Russian parliament will adopt the country’s major crypto bill, “On Digital Financial Assets,” in the next two weeks, according to the deputy finance minister
The co-founder and head of research of Fundstrat, Tom Lee has recently taken part in a new interview with CNBC Futures Now where he gave his opinion on the new Facebook cryptocurrency, Libra. Lee believes that this new stablecoin from the social network is proof that cryptocurrency is going mainstream. “The Facebook announcement is a complete validation that mainstream is now focused on cryptocurrencies and I think it really destroys those arguments that say, ‘I believe in blockchain, not Bitcoin.'” Lee says that Facebook creating a cryptocurrency is good news for Bitcoin in the long-term. “This is clearly a cryptocurrency play. But the salvo, or the real focus, is decentralized finance. And I think it is more targeted at stablecoins and creating a new kind of banking system, and it’s very complimentary to Bitcoin. I think this is actually a really bullish development for Bitcoin. I think it’s really bad for stablecoins and anyone who’s been trying to do decentralized finance. One thing to keep in mind – Facebook’s annual revenue per user is probably $50. That might be a little high. But an average bank generates close to $1,000 per user. So, Facebook has a 20x upside to their customer model if they start doing banking services, and so I can see why banks aren’t really enthusiastic about this.” When it comes to the price of Bitcoin, the co-founder says that the leading crypto is now in a full-blown bull-market and is well on the road of return to its all-time high of $20,000. “I think Bitcoin ultimately becomes a reserve currency in crypto. Bitcoin at $9,000 has only been at this level in 4% of its history. We’re deep into a bull market and people are pretty silent about it. I think Bitcoin is going to easily take out its all-time highs.” Despite Facebook’s announcement this week, the price of Bitcoin hasn’t moved much. The price is currently sat at $9,139 following a 0.78 percent decrease over the past 24 hours.
A new cryptocurrency powered by Facebook seeks to establish the company as a global financial powerhouse.Continue reading on The Blunt Ogre »
Facebook’s cryptocurrency project Libra has been criticized by French and US officials. The authorities did not appreciate the innovative development of the social network and want to nip it in the bud. French Finance Minister Bruno Le Maire appealed to the heads of the Central Banks of the countries of the G7 to study Libra tokens. He believes that they can not be released. Member of the US Republican Party, Patrick McHenry, wrote a letter to the chairman of the US House Committee on Financial Services, Maxine Waters, demanding a hearing on the issue of the Libra virtual currency. Waters supported the McHenry initiative and proposed to impose a moratorium on the further development of the Facebook project. Read more on the topic: Circle CEO: Facebook’s Libra Will Boost Bitcoin Price To $10,000 Per Coin US Senator Sherrod Brown, who is a member of the Senate Committee on Banking, Housing, and Urban Affairs, posted a message on Twitter stating the following: Facebook is already too big and too powerful, and it has used that power to exploit users’ data without protecting their privacy. We cannot allow Facebook to run a risky new cryptocurrency out of a Swiss bank account without oversight. — Sherrod Brown (@SenSherrodBrown) 18 июня 2019 г. On June 18, Facebook published the Libra documentation and launched a test version of the blockchain. Whitepaper describes the technical characteristics of the new network, the financial ecosystem management model, a programming language Move, and instructions for performing transactions in the Libra Blockchain. In 2020, the company plans to release a crypto wallet Calibra for storing Libra tokens. It will be integrated into Facebook Messenger and WhatsApp messengers. According to employees of the social network, the application will have a simple interface, so each user can send and receive digital assets without any problems. We want to remind you: The Wall Street Journal: Visa, Mastercard and PayPal Invest in Facebook Cryptocurrency
Coinmarketcap’s 7th largest cryptocurrency, Binance Coin (BNB) and Binance’s native Binance Chain has recently received support from the crypto exchange, KuCoin. The Hong-kong based cryptocurrency [...] The post Binance CEO Appreciates Competing Exchange On Supporting Binance Chain & BNB appeared first on Coingape.
The Fiber (EUR/USD) has recently been through an extensive correction that has now seen it retrace to the top of the descending triangle it escaped from earlier. As the pair has found strong support on the previous resistance turned support, we can expect it to continue rallying from here especially as the pair is likely to just break out of a falling wedge. This breakout could result in a completion of the ABCD pattern drawn on the 4H chart for EUR/USD. Recent stance taken by ECB President, Mario Draghi hints that further rate cuts might be on the way for the Euro, and we could see the pair decline against British Pound (GBP) but it still has room to rally against the US Dollar (USD). When it comes to Bitcoin (BTC), we are more interested in EUR/USD because this is the one forex pair that influences the price of Bitcoin (BTC) the most. This is because Bitcoin (BTC) is paired to the US Dollar (USD) on the most exchanges and the strength of the Dollar primarily depends on the EUR/USD pair. If the Dollar goes up, Bitcoin (BTC) falls and vice versa. At the moment, we expect EUR/USD to rally from here on out towards early July. This gives Bitcoin (BTC) ample room to complete the existing rally. This short term relief rally in EUR/USD after a major downtrend is most likely to be short lived as the ECB is not interested in a strong Euro. Similarly, the US Dollar Currency Index (DXY) might have topped out short term but it is likely to maintain its uptrend long term. The 4H chart for BTC/USD shows that the big picture remains intact. The price is currently in the UTAD (upthrust after distribution) part of the Wyckoff distribution cycle. Phase C shown on the chart might take  a while to complete as the price could break past the ascending triangle near term and climb above the 38.2% fib retracement from ATH before it tops out. RSI on the 4H time frame shows that there is plenty of room for the price to do that. This chart clearly shows what the price could do in the next few weeks and months from now. Once Phase C comes to an end, we will see the price current when it enters Phase D and Phase E. This is when we could see BTC/USD decline all the way to $5,000 or even lower levels to complete the ongoing distribution cycle. Weakness in the price action suggests that BTC/USD might not have much strength to rally significantly past $10,000 but from here on out, a rally past $9,600 appears quite promising. Traders that are looking to short Bitcoin (BTC) might want to add to their positions in the next few days based on the price action. Just as it is a good idea to dollar cost average your buy positions, it is also a good idea to dollar cost average your sell or short sell positions.
Facebook made its cryptocurrency announcement on 18th June 2019. In less than 24 hours, Governments around the world asked for a review or a temporary [...] The post Will Cryptocurrency Libra Enter China with Facebook Ban and US-China Trade War? appeared first on Coingape.
$8 million from institutional investors have been raised in its Series A funding round by Ethereum-based decentralized video streaming startup Livepeer
According to a recent report, the US Commodity Futures Trading Commission has filed a complaint against the UK based company Control-Finance Ltd and its Director, Benjamin Reynolds. According to the Finance Feeds report, 22,800 Bitcoins were stolen from customers by guaranteeing them healthy profits on their investments. According to sources close to the matter, the US watchdog filed a complaint with the New York Southern District Court against Control-Finance Ltd. alleging that it defrauded around a thousand customers to launder just under $150 million worth of Bitcoin. In fact, the UK based firm has been accused of taking investments from consumers to fund a Ponzi/pyramid scheme. As it reads in the report: “From at least May 1, 2017, through October 31, 2017, the defendants solicited customers to purchase their own Bitcoin with cash and thereafter deposit their Bitcoin with the defendants. To lure customers to transfer Bitcoin to them, the defendants made a raft of misrepresentations – for instance, they claimed that they employed expert virtual currency traders who earned guaranteed daily trading profits on customers’ Bitcoin deposits.” In trying to persuade customers of the legitimacy of the business, the director provided then with sham account documents. The firm used to transfer their deposits of Bitcoin to its cryptocurrency wallets in Canada, Switzerland, Seychelles and South Korea. In an official complaint with the court, it states that both Control Finance and Reynolds took advantage of the public’s enthusiasm for Bitcoin from May 2017 until October that same year. The CFTC has requested the court to impose civil monetary penalties and put a permanent trading and registration ban on the company. The CFTC’s enforcement director, James McDonald said: “The CFTC will continue to vigorously police the bitcoin markets, including fraudulent trading activity as alleged in this complaint.” He went on to say: “Fraud in these markets not only harms customers but if left unchecked, it could also hinder innovation. We caution potential virtual currency customers, once again, that they should engage in appropriate diligence before purchasing or trading virtual currencies.
A Korean company has applied for a patent for a smartphone design with dual displays. Source: nl.letsgodigital.orgThe secondary display, in accordance with the design, is located behind the main camera and occupies approximately half of the panel. This design allows you to use the rear camera for shooting selfies. Read more on the topic: Earlier Samsung Phones Might Have Embedded Crypto and Blockchain Features The Korean giant is unlikely to be able to introduce a new design into its flagship devices of S-series. However, the Samsung Galaxy A may be the perfect place to test it. The A-series smartphones were the first Samsung devices equipped with three- and four-camera modules installed along with a new rotating camera technology. Therefore, we can assume that the upcoming innovative device will be presented in this series. Samsung is not a pioneer in this direction, Vivo Nex and Nubia X are also equipped with dual displays. We want to remind you: Report: Smartphones Emitted the Most and the Least Radiation
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