Monthly Archives: March 2020

BTC Plunge, YouTube Ban & Other Challenges: Bad Crypto News of the Week

Check the bad crypto news of the past week. Bitcoin has been on a downward streak for the last week, down around 15 percent over the last seven days. That’s bad but it could be worse. You might have put your money in stocks. Some people, though, remain optimistic. RT’s Max Keiser predicts that the coronavirus will push Bitcoin up to $100,000, and JPMorgan’s CEO Jamie Dimon will be begging the Fed for money to buy coins. Dimon might want to diversify though. Brian Armstrong, CEO of […]

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With $1.5 Billion Under Management Grayscale Bitcoin Trust Slides 30%

Prior to the market carnage on March 12, the Grayscale Bitcoin Trust (GBTC) had acquired over 300,000 BTC. Grayscale’s trust has been one of the longest-running FINRA approved investment vehicles with bitcoin assets under management. On Feb. 5, GBTC shares climbed more than 10% that week and investors were also paying a 20-30% premium. Since then and after the market downturn on Thursday, GBTC shares are down 45% from $11.52 to $6.32 per share. Also read: Market Update: Cryptocurrency Market Cap Sheds $90B, Margin Calls Spike, Futures […]

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Bitcoin CME Futures Volume Dropped — Did Institutions Jump Ship?

The decline in Bitcoin CME futures volume led some investors to speculate that institutional investors jumped ship, but what really happened? Over the past two years Bitcoin (BTC) futures trading on CME (Chicago Mercantile Exchange) has grown in importance for institutional investors. However, a popular misconception among traders is to attribute an unwarranted amount of importance to futures market activity and its impact of spot prices. It is important to highlight that despite trading under the BTC ticker, CME futures are financially-settled and therefore does not involve […]

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US Firm Plans $100 Million ICO to Fund Electric Vehicle Production in Africa

U.S. firm Alternet Systems (ALYI) is preparing to launch a $100 million ICO intended to fund electrical vehicle production for the African market. Alternet Systems Inc (ALYI), an energy storage, military application, and electric motorcycle firm, has entered into a new partnership to launch a cryptocurrency dedicated to funding electric vehicle projects in Sub-Saharan Africa, according to a March 11 announcement. While Alternet did not name the company it has partnered with, Alternet Systems revealed that the cryptocurrency has successfully been minted on the Ethereum blockchain. Alternet […]

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Crypto Networks Stress Tested During Bitcoin’s Wild Week

Crypto valuations haven’t been the only casualties of this week’s market crash; crypto networks have also felt the strain. As onchain activity has ramped up in response to the market slump, fees have soared and the mempool filled on the BTC and ETH chains. Other crypto networks have operated smoothly, however, despite the pandemonium. Also read: Market Update: Cryptocurrency Market Cap Sheds $90B, Margin Calls Spike, Futures Slide Mempool Fills on Bitcoin’s Most Volatile Day in a Year As bitcoin lost 50% of its value on Black […]

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Italian Red Cross Launches Bitcoin Fundraiser to Combat Coronavirus

A new initiative by the Italian Red Cross aims to raise funds via cryptocurrencies to face the coronavirus in Italy. The Italian Red Cross and the Colli Albani Committee are raising donations Bitcoin and other cryptocurrencies to fight the country’s coronavirus pandemic with the support of Helperbit, as announced on March 12. Goals of the new campaign Proceeds from the campaign will reportedly be used to set up a second-level advanced medical post for pre-triage of COVID-19 cases in the country, and it is expected to reach […]

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Rhode Island Blockchain Act Seeks Regulatory Clarity for Crypto, Representative Place Explains

Rhode Island Rep David Place explains the state’s new bill also relates to cryptocurrencies. Although Rhode Island’s recent Blockchain Act does not explicitly reference cryptocurrencies, the bill aims to provide regulatory clarity for them. “If you look at the legislation, it doesn’t necessarily mention crypto specifically, but when it talks about complex financial instruments and things of that nature, that’s what it’s referring to — it’s referring to cryptocurrency,” Rhode Island state representative David Place told Cointelegraph in an interview. The bill looks like a blockchain-only bill, […]

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BitMex Insurance Fund Tags ATH, Binance and Deribit Inject Millions

BitMex appears to have emerged from the recent market meltdown stronger than ever, with the exchange’s insurance fund quickly jumping back into all-time highs. The March 13 crypto market meltdown ravaged cryptocurrency companies across the industry, sparking a MakerDAO debt crisis and causing millions to be deployed from the insurance funds of exchanges Binance and Deribit. In spite of the widespread carnage, the insurance fund of leading derivatives exchange, BitMex, only took two days to break back into new all-time highs. BitMex insurance fund posts new all-time […]

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EthCC Paris Attendees Urged to Get Tested After Seventh COVID-19 Case

The number of confirmed COVID-19 cases among attendees of the Ethereum Community Conference in Paris earlier this month has jumped to seven. The number of attendees of the Ethereum Community Conference (EthCC) conference in Paris to contract coronavirus has now increased to seven — highlighting the urgent need for attendees to get tested for COVID-19. The EthCC conference took place from March 3 until March 5 — just a few days prior to the Macron government banning all public gatherings of more than 1,000 people in France. […]

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Court Backs County for Electricity Price Hike Targeting Crypto Mining

Judge rules against entities who sued a utility district for introducing new electricity pricing targeting crypto miners in 2018. A Washington court has ruled against one individual and five companies that sued the Grant County Public Utility District No.2 for suddenly creating a new electricity pricing schedule for power consumed by “emerging industries” in December 2018. On March 12, Judge Rosanna Peterson of the U.S. District Court for the Eastern District of Washington found that the plaintiffs were unable to demonstrate that the country violated federal electricity […]

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