Exchanges Bolster Their Bitcoin Insurance Funds After ‘Halving Dump’

After a sharp drop in Bitcoin (BTC)’s value on May 10 — just ahead of today’s halving of block rewards for miners on the network —  several exchanges scrambled to inject liquidity into their BTC insurance funds. Earlier today, Binance revealed it had used “over 13,000,000” Tether (USDT) yesterday to protect traders from the risk of auto-deleveraging (ADLs) on its platform.  “We will inject an additional 30,000,000 $USDT into the insurance fund, on top of the 7,500,000 USDT from April 30th,” the exchange pledged. The exchange’s insurance fund balance for…

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Virtual Consensus 2020 Kicks Off with ECB Official Discussing CBDC

Major cryptocurrency event, Consensus 2020, has officially kicked off in virtual mode. Consensus: Distributed, Coindesk’s first ever fully virtual conference, featured European Central Bank (ECB) key legal official, Yves Mersch, as the first speaker. On May 11, ECB board member Mersch delivered an exclusive keynote devoted to central bank digital currencies (CBDC), a central bank digital currency that can be used by consumers. Speaking at 6:45 a.m. ET, the ECB official outlined that the bank is mainly focused on a retail implementation of CBDC. The ECB voices its focus on…

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Bitcoin Pending Transactions at Weekly Low

As Bitcoin (BTC) halving is set to occur in less than eight hours, the blockchain is currently registering a slowdown in activity.  A mempool visualization website shows that the number of pending transactions currently sits at around 4,000 — about two blocks worth of transfers. While the blockchain is never fully cleared due to a continuous stream of new transactions, the demand appears to be low enough that the network is able to dispatch all incoming requests. This is not entirely unusual, as demand varies heavily between different times of…

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Join Cointelegraph’s Bitcoin Halving Party, Less Than 3 Hours to Go

Wherever you are in the world right now, as a Cointelegraph reader, you are almost certainly aware that Bitcoin’s third halving event is now less than 8 hours away. It is also highly possible that some level of lockdown, due to the ongoing threat of the coronavirus and COVID-19 pandemic, is seriously curtailing your plans to celebrate the most-anticipated crypto event of 2020. But never fear. Cointelegraph is here to get the party started, with a lockdown-friendly livestream event on our YouTube channel, featuring the biggest names in cryptocurrency today.…

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South Korea Sees Influx of Blockchain Platforms for Unlisted Stocks

The South Korean blockchain space is seeing a steady stream of platforms specialized in trading for unlisted stocks, following on from a major offering from state-backed financial IT firm Koscom last year. Business Korea cites two unnamed industry sources on May 11, who have claimed that two further platforms from Kakao-backed Dunamu and PSX will be launching this September and in February 2021. Local commentators expect the provision of secure trading venues for unlisted stocks to boost investment in local start-ups, the report notes. Solid support for blockchain initiatives As…

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Bitcoin Price Charts Hint at Sub-$8K After Halving Hype Fades

The price of Bitcoin (BTC) touched $10,000 last week but crashed more than $2,000 from Saturday to Sunday as the price hit $8,100. Is the halving hype over a la “buy the rumor, sell the news” for the top-ranked cryptocurrency?  The halving is less than twelve hours away, so what can be expected from the markets with that event happening?  Crypto market daily performance. Source: Coin360 The price of Bitcoin crashes to $7,900 after halving? Unfortunately, this seems the most likely cause. The halving is usually a classic example of…

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There’s a 77% Chance Bitcoin Trades At $10,000 This Week

Just 72 hours ago, Bitcoin was trading at $10,100, but the cryptocurrency has since sustained a strong drop. This culminated on Saturday evening and Sunday morning, when Bitcoin crashed from the $10,000 highs to $8,100 within the span of a few hours. It was a strong drop that liquidated over $200 million worth of long positions on BitMEX, as reported by NewsBTC previously. Chart of Bitcoin’s price action from May 6 to 11 from TradingView.com. Bitcoin’s stark reversal from the highs has convinced many of a bearish case. One prominent…

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Four Ways to Pimp Your Wardrobe Ahead of the Bitcoin Halving

While there is a seemingly endless stream of advice in the fashion press and on social media, covering how to dress for almost any occasion, there has thus far been one very conspicuous omission. How should the discerning Bitcoiner-about-town choose to attire themselves for a once-in-a four years halving event? Allow Cointelegraph to come to your assistance… Rekt-ified. Celebrating the halving from head to toe Let’s start by covering the extremities. No well-dressed halving head is complete without a hat. After all, even though it’s already May, let’s not rule…

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Bitcoin Slumps Ahead of Closely-Watched Halving Event

May.11 — Bitcoin slumped over the weekend after rising back above $10,000 late last week, casting a cloud over its latest attempted rebound. The decline took place ahead of a closely watched, technical event known as halving. Antoni Trenchev, co-founder at Nexobank, sees the currency reaching $50,000 by the end of the year. He speaks on “Bloomberg Markets: European Open.” source

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4 Things to Know for BTC Price This Week

Bitcoin (BTC) has delivered awe-inspiring volatility in the days before its third block reward halving — but what should traders look out for as the event hits? Cointelegraph takes a look at what factors to consider for traders and hodlers in one of the top-ranked cryptocurrency’s most important weeks so far. A record Bitcoin futures gap hits Monday is on track to open with seemingly the largest Bitcoin futures gap in history — over $1,200. Futures gaps occur when the start of one weekly trading session on futures markets is…

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