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Bitcoin and Gold Short-Lived Correlation Not a Sign of Comparability

Gold–BTC correlation drops 20% one week after hitting all-time high of 68%, correlation metrics are often misleading for investors. The Bitcoin (BTC) and gold one-month correlation reached a record high of 68% as Bitcoin hit $12,000 early in August, but the correlation crashed by 20% the following week. Despite this, Bitcoin looks set to become digital gold in 2020 considering the price correlations and trends in the futures market.Both gold and Bitcoin are having a phenomenal year in terms of year-to-date returns. According to Skew Analytics, gold has a 27.93% YTD return, while Bitcoin has racked up a 71.68% YTD…

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OKCoin’s Fourth Developer Grant Recipient Brings Total Grants to Over $500K

OKCoin developer grants total over $500,000 with the latest grant going to Bitcoin’s most active contributor since 2017. Crypto exchange OKCoin has continued to support Bitcoin (BTC) Core developers with a fourth grant being awarded to Bitcoin’s most active contributor since 2017, Marco Falke for an undisclosed six-figure sum. This grant brings the total amount provided as part of the company’s Independent Developer Grant to over $500,000.OKCoin believes that funding open-source development of the Bitcoin network is critical to the growth of the entire crypto ecosystem. CEO Hong Fang said, “Supporting Marco’s work on strengthening the testing framework in addition to his…

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OKCoin Awards Latest Developer Grant To Marco Falke

Cryptocurrency exchange OKCoin announced today that the latest contribution from its Open-Source Developer Grant is going to Marco Falke, who has served as a Bitcoin Core maintainer since 2016 and is one of the most active contributors to Bitcoin’s code. “Marco’s work … focuses on making development more efficient,” Elaine Song, a member of OKCoin’s business operations team who is involved with the grant program, told Bitcoin Magazine. “He is the most active contributor to the Bitcoin code since 2017. He is presently dedicated to the improvement of Bitcoin’s test infrastructure, which ensures the reliability and security of the decentralized…

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OKCoin Says Institutional Investors Benefit Most From OCC Crypto Clarity

OKCoin says recent U.S. regulatory clarity on digital asset custody is significant for big money players. Recent digital asset custody clarity from the U.S. Office of the Comptroller of the Currency, or OCC, will likely affect institutional investors more, according to OKCoin CEO Hong Fang."The biggest impact will potentially be on institutional investors," Fang told Cointelegraph.She added:"Retail investors have a much wider range of existing choices (and preferences). I look forward to seeing more banks becoming more open to crypto, with potentially better banking channels, more public awareness, as well as more regulatory clarity. A better user experience ultimately wins."The…

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US Banks Get Crypto Custody Nod, but Instant Demand Surge Is Unlikely

Announcement by U.S. OCC to fuel business opportunities for crypto exchanges, custodians and traditionals banks. The Office of the Comptroller of the Currency, a division of the United States Treasury that supervises banking in the country, on July 22, issued an interpretive letter clarifying that nationally chartered banks are allowed to provide cryptocurrency custody services to their customers extended to storing cryptographic keys associated with the currencies. In its letter, the OCC recognizes the current need for banks and other financial service providers to leverage blockchain technology and provide related services to their customers. In addition to national banks, this permission…

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OKCoin, BitMEX Operator Grant $150,000 to Core Developer Amiti Uttarwar

As the saying goes: when it rains, it pours. And lately, the Bitcoin Core development community appears to be experiencing a welcomed shower. Today, cryptocurrency exchange OKCoin and HDR Global Trading Limited, which operates the cryptocurrency exchange BitMEX, announced a $150,000 grant for Core developer Amiti Uttarwar. The donation follows similar gifts from both donors, as well as others, that have been announced in recent weeks. Uttarwar focuses on Bitcoin’s peer-to-peer layer, notably reducing the frequency that wallets attempt to rebroadcast transactions and, therefore, the frequency with which transaction information is revealed through her work on PR #18038. “Most recently,…

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OKCoin Grants $100,000 to BTCPay Server Toward Its Open-Source Development

Today, San Francisco-based cryptocurrency exchange OKCoin announced a $100,000 donation to open-source bitcoin payment processor project BTCPay Server. The funding comes as part of the OKCoin Independent Developer Grant, which was launched last year. BTCPay Server’s product is free to use and its dependent on such contributions to continue operations. “Supporting infrastructure projects is key to our mission at OKCoin [and] we believe that the most impactful way to do this is by backing independent open-source developers; the ground troops and projects dedicated to creating and improving the core infrastructure that the rest of us build on,” the exchange said…

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