Coinspot rubbishes liquidity claims, says it is ‘getting closer’ to turning on Australian dollar deposits
Aussie cryptocurrency exchange Coinspot has described warnings of liquidity issues due to too many customers cashing out as “absolute rubbish and untrue”.
Aussie crypto exchange turns attention to new laws
BTC Markets expects delays, fine-tuning. Australian cryptocurrency exchange BTC Markets has warned users to expect deposit and withdrawal delays as it “fine-tunes” transaction monitoring systems to meet new legal obligations. Last month, financial regulator AUSTRAC was handed the authority to monitor local digital currency exchanges under new Anti-Money Laundering and Counter-Terrorism Financing (AML-CTF) laws. It’s the first time Australia’s digital currency sector has been regulated, and BTC Markets is the first local exchange to detail what that might mean for its operations. The company said it already verified “the identity of our users, their source of funds, and the purpose of their transactions as they occur on our platform … […]
Is bitcoin’s price tumble a warning bell for investors?
Seasoned investors will find it hard to resist a smug “I told you so” if the price of bitcoin continues the swoon which has seen it tumble from its December peak of nearly $US20,000, to around $US13,150 late on Tuesday. That’s because since its creation in 2008, most investors have tended to see bitcoin as a financial market sideshow, of interest to criminals and drug dealers perhaps, but scarcely an asset that could be ranked alongside shares or bonds. But bitcoin’s stunning price rise last year – the digital currency started 2017 at less than $US1000, which meant that it notched up a gain of around 2000 per cent for […]
Bitcoin futures trading company XBT Investments heads for the ASX
Investors who are unsure of how to buy or manage their own cryptocurrencies will have an easy way to be exposed to the volatile asset class, with the first bitcoin investment company readying to list on the ASX this quarter. The float of XBT Investments, which has a management agreement with BitFunds, will invest in bitcoin futures rather than own the cryptocurrency outright. This enables it to overcome the ASX’s listing rules which do not permit pure cryptocurrency investment companies. The listing comes as bitcoin starts the new year trading lower for the first time since 2015, having fallen from almost $18,000 to less than $17,300. The slide comes on […]
First Growth Funds raises funds for blockchain
Investment company First Growth Funds (ASX:FGF) has announced it will raise $3.45 million to expand into the blockchain sector. The company has agreed to issue more than 282 million shares to Australian and international investors, representing just under 25 per cent of the issued share capital of the company. The placement is led by blockchain technology company Blockchain Global which will hold 10 per cent of the issued capital on completion of the placement. The partnership with Blockchain Global is expected to provide strategic deals for blockchain-related investment opportunities. To read more, please click on the link below… Source: First Growth Funds raises funds for blockchain | Finance News […]
Bitcoin stumbles out of 2018 starting blocks
Bitcoin is already having a bad year. For the first time since 2015, the cryptocurrency began a new year by tumbling, extending its slide from a record $US19,511 reached on December 18. The virtual coin traded at $US13,150 as of 12.58pm in New York, down 8.1 per cent from Friday, according to data compiled by Bloomberg. That’s also a fall from the $US14,156 it hit Sunday, according to coinmarketcap.com, which tracks daily prices. Bitcoin got off to a much stronger start last year, and then kept that momentum going, eventually creating a global frenzy for cryptocurrencies. In a sign of its phenomenal price gain in 2017, it rose 3.6 per cent […]
Ripple’s 53 per cent surge makes it the 2nd-biggest cryptocurrency
A new contender has moved into second place in the race to catch bitcoin. Ripple, a cryptocurrency that first surfaced in 2013, surged 53 per cent in 24 hours to surpass ethereum and take the title of the world’s second-most valuable digital coin by market cap on Saturday US time. Ripple’s market value rocketed to $US86 billion ($110 billion), making ether No.3 at $US73 billion. Bitcoin’s market cap is near $US250 billion. It’s the latest twist in the crypto saga known as the “flippening”. That’s what ether enthusiasts call the coin’s anticipated rise to the most valuable by market cap. Rather than catching up to bitcoin, though, ether has fallen […]
Is bitcoin back? Cryptocurrency passes $US16,000 as rebound begins
Bitcoin rallied past $US16,000 ($20,705) on Tuesday US time as traders of the world’s biggest digital currency sought to draw a line under its rollercoaster five-day slump. The tokens rose 16 per cent to as much as $US16,132.09, the biggest gain on a closing basis in more than two weeks and the first in six days. It traded higher by 14 per cent to $US15,659.9 as of 1.36pm in New York. Rival currencies litecoin and ethereum were up 4.4 per cent and 2.6 per cent, respectively, according to data compiled by Bloomberg. High trading volumes at Coinbase, one of the biggest exchanges, forced the company to issue a warning on its website that […]
