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Shorts (Finally) Squeeze As Bitcoin (BTC) Settles Around $7,200

Bitcoin Shorts Finally Begin To Liquidate At last, the long-awaited short squeeze has begun to grace Bitcoin (BTC). For those unaware, over the past three or so weeks, the amount of money shorting BTC on platforms like Bitfinex and BitMEX has exploded, as the news regarding Tether and Bitfinex’s potential insolvency and the Binance hack Read more…

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Deloitte Ditches Ethereum for VeChain, Brags Beating Bitcoin Transactions

CCN.com: VeChain, which uses Proof of Authority rather than Proof-of-Work, clocked in more transactions than Bitcoin on Saturday. A Reddit user noticed and raised the celebratory alarm; Deloitte executive Cillian Leonowicz then claimed the activity via LinkedIn, writing: We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to Read more…

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Ethereum’s [ETH] Vitalik Buterin to Elon Musk: Programs that should be developed on Ethereum

Elon Musk, the face of Tesla and SpaceX, has always been a prominent figure in the cryptocurrency space. The founder of The Boring Company has publicly expressed his opinions on Bitcoin [BTC] and other cryptocurrencies in the market on several occasions. Musk also revealed that he held 0.25 BTC, which was sent by a friend, […]

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Next Bitcoin Bull Run Slays 2017’s ‘Hype-Driven’ $20,000 High: Researcher

Tom Shaughnessy, a co-founder at Delphi Digital, an independent research boutique for institutional-grade analysis, believes the next bull run of bitcoin will be bigger than the previous rally. “The last BTC bull run was driven by hype around magical internet money. The next one will be driven by an actual macro based understanding of the Read more…

Cryptocurrency News

Crypto Firms Speak out Against Critical McKinsey Report

Consulting giant McKinsey & Co recently published a report on the state of the blockchain industry, claiming that while crypto technology has potential, it has been unable to break away from the early “pioneer” phase with most use cases failing to take off. The Report: ‘Blockchain’s Occam Problem’ The report is not entirely critical, stating … Continued

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McKinsey & Company: Blockchain Technology Isn’t Living Up to the Hype

McKinsey & Company, the leading consulting firm, says blockchain technology is failing to transition past its pioneering stage. The company notes, however, that payments may not be the best use-case for a complex technology like blockchain. Houston, We Don’t Have Lift Off Major consulting company McKinsey & Company has published an article on the current issues Read more…

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Bitcoin-Friendly Square Uses App and Algorithms to Issue Business Loans

Payments company Square is moving into new markets by issuing business loans and will soon move to consumer lending. Its data collecting and analyzing algorithms are deciding creditworthiness letting borrowers arrange their loans in a few taps. According to WSJ reporting, one Texan food truck owner accepted a loan offer within the Square app, then

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UK Gov’t Unveils Cryptocurrency Tax Guidelines For Individuals
Cryptocurrency News Market

UK Gov’t Unveils Cryptocurrency Tax Guidelines For Individuals

Her Majesty’s Revenue and Customs (HMRC) yesterday released a policy paper, detailing cryptocurrency tax guidelines for individuals. The good news is that no new punitive tax measures apply to crypto, which essentially falls under existing taxation schemes. Which Tax Applies? After defining what a crypto-asset is, the paper notes that the nature of the industry requires Read more…

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Crypto-Friendly Banking App Revolut Obtains EU Banking License

Crypto-friendly fintech startup Revolut has obtained a banking license in Lithuania, technology news outlet TechCrunch reported Dec. 12. As the report states, the startup obtained a license through the Bank of Lithuania and “is leveraging passporting rules to operate in other European countries.” The mentioned “passport rules” are laws permitting the operation of banks that Read more…