Monthly Archives: September 2020

DeFi mainstreaming impossible until DEXs integrate layer 2, experts say

DeFi is booming again but experts caution that mainstreaming won’t occur without decentralized exchanges integrating layer 2 options. The rapid growth of the decentralized finance sector (DeFi) took a shock after the recent 17.5% drop in Bitcoin (BTC) price. However, it is likely that the DeFi sector will continue to grow as Bitcoin recovers, especially as users continue to look for high-yield strategies as a means to earn interest on their Bitcoin and crypto holdings. If the sector continues to grow as it did in the first […]

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Gemini to accept deposits in PAX Gold, Amp and Compound

More listings ahead. Crypto exchange Gemini will begin accepting deposits in PAX Gold (PAXG), Amp (AMP) and Compound (COMP) with trading to start Sept. 15. Gemini will offer US dollar trading pairs for PAXG, AMP, and COMP via its ActiveTrader platform and API connections. The exchange will also offer trading and custody support for 12 cryptos and custody for 13 cryptos. Gemini co-founder Tyler Winklevoss tweeted the addition of PAXG, COMP and AMP shows the exchange’s commitment to DeFi. The #DeFi revolution is upon us. @Gemini is […]

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Bitcoin’s obituary and a Starbucks blockchain: Bad crypto news of the week

Check out this week’s Bad Crypto podcast. It’s been a tough week for Bitcoin. The price has fallen more than 8 percent and dipped below $10,000 on three consecutive days. Analyst Willy Woo, though, thinks it’s all looking good. He believes that on-chain indicators, such as the NVT ratio, suggest a bullish outlook, while Su Zhu of Three Arrows Capital believes that a surge to $100,000 is more likely than a fall to $5,000. The son of gold investor and Bitcoin critic Peter Schiff is convinced. The […]

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US Sanctions Russians Allegedly Using Cryptocurrency to Influence Presidential Election

The U.S. has sanctioned several Russian nationals, a Ukrainian lawmaker, and their cryptocurrency addresses for interfering with the country’s electoral process. The Russians are allegedly employees of a troll factory that previously targeted presidential candidates. Operations to Interfere With U.S. Elections The U.S. Department of the Treasury announced Thursday that its Office of Foreign Assets Control (OFAC) has “designated four Russia-linked individuals for attempting to influence the U.S. electoral process.” The Treasury alleges that “Russia uses a variety of proxies to attempt to sow discord between political […]

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Tokenized whiskey fund buys first 1,000 barrels of Kentucky bourbon

That’s a lot of whiskey gingers. A fund launched in March with the aim of tokenizing up to $20 million worth of whiskey has announced its first successful investment round and the purchase of its first tranche of Kentucky bourbon. Wave Financial Group announced Sept. 11 that its Kentucky Whiskey 2020 Digital Fund had bought an initial 1,000 barrels from the Wilderness Trails distillery. Investors are expected to benefit from the spirit’s price appreciation during the aging process of around five to six years. As Cointelegraph previously […]

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Bitcoin whale cluster at $10,570 is the most important level right now

Bitcoin whale clusters show major resistance levels are at $10,570 and $11,288, raising the chances of a major sell-off. According to Whalemap, an on-chain analysis firm that focuses on Bitcoin (BTC) whale activity, short-term clusters are present at $10,570. Whale clusters are shown at $10,570 and $11,288 for Bitcoin. Source: Whalemap Whale clusters form when whales accumulate Bitcoin and do not move the BTC. Areas that have large amounts of unspent BTC become an area of interest, typically a resistance level. Analysts at Whalemap explain: “Bubbles show […]

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Renault tests blockchain platform for parts compliance

No, the blockchain is not in your car. Luxury carmaker Groupe Renault tested its blockchain project aimed to ease compliance certification of vehicle components.  The project, Extended Compliance End-to-End Distributed, or better known as XCEED, grew out of Renault’s partnership with other companies to develop a blockchain supply-chain solution by sharing data. It’s built on the Hyperledger Fabric network and deployed in collaboration with IBM. XCEED tracks and certifies regulatory compliance of vehicle components.  Renault tested XCEED in its Douai plant and processed over a million documents […]

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A Malaysian company is developing a blockchain-based app for charities

Blockchain for doing good. Malaysia-based company IBF Net said it is seeking to implement blockchain technology in Islamic charities. According to a press release on its blog, blockchain technology will enhance the confidence of existing donors. It will also encourage new donors to give their zakat, a payment made under Islamic law for charitable giving, and sadaqah, or voluntary charity. The product, called RecurPay, will be on the Tezos platform and facilitate recurring and automatic small payments.  IBF Net said blockchain technology would create a framework that […]

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Why we need evolutionary, not revolutionary, regulatory initiatives

Clearing regulatory hurdles is important for forward-leaning jurisdictions that aim to attract the most innovative firms. This July, Luxembourg — the world’s second-largest domicile for investment funds behind the United States — submitted a draft law updating a law from March 1, 2019 that allowed for the registration and transfer of securities by custodians. With this draft law, issuance itself can be based on distributed ledger technology, thereby introducing truly dematerialized DLT or blockchain-based securities. Furthermore, a central “issuance account” keeper (transfer agent) is required to assume […]

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Huge ‘Bitcoin Tram’ Ad Campaign and 20 Billboards Flood Hong Kong’s Financial District

A massive Bitcoin ad campaign has launched in the heart of Hong Kong’s financial district, featuring three Bitcoin trams and 20 matching billboards. It is a community initiative coordinated by the Bitcoin Association of Hong Kong, an organization with more than 5,000 members. The Bitcoin Tram Campaign The Bitcoin Association of Hong Kong announced Friday the start of a massive bitcoin awareness initiative called the Bitcoin Tram campaign. Various ads are scheduled to run between Sept. 11 and Oct. 8. During that time, three doubledecker bitcoin trams […]

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