Tether and Bitfinex Unopposed to Lawsuit Consolidation

Three plaintiffs who have been involved in three separate lawsuits against Tether and its sister company Bitfinex have moved to consolidate their cases into one class-action suit. Court filings by David Leibowitz et al., Eric Young et al., and Bryan Faubus et al., accuse Tether and Bitfinex of creating “the largest bubble in human history” after they allegedly manipulated the crypto market out of up to US$1.4 trillion. All three cases were brought against the companies off the back of longstanding claims that Tether essentially printed billions of dollars worth…

Maduro Announces Crypto Casino in Support of Petro and Public

Nicolas Maduro, president of Venezuela, announced on Friday the opening of a new crypto-run casino in a battered country where betting halls have all but gone extinct.  A casino for relief Maduro said Ávila National Park’s Hotel Humboldt will soon be home to an international casino that will operate with Petro (PTR), Venezuela’s state cryptocurrency, and that proceeds will fund the country’s public health and education sectors.  The announcement comes less than a decade after Maduro’s mentor, former president Hugo Chavez, ordered the closure of all betting places as harbors…

China’s Total Blockchain Investments Dropped 40% in 2019 Compared to 2018

Chinese blockchain spending in areas of investment and financing deals has dropped over 40% in 2019, according to a new study by state-run sources. Over the course of 2019, China totally had 245 investment and financing deals, which is nearly 60% less than in the preceding year. Chinese blockchain investment spending has seen the biggest numbers in 2018 According to a joint study by China’s government-run financial information and media firm Xinhua and financial data platform Rhino Data, the total amount spent in blockchain investment deals has accounted for 24.4…

Craig Wright Still ‘99.9999%’ Sure That He’ll Get Access to BTC Fortune

Speaking with Cointelegraph’s video team on Jan. 20, Satoshi-claimant Craig Wright remained confident that he will get access to the Bitcoin fortune he famously claims to be locked up in the Tulip Trust.  Access to the Tulip Trust Regarding the controversial Tulip Trust, and his ultimate ability to access his reported bitcoin fortune, Wright told Cointelegraph:  “I’m 99.9999 and a few more 9s percent certain that I will be taking control of my BTC and whatever else.” Craig Wright is one of the more famous of the many people to…

DigixDAO Votes to Liquidate $64M Treasury

A project which conducted a 2016 initial coin offering (ICO) has voted to liquidate its $64 million treasury, returning funds to investors. Project Ragnarok, a measure to return ether to ICO investors from the Digix project’s treasury – which was held independently of the company in a decentralized autonomous organization (DAO), DigixDAO – has passed with over 95 percent support. Only 52 votes were cast, according to the proposal on the Digix community site. With the passage, a contract will be executed, unstaking and giving back 0.19 ETH per DGD…

Is This Why Bitcoin SV Climbed Another 20% In the Last 24 Hours?

Although almost the entire cryptocurrency industry started 2020 with big price increases, one has stood out above the pack. Bitcoin SV (BSV) kicked off the year at below $100 and now trades for more than $300. Whereas most digital currencies have traded sideways over the last 24 hours, Bitcoin SV is gaining in market capitalisation once again. However, at least one market analyst believes the dramatic price pumps are anything but organic. Bitcoin SV Bucking the Trend Again, But Where’s the Buying Pressure Coming From? Whether you like it or…

Bitcoin Price Tightens as Traders Eye the CME Gap and $8.2K Support

The price of Bitcoin (BTC) tumbled down from $9,200 to $8,450 yesterday. However, bulls are defending the $8,600 level with strength. The market needs to find a support area before the continuation of the bullish momentum is likely. Did the market find one already?  Crypto market daily performance. Source: Coin360 Bitcoin price finds resistance at $9,200 The price of Bitcoin rallied towards the $9,200 level through the past weeks, which makes it a 43% rally in just a month. However, the 0.618 – 0.65 Fibonacci level (the golden pocket ratio)…

CME Open Interest for Bitcoin Futures Up 100% Since Start of 2020

Open interest in bitcoin futures listed on the Chicago Mercantile Exchange (CME) have doubled in the first few days of the year, as noted by data analytics firm Skew. About $235 million worth of positions (5,329 contracts) were open on the CME on Jan. 17 compared to $110 million seen in early December. Open interest is the sum of all contracts that have not expired, been exercised or physically delivered. Open interest has spiked alongside price, confirming an upward trend. Bitcoin bottomed out near $6,430 in mid-December and rose to…

EIDOS Transaction Volumes Skew 2019 DApp Market Report

The transaction volume going through the EIDOS decentralized application (dApp) has massively skewed the results of the 2019 dApp Market Report, published Jan. 20. The token airdrop dApp on the EOS blockchain, saw almost three times as many transactions in 2019 as all of the other dApps on nine leading platforms combined. Perhaps the most notable aspect about this statistic is that EIDOS did not launch until 1st November 2019. In the two months of 2019 that it was active, EIDOS racked up almost 2.4 billion transactions. For the whole…