Monthly Archives: October 2020

Chasing the hottest trends in crypto, the EU works to rein in stablecoins and DeFi

The proposed EU crypto market regulation will raise many compliance obstacles for the next Libra-like project seeking to operate in Europe. In cryptoland, the fall tends to be regulators’ open season. As unprecedented as it’s been, 2020 is no exception to this trend. Tensions are high on both sides of the Atlantic: As markets were still processing the news of the United States Commodity Futures Trading Commission cracking down on derivatives exchange platform BitMEX, the Financial Conduct Authority, the British financial watchdog, moved to ban retail investors […]

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Bitcoin Adoption Soars in Turkey Amid High Inflation, Lira Hitting Record Low

People in Turkey are increasingly turning to bitcoin as the local currency, the Turkish lira, recently hit another record low against the dollar. Bitcoin adoption in Turkey outshines other countries in the region. Turkey Is Regional Leader in Bitcoin Adoption Bitcoin adoption has been increasing in Turkey as the local currency, the Turkish lira, hit another record low Thursday, reportedly touching 7.95 to the dollar. The dollar has gained about 33% against the lira so far this year and some analysts are predicting that it will soon […]

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Former patrons can’t drown sorrows as first-ever bar to accept Bitcoin closes

A legendary Berlin-based watering hole and Bitcoin hub closes down A legendary bar and restaurant in Germany that was reportedly the first to ever accept cryptocurrency as a form of payment has permanently closed. According to an Oct. 18 Reddit post from Joerg Platzer, founder of Room 77, the first brick-and-mortar business to accept Bitcoin (BTC) is no longer accepting customers and has shuttered its doors. In a goodbye message riddled with references to Douglas Adams’ The Hitchhiker’s Guide to the Galaxy, Platzer said “thanks again for […]

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With job listing, Canada’s central bank takes additional steps towards a CBDC

The winning candidate’s primary task will be to monitor the latest developments related to electronic money, but also research “the development of a CBDC” The Bank of Canada is looking to hire an economist who has a deep knowledge of financial technology and digital currencies, potentially signaling the latest in a series of steps towards a Canadian Central Bank Digital Currency (CBDC).  According to the bank’s official page, the economist’s duties will be to monitor and analyze the latest developments related to electronic funds and payments, implement […]

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Top 5 cryptocurrencies to watch this week: BTC, XLM, CRO, BNB, LTC

Traders are accumulating Bitcoin on dips and a break above $11,600 could resume the uptrend to $12,000. Data from Skew shows Bitcoin’s (BTC) spot volume on LMAX Digital, an exchange that mainly caters to institutions, has overtaken retail-oriented exchanges. This signals that institutional investors could be building up positions as they expect the price to move higher in the future. Along with spot purchases, institutional investors’ participation in the derivatives market has also increased. Data from Arcane Research shows that a record number of investors are taking […]

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48-Hour Stimulus Deadline: US Lawmakers Race to Approve Second Stimulus Checks Before Election

Amid the intense stimulus relief aid discussion, House Speaker Nancy Pelosi has set a deadline for the White House to come to an agreement on the next stimulus package which provides a second round of stimulus checks for Americans. Meanwhile, the Senate is set to vote on a smaller stimulus bill without direct payments this week. Deadline for Stimulus Negotiations Stimulus packages to help Americans cope with the coronavirus-driven economic crisis have been heavily discussed this week as U.S. lawmakers hope to approve new relief aid before […]

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Bitcoin rips and cruise ships: Bad crypto news of the week

Check out this week’s Bad Crypto podcast. It’s been a good week for the crypto markets. Bitcoin finally burst through the $11,000 ceiling, and kept going. According to some experts, the coin could be on its way to a full 2017-style bull run. Other analysts have identified five events that could move the markets this week, including the election’s effect on the dollar, Europe’s struggles with Brexit and the coronavirus, and Bitcoin’s high hash rate. The investment experts at Stone Ridge Asset Management have been paying attention. […]

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Fool’s gold? Peter Schiff’s bank under investigation in tax evasion probe

Does an extortion attempt from Russian hackers explain Schiff’s hatred for Bitcoin? This morning, millionaire broker and noted Bitcoin skeptic Peter Schiff awoke to find his bank under renewed scrutiny due to an international criminal investigation.  According to reporting from Australian newspaper The Age and The New York Times, the J5 — a joint task force of tax authorities from major Western governments convened in the wake of the bombshell publication of the Panama Papers — have placed “hundreds” of accounts at Schiff’s Puerto Rico-based Euro Pacific […]

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Closing the gap: The effect of CME Bitcoin futures on Bitcoin price

Although CME’s Bitcoin futures trading products do not deal in actual Bitcoin, they indirectly affect the open market price. The price of one actual Bitcoin on the open crypto market, known as spot BTC, fluctuates based on a countless number of factors, such as trading volume, usage and adoption. However, other catalysts affect the asset in a roundabout manner. Cash-settled Bitcoin futures trading products from the Chicago Mercantile Exchange stand as one arguable highly referenced indirect element contributing to Bitcoin’s (BTC) price direction.  “The Bitcoin derivative products […]

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Getting the story straight: Blockchain to curb fake news

Rather than responding to existing fake news, this solution prevents imposters, a type of fake news story that appears to be from a legitimate news agency. With the United States Presidential Election set for next month, the concern over fake news has once again dominated public discourse. Fake news — the deliberate spreading of verifiably false information under the disguise of being an authentic news story ­— not only undermines the public’s confidence in the free press, it inflames social conflict, can result in health hazards (like […]

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