Month: March 2020

US Holding Firm Halted Mining Business After Bitcoin Crashed Below $4K

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Although the cryptocurrency markets have slightly recovered following massive sell-offs in mid-March, Bitcoin’s (BTC) faltering price has led to notable miner instability and closures. Soon after Bitcoin dropped below the $4,000 threshold on March 13, DPW Holdings, a Nasdaq-listed holding company, announced that it is temporarily shutting down its cryptocurrency mining business, Digital Farms. DPW notifies the SEC about multiple changes to its business in relation to the coronavirus According to a March 18 business update filed with the United States Securities and Exchange Commision (SEC), the Digital Farms’ suspension…

Blockchain Jobs Continue to Rise Despite Global Recession

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Trillions of dollars have been injected into the global markets in an attempt to revitalize the world economy. The U.S. alone recently hit its highest unemployment rate in history. The whole world seems to be falling apart except for blockchain Kraken, one of the largest cryptocurrency exchanges in the United States, is looking to increase its job force by 10%, despite the recent dips in crypto price, according to Forbes on March 26. Kraken’s team, currently 800 members strong, is adding an additional 67 hires to the company over the…

The Bitcoin Price Just Plunged Under $6,400 After Days of Stagnation

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Over the past ten minutes, Bitcoin has performed extremely poorly, falling from $6,700 to a price as low as $6,265 in an over 6% sell-off, per data from TradingView. As a result, at least $20 million worth of long positions on BitMEX were liquidated, while millions more probably bit the dust on other exchanges. This 6% crash comes after days of stagnation for the cryptocurrency market, epitomized by the fact that the cryptocurrency held between $6,500 and $7,000 for over three days, leading one trader to jokingly ‘capitulate’ because of…

Silk Road Founder Ross Ulbricht Spends Seventh Birthday in a Row in Jail

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Ross Ulbricht turns 36 years old today. This will be his seventh birthday in incarceration. Ulbricht is the convicted felon serving two life sentences plus 40 years for his role in creating the Silk Road, the online contraband market notorious for its associations with cryptocurrency. Ulbricht says Silk Road was initially envisioned as a libertarian paradise, but it eventually went sideways: “Silk Road was supposed to be about giving people the freedom to make their own choices, to pursue their own happiness, however they individually saw fit. What it turned into…

Telegram Seeks Clarity On The Preliminary Injunction Against TON

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How far can a preliminary injunction from an American court reach? The answer to that question is everything for Telegram’s embattled TON blockchain project. TON has been under legal fire since shortly after the SEC became aware of its token sale. The drama is ongoing as recently as this week, when a federal district court judge issued a preliminary injunction against Telegram for its ten-figure initial coin offering. The allegation is that Telegram’s GRAM token, operating on the TON blockchain, was illegally being sold as a security, and the judge…

Russian Police Take Down an Illegal Bitcoin Mining Farm

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Russian police have caught bitcoin miners who were stealing $200,000 worth of electricity each month in their efforts to mine cryptocurrency. According to a statement released by the Russian Interior Ministry, a Saint Petersburg suspect has been arrested, along with nine alleged accomplices. The criminals managed to install sophisticated infrastructure that connects mining equipment to the country’s electricity supply at eight different locations, the Interior Ministry stated. Seized elements during the raids In total, the Russian National Guard seized 1,500 pieces of mining equipment, 2 million rubles, smartphones that contained…

Bitcoin Ascends on Twitter While Major Altcoins Hit Multi-Year Lows

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Major altcoins have seen their Twitter presence greatly reduced in the wake of the recent cryptocurrency market crash. According to data from Bitinfocharts, major altcoins such as Ethereum, Litecoin, and XRP now find their Twitter mentions nearing two and even three-year lows. Meanwhile, Bitcoin’s Twitter presence doubled in the first three months of 2020, though its tweet count remains a long way off of its 2017 all-time high. XRP tweets hit 21 month low Earlier this week, on March 21st, tweets bearing the hashtag #XRP numbered 2,542. That’s a 60%…

MakerDAO Toes the Line Between Life and Death

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The crypto industry is young, and in emerging tech, a handful of companies often lead the charge. For those holding equity in these companies, this is generally considered something to be encouraged. For everyone else, it is not. The recent rise of decentralized finance has been no different, and the company holding the torch is MakerDAO. When market conditions are favorable, these powerful companies can be trailblazers for the industry. However, if they face an existential threat, they can drag the entire sector down with them. To say that the…

FBI Apprehends & Charges Russian Hacker, Closes Down Deer.io Platform

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The Federal Bureau of Investigation (FBI) has charged a Russian hacker for stealing private information, and has shut down his platform — Deer.io, which moved funds via crypto assets. The FBI shut down the Deer platform on March 24, as per a statement from the U.S. Department of Justice (DoJ). The platform’s “suspected administrator – alleged Russian hacker Kirill Victorovich Firsov – was arrested and charged with crimes related to the hacking of U.S. companies for customers’ personal information,” the DoJ noted. The FBI detained the alleged infiltrator weeks ago…

NOvid 2020: American Scientist Pushes for Blockchain to Secure Mobile Citizen Data and Build Payment Platform For Addressing Pandemic And Economic Crisis

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Sharing is caring! by John Henry Clippinger, It takes a blunt existential crisis to redress systemic societal and economic failings. We are at such a moment with the epic storm of global health and economic crisis compounded by inept and regressive leadership. These failures will not be redressed by traditional means.  These challenges also present a singular opportunity to catalyze a new ecological, social and economic contract for the 21st century.  As data are the new currency of the digital realm, there is the real prospect of resetting foundational rights…