the day and currently uses the xCurrent software to facilitate payments through the One Pay FX service. Until yesterday, the service could only ...

Telegram’s eagerly awaited blockchain, Telegram Open Network (TON), is set to be launched on October 31. However, the yet-to-be issued tokens are already trading on an unauthorized secondary market.

Investors are already seeing returns as high as 400% on Telegram tokens, known as grams; however, secondary buyers run the risk of their investment being worthless, as a clause in the initial offering of grams prevents their resale in any way before the launch of TON. The company is also running on a deadline, and if TON doesn’t launch by ...

One of the largest cryptocurrency exchanges in the world is taking on social media behemoth Facebook (NASDAQ:FB). Well, sort of. On Monday, August 19, Binance announced it will be launching the Venus blockchain project.

Here’s what we know and why Binance is challenging Mark Zuckerberg’s billion-dollar company by doing so.

This morning, news broke that Binance is launching the Venus blockchain project; the initiative is an attempt to create localized stablecoins as well as digital assets. According to the announcement, the Venus blockchain project will leverage the crypto exchange’s ...

Since the infamous day of 2017, when Bitcoin went on its incredible run, there has been talk of the introduction of a financial exchange backed by the world’s biggest cryptocurrency. One of the instruments that have been spoken about by crypto experts for many years are crypto futures from Bakkt, but delay after delay stopped this from happening—until now.

Over the past few years, nothing came to fruition despite several rounds of talks among regulators in the United States, and so, the product was not introduced. However, it seems that the wait ...

The cryptocurrency industry has grown at a breakneck pace over the past two years or so, largely due to the growth of Bitcoin and other tokens. Due to such growth, many companies have been established that provide highly specialized services related to crypto wallets as well as exchanges. Wallets help people to store their crypto safely, while exchanges are the marketplaces where anyone can buy a cryptocurrency.

Japanese retail behemoth Rakuten saw the opportunity early on and has already established the Rakuten Wallet as one of its subsidiaries. Rakuten Wallet is a crypto exchange, and today ...

Litecoin (LTC) has been in the news over the past few weeks ever since it had announced the highly polarizing halving event. Miners used to get 25 LTC for each completed block, but from now on they will be rewarded with 12.5 LTC for the same job. It was a controversial move, and experts had either panned the move or stated that it will have a positive effect on the price of Litecoin.

The price of the coin remained unaffected after the halving event, but the price action remained tepid. However, a recent dusting ...

Bakkt, the long-awaited crypto services platform from the Intercontinental Exchange, is finally set for launch on September 23.

Despite being officially announced in August 2018, the platform only received a trust charter from New York State Department of Financial Services this week, which clears the way for the company to begin offering its highly-anticipated physically-settled Bitcoin futures contracts. Bakkt expects to serve a digital marketplace that moves $270 billion per year.

The Intercontinental Exchange, the parent company of the New York Stock Exchange, announced Bakkt a year ago with the intention ...

The cryptocurrency industry may still be going strong, but that doesn’t mean it hasn’t had its share of problems. Nor does it mean everyone is a fan of virtual currencies. The IRS certainly isn’t, and crypto investors have learned that the hard way the past two months.

Here’s what we know.

At the start of last month, the IRS began mailing more than 10,000 crypto investors informing (well, it was more of a warning) that they may owe taxes on various cryptocurrency transactions.

This week, word ...

When it comes to trading in cryptocurrencies, it is always far more effective if one can trade on a large exchange. Large exchanges offer a lot of options with regards to the range of cryptocurrencies, liquidity, and other services. Over the course of the crypto boom that started a few years ago, some exchanges have become the leaders of the industry and Binance is certainly one of those. It went on to become one of the biggest crypto exchanges and was also the preferred choice of many traders in the United States.

However, back ...

The first half of the year saw Bitcoin go on an incredible rally as the cryptocurrency ended up at higher levels at the end of each month and eventually threatened to replicate the bull run from 2017. However, the month of July brought its fair share of turbulence into the market, and it has been the same in August so far as well. The cryptocurrency has been extremely volatile over the past few weeks, but in a new development, it seems to have stabilized recently and has been trading within a narrow range.

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