Bitcoin price could more than double this year to breach its record, and increase as high as $28,000, according to Bloomberg.
Its June Crypto Outlook report cites a slew of factors such as quantitative easing, the coronavirus pandemic, the falling stock market and crude oil as the reason for the meteoric rise.
The report says "something has to really go wrong for bitcoin not to appreciate in val
Social media giant Facebook has renamed its Calibra cryptocurrency wallet as Novi cryptocurrency wallet in a bid to avoid confusion with the yet to be released Libra cryptocurrency. Novi is a new digital wallet for Facebook's Libra payment network. The digital wallet will help people send, receive and hold Libra digital currencies.
Cyber Crimes have siphoned off a total of about $1.36 billion in the first five months of 2020 from the crypto sector, according to the "Spring 2020 Cryptocurrency Crime and Anti-Money Laundering Report" from blockchain security firm CipherTrace. These include crypto thefts, hacks, and frauds. Nearly $1.3 billion or 98 percent of the amount is attributed to blockchain fraud and misappropriation.
Blockchain services company BitClave Pte. Ltd. settled with the U.S. Securities and Exchange Commission (SEC) on charges of conducting an unregistered initial coin offering (ICO) of its Consumer Activity Tokens (CAT). The SEC is entering an administrative cease-and-desist order under which BitClave neither admits nor denies the SEC's findings.
US-based cryptocurrency exchange Coinbase agreed to acquire New York-based institutional-grade crypto prime brokerage Tagomi as part of its strong institutional focus to cater to the ever increasing number of institutional investors venturing into cryptocurrencies such as Bitcoin.