Bitcoin Drifts Down as Price Breaks Below Key $7.8K Support

Bitcoin is up 4.3% in the last 24 hours, rising to a five-month high. The top cryptocurrency benefited from $417 million in spot ETF inflows on Monday. Most crypto-related stocks have had big run-ups in recent weeks, perhaps leading to just tepid gains today. 01:01 Bitcoin Breaks $64K While Gold Soars 00:56 ETH/BTC Ratio Slid

feature The Takeaway High-frequency trading (HFT), a longtime and controversial practice in traditional markets, is becoming commonplace in crypto, too. Placing trading servers physically close to exchanges’ matching engines can win an edge on speed. This helps HFT firms make large profits in the legacy markets. Crypto exchanges such as ErisX, Huobi and Gemini are…

feature Stasis, a Malta-based issuer of stablecoins, has hired accounting firm BDO Malta to conduct quarterly and annual audits of its financials, including the euro reserves backing the startup’s EURS token. The engagement aims to dispel any doubts that EURS stablecoins are backed one-to-one by euros. Many cryptocurrency investors and traders will be wary of any…

Scott Minerd said he didn't believe bitcoin's investor base was "big enough" or "deep enough" to keep price at current levels.Scott Minerd is the CIO of Guggenheim Partners.(Kevin Mazur/Getty Images)Jan 28, 2021 at 9:25 a.m. UTCGuggenheim CIO Says Institutional Demand Not There to Sustain Bitcoin Above $30KScott Minerd, chief investment officer of the multi-billion dollar…

The Financial Action Task Force (FATF) will soon publish its revised guidance for cryptocurrency firms, President Marcus Pleyer said Thursday.“This guidance that we finalized for a risk-based approach to virtual assets and investments will be published next week,” Pleyer told CoinDesk during a press conference following FATF’s latest meeting.Several years in the making, the global…

news Mark Zuckerberg will tell Congress that Libra can bring financial services to the world’s 1.7 billion unbanked. And if Libra doesn’t do it, he said, China’s new central-bank crypto will. Facebook’s CEO released his written testimony a day before his scheduled appearance before the U.S. House of Representatives Financial Services Committee, stating that Libra is envisioned…

The acquirer will tell the FDIC “what assets and liabilities from the failed bank it is willing to take,” the spokesperson said, citing the agency’s resolution handbook. The spokesperson also referred CoinDesk to two joint statements published by the FDIC, Office of the Comptroller of the Currency and the Federal Reserve, one of which states…

Nov 23, 2020 at 3:29 p.m. UTCUpdated Nov 23, 2020 at 3:30 p.m. UTC(Pixabay, modified by CoinDesk)First Mover: Near Record Highs, Bitcoin May Have a Volatile WeekBitcoin is trading above $18,500, having charted a minor pullback to $17,800 over the weekend. The cryptocurrency’s one-month implied volatility metric has jumped to four-month highs, suggesting increased expectations…

Blockchain technology will be used to verify the real-name identities of China's 1.4 billion people, according to an announcement from the Blockchain-based Service Network (BSN), China's national-level blockchain initiative – a move likely to spark concern among data-privacy advocates.China's Ministry of Public Security spearheaded the initiative, called RealDID, with help from BSN.The RealDID service launch