Novogratz’ Galaxy Digital Continues Losing Streak in 2019, Posts $33M Q4 Loss

Galaxy Digital, a major cryptocurrency investment bank founded by ex-Goldman Sachs partner, Mike Novogratz, continued its 2018 trend by posting another net loss in Q4 of 2019.According to an official April 8 announcement, the company suffered a net loss of more than $32.9 million in Q4, with the company outlining “realized loss on digital assets” and operating expenses as causes for the loss.Galaxy Digital has posted repetitive losses since its founding in 2018Galaxy Digital was officially founded in early 2018 with the mission to institutionalize the crypto industry. Since then,

Exchange CEO Explains Bitcoin Exploring Uncorrelated Price Action

Bitcoin’s price initially dumped alongside the mainstream markets, but now looks to be exploring its own route. “When the stock markets crashed, Bitcoin crashed,” AAX crypto exchange CEO Thor Chan told Cointelegraph. “It appeared that they were correlated,” he posited, adding:“However, the previous plunge of Bitcoin together with traditional financial markets is due to a liquidity problem. People dump whatever they can in any market. This is very extreme and rare because even the ‘safe haven’ assets dropped. Soon after, the liquidity became ‘normal’ again, we’ve seen Bitcoin’s price is discovering

If Bitcoin Hits $8K, What Will Happen Next?

Bitcoin has been holding above $7K, but where will its next move take it? Many investors are eyeing $8K as a key level for continuing Bitcoin’s upward momentum and possibly pushing it into a bull market. However, a couple traders believe Bitcoin could easily make a reversal in the near future and plummet back down to $3K. BBC featured trader Charlie Burton and co-founder of Genesis Block HK Clement Ip weighed in on Bitcoin’s short term and long term future in Cointelegraph’s latest crypto market discussion video.Will Bitcoin Make it

Algorithmic Trading Strategies, Explained

Momentum trading is based around the logic that if a predominant trend is already visible in the market, then that trend is plausibly going to continue at least until signals begin to come in that it has ended. The idea with momentum trading is that if a certain asset has been moving primarily in one direction for, say, several months, then we can safely assume this trend will continue, at least until data starts to show otherwise. Therefore, the plan will be to buy on every dip and lock in

Crypto Attorney Kyle Roche Discusses Class Action Lawsuit

Kyle Roche, a partner at law firm Roche Cyrulnik Freedman recently opened up about 11 class-action lawsuits against top crypto companies. The firm, alongside Selendy & Gay, has filed lawsuits against crypto exchanges as well as ICO tokens. Defendants include Tron, Status, Bancor, and Block.One alongside their executives.Bringing lawsuits against crypto head honchosThe 11 class action lawsuits follow the SEC’s guidance that ICOs are unregistered securities offerings in the US and all ICO issuers and exchanges must be registered with the SEC. The defendants in the case include Changpeng Zhao,

Ethereum Price Analysis: ETH Makes Sharp Rise, Faces $175 Resistance

Key Highlights Ethereum has risen to $175 but faces resistance Ether will rally above $200 if the resistance line is breached Ethereum (ETH) Current Statistics The current price: $169.62 Market Capitalization: $18,623,402,337 Trading Volume: $14,698,755,099 Major Resistance Zones: $175, $200, $225 Major Support Zones: $125, $100, $75 ETH Price Analysis April 09, 2020 Ethereum has moved up to a high of $175 after a rebound at the low above $140. Ether was earlier in a tight consolidation between $120 and $140. It faces rejection at $145 any time it rises

Former Bakkt CEO to Sell All Holdings After Insider Trading Accusations

Following major accusations of insider stock trading during the coronavirus-induced market crash, Senator Kelly Loeffler (R-GA), the former CEO of Bakkt, is liquidating her holdings with her husband.In an April 8 tweet, Loeffler said that she and her husband Jeffrey Sprecher, CEO of ICE, which is the company that owns Bitcoin (BTC) options contracts regulator Bakkt, are liquidating their holdings in managed accounts to focus on tackling the coronavirus situation.“I’m doing it because the issue isn’t worth the distraction”The former CEO of Bakkt has also published an opinion piece in

Blockchain Intelligence Firm Chainalysis Seeks New Partners to Extend Its Reach

New York-based blockchain analytics firm Chainalysis is launching a major partnership program to expand its operations and broaden its intelligence capabilities.As one of the highest-profile analytics firms in the blockchain intelligence industry, Chainalysis develops investigative tools that enable firms, governments and law enforcement agencies to monitor blockchain transactions and track suspected illicit activities.Speaking to Cointelegraph on April 9, Chainalysis chief revenue officer Jason Bonds explained that the program would be dedicated to collaborations with several categories of partners.The first, key crypto infrastructure providers, will help Chainalysis and the wider industry

Forbes Billionaires List of 2020 Shows Four Crypto Proponents

Forbes has recently published its list of 2,095 billionaires.  Within this list, only four of these entries were in regards to entrepreneurs who made their fortune through crypto. As it stands now, the richest man in the crypto industry is Micree Zhan, the co-founder of Bitmain. Zhan appears at Number 690, clocking in at a net worth of $3.3 billion.The 1% Goes GlobalWhile it may not be to everyone’s taste, some good news has come amid these trying times of the COVID-19 pandemic. It’s already established that amid trying times,

South Korea’s ICON Reveals new Consensus Algorithm

ICON, the largest public blockchain network of South Korea, has recently announced its new consensus algorithm. On the 8th of April 2020, ICON revealed the Loop Fault Tolerance 2.0, or LFT 2.0, consensus algorithm.A New Innovation For Korea’s Blockchain SpaceIt’s claimed that this new algorithm is capable of improving the network bandwidth and overall scalability of the ever-popular Practical Byzantine Fault Tolerance consensus types, or PBFT. According to ICON, this algorithm can achieve this without compromising the security through doing so.The white paper for LFT 2.0 was published today, having