Day: March 14, 2020

OKEx Announces Elite Trading Team Contest on its Derivatives Product, Offers 150,000 USDT Reward

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The global cryptocurrency spots and derivatives exchange platform, OKEx doesn’t need any introduction. Known for its trading and other cryptocurrency-related products and services, the platform has now started an initiative to encourage and reward its traders. The Elite Trading Team Contest by OKEx offers a chance for traders on the platform to grab a share of the 150,000 USDT reward allocated to be distributed among the best performing individuals and trading teams. The trading contest will begin from March 23, 2020, at 10 AM and go on till 10 AM…

EthCC Paris Attendees Urged to Get Tested After Seventh COVID-19 Case

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The number of attendees of the Ethereum Community Conference (EthCC) conference in Paris to contract coronavirus has now increased to seven — highlighting the urgent need for attendees to get tested for COVID-19. The EthCC conference took place from March 3 until March 5 — just a few days prior to the Macron government banning all public gatherings of more than 1,000 people in France. First confirmed COVID-19 case among EthCC attendees announced on March 11 The first confirmed case among EthCC conference-goers was TorusLabs co-founder, Zhen Yu Yong, who…

Court Backs County for Electricity Price Hike Targeting Crypto Mining

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A Washington court has ruled against one individual and five companies that sued the Grant County Public Utility District No.2 for suddenly creating a new electricity pricing schedule for power consumed by “emerging industries” in December 2018. On March 12, Judge Rosanna Peterson of the U.S. District Court for the Eastern District of Washington found that the plaintiffs were unable to demonstrate that the country violated federal electricity laws. Cryptocurrency mining nearly tripled the annual electricity demand in Grant County The miners first began operating in the county during 2017…

Cryptocurrency News From Japan: March 8-14 in Review

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This week’s headlines from Japan included GMO Coin reporting record transaction volume from February, BitFlyer surpassing 2.5 million users, Tokai Tokyo Securities joining the Japan STO Association, and SBI FX seeking margin trading licensing. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. GMO coins exchange posts record high numbers GMO Coin exchange, a subsidiary of GMO Financial Holdings, reported that February yielded all-time high transaction numbers after the exchange added 4x margin trading to its platform. GMO’s transactions from sales offices, exchange trading,…

‘CovidLock’ Exploits Coronavirus Fears With Bitcoin Ransomware

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Opportunistic hackers are increasingly seeking to dupe victims using websites or applications purporting to provide information or services pertaining to coronavirus. Cybersecurity threat researchers, DomainTools, have identified that the website coronavirusapp.site facilitates the installation of a new ransomware called “CovidLock.” The website prompts its visitors to install an Android application that purportedly tracks updates regarding the spread of COVID-19, claiming to notify users when an individual infected with coronavirus is in their vicinity using heatmap visuals. CovidLock ransomware launches screen lock attack on unwitting victims Despite appearing to display certification…

Bitcoin Price Crashing Due to Coronavirus Fear but Will BTC Hit $2K?

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The price of Bitcoin (BTC) has seen a destructive week, as the price crashed 52% on one single day this week. One of the most massive crashes witnessed since the existence of Bitcoin. Not only has Bitcoin been hitting hard during the week, but equity markets have also seen their worst week since 2008, and other safe havens gold & silver have seen a selloff. Cash is king, is the idea. However, are we continuing dropdowns, or are we temporarily done? Crypto market daily performance. Source: Coin360 Bitcoin drops to…

Robinhood Outages During Historic Price Action Sparks Heated Community Reaction

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“Robinhood, a pioneer of commission-free investing, gives you more ways to make your money work harder.” At least, that’s what is stated on the website of Robinhood, the popular stock and cryptocurrency trading app. However, the app’s recent outages on March 2 and March 9 have shown that fancy words on landing pages are insufficient to make an application reliable — and now, traders are starting to gang up on Robinhood. The reason for this turn of events is that on March 2, Robinhood traders were left unable to complete…

Coronavirus, Upcoming Bitcoin Halving Spell Doom for BTC Miners

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According to a Bloomberg report published on March 13, 2020, Bitcoin (BTC) miners the world over are facing a serious crunch in terms of their profit amid the ongoing slump in the price of the premier cryptocurrency fuelled by fears over COVID-19. Bitcoin Miners Facing the Heat Amid the recent dramatic plunge in the price of BTC which saw its price crash by more than 40 percent in a matter of few hours, the miners of the premier cryptocurrency have more than enough to worry about. In fact, the decline…

Bitcoin Risks Falling to $2,900 if Market is Heading for Long-Term Lower Low

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Bitcoin logged its wildest week for the first time in seven years, plunging by more than 50 percent after a sell-off sparked by the worsening Coronavirus pandemic. The benchmark cryptocurrency on Friday crashed from $8,187 to $3,858 with a matter of 30 minutes. A rebound ensued and took prices up to $5,995. Traders ignored putting bullish positions beyond $6,000, a psychological resistance, which caused a pullback of more than $500 on Saturday. Failure to break above $6,000 had analysts make serious warnings about bitcoin’s imminent future. Prominent analyst Tone Vays…

Bitcoin Miner Stumbles Upon $8M Stash From 2010, Sells Before Crash

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A former Bitcoin miner hobbyist has stumbled on an old wallet containing 1,000 Bitcoins, in addition to many Bitcoin forks. On March 10, a thread was posted to Bitcointalk by a self-described “newbie” making their first return to crypto after a “long hiatus,” seeking advice on accessing an old Bitcoin stash. Former GPU hobbyist miner discovers wallet on a thumb drive The user “whoamisoon” claimed to have mined some Bitcoin “a long time ago” using a GPU and had recently located the wallet.dat file on a USB storage device. The…