Nvidia has urged a US judge to dismiss a case brought by investors who say it misled them over crypto mining revenues. The company claims that the plaintiffs had cherry-picked information and relied on analysts who were clearly speculating on its financials. Lack Of Transparency Over Crypto-Mining Demand The case was initially brought, back in December 2018, Read more…
Tag: Basis
Bitcoin Mining in North America: A New Gold Rush in the New World
The phones are ringing off the hooks at the New York offices of BitOoda, a financial services and brokerage firm that advises bitcoin mining companies and investors in the bitcoin space on investment strategies and risk management. Ryan Porter, head of business development at BitOoda, told Bitcoin Magazine that there’s lots of interest, including from Read more…
US Stock Markets to Have a Slow 2020, Will Investors Turn to Bitcoin and Crypto?
The US stock market rally in 2019 surprised skeptics, as indexes continued to surge despite underwhelming performance and setbacks for the FAANG stocks. But Wall Street pundits are predicting that 2020 will be sluggish. Will Bitcoin and crypto markets get all the attention then? S&P 500 Expected to Deliver Single-Digit Returns 2020 may be the Read more…
Bitcoin (BTC) Futures Markets Hit $5B Daily Volume
The Bitcoin (BTC) market has evolved to include the simplest kind of derivative financial products – futures contracts. Those markets now reach $5 billion in daily volumes, taking a significant chunk from spot trading markets. Bitcoin Price Discovery Shifts to Futures Markets Bitcoin price discovery mechanisms have shifted in 2019, as the effect of futures Read more…
Bakkt Bitcoin Futures Record: 2728 Contracts Traded Amid BTC Crash
The Bakkt Bitcoin (BTC) futures set a daily trading record, just as the leading coin crashed from $8,000 to under $7,000 within a 24-hour period. Bakkt Activity Shot Up on Day of Rapid Losses for BTC Activity shot up on the Bakkt exchange, from the usual daily interest above 1,400 traded contracts. Open interest exceeded Read more…
Cryptomining Attacks Remain One of the Nastiest Malware Threats of 2019
Cryptography is a tool that can work in two different ways. It can be used to hide information using encryption or, with the correct information, it can be used to track data. The latter is what people are talking about when they name transparency as the primary value of cryptocurrency or blockchains. Under most circumstances Read more…
China Digital Currency Will Replace SWIFT: Huang Qifan
China’s plans to create a sovereign digital currency might be aimed towards eradicating the need for U.S.-controlled payment systems like the Society for Worldwide Interbank Financial Telecommunications (SWIFT). SWIFT and CHIPS Systems Have No Future Speaking at the Bund Financial Summit in Shanghai, Huang Qifan the vice chairman of the China Center for International Economic Read more…
China Is Exploring Blockchain and AI Use Cases in International Trade Financing
China is reportedly looking into the various use cases for blockchain tech and artificial intelligence (AI) in international financing, with a special focus on risk management procedures. The country intends to further liberalize its financial markets, a veteran foreign exchange regulatory official confirmed on October 26. The recent comments made by Lu Lei, deputy head Read more…
Bitcoin Flash Crash Caused By Drop in Network Velocity
Just as Bitcoin (BTC) trading was becoming ‘boring’, a flash crash has erased as much as $500 in rapid-fire selling. Byte Tree CEO, James Bennet, says that this sudden decline was the result of a significant drop in network velocity. Loss Deepened Within Minutes BTC slid from above $8,200 at the start of the day, Read more…
IRS Will Ask If You Own Cryptocurrency on its New Income Tax Form 1040
The US Internal Revenue Service (IRS), a bureau of the Department of Treasury, recently added a question regarding cryptocurrency ownership to its standard 1040 income tax form for the upcoming tax filing season. A draft of the “Additional Income and Adjustments to Income” section of the latest 1040 form was released. It included a change Read more…