Point Roberts, WA and Delta, BC - July 11, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
Listen to today's Crypto Corner Podcast:
Subscribe to Podcast RSS feed:
Bitcoin (BTC) plummeted almost $2,000 - roughly 10 percent - in the last 24 hours after peaking at about $13,100 yesterday morning, according to data from CoinMarketCap. At press time, Bitcoin is trading for around $11,700 having sunk as low as $11,370 late last night. An article from Reuters connects this downward movement with comments made by the U.S. Federal Reserve regarding Facebook's (NasdaqGS:FB) Libra. During his semi-annual testimony on monetary policy before the U.S. House of Representatives Financial Services Committee, Fed Chairman Jerome Powell said:
"Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability."
"I don't think the project can go forward without addressing those concerns."
The article further indicates that the price of Bitcoin fell some seven percent during Powell's testimony. This correlation is echoed by CNBC journalist Ryan Browne, who tweeted a chart showing that Bitcoin drop and Powell's testimony occurred around the same time.
This chart shows bitcoin falling off a cliff at about 3:30pm BST, around the time Powell talks about Libra & crypto. Not saying there's a concrete link. Just stating what happened.
In a blog post yesterday, crypto exchange giant Binance announced the launch of the 2.0 version of its platform which features margin trading. Margin trading allows users to leverage their balance as collateral to open both long and short positions on crypto assets. Yi He, co-founder of Binance, explained:
"Though the current cryptocurrency market and legacy platforms for margin trading poses greater risks and benefits at the same time, we are confident that its development coupled with more knowledge on proper risk management will help realize greater benefits in the long run. With margin trading being one of the most requested services from our community, this is a testament to the large market demand from retail and institutional traders alike and its promising possibilities in the future."
Canada's federal government has amended its regulations aimed at preventing money laundering and terrorist financing, a move that imposes changes on how cryptocurrency is traded in the country. One such change is the requirement that exchanges must now record and report any cryptocurrency transactions over $10,000.
A financial entity shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that it receives from a person or entity in a single transaction, unless the amount is received from another financial entity or a public body or from a person who is acting on behalf of a client that is a financial entity or public body.
Bloomberg reports that Spanish authorities have identified Bitcoin ATMs as a potential blind spot in the EU's anti-money laundering laws. A drug bust saw the gang involved reportedly utilizing crypto ATMs to transfer funds, Spain's Civil Guard police force claimed.
According to the Civil Guard officials, who spoke on condition of anonymity, the group hired two ATMs from unsuspecting trading platforms and installed them in an office in Madrid that masqueraded as a center for sending remittances and trading cryptocurrencies. The gang would then transfer money from bank accounts to the trading platforms in order to top up the machines with Bitcoin or other digital currencies.
Sam Mowers, Investorideas
Read other editions of the Crypto Corner
Get the Crypto Corner News by email Get Crypto Corner News
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment PlatformTM, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange.You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
More info on the sector:
Investor Ideas is positioning as a leader in blockchain and crypto content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto, technology including AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI.
The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: this newsletter and podcast is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and GBT Technologies. More info: http://www.investorideas.com/About/News/Clientspecifics.asp
Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Learn more about our news, PR and social media services at Investorideas.com
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Although some Bitcoin critics will spite anyone who believes that the cryptocurrency will be worth more than 1000× its current… Read More
Bitcoin is placed right at the top of the market, with the BTC dominance rate currently at 68.7%. The trading… Read More
According to Messari research, Lionel Messi's take-home pay would be "12,700 $BTC" annually. Cristiano Ronaldo's would be 10,000 bitcoins. |… Read More
Representative Maxine Waters, chair of the United States House of Representatives’ Financial Services Committee, says the committee will continue to… Read More
Jeremy Allaire, the CEO of blockchain-based, crypto-inclusive money transfer company Circle, said that the firm has long held that major… Read More
Devcon5, the Ethereum Foundation’s fifth annual conference which takes place October 8-11 in Osaka, Japan, is using the Ethereum platform… Read More