Yahoo! Japan confirms the launch of Taotao

The trading services will start with a limited number of cryptocurrencies.
Yahoo! Japan had previously acquired a 40% stake in Taotao.

Rajarshi Mitra Independent Analyst

Taotao, the Yahoo! Japan-owned crypto exchange, confirmed in a Twitter post that it will be launching on May 30. Upon translating, their tweet read:

“[Announcement of business start Date]
We've kept you waiting. ☺️ The virtual currency exchange "TAOTAO" service will start at noon (scheduled) on May 30, 2019 (JST)!

Please wait until business start for a while. #TAOTAO #仮想通貨”

Tatao started accepting pre-registrations on March 25. However, its trading services will start with a limited number of cryptocurrencies. Taotao will initially launch Bitcoin (BTC) and Ether (ETH) as its base currencies. It will also offer leveraged positions on Bitcoin Cash (BCH), Litecoin (LTC) and Ripple (XRP).

Due to the recent bull run, exchanges have struggled to keep pace with the increasing demand. Yahoo! Was able to successfully enter the market following the efforts of the Financial Services Agency (FSA), Japan’s financial watchdog, who have tightly managed the domestic cryptocurrency margin trading platforms. The Japanese exchanges are also under strict supervision, following Coincheck’s $530 million hack.

Yahoo! Japan is the largest internet provider in the country and supplies more financial transactions than PayPal. Back in 2018, Yahoo! Japan acquired a 40% stake in Taotao, formerly known as BitARG via YJFX, its retail Forex brokerage arm. The purchase price for the stake in BitARG was disclosed to be 2 billion yen ‎‎($19 million).‎

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

Dogecoin tests a key make-or-break point amid waning retail support

Dogecoin trades below $0.08000 maintaining a steady decline for the seventh straight week, with a 4% drop the previous day. The meme coin is losing its retail strength as DOGE futures Open Interest drops 10% in 24 hours, while institutional demand remains muted with zero inflows so far this week.

Meta CEO Zuckerberg directs development of standalone prediction markets app 'Arena'

Mark Zuckerberg has directed a small team at Meta to develop a new smartphone app focused on prediction markets, according to a Tuesday report by the New York Times. The experimental project, internally known as Arena, would allow users to forecast outcomes across sports, politics, entertainment and current events.

Top 3 Price Prediction: BTC under pressure, ETH loses key support, XRP momentum weakens

Bitcoin, Ethereum, and Ripple remain under pressure on Wednesday after falling slightly the previous day. BTC trades below $63,000, ETH slips below $1,700, while XRP momentum continues to weaken. The deteriorating price action in these top three cryptocurrencies suggests a potential continuation of the near-term correction.

Crypto Market Overview: Bitcoin loses $63,000 amid tech sell-off – WLD, VVV tokens lead losses

Bitcoin (BTC) edges below $63,000 at press time on Wednesday, amid a global sell-off of tech stocks, including AI and chip stocks. The broader crypto market recorded $550 million in total liquidations, primarily driven by long liquidations, suggesting sell-side dominance, with Worldcoin (WLD) and Venice Token (VVV) leading losses.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.