Crypto Markets Are Green Across the Board as Bitcoin Crosses $12,000

Friday, June 28 — Top cryptocurrencies bitcoin (BTC), ether (ETH), and ripple (XRP) are all in the green, a total turnaround from the sea of deep red on Thursday. Market visualization. Source: Coin360 Bitcoin is currently trading at $12,316 again, around the levels it sank to following the sudden $1,400 flash crash on Wednesday. Bitcoin had continued to sink all the way to $10,380 on Thursday, but is now seeing strong recovery on the day, trending up by around 14%. Bitcoin 7-day price chart. Source: Coin360 The top altcoin and second…

Crypto Trader Warns of 40% Bitcoin Price Drop Before Monster Bull Run

Bitcoin was on a massive tear and the parabolic run was unstoppable as the crypto reached $13,000. It has declined since but is up on the weekly timeframe. While many long-term investors are euphoric over this juggernaut ascent, some experienced traders are starting to feel anxious. The trend reversal is so strong that a significant retracement is currently lurking. One popular day trader has a resounding argument that supports this bias. Analyst Opinion on Bitcoin Pullback A respected figure in the CryptoTwitter community named Trader X0 who boasts 13,000 Twitter…

Reserve Bank of India Developing Blockchain Banking Platform

The Reserve Bank of India (RBI) is developing a blockchain platform for banking in its R&D branch, according to a report by BusinessLine on June 28 The blockchain platform will reportedly host a number of blockchain applications, and is slated to launch next year. This model platform is reportedly being designed to serve banks; according to the director of The Institute for Development and Research in Banking Technology, RBI’s R&D branch, the platform is “for blockchain applications for the government in banking.” While RBI appears to be moving into the…

Crypto Projects Pose No Threat to Banking System

JPMorgan Chase CEO Jamie Dimon said that he does not think that cryptocurrency projects pose an existential threat to JPMorgan’s core business.  During an interview with Yahoo Finance on June 27, Dimon discussed crypto’s potential impact on the existing banking system: “We move $6 trillion a day around the world. It is very cheap, very secure, it works. And the banking system has already built Zelle, real time p2p, and TCH, the clearancing house, with the banking system built real time payments. We already have all that.” Dimon further stressed…

Billionaire Henry Kravis Invests in Former Employee’s Crypto Fund

Billionaire Henry Kravis has started investing in the cryptocurrency space, according to a report by Bloomberg on June 28 Ben Forman, a former employee of Kravi’s KKR & Co, said that Kravis has invested in the flagship fund for his blockchain-focused investment firm ParaFi Capital of San Francisco. Discussing his decision to leave KKR to found ParaFi Capital, Forman said that he intends to pursue cryptocurrency investing at his new firm: “While I toyed with the idea of pursuing blockchain investing within KKR, it was clear to me that the…

Ethereum Classic Hard Fork and What Will Change

On June 19, the Ethereum Classic (ETC) community announced that the Atlantis hard fork is now in its testing stage. As Cointelegraph previously reported, the update is scheduled for Sept. and will take place on the block 8.75 million.  Also, as Cointelegraph reported, ETC Labs, which actively contributed to the Atlantis project, will soon introduce another solution for Ether (ETH)/ETC interoperability being part of Metronome Validator Network. This move brings transparency on certain aspects of the upcoming upgrade.  ETC itself was introduced after the DAO attack back in 2016, when 3.6…

Golem Launches New Entity Based on Its 2016 Crowdfunding

Decentralized CPU power developer Golem is spinning off a new entity using funds of the original capital raised in its crowdfunding back in 2016 In a blog post on June 28, Golem Factory CEO Julian Zawistowski announced the launch of a new division called the Golem Foundation, which will purportedly allow Golem to expand its solutions and “potentially increase the value of the entire project.” The Golem Foundation intends to develop some new approaches for its Golem Network Token (GNT), Zawistowski wrote in the post, adding that the initiative includes…

Craig Wright Does Not Have Access to Bitcoin Fortune

Craig Wright said that he cannot comply with a court order to provide a list of all his early bitcoin (BTC) addresses, Bloomberg reported on June 28  The Australian computer scientist and self-proclaimed Satoshi Nakamoto said that he may not be able to access the coins at all. As previously reported, the United States District Court of the Southern District of Florida issued an order on May 3 requiring Wright to produce a list of his public bitcoin addresses. Wright, however, failed to disclose his bitcoin holdings per court order.…

Only 30% of Known Stablecoins Are Live and Operational

Only 66 stablecoins — 30% of total announced tokens — are actually live and operational, according to a study published by the blockchain research group Blockdata on June 26 The remaining 70%  are either still in development or have shut down entirely. Researchers from Blockdata believe that one consequence of this is that 2019–2020 may see a record high of new stablecoins going live, with 119 estimated to launch in 2019. Researchers also examined possible factors may have led to the closure of failed stablecoins. Failed stablecoins, according to the…

Kik Hands Off Defend Crypto Frund to The Blockchain Association

The Blockchain Association, a collective of advocates involved with the blockchain industry, has taken over the Defend Crypto fund set up by Kik According to an official blog post on June 28, Kik — the company behind Kik Messenger and the kin (KIN) cryptocurrency — believes that the Blockchain Association “will be in the best position to objectively allocate the resources to the highest impact initiatives” and has chosen it to lead Defend Crypto. The announcement also stresses that it will allocate resources for legal initiatives not just for Kik,…