Monthly Archives: June 2020

Law Decoded: Of Street Marches and Market Manipulators, May 30–June 5

As protests rage throughout the United States, this week’s biggest moves in crypto law were behind the scenes. Cointelegraph’s weekly newsletter on the latest in law, policy and regulation for the crypto and fintech industry.  Editor’s note A lockdown spring is giving way to a protest summer in the U.S., and this will be an especially U.S.-focused edition of Law Decoded. Washington’s focus has shifted from the novel coronavirus over to the mass demonstrations around the country as well as near the White House. The world watches […]

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Revolut Confirms Firing 62 Employees in the Wake of Coronavirus

London-based tech startup Revolut confirmed its employee downsizing numbers. Revolut fired a number of employees since the coronavirus outbreak began, according to a story from Wired. The European fintech company responded with a statement on the numbers and rationale. “As in many companies, COVID-19 necessitated cost cutting across our business and, in the last resort, we made 62 redundancies globally, representing less than 3% of our staff,” a Revolut spokesperson told Cointelegraph on June 5.  Revolut allegedly asked staff to quit   Job redundancy refers to a certain […]

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Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement

The Federal Reserve’s Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the London Interbank Offered Rate (Libor). Powell also detailed in a letter to Senator Tom Cotton (R-AR), that the Ethereum version of Libor, a software called “Ameribor” may not be for everyone. The United States Federal Reserve has expanded a great deal since the start of the coronavirus outbreak and a few months prior as well. This week a letter to Senator Tom Cotton from Fed Chair Jerome […]

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Poloniex Lists Binance Coin Following Tensions Over Steem

Poloniex has launched support for Binance Coin and Binance USD, despite CZ’s recent vocal criticism of Justin Sun over his handling of Steem. Poloniex, a veteran exchange that was recently purchased by a consortium including Tron founder Justin Sun, has launched Binance Coin (BNB) and Binance USD (BUSD) pairings. As of June 6, BNB and BUSD wallets are now live on the exchange, with markets for the corresponding pairings slated to launch in post-only mode to ensure stability before full trading functionality rolls out. Binance tokens listed […]

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Grayscale is Buying Up More Than Just Bitcoin

22% of crypto fund manager Grayscale Investments’ purchases have been Ether throughout 2020 so far, totaling $110 million worth of accumulation. While great attention has been paid to the recent enormous accumulation activities of the Grayscale’s Bitcoin Investment Trust, or BIT, the crypto fund manager has also been aggressively growing its Ether (ETH) stash.  Speaking on a recent episode of the Coinscrum markets podcast, Grayscale’s director of investor relations, Ray Sharif-Askary, revealed that $110 million worth of ETH has been purchased by the firm during 2020 so […]

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Price Analysis 6/5: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ

Many cryptocurrencies are showing strength by hovering close to their recent highs even as gold is selling off. The U.S. equity markets are on a tear as the traders cheer the largest jobs gain ever. This report has improved sentiment as it suggests that the blip in the economy due to the pandemic was temporary.  Many traders who had been sitting on the sidelines are likely to jump into stocks due to fear of missing out on what could be the early stages of a strong rally. […]

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Reddit’s Biggest Blockchain Advocate Just Resigned To Fight Racism

Reddit co-founder Alexis Ohanian recently announced his planned actions to fight racism. Alexis Ohanian, a millionaire tech entreprenuer and co-founder of online social platform Reddit, recently publicized plans for his personal fight against racism. These include his desire to see a member of the black community replace him at his current board position. “I’ve resigned as a member of the reddit board, I have urged them to fill my seat with a black candidate,” Ohanian said in a June 5 tweet. The United States shows unrest  Over […]

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Charles Hoskinson: Recursive SNARKs Could Help Bitcoin Scale

Charles Hoskinson believes that this complex cryptographic technique could have helped avoid the Bitcoin Civil War that led to the formation of Bitcoin Cash. In a Cointelegraph interview, Charles Hoskinson said that in his opinion, recursive snarks could be a solution for the Bitcoin’s (BTC) scalability problems. Intellectual dishonesty Hoskinson believes that there was a lot of intellectual dishonesty in the block size debate, which eventually led to the creation of Bitcoin Cash (BCH). Discussing the main argument of the Bitcoin core supporters that the increase in […]

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Golem Publishes Proof of Device Concept For Identity Authentication

New research from decentralized CPU-sharing network Golem shows a concept for identity authentication using Proof of Device, based around Intel’s SGX technology. Decentralized CPU-sharing network, Golem, published its research into a Proof of Device, PoD, mechanism for user authentication, June 5. While still a proof of concept, the research outlines a method by which users can automatically validate their hardware, proving identity in an anonymous yet trusted manner. Necessity is the mother of invention The research stems from Golem’s need to secure its own permissionless, anonymous network […]

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Why $8.1K Will Be a Key Level for Bitcoin Price for the Next 6 Months

Bitcoin may not break $10,000 for some time as several metrics point to possible pullbacks to under $9,000. Bitcoin (BTC) is trading at $9,687 representing a 0.87% loss in value in the last 24 hours and 1 % for today’s session Looking at performance relative to its peers, Ether (ETH) and XRP are both underperforming versus Bitcoin at the moment. Ether, the second-biggest cryptocurrency by market capitalization, being down 1.29% and XRP 1.22% in the last 24 hours. But both have outperformed Bitcoin this week with ETH […]

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