BLOCKCHAIN

Samsung-Backed Blockchain Firm Launches in UAE After Securing $16M

[ad_1] Blocko, a South Korean blockchain provider, launched in the United Arab Emirates after securing $16 million in funding.Building full-scale enterprise blockchain solutionsOn Oct. 2, Middle Eastern business publication Arabian Business reported that Blocko has partnered with SEED Group, a member of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum in the UAE. Before launching in the UAE, Blocko raised a total of $16 million through two separate funding
EXCHANGES

German Bank Predicts BTC at $90,000 After Next Halving

[ad_1] You wouldn’t expect a traditional financial institution to come up with a very optimistic forecast about the future of a cryptocurrency or an honest appraisal of its design. But Bayern LB, a lender based in the rich German province of Bavaria, has surprised the crypto community. In a recently published research paper, the bank asks a rather rhetorical question: “Is Bitcoin outshining gold?” and predicts a tenfold increase in
BLOCKCHAIN

US Lawmakers Ask Federal Reserve About National Digital Currency

[ad_1] Members of the United States House of Representatives Financial Services Committee asked the Federal Reserve whether there are any plans of launching a U.S. dollar digital currency.Fed has the mandate to develop a national digital currencyIn a Sept. 30 letter to Federal Reserve Board Chairman Jerome Powell, U.S. Representatives French Hill and Bill Foster expressed concerns that the importance of the U.S. dollar could be in jeopardy “from wide
Business

US State of Ohio Suspends Service for Paying Taxes With Bitcoin

[ad_1] Ohio Treasurer Robert Sprague announced the immediate suspension of the OhioCrypto.com website that allows businesses to pay taxes with Bitcoin (BTC).In an Oct. 2 press release, Sprague announced that according to an internal review, approval by the Board of Deposit was required before Ohio launched the website that allowed businesses to pay taxes with digital currencies. Furthermore, the State Board of Deposit has asked Attorney General Dave Yost to further
BLOCKCHAIN

Leading Japanese Firms Form Security Token Offering Association

[ad_1] Leading Japanese companies are forming a regulatory association for security token offerings (STO).On Sept. 30, the Nikkei Asian Review reported that firms such as SBI Securities, Nomura Securities, Monex Group and Daiwa Securities Group are part of the STO association that will propose a new set of rules and seek approval from the country’s financial watchdog organization, the Financial Services Agency.STO’s are set to become a new way of
Business

Markets Trading Flat After Fake Breakout, Bitcoin Hovers Around $8,300

[ad_1] Wednesday, Oct. 2 — After a fake breakout, where Bitcoin (BTC) jumped upwards from a seven-day low of $7,746 to $8,480 from Sept. 29–Oct. 1, BTC slowly retraced to its current price level.Cryptocurrency market daily overview. Source: Coin360One week since Bitcoin suffered from double-digit losses, the coin is back to trading sideways, at a similar price point as seven days ago. The most popular crypto coin was showing bullish price
EXCHANGES

Trump Pressures Fed for More Rate Cuts as Mega Banks Drain the Balance Sheet

[ad_1] U.S. President Donald Trump is pressuring the central bank to cut interest rates even further as a spike in oil prices has offset the Federal Reserve’s ‘normalization’ tactics like rate-cutting and overnight repos. Additionally, the mega bank JP Morgan Chase (JPM) is being blamed for the lack of liquidity in the repo market’s cash reserves, as JPM’s recent reduction move accounted for a third of the Fed’s bank reserves
ALTCOIN

The Final Frontier for Global Crypto Adoption

[ad_1] Earlier in September, Cointelegraph reported that Israeli cybersecurity startup GK8 had raised $4 million to finance its offline cryptocurrency transaction solution. The company developed a cold wallet with “hot wallet functionalities” that is completely shielded from online hackers because it does not require an internet connection. Apart from creating additional security layers, offline transactions could, in theory, enable complete censorship resistance for cryptocurrencies. Being able to sign, send, validate, receive and record
BUY/SELL

Why Did Bitcoin Break Down From $9,000, and Where Is It Heading?

[ad_1] As Bitcoin’s (BTC) price floats in the waters of uncertainty in the low $8,000 range, one might wonder how crypto’s largest asset found itself at the bottom of a steep drop after its exuberant price rise from $3,330 to $13,880 earlier in 2019. One explanation could be that the move was simply the market’s reaction to a chart pattern many experts had their eyes on for months. After its June