Zhang Jian, the former Huobi CTO who launched FCoin in May 2018, wrote a lengthy post on Monday, saying the exchange is now unable to process users’ withdrawal demands as its asset reserve has fallen short of its liability – and the gap is estimated to be about 7,000 to 13,000 bitcoin (BTC). Continue reading Crypto Exchange FCoin Insolvent After Revealing Up to $130M Bitcoin Shortfall
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Bitcoin Price Spikes to 3-Month High as Bull Cross Approaches
Bitcoin printed a three-month high on major exchanges early Monday with key indicator eyeing its first bullish turn in 11 months. Prices rose to $9,615 on Luxembourg-based Bitstamp exchange during the Asian trading hours. That was the highest level since Oct. 28. The top cryptocurrency also hit a three-month high of $9,628 and $9,615 on Bitfinex and Coinbase, respectively. Continue reading Bitcoin Price Spikes to 3-Month High as Bull Cross Approaches
BlockFi Adjusts Interest Rates to Lure Larger Crypto Deposits
BlockFi’s new yields for those lending up to 10 BTC (its “Tier 1” customers) will be 5.1 percent. Right now, customers loaning up to 5 BTC see a yield of 6.2 percent. Likewise, their Tier 1 ETH lenders will also see a rate cut to 3.6 percent on loans of up to 500 ETH from 4.2 percent for lending 1,000 ETH. Continue reading BlockFi Adjusts Interest Rates to Lure Larger Crypto Deposits