Latest Market News
The SEC has once again delayed its decision on whether to approve or reject the VanEck SolidX Bitcoin Trust. This development is not too unexpected, and the review period has been extended to February 27 next year. This is the deadline for the SEC to make its final decision on the proposal.
“When in doubt, zoom out” is becoming a bit of a tired phrase, but it does hold some merit if we consider that extreme price drops are not at all uncommon in the history of Bitcoin. To try and gain a better understanding of Bitcoin’s current woes, let’s take a look at the five largest Bitcoin price drops in history and consider some of the causes and narratives that surrounded them.
The Poloniex cryptocurrency exchange, which was acquired earlier this year by fintech company Circle, has announced the launch of institutional accounts. Institutional accounts differ from standard accounts because they allow higher withdrawal limits and are handled by a dedicated support staff.
From Betamax vs VHS, to Blueray vs HD DVD, recent history is full of format wars, and it seems like we could have another one brewing in the distributed ledger space.
Binance is building a decentralized cryptocurrency exchange for the Binance Chain platform, and the company has released a video giving us a sneak peek into what the exchange will offer, and also showcased a web wallet and a block explorer for Binance Chain.
The U.S. Department of Homeland Security, which was established in 2002 under the George W. Bush presidency, is considering backing the development of a product that would allow it to forensically analyze activity on blockchains of privacy-focused cryptocurrencies such as Monero and Zcash.
The market is currently attempting to stabilize after going through a significant loss of value as the prolonged bear run shows few signs of ending. However, development work continues to progress and the following week’s projects are set to benefit from a number of developments and launches that should result in an increased amount of attention, and strengthen their position during the current downturn.
In a recent interview on CNBC’s Squawk Box, Digital Currency Group CEO Larry Silbert talked about the recent accelerated downturn in the cryptocurrency market and pointed out the rise and fall of ICOs as one of the key factors in crypto’s latest major market cycle.
The successful crypto entrepreneur is associated in the minds of the majority of the public with the image of someone who had just recently been a student, bought up Bitcoins worth a couple of hundred dollars and then sold them, earning millions of dollars. There really is quite a number of such lucky ones. However, there are those who entered the world of digital assets as successful and wealthy individuals, to begin with. Among them are stars from show-biz, sports athletes and photo models with names known by billions of people.
In a recent blog post, Steemit Inc. founder and CEO Ned Scott says the company has laid off almost 70% of its team due to “weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes”.
