Litecoin Foundation and Beam Partner to Explore New Protocol, LTC Price Soars 30%

The Litecoin (LTC) Foundation has partnered with software development firm Beam to explore the implementation of a new protocol that would improve privacy and scalability. The news was reported in a Beam Medium blog post Feb. 7.

The new protocol, dubbed “Mimblewimble” — a fictional tongue-tying curse from the popular Harry Potter novels — is reportedly being tested for use in conjunction with the scalability solution “Extension Blocks.” The Beam blog post states: Source: Cointelegraph

NYSE Owner: Bakkt is Our ‘Moonshot’ Bitcoin Bet

Bitcoin trading platform Bakkt is a “moonshot bet” for Intercontinental Exchange, the parent company of the New York Stock Exchange. That’s the assessment of NYSE chairman Jeff Sprecher, who’s also the CEO of ICE.

While its launch has been delayed several times, Sprecher is optimistic that Bakkt will be worth the investment that ICE is making to nurture it. Sprecher made the remarks during a February 8 conference call to discuss ICE’s fourth-quarter earnings. Source: CCN.com

$312 Million in Mt Gox Cryptos Possibly Sold Via BitPoint Exchange

What appear to be leaked bank documents suggest that millions of dollars-worth of cryptocurrency from the now-bankrupt bitcoin exchange Mt. Gox may have been sold on the the open market through Japan’s BitPoint exchange last year.

Goxdox, a site dedicated to supporting the creditors of Mt. Gox, published images of bank transactions on Tuesday, stating that they show payments in Japanese yen from BitPoint to the account of the Mt. Gox trustee, Nobuaki Kobayashi. The payments amount to 34.3 billion yen (about $312.5 million at today’s exchange rate).

The most likely explanation is that the payments represent fiat funds resulting from the sale of bitcoin and bitcoin cash from Mt. Gox, the site concluded, saying: Source: Coindesk

Bitcoin Price Surges Nearly 10% to $3,700, BTC May Soon Climb to $4,000

Following the recent market downturn that sent Bitcoin down to its previously established support level at $3,400, BTC has bounced and has broken above its resistance level at $3,500, which could mean that further gains are in store in the near-future.

Bitcoin’s positive price action today has led many analysts to flip bullish on the cryptocurrency, but one prominent analyst is quick to point out that Bitcoin is still caught in a much wider trading range, which could mean that today’s upwards move is simply noise in the long-term. Source: Newsbtc.com