Monthly Archives: February 2020

HSBC to Drop 35,000 Jobs and Invest in Digital Finance

HSBC plans to drop $100 billion in risk-weighted assets and 35,000 jobs in the next three years to invest more in digital finance. In an earnings call held on Tuesday, Feb. 18, an HSBC executive revealed the bank plans to cut 35,000 jobs by the end of 2022 and invest more in digital systems.  The plan for HSBC in the next three years is to cut down on staff and branches and simplify the operation by investing in technology. Noel Quinn, group chief executive added in the […]

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EU Securities Regulator Flags Risks of Big Tech’s Entry Into Financial Services

The EU’s financial regulator released a lengthy 2020 report, which includes the dangers of big tech companies entering finance. The European Union’s securities regulator has put out a report warning of risks of Big Tech’s entrance into finance.    “The high level of market concentration typically observed in BigTech may get carried into financial services, with potentially adverse impacts on consumer prices and financial stability,”  the European Securities and Markets Authority, or ESMA, said of Big Tech companies entering finance, as part of its 2020 Trends, Risks and […]

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Ethereum Price Aims for $300 But M-Top Could Reverse the Trend

Ethereum bulls are still pushing for $300 but the possible formation of an M-Top threatens to thwart the current uptrend. The recent Bitcoin (BTC) price correction inflicted double-digit losses on many altcoins and while Ether (ETH) also took a knock, it recovered quickly compared to the price action of other top-ten altcoins. Since dropping 17.67% to $237.62 on Feb. 16,  Ether has rallied 20.78% to $285.99, less than $5 away from its 2020 high at $289.26.  Currently, two of the three price targets discussed in previous analysis […]

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Tim Draper-Backed Startup Launches Blockchain Browser to Avoid Censorship

Tech firm Unstoppable Domains is rolling out a blockchain-based browser set to provide users with access to the decentralized web. Unstoppable Domains, a tech firm backed by prominent blockchain supporter Tim Draper, is rolling out a blockchain-based browser set to provide users with access to the decentralized web. Per a Feb. 18 announcement, Unstoppable Blockchain Browser is designed to simplify access to the decentralized web, also known as web 3.0. This kind of the Internet enables peer-to-peer (P2P) transactions with no involvement of a middleman, reportedly designed […]

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Former Ripple Business VP Takes Role at Major Bank Standard Chartered

Former Ripple executive Kahina Van Dyke took on the role of Global Head, Digital Channels and Client Data Analytics at major bank Standard Chartered. Kahina Van Dyke, former senior vice president of business and development at blockchain firm Ripple, took on the role of Global Head, Digital Channels and Client Data Analytics at major bank Standard Chartered. According to an official announcement published by Standard Chartered on Feb. 19, Van Dyke joined the bank’s Corporate, Commercial and Institutional Banking (CCIB) division. Improving Standard Chartered’s data analytics The […]

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Bitcoin Gold Is Held Captive by Whale With Almost Half the Supply

Bitcoin Gold appears to have been taken over by a single whale that controls price action and is preventing the coin from rising too quickly for a later sell-off. Bitcoin Gold (BTG)’s price is being manipulated by a whale controlling close to half of the circulating supply. These are the findings of an analysis conducted by an independent trader and analyst, who preferred to remain anonymous. He published his findings in a blog post, where he explained why he believes a single group of people accumulated their […]

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Defi for Bitcoin: Collateral Peg Platform Provides Noncustodial BTC Lending on Ethereum

During the second week of February, a new project called tBTC was unveiled that is similar to the Wrapped Bitcoin (WBTC) created with the Ethereum network. However, the tBTC effort claims to be a noncustodial application that allows users to deposit BTC, mint tBTC, and lend it with interest. Also Read: Market Update: Bitcoin Halving Hype, Golden Cross Signals, and GBTC’s 41% Premium tBTC Project Launches on Ropsten Testnet On January 30, 2019, the Wrapped Bitcoin (WBTC) project launched on the Ethereum network using the ERC20 standard. […]

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Price Analysis Feb 19: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK

Numerous cryptocurrencies are attempting to resume their uptrend, which shows that the sentiment amongst traders remains bullish. Eurekahedge’s index of crypto hedge funds have clocked 21.15% returns since the start of 2020 and this is the best performance from the firm since the index started in 2013. Even in 2017, which was the blockbuster year for cryptocurrencies, the January returns were a modest 4.85%. If the crypto hedge funds maintain their stellar performance this year, they are likely to attract further investments in this space. Coinbase is […]

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SEC Nails Enigma ICO: Orders Refund, Registration and Fine

Enigma settled with the SEC for its unregistered ICO, agreeing to pay a fine and return investor funds. The U.S. Securities and Exchange Commission, or SEC, recently announced its conquest over yet another unregistered ICO from 2017. The SEC went after Enigma for its 2017 ICO, labeling the capital raise as an unregistered securities offering, the governing body said in a statement on Feb. 19. Enigma settled with the SEC, agreeing “to return funds to harmed investors via a claims process, register its tokens as securities, file […]

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Bitcoin-Only Exchange Coinfloor Now Focuses on Consumer BTC Services

After turning into a Bitcoin-only exchange, the United Kingdom’s oldest crypto exchange Coinfloor is now expanding its consumer BTC services. While the crypto community is talking about “altcoin season,” one of the world’s oldest crypto exchanges is calling BS on everything that is not BTC. After turning into a Bitcoin (BTC)-only exchange, the United Kingdom’s oldest cryptocurrency exchange Coinfloor is now expanding its consumer BTC services. Focused on Bitcoin, the world’s first ever cryptocurrency, Coinfloor is launching a range of new consumer-oriented investing and trading services in […]

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