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| January 19, 2019

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Snap loses its chief financial officer for second time in less than a year

January 15, 2019 |

Snap Inc. Chief Financial Officer Tim Stone is resigning eight months after joining the social media company, sending shares tumbling in extended trading.

Stone’s departure isn’t related to any disagreement on the company’s accounting, strategy, financial or other practices, said the company —…


L.A. Times – Business

CNN

WSJ: White House requested plans last year from Pentagon to attack Iran

January 14, 2019 |

The White House’s National Security Council asked the Pentagon last year for plans for launching a military attack against Iran, the Wall Street Journal reported early Sunday, citing current and former US officials.
CNN.com – RSS Channel – World

Apple Plans Three New iPhones This Year, Plays Catch-Up on Cameras

January 13, 2019 |

Apple is planning to release three new iPhone models again this fall, including one with a triple rear camera.
WSJ.com: US Business

Apple Plans Three New iPhones This Year, Plays Catch-Up on Cameras

January 12, 2019 |

Apple is planning to release three new iPhone models again this fall, including one with a triple rear camera.
WSJ.com: What’s News Asia

Japan Approves 17th Cryptocurrency Exchange – Its First in Over a Year

January 12, 2019 |

After Over a Year, Japan Finally Approves the 17th Cryptocurrency Exchange

It has been over a year since Japan’s Financial Services Agency last approved a cryptocurrency exchange to legally operate in the country. Coincheck, which was hacked early last year, has become the 17th fully-registered crypto exchange in the country. The exchange has made numerous improvements after it was acquired by Monex Group.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

FSA Finally Approves Coincheck

Japan Approves 17th Cryptocurrency Exchange – Its First in Over a YearJapan’s top financial regulator, the Financial Services Agency (FSA), announced on Friday that it has approved the registration of Coincheck as a cryptocurrency exchange. Under the country’s Payment Service Act, all crypto exchanges must register with the FSA.

The exchange’s parent company, Monex Group, also issued a press release on Friday with registration details. The announcement reads:

Coincheck Inc … announced today that it has registered with the Kanto Financial Bureau as a cryptocurrency exchange agency in accordance with the Payment Service Act, effective January 11, 2019.

Japan Approves 17th Cryptocurrency Exchange – Its First in Over a YearAccording to the FSA’s website, Coincheck handles nine cryptocurrencies: BTC, ETH, ETC, LSK, FCT, XRP, XEM, LTC, and BCH.

Japan Approves 17th Cryptocurrency Exchange – Its First in Over a YearAfter it was hacked in January last year, Coincheck suspended certain services “to focus on enhancing governance and internal controls by developing business improvement plans and carrying them out,” the company explained. On Nov. 26, services for tradable cryptocurrencies were resumed including depositing, remitting, purchasing and selling.

Coincheck originally applied for registration with the FSA in September 2017. While the regulator approved 16 crypto exchanges throughout that year, it continued to evaluate Coincheck. The exchange was classified as a deemed dealer, which means it was allowed to operate while the FSA reviewed its application.

Needed Improvements Made

Japan Approves 17th Cryptocurrency Exchange – Its First in Over a YearIn Friday’s announcement, Coincheck outlined six areas it had addressed in order to comply with the FSA’s registration requirements. The exchange has “improved governance fundamentally,” “revisited the business strategy and ensured customer protection,” “strengthened governance control by the board,” “clarified risks on cryptocurrencies being offered by the company,” “implemented measures on anti-money laundering (AML) and countering the finance of terrorism (CFT),” and “revised organizational structure to ensure validity.”

Japan Approves 17th Cryptocurrency Exchange – Its First in Over a YearMonex Group made an announcement on Dec. 25, explaining to investors that neither it nor Coincheck offers “cryptocurrency mining-related business including cryptocurrency mining itself.” This clarification followed the announcements by GMO Internet and DMM.com regarding their own mining operations. GMO Internet said it will no longer develop, manufacture, and sell mining machines. DMM.com is reportedly exiting the cryptocurrency mining business altogether.

Furthermore, the company assured investors that it “does not conduct cryptocurrency transactions on its own account,” adding:

Coincheck Inc. does conduct cover transactions with domestic and overseas cryptocurrency exchanges speedily for the positions that resulted from the selling and buying transactions with customers.

The approval of Coincheck comes more than a year after the last cryptocurrency exchange, Bitocean, was approved by the FSA on Dec. 26, 2017. The hack of Coincheck in January prompted the agency to slow down the rate of approvals and began tightening its oversight of crypto exchanges, forcing 13 out of 16 deemed dealers to exit the market. Nonetheless, the FSA told news.Bitcoin.com at the end of last year that more than 190 crypto exchange operators have expressed their intention of market entry.

What do you think of the Japanese regulator finally granting registration to Coincheck? Let us know in the comments section below.


Images courtesy of Shutterstock and Coincheck.


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The post Japan Approves 17th Cryptocurrency Exchange – Its First in Over a Year appeared first on Bitcoin News.

Bitcoin News

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record

January 8, 2019 |

When looking at monthly market performance, 2018 was the bloodiest year in the history of the cryptocurrency markets. Of the seven largest cryptocurrencies by market cap, only three were able to produce more than two green monthly candles during 2018.

Also Read: Bitblock Publishes Alternative Valuation Model That Suggests BTC Is Underpriced

BTC and ETH Produce Most Red Monthly Candles in Calendar Year Ever

In 2018, bitcoin core (BTC) saw the most red monthly candles in its history, posting three green and nine red monthly candles throughout the year. BTC gained 2% during the month of February, 33% April, and 21% July. The price of BTC fell by roughly 73% during 2018, opening the year trading for $ 13,900 and closing 2018 at roughly $ 3,700.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
BTC/USD – Bitstamp – 1M, 2018

Based on monthly performance, the second most-bloody year in BTC’s history was 2014, during which BTC posted four green and eight red monthly candles. In 2014, BTC fell by 56% from $ 730 to $ 320.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
BTC/USD – Bitstamp – 1M, 2014

ETH also posted its poorest annual performance during 2018 with three green and nine red monthly candles. The price of ETH gained 53% in January, nearly 75% in April, and 19% in December of last year. Overall, ETH shed nearly 82% of its value during 2018, falling from roughly $ 735 to start 2019 trading for $ 135.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
ETH/USD – Poloniex (Estimated by Tradingview) – 1M, 2018

XLM Posts Strongest Monthly Performance of Top Markets

Stellar (XLM) was the strongest performing cryptocurrency of 2018 when counting green candles, posting four green and eight red candles during last year. XLM started 2018 with a gain of 53% in January, before gaining 103% in April, 44% during July, and 17% in September.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
XLM/USD – Bittrex (Estimated by Tradingview) – 1M, 2018

Despite performing better than many other crypto assets during 2018, XLM posted its worst performing year on record. XLM lost 67% during last year, opening 2018 at $ 0.35 and closing the year below $ 0.12.

BCH, XRP, EOS, and LTC Post Just Two Green Monthly Candles During 2018

BCH posted green months during April and July of 2018, during which it gained 97% and less than 4% respectively. Overall, BCH shed roughly 94% of its value last year, trading for nearly $ 2,400 at the start of January and closing the year at roughly $ 150.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
BCH/USD – Kraken – 1M, 2018

XRP’s sole green months for the year were April and September, which saw monthly gains of 66% and 74%. XRP posted an annual loss of 82%, falling from nearly $ 1.97 to end 2018 trading for $ 0.36.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
XRP/USD – Bitfinex – 1M, 2018

EOS saw bullish action during January and April of last year, during which the market posted gains of 59% and 195% respectively. EOS dropped by 78% during 2018, sliding from $ 12.17 to close the year at $ 2.62.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
EOS/USD – Bitfinex – 1M, 2018

LTC Produces Second-Most Bearish Year on Record

During 2018, LTC posted modest monthly price gains in February and April, with LTC increasing by 23% and 28%. Overall, LTC fell by 86% last year.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
LTC/USD – Coinbase – 1M, 2018

Despite the heavy losses, 2018 comprised LTC’s second most-bearish year on record. During 2014, LTC fell 88% from roughly $ 23.80 to $ 2.75, and only posted a single green monthly candle.

Leading Crypto Markets Post Worst Year of Monthly Price Action on Record
LTC/USD – Bitfinex – 1M, 2014

Do you think the worst of the bear trend has already passed? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Tradingview.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Leading Crypto Markets Post Worst Year of Monthly Price Action on Record appeared first on Bitcoin News.

Bitcoin News

Fed Chairman Powell Sees Flexibility on Rates This Year

January 5, 2019 |

Federal Reserve officials laid the groundwork to take a break from raising short-term interest rates in coming months, propelling stock prices already cheered by a stronger-than-expected December jobs report.
WSJ.com: What’s News Asia

144 ICOs Launched During 2017 Failed Last Year

January 3, 2019 |

144 ICOs Launched During 2017 Failed Last Year

Coinopsy, a website that maintains an active catalog of “dead” cryptocurrencies, currently estimates that 264 altcoins failed to survive the 2018 bear market. Of the projects that did not survive to see 2019, more than half were launched in 2017 through an initial coin offering (ICO).

Also Read: Last Year’s Altcoin Army Have Become This Year’s Bitcoin Brigade

264 Altcoins Failed to Survive 2018

144 ICOs Launched During 2017 Failed Last YearAccording to Coinopsy’s catalog of dead coins, 264 cryptocurrencies that were active at the start of 2018 have since failed.

The website defines a dead coin as comprising “a token or coin that has been abandoned, scammed, website dead, no nodes, wallet issues, no social updates, low volume or developers have walked away from the project.”

Two of the projects that died last year did so for the second time, with both Philosopher Stones and Scorecoin having launched in 2013 and failing the following year, before apparently resurrecting as a response to the 2017 bull market.

55% of 2018’s Failed Projects Were Launched Through ICO in 2017

Coinopsy divides dead coins into four categories determined by whether a failed cryptocurrency comprised an initial coin offering, a joke, a scam, or an abandoned project.

144 ICOs Launched During 2017 Failed Last YearOf the 264 cryptocurrencies that failed to survive 2018, 144 comprised ICOs that launched during the preceding year, highlighting the risks associated with investing in initial coin offerings.

The list predominantly comprises ICOs that either outright failed or comprised scams, such as Dimoncoin, a project that “had a loophole in the smart contracts that allowed the creator to mint unlimited tokens.”

The second largest category of cryptocurrencies that died during 2018 were projects that were abandoned by their developers, comprising 27 percent of the year’s death toll. A total of 73 altcoins were abandoned last year, including Rare Pepe Party, Masternode Community Coin, and India Coin.

20 percent of last year’s failed cryptocurrencies are suspected of comprising scams, with 55 projects accused of fraudulent activity.

Do you think that the ICO sector will continue to see widespread failures throughout 2019? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post 144 ICOs Launched During 2017 Failed Last Year appeared first on Bitcoin News.

Bitcoin News

North Korea Nuke Test Triggers Earthquake More Than a Year Later

January 3, 2019 |

A small earthquake in North Korea on Wednesday was caused by a nuclear test that country conducted more than a year ago, CNN reports. The September 2017 test—the country’s sixth and most powerful—caused an initial magnitude 6.3 quake, per phys.org , followed by a magnitude 4 earthquake…
Newser

2018 was a year to forget for stock strategists, who missed by 400 points

January 1, 2019 |

When you predict the same thing will happen to the stock market year after year, eventually you’re going to be wrong.

That’s what happened to Wall Street strategists in 2018, whose perennial optimism about U.S. equities got bushwhacked by the worst fourth quarter in a decade. In January, the group…


L.A. Times – Business