Enterprise Blockchain Market Will Hit $21.07 Billion By 2025, Says Fortune Business Insights

A new study from Fortune Business Insights, a company offering market studies and consulting services, estimates the blockchain technology market will reach $21 Billion by 2025, according to GlobeNewswire’s report on May 12.  It stated that:  “The blockchain technology market size stood at USD 1.64 billion in 2017, and is projected to reach USD 21.07 billion by the end of 2025 […] exhibiting a CAGR of 38.4% during 2018-2025.” Reasons behind the expansion The main reason for the growth of the global blockchain technology market, according to the Fortune Business Insights…

China’s Central Bank Wants to Speed Up Blockchain Adoption

The People’s Bank of China, or PBoC, Financial Technology Committee held its first meeting of the year this week. During the meeting, the central bank’s deputy governor, Fan Yifei, urged that the country’s blockchain adoption strategy be accelerated. According to a report released by Sina on May 13, the bank’s deputy governor met with both PBoC officials and the heads of their affiliated financial companies. During the talks, Fan highlighted the importance of the blockchain and fintech industries, openly seeking to ensure that the country’s adoption plan will be successfully…

Pantera Capital Founder on What He Learned From Missing Out on Ethereum

Dr. Steven Waterhouse, a founding partner of Pantera Capital, says that his biggest regret as a VC is not investing in the Ethereum (ETH) Initial Coin Offering (ICO), but he learned his lessons from his mistake. Waterhouse received his doctorate from Cambridge University back in 1997. He launched several successful ventures before joining Fortress Investment Group in 2013 where he rubbed shoulders with Mike Novogratz. Initially, the idea was to start a crypto fund within Fortress. When this did not work out, he became one of the founding partners of…

Bitcoin Explodes Above $9,300 After Halving: What Do Analysts Expect Next?

Bitcoin has continued to rally higher since our last market update, recently retaking $9,300 for the first time since the crash on the morning of May 10th. Bitcoin’s price action from May 8 to today charted by TradingView.com. This strong recovery comes after Bitcoin fell as low as $8,100 due to a sell-off prior to the block reward halving, seen in the middle of the chart above. Here is what analysts expect for the cryptocurrency market next. Bitcoin Poised to See Short-Term Correction While many believe that Bitcoin’s long-term outlook…

Interpol Teams Up With Kaspersky to Declare ‘Anti-Ransomware Day’

International crime-fighting organization, Interpol, joined forces with cybersecurity firm, Kaspersky, to launch a campaign called “Anti-Ransomware Day”. The date is set on the third anniversary of the most significant ransomware attack on record, WannaCry. According to the announcement, the May 12 holiday will raise awareness about the effects of ransom-centric cyberattacks which continue to affect people and businesses all over the world. A study revealed by Kaspersky reported that until October 2019, WannaCry held the title of the most significant ransomware attack ever executed. Companies affected by WannaCry attacks suffered…

CEO at Real Vision Raoul Pal Bets on Bitcoin Up 100x in Next Five Years

Raoul Pal, CEO & Founder at Real Vision, applies the economic cycle theory to predict a major disruption of the global financial system. He believes this will drive Bitcoin to new highs. Despite the recent rally in the stock market, Pal sees dropping bond yields and falling commodity prices as signs the world economy is heading towards a grave recession. He states: “I think that the stock market is trading hope and the bond markets trading reality and the bond market will show us where the stock market will go.”…

Binance Freezes Funds Stolen From Upbit in Late 2019

An address associated with the $50 million hack of South Korean crypto exchange, Upbit, has moved some of the stolen Ethereum (ETH) to Binance. The world’s biggest exchange immediately froze these funds on its platform, and has initiated an investigation. On May 13, Whale Alert tweeted that a 137 ETH ($27,164) transaction was moving funds derived from hacked Upbit exchange to Binance. According to the transaction details, the transfer occurred at 12 p.m. EST. Less than one hour after the transaction was flagged, Binance CEO Changpeng Zhao, or CZ, stepped…

IOV Labs Ushers in Bitcoin-Based Mobile DeFi

IOV Labs, a startup that constructs financial solutions based on Bitcoin’s blockchain, has introduced another layer of scaling.  “IOV Labs announced the launch of its Light Client for the Lumino Payments Network, a third-layer Bitcoin scaling solution,” said a statement provided to Cointelegraph, which added: Lumino Payments Network enables off-chain payment capabilities for any current or future ERC20-compliant token deployed on the RSK and RIF blockchain networks.” Bitcoin-based decentralized finance Ethereum made a name for itself as a smart contract-enabled network primed for project building. Thanks to a sidechain solution…

Why Bitcoin Breaking Past $9,000 Is Just the Start of a Booming Bull Trend

Since falling as low as $8,180 on Monday, the day of the halving, Bitcoin has mounted a strong comeback. The comeback culminated in a surge past the key $9,000 resistance on Wednesday, seen on the right-hand side of the chart below. Bitcoin’s price action from May 8 to today charted by TradingView.com. While the move above $9,000 brings BTC above a key technical level, it wasn’t met with much resistance in terms of liquidations. The reason: as Bitcoin traded at ~$8,800-8,900 for hours on end before passing $9,000, short positions…

Bitcoin Cannot Be Protected by Chinese Law, Local Court Rules

As a virtual commodity, Bitcoin (BTC) cannot be protected by the Chinese law, a court in Fujian province reportedly ruled on May 13. Fujian court dismisses a Bitcoin-related lawsuit According to Fujian Rule of Law News, the court was considering a dispute involving an investment to a “Bitcoin-themed club”. The plaintiff, named Liao, allegedly invested 500,000 yuan ($70,500) in this club. His expectation was that high returns would follow. After failing to receive any of his funds back, Liao sued the operator of said Bitcoin club. The Changting People’s Court…