Winklevoss Reach Settlement With Charlie Shrem
The Winklevoss twins reached a settlement with Charlie Shrem on April 16, 2019, declaring that their case against him has been dismissed with prejudice and will not be reopened.
The twins, who founded the Gemini cryptocurrency exchange, originally sued Shrem, the founder of early bitcoin company BitInstant, in November 2018, alleging that Shrem stole 5,000 bitcoin from the pair in 2012. They asserted that Shrem agreed to build a stockpile of cryptocurrency for them at their expense but then came up short by nearly $60,000 in bitcoin at the contemporary market rate, keeping this portion of the hoard secret until its worth grew to the tens of millions of dollars.
As the...
Crypto Analysis - Litecoin Price Running Out of Gas After Rally
Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: "CCN+Hacked". Sign up here.
By CCN: The litecoin price has been one of the cryptocurrency market’s top performers in 2019, climbing a ridiculous 162 percent since the new year.
Among large-cap cryptoassets, only binance coin has performed better, and litecoin’s year-to-date rally leaves the bitcoin price’s 40 percent advance in the dust. However, one team of crypto analysts says the sixth-largest cryptocurrency looks poised for a sell-off.
Litecoin Price Likely to Crash Through Support – And That’s OK!
Writing in a note to clients on Wednesday, crypto brokerage BitOoda said that a downward wedge has begun to form on the litecoin chart, suggesting that the cryptocurrency could be on the verge of a short-term breakdown. That sell-off would likely cause the litecoin price – which currently holds near...
Ripple Confirms Crypto-Powered xRapid ‘Global Expansion’ Plans
By CCN.com: Asheesh Birla, the senior vice-president of product at San Francisco-based Ripple, recently revealed that the company has aggressive expansion plans for xRapid, its XRP-powered crypto remittance platform.
Ripple’s vision of changing the payments landscape
During an ask-me-anything session hosted by Ripple’s Ginger Baker, Birla said that the company is in the process of expanding its cross-border payments platform to more countries across the globe. He said:
On demand liquidity is available today in Mexico and the Philippines. So far, the positive responses from our customers in those two countries has (sic) been overwhelming. But we are working on the next set of destinations, which we will be announcing in hopefully short order here.
I know our product teams and marketing and engineering teams are working hard to light up those next set of destinations so that we can provide our customers with increased choice in terms of global expansion.
Ripple can partner with cryptocurrency exchanges across the globe that are capable of accepting fiat currency from banks. It then converts fiat money into XRP and transmits it to the destination, where it is instantly converted back into fiat.
Quick and Easy Way to Multiply Your Portfolio (and Protect it) with Crypto Lending
The moment the crypto community has been waiting for has finally arrived, (for now). Out of nowhere, Bitcoin has demolished resistance levels and the crypto market is showing bullish signals. In times like these, your portfolio will multiply by itself, but if you really want the most out of this bull run, let’s see how crypto lending can help. Alternatively, we’ll show you a few tips to hedge your portfolio in case this “pump” becomes a “dump.”
HOW TO BUY MORE CRYPTO FAST IN A BULL MARKET: YOUHODLER
In both bullish and bearish markets, time is an important factor. Depositing fiat money from a bank to crypto exchange can take too long. To really capitalize on market movements, you need cash and you need it quick. YouHodler’s FinTech platform offers a lightning-fast solution for crypto lending users. After signing up and passing a quick KYC procedure, users can put up their crypto as collateral (BTC, BCH, BSV, ETH, LTC, XRP, and XLM) and receive a cash loan in minutes.
HOW TO MULTIPLY YOUR CRYPTO IN A BULL MARKET
Let’s use an example. You have 100 LTC and you want to use that as collateral for a cash loan. In exchange, you get around $5,000 without having to sell your LTC assets. If the market is bullish like it is now, you can use this loan to buy more LTC, effectively multiplying your holdings. If the market keeps growing, the gains...
Coinbase Confirms Extent of $255 Million Crypto Insurance Coverage
Coinbase has revealed the details of its insurance arrangements for cryptocurrency held on customers’ behalf, a rare move in an opaque market.
In a blog post published Tuesday, Philip Martin the exchange’s vice president of security, confirmed that it is covered for up to $255 million for coins held in so-called hot wallets – in other words, assets which are essentially online and open to potential hacks. CoinDesk first reported in November that Coinbase’s coverage was in this ballpark.
San Francisco-based Coinbase holds less than 2 percent of customers’ assets in hot wallets, with the remaining 98 percent at arm’s length from third-party attacks in cold storage, where the private keys are offline, the company told CoinDesk. (At its height during the crypto bull market, the company stored $25 billion worth of assets on customers’ behalf, but the company would not provide a recent figure.)
This policy was placed by Lloyd’s registered broker Aon and sourced from a global group of US and UK insurance companies, including certain Lloyd’s of London syndicates, Martin’s blog post said. He did not name the individual underwriters.
Lloyd’s, which gathers under one roof a range of specialist insurance markets dealing with everything from crime and cyber attacks to natural disasters, is viewed as a seal of approval when it comes to underwriting potential losses of crypto assets.
Previously secretive about publicizing anything about insurance of digital assets, Lloyd’s is steadily becoming more visible, for a certain class of crypto customer at least.
For instance, last month security specialists BitGo trumpeted $100 million of cover for crypto held in cold storage and went as far as naming the lead Lloyd’s underwriter of the policy.
In fact, much of Martin’s post could be read as a veiled dig at BitGo, since he talks about “recent news and announcements” around crypto insurance, suggesting a lot of “confusion” still exists. He then advises firms to focus on hot wallet cover as opposed to cold storage, where value is “at rest” and therefore not so much at risk.
Regarding Coinbase’s blog post, Clarissa Horowitz, VP marketing, BitGo, told CoinDesk via email:
“We’re glad to see that Coinbase is following our lead in bringing more transparency to the discussion of insurance for digital assets. Insurance is complex and transparency is essential for building...
A16z Placing Bigger Bets on High-Risk Assets – Including Digital Currencies
Andreessen Horowitz can now back crypto startups with potentially up to $1 billion, after reportedly making some recent internal changes.
The company’s founders – Marc Andreessen and Ben Horowitz – told Forbes that they had registered all of its 150 employees as financial advisors, so as to allow them to place larger bets and invest more heavily into high-risk asset classes, such as cryptocurrencies.
As such, A16z is shifting away from being a traditional venture capital firm, with its 150 employees each becoming a financial advisor.
According to Forbes, the company can now put as much as $1 billion in these riskier bets, such as cryptocurrency or other digital assets. The firm can also “buy unlimited shares in public companies or from...
Brian Kelly Reveals Just How High This Bitcoin Rally Will Go
The crypto bulls are out in full force, and price predictions are back. Crypto trader Brian Kelly has consistently stuck up for bitcoin, even during the market downturn. Now BTC is returning the favor with today’s double-digit percentage rally. Kelly has taken his cue, telling CNBC that the $6,000 to $6,500 range is the new resistance and that’s exactly where the bitcoin price is headed:
“Probably a reasonable target is close to $6,000 for this move.”
Based on fundamentals, bitcoin could rise as high as the $6,500 to $6,800 range before there’s even a hint of it being overvalued in the current cycle. Kelly believes that at the very least, the market has begun to put in a bottom based on historical patterns. He points to a shift in sentiment, one that includes institutions and one that is being fueled by a trifecta across fundamentals, technical signals, and quantitative analysis that his firm BKCM performs.
Bitcoin is blossoming this spring! @BKBrianKelly weighs in on what’s behind today’s 15% move pic.twitter.com/t7sWLycc7r
— CNBC Futures Now (@CNBCFuturesNow) April 2, 2019
Bitcoin ETF Rumors Percolate
It’s important to note that much of the gains in the bitcoin price appear to be being fueled by the technical signals, both...
Bitcoin’s Rally Caused This Nasdaq Stock to Surge 20%
As Bitcoin’s sudden rally higher captures the world’s attention, it is not only the cryptocurrency investment that is racing back into the light. Any company associated with BTC is experiencing a green day, and naturally, Riot Blockchain (RIOT) is no exception. Despite fading a lot of its daily gains, the crypto mining outfit is still up more than 20%, outperforming most cryptocurrencies.
Riot Blockchain Lives and Dies With the Bitcoin Price
Most articles in the mainstream financial media are pushing the “no-one knows” line about the rally in the Bitcoin Price. Anyone who read this article on CCN yesterday knows that BTC/USD was on the verge of breaking a significant technical level. In an illiquid market where everyone is watching momentum and price action way more than they look at fundamentals, a mass of trend following orders would naturally spike the market aggressively.
Understanding what would cause appetite for Riot Blockchain to surge higher is even more straightforward. They...
Here come the crypto trading algorithms
After spending a few decades on the street I got to see first-hand how the trading algorithm revolution lead to sophisticated and complex strategies that were necessary to execute trades efficiently and effectively. This revolution is coming to cryptocurrency.
First, let’s define what a trading algorithm is—simply put, algorithms are a method of executing orders using a set of rules based on a multitude of dimensions (volume, time, venue) in order to fan out orders to accomplish certain objectives (speed, secrecy, price).
The most important thing to remember is that not all algos are created equal. That’s why we’ve assembled a team of street veterans with experience crafting algorithms for some of the most successful shops.
Our algorithms include a blend of well-established algorithms along with custom algorithms created by our team. Unlike most existing cryptocurrency algorithms, all of our algorithms execute across multiple venues. Our algorithms can be blended according to each individual trader’s strategy.
- BASKET - Executes multiple trades of multiple coins simultaneously and over a period of time using TWAP or other time-based strategies.
- TWAP (Time Weighted Average Price) - Executes trades evenly over a specified time period
- VWAP (Volume Weighted Average Price) - Executes trades evenly based on trading volume.
- THOR - Executes one order across multiple venues so they arrive at each venue at the same time to minimize market impact.
- ICEBERG - Executes orders in random slice sizes over a period of time over multiple venues to minimize market impact.
- Pairs Trades - Executes two trades of individual coins while maintaining a balance between the long and the short side of the trade.
- IWAP (Information Weight Average Price) - A custom Mainbloq algorithm that trades in windows of fixed notional while varying the duration.
- ISR (Implementation Shortfall Reducer) - A custom Mainbloq algorithm that reduces slippage and balances market impact by controlling the rate of execution.
These algorithms are just the start. We’re crafting sophisticated strategies to ensure our clients can execute effectively and efficiently. We also work with our clients to create tailored algorithms so they can execute their trading strategies.
Our mission at Mainbloq is to bring the sophistication of traditional finance to digital assets. Our streaming smart order router is the most efficient way to trade cryptocurrencies across multiple exchanges. Our algorithms help traders execute their strategies smarter. You might be thinking, what comes next? You’ll just have to wait and see...
Overstock’s tZERO Exchange to Launch Bitcoin Trading App This June
Overstock’s security token platform tZERO is going full crypto.
Until now, security tokens had been the startup’s priority, but this summer, tZERO plans to launch its own mobile trading app for buying and selling bitcoin and, possibly, ether, CEO Saum Noursalehi told CoinDesk Thursday.
The app for IOS and Android devices is scheduled to launch in June and is being developed by Bitsy — a crypto startup in the portfolio of Overstock’s venture arm Medici Ventures.
“That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app,” Noursalehi told CoinDesk, adding:
“They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login.”
The app, he added, will allow users to hold custody of their crypto without relying on a third party, and will plug into a network of exchanges through tZERO’s partner, institutional trading platform SFox.
tZERO’s app will connect to SFox’s network of exchanges via its...