Tag: Cryptocurrency

Austrians Are Most Skeptical of Bitcoin and Cryptocurrency

Crypto Bit News Staff

An online survey by banking giant ING finds that Austrians are the most skeptical of Bitcoin (BTC) and cryptocurrencies in general. The poll, including respondents from 15 countries, shows that Bitcoin-positivity is also weakening in other countries, according to Der Standard, Aug. 14. The worst and getting worse Austrians are generally conservative on investments, but on cryptocurrency they are very skeptical, with only 13% seeing digital currencies in a positive light. Attitudes towards cryptocurrency worsened since last year’s survey. This year 17% of Austrians think that cryptocurrency is the future…

Cryptocurrency Market Sees Red as Bitcoin Slumps Below $11,000

Crypto Bit News Staff

Tuesday, Aug. 13 — Bitcoin (BTC), Ether (ETH) and XRP continue to bleed amid a crypto market turning red.  Market visualization. Source: Coin360 Bitcoin is trading at $11,005 at press time, with a 3.83% loss on the day. Bitcoin broke $12,000 three days in a row, from Aug. 6 to Aug. 8., but never managed to hold these highs for a significant period of time. Then on Saturday, Aug.10, BTC price fell by about $400 in just an hour. Price has continued downward since then, and has even dipped below…

China to Release Its Own Cryptocurrency Soon

Crypto Bit News Staff

Cryptocurrency may have been completely unknown for most people around half a decade ago, and most of the banks in the world did not even take it seriously. However, things have changed dramatically over the past few years, and many banks are now considering the possibility of launching their own digital currencies. Facebook (NASDAQ:FB) announced its own cryptocurrency last month, while American banking giant J. P. Morgan (NYSE:JPM) has come up with its own as well, and in a new development, it has emerged that the Chinese central bank is close to…

Will China’s ‘Cryptocurrency’ Pump – or Pummel

Crypto Bit News Staff

China’s central bank is “close” to launching its own “cryptocurrency.” Will this historic moment pump bitcoin – or pummel it? | Source: REUTERS / Dado Ruvic / Illustration China’s long-fabled “cryptocurrency” launch is finally on the horizon. According to Bloomberg, People’s Bank of China (PBoC) payments department deputy director Mu Changchun confirmed at the China Finance 40 Forum that the country’s cryptocurrency is nearing its release following a year of research and development. Given Beijing’s history of antagonism toward decentralized cryptocurrencies, what does the impending launch of a PBoC-approved digital…

Coinbase UK Dropping Support for Cryptocurrency Zcash

Crypto Bit News Staff

The U.K. arm of Coinbase appears to be dropping support for the privacy-focused cryptocurrency zcash. According to customers, Coinbase UK is sending letters out warning people that they will need to convert their zcash (ZEC) holding, or remove them to an external wallet, by Aug. 26. @zcash @ElectricCoinCo @coinbase what’s going on with Zcash in the UK? pic.twitter.com/6GWS9CuIoH — Alex (@deskofwilkes) August 8, 2019 The cryptocurrency exchange gave no specific reason for the removal of the cryptocurrency, but said all remaining ZEC balances on Aug. 26 will be automatically converted to…

Bitmain Accuses Cryptocurrency Project of Impersonation

Crypto Bit News Staff

Cryptocurrency mining hardware manufacturer Bitmain has accused a cryptocurrency project of falsely using its name in the promotion of a product dubbed Mangocoin (MNG). In an Aug. 9 blog post, Bitmain states that it came across a fraudulent use of its brand in the sale of a product dubbed “Bitmain Cloud Miner” and in the promotion of Mangocoin. The fraudsters allegedly masqueraded as Bitmain and promoted the products on their website, application and software. Bitmain thus warned the public that Mangocoin and its social media accounts, website, application and dedicated…

Abu Dhabi Sovereign Wealth Fund Invests in Cryptocurrency Exchange

Crypto Bit News Staff

The world’s thirteenth largest sovereign wealth fund, Abu Dhabi-based Mubadala Investment Capital, has made an investment in cryptocurrency exchange MidChains. As UAE English language newspaper Gulf News reported on Aug. 11, Mubadala Investment Capital has invested in MidChains, a digital currency trading platform set to launch in late 2019 in Abu Dhabi. The exchange will be located in the international financial center and free zone Abu Dhabi Global Market (ADGM). Commenting on the investment, Basil Al Askari, co-founder of MidChains, told the Gulf News: “We’re an exchange. You can think…

Cryptocurrency Market Sees Red as Bitcoin Still Struggles Under $12,000

Crypto Bit News Staff

Friday, Aug. 9 — Bitcoin (BTC), Ether (ETH) and XRP are slumping along with the rest of a largely red cryptocurrency market. Market visualization. Source: Coin360 Bitcoin is trading at$11,910 at press time, with approximately a 1.16% loss on the day. Bicoin has broken $12,000 three times this week, but has lost traction at or above that price point. Nonetheless, some BTC bulls are saying that the current market conditions indicate only a temporary setback for its inevitable surge beyond the previous all-time high. Serial VC investor Tim Draper commented:…

Cryptocurrency Lender Dharma to Postpone Accepting New Deposits and Loans

Crypto Bit News Staff

San Francisco-based crypto lender Dharma has decided to pause new deposits and loans on its platform.  Dharma announced their decision in a series of official Twitter posts on Aug. 7. Their second tweet in the series reads: “For now, we’re pausing new deposits and loans in Dharma. If you have an existing deposit or loan with Dharma, you’ll still be able to access your account and will have the option to withdraw any funds that are not currently locked up.” While not appearing to offer any further details, Dharma assured…

North Korea Stole $2 Billion in Cryptocurrency From Exchanges, Says UN

Crypto Bit News Staff

North Korea has netted around $2 billion by hacking banks and cryptocurrency exchanges, according to the United Nations (U.N.). UN: Hacked crypto funds weapons of mass destruction In a confidential report acquired by mainstream media outlets including Reuters on Aug. 5, the U.N. Security Council North Korea sanctions committee said that hackers formed an essential part of government funding.  “Democratic People’s Republic of Korea cyber actors, many operating under the direction of the Reconnaissance General Bureau, raise money for its WMD (weapons of mass destruction) programs, with total proceeds to…