Monthly Archives: October 2020

ECB to consider further digital euro study in 2021

The report is only the start of the discussion and raises more questions before officially studying the digital euro. The European Central Bank (ECB) could begin seriously considering and studying the digital euro by mid-2021, the bank said in a report released Oct. 2.  The report examined how a digital euro may impact retail payments and how it can protect payments in the future. It also looks at how virtual currencies could fit within the landscape of the entire Eurosystem. However, it does not specify what model […]

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Top 5 cryptocurrencies to watch this week: BTC, ADA, XMR, ATOM, VET

Bitcoin could consolidate for a few more days but select altcoins have formed reversal patterns that may lead to a trending move. Investors are concerned about the stability of the cryptocurrency market after it was faced with a flurry of adverse news in the past few days. Fortunately, the markets have matured to the extent that negative news no longer provokes wild price swings like they once did in crypto’s early days. The current stability shows that institutional investors do not consider the recent KuCoin hack, CFTC […]

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BitMEX charges, Bitcoin stays calm, KuCoin ‘identifies’ hack suspects: Hodler’s Digest, Sept. 28–Oct. 4

The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link! Coming every Sunday, Hodlers Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   CFTC charges BitMEX with illegally operating derivatives exchange The U.S. Commodity Futures Trading Commission has charged the derivatives exchange BitMEX with operating an unregistered trading platform and violating Anti-Money Laundering regulations. A civil enforcement action has been filed […]

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Former EU Parliament Member Godfrey Bloom Who Calls Banking System a Scam Bought His First Bitcoin

Former Member of the European Parliament Godfrey Bloom has bought his first bitcoin. The British politician is famed for numerous controversial views, such as calling the entire banking system a scam and the state an institution of theft. Godfrey Bloom Now Owns Bitcoin Godfrey Bloom is a British politician who served as a Member of the European Parliament (MEP) for Yorkshire and the Humber from 2004 to 2014. He was elected for the U.K. Independence Party but later served as an Independent. Bloom has also published six […]

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Bitcoin use rise in Egypt amid economic recession

People continue to turn to Bitcoin and other cryptocurrencies to boost their profits even amid a pandemic. As the COVID-19 pandemic pushed the Egyptian economy into recession and deepening unemployment, more and more Egyptians see the benefits of trading and mining Bitcoin as an alternative source of income. According to Al-Monitor, many Egyptians, particularly young people, are interested in cryptocurrencies. Wael al-Nahhas, an economist and financial advisor to several investment institutions in Egypt, said: “Many young Egyptians started investing in small amounts despite the increase in the […]

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Why traders expect ‘boring’ Bitcoin and altcoin price action until 2021

Traders expect a slow Q4 for Bitcoin and altcoins, especially as BTC’s dominance rate begins to climb higher. Bitcoin (BTC) price has been stuck in a range for weeks now but traders generally expect a slow fourth quarter for the top-ranked digital asset. Bitcoin quarterly returns (%). Source: Skew.com In 2018 and 2019 Q4 closed net negative, injecting a bit of bearish sentiment into the market. In the near term, a boring Q4 of further downside from Bitcoin price could cause altcoin prices to dump further. At […]

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Officials voiced privacy concerns over China’s blockchain-powered hospital

Despite pushing for greater blockchain implementation, privacy was a sticking point for some officials. China’s first blockchain-powered hospital is set to launch sometime in 2021, but some government officials voiced concerns over data security.  According to Cn-Healthcare, the First Affiliated Hospital of Dalian Medical University will launch a pilot program by January 2021 as blockchain integration is still incomplete. The hospital will use the blockchain to store patient and treatment information. The operators also said that such a blockchain-powered platform will allow patients to access the so-called […]

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SEC versus Kik: SAFTs are far from safe

SEC v. Kik doesn’t have to be game-over for Kik or SAFTs. In fact, the decision is perhaps more favorable than the SEC v. Telegram order. On the last day of September 2020, Judge Alvin K. Hellerstein dashed the hopes of Kik Interactive, crypto entrepreneurs and Simple Agreement for Future Tokens, or SAFT, proponents in general by ruling in favor of the U.S. Securities Exchange Commission’s motion for summary judgment in SEC v. Kik Interactive.  The case was instigated by the SEC in June 2019 when the […]

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Stablecoin Supply Doubles in 3 Months as Combined Market Cap Surpasses $20B

2020 has been the year of stablecoins, as the token supply has doubled in the last three months. The aggregate market capitalization of 28 stablecoins captures over $20 billion on October 4, 2020. While tether still dominates the stablecoin ranks, USDC has been moving closer toward the top ten crypto coins. USDC is also the only stablecoin with market capitalization greater than $1 billion other than tether. This year quite a bit of money has flown into the stablecoin economy and just recently all the stablecoin tokens […]

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Emerging technologies can change the African financial landscape

The ease and convenience of services backed with the emerging techs can dramatically improve the financial landscape in Africa. Africa is the home to 1.2 billion people and what has been described as the world’s largest trade area — the African Continental Free Trade Area. Africa is forging a new path to driving development, and access to financial services will play a significant role in its economic growth. The need to provide improved systems for poverty reduction, if not alleviation, is further accentuated when one considers that […]

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