Tag: Crypto

70% of Crypto Exchanges Have Complied With CoinMarketCap’s Transparency Initiative

Crypto Bit News Staff

Crypto data provider CoinMarketCap says most listed exchanges have complied with its transparency-boosting mandatory data requests. The news marks the end of the first phase of the site’s Data Accountability & Transparency Alliance (DATA) initiative, which pushes for stricter disclosures, which include live trading and order book data. More accurate, timely and unbiased information will enable site users to draw more informed conclusions from CoinMarketCap data, the firm said in a statement. “The new and detailed criteria for listings will provide clear and concrete guidelines for everyone looking to be listed on CoinMarketCap,”…

Bitcoin Price Unfazed By Unveiling of Facebook’s Libra Crypto

Crypto Bit News Staff

View The unveiling of Facebook’s Libra cryptocurrency has failed to put a strong bid under BTC. The cryptocurrency may be vulnerable to a “sell the fact” pullback, too. The 4-hour chart indicates scope for a drop to $8,800. A break lower would expose key average located at $8,500. On the higher side, a high-volume above the crucial Fibonacci retracement level of $9,442 is needed to strengthen the case for a rise to $10,000. Bitcoin (BTC) is struggling to gather upside traction following Facebook’s official announcement of its Libra cryptocurrency project. At 09:00 UTC…

Crypto Market Primed For More Gains: Bitcoin Cash, BNB, Litecoin, TRX Analysis

Crypto Bit News Staff

The total crypto market cap climbed further higher above the $280.0B resistance area. Binance coin (BNB) price is up more than 5% and it is approaching the $35.00 resistance area. Litecoin (LTC) price is consolidating above the $130.00 support area. Bitcoin cash price is holding the $420 support and it could climb higher in the near term. Tron (TRX) price is slowly moving higher towards the $0.0350 and $0.0380 resistance levels. The crypto market cap is gaining bullish momentum, with strong gains in bitcoin (BTC). Ethereum (ETH), BNB, litecoin, ripple,…

Santander Loses Appeal Against Brazilian Crypto Exchange, Fine Upheld

Crypto Bit News Staff

Major Spanish bank Santander has been denied an appeal regarding a decision by the Court of Justice of the State of São Paulo in a case against crypto exchange Mercado Bitcoin, Cointelegraph Brazil reports on June 17. Santander was sued by the Brazilian exchange Mercado Bitcoin in 2018, after the bank purportedly closed the exchange’s account at its sole discretion. The bank, which has branches in Latin America, cited concerns over the origin of the account’s fund due to the nature of the crypto exchange’s activities. Over 1 million reals (around…

History of Centralized Companies Being Hostile Toward Crypto

Crypto Bit News Staff

On June 10, one of the top cryptocurrency media sites, CCN, initially announced that it would shut down, citing a June 3 Google Core Update for stifling its traffic. Writing on the website, the director and founder of CCN Markets and Hawkfish AS, Jonas Borchgrevink, blamed the update for an overnight fall of 71% of the site’s mobile traffic. While Borchgrevink noted that ups and downs are part of the business, such a vertiginous fall is unprecedented in its history. At the time of the post, the founder said that…

Russian Hackers May Have Carried Out Largest Ever Crypto Exchange Theft

Crypto Bit News Staff

Russian hackers, not North Korean, may be the bad actors behind probably the biggest ever theft from a cryptocurrency exchange. Japanese newspaper Asahi Shimbun reports Monday that virus variants known to be linked to Russian hackers have been found on employee computers at the Tokyo-based Coincheck exchange. Coincheck suffered a breach in January 2018 that resulted in the loss of 500 million NEM tokens worth around $530 million at the time – an amount even bigger than that lost by Mt. Gox. According to the report, the malware found at the exchange…

5 South Korean Crypto Exchanges Take On New Responsibility for User Losses

Crypto Bit News Staff

Five cryptocurrency exchanges in South Korea have increased their liability to users in line with demands from regulators. Local English-language news outlet The Korea Herald reported the news on June 17, citing Yonhap News Agency. A year after the Fair Trade Commission requested Bithumb and four other platforms to adapt their policy, the companies will now hold themselves accountable in the event of user funds being stolen. The onus for paying out will lie with the exchanges even if no willful or gross negligence occurred on their part, The Korea…

Korean Crypto Exchanges Update T&Cs to Accept Liability for Hacks

Crypto Bit News Staff

A number of South Korean cryptocurrency exchanges have been forced to update their terms and conditions to accept liability for potential hacks and service issues. According to a report by the Yonhap News Agency, South Korea’s antitrust watchdog, the Fair Trade Commission, said Monday that five exchanges in total had made the change after it issued a corrective recommendation. Bithumb, an exchange that has been hacked twice in a year, is included in the five exchanges, the report says. Last June, the platform lost roughly $31 million in cryptocurrencies, and,…

Crypto Market Targets $300 Billion Cap: Bitcoin Cash, EOS, TRX, ADA Analysis

Crypto Bit News Staff

The total crypto market cap gained momentum and broke the $260.0B resistance area. Bitcoin price broke the main $9,000 resistance area and traded close to $9,400. EOS price traded nicely above the $6.50 and $6.75 resistance levels. Bitcoin cash price is trading above the $420 level and it could continue to rise towards $440. Tron (TRX) price broke the $0.0330 resistance and it might continue to rise. Cardano (ADA) price is slowly moving higher towards the key $0.1000 resistance. The crypto market cap is surging above $265.0B, with sharp gains…