News Mar 29, 2019

Crypto industry news

Panic among CoinBene users

CoinBene users are concerned that Ethereum wallets may be broken. Official site of the exchange reported technical issues and there is no possibility to withdraw assets, though trading continues. Users published two Ethereum-addresses, connected to CoinBene. During last  24 hours the first one showed active withdrawal in Maximine Coin and CoinBene Coin. Both tokens raised in price for the last month – up to 700% and 400%.

 

Western Union and Stellar partnership

Few days ago Western Union released information on working with Stellar and ability to transfer money directly to mobile wallets around the world. The intention of such partnership is to improve financial cooperation around the world and ease financial access.The president of Western Union Global Money Transfer explained that the company would be ready to support cryptocurrencies if they become means of payment and exchange between individuals and businesses around the world. Western Union’s competitor, MoneyGram, also entered the blockchain and crypto space. MoneyGram has partnered with Ripple in order to process faster and enhanced payments between parties around the world.

 

Binance CEO Says ‘Everyone Will Be in Crypto’

Changpeng Zhao, the CEO of cryptocurrency exchange Binance, disagreed with JP Morgan executive Ron Karpovich that banks would always be needed for moving funds. One of the biggest expenses for businesses is employee salaries, and banks have traditionally been used for making these salary payments. But in the crypto space, there are an increasing number of companies that pay salaries in crypto. Though widespread adoption of crypto has not happened yet—partly due to price volatility, partly due to the need for improvements to the underlying technologies, and partly due to regulatory obstacles— it does look like cryptocurrency adoption is growing day by day. “I would welcome everyone to join crypto, which is inevitable anyway.  Better get used to it rather than fight it” – said Changpeng Zhao.

 

Bitcoin Hash Rate Hits 4-Month High

Bitcoin’s hash rate has reached the highest levels seen since November 2018. The increase in mining power suggests profits available at the current spot price as well as potentially expectations for a future price increase. Concerns were raised over low hash rates in alignment with price plummets in 2018 as less efficient mining rigs were disabled to avoid operating at a loss. Mining difficulty is expected to increase again shortly, however, given this hash rate peak with more miners expected to join the network.

 

BitMEX CEO Arthur Hayes predicts situation for 2019

It seems that crypto bears are losing ground and the strong 2018 bearish trend is giving way to a period of relative stability prior to an upcoming bull run – said Arthur Hayes, CEO of BitMEX. Arthur Hayes is known for his controversial opinions, which on many occasions have gone against the trends. However, time has proven him right, showing that as an investor, he knows when to be long or short without letting his feelings affect his judgment. After predicting a drop in the BTC, Mr. Hayes seems to have joined those who consider that Crypto Winter is over.

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