Facebook’s Libra finds itself in the crosshairs of the Central Bank of Central Banks

It’s been a week since Facebook’s entry into the cryptocurrency and payments world was announced. Since then, a lot has happened. From the Libra lead, David Marcus, talking about shared internal governance control over the cryptocurrency, to the regulatory uncertainty the crypto may face with politicians around the world taking a shot at the it, […]
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Source: AMB Crypto

Tether tops the list on institutional usage despite ongoing backing irregularities

No matter which way you look at it, Tether will always occupy center stage while Bitcoin is in the limelight following its price surge. With the collective community noticing a trend in the market capitalization of USDT and the price rise of BTC, coupled with the slew of controversies surrounding the stablecoin, one key part […]
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Source: AMB Crypto

Large-scale crypto assets under management seek custodial refuge in exchanges not wallets

With the cryptocurrency industry riding a massive bullish wave as Bitcoin, after 15-long months, broke the $10,000 mark, the question of safety has once again surfaced. Large Assets under Management [AUM] or those accounting for in excess of $25 million in funds are opting for exchanges over hot and cold wallets for their protection. This […]
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Source: AMB Crypto

Bitcoin: Institutional Investors peg king coin’s dominance to sustain through 2019

Can Bitcoin pull its weight? For years that has been the question dominating the fray within the cryptocurrency space, especially during its nascent phase. As the months went on, several altcoins began entering the space, with many reframing the question to, can Bitcoin pull the market? The tussle between the Altcoin season and the Bitcoin […]
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Source: AMB Crypto

Cyberattacks and Technology Risks take top spot on cryptocurrency industry concern

The cryptocurrency industry is muddled in a web of financial and technical intricacies, bound together by the principled opposition to the centralized currency of the sovereign behemoths. Decentralized currency is the brainchild of a continuously developing technology-centric world, and, according to its adherents, the biggest risk to the cryptocurrency world emanates from the same. According […]
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Source: AMB Crypto

Bitcoin’s surge over $10,000 carpet-bombs traders as shorts worth $64.38 million get liquidated

The relationship between the Bitcoin [BTC] Spot and Futures market can be summed up as, “I scratch your back, you scratch mine.” On several occasions, the price of the largest cryptocurrency in the market on Futures exchange has been a tell-tale for its Spot equivalent. Subsequently, whenever BTC has surged, naysayers touting shorts have been […]
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Source: AMB Crypto

Bitcoin: From the 1% to the masses; how the masses are embracing the king coin

Conceived as a method of payment and a store of value for the greater public good, you would think Bitcoin would be widespread and equitable. However, a decade on, whales have dominated the fray. Until now, larger hoarders moving the top cryptocurrency back and forth between accomplices were, as some would say, holding the supply […]
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Source: AMB Crypto

Kraken sounds warning against ‘phishing’ involving Punycode lookalike; troubled waters ahead?

Kraken, the American cryptocurrency exchange that often skirts the line between being a real exchange and having a flawed exchange order and liquidity system, has once again run into a spot of bother. However, not with veteran trader Peter Brandt this time around. Instead, it is with malicious players operating a phishing ploy. On June […]
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Source: AMB Crypto

Top Gainers: Bitcoin breaches $10,000; BYOB for Ethereum, Bitcoin Cash and Binance Coin

The top cryptocurrency in the market, at press time, was surging by 10.11 percent against the US dollar over a 24-hour window, with the figure looking likely to grow as BTC’s hourly gains were just under 3 percent. Beginning at 2300 on 21 June, the price began surging, breaking the five-figure mark by midnight and […]
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Source: AMB Crypto

Facebook’s Libra has the downside of volatility without the upside of investment, claims ex-Coinbase CTO

Primed as the “next big thing” in the intersection of the payments and technology industry, Facebook’s foray into the cryptospace took the market by storm, following its unveiling on June 18. As more and more layers of Project Libra are peeled off, the more positive does it look for the social media giant, with many […]
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Source: AMB Crypto

Bitcoin continues to hover over $9,000; did Facebook’s Libra prolong bullish swing?

Over a week ago, Bitcoin was trading at $7,650 and was rebounding off $8,000 for the second time in a matter of days. Now, the largest cryptocurrency in the market has marked a 13-month high and is trading for the third consecutive day over $9,000. So, what happened over the past week to move the […]
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Source: AMB Crypto

Tether is ‘Extremely Healthy,’ despite irregularities and controversies, claims Longhash report

Since half of 2019 has passed by, we can now gain a firm perspective on the cryptocurrency market’s trends over the past six months. Bitcoin is up over 140 percent, crypto-exchanges are still vulnerable and on the face of it, Tether is still mired in controversy. Closing last year with allegations of a lack of […]
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Source: AMB Crypto

Facebook’s Libra speculated to wash away MoneyGram; Ripple effect on the horizon?

What a week it has been for the cryptocurrency industry, with Facebook unveiling its cryptocurrency project, Libra, and Ripple confirming a $50 million investment in MoneyGram. Needless to say, the payments industry will be the prime focus now. However, the question remains, which way will the needle swing? On one hand is Facebook which has […]
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Source: AMB Crypto

Bitcoin breaching its 200-day MA was the ‘trigger’ that precipitated recent bull run, claims Fundstrat’s Thomas Lee

Bitcoin [BTC], now reinvigorated and recharged, once again affirmed its position as the king of the cryptocurrency market by climbing out of the price swap and into the bullish heaven of $9,000. After days of sluggish movement, the bullish swing towards the end of the previous week not only broke the ceiling, but several ceilings above it.
With the market and the market leader, Bitcoin, now on a 13-month price high, it does pay dividends to look back and mull over the coin’s rise. The bull run was initiated on April 2, when the price saw a 17 percent daily gain and surged over $5,000. Since that unprecedented high, the market has broken multiple psychological and resistance levels on the back of several announcements relating to adoption and distribution implementations.
While there seems to be no concrete trigger for this price surge, a prominent analyst in the space suggested that the happening of a key technical event may have buoyed the BTC market and pushed it onto a positive price path. Fundstrat’s Head of Research, Thomas Lee, opined in a recent tweet that the “trigger,” albeit from a price chart point of view, was the 200-day moving average being overtaken.
Lee added that given the rapidity of the price rise, the only strategy that makes sense was going and staying “long,” as traders who have been shorting Bitcoin are facing stiff losses over the past few months.
Source: Trading View
His tweet read,

Bitcoin has acted very differently since it crossed above its 200D mavg (early April).
Since then, the best strategy has been to stay long. #Hodl
— Thomas Lee (@fundstrat) June 17, 2019
The weekend prior to the BTC price rally on April 2, several analysts had suggested that a breakout over this range would signal a commendable push upwards. In retrospect, “commendable” is a stark understatement and does no justice to the scale of the price rise.
The 200-day MA was placed at $4,623, as Bitcoin was trading under $4,100 and as the bulls struck the market, the moving average was broken, alongside the resistance of $4,200. Within hours of these two levels being left in BTC’s wake, $5,000 was passed. According to Lee, this 200MA breach indicated a BTC breakout, one that has not only failed to slow down, but looks to get stronger with every passing week.
Bitcoin was not satisfied with the passing of the 200-day MA however, and less than 20 days after the monumental event, another important mark was surpassed. On April 22, the cryptocurrency entered its “Golden Cross,” after the 50-day MA overtook the 200-day MA. According to many analysts, this was the final nail in the coffin for the “crypto-winter,” with only spring on the horizon.
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Source: AMB Crypto

Craig Wright will have to prove he’s Satoshi Nakamoto by Monday

Craig Wright’s long drawn out one-sided claim of being Satoshi Nakamoto, the creator of Bitcoin looks to have finally hit the wall. In a recent update in the court case involving the Bitcoin SV [BSV] leadman and Dave Klieman’s estate and family, the Florida court granted a motion to compel Wright to prove his BTC holdings by June 17.
The United States District Court of the Southern District of Florida handed down the motion to Wright on June 14, as revealed by lawyer Stephen Palley.
In addition to Wright sending out legal notices to those who call him out to be a “fraud,” for his self-attestation to being the creator of Bitcoin, the BSV man was also caught in a legal spat with the deceased Dave Kleiman. The legal dispute now taken over by Klieman’s estate accused Wright of ‘misappropriating’ over a million Bitcoin, which values over a billion dollars USD, following a previous professional relationship between Kleiman and Wright almost a decade ago.
The current Wright vs. Kleiman case has been ongoing for several months with the judge instructing Wright to present a list of Bitcoin addresses which he claimed he owned as on December 2013. Wright responded that to produce a list of his Bitcoin holdings would be “unduly burdensome”, however, the court quickly dismissed this excuse.
During the previous proceeding, in early May, Ira Kleiman, responded to the “unverified order” asking for Wright to produce the list of BTC owned as of December 31, 2013, identify the transferred Bitcoins to the blind trust in 2011, and produce documents evidencing the same. Wright was also expected to identify current and past trustees and beneficiaries of the blind trust under oath, and finally, allow for further deposition, with reference to the ownership and control of the disputed Bitcoins.
Given the motion to compel has already been leveled against Wright and his inability to provide evidence of the 2013 Bitcoin addresses has already been revealed, a non-compliance of the same is likely. If Wright does go down this path, he will be held in contempt of court which could probably be charged as a criminal act. Depending on the court and the judged, this criminal act could result in a substantial fine or jail time for the nChain chief scientist.
The court document further read that Wright will have to appear before the court on or before June 28 “to show cause why the undersigned should not certify the facts recited above,” and  “to show cause why he should not be adjudged in civil and/or criminal contempt by reason of these facts.”
Well, it looks like Wright’s claims of being Satoshi Nakamoto took a Wrong turn.
The complete document, dated June 14, can be read here.
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Source: AMB Crypto