CRYPTO NEWS: Latest BITCOIN News, CNY News, BINANCE News, COINBASE News!

CRYPTO NEWS: Latest BITCOIN News, CNY News, BINANCE News, COINBASE News

1. Bitcoin Investor Sues IRS for Unlawful Seizure of Financial Records at 3 Crypto Exchanges
2. Abra CEO Agrees With Bitcoin’s Role as Digital Gold
3. Did CNY Cause Bitcoin’s Fall and Sideways?
4. Binance is looking to consolidate more bitcoin mining hashrate to its pool in Russia and the Central Asia region.
5. Bitcoin Trading Near Last Line of Defense: Can Bulls Save the Day?
6. Lightning Startup Zap Raises $3.5M From Investors Including Morgan Creek
7. Algorand Spikes 30% After Surprise Coinbase Listing
8. Japan Should Urge US to Hurry Up With Digital Dollar Says Fisco Exec.

1. Bitcoin Investor Sues IRS for Unlawful Seizure of Financial Records at 3 Crypto Exchanges
Bitcoin investor Jim Harper has sued the U.S. Internal Revenue Service, its commissioner, and a number of federal agents. He alleged that they unlawfully seized his private financial information from three cryptocurrency exchanges.

2. Abra CEO Agrees With Bitcoin’s Role as Digital Gold
After changing roles several times since its 2009 launch, the current line on Bitcoin calls it a store of value comparable to gold — a status with which Abra CEO Bill Barhydt agrees.
“Today Bitcoin is best used as a store of value that will become more and more uncorrelated to traditional investing markets over time,” Barhydt told Cointelegraph.
Bitcoin’s role transformation since inception

3. Did CNY Cause Bitcoin’s Fall and Sideways?
China’s yuan, CNY, has been gaining against the dollar since mid June, rising from one dollar buying you close to 7.2 CNY, now to 6.98.
That’s while the dollar’s strength index has been falling considerably from above 100 to now 96 where there’s a significant support line as it nears a two year low.

4. Binance is looking to consolidate more bitcoin mining hashrate to its pool in Russia and the Central Asia region.
The world’s largest crypto exchange is deploying a physical server node for its pool at BitRiver, the largest bitcoin mining hosting provider in Bratsk, Russia. The move would give miner owners at BitRiver who choose to switch to Binance a better connection and direct route to its mining pool, the two firms said in an announcement Friday.
In return, Binance would gain exposure and access to customers who run their machines at BitRiver, which currently operates mining facilities at a capacity of 70 megawatt-hour out of a full capacity of 100 mWh.

5. Bitcoin Trading Near Last Line of Defense: Can Bulls Save the Day?
In the past few sessions, bitcoin followed a bearish path below the $9,300 resistance against the US Dollar. BTC traded below the $9,200 support level and the 100 hourly simple moving average.
It even broke the $9,120 support level and traded towards the $9,000 level. A low is formed near the $9,022 level and the price is currently correcting higher. There was a break above the $9,100 level. The bulls pushed the price above the 23.6% Fib retracement level of the recent decline from the $9,275 high to $9,022 low.

6. Lightning Startup Zap Raises $3.5M From Investors Including Morgan Creek
Zap, the Lightning startup behind a non-custodial Bitcoin wallet, has raised $3.5 million in a seed round in April.
As reported by Forbes on July 15, previously undiscovered filings by the U.S. Securities and Exchanges Commission revealed Zap raised $3.5 million in the April seed round with investors including Green Oaks Capital and Morgan Creek Digital, co-founded by Bitcoin bull Anthony “Pomp” Pompliano.

7. Algorand Spikes 30% After Surprise Coinbase Listing
On July 16, Coinbase abruptly announced that ALGO trading had been launched on Coinbase.com and the exchange’s apps. Trade volume for Algorand increased by nearly four times since in response to the listing, comprising the third-strongest day of trade in ALGO’s history.

8. Japan Should Urge US to Hurry Up With Digital Dollar Says Fisco Exec.
Japan is behind the curve on the establishment of a central bank digital currency and should throw its weight behind the United States establishing a digital dollar, says Takaya Nakamura, an executive from Japanese crypto exchange Fisco.