Major Australian Exchange Expands to Singapore for Crypto-Friendly Regs

Independent Reserve, one of the largest cryptocurrency exchanges in Australia, is expanding to Singapore after an “overwhelmingly positive” response from the regulator. Adrian Przelozny, CEO and founder of the Sydney-based exchange, announced Friday it had expanded its trading services to users in Singapore, saying in a statement that his team “felt the time was right to make this move.” Przelozny referenced “a number of positive moves by Singaporean regulators” as part of his reasoning. Independent Reserve offers a host of retail and institutional trading features, including a spot marketplace and…

Notes From WEF: Oil-Producing Nations Want Dollar Alternatives, Just Not Bitcoin

DAVOS, Switzerland – Most Middle Eastern elites at the World Economic Forum are highly skeptical of bitcoin, but there are whispers about its potential for cross-border settlements in the energy sector.  According to Egyptian businessman M. Shafik Gabr, chairman of the ARTOC Group for Investment & Development, some Middle Eastern nations are already exploring the possibility of settling oil contracts in bitcoin. But he declined to specify which, and most of the leaders gathered in Davos for the annual conference that wrapped up Friday are adamant they see bitcoin’s post-sovereign…

Ex-CFTC Chair Christopher Giancarlo on Why He Launched Digital Dollar Project

In this video from WEF 2020, former Commodity Futures Trading Commission Chairman J. Christopher Giancarlo, also known as “Crypto Dad,” discusses his push to digitize the U.S. dollar and the future of global currencies. “We believe that the dollar usage in the global economy is underserved by serving as a continual analog instrument in a digital world,” he said. “We’re going to think through how to create a digital dollar that serves well into this coming digital century.” Ultimately, Giancarlo feels governmental currencies will come together with corporate cryptocurrencies and,…

Meet the Crypto Angel Investor Running for Congress in Nevada

“I would love to sit down with President Trump and have a discussion around bitcoin and cryptocurrency,” Lisa Song Sutton, an entrepreneur and bitcoin ATM investor in Las Vegas, told CoinDesk. Sutton might have a better shot than most at having such a conversation. She’s running for Congress in the Fourth Congressional District of Nevada, one of nine people currently competing in the June 9 Republican primary to see who will face off against the incumbent, Rep. Steven Horsford, a Democrat, in the general election in November. Were she to…

SEC Depositions Shed Light on Telegram’s $1.7B Token Sale

Telegram CEO Pavel Durov pushed back against a U.S. Securities and Exchange Commission (SEC) attorney’s speculation that his company’s 2018 token sale was meant to refill its cash reserves. During an 18-hour deposition, Durov disputed in particular SEC attorney Jorge Tenreiro’s claim that the sale would help Telegram pay for servers. This claim is a core part of the SEC’s argument in the ongoing case that Telegram was selling unregistered securities.  Acсording to Durov, from the beginning he has been funding Telegram with proceeds from the sale of his earlier…

Bitcoin’s Lighting ‘Torch’ Reignites, Blazes Through 38 Countries in 3 Days

Bitcoin’s lightning torch is back, and it’s zipped through at least 38 countries already. The torch is a digital game first ignited in January 2019 by pseudonymous bitcoin enthusiast Hodlonaut, known for his Twitter avatar of a cat in a spacesuit. Each “torchbearer” sends a tiny amount of bitcoin to the next. A key rule is to add a little bit more money to the payment each time it moves to someone new. The goal is to highlight the speed and global nature of the lightning network, a payment technology…

Retail Accumulation? Number of Bitcoin Addresses With One or More Coins Sees Solid Rise

A key on-chain metric has witnessed growth over the past 12 months, possibly indicating steady accumulation of bitcoins by retail traders.  As of Jan. 14, there were 784,000 addresses holding one or more bitcoins, up nearly 11 percent from 707,000 seen a year ago, according to blockchain intelligence firm Glassnode. The number has more than doubled since early 2015.  Number of Addresses with One or More Bitcoins Compared to BTC Prices Source: Glassnodes “The steady rise is the result of accumulation by retail buyers,” according to Connor Abendschein, crypto research…

CoinDesk Q4 2019 Review: A Year in Suspended Animation

It has been over 10 years since the creation of cryptocurrencies, and while clear narratives have emerged to justify their existence, none are decisively supported by data.  For example, charts suggest bitcoin’s use case as a store of value is taking hold among some new investors, who have been shown to hold the asset through price run-ups. However, other metrics such as bitcoin’s correlation to gold suggest that, across the entire body of bitcoin investors, most are using the asset as something far different from “digital gold.” On ethereum, DeFi…

Bitcoin Bulls Seek Stronger Move After Bounce to $8.8K Loses Momentum

Bitcoin’s bounce from key price support is struggling to gather traction. The top cryptocurrency by market value made a reversal from levels near $8,461 (Sunday’s low) during Tuesday’s US trading hours, rising to a high of $8,793 earlier today, according to CoinDesk’s Bitcoin Price Index. The bulls have defended the $8,460 level multiple times since late on Sunday. Tuesday’s bounce was the third successful defense of the former resistance-turned-support of the last 72 hours (bitcoin had dropped back at the same level on Jan. 8). This morning’s spike to $8,793…

Binance Invests in Open-Data Framework Provider Numbers Seeking Product Boost

Cryptocurrency exchange Binance has made an undisclosed investment in open-data framework provider Numbers. Announced in a blog post on Wednesday, Gin Chao, strategy officer at Malta-based Binance, said Numbers’ protocol will bring developers “easy access” to the exchange’s own blockchain – Binance Chain – and could be used features like hardware wallet security, digital signatures and more. Numbers has developed a protocol that it says makes data “open, transparent and traceable,” with use cases in digital identities or supply chain traceability. It’s also built an open-source mobile app that “fingerprints”…