Cryptocurrency 

Dogecoin Price Jumps Ahead More Than Half a Dollar

Within the past 24 hours, we have seen Dogecoin (DOGE) jump ahead and grow over 30% in price. With DOGE climbing the crypto ladder at a rapid pace, in the early hours of Tuesday, the coin price reached a new milestone and crossed the $0.50 barrier. The value of Dogecoin was $0.389421 and reached $0.541900 overnight–a 39% increase in price. As Dogecoin continues to grow in the crypto market, the digital currency has taken observers by surprise who have mocked and joked about coin–an intention by the creator himself. Despite…

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Cryptocurrency 

Tether Zips Past $50B and Heats Up the Crypto Market

HomeNewsCrypto NewsTether Zips Past $50B and Heats Up the Crypto Market Tether (USDT), the world’s largest stablecoin, just reached a market capitalization of $50 billion at the end of April 2021. A definitive sign that the cryptocurrency bull market is warming up, the Tether supply has grown by more than a factor of 10 over the last 12 months. Calculating the breakdown, that roughly accounts for 25% growth in the span of a month.  CTO of Tether Paolo Ardoino, has commented on this success stating, “Crossing a market cap of…

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Cryptocurrency 

Unlocking Cryptocurrencies: Growth, Opportunities and Limitations

HomeNewsCrypto NewsUnlocking Cryptocurrencies: Growth, Opportunities and Limitations As one of the most hyped technologies this past decade, cryptocurrencies have been recognized as the gateway to unlocking revolutionary change in business operations. By the year 2030, Gartner estimates blockchain will have generated $3.1 trillion. Reflecting on some recent events in the crypto industry, Ethereum has reached $2.6K, which is an all-time high for the currency. However, Bitcoin’s soaring numbers experienced a fall and its market cap dominance is just under 50%, the lowest value it has reached in almost three years. …

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Cryptocurrency 

Dogecoin Soars while Bitcoin Rebounds

HomeBitcoin NewsCryptocurrency Price Round-up: Dogecoin Soars while Bitcoin Rebounds This past weekend, Cryptocurrency coins experienced a downfall in prices after hitting all-time highs in the last couple of weeks. The market tanked early on Sunday morning, with Bitcoin taking the most extreme hit as it dropped $10K within a few hours. Dogecoin was the least affected crypto on the market, in comparison to others. It endured a minor dip and recovered shortly after with 12% gains by the end of Sunday. Other changes also occurred in the market such as…

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Cryptocurrency 

PayPal is the Latest to Introduce Cryptocurrency for Online Transactions

HomeNewsCrypto NewsPayPal is the Latest to Introduce Cryptocurrency for Online Transactions PayPal’s president and CEO, Dan Shulman, confirmed that cryptocurrency will be introduced shortly at the checkout service for online transactions, which will also waive transaction fees for purchases made with crypto. PayPal, the well-known online payment and transaction service, is the latest to start accepting the digital currency as a medium of exchange at its millions of global merchants. The news was shared by the company’s CEO at the end of March 2021. The new system will feature a…

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Cryptocurrency 

CME Sees Second-Best Month for Bitcoin Futures Trading

January was the second-best month for CME’s Bitcoin futures trading since its 2017 launch, averaging 10,800 contracts, 69% greater than the average daily volume in 2019. Last month also saw new options on Bitcoin futures picking up pace. Since launch, 466 options contracts, or 2,300 equivalent Bitcoin, have traded—nearly 40% as blocks, showing signs of institutional interest, CME said. It also registered a record monthly average of 56 large open interest holders (entities that hold 25+ contracts). The Chicago Mercantile Exchange (CME) launched its Bitcoin futures options last month, with…

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Cryptocurrency 

Crypto Capital Co-Founder Rejects Plea Deal in Shadow Bank Case

Crypto Capital co-founder Reginald Fowler has rejected a plea deal with the US government in an ongoing case in which he is accused of operating a “shadow bank” for several crypto exchanges. Fowler was indicted in April 2019, along with Israeli national Ravid Yosef, for allegedly running a shadow bank for several cryptocurrency firms, including Bitfinex and Tether, which are currently embroiled in a separate case in which they are accused of creating “the largest bubble in human history.” According to a letter submitted by the prosecution on January 31, the…

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Cryptocurrency 

Square Wins US Patent for Fiat-to-Crypto Payments Network

Square, the payment services provider founded and run by Twitter’s Jack Dorsey, has won a US patent to launch a new network that enables crypto-to-fiat transactions. Square was founded in 2009 by Jack Dorsey and Jim McKelvey in their hometown of St. Louis, around the same time as Dorsey’s other company, Twitter (NYSE:TWTR), was beginning to take off. In the intervening year, Square’s white payment terminals have become synonymous with the advent of contactless payment. The new patent covers a payment system that allows users holding different assets to transact with…

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Cryptocurrency 

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…

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Cryptocurrency 

Bitmain Co-Founder Starts Legal Battle to Regain Control

Bitmain co-founder Micree Zhan Ketuan has initiated legal proceedings to regain control of the company with the filing of a summons in the Cayman Islands. Bitmain Technologies is one of the largest crypto mining firms in the world and has been caught in turmoil since October when the company’s other co-founder, Jihan Wu, announced Zahn’s departure from the firm, saying, “Bitmain’s co-founder, chairman, legal representative and executive director Jihan Wu has decided to dismiss all roles of Ketuan Zhan, effective immediately.” Zhan responded by saying he had been ousted from…

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