1. Why Is Bitcoin Surging? Alternative Data Shows It’s Grown-Up
Bitcoin has more than doubled this year. That simple fact has enthusiasts cheering on its resurgence, even if no one can quite pinpoint why it’s rallying.
Indexica, an alternative data provider, built a custom index based on natural language processing of thousands of textual documents to try and explain Bitcoin’s 28% run-up throughout the month of April. What they found pointed to a coming of age for the cryptocurrency.
[Source: Bloomberg] ✩✩✩✩✩
2. Bitcoin Rally Is Masking Capital Flight From Crypto Exchanges
Lost among the current bout of cryptocurrency euphoria is the fact that capital outflows are exceeding inflows on some of the biggest digital-asset exchanges.
While that may sound counter intuitive to the basic laws of supply and demand with prices of Bitcoin and other tokens surging, it’s not that rare an occurrence in a market that has been dogged by allegations of fraud and manipulation over its decade long existence. TokenAnalyst, a London-based provider of blockchain data, estimates that withdrawals from trading platforms including Bitfinex, BitMEX, Binance and Kraken have exceeded inflows by about $622 million over the past 5 days.
[Source: Bloomberg] ✩✩✩✩✩
3. Fidelity Investments Seeks Talent for Its Fidelity Digital Assets Division
American investment management company Fidelity Investments is seeking talent for its digital asset wing, Fidelity Digital Assets, according to the company’s job offer listing.
Fidelity is looking for nine professionals in fields ranging from analytics and data engineering to blockchain solutions architecture and blockchain solutions engineering.
[Source: Cointelegraph] ✩✩✩✩✩
4. Opera Announces Support for a Tron (TRX) Wallet. 300+ Million Users Will Be Able To Effortlessly Store TRX and TRC Tokens
Tron just keep growing (in marketcap and popularity.) The world famous web browser Opera announced that very soon it will introduce native support for the Tron blockchain. The browser will have a TRX wallet able to store not only this cryptocurrency but also all TRC tokens running on the Tron mainnet.
[Source: EthereumWorldNews] ✩✩✩
5. Bank Of America CTO: We Didn’t Find A Practical Blockchain Use Case In The Financial Industry
The Chief Technology Officer (CTO) of Bank of America (BoA), Catherine Bessant, explained that they were not able to find any use case for blockchain technology in the financial industry. She made these comments during an interview she had with Bloomberg on May 14.
[Source: Bitcoinexchangeguide] ✩✩✩✩✩
6. Binance RELAUNCHES WITH $1.2M GIVEAWAY FOLLOWING SYSTEM UPGRADE
Cryptocurrency exchange Binance is preparing to leave its $40 million hack behind it, confirming it had relaunched most of its service May 15.
[Source: Bitcoinist] ✩✩✩✩
7. Bitcoin Cash’s Scheduled Hard Fork Tripped Up By Software Bug
A system-wide upgrade otherwise known as a hard fork appears to have split the bitcoin cash network in two.
Bitcoin Cash is the fourth largest cryptocurrency in the world and possesses a market capitalization of over $6 billion. The chain split occurred after the bitcoin cash network tried to upgrade to new software at block number 582,679, according to data from BitMEX Research’s Forkmonitor tool.
[Source: Coindesk] ✩✩✩✩
8. Cryptopia Enters Liquidation, Shuts Trading Services
New Zealand-based digital asset exchange Cryptopia has entered into the liquidation process and suspended all trading activities.
According to the official press release published on May 15, the exchange has appointed two consultants — David Ruscoe and Russell Moore — from the consultancy and audit firm Grant Thornton New Zealand, the local wing of Grant Thornton International.
[Source: FinanceMagnates] ✩✩✩
9. Huobi Global Launches OTC Desk for Institutional Investors
Major global crypto exchange Huobi has launched a regulated over-the-counter (OTC) trading desk for institutional investors, according to a blog post on May 15.
The new OTC crypto trading platform, Huobi OTC Desk, is fully regulated by the Gibraltar Financial Services Commission (FSC), and enables major fiat-to-crypto and crypto-to-crypto trading pairs.
[Source: Cointelegraph] ✩✩✩
10. World’s Fifth-Largest Electrical Company Is Using an Ethereum Dapp
One of the world’s largest electrical companies is teaming up with ethereum app iExec on a new test.
EDF, the fifth largest electrical utility company with a $33 billion market cap, has launched its visual simulator software GPUSPH on iExec, a decentralized application that operates on ethereum mainnet. With this, EDF can test how the program operates on a blockchain rather than a more normal computing environment.
[Source: Coindesk] ✩✩✩
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