Major Coins Stem Further Losses, With Bitcoin Brushing $7,700

Although crypto markets are still down over the past month, most of the top ten coins are in the green today, June 7. Market visualization from Coin360 Bitcoin (BTC) is comfortably holding above the $7,600 threshold and inching to a new price point of $7,700, trading at around $7,690 at press time. The leading cryptocurrency, up almost 2.3 percent over a 24-hour period, saw an intra-weekly low just above $7,400, but has since stemmed its losses. Yesterday’s official clarification from the chair of the U.S. Securities and Exchange Commission (SEC)…

Mastercard Wins Patent for Blockchain Travel Itinerary Bidding System

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Financial services giant Mastercard has won a patent for a blockchain system that allows travelers to submit desired itineraries and merchants to submit bids for each service request. The patent, awarded to Mastercard by the US Patent and Trademark Office (USPTO) on June 7, aims to streamline the global travel industry by connecting travelers to a wider range of hotels, airlines, and other service providers than most currently do prior to booking their itineraries — even when…

Mining Giant Bitmain’s CEO Wu ‘Open’ to Hong Kong IPO, Report Says

The CEO of crypto mining hardware giant Bitmain, Jihan Wu, has confirmed he is “open” to conducting an overseas initial public offering (IPO), Bloomberg reports today, June 7. Speaking in an interview in Hong Kong, Wu, who claims to own up to 28 percent of China-headquartered Bitmain, said an IPO in the region –  or any market which U.S. dollar-denominated shares – would be suitable  as a means of allowing early backers to cash in funds. The potential move would mimic Canaan, one of the company’s main competitors, which announced…

Russian President Vladimir Putin Publicly Addresses Crypto, Says Practically Nothing

Russian President Vladimir Putin issued ambiguous, but mostly negative, commentary on the question of Russian issuing its own cryptocurrency during his annual live question and answer session with the Russian public today, June 7. On today’s live session with the president, known as the “Direct Line”, Russian blogger Artem Khokholikov asked the president three questions about cryptocurrency: “Will Russia have its own cryptocurrency? […] Will it be controlled by the government? […] Do you think that in the near future cryptocurrency will completely replace our regular, standard money?” Putin answered…

Central Banks Closely Monitoring Crypto and Blockchain

The world of cryptocurrencies and banking crossed paths once again at the Money20/20 conference in Europe on June 4-6. Fintech companies and financial service providers came together at the conference to talk money and technology − in particular, how the two can come together in a more efficient way. Since cryptocurrencies have entered the mainstream, largely due to a breakout year in 2017, both the fintech and financial sectors can no longer ignore the possibilities created by blockchain technology and digital currencies. A particular highlight of the Money20/20 Europe showpiece…

US Crypto Exchanges Not ‘Enthusiastic’ Enough About Regulatory Compliance

The U.S. Securities and Exchange Commission (SEC) said it was “underwhelmed” by regulatory adherence among cryptocurrency exchanges in fresh comments June 6. Speaking to CNBC, Brett Redfearn, the SEC’s Director of Division of Trading and Markets, suggested exchanges that offer trading in tokens issued in Initial Coin Offering (ICO) – which may constitute securities under U.S. law – were reluctant to comply. “We’re underwhelmed by the enthusiasm for coming within the regulatory structure right now,” he commented at the Sandler O’Neill Global Exchange and Brokerage Conference in New York, adding:…

Software Multinational SAP Announces Launch of Cloud Blockchain Platform

Multinational software company SAP has launched a blockchain-as-a-service platform, SAP Leonardo Blockchain, the company reported Wednesday, June 6. The platform is designed to let corporate customers build applications and networks using blockchain technology. SAP’s official announcement notes that the new blockchain service will support Hyperledger Fabric and MultiChain, and will be built on top of SAP’s SAP HANA data management system. Gil Perez, SAP’s senior vice president for product and innovation as well as head of digital customer service initiatives, explained that SAP will not commit to any one underlying…

Bullish Signals Hint at Bitcoin Price Breakout

Still stuck in a narrowing price range, BTC could soon rise to resistance above $8,000 if the bulls are able to leap the 50-week moving average hurdle. As of writing, the cryptocurrency is trading at $7,770 on Bitfinex, having been stuck in a narrowing price range (pennant) for months now. Defense of $7,000 last week and the 9.3 percent rise from the last week’s low of $7,040 have neutralized the immediate bearish outlook and got investors talking about a possible rally to pennant resistance at $8,870. While that target may appear far-fetched,…