BitGo Gets Approval From State Regulators to Launch Custody Service

BitGo has received the green light from the South Dakota Division of Banking to act as a qualified custodian for digital assets, according to a Business Wire press release. The approval means the BitGo Trust Company can now offer secure storage for digital assets “designed for institutional customers,” Chief Compliance Officer Shahla Ali told Bitcoin Magazine. “Built on BitGo’s multisignature security, BitGo Custody delivers modern security for modern assets,” Ali continued. Ali went on to explain that “BitGo has been working on its application for its charter to be a…

ConsenSys Exec. Predicted Ethereum Price Would Hit $2,000 in 2018

The unfortunate side effect of making specific predictions about future events is that you eventually have to measure your claims against reality. For cryptocurrency bulls who made 2018 price targets in December and early January, that reckoning is rapidly approaching, and one such price prediction has been making the rounds on social media this week. Revisiting One Ethereum Bull’s ‘Flippening’ Call On Jan. 2, ConsenSys Capital co-founder Andrew Keys rang in the new year with an article titled “18 Blockchain Predictions for 2018.” Like many cryptocurrency analysts at the time,…

Blockchain Could Bring $1.1 Trillion in New Global Trade, Says WEF

A new report from the World Economic Forum has high hopes for blockchain with revenue growth predicted to be over $1 trillion in world trade. The white paper published in June examines supply chain management and the enormous role that blockchain will play in the near future, particularly with SMEs (small or medium-sized businesses). The Asian Development Bank estimates that there is a $1.5 trillion trade gap/trade deficit which is projected to increase to $2.4 trillion by 2025. The gap is largely due to smaller businesses having insufficient access to…

Back Over $200 Billion: 3 Reasons Crypto Prices Could Be Heading Higher

The cryptocurrency market has been making history for all the wrong reasons as of late, most notably by recently surpassing the plunge of the infamous Dot-Com bubble in the early 2000’s. With that said, cryptocurrencies tend to make recoveries when all hope is seemingly lost, and today’s price action of the world’s second largest cryptocurrency, ether and many others is no exception. At press time, several of the top 10 cryptocurrencies by market capitalization are reporting 24-hour gains above 10 percent, including monero (XMR), litecoin (LTC), and EOS. Ether (ETH)…

Berkeley Professor Questions Stablecoin Viability in Unflattering Op-Ed

University of Berkeley Professor Barry Eichengreen has taken a swipe at the viability of stablecoins in an op-ed published on Project Syndicate. The critique, entitled “The Stable-Coin Myth,” argues stablecoins are not automatically “viable” just because they are pegged to an asset, though Eichengreen does believe they have an advantage over “conventional cryptocurrencies” such as bitcoin which he says “is highly unstable” and “unattractive as units of account.” “Stable coins purport to solve these problems. Because their value is stable in terms of dollars or their equivalent, they are attractive…

Bitcoin Price Intraday Analysis: BTC/USD Invalidates Bear Pennant

Bitcoin price on Thursday escaped its prevailing downtrend and appreciated close to 3 percent against the US Dollar. The BTC/USD started the day in support of the late-night breakout action from Wednesday, in which the pair broke above the symmetric triangle resistance – what could have been a bear pennant if the price had continued to its downtrend. Therefore, the price continued to form high highs during the Asian trading session, a sentiment that rippled through the entire European trading day. Overall, BTC/USD managed to retest the very psychological resistance sentiment…

FOAM Is Live: Decentralized World Map Launches on Ethereum

One of the year’s most hotly anticipated blockchain applications is now live. FOAM, which aims to build a reliable, resilient world map using smart contract technology, announced that the decentralized application (dapp) has launched on the ethereum blockchain and is already “seeing the first users populate the map.” Speaking to CoinDesk in June, FOAM co-founder and CEO Ryan John King explained the motivation behind the dapp, saying “people think location is a solved problem.” Rather, King argued, centralized mapping services like GPS – which is owned by the U.S. government…

Ethereum, Monero Lead Crypto Market Recovery with 17% Gains, Each

The cryptocurrency market capitalization on Thursday recovered by almost 6.8 percent after establishing its yearly low just yesterday. All the top coins recorded decent bullish corrections, with Ethereum and Monero leading the charts with maximum gains. of 17 percent each. Dash, Cardano, IOTA, Tron, and Litecoin closely followed with a double-digit percentage rise in their respective values. Bitcoin, on the other hand, surged comparatively lower than its peers – around 3 percent. The upsurge has added $12.7 billion back to the cryptocurrency industry since its bottom formation around $186 billion.…

Bitcoin Price Looks North After Passing $6.4K Resistance

Bitcoin (BTC) is teasing a decent bullish move, having cleared crucial resistance a few hours ago. The leading cryptocurrency moved past $6,400 earlier today, signaling that bearish exhaustion – as indicated by Tuesday’s spinning bottom candle – is paving way for a corrective rally. Notably, the positive price action was preceded by a solid defense of the long-term trendline connecting the June low and Aug. 11 low and an upside break of the symmetrical triangle. As a result, the stage looks set for an upside move. However, caution is still…

Mt Gox’s Corporate Creditors Can Now File Claims for Bitcoin Refunds

The trustee of the long-defunct bitcoin exchange Mt. Gox has announced that corporate creditors can now enter claims to claw back trapped bitcoin through a recently approved rehabilitation process. Nobuaki Kobayashi, attorney-at-law and the rehabilitation trustee for Mt. Gox said in a release on Wednesday that former corporate users of the exchange will have until Oct. 22 to file proof backing up their claims for refunds of crypto assets held by the exchange. “We have released an online rehabilitation claim filing system … which allows corporate users to file their…