February 25, 2020

The Bond Market Just Flashed This Nightmare Scenario Warning

February 25, 2020 boss

The benchmark 10-year Treasury yield plunged to record lows on Tuesday. The yield curve inverted again, triggering fears of a looming recession. Stock markets are plunging again, with the Dow Jones Industrial Average falling as much as 400 points. America’s bond market flashed another ominous warning sign on Tuesday, as long-dated Treasury yields plunged below their short-term equivalents in what has become the steepest inversion since October. In other words, investors are flocking to government bonds to shield against economic misery – triggering the market’s most feared recession indicator. Yield…

Caitlin Long Doesn’t Trust Trust Companies

February 25, 2020 boss

Caitlin Long announced yesterday that she is launching Avanti Bank, and seeking a charter for it to become the first bank in the U.S. to offer crypto custody services. Today, in an exclusive interview with Cointelegraph, she elaborated on why trust companies as crypto custodians are insufficient for institutional investors. Long explains “There’s a reason why the big custodians for institutional investors in securities markets are banks – two reasons, actually – 1) unlike trust companies, banks have direct access to the Fed for liquidity purposes, and 2) the treatment…

New Zealand Proposes to Free Crypto From Some Taxes to Promote Growth

February 25, 2020 boss

New Zealand’s tax authority has issued new proposals on the Goods and Services tax (GST)-related policy in regard to cryptocurrencies and is seeking public feedback on the issue. On Feb. 24, New Zealand’s Inland Revenue Department (IRD) released a paper, which includes proposals on the improvement and simplification of tax invoice requirements and exclusion of cryptocurrencies from specific GST provisions. To minimize a distortion in the crypto market The document admits that New Zealand has a fast-growing crypto assets market and expects that most stakeholders will welcome the proposed regulations,…

The Last 3 Times This Signal Appeared, Bitcoin Surged. It Just Appeared Again

February 25, 2020 boss

Bulls can’t seem to catch a break. Bitcoin once again continued to trend lower on Tuesday, falling from $9,550, where it traded at for most of Monday, to prices as low as $9,325 as of the time of this article’s writing. Per data from CoinMarketCap, BTC is now down 3.5% in the past 24 hours. Despite this seemingly endless correction, which began when Bitcoin rejected $10,500, a key technical analysis signal just appeared that may suggest the embattled market is in for a bullish bounce in the near future. Related…

Bitcoin Drops to $9,350 as Dow Jones Falters, But Bulls Are Still Hopeful

February 25, 2020 boss

Over the past few hours, Bitcoin (BTC) has started to tank lower once again, reaching $9,350 just an hour or two ago on some exchanges. The asset has since seen a slight bounce, returning to $9,400. This means that in the past 24 hours, the price of the leading cryptocurrency has fallen by 3.25%, crushed after reaching $10,000 on the weekend for just a brief moment. Bitcoin’s weakness comes amid similar weakness in the traditional stock market, with the leading indices in the Dow Jones, S&P 500, and Nasdaq 100…

Bitcoin (BTC) Drops to $9,350 as Dow Jones Falters, But Bulls Are Still Hopeful

February 25, 2020 boss

ConsenSys Spins Off Health Division to Tackle US Healthcare Issues

February 25, 2020 boss

ConsenSys, the Ethereum-focused company founded by Joseph Lubin, announced on Feb. 25 that it will spin off its health division. The new ConsenSys Health company will develop blockchain use cases to tackle issues in the U.S. healthcare industry. The announcement is part of ConsenSys’ strategy shift of favoring products such as Codefi and Infura, which led the company to spin out several internal projects into independent entities. ConsenSys Health focuses on applying blockchain to the health industry, citing issues such as rising costs and access to care as some of…

Cancel PAX East & GDC 2020 Before Coronavirus Gets Even Worse

February 25, 2020 boss

Companies like Sony and Kojima Productions have pulled out of various gaming events. Some people, such as the mayor of Boston, have accused them of being ruled by fear. Far from scaremongering, these decisions are an act of justified caution. The coronavirus outbreak has been one of the biggest disruptors to the gaming industry in recent memory. Esports events have been canceled. Next-gen consoles launch timelines are under threat. And major brands have begun pulling out of GDC 2020 and PAX East in droves. Iconic companies like Sony and Kojima…

Starkware Wants to Bring Security and Scalability to Crypto Exchanges

February 25, 2020 boss

An Israeli startup Starkware believes it can solve two of the most pressing issues in crypto trading — the inherent vulnerability of centralized exchanges and the low transactional capacity of decentralized ones. The venture was co-founded by professor Eli Ben Sasson, who was a founding scientist for Zcash (ZEC). Besides raising almost $40 million from prominent investors that include Sequoia and Intel Capital, it also received a grant from the Ethereum Foundation. Starkware for exchanges Oren Katz, VP of engineering at Starkware, explained their approach in an exclusive interview to…

Crypto Assets Log Biggest Weekly Loss in Four Months as Coronavirus Fears Spread

February 25, 2020 boss

The combined market cap of crypto assets logged its biggest weekly drop in the last four months as evidence of further global spread of Coronavirus scared investors. Bitcoin and rival cryptocurrencies slipped by up to $20 billion in just two days, beginning the week on an extremely pessimistic note. Almost all the assets that recorded massive gains heading into 2020 corrected deeply, with supersonic Tezos leading the losses with an 8 percent drop. The high-cap cryptocurrencies that went into losses this week also included Ethereum, Bitcoin SV, and Bitcoin Cash…