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Petro-Dollar System Crumbles: US Dollar Could Collapse from the World’s Oil Wars
22.4.2020
During the last few days, people witnessed history when the price of crude oil dropped below zero to -$40 per barrel, and as time passes many analysts think the worst is yet to come. After West Texas Intermediate (WTI) oil-based contracts dried up for May, contracts for June collapsed by 45%....
Bitcoin News Roundup for April 22, 2020
22.4.2020
Bitcoin reacts to stimulus packages and the UK bails out big tech. It's CoinDesk's Markets Daily podcast
Ripple Sues Youtube For Allowing Scams That Promised Returns Up to $1 Million
22.4.2020
Ripple is suing Youtube, accusing the video platform of not doing enough to eliminate crypto-related “giveaway” scams. The payment network wants to force Youtube to protect its users from such scams. Some scammers promise returns up to 5 million XRP or about $930,000 at current prices...
Bitcoin ‘Stuck in the System’ Until Merchant Adoption Grows
22.4.2020
Although holders of both bitcoin (BTC) and gold are often motivated by an idea of investing in assets that are outside of the financial system, it might not be the case, according to a popular macro strategist who believes that that the next world reserve currency will be “a crypto.”
Speaking with...
JPMorgan, Bank of America, Wells Fargo Sued Over Trump’s Paycheck Protection Program
22.4.2020
Class action lawsuits have been filed against JPMorgan Chase, Bank of America, Wells Fargo, and U.S. Bank for their alleged unlawful and fraudulent practices in the Paycheck Protection Program. This program is part of President Trump’s $2.2 trillion stimulus package to help small businesses...
Bitcoin And Altcoins Positioning To Resume Uptrend
22.4.2020
After a short term downside correction, bitcoin price found support above USD 6,750. Recently, BTC/USD consolidated in a range above USD 6,800 and it seems like the bulls are now preparing for an upward move towards the USD 7,050 and USD 7,200 resistance levels.
Similarly, there are positive signs...
Central Bank Says CBDC Could Learn From Bitcoin, Rejects Decentralization
22.4.2020
The move from fiat currencies to new central bank digital currencies appears to be gaining traction, as one of Europe’s biggest central banks admitted that (unspecified) parts of Bitcoin’s underlying technology could be used in creating a new type of currency.
The paper, which was written by...
Stablecoins and Crosschain Loans: 2 Projects Attempt to Bring Defi Solutions to Bitcoin
22.4.2020
While decentralized finance (defi) solutions have grown popular on the Ethereum blockchain, developers have recently created similar systems by leveraging BTC’s network. A project called Atomic Loans claims to offer a noncustodial bitcoin-backed stablecoin solution, while Money on chain a...
Consensys Cuts Hundreds of Jobs This Year – About 25% of Its Staff Slashed
22.4.2020
Ethereum-based company Consensys has cut hundreds of jobs since January. In its latest action, the US-based blockchain development team confirmed it will slash more than 90 jobs – or 14% of its workforce – citing the global impact of Covid-19. The decision comes after a virtual town...
Bitcoin Halving Searches Surge – Phrase Touches Google Trends All-Time High
21.4.2020
The notorious bitcoin halving is expected to happen in 20 days either on or around May 12, 2020. The anticipation leading up to the event is at an all-time high, as last week worldwide queries for the phrase “bitcoin halving” using Google peaked with a top score of 100. On Tuesday...
Zcash Foundation Cuts Q1 Spending 17% to $2.7 Million – ZEC Tanks 9% in 24 Hours
21.4.2020
The Zcash Foundation cut spending by 17% during the first three months of this year due to Covid-19 pressures. In its first-quarter report, the foundation said it spent only $2.68 million from an initial budget of $3.24 million. The report says: Our budget reduction primarily stems from cancelling...
Bitcoin News Roundup for April 21, 2020
21.4.2020
Bitcoin drops thanks to the oil crisis while a hacker returns $25 million in stolen crypto. It's CoinDesk's Markets Daily podcast
Federal Reserve Index: The US Is Already in Recession
21.4.2020
The Federal Reserve Bank of Chicago’s monthly index has plunged, suggesting that the U.S. has entered a recession. The index is designed to gauge the overall U.S. economic activity and inflationary pressure. It is a weighted average of 85 monthly indicators. Fed Index Suggests the US Already...
Japanese Analyst Says Traditional Investors Will Come Flocking to Crypto
21.4.2020
A Japanese analyst says that institutional investors are growing increasingly crypto-keen – and believes that the coronavirus pandemic will only serve to heighten their interest.
Per Fisco, via Gentosha, popular Japanese blockchain and crypto author and analyst Tetsuyuki Oishi says that...
Coinmama Appoints Unicorn IronSource GM Sagi Bakshi as CEO
21.4.2020
Unicorn startup IronSource’s general manager, Sagi Bakshi, has joined cryptocurrency exchange Coinmama as CEO, saying he believes that the future of money is Bitcoin. Since 2013, Coinmama has been at the forefront of the financial revolution, working to simplify the way the world does crypto....
After Pundits Predicted Bitcoin’s Death for 11 Years, Barrels of Crude Oil Trade Below Zero
21.4.2020
Global markets had a historical day on Monday, as the price of oil dropped below zero and closed the day at -$36 per barrel of crude. The oil crash below zero has never happened in anyone’s lifetime and economists worldwide are uncertain about the future of the world’s financial system...
Bond Yields Nearing Zero Offer Support to Bitcoin - Analyst
21.4.2020
While some analysts now point out that bitcoin (BTC) is looking somewhat weak from a charting standpoint, others are painting a bullish picture for bitcoin, with lower bond yields and a weak stock market, leading investors to look for alternatives outside of the financial system.
Among the many...
Bitcoin And Altcoins Flirt With Key Supports Amid Sell-off
21.4.2020
After struggling to surpass the USD 7,200 resistance, bitcoin price started a downside correction. BTC/USD broke the USD 7,000 support and it is currently struggling to stay above USD 6,850. Any further losses may perhaps push the price towards the key USD 6,550 support zone.
Similarly, there was...
Mining Difficulty Might Reach All-Time High Before Bitcoin Halving
21.4.2020
Bitcoin (BTC) mining difficulty just saw its biggest rise in six months and it's estimated it'll reach an all-time high in two weeks.
Bitcoin mining difficulty, a measure showing how hard it is to compete for mining rewards, just went through another adjustment, and the numbers were close to what...
CFTC Approves New Cryptocurrency Derivatives Platform — Bitnomial to Offer Regulated Bitcoin Futures
21.4.2020
The U.S. Commodity Futures Trading Commission (CFTC) has approved a new bitcoin derivatives trading platform. Bitnomial Exchange will list margined and physically delivered bitcoin futures and options. Besides Bitnomial, the CFTC has only approved a handful of other platforms to offer bitcoin...