Bitcoin Will Conquer Wall Street

 By CCN: Bitcoin will completely disrupt the entire tech industry, Silicon Valley, and Wall Street. That’s the wildly-optimistic outlook of a former executive at crypto unicorn Coinbase. Crypto Will Disrupt EVERYTHING Despite making a surprise exit from the cryptocurrency exchange last month, Balaji Srinivasan says he remains a firm believer in bitcoin’s future. Srinivasan served as Coinbase’s chief technology officer (CTO) for close to a year before announcing his departure in May. One month later, Srinivasan unleashed a tweetstorm concretizing his reputation as the most rabid of bitcoin bulls. More…

The FBI Is Looking for QuadrigaCX Victims

Multiple criminal investigative agencies within the U.S. are looking into the circumstances of the now-defunct Canadian crypto exchange QuadrigaCX. According to a press release published Monday, the FBI, the Internal Revenue Service’s Criminal Investigation division (IRS-CI), the U.S. Attorney General’s office for the District of Columbia and the Department of Justice’s Computer Crime and Intellectual Property Section are investigating the exchange, which filed for bankruptcy following the death of its founder and a months-long civil rehabilitation process. The FBI published a questionnaire for victims, asking for personally identifying information, contact…

Dutch Crypto Exchange Blockport Shuts Down, Vows to Return

Blockport, a cryptocurrency exchange based in the Netherlands, has been been forced to close due to lack of operating capital, but it’s vowed to return. According to a filing reported by The Next Web, the official operating entity, Blockport BV, was declared bankrupt in a court in Amsterdam on May 21. The platform ceased services at the end of May, as announced in a blog post (although the website is still online as of writing). In the post, co-founder and chief product officer Sebastiaan Lichter said that following the exchange’s failed…

Long-Term Support Level May Struggle to Revive Bitcoin Price Rally

View Bitcoin is again attempting a recovery from the 30-day moving average, currently at $7,710. The key average has consistently reversed price pullbacks in the last four months. This time, BTC is more likely to end up creating a bearish lower high (shallow bounce) or may find acceptance below the average in the next day or two, as both the daily and weekly technical indicators are calling a deeper price pullback. A UTC close below the 30-day MA would open the doors to $7,000. If the ongoing recovery from the…

Crypto Exchange Bits Of Gold Wins Supreme Court Battle Over Bank Block

Cryptocurrency exchange Bits of Gold has won a notable legal victory over an Israeli bank in its bid to keep access to banking services. On Monday, the Israeli Supreme Court ordered Bank Leumi to allow the exchange ongoing access its services, according to a report by Finance Magnates. Bank Leumi had earlier moved to bar Bits of Gold after the bank classified cryptocurrency firms as gambling companies. The Supreme Court had made a temporary injunction on the matter back in February, allowing the firm to keep using Bank Leumi’s services…

SEC’s New Decision A Reprieve, Ripple (XRP) Falter

XRP slides 9.1 percent Ripple overly successful despite few banks adopting xRapid The SEC is bending for innovation’s sake. Crypto and blockchain are complex. They are a blend of different fields and all of a sudden, disrupting. Ripple may benefit, but clarification on the status of XRP will propel prices higher. Ripple Price Analysis Fundamental Blockchain and crypto, in general, is an innovation competition. It’s all about who will devise the best solution, an option that will take on existing legacy system(s). Thus far, there are thousands of projects that…

Most Blockchain Platforms Will Need Replacing in a Couple Years: Report

By CCN: Most enterprise blockchains have been mistargeted. They will need replacing in a couple of years. Gartner did a study that found up to 90% of the blockchains in use today will need to be replaced in just a couple short years. “By 2021, 90% of current enterprise blockchain platform implementations will require replacement within 18 months to remain competitive, secure and avoid obsolescence, according to Gartner, Inc.” Gartner says the blockchain market is fragmented. | Source: Twitter Impact to Business: $200 Billion The report isn’t all doom and…