World Gold Council Blinks, Claims Bitcoin’s ‘No Replacement for Gold’

By CCN: Gold may have a value of $7.8 trillion, but it isn’t happy about giving any of that up to bitcoin, the latter of which has a market cap of $97.2 billion. A day after Grayscale unleashed its “Drop Gold promotion, a TV commercial that garnered 100,000 views in less than 24 hours, the World Gold Council is clapping back. Gold’s reputation as a store of value has gone pretty much uncontested for thousands of years – until bitcoin, which has earned the reputation as digital gold in addition…

Crypto Theft Could Hit $1.2 Billion in 2019, Says Cipher Trace

Crypto theft has greatly reduced this year compared to last year as regulators continue to enhance their scrutiny and the enforcement of anti-money laundering controls. Crypto Theft Could Hit $1 billion Mark Despite being $500 million less than last year, crypto theft could still go well beyond a billion dollars by the end of this year. A quarterly report released on May 1 by Cipher Trace indicates that investigatory specialists had found that over $356 million worth of crypto had been stolen in Q1 2019. The amount stolen includes the CoineBene…

22% of Institutional Investors Own Digital Assets

United States-based asset management firm Fidelity Investments released the results of a survey showing that 22% of institutional investors already own digital assets, in a press release published on May 2. The release claims that the firm surveyed 411 U.S. institutional investors among which 40% of respondents said that they are open to future investments in digital assets in the next five years. Furthermore, almost half (47%) of respondents said that they see a place for digital assets in their investment portfolios. Most investors (72%) prefer to buy crypto investment…

Bitcoin’s Future is Shining but BTC Bulls under Liquidation Pressure

Bitcoin (BTC) stable above $5,000 Adoption will drive BTC prices higher For mainstream adoption of digital assets, there must be utility. Bitcoin as a peer-to-peer cash system is useful with a secure network that is censorship resistance and immune to politics. With increasing use fueled with next year’s halving, Bitcoin (BTC) is likely to expand. Bitcoin Price Analysis Fundamentals Bitcoin adoption is all about the number of individuals willing to ditch fiat and hold BTC. To satisfactorily gauge how many do, analysts track active Bitcoin addresses. Good news is, despite…

Binance’s Compliance Drive Continues With New Elliptic Partnership

Cryptocurrency exchange Binance is continuing to ramp up its regulatory compliance efforts. The exchange has just partnered with blockchain analytics startup Elliptic to boost its compliance and security capabilities, Elliptic announced Thursday. The new partnership – the third relating to compliance in the last two months – will help Binance combat money laundering as it grows into new jurisdictions, the exchange’s chief compliance officer Samuel Lim said. Elliptic’s software helps identify potential transactions linked to illicit activities such as money laundering and terrorist financing, and is claimed to have monitored risks…

3 Price Hurdles That Could Complicate a Bitcoin Rally to $6K

View Bitcoin is looking north, having closed above the 21-month exponential moving average (EMA) on April 30. Forcing a quick rally to $6,000, however, may be difficult for the bulls, as a number of key resistance levels are lined up in the $5,400–$5,900 range. The short-term outlook will remain bullish as long as the price is holding above the 30-day MA at $5,199. Bitcoin, however, risks falling back to that level in the next 24-hours, according to the short duration charts. A close below the 30-day MA would boost the…

Blockchain Will Revolutionize 300 Years of Stock Trading: London Stock Exchange

By CCN.com: The London Stock Exchange (LSE) is weighing the benefits of using blockchain technology for issuing stock and settling trades. In an interview with CNBC, the LSE chief executive Nikhil Rathi said he was inspired by early blockchain initiatives at other stock exchanges, and sees the benefit of distributed ledger technology: “You can certainly see distributed ledger technology having an application in the issuance process… I can see that technology being used in settlement too.” LSE, the world’s sixth-largest stock exchange, has been surprisingly open to blockchain technology. Earlier…

Blockchain Hype Turns to Mainstream Adoption in Billion-Dollar Corporations

By CCN.com: Forty percent of senior finance executives expect their firms to invest in blockchain technology over the next two years, according to a recent survey by audit firm Grant Thornton LLP. That’s in addition to the 22 percent who report their firms have already implemented the technology. This marks a dramatic change from only a year ago, when blockchain was more talked about than practiced, according to Chris Stephenson, Business Consulting principal at Grant Thornton LLP and author of the report. In its 2019 CFO Survey, Grant Thornton along…