News

GMO Internet, a major Japanese-based technology company, has shuttered its division responsible for designing and manufacturing mining chips. Mounting losses from a weak cryptocurrency market resulted in the sudden decision. In a statement released on Dec. 25, GMO explained to investors that the “increasingly competitive” mining business has resulted in the company cutting its losses. […]

Ripple, the custodial company to the open-source cryptocurrency XRP, owns 60 percent of all XRP ever created; these holdings are valued at $22 billion at current prices. Furthermore, company ‘insiders’ also hold a large percentage of circulating XRP. Could this wealth concentration adversely impact token holders? Bitcoin and Ethereum enthusiasts have viciously debated Ripple-supporters over […]

Bitcoin and the cryptocurrency markets are experiencing moderate pull-back while the Nasdaq, S&P 500, and the Dow erase their Christmas losses. Bitcoin and other cryptocurrencies experienced a strong rally leading up to Christmas, with total market capitalization surging from $122 on Wednesday, Dec. 19th to $146 billion on Christmas day, Dec. 25th; an increase of […]

The crypto-winter is affecting billion-dollar players in the cryptocurrency market. After the much-publicized layoffs at ConsenSys, SpankChain, and Steemit, mining equipment manufacturer Bitmain is reportedly cutting down 50 percent of its total workforce, alongside shutting down its entire Bitcoin Cash (BCH)-focused division. Bitmain Bins BCH Division As per a report on SCMP on Dec. 26, […]

Reports from the Central Bank of the Bahamas indicate that Tether Ltd. may have never deposited funds into the country. These findings could suggest that Tether may be holding their reserves elsewhere, or not have any reserves at all. In either case, the results could be catastrophic for the cryptocurrency markets. Investors have become increasingly […]

Binance is adding new XRP trading pairs for the holidays, including TRX/XRP and XZV/XRP. Furthermore, the ETH Trading Market will be renamed to the ALTS Trading Market, allowing for the possibility of more trading pairs with different quote currencies in the future. Ripple has had a strong month of partnerships and has effectively weathered the […]

Coinbase, one of the most-used cryptocurrency exchanges, moved approximately $5 billion in cryptocurrency, claiming the title of “largest crypto migration on record.” The transfer included 5 percent of all BTC, 8 percent of all ETH, and 25 percent of all LTC in circulation. According to a blog post on Dec. 19th, Coinbase announced that it […]

Americans and their Christmas lights consume a staggering amount of energy. For December alone, these glowing ornaments consumed 4.5 terawatt-hours of electricity, more than the annual consumption of Laos. Fortunately, the new Festivus ICO is looking to reinvent Christmas spirit. Problems with Bitcoin One of the major problems with Bitcoin is how much energy it […]

One of the oldest questions in cryptocurrency is whether Bitcoin is tethered to the performance of the overall stock market. The current crypto market rally could indicate that Bitcoin and other altcoins are independent from dips in U.S. stocks. The U.S. Stock Market Plunges Up until the Q3 of this year, the stock market has […]

South Korea’s largest cryptocurrency exchange, UpBit, faces criminal charges after top executives were formally indicted by the country’s legal prosecutors, as reported by Business Korea on December 21, 2018. Three senior exchange executives, including founder Song Chi-Hyung, were arrested by local authorities on charges of fraud. The arrests come after complaints were filed against the […]