Monthly Archives: March 2020

U.S. Government Extends Daily Trillion Dollar Repo, Again Dwarfing Crypto Market Cap

The U.S. Fed has extended repo operations, injecting $1 trillion daily until April, making the crypto space look even smaller. The U.S. government has extended its daily trillion-dollar repo mission until the end of March, making the entire crypto market cap seem even smaller by comparison. “The Federal Reserve Bank of New York announced it will further extend its daily repurchase agreement operations (also known as ‘repo’) to $1 trillion for the rest of March,” CNBC said in a March 20 news update. “Repos are when banks […]

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Folding@Home Surpasses 400,000 Users Amid Crypto Contribution

Decentralized coronavirus research initiative Folding@Home has announced that 400,000 users are contributing to its platform. In a recent Reddit ask-me-anything (AMA) Gregory Bowman, Folding@Home’s (F@H) director, revealed that the project currently has 400,000 computers actively contributing to research. “We had about 30K users before the pandemic started,” he stated, adding: “In the past two weeks, 400K volunteers have joined Folding@home.” The number of F@H donors has increased 1200% in four weeks Folding@Home is a platform that diverts donations of spare computational power toward medical and scientific research. […]

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World Federation of Exchanges Says Crypto Terminology Needs Clarity

The World Federation of Exchanges has called for clarity around crypto terminology and its related implications for regulation. Responding to crypto-related regulatory framework from the European Union, the World Federation of Exchanges, or WFE, called for clarity between digital asset and crypto asset classifications. “We believe there could be value in adopting a single EU classification which covers both: digital-assets and also crypto assets, as a subcategory,” the WFE wrote in response to questions posed in a March 20 report. A new industry charts murky waters Blockchain […]

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Steem Community Resists Takeover, Hard Fork Launches Hive Network

The Steem community continues its fight in one of the biggest crypto dramas of 2020 — rolls out Hive as an alternative. The Steem (STEEM) blockchain community continues to oppose Steemit in the wake of the recent “takeover” orchestrated by Justin Sun, the startup’s new owner. On March 18, “a large group of Steem community members” announced its intention to hard fork the Steem blockchain and create a new platform called Hive. The network split that was scheduled for Friday, March 20, successfully took place at around […]

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Less Than 1% of Australians Used Crypto to Pay for Services in 2019

Less than 1% of Australians used crypto for consumer payments in 2019, according to a survey by the Reserve Bank of Australia. While some Australian authorities recognize cryptocurrencies as a form of investment, digital assets like Bitcoin (BTC) are apparently not very popular as means of payment in the country. Australia’s central bank, the Reserve Bank of Australia (RBA), says that less than 1% of Australians used cryptocurrencies like Bitcoin to make a consumer payment in 2019. Australian consumers increasingly prefer to use electronic payment methods The […]

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US SEC Freezes Assets of Alleged Crypto Scam Backed by a Former State Senator

The U.S. SEC halts alleged ongoing crypto scam Meta 1 Coin, which promised up to 224,923% and is backed by a former state senator. The United States Securities and Exchange Commission (SEC) has frozen the assets of Meta 1 Coin, an alleged crypto scam backed by a former state senator that promised investors returns of up to 224,923% without ever having any actual tokens.  Per a March 20 announcement from the SEC, the regulator initially froze Meta 1’s assets on March 16 and is charging the firm’s […]

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Onchain Data Suggests Bitcoin Sell-Off Fueled by New Investors

While the covid-19 outbreak has caused economic calamity, cryptocurrencies have regained some of the losses that devastated digital currency markets on March 12. A recent report published by the researchers at Coin Metrics notes the “crypto asset sell-off was driven by short-term holders.” Further, an analyst at Unchained Capital agreed with Coin Metrics’ findings and wrote that “a majority of the volatility came from UTXOs 6 months old or younger.” Also read: The 35 Most Influential Bitcoiners Dominating Crypto Twitter by Follower Count Coin Metrics’ State of […]

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IRS Delays Tax Day to July 15, Still Monitors Crypto

In response to the COVID-19 pandemic, the Internal Revenue Service has delayed tax payment deadlines by 90 days, and later the date for filing returns has also been changed. Like other financial markets, crypto investors have seen wild swings and devaluations in recent weeks as Coronavirus, also known as COVID-19, issues have hit many people all over the world. With safety concerns paramount, it can be easy to forget for a time about more pedestrian issues like taxes. But taxes won’t go away entirely. The United States […]

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Crypto Hedge Fund Goes Belly Up After Bitcoin Price Drop to $3.8K

Following last week’s sharp market correction, crypto hedge fund Adaptive Capital announces its closure. Adaptive Capital, a crypto hedge fund, has announced that it will shutter all operations after taking heavy losses during the March 13 crypto market meltdown which saw Bitcoin (BTC) price drop to a 2020 low at $3,775. The fund has now issued a letter to its investors announcing the closure of the fund and the return of all remaining assets to investors.  The hedge fund had previously reported gains over 552.77% from October […]

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Honeywell: “Corporate America Needs to Change Its Mindset�

Honeywell International Inc., a publicly-traded company with an $80 billion market cap has taken an unconventional approach to blockchain. Honeywell International Inc., a publicly-traded company with an $80 billion market cap, previously announced a blockchain-based marketplace for airplane parts. According to a recent interview with Cointelegraph, they may soon begin recording your home’s carbon footprint on a blockchain ledger as well. DIY blockchain project In a Cointelegraph exclusive interview, Lisa Butters, general manager of Honeywell’s GoDirect Trade platform, noted that the company took an unorthodox approach to […]

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