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Trouble in Defi Paradise: Compound-Issued DAI Surpasses DAI in Circulation
3.7.2020
A number of cryptocurrency proponents have been discussing the stablecoin DAI this week, as the DAI allegedly held on the Compound platform is much larger than what is recorded in circulation. At press time, Compound statistics show there’s $523 million worth of DAI held in reserves, while...
UK Court Denies Maduro Access to $1 Billion of Venezuela’s Gold
3.7.2020
The UK is denying Nicolas Maduro access to Venezuela’s gold worth about $1 billion, stored at the Bank of England. The UK High Court has ruled that the country does not recognize Maduro as president of Venezuela, blocking him from accessing the much-needed gold. England Denies Maduro Access...
Surging ‘Bitcoin Active Supply’ May Point to Coming Rally – Report
3.7.2020
Bitcoin (BTC) may be due for yet another price rally fuelled by a recent increase in on-chain activity on the network, according to a new report from Singapore-based cryptoasset management firm Stack Funds.
The firm explained that it is a strong rise seen in the 90-day “percentage of Bitcoin active...
Crypto Use-Cases in Africa on the Rise, According to Luno
3.7.2020
Twitter and Square CEO, Jack Dorsey recently said “Africa will define the future (especially the Bitcoin one!)” But was he right? Crypto in Africa on the Rise Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where...
Russian Court: Bitcoin Theft Not a Crime
3.7.2020
A Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status for bitcoin. The accused were found guilty, sentenced to prison, and ordered to return only the fiat money stolen — not cryptocurrencies....
Multibillion Investor Doubles Down on Bitcoin Mining
3.7.2020
US-based multibillion investment manager Horizon Kinetics (HK) just doubled down on its Bitcoin (BTC) mining strategy.
After tripling the number of miners it hosts with Core Scientific (CS), a US-based blockchain hosting provider, HK has now agreed to upgrade the miners to the Antminer S19 and...
Bitcoin and Altcoins Retreat From Important Juncture
3.7.2020
Yesterday, bitcoin price traded with a positive bias and was positioned for an upside break towards the USD 9,550 resistance. However, BTC failed to gain bullish momentum above the USD 9,300 resistance, and it declined below USD 9,200 and USD 9,000 before correcting higher.
Similarly, there was...
Mining Company Ebang’s Stock Listed on Nasdaq Down 11%, Firm Plans to Launch Offshore Exchange
3.7.2020
The bitcoin ASIC mining rig manufacturer, Ebang International Holdings, was recently listed on Nasdaq last Friday on June 26. Ebang is now the second mining rig manufacturer to have a U.S. initial public offering (IPO) by selling company shares. Since the initial sale on opening day, Ebang’s...
Demand for Bitcoin Will See a Dramatic Shift in 8 Years – Retail Addresses to Eat up Entire New Supply
2.7.2020
A recent report from ZUBR Research explains that by 2028, retail demand for bitcoin will exceed the 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...
‘Running Drivenet:’ Bitcoin Proponent Discusses the Benefits of Drivechain Versus Lightning Network
2.7.2020
During the last few days, a number of cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain project, also referred to as “Drivenet.” The Drivechain project has been a work in progress for years now, and just recently Sztorc published a new version of the Drivenet...
Bitcoin News Roundup for July 2, 2020
2.7.2020
With traditional markets moving up and BTC sticking to its recent tight trading range, Markets Daily is back with another bitcoin news roundup
Localbitcoins 2019 Revenue Rises 10% to $29.6 Million Amid Increased Paxful Competition
2.7.2020
Peer-to-peer (P2P) crypto exchange Localbitcoins has reported that 2019 revenue rose 10% to $29.6 million from $27 million a year ago. For the year, operating income fell 6% to $19.9 million from $21.2 million the year before. Localbitcoins did not provide detail about net profit. The Finnish...
BitPay Adds SegWit, BlockFi Doubles Revenue, 3 News From Cardano + More
2.7.2020
This is our daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Crypto adoption news
Major crypto payments company BitPay added support for SegWit in their wallet as an optional feature, and enhanced...
$11 Trillion Offshore Assets Uncovered After 100 Countries Share Information on 84 Million Bank Accounts
2.7.2020
Governments in nearly 100 countries have been sharing offshore bank account information in an effort to crack down on tax evasion. Their “Automatic exchange of information” has led to uncovering 10 trillion euros ($11 trillion) in offshore assets in 84 million bank accounts....
More Than 2,500 Merchants In Austria Just Got Closer to Bitcoin
2.7.2020
Crypto owners in Austria have been offered another opportunity to spend their cryptocurrencies throughout the country.
Austrian fintech firm Salamantex has announced that their Crypto Payment Service Software has been integrated into the A1 Payment, a service by one of Austria’s biggest mobile...
Russian Court Denies Theft Victim Access to Stolen Bitcoin
2.7.2020
A Russian court has denied a claimant the right to reclaim almos BTC 100 (USD 920,000), stating that crypto has no legal value – meaning courts are powerless to enforce property rights.
Per a Telegram post from the district court’s press office, in Russia’s second-largest city, St. Petersburg,...
Young Robinhooders Might Be a Driving Force for Bitcoin Market
2.7.2020
While bitcoin (BTC) is struggling to brake that psychologically relevant barrier of USD 10,000, it might be the "bored millennials" turning to platforms like stock trading app Robinhood who might propel the next rally.
Since April 2020, bitcoin hasn't moved outside the USD 8,000-USD...
Retail May Consume 50% of Bitcoin Supply After Next Halving – Report
2.7.2020
Despite all the talk of financial institutions entering bitcoin (BTC), retail demand may in fact end up consuming more than half of all physical supply of bitcoin after the next halving, a new report by crypto derivatives exchange Zubr said.
According to the report, which analyzed data from...
A ‘Significant Increase’: UK Regulator Says 2.6 Million Residents Have Bought Cryptocurrencies
2.7.2020
The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies. The regulator estimates that 2.6 million people in the country have bought cryptocurrencies, most of which were from non-UK...
South Korean Giant to Begin Crypto Custody for Institutional Investors
2.7.2020
One of South Korea’s biggest commercial banks, NongHyup (NH Bank) said it is working on a cryptoasset custodial services platform for institutional investors.
Per ET News, the bank said that it wants to launch crypto “ecosystem” operations, and also spoke of its long-term plans which include...