Monthly Archives: March 2020

Dubai Welcomes Global Businesses With First Blockchain KYC Platform

DIFC and Mashreq Bank launch Blockchain KYC platform to support faster business registration in the UAE. Dubai International Financial Centre (DIFC) and Mashreq bank announced the launch of their new blockchain data-sharing platform on March 1st. This platform will allow licensed businesses and corporations to open digital bank accounts instantly by verifying their identities via an internal blockchain. Mashreq accomplishes this by removing the existing paper-based KYC procedure and replacing it with a blockchain-centric digital one. DIFC prepares each new KYC record as part of a company’s […]

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Coronavirus Hits Crypto, Buffett Beef, Craig Wright a ‘Disgrace’: Hodler’s Digest, Feb. 24–Mar. 1

Cryptocurrencies fall ill as coronavirus fears grip the market, Anthony Pompliano attacks Warren Buffett, and CZ calls Craig Wright a “disgrace.â€� Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week A bruising week for cryptocurrencies, stock markets and even gold This week, it seemed like nowhere was safe from panic over […]

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Analyst Claims 98% of Mining Rigs Fail to Verify Transactions

Crypto analyst Alex de Vries has claimed that carbon footprint of Bitcoin mining is on par with New Zealand, with the network’s power consumption equaling that of Chile. Alex de Vries, the founder of the Digiconomist, has given a damning assessment of the electricity consumed by Bitcoin (BTC) mining in an interview with British media outlet, The Telegraph. According to de Vries, a single Bitcoin transaction expends the same quantity of electricity needed to power a British household for 59 days, 780,650 Visa transactions, or 52,043 hours […]

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XRP Price and Volume Linked to Twitter Activity, New Data Reveals

Data shows that since 2018 tweets mentioning XRP have influenced trading volume and the correlation has become stronger in 2020. XRP gains from the month of February were erased over the past two weeks as the altcoin returned to its late January price at $0.23 today. The majority of the losses appear to be caused by the massive correction in traditional markets, which caused a sharp downturn for Bitcoin and many altcoins. As reported by Cointelegraph, analysts now view the correction as a major setback, raising doubts […]

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Hester Peirce’s Last Effort at SEC as Wilshire Phoenix BTC ETF Is Rejected

With Hester Peirce’s term expiring in June, Commissioner takes a swipe at the SEC. Securities and Exchange Commissioner (SEC) Commissioner Hester Peirce has published a dissenting statement in response to the Commission’s rejection of Wilshire Phoenix’s Bitcoin Exchange Traded Fund application.  In her statement, Peirce slams the SEC for its biased treatment of Bitcoin-related products with the passion of a “Bitcoin maximalist.” Given that the commissioner’s term expires in a little over three months, at the beginning of June 5, it raises a question: Could Peirce be […]

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Cryptocurrency Could Kill Bank Lending, Warns Bank of England Deputy Governor

In the cryptocurrency economy, the supply of credit through the banking system could disappear, warned Bank of England Deputy Governor Sir Jon Cunliffe. That would be a change with “profound economic consequences,” he added, emphasizing the risks from Facebook’s Libra project and global stablecoins. Also read: SEC Karate-Chops Steven Seagal Over Promoting Cryptocurrency Touted as the Next Gen Bitcoin ‘Profound Economic Consequences’ Bank of England Deputy Governor Sir Jon Cunliffe warned on Friday that bank lending could dry up in the cryptocurrency economy. In a speech given […]

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Tether CTO to Tell the Story of USDT Stablecoin At Upcoming Conference

Tether’s CTO Paolo Ardoino plans to tell the story of Tether (USDT) stablecoin on March 10 at CryptoCompare’s Digital Asset Summit. Amid ongoing lawsuits surrounding controversial stablecoin Tether (USDT), the company’s CTO plans to detail the asset’s background at an upcoming conference.  Bitfinex and Tether CTO Paolo Ardoino is slated to recount “the story of Tether’s inception and success” in a keynote speech at the CryptoCompare Digital Asset Summit in London on March 10, a statement from CryptoCompare said on Feb. 28. The firm’s CTO appears confident […]

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Top 5 Cryptos This Week (March 1): LEO, HT, LINK, HEDG, Bitcoin (BTC)

Bitcoin and cryptocurrency markets are witnessing profit booking at higher levels and buying on sharp falls, pointing to consolidation over the next few days. The last week of February saw a blood bath across various asset classes on fears that the coronavirus outbreak is turning into a pandemic. This led investors to dump their positions in the equity markets, which wiped off about $3.8 trillion of value in U.S. stocks. Gold, which has acted as a traditional safe haven was not spared. The yellow metal plunged about […]

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Market Update: Coronavirus Fears, Stock Market Crash, and Bitcoin Price Predictions

Digital currency markets have been consolidating since the initial price drop on February 26 that saw $25 billion shaved off the entire cryptocurrency market. At the time of publication, the cryptoconomy is hovering just above the $245 billion zone and a few coins today are making slight gains. Also read: MTV Airs Only the Negative Parts of Crypto Youtuber ‘Ya Girl’ Rachel Siegel’s Bitcoin Analysis As Crypto Markets Consolidate, Traders Await the Next Move On Sunday, March 1, 2020, most digital currencies have been consolidating into a […]

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Kraken Donates 17.5 Bitcoin to Collaborative Hackerspace Noisebridge

Kraken donated 17.5 Bitcoin to San Francisco’s anarchist hackerspace Noisebridge to keep the space running. On Feb. 27 Noisebridge advocate and attendee John Backus woke up to see that approximately 17.513 Bitcoin (BTC) – equivalent to about $156,000 at the time –  had been deposited into Noisebridge’s cryptocurrency wallet.  The unexpected deposit came from U.S. based cryptocurrency exchange Kraken. The exchange sent the Bitcoin as a donation in response to a tweet that Backus had put out the day before asking for funds to help keep Noisebridge […]

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