Cryptocurrencies have extended their upward trend into Thursday. The upmove is sustained as expectations of a strong future outweighed negative remarks and FUD.
Here is wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Citron Slams Square Saying ‘Collection Of Yawn Businesses’
Citron Research, the online stock commentary website run by the well-known activist short-seller Andrew Left, stung mobile payment processor Square Inc. with harsh comments that caused the company’s shares to fall on Monday. Square is just a “collection of yawn businesses,” Citron said in a post on Twitter. Read more…
Crypto Company Sends Balloon To Space For Bitcoin Mining
After its run on earth, cryptocurrency is going to the space. Cryptocurrency mining firm Miner One said it launched a “high-altitude balloon with bitcoin mining equipment” into space on Monday to harvest new coins from the depths of the stratosphere. Read more…
Auto Giants Form Blockchain Coalition
Four of the world’s major automobile manufacturers have joined startups and Technology Companies to form the biggest-ever consortium focused on applying blockchain technology in the automotive sector. The formation of the new alliance, named the Mobility Open Blockchain Initiative (MOBI), was announced at the Future Blockchain Summit in Dubai. Read more…
Barclays CEO Rejects Rumors Of Opening Crypto Trading Desk
Refuting rumors, Braclays CEO Jes Staley confirmed that the British banking giant is not immediately launching a cryptocurrency trading desk, Financial News reported. cited potential compliance and regulatory barriers as reason, but admitted that the bank is looking into cryptocurrency-related business opportunities.
Dubai Government, IBM launch Blockchain Business Registry
Dubai’s government has teamed up with IBM and others to use the blockchain technology to improve ease of doing business in the region and facilitate foreign direct investments. The initiative is part of Dubai’s vision to be the Blockchain capital of the world as part of the Dubai Blockchain strategy 2016, the Government said in a statement.
Tutorial: Crypto Lexicon – FLIPPENING
FLIPPENING refers to a point of time in future when Bitcoin may be dethroned as the top cryptocurrency by an altcoin such as Ethereum. This could happen once the values of altcoins stop being based on that of Bitcoin, thus reducing its dominance in terms of market capitalization and popularity in the crypto market. Read more…
As of 9.16 am ET on Thursday, Bitcoin was up 2.89 percent at $9,311.63 and Ethereum was higher by 9.9 percent at $740.02 on Coinbase.
by Jyotsna V