Day: February 16, 2020

Privacy Laws Are Only as Effective as the Companies Implementing Them

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Privacy is a hot topic for legislators all over the world. Democractic presidential candidates have privacy laws and regulations in their campaign platforms. Amy Klobuchar discussed a tax on companies who share user data. Elizabeth Warren has introduced legislation that considers the idea of jail time for CEOs over privacy failures. Before he dropped out of the race, John Delaney proposed the U.S. adopt a law similar to the California Consumer Privacy Act, which gives greater agency to consumers when it comes to limiting companies collecting of their data.  Voters…

Binance Set to Launch NEO/USDT Futures With Up to 50x Leverage

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Major cryptocurrency exchange Binance announced that it is about to launch a new futures product tracking crypto asset NEO. Per the announcement published on Feb. 16, the NEO/USDT futures will be launched on Feb. 17 and traders will be able to select leverage between 1x and 50x. The fees that the exchange imposes on trades of the contract in question are a 2% base initial margin rate, 1% base maintenance margin rate and a 0.5% liquidation fee. What is NEO? The Binance information page dedicated to NEO explains that it…

It’s No Accident That We’re Obsessed with Parasite & BTS

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South Korea has been trying to become the world’s leading exporter of popular culture. The country’s “soft power” in the global community is increasing at a stratospheric pace. The rapid development of K-culture is helping the government generate immense profits. The South Korean entertainment industry cannot be stopped. Bands like BTS and movies like “Parasite” are capturing audiences worldwide. Bong Joon-ho’s “Parasite” made history last Sunday, winning four Oscars. It became the first non-English language film to win the Academy Award for best picture. That shouldn’t surprise you. Millions of people…

Coronavirus Massacred its Economy – but China’s Still Lying About it

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China says coronavirus doesn’t threaten the Chinese economy. But it already tried to hide the seriousness of the epidemic itself. Three reasons China’s government is also being dishonest about this: 1 – It’s taking desperate measures to fight the disease. 2 – And drastic action to brace its economy. 3 – China’s stock market is crashing. China’s Foreign Minister denied any major risks to China’s economy Saturday: The Chinese economy is well-positioned to overcome all risks and challenges. The fundamentals sustaining sound economic growth have not changed and will not…

Coronavirus Massacred its Economy – but China’s Still Lying About it

boss

China says coronavirus doesn’t threaten the Chinese economy. But it already tried to hide the seriousness of the epidemic itself. Three reasons China’s government is also being dishonest about this: 1 – It’s taking desperate measures to fight the disease. 2 – And drastic action to brace its economy. 3 – China’s stock market is crashing. China’s Foreign Minister denied any major risks to China’s economy Saturday: The Chinese economy is well-positioned to overcome all risks and challenges. The fundamentals sustaining sound economic growth have not changed and will not…

Manchester City’s European Ban Finally Caught Up With Their Arrogance

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English Premier League champions Manchester City have been suspended from European football for the next two years and fined $32.6 million. The Manchester club plan to appeal to the Court of Arbitration for Sport. Will manager Pep Guardiola remain at the club with no European football for two years? I admit to a feeling of shock when news of the European ban and fine to Manchester City filtered out. The severity of the punishment doesn’t surprise me. That UEFA had the nerve to follow through and properly punish one of…

MoneyGram Reveals Real-Time Remittance Tech, Based on Visa not Ripple

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Remittances giant MoneyGram announced a new service allowing real-time money sending, but the solutions of its blockchain partner Ripple are not involved. MoneyGram recently announced FastSend, a new service that allows its customers to send money in real-time to a phone number via a dedicated website or mobile application. Still, the firm’s answers to Cointelegraph’s inquiries revealed that surprisingly MoneyGram’s latest product does not make use of Ripple’s technology. You don’t need blockchain for real-time settlements Kamila Chytil, MoneyGram Chief Operating Officer explained to Cointelegraph that FastSend uses Visa’s Direct…

Mind the Gap: Why ETH Price and DeFi Adoption Aren’t in Sync

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In his 1991 book, “Crossing the Chasm,” management consultant Geoffrey Moore defined a crucial gap between the early adopters of a new technology and the larger populations of users that come later. Decentralized finance (DeFi) may now be approaching a gap of its own.  This article focuses on DeFi services that allow deposits of ether (ETH), ethereum’s native asset, as collateral for loans issued in a dollar-pegged stablecoin, DAI. Lending is decentralized to the extent it is managed by an open network of participants, governed by rules and incentives established…

Howdy Modi! President Trump Lands Death Blow Ahead of Indian Summer

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The Trump administration declared India a developed country, which means it will lose all the benefits it used to receive under the Generalized System of Preferences scheme. India’s Prime Minister Narendra Modi was planning to turn the country into a $5 trillion economy by 2024. The Trump administration’s decision delivered a deathblow to those plans. The threat of coronavirus and a slowing economy are looming large over India. Earlier this week, the United States Trade Representatives (USTR) classified India as a ‘developed nation’. This means India will not receive any…

Bitcoin Price Drop Nets Bitfinex ‘Whale’ $10 Million in 5 Minutes

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Late Saturday night on Feb. 15, Bitcoin (BTC) price briefly reclaimed the $10K mark after a tumultuous day of trading that saw the price drop 5.35% to $9,853. The possibility of a downside break was enhanced by Bitcoin’s failure to hold above $10,330 and for the past 4 days $10,450 to $10,500 served as a stiff zone of resistance.  According to data from Skew Analytics, the swift 5.35% drop resulted in $90 million worth of liquidated leveraged positions at BitMex.  BitMEX XBTUSD Liquidations. Source: Skew.com Bitfinex whale recovers $10M in…