Bitwise (a crypto investment manager based in USA) released a paper claiming that fake trading volumes by crypto exchanges do not impact bitcoin (BTC) price. In the white paper, Bitwise reiterated its March release, that almost 95% of reported trading volumes in bitcoin by exchanges are fake or non-economic in nature. The new white paper focuses on the launch of regulated bitcoin futures, the entry of large algorithmic market makers and bitcoin custody improvements, dramatically improve the efficiency of BTC markets.
HDR Global Trading Limited has made a donation to the MIT Digital Currency Initiative (DCI), the objective of which is to conduct the research necessary to support the development of digital currency and blockchain technology. Commenting on the sponsorship, Sam Reed, CTO of HDR Global Trading and co-founder of Biome, said that the donation into research and development is about ensuring that the network is more robust.
The central bank of Malawi announced that crypto is not legal in the country and that the institution is against crypto-related activities. The Reserve Bank of Malawi (RBM) in its statement: “Cryptocurrencies are not legal tender in Malawi and do not represent a substitute to the Malawi kwacha (MWK), the local fiat currency of the southeast African country and also said that crypto is not legal and the state does not plan to recognize crypto investments in the country.”
Officials from European Central Bank have been holding discussion on potential benefits of central bank digital currencies (CBDC). The Chairman of the Bank of Lithuania, Vitas Vasiliauskas said, “The amount of cash in circulation is declining in some countries. This could mean that one day, even if it seems like a distant prospect every single person will have to have an account with a private entity just to make payments. Unfortunately, this may lead to increased levels of financial exclusion.”
The Yahoo! Japan has announced that it will be launching its own crypto exchange by May 30. It already owns 40% of Japanese cryptocurrency exchange Taotao, a license from the Financial Services Agency (FCA) for the provision of cryptocurrency exchange services. Initially, it will open trading for bitcoin (BTC) and ethereum (ETH), as well as margin trading for litecoin (LTC), ripple (XRP) and bitcoin cash (BCH).
Online cryptocurrency paper wallet creator WalletGenerator.net previously ran on code that caused private key/public key pairs to be issued to multiple users. After researching the live code, Denley concluded that the keys were deterministically generated on the live version of the website, not randomly. Cryptocurrency paper wallet creator WalletGenerator.net ran on code that caused the same key pairs to be issued multiple times, until recently.
The brothers behind Gemini crypto exchange and the face of the Facebook have reportedly held talks with on the topic of Facebook’s Project Libra, which is preparing to launch stablecoin, dubbed GlobalCoin. It is interesting to note that the Winklevoss twins, classmates of Zuckerberg at Harvard University, sued the Facebook CEO in early 2004 for stealing their idea for building a social networking site which culminated in $50 million settlement.
One of the major banks of the Netherlands, Rabobank has announced that it will be discontinuing its plan on “Rabobit” cryptocurrency wallet. Its spokesperson said, “After careful consideration with our customers in mind we recently decided that now is not the time to develop the idea further and bring it to the next phase. “We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications, will keep an eye on the market and regulatory developments within the industry.”
One of China’s largest IT research & consulting group, CCID’s has released it latest Global Public Blockchain Technology Assessment Index, it was stated that EOS retained its title as the best cryptocurrency according to three factors assigned by CCID. Tron came in second and Ethereum was third-ranked cryptocurrency. Point to note is all the three cryptocurrencies were focusing on DApps.
CoinBits works by rounding up your credit or debit card transactions into micro Bitcoin purchases which will add up over time. Customers are now able to easily purchase small pieces of Bitcoin as part of a round-up process as you make purchases on your linked bank account using debit or credit card. To attract initially they are offering $5 in Bitcoin for free for trying giving their app a try.