Day: March 24, 2020

How to Buy Weed With Bitcoin

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So you’ve got a little bitcoin to your name but are all out of weed. What you gonna do? Well, if you’re fortunate enough to live in a region where marijuana is legal, there are ways to exchange the two. While if you don’t inhabit such an enlightened area, rumor has it there are still ways and means to get your fix without touching fiat. Here are five options for legally buying weed with bitcoin. Also read: California City Official Uses Bitcoin Cash to Purchase Cannabis How to Swap Sats…

How Bitcoin is Faring So Far

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The coronavirus crisis has seen Bitcoin price nosedive in one of the greatest Bitcoin price crashes since its inception. With a 52% drop in price in a single week, the coronavirus has left many Bitcoin enthusiasts scratching their heads. Even the legendary crypto trader, Peter Brandt, who predicted Bitcoin’s peak way back in 2017, tweeted that he wouldn’t be shocked if it crashed to $1,000 and below. Will Bitcoin recover from such a huge crash? And can it still be trusted to store value over time? These are just some…

Court Sides With SEC, Grants Injunction Against Issuing GRAMs

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A United States District Court has granted an injunction against Telegram, preventing the company from issuing its GRAM tokens at the present time. Court says that GRAMS are securities under Howey test Per a March 24 filing granting the Securities and Exchange Commission’s request for a preliminary injunction, the Court wrote that: “The Court finds that the SEC has shown a substantial likelihood of success in proving that  the contracts and understandings at issue, including the sale of 2.9 billion Grams to 175 purchasers in exchange for $1.7 billion, are…

Binance Holds $1B in ERC-20 Stablecoins

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Binance has more than $1 billion in ERC-20-based stablecoins as of March 24. This figure surpasses a milestone that quite far ahead of second-place Huobi. Binance holds $1,007,585,549 of these stablecoins as of press time, a balance that has grown some $105,583,132 over the past seven days, according to the global stablecoin exchange balance by Nansen. Huobi’s balance is slightly more than half that sum: $694,327,505. That figure represents a growth of $165,823,720 in the same seven days as Binance. These companies are distinctly leading the pack in stablecoin balance.…

Turning A Crisis Into An Opportunity, China Gets One Step Closer to CBDC

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As central banks around the world are cutting interest rates to zero and taking aggressive action against the economic recession due to the coronavirus pandemic, China’s central bank is accelerating its central bank digital currency (CBDC) plan. According to a Global Times report on March 24, China is one step closer to issuing its CBDC. The Bank of China has completed development of the basic functions of the official digital currency and is now drafting laws that will help its implementation.  The Global Times also mentioned a number of Shenzhen-based…

Crypto Donation App BABB Waives Fees For Coronavirus Fundraisers

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Crypto wallet banking and donation app BABB has announced the debut of its top-up function, a fee-waiving cash-out policy for COVID-19 fundraisers on its platform. According to the announcement, the company has also added a fiat gateway that every Android and iOS user will have access to. BABB clarifies that as long as the users pass the Know-Your-Customer verifications, they will be eligible. That said, customers who have not previously used BAX tokens or who are not familiar with trading or exchange platforms will be able to buy the BAX…

Solana and Chainlink Team Up To Build A Crazy Fast Oracle

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Blockchain platform Solana has joined up with decentralized oracle solution Chainlink to construct an oracle that updates incredibly quickly.  “We recently saw market failures due to congestion on Ethereum, including oracle failures,” Solana CEO and founder Anatoly Yakovenko told Cointelegraph in an interview, adding:  “What we’re building with Chainlink is a high-frequency oracle that can give a price update every 400 milliseconds — and because of our capacity, we shouldn’t see those kinds of market failures on our network. It’s solving a fundamental problem that we see in the decentralized…

Texas Regulator Warns of New Crypto Frauds Amid Coronavirus Outbreak

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The Texas State Securities Board (TSSB) has issued a warning on March 23 about crypto scams that have emerged in the wake of the COVID-19 pandemic. The report refers to different types of scam, among which are those related to crypto investments that promise high returns in the midst of the coronavirus crisis. Coronavirus-related scam methods Among other scams, one of the most common is called “pump and dump.” The sceme consists of fraudsters who, based on penny stock purchases, try to boost prices by sharing “positive” information that turns out…

Crypto.​com Simplifies Crypto Tax Reporting for Its Users

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Payments and cryptocurrency platform Crypto.com has simplified cryptocurrency tax reporting for its users through a new partnership with three tax providers. On March 24, Crypto.com announced the collaboration with crypto tax calculator CoinTracker, crypto tax software platform TokenTax and crypto tax reporting firm CryptoTrader.Tax. Now, Crypto.com’s users can import their historical crypto transactions from the platform into one of the aforementioned tax reporting platforms to generate necessary tax reports. Users then can pass the forms along to a tax professional or transfer to tax filing software for further processing. A…

Crypto Exchange Bitfinex Unveils Anti-Manipulation Tool ‘Shimmer’

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Cryptocurrency exchange Bitfinex deployed its proprietary market surveillance tool to combat market abuse on the platform called “Shimmer.” According to an announcement shared with Cointelegraph on March 24, Shimmer is meant to identify and investigate possible manipulative behaviours and suspicious trading on Bitfinex. The exchange expects that the integration of the tool with its matching engine will improve market integrity and visibility. Bitfinex’s team will be warned about suspicious trading Now, Bitfinex’s team will be alerted via email when potential improper trading activity is detected on any of the exchange’s…