Monthly Archives: July 2020

Authorities Take Down Biggest Criminal Chat Network Yet

Authorities across Europe take down an organized crime syndicate that used an encrypted chat network to coordinate their illicit activities. Law enforcement authorities throughout Europe arrested over 800 individuals that allegedly were using an encrypted chat network to coordinate their illicit activities. 60,000 members EncroChat was using modified Android devices to provide its users “worry free secure communicationsâ€�. BBC reports that EncoChat has about 60,000 users: “An estimated 60,000 people, among them up to 10,000 in Britain, subscribed to France-based EncroChat, which has now been taken down.â€� […]

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Bitcoin’s Current Price Impacted By Miners? It’s Possible, Analytics Company Says

Bitcoin’s recent price action could relate to miner selling. Mike Alfred, co-founder and CEO of data analytics outfit Digital Assets Data, recently pointed toward miners as a potential catalyst for recent Bitcoin (BTC) price activity.  “It is tough to say definitively, but it appears as though the miners’ actions are having a direct, immediate impact on price,â€� Alfred told Cointelegraph on July 1.  “This is especially evident during outlier events like on the 23rd, where we saw miners offload >300% more BTC than they mined that day,â€� […]

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Institutional Market Sentiment Data is Now Available to Anyone

CoinMetro makes institutional grade sentiment data available to regular traders for the first time. Estonian exchange, CoinMetro, has chosen to make their crypto sentiment analysis tool available to common users. This is the same tool that is used professionally by crypto hedge funds. Although the tool appears rather simplistic, CoinMetro CEO Kevin Murcko told Cointelegraph that the key here is that regular traders get access to exactly the same data that institutions have: “This data that we’re displaying is the same exact data viewed at the same […]

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Demand for Bitcoin Will See a Dramatic Shift in 8 Years – Retail Addresses to Eat up Entire New Supply

A recent report from ZUBR Research explains that by 2028, retail demand for bitcoin will exceed the new supply. The report highlights that in eight years as Bitcoin’s supply rate decreases “retail size addresses [will] begin to eat up all the new supply alone.” Even the next halving in 2024 could see retail accounting for acquiring 50% of the bitcoins in circulation. Not too long ago, cryptocurrency proponents witnessed the Bitcoin (BTC) network’s third halving, which cut the block reward by 50% on May 11, 2020. Just […]

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Chinese Economist Says 2020 is the Tipping Point for Blockchain

Chinese economist says signs have shown 2020 is an important year for integrating blockchain within all industries. The Tencent blockchain accelerator entry contest was held recently in Shenzhen China. Its theme concerned “blockchain industry and ecological co construction”. According to the local news on July 2, Professor Zhu Jiaming, former economist of United Nations Industrial Development Organization and the President of Chinese Digital Assets Research, believes “2020 is an important year for integrating blockchain in different industries, and it is a key period in the development and […]

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Traders Brace for Big Drop as Bitcoin Dips Below $9K for Seventh Time

The price of Bitcoin briefly dropped below $9,000. The weakening of a key support level may lead to a bigger drop. The price of Bitcoin (BTC) dropped below $9,000 in a rapid pullback, falling by 5% in 48 hours. It marked the seventh drop to the $8,000s for the top-ranked cryptocurrency by market capitalization within a span of two months, since early May. Thus, traders have been concerned that repeated drops below $9,000 may weaken a critical support level.  Meanwhile, only $30 million worth of futures contracts […]

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South Korean NGO Announces Blockchain-Based Healthcare Platform

The Commons Foundation unveiled plans to build a blockchain platform to track COVID-19 cases in South Korea. The Commons Foundation, a South Korean non-governmental organization, revealed its plans to develop a blockchain-based platform that aims to handle health epidemics in the wake of the COVID-19 crisis. According to Digital Today, the NGO will rely on blockchain public services to create an epidemiological research system to suit the coming post-coronavirus era. The article quotes a statement from Choi Yong-gwan, chairman of the Commons Foundation, who expressed concerns regarding […]

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Elon Musk Says He Isn’t Building Anything on Ethereum

Tesla’s CEO does not own any Ethereum, but he isn’t against the platform. Tesla’s eccentric CEO and co-founder, Elon Musk directly referenced Ethereum (ETH), saying he is not for or against the network.  “I’m not building anything on ethereum. Not for or against it, just don’t use it or own any,â€� Musk revealed in a July 2 tweet.  The tech mogul responded to a movie star’s crypto tweet Musk’s tweet came in response to a July 2 tweet from movie star William Shatner.  “Cryptonians!â€� Shatner said, addressing […]

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Amazon CEO Bezos Now Has More Money Than Bitcoin’s Market Cap

Jeff Bezos is worth more than all Bitcoin in circulation, but he likely couldn’t buy it all himself. Jeff Bezos, CEO of online shopping giant Amazon, recently tapped record wealth levels, holding more personal wealth than all the speculative capital currently invested in crypto’s largest asset — Bitcoin (BTC).  “Amazon stock shares surged 4.4% to a record $2,878.70 Wednesday, boosting the founder’s world-leading fortune to $171.6 billion,â€� Bloomberg said in a July 1 article. “That tops his previous high of $167.7 billion, set on Sept. 4, 2018, […]

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Venezuela’s Maduro Shafted From Gold Storage, Self-Sovereign BTC Shines

Venezuela’s Maduro just lost a ruling regarding his supposed gold ownership. Venezuela’s allegedly corrupt leader, Nicolás Maduro, recently lost a court battle involving approximately $1 billion of gold.  “The UK High Court has ruled against Venezuela’s government in a legal battle over access to $1bn (£820m) of gold stored in the Bank of England,â€� BBC said in a July 2 article.  As a self-sovereign digital asset, Bitcoin lies outside of centralized control. If Maduro stored that value in Bitcoin, he may still have access to those funds.  […]

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