Monthly Archives: June 2020

China Could Roll Out Its CBDC Without Anyone Realizing

Ledger’s Glen Woo believes that China’s central bank digital currency could be deployed using existing payment rails without citizens noticing the change. China has emerged as the world’s leader in central bank digital currency, or CBDC, development, driving speculation surrounding the country’s domestic and international ambitions for its CBDC. Speaking to Cointelegraph, Glenn Woo, Ledger Vault’s head of the Asia-Pacific region, predicted that China’s state-backed virtual currency will be the first to launch worldwide. Woo emphasized the speed with which China’s government can deploy major initiatives on […]

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Chinese Companies to Bet Big on Blockchain Despite COVID-19 Crisis

350 Chinese companies surveyed still believe in the higher potential that blockchain technology could offer to their businesses. A survey of 350 Chinese companies revealed that Blockchan’s pre-COVID-19 corporate bullishness remains alive in the region. According to Xinhua, the study, called “Blockchain in the Post-epidemic Age,” showed that 70% of the companies surveyed before the coronavirus outbreak remain optimistic about the potential of Blockchain technology. Up to 20% believe that they will invest even more to mitigate the effects of the crisis. Almost 10 types of industries […]

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BTC in Peril, Quadriga “Ponzi,� Coinbase Punished: Hodler’s Digest, June 8–14

The Bitcoin uptrend could be in peril, QuadrigaCX described as a “Ponzi scheme,â€� and Coinbase is punished for outages. 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 Bitcoin price drop to key $9,000 support could place the uptrend in peril Will the drama surrounding BTC’s price ever end? Probably not […]

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Bitcoin-Friendly Top US Banking Regulator Aims to Solve Banks’ Problems With Decentralization

The new top banking regulator for the Trump administration sees “huge and great promise” in cryptocurrency. Focusing on decentralized networks, bitcoin, and rewriting existing regulations, he shares his views on cryptocurrency and the creation of the digital dollar. Top US Banking Regulator Is Pro-Crypto Brian Brooks recently became the new acting Comptroller of the Currency, the top banking regulator for the Trump administration. The 51-year-old has experience in crypto, having previously served as general counsel to bitcoin exchange Coinbase. Discussing his views on cryptocurrency, regulation, and technology, […]

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Revamping E-Commerce During the Rise of Stablecoins

The third decade of the 21st century will make cryptocurrency the main payment method worldwide because of its benefits over fiat. The world has been slowly recovering from the COVID-19 pandemic, while some countries are bracing themselves for a potential second wave, but the economic downturn in many fields is imminent. This has spurred debates on the current model of a cash-based society, which claim that it had become outdated long before the crisis struck the world. The coronavirus has arguably accelerated the transition to digital cash […]

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Ethereum Options Open Interest Soars 315% — Are Institutions Bullish?

Open interest on Ethereum options contracts surged 315% to $158 million, but are investors using derivatives for bullish or bearish positions? Ether (ETH) options were launched over a year ago at Deribit derivatives exchange but they have only recently gained traction. Open interest is the main gauge for derivative contracts activity, and on Ether options it has soared by 315% over the past two months to $158 million. This surge in OI has many retail investors issuing bullish calls for Ether’s future price but it’s important that […]

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Chinese Banks Says They Will Not Freeze Legal Crypto Accounts

Chinese banks are clarifying that they are not shutting down any legal crypto accounts. Rumor has it that Chinese banks are freezing client accounts that have a history of buying and selling cryptocurrencies. According to a Chinatimes report on June 13, banks in China have clarified that they are not shutting down any legit fiat to crypto accounts. Major banks reply According to the report, China Merchants Bank, Bank of China, Agricultural Bank of China, China Construction Bank and industrial and Commercial Bank of China all responded […]

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BTC Futures Volume Posts 2020 Low, ETH Open Interest Surges

Daily trade volume for Bitcoin futures contracts has dropped to a new year-to-date low. However, open interest in both BTC and Ether futures are rallying into record highs. Trade volume on Bitcoin (BTC) futures exchanges has plummeted to new lows for 2020, with the BTC futures markets collective posting just shy of $5 billion in 24-hour volume on June 13. 76% of futures trading took place on OKEx, Huobi, and Binance — representing $1.4 billion, $1.3 billion, and $1.1 billion in volume, according to data published by […]

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Community Donates 0.7 BTC to Phishing Victim Who Lost Entire Bitcoin Holdings

Crypto community members have donated 0.7 BTC to the victim of a phishing scam who lost his entire Bitcoin savings. The crypto community has rallied in support of the victim of a phishing scheme who lost 12 Bitcoins (BTC) — the entirety of the investor’s holdings that had been accumulated over seven years. On June 12, Eric Savics, the host of Protocol Podcast, tweeted that he has lost his entire Bitcoin savings after entering aftering the seed phrase for his hardware wallet into a malicious imposter of […]

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BRD’s CEO Dismissed Crypto Until Overhearing Andreessen Horowitz Execs

BRD CEO Adam Traidman was won over by Bitcoin after overhearing a conversation at Andreessen Horowitz. In an interview with Cointelegraph, Adam Traidman, the co-founder and chief executive of BRD, formerly Breadwallet, shared the story of his journey into crypto. BRD was founded in 2015, quickly rising to prominence as a popular wallet in the United States and emerging economies like Venezuela. After initially being skeptical regarding Bitcoin’s prospects for mainstream adoption, Tradiman was won over after overhearing a conversation between executives at Andreessen Horowitz concerning BTC. […]

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