Monthly Archives: April 2020

Bitcoin Naysayer Jamie Dimon Praises $2 Trillion Stimulus While Predicting Great Recession

JPMorgan chairman and CEO Jamie Dimon predicts a major recession on par with the Great Recession of 2008. JPMorgan Chairman and CEO Jamie Dimon praised the U.S. government for quick action in the wake of COVID-19, yet he criticized it for not having a “pandemic playbook.” Dimon is mostly known among the crypto community for his derisive statements about Bitcoin (BTC). In September 2017, Dimon called Bitcoin “a fraud” right before its historical peak.  On another occasion he said: “It’s worse than tulip bulbs. It won’t end […]

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Jack Dorsey Donates 28% of His Wealth to Global COVID-19 Relief

Who knew 140 characters would go this far? Twitter CEO and Square founder Jack Dorsey has started a new fund called Start Small LLC, aimed at fighting COVID-19. He’s seeding the fund with $1 billion, roughly 28% of his wealth. He shared the news via Twitter: Source: Twitter The fund’s efforts will initially focus fighting the global pandemic currently dominating the news cycle, but will eventually switch to providing money for girl’s health, education and universal basic income (UBI) initiatives. Dorsey is really putting his money where […]

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Canaan IPO Class Action: Shareholders Must Decide Who Will Represent Them By May

A deadline was set at May 4 to define who will represent Canaan stakeholders’ interests in class-action lawsuit against the mining firm. Law firm Robbins Geller Rudman & Dowd LLP announced on April 7 that the lead plaintiff motion deadline in the Canaan securities IPO class action lawsuit was set for May 4, 2020. The Canaan’s litigating stakeholders in the “Lemieux v. Canaan Inc.” case are expected to decide who will represent their interests, as they were accused that the initial public offering (IPO) carried out last November […]

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Bitcoin Cash Halving in T-Minus 16 Hours, BSV to Follow

Bitcoin forks BCH and BSV will both complete their block halvings this week, roughly two days apart. Bitcoin Cash (BCH) will complete its block reward halving over the next 24 hours, with Bitcoin Satoshi’s Vision (SV) following shortly after.  One of Bitcoin’s most controversial forks, Bitcoin Cash, will halve in approximately 16 hours as of press time, cutting its block reward from 12.5 BCH down to 6.25.   Bitcoin forks follow the original coin’s lead The result of community disputes, Bitcoin’s chain split in 2017, forming two assets […]

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Bobby Lee Calls For BTC to Reach All-Time High in 2020

Crypto expert Bobby Lee said Bitcoin could hit $10,000 by May, and $25,000 by December. Crypto exchange founder, Ballet crypto wallet company CEO and founder, and member of the Bitcoin foundation’s board of directors, Bobby Lee, sees soaring prices in Bitcoin’s (BTC) future.   Lee said he expects Bitcoin to hit $10,000 by its block reward halving in May in a statement provided to Cointelegraph. The CEO also forecast a $25,000 price tag for BTC by December 2020.  The halving means less inflation Lee has projected positive price […]

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5% Over Spot: Gold-Backed Tokens Tether Gold and Digix Sell for Higher Premiums

Digital asset markets have been gathering some gains during the last few days and tokens like stablecoins have seen massive demand since the start of the market carnage. Alongside stablecoins, gold-backed digital assets like Tether Gold, Pax Gold, and Digix Gold have seen tremendous trade volumes as well. In fact, cryptocurrencies that claim to be backed by gold are selling for 1-5% above gold’s .999 per Troy ounce spot price. Also read: Hyperbitcoinization: Visions of Bitcoin Fueling the Post Covid-19 Shadow Economy Gold-Backed Crypto Assets Shine Crypto […]

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Former Facebook Exec: BTC’s Price is Either Going to Zero or Seven Figures

Social Capital CEO and former Facebook executive Chamath Palihapitiya believes Bitcoin’s price will either explode amid economic collapse or go to zero. In a recent discussion with Morgan Creek Digital Partner Anthony Pompliano, Social Capital CEO and former Facebook executive Chamath Palihapitiya asserted that the price of Bitcoin (BTC) will either reach “millions,” or go to “zero.” For Palihapitiya, the question of whether Bitcoin succeeds will be determined by whether the architects of the existing financial system continue on the current path toward debasement. BTC price will […]

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What Makes DeFi Decentralized? Rune Christensen on Centralized Collateral and Decentralizing Make

The eternal battle between the ideology of decentralization and the pragmatism of the real world underpins most of the discussion on the future of MakerDAO. As part of its Black Thursday mitigation efforts, MakerDAO introduced USDC as a form of collateral. While this was an emergency measure, it touched the very sensitive topic of centralized collateral assets in Maker (MKR). The concept of decentralization underpins the entire existence of crypto, serving as a core ideology. Historically, decentralization has clashed with the need to be pragmatic in creating […]

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Russian Darknet Criminals Sell $13M of Fake Cash for Crypto

Russian authorities detained a group of online criminals that sold massive amounts of counterfeit banknotes on the dark web in return for crypto. Russian authorities have detained a group of online criminals that reportedly sold massive amounts of counterfeit banknotes on the dark web in return for cryptocurrencies. According to an April 7 report from Russian news agency Kommersant, the criminal group has managed to sell more than 1 billion counterfeit Russian rubles, worth around $13 million as of press time. Criminals operated via Russia’s largest darknet […]

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Bitcoin Spikes by 2x in 26 Days: What’s Actually Behind the Big Rally?

The Bitcoin price has increased by two-fold in less than a month, surging from $3,600 to over $7,350. Here are three main factors that likely contributed to it. The Bitcoin (BTC) price has increased by two-fold in less than a month, surging from $3,600 to over $7,350. While traders believe a combination of many factors caused the upsurge, there are three main factors that likely contributed to it. The three factors are a significant surge in spot buys, a massively overextended plunge below $4,000, and the immediate […]

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