Day: March 5, 2020

Bitcoin Legal in India: Exchanges Resume INR Banking Service After Supreme Court Verdict Allows Cryptocurrency

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Indian cryptocurrency exchanges are bringing back banking support after the Supreme Court of India struck down the banking ban on the crypto industry. News.Bitcoin.com talked to several crypto exchange executives to find out the effects of the supreme court ruling and what their exchanges plan to offer users now that the banking ban has been removed. Also read: Indian Supreme Court Rules in Favor of Cryptocurrency — RBI Ban Lifted Supreme Court Verdict on Cryptocurrency After almost two years, the Indian crypto community finally won the battle against the Reserve…

Italy’s Coronavirus Crisis Plunges Broken Economy Into Recession Spiral

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A recession hit Italy in 2018 after the country saw a 0.2% quarterly drop in economic growth. It is at risk of a greater recession due to the coronavirus outbreak. The local manufacturing sector is en route to see 18th consecutive negative month. Italy entered a recession in the last quarter of 2018, with a 0.2% drop in the economy. As it started to recover, the coronavirus epidemic hit the nation, leading finance ministers in Europe to warn a plunge in the markets in the coming months. The eurozone has…

Chainlink and DAPP Network: Opposing Projects with Aligned Aims

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On the face of it, there aren’t many obvious similarities between Chainlink and LiquidApps’ DAPP Network. The former is an oracle solution focused on enhancing the Ethereum network, while DAPP Network is primarily EOS-based, and is designed to address broader problems than mere oracles; scaling, resource allocation and dApp user onboarding are among its many features. Dig a little deeper, however, and one is struck by the similarities between the projects, not just in their approach to building, but in their vociferous communities that have elevated these once tiny projects…

XRP Army Exposer Sues Twitter for Account Suspension

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Data scientist Geoff Golberg has sued Twitter for banning his account after he used insulting language toward a bot.  Golberg, the co-founder of blockchain analytics company Elementus and an academic at the University of Colorado, was banned from Twitter on July 29, 2019, for engaging in “abusive behavior.”  In the lawsuit, Golberg emphasizes that the very existence of the inauthentic account violated Twitter’s terms of service. He states he was banned for using the words “idiot” and “moron” specifically. The case was prepared by crypto legal veterans Stephen Palley and…

Xbox Lands PlayStation Punch by Poaching Senior God of War Designer

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Dean Rymer, a senior combat designer on PS4 exclusive God of War, has joined Microsoft owned developer inXile development. Rymer isn’t the first former God of War developer to join an Xbox development team. Xbox is heavily ramping up its fight against PlayStation as it gets closer to the Xbox Series X and PS5 launch. On Twitter, God of War senior combat designer Dean Rymer confirmed that he had celebrated his first day as the new lead combat designer of inXile Entertainment. InXile Entertainment has been owned by Microsoft since…

EY, Microsoft and ConsenSys Launch Enterprise Platform on Ethereum Mainnet

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Global taxation and transaction advisory firm EY have announced the launch of their open-source Baseline protocol.  Baseline comprises a smart contract and tokenization platform built for enterprises on top of the Ethereum blockchain. Baseline was founded by EY in partnership with Microsoft and ConsenSys, and was developed in collaboration with many companies operating in the cryptocurrency sector, including Chainlink, MakerDAO, Unibright and AMD. The platform’s code has been made available to select entities by invitation and will see a public release before April.  Baseline features zero-knowledge proofs and off-chain storage…

BitGo Reveals Bitcoin Lending Push; $150M Booked So Far

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BitGo, one of the largest and oldest custodians for digital assets, is joining the fast-growing business of lending out bitcoin and other cryptocurrencies to big investors. The Palo Alto-based company announced Thursday it is now offering institutional digital asset lending services.  Founded in 2013 by CEO Mike Belshe, BitGo started testing the new service a few months ago to big investors and has already racked up about $150 million in open loans, according to Nick Carni, a former Deutsche Bank executive who is overseeing the effort as BitGo’s head of…

Bitcoin Price Climbing Back to $9K — Here’s the Key Level to Break

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Since making a strong attempt at reclaiming the $9K mark at the start of the month, Bitcoin (BTC) price has pulled back slightly but now trades in a tightening range between $8,662 and $8,946. The digital asset is attempting to retake $9K but continuously receives pushback at $8,969.  The total crypto market cap chart shows that purchasing volume has ground to a halt and is yet to recover from the onslaught of last week. As shown below, the total market cap found support at $236.9 billion where there is a…

Coronavirus May be 70% Deadlier Than Originally Feared: WHO

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The coronavirus has grown to infect over 90,000 with hotspots developing in South Korea, Italy, and Iran. According to the WHO, the disease is 70% more fatal than previously expected. 3.4% of patients are expected to die from the virus. Health agencies around the globe are beginning to offer contradictory data about Covid-19. The WHO’s data conflicts with earlier research from China’s CDC. WHO director Tedros Ghebreyesus this week revealed that Covid-19 has a fatality rate of 3.4% — a full 70% higher than the previously believed figure of 2.3%.…

Bitcoin Bullish Reversal Held Off As Bulls Fail To Defeat $9k Resistance

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Bitcoin is slowly gaining bullish momentum above $8,800 against the US Dollar. BTC price must settle above the $9,000 barrier to start a convincing rally towards $9,500. Bitcoin is showing positive signs above the $8,800 resistance area against the US Dollar. The price remains well supported on dips near the $8,840 and $8,780 levels. There is a major bullish trend line forming with support near $8,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a massive upward move once it clears the…