Poloniex splits from Circle; finds new backing ‘led by’ Tron’s Justin

Cryptocurrency exchange Poloniex published a blog post stating that they would be separating from parent company Circle, rebranding as Polo Digital Assets and ending support for US customers on the exchange. They also said that they would be backed by a major Asian investment group, but did not mention any names, though reports suggest the […]
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Source: AMB Crypto

Binance is OKEx’s biggest competitor, says Andy Cheung

OKEx’s Head of Operations, Andy Cheung, participated in a pre-announced AMA on Telegram today, ‘challenging’ the community to ask him their ‘toughest questions.’ Cheung started off by talking about how OKEx had recently upgraded its Futures trading system, which improved its placement and transactions speeds. He also said that the same upgrade would be applied […]
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Source: AMB Crypto

Cryptos companies can excel in public markets but reliant on BTC bulls

Over the last decade, crypto start-ups in the virtual asset industry have been able to generate the primary cash flow via conducting Initial Coin Offerings, whereas new exchanges in the sector would file IEOs to bolster their funding. Investors’ interest had also surged over the years but in order to enter larger capital markets, a move […]
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Source: AMB Crypto

Ethereum may break out of stagnancy by breaching falling wedge

Over the last 22 days, Ethereum has witnessed a change of only 5.30 percent. The change observed is significantly less in light of the period of stagnancy looming over the market. At press time, Ethereum was valued at $176.89 and registered a growth of 0.64 percent over the last 24 hours. A short-term analysis exhibited […]
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Source: AMB Crypto

Ethereum’s breakout from flag pattern could drop price to $127

Ethereum has recovered considerably from its drop last month, and was valued at around $173, at the time of writing. The Ethereum network’s native token, ETH, also ranks 2nd in the list of the world’s largest cryptocurrencies, with a market cap of almost $19 billion and a daily trading volume of nearly $8 billion, according […]
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Source: AMB Crypto

IRS’s treatment of fork, airdropped coins as income prompts debate

“.. if I could have one word that would just be to describe this whole guideline will be just whack, I mean, they’re just not thinking about what their guideline means,” said Brandon Green, Project Manager for BTC Inc while talking about the recently released guidelines and clarifications about its crypto tax policy by the […]
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Source: AMB Crypto

Bitcoin still making its way into global monetary base

This year the crypto industry lured several companies as well as countries into its ecosystem. While this did put cryptocurrencies and Bitcoin in the mainstream spotlight, several authorities dissed the duo including the President of the United States. When authorities publicly snub cryptocurrencies, the regulatory climate surrounding Bitcoin being a part of the monetary base […]
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Source: AMB Crypto

Bitcoin options market pricing only 5% probability of pushing past $20K by March

Skew, a company that provides real-time data analytics for Bitcoin and Ether derivatives, recently posted on their Twitter account how their data suggested the options market is only pricing in a 5% probability of Bitcoin pushing past $20,000 in March next year. The options market is only pricing in a 5% probability of BTC > […]
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Source: AMB Crypto

Litecoin targets bullish breakout as descending channel takes form

Litecoin, the digital silver was worth $56.48 after a minor slump of 0.50%, at press time, holding a market cap of $3.583 billion. During the past weeks, the coin failed to gain a breakout to the upside and bulls rested below the crucial $60-range. Litecoin’s 3-Day Chart: The candlestick arrangement on Litecoin’s 3-day chart against […]
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Source: AMB Crypto

SEC halts Telegram’s $1.7 billion ‘unlawful’ token offering

The US Securities and Exchange Commission [SEC] announced filing for emergency action and obtained a temporary restraining order against two offshore entities, Telegram Group, and its subsidiary TON Issuer for raising over $1.7 billion of investor funds thus halting the messaging giant from selling or distributing its Gram tokens within the U.S. SEC’s complaint alleged […]
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Source: AMB Crypto

Ripple’s Xpring announces investment in Vega Protocol; platform adding XRP as collateral

One of the world’s leading blockchain payment systems, Ripple, has been making a lot of news lately. Ripple’s Xpring initiative today announced investing in Vega Protocol, which is essentially a protocol for creating and trading derivatives on a decentralized network. The official release authored by Xpring’s Director, Vanessa Pestritto, stated, “Decentralized finance is innovating on […]
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Source: AMB Crypto

South Africa’s Xago launches XRP-exclusive gateway, exchange in the country

With an intent to generate liquidity for XRP in South Africa, the Cape Town-based fintech company, Xago, has revealed the launch of a custom-built exchange and “Ripple gateway” in the country. The exchange exclusively enables trading, sending and receiving of XRP, while employing RippleNet to do the same. According to Xago’s official press release, the […]
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Source: AMB Crypto

Ripple’s Brad Garlinghouse says China is using crypto to dislodge U.S Dollar

Brad Garlinghouse, CEO of Ripple, has been making a lot of public appearances lately. Recently, he appeared on FOX Business to discuss U.S cryptocurrency regulations, accusations of Ripple pressurizing the market, and China’s upcoming yuan-backed stablecoin. Addressing the latter, he said, “It should be a call to action for the United States. So far the […]
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Source: AMB Crypto

EU’s Finance Commissioner pledges common regulations for crypto-assets like Libra

On Tuesday, the EU’s Finance Commissioner, Valdis Dombrovskis, pledged that he would propose new rules to regulate virtual currencies such as Libra, following his reappointment. This is an interesting statement to make as in the five years he has served so far, Dombrovskis has not taken any steps to regulate digital assets, despite a series […]
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Source: AMB Crypto

Litecoin’s breach of descending channel suggests trend reversal

Following the fall of Bitcoin on 24 September, there was a major scare about altcoins following suit. And, while the likes of Ethereum and XRP did fall in valuation, they managed to correct themselves and recovered their losses, unlike the largest asset in the industry. Litecoin was also a target of the bears’ wrath, suffering […]
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Source: AMB Crypto