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Russia’s Supreme Court Orders Review of Crypto Website Ban

The Supreme Court of Russia has directed a court in the city of St. Petersburg to consider an appeal against a blocked cryptocurrency information website. According to Russian legal information site RAPSI, the Vyborgsky District Court of St. Petersburg blocked Bitcoininfo.ru in 2016, claiming that cryptocurrencies are “a means of …

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Bitcoin Resistance Rises to $8,460 After Unconvincing Breakout

Bitcoin (BTC) saw small gains last night, but the weak move did little to further the bull case. The target resistance level to beat yesterday (long-term descending trendline) was $8,285. A high volume close (as per UTC) above that mark would have signaled a long-term bullish trend reversal. The daily …

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Bitcoin Bull Trap? Not So, Says Lesser-Known Price Indicator

Is the reversal of a lesser-known bitcoin price indicator signaling a bull trap? That’s the question being asked by Twitter’s more expert crypto analysts after bitcoin’s rise to $8,500 this week, a figure that’s up more than 25 percent since its early April lows. As such, many investors and traders …

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Stellar Run: XLM, IOTA, ADA Spike in Good Week for Altcoins

Alternative cryptocurrencies shone bright this week, as the wider cryptocurrency market saw continued resurgence. The total market capitalization of all cryptocurrencies rose 25 percent week-on-week to $375 billion, according to CoinMarketCap – that’s up from below $250 billion just 10 days ago. But bitcoin, with 5.4 percent appreciation over the …

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LedgerX’s Bitcoin Derivatives Trading Is Up 7X Since Launch

Bitcoin trading platform LedgerX has seen a sevenfold increase in volume in the six months following its launch of cryptocurrency derivatives. Chief operating officer Juthica Chou told CoinDesk that the startup has seen roughly $7.5 million traded weekly through 700 swaps and options contracts. Since the platform launched its derivatives …

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New Ethereum Tech Calls on Slavic Gods for Security

The Slavic god of lightning, Perun, is entering the ethereum ecosystem (in spirit at least). Inspired by bitcoin’s lightning network, a group of researchers hailing from Warsaw have unveiled a new white paper entitled “Foundations of State Channel Networks,” which outlines a protocol designed to help ethereum scale to support …

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Ideas Abound for Business Blockchains, But Who’s Going to Pay?

After a seemingly unending period of blockchain R&D, major enterprises are eager to edge their technology toward production. At least that was the sentiment at Blockchain Expo Global on Tuesday, where attendees at the Olympia London venue assembled to hear from experts in supply chain tracking, energy, logistics, freight and …

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Korea Moves to Limit Crypto Mining Chip Imports

Cryptocurrency miners in South Korea may soon find it more difficult to get foreign-made mining chips imported to the country. According to data published by the Korean Customs Service (KCS) on Wednesday, cryptocurrency mining chips have been added to the current list of items that must meet certain legal requirement …

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Chip Maker TSMC Breaks Sales Record on Bitcoin Mining Boost

The Taiwan Semiconductor Manufacturing Company (TSMC) has reported strong financial results in the first quarter of 2018, figures driven by a growth in orders for cryptocurrency mining chips. During its shareholder conference call on Thursday, the world’s largest independent semiconductor maker said it generated 248 billion Taiwan new dollars (US$8.5 …

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UBS-Backed Blockchain Platform Completes Live Trade Transactions

Batavia, a blockchain-based trade finance platform founded by banking giant UBS in partnership with IBM, has conducted its first live cross-border transactions involving corporate clients. According to an announcement released Thursday, the pilot effort saw the platform carry out the full cycle of trades, automatically forming agreements and closing payments, …

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$8,300: Bitcoin Seeks Direction at Key Price Hurdle

Bitcoin (BTC) remains in bullish territory today, but a major break above the long-term descending trendline has been elusive. That failure on the part of the bulls means the cryptocurrency needs a major move above $8,300 soon to lessen the risks of another sell-off. The trendline resistance is around $8,285 …

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$6.3 Billion: 2018 ICO Funding Has Passed 2017’s Total

Initial coin offerings (ICOs) raised more money in the first three months of 2018 than the whole of 2017, according to data collected by CoinDesk. At $6.3 billion, ICO funding in the first quarter is now 118 percent of the total for 2017, a figure that might go a long …

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Enterprise Ethereum Alliance Pledges 2018 Blockchain Standards Release

The Enterprise Ethereum Alliance (EEA) intends to release a set of common blockchain standards for businesses in 2018, one of the consortium’s leading members said Thursday. Onstage at Blockchain Expo in London, Jeremy Millar, a founding board member of the 450-member group, which boasts Accenture, JP Morgan and UBS among …

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Major Investors Met with SEC to Discuss Crypto Exemption

Major crypto industry investors Andreessen Horowitz and Union Square Ventures reportedly held a private meeting with U.S. Securities and Exchange Commission (SEC) officials to discuss the exemption of blockchain-based tokens from the agency’s oversight. The Silicon Valley-based venture capital firms and their special counsel met with senior officials from the …

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Gem Unveils All-In-One Crypto Investment App

Blockchain startup Gem plans to launch a comprehensive platform that will allow users to track, store, trade and discover cryptocurrencies on one app. According to Gem – which has largely focused on enterprise products for companies like Toyota and CapitalOne since its 2013 inception – its all-in-one, user-friendly solution will …

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Insurance Giant Allianz Is Testing a Token to Move Money Internally

Insurance giant Allianz has been testing an internal token to move money around between its global affiliates without having to deal with currency conversions and other costs and inefficiencies. Development of the so-called “Allianz token” is being helped along by blockchain startup Adjoint, which created a proprietary blockchain for the …

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