Maker Foundation Rejects Accusations of Participation in Its Debt Auctions

MakerDAO (MKR) has denied accusations that the Maker Foundation placed the winning bids in all of its recent debt auctions. In a statement shared with Cointelegraph, the Maker Foundation states that it “is not purchasing MKR in the auctions.” Maker Foundation provides “limited technical assistance to some bidders” “Similar to how the Foundation created the Auction UI,” the foundation states that “it has offered limited technical assistance to some bidders on a first come, first serve basis to facilitate their timely and effective participation in the auctions.” The statement emphasizes…

Coronavirus Quarantine Drove “Volume Resurgence” in Asia

Catherine Coley, the CEO of Binance US, revealed that the coronavirus quarantine in Asia drove a surge in trade volume during an interview with Bloomberg on March 16. On the subject of the recent correlation between Bitcoin (BTC) and the S&P 500, Coley asserts that both the traditional cryptocurrency markets are playing out a familiar long-term cycle. She states that the markets are experiencing what she terms the “CRIC cycle” — where “crisis” yields a market “response,” followed by “improvements,” and then a return to “complacency,” before the cycle then…

After BitMEX Meltdown, Should Shorting Be Banned on Crypto Exchanges?

Bitcoin’s (BTC) rapid 50% price drop in the wake of Coronavirus concerns aroused chatter around banning the ability for traders to assume short positions in cryptocurrency markets. Question is, would that be the right move? Crypto market daily performance. Source: Coin360 Flash crash raises spectre of shorting bans On March 12 Bitcoin dropped to prices not seen since April 2019, shedding half its value as fear gripped markets worldwide. The massive sell-off was instrumental in the carnage in which all cryptocurrencies except stablecoins suffered. Long positions worth around $1 billion…

Coronavirus ‘Didn’t Cause’ Crash, BTC Recovery ‘Will Take Months’: Hodler’s Digest, Mar. 16–22

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin price did not crash 60% due to coronavirus, Binance CEO says It’s fashionable to think that Black Thursday’s bloodbath on the crypto markets was caused by the coronavirus. But Changpeng Zhao, the CEO of Binance, disagrees. He believes the pandemic certainly triggered the current…

Bank of China Continues Anti-Crypto Narrative on WeChat

Financial markets are facing their worst crisis since 1929 and people are looking for alternatives to protect themselves from the crash. One option being considered by many is cryptocurrency. In response, Bank of China has continued its anti-crypto narrative in a long post titled “3.15 Protetion of Financial Consumption Rights and Interests”. The post was published on the bank’s official WeChat account on March 22. In the post, bank officials warn the public about cryptocurrency investment, calling out the three main scams seen on crypto exchanges. The bank stated: “First…

Cointelegraph Youtube Hosts Review COVID-19 and Bitcoin Memes

Are you bored sitting at home in quarantine while the COVID-19 pandemic is raging outside? Feeling depressed from the latest crypto market crash? Afraid that the world might be ending? Don’t worry! Cointelegraph Youtube hosts, Jackson and Giovanni, collected the best memes on coronavirus and Bitcoin to lift up your mood. Any moment of global crisis is fertile ground for memes, some of which are spreading as fast as the COVID-19 pandemic itself. People all over the world are raiding supermarkets and stocking up goods for the months to come.…

Ethereum-Based SkyWeaver Game Launches Season 0

SkyWeaver, the forthcoming free-to-play blockchain-based card game from Horizon Blockchain Games, has opened its final closed-beta season. On March 21, Horizon announced that season 0 of SkyWeaver had commenced. The season will be live until the launch of SkyWeaver’s open-beta version. Horizon opens season 0 of SkyWeaver The collectible card game uses Ethereum-based non-fungible tokens (NFTs) as in-game items — which players can either use within the game or trade on secondary markets. The in-game items earned during season 0 will not be able to be used once SkyWeaver enters…

Celo Alliance Is out to Challenge Libra, Hoping for Less Red Tape

Several members of the Facebook-backed Libra Project have announced their alliance with a rival stablecoin project known as Celo. Since the middle of March, members that have joined the Celo Alliance for Prosperity include, among many others, Coinbase Ventures, Anchorage Mercy Corps, Andreessen Horowitz and Bison Trails Co. The shift in interest from one project to the other may signal the ultimate demise of Libra, as several companies have departed the project. In October of last year, the Libra Association took a major hit when five of its most prominent…