Millions Upon Millions of BitMEX Shorts Liquidated as Bitcoin Surges to $9,600

Just a day after Goldman Sachs came out with a scathing presentation on Bitcoin, the asset is rallying. Investors are clearly shaking off the “FUD” the multinational bank through the cryptocurrency market’s way. Just minutes ago as of the time of this article’s writing, BTC shot higher to cross $9,600. It reached a local high of $9,625. This is the highest price Bitcoin has traded at in the past seven days. Though, prices remain a few percentage points shy of the May highs of $10,000. Bitcoin price chart from TradingView.com…

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MIT Group Funding Shows Growing Crypto Trading Interest

Floating Point Group, or FPG, a startup delivering institutional crypto traders automation technologies, garnered $2 million of capital from several entities. “It’s becoming clear that sophisticated quantitative traders and platform developers are viewing the cryptocurrency markets as an exciting new opportunity,” FPG CEO John Peurifoy explained in a May 28 statement.  The funding goes toward expansion  Algorand CEO Steve Kokinos, Seabury Global Markets, AngelList founder Naval Ravikant, and multiple others invested the money into FPG, receiving company stake in return, the statement said.  An outfit operating under U.S. governing bodies, FPG…

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Analyst Who Helped Topple Crypto Child Exploitation Site Honored

Criminal analyst, Kim Reece, has been nominated as a finalist for the Samuel J. Heyman Service to America Medal for her efforts in shutting down a major child porn site. News of the nomination came on May 28. According to the announcement, Reece’s work led to an international criminal investigation of the largest dark web child pornography site in the world. This site used cryptocurrencies to cloak payments for more than one million video downloads. This resulted in the arrest of the site’s leader, and more than 330 users. It…

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Bitcoin Will Replace Gold, Crypto Data Analytics Company CEO Says

As the world turns more digital, crypto’s pioneer asset Bitcoin (BTC) could take on gold’s store of value role, according to the CEO and co-founder of Digital Assets Data, an analytics firm.    “I see Bitcoin replacing gold as the hardest money for savers with long time horizons,” CEO Mike Alfred told Cointelegraph. “Young people are far more interested in Bitcoin in a world where the economy becomes increasingly online and virtual,” he added. Bitcoin has gained significant status since inception Since its launch over a decade ago, Bitcoin has…

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Chinese Citizens Are Now Able to Inherit Cryptocurrency

The Thirteenth National People’s Congress and Chinese People’s Political Consultative Conference has come to an end on May 28. According to Xinhua news, the same day the parliament passed a new civil code; a legislation package that includes protecting the civil rights of inheritance, marriage, property, personality, contract and infringement.  The new code states: “When a natural person dies, the legacy is the personal legal property left by she/he.” Lixin Yang, a professor of Renmin University of China told China Central Television that this means “internet property and virtual currency…

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Bitcoin Volatility Expected as $328M in BTC Derivatives Expire Friday

CME Bitcoin (BTC) futures and options markets are set to mature this Friday and traders are closely watching to see how spot prices will react to this event. The contracts expire every two months and according to market analysts, they negatively influence BTC’s price in spot markets. In fact, recent data from Cointelegraph and Arcane Research found that there is a 2.3% drop ahead of CME expiry. Although some investors claim manipulation could have been behind the price drops preceding CME contracts expiration, the futures average daily volume has been…

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Twitter Evidence May Prove Hal Finney Is Not Satoshi

A tweet from 2010 may provide evidence that Hal Finney is not Satoshi Nakamoto. In a recent Cointelegrpah interview, Laszlo Hanyecz, who worked closely with Satoshi Nakamoto in 2010, said that Satoshi had no familiarity with the Mac ecosystem: “He didn’t have a Macintosh. He didn’t know how to build it for Mac.” Consequently, Satoshi asked him to develop a MacOS version of the Bitcoin client, which he eventually did. Both Finney & his wife owned a Mac in 2010 However, a 2010 tweet from Hal Finney tells us that…

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Tether Explains Why It Hasn’t Burned Any USDT

Tether (USDT) cites the popularity of its Ethereum (ETH)-based asset as the reason why the company has never burned a single token. The recent report from Flipside Crypto concluded that Tether is not in the practice of burning its Ethereum tokens: “We can also see that no tokens ever go to the “burn” category, which means that throughout the course of April no USDT supply was destroyed. Looking at the full history of USDT on Ethereum, we found that no tokens have ever been burned.” Ethereum is too popular Paolo…

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Will Trump’s Social Media Executive Order Help Against Crypto YouTube Bans?

Those in the know expect President Trump to sign a fresh executive order today, imposing greater accountability on social media providers. The order draft, labeled at press time as “Preventing Online Censorship,” brings further clarity to social media industry boundaries, ABC News said on May 28.  “This will be a Big Day for Social Media and FAIRNESS!” Trump tweeted on the morning of May 28.  The order follows Twitter fact checking efforts   Social media powerhouse Twitter recently flagged certain tweets with a fact-check tag. The platform flagged some of Trump’s posts…

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Torus Launches Key Management System to Streamline DeFi

Crypto key management platform, Torus, has launched its non-custodial key management solution DirectAuth — enabling streamlined log-in experiences for web3 applications. DirectAuth builds on top of the Torus Wallet, which facilitates one-click logins for decentralized applications, or dapps. The addition of DirectAuth allows persistent logged-in action, streamlining transactions and signing from within a single app. DirectAuth utilizes multi-party computation, or MPC, for distributed key generation. Users can also send ERC-20 and ERC-721 tokens to Google emails, Reddit usernames, or Discord IDs through Torus. Torus wants to streamline Web3 experiences Speaking…

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