Vanguard’s $1.3 Trillion Blockchain Makes Bundesbank Look Foolish

By CCN: Vanguard, the world’s largest provider of mutual funds, is using blockchain to power their enterprise. The investing giant, which popularized mutual funds and exchange-traded funds (ETFs) for the common investor, has been using distributed ledger technology to manage $1.3 trillion worth of index funds, Forbes reports. Vanguard’s Blockchain Manages More Than $1 Trillion in Assets Since February, Vanguard has used blockchain to manage financial data for one-quarter of its assets, valued at $1.3 trillion. More than just a one-off trial, the service is operating live for millions of…

Bitcoin Shines Amid Wall Street Losses

Bitcoin decoupled from traditional markets in May, rising more than $3,000. The cryptocurrency, currently at $8,300 on Bitstamp, is set to end higher for the fourth straight month with 60 percent gains. That is the longest monthly winning streak and the biggest monthly gain since August 2017. Notably, the leading cryptocurrency by market value has put on a good show despite the losses on Wall Street. The S&P 500 index – a benchmark for global equity markets – is on track to end May with a 6 percent loss. Other riskier…

Bitcoin Analyst Bets $250,000 BTC Plunges 75%: Here’s Why He’ll Lose

 By CCN: Several months ago, Tone Vays, a polarizing figure in the crypto community, laid down the gauntlet on Twitter. Doubling down on his gloomy short-term bitcoin price forecast, Vays challenged his critics to take on a bet that’s worth $250,000. Analyst: Bitcoin Price Will Crash Below $2,000 The terms are simple: if the bitcoin price drops below $2,000 before the 2024 halving, Vays wins, and the loser sends him 100 BTC (worth $200,000 that day). On the other hand, if bitcoin does not fall below $2,000 in five years,…

Coinbase Adds Support for EOS Cryptocurrency on Retail Site and Apps

Coinbase has added support for the EOS cryptocurrency for its retail customers. The exchange announced in a blog post on May 30 that the option would be available on Coinbase.com and its Android and iOS apps, allowing users to buy, sell, convert, send, receive or just store EOS. The token was added to its Pro platform back in April. While the EOS option is now available for customers in “most” of Coinbase’s served jurisdictions, the U.K. and the U.S. state of New York are not included initially. “Additional jurisdictions may be…

Bitcoin Price Looks Poised for Pullback But June Could Revive Rally

View Bitcoin fell $1,100 on Thursday, creating a bearish candle on the daily chart and confirming a bearish divergence of a key indicator. Prices risk falling to the 30-day moving average (MA), currently at $7,342, in the next few days. The pullback could be short-lived, as BTC tends to perform well in June, and the long-term bull case is still intact. The case for BTC extending its four-month winning streak in June would weaken if the price finds acceptance below the 30-day MA. Bitcoin is teasing short-term bearish reversal at…

Collapsed Crypto Exchange Cryptopia Owes Creditors $2.7 Million: Liquidators

The liquidators of failed New Zealand crypto exchange Cryptopia have released their first report on the firm’s financial situation, revealing that it owes over US$2.738 million to creditors. The appointed liquidator Grant Thornton New Zealand published its report Friday, saying that 69 unsecured creditors are owed at least $1.37 million and secured creditors over $912,000, with an expected deficit of $1.63 million. Secured creditors include Dell NZ and Coca Cola Amatil (NZ). Staff at the firm are owed $207,000 for outstanding salaries and holiday pay, as well as $177,000 in unsecured debt. Grant Thornton…

Bitcoin (BTC) Price Nosedives: Is This The Start Of Major Correction?

Bitcoin price spiked above the $8,950 and $9,000 levels, but failed to hold gains against the US Dollar. The price declined heavily and traded below the $8,720 and $8,440 support levels. There was a break below a crucial bullish trend line with support at $8,560 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently trading in a bearish zone below the $8,300 level and it could continue lower. Bitcoin price failed near the $9,000 level and declined sharply against the US Dollar. BTC…

Wall Street’s Bitcoin King Defends Crypto Against CNBC FUD

By CCN: CNBC in a recent interview shot a string of arrows seemingly to burst the so-called bitcoin price bubble. Nonetheless, the cryptocurrency emerged unharmed thanks to Bart Smith. The digital asset head of Susquehanna International Group, a Pennsylvania-based trading firm, appeared on Squawk Box to discuss what possibly drove bitcoin up 145% year-to-date. While admitting that it was difficult to narrow down a price rally into specific factors, Smith hinted that the root of bitcoin’s exceptional performance in 2019 maximally lied in one thing: optimism. He said: “There is…

Down $500 in Minutes: Bitcoin Rally Stalls As Price Rejected Above $9K

Bitcoin’s price peaked above $9,000 for the first time in over a year earlier today, but the rally was short lived as its price returned below $8,600 just minutes later. At 16:00 UTC, the world’s largest cryptocurrency jumped 4.6 percent from today’s UTC opening price of $8,681 and climbed as high as $9,084 – its highest price since May 10, 2018, according to CoinDesk pricing data. However, sellers quickly halted the rally, causing the price of bitcoin to drop more than $500 to $8,548 in just 30 minutes after reaching…

Huobi Clamps Down on Crypto Wash Trading After Bitwise Report

Huobi Global said it does not engage in any wash trading, and has taken steps to discourage such activity in the wake of a report implying the crypto exchange reported fake trading volume. Livio Weng, CEO of Huobi Global, told CoinDesk through a spokesperson that the exchange “is not involved in any wash trading,” and any such actions would go against the exchange’s “core values.” A report by Bitwise Asset Management which implied that Huobi reported inflated trading volume “surprised” its team, he said, and the exchange “subsequently did a thorough…