Monthly Archives: November 2020

Hashgraph CTO expects blockchain interest to grow even bigger in 2021

We are at the “knee of an exponential curve, said the executive. In an interview with Cointelegraph, Hedera Hashgraph CTO Leemon Baird said that while interest in blockchain greatly increased in 2020, he expects much bigger things to come in 2021. Baird, who holds a doctorate in computer science from Carnegie Mellon University, explained that “the world as a whole looks at this industry as blockchain or DLT and says, ‘wow, there’s really something there.’” He continued, “This year I saw a rapid increase in interest throughout the world. […]

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Layer1 co-founder takes former business partner to court

He claims to have spent millions of his own money, only to be tossed out of the company he co-founded. Jakov Dolic, co-founder of the U.S.-based Bitcoin (BTC) mining company Layer1, has filed a lawsuit against his former business partner, Alexander Liegl. According to court documents filed on October 30, Dolic claimed that Liegl had ultimately failed to raise funds for the company. As a result, Dolic said that he had to pay $16.24 million out of pocket to purchase a power plant for the mining firm. […]

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Investors fight to keep Bancor securities case out of Israeli court

“Defendants say, in passing, that Israel is the more appropriate forum, but fail to provide any supporting detail,” stated lawyers in the class-action suit. Lawyers representing investors for BProtocol Foundation, the parent company of decentralized liquidity network Bancor, are asking for the case against the blockchain firm to be tried in the United States.  According to court records filed Nov. 2 in the U.S. Southern District of New York, lawyers for Timothy C. Holsworth, the lead plaintiff in the class-action lawsuit against BProtocol, argued that the firm’s […]

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South Korean financial watchdog seeks to ban privacy coins within the country

Virtual asset service providers in the country will not be allowed to handle “dark coins.” According to a Nov. 3 announcement from South Korea’s Financial Services Commission, or FSC, virtual asset service providers within the country will no longer be able to handle any digital assets that present a high money laundering risk. These updates were made as part of the guidelines under the Special Payment Act — regulation which specifically covers the legality of cryptocurrencies in South Korea. The FIU specifically called out “dark coins”, which […]

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COVID-19 has spurred more nonprofit organizations to accept crypto

Nonprofit entities could be harnessing an untapped market of supporters simply by allowing crypto donations. Over the past three years, an increasing number of nonprofit organizations have begun to accept crypto-based donations. According to Alex Wilson, co-founder of crypto donation gateway The Giving Block, the COVID-19 pandemic has pushed this trend further than ever before. Pandemic prevention measures began to accelerate in March 2020, resulting in business closures and economic turmoil for many. Businesses and nonprofits alike faced notable losses in revenue once the virus took hold. “Interestingly, […]

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Can Bitcoin hit $17K next? Watch these 3 key BTC price levels

Bitcoin dominance is climbing as altcoins search for a new bottom in what may be the perfect set up for a BTC rally to new all-time highs. Bitcoin (BTC) has been on a tear and there’s no escaping it. But the majority of high-cap altcoins are seemingly suffering at the hands of this bull run, leading to the question: have we had our altseason already? Is it over or is there more to come? Multi-year resistance levels BTC/USD 12-hour chart. Source: TradingView  Bitcoin has been eating up […]

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SEC Changes Rules, Making Fundraising Easier for Crypto Firms

The U.S. Securities and Exchange Commission (SEC) has amended some exemption rules, making it easier for crypto companies to raise funds. The rule changes raise fundraising limits for Regulation Crowdfunding, Regulation A, and Regulation D’s Rule 504 offerings. SEC’s New Rules Allow Crypto Companies to Raise More Money The SEC announced Monday that it has amended some rules pertaining to several exemptions. Among other changes, the regulator has increased “the offering limits for Regulation A, Regulation Crowdfunding, and Rule 504 offerings” and has revised “certain individual investment […]

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How Do Seasonal Fluctuations Really Affect Bitcoin Mining?

There has been much ado made recently over supposed seasonal mining fluctuations on the Bitcoin network.  The narrative goes that, as the rainy season in China comes to a halt around the August to October timeframe each year, cheap and abundant hydroelectricity dries up. This forces many inefficient late-model miners to shut off or move elsewhere to find more affordable, accessible energy — creating migratory or nomadic miners, if you will.  The narrative also claims that the network sees a significant drop in hash rate and difficulty […]

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Corporate giants may not follow MicroStrategy’s Bitcoin adoption play, Raoul Pal explains

Communication is key, especially when it comes to explaining Bitcoin to mainstream corporate entities. Earlier this year, business intelligence giant MicroStrategy put $425 million of its treasury funds into Bitcoin (BTC). The move was largely seen as a big step in the right direction for mainstream Bitcoin adoption. MicroStrategy, with its CEO and founder Michael Saylor, a Bitcoin skeptic-turned bull, may not usher in massive corporate adoption for crypto’s pioneering asset, however, according to former hedge funder Raoul Pal.  “I don’t think Michael is going to drive […]

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Bitcoin whales tread water and hodl despite recent BTC price drop

Various on-chain data shows that Bitcoin whales are holding onto their funds and have little interest in selling in the short term. The price of Bitcoin (BTC) is experiencing a volatile time. After achieving $14,100 for the first time since 2017, a sharp pullback followed. Yet, key on-chain data and whale clusters show that high-net-worth individual investors are holding onto their positions. This trend shows that whales are not expecting a major pullback in the near term. A low level of activity from whales is a positive […]

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