Crypto Market Aims $250 Billion Cap: Bitcoin Cash, Litecoin, EOS, XLM Analysis

The total crypto market cap is climbing higher steadily and recently tested the $237.0B level. Bitcoin price is placed nicely above the $8,000 level and it remains supported near $7,800. Litecoin (LTC) price is moving higher towards the $95.00 and $100.00 resistance levels. Bitcoin cash price is currently correcting lower, but it remains supported near $385 and $380. EOS price is now well above the $6.00 level and it seems like the bulls could clear $6.20. Stellar (XLM) price is up more than 10% and it recently cleared the $0.1150…

Bitfinex’s Private Token Sale Raised $1 Billion in 10 Days, Exec Says

Cryptocurrency exchange Bitfinex has raised $1 billion through its native token in a private sale, according to its chief technology officer. Paolo Ardoino‏ tweeted Monday that Bitfinex has achieved the target in just 10 days, with participation from “giant” firms from both within the cryptocurrency industry and outside. The funds were collected in the form of USDT, the stablecoin operated by the closely-linked firm Tether, according to the tweet. Some of the investors, which were not named, invested over $100 million worth of tokens each, Ardoino‏ said, adding that others…

Bitfinex Releases Official White Paper for $1 Billion Exchange Token Offering

Cryptocurrency exchange Bitfinex has released the official white paper for its $1 billion exchange token sale, revealing it will also launch a dedicated platform for projects to raise funds via similar initial exchange offerings (IEOs) starting from next month. Bitfinex published the white paper Wednesday, confirming recent reports that it’s aiming to raise up to $1 billion worth in the tether (USDT) stablecoin by selling its own exchange token, dubbed LEO, in a private sale. However, the white paper indicated the private sale will end on May 11, not the…

Bitfinex ‘Official Doc’ Confirms Plans to Raise up to $1 Billion in IEO for Its Token LEO

Zhao Dong, a shareholder of cryptocurrency exchange Bitfinex, has released new promotional material detailing the exchange’s upcoming initial exchange offering (IEO) for up to $1 billion. The information was shared in a tweet from Dong on May 4. The document, allegedly released by iFinex — the company behind Bitfinex and Tether (USDT) — announces the availability of up to 1 billion USDT worth of the exchange’s tokens, dubbed LEO, for purchase. The token described in the marketing document — which specifies that it is not a white paper — is…

‘Not a White Paper’: Marketing Document Details $1 Billion Bitfinex Token Sale

New details are emerging about a planned $1 billion token sale to be held by iFinex, the parent company of Bitfinex and Tether, two cryptocurrency companies currently being sued by the state of New York for allegedly covering up a $850 million loss in customer funds. Released today on Twitter by known company shareholder and over-the-counter trader Zhao Dong, a 3-page “marketing document” details the specifics of how the sale might ultimately take place, while noting throughout that it is not intended to be legally binding. For example, the document…

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…

4 Billion Crypto Adopters Will Outnumber Internet Users, Predicts Binance CEO

By CCN.com: Binance CEO Changpeng Zhao boldly claims that cryptocurrency will reach more users than the internet in a matter of years. His wildly bullish prediction suggests that over 4 billion people on the planet will use crypto in the near future. In a few years, there will be more users in #crypto than there are users for internet today. — CZ Binance (@cz_binance) April 30, 2019 Crypto: bigger than the internet Current estimates suggest that 58 percent of the global population have access to the internet. That’s a total…

Rakuten Taps Chinese Blockchain Firm for $60 Billion Authenticity Market

By CCN: In 2008, at least 54,000 Chinese babies suffered after ingesting formula that had been contaminated. Demand for safe products has grown year over year, every year, since then. Companies like blockchain-centric Techrock have capitalized on this market by finding unique solutions to the authenticity problem. Techrock uses the blockchain to track every step of a product’s lifecycle and rewards consumers for verifying it through their mobile phones. Chinese Consumers Increasingly Willing to Pay a Premium for Authentic Imported Food In China, it is reportedly difficult to get authentic…

Crypto Market Loses $15 Billion in a Day as Bitcoin Slips

Global crypto assets trended in a red zone this Thursday, with the CoinMarketCap chart noting an 8.11 percent drop as bitcoin slipped. Bitcoin Leads the Corrective Sentiment Bitcoin, the most dominant asset across the global cryptocurrency index, plunged 4.24 percent in what appeared like a technical correction. The cryptocurrency on April 2 had undergone a surprising bullish makeover, jumping more than 23 percent in just two hours. The upside move pushed its trading sentiment into the overbought zone, which typically makes a profitable exit position for day traders. (Read our…

Is Litecoin (LTC) Up Because of FOMO? Adds $2.7 Billion in 18 Hours

Litecoin gains impressive, up 47 percent Losses from CoinBase’s hot wallet insured by a $255 million cover As one of the most secure exchange, CoinBase is not taking chances. Their chief information security officer now reveals that the exchange’s hot wallet insurance policy covers $255 million just in case of losses. That has been the state since late 2013. In the meantime, Litecoin (LTC) is up 47 percent, and buyers are aiming at $90. Litecoin Price Analysis Fundamentals CoinBase, the US exchange valued at over $8 billion is unique because…