Day: April 3, 2020

Coronavirus Pandemic Reminds Us That Security Is Important During the Zoom Boom

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Even with all the looming uncertainty surrounding the global COVID-19 pandemic, system security needs to remain at the forefront of companies’ planning.  Businesses around the world are shutting down under local, state or national decrees as COVID-19 fears bring caution regarding public gatherings. Unsurprisingly, hackers have used the unprecedented opportunity of chaos and panic to probe weaknesses in information technology systems. One of those systems happened to be the United States Department of Health and Human Services, making the act even more egregious, considering the circumstances. But the problem extends…

Blockchain Head at European Commission Explains Usefulness of DLT

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The head of the digital innovation and blockchain unit at the European Commission (EC), Pēteris Zilgalvis, explained the concise benefits of distributed ledger technology (DLT) in an interview to The Banker, a subsidiary of the Financial Times. In the interview, published on April 3, Zilgalvis talked about the benefits and challenges of the technology. According to him, blockchain provides a powerful framework for data sharing, something that can’t be done by normal databases: “We think that it presents an excellent technology for situations where different stakeholders need to collaborate but,…

YouTube Bans Drive Cryptocurrency Fans to Decentralized Alternatives

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In recent years, Google-owned video-sharing platform YouTube deleted and banned an array of cryptocurrency-related channels. The platform’s policy has driven cryptocurrency enthusiasts to look for decentralized alternatives to YouTube, which allow users to skirt censorship and even incentivize them with their own tokens. In a YouTube video published on April 1, a channel dubbed Bitcoin for Beginners reviewed some of the decentralized YouTube alternatives. When choosing the most relevant platforms, the channel host took into account their usability, track records and user interface as major criteria. Among the most popular…

Bithumb Global Launches Margin Trading for Bitcoin and Ether Pairs with Tether

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Bithumb Global, the international platform of South Korea’s top crypto exchange, has rolled out margin trading with 5x leverage for Bitcoin (BTC) and Ether (ETH) trading pairs with Tether (USDT). In an announcement published on April 2, the exchange revealed the service would be available on its website and app. It will, however, be restricted for traders living in jurisdictions where margin trading is prohibited or capped — as, for example, with Japan.   Leveraged trading gains traction in the industry Margin trading enables traders to use borrowed funds in order…

Institutional Trade Volume Hits Local High as Bitcoin Jumps over $7,000

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Futures linked to the bitcoin market experienced a spike in their volumes this Thursday as the cryptocurrency’s spot rate broke above $7,000. Crypto statist Skew highlighted that trading activity on CME’s and Bakkt’s bitcoin derivatives marketplaces surged by up to $595 million and $27 million, respectively. The move uphill left CME’s open interest as high as $217 million. On Bakkt, meanwhile, the value of outstanding futures contracts topped near $9.3 million. “CME and Bakkt both with strong showings yesterday, the largest volume since Mar 16th,” tweeted Skew on Friday. BTCUSD…

Mike Novogratz May ‘Hang His Spurs’ if Bitcoin Doesn’t Hit $20K in 2020

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As cryptocurrency markets have been edging up over the past two weeks amid multiple sell-offs on the mainstream market, the crypto community has become even more bullish on the price of the major cryptocurrency, Bitcoin (BTC). Mike Novogratz, CEO of crypto merchant bank Galaxy Digital and a well-known Bitcoin bull, has once again reiterated his bullish stance to the biggest cryptocurrency, predicting that Bitcoin should retest its $20,000 highs by the end of 2020. In an April 2 interview with CNBC’s Closing Bell, Novogratz also expressed his confidence that Bitcoin’s…

Huobi Charity to Distribute $50,000 in Native Tokens in Indonesia

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Huobi’s charity arm has announced an initiative to distribute aid to assist Indonesia’s fight against COVID-19. Huobi Charity will distribute aid in partnership with the Indonesia-China Association of Economic, Social and Cultural Cooperation (ICAESCC) to make monetary contributions, donate medical supplies, and leverage blockchain technology to assist healthcare organizations. Huobi launches coronavirus charity initiative in Indonesia To provide immediate relief, Huobi Charity will donate roughly $50,000 in Huobi Token (HT) to ICAESCC for the purchase of medical supplies for hospitals. Ciara Sun, Huobi Group’s vice president of global business, emphasized…

Chinese Regulator Accuses Crypto Exchanges of Fraudulent Volumes

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The National Internet Finance Association of China (NIFA) warned investors that cryptocurrency exchanges located outside of the country are engaged in manipulative practices on April 2. The People’s Bank of China (PBoC)-affiliated regulator cautioned investors that many off-shore exchanges wash trade to fake trade volume and engage in underhanded tactics to liquidate leverage traders. NIFA cites an internal analysis of cryptocurrency markets that found more than 40 crypto assets produced trade volumes exceeding 100% of their total market capitalization, while a further 70 cryptocurrencies saw daily trade activity equal to…

Bitcoin and Ether Market Update: April 3, 2020

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Total crypto market cap added $21.6 billion to its value since Monday morning and now stands at $190.1 billion. Top ten coins are all in green for the last 24 hours with Bitcoin SV (BSV) and Bitcoin Cash (BCH) being the biggest gainers with 5.7 and 4.6 percent of increase respectively. At the time of Read MoreRead More. The post by Georgi Hristov appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News Source If You Liked This Article Click To Share AprilBitcoinEtherMarketUpdate CryptoX Portal

Blockchain Is Not a Panacea for Finance, Says Russian Bank Official

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The Central Bank of Russia’s (CBR) first deputy governor has said that blockchain technology is not the “universal solution,” many promised it would be five years ago. In an interview with Euromoney on April 2, Olga Skorobogatova took a deep dive into the bank’s initiatives, sandboxes, and experiences with blockchain deployment.  Following three years of experimenting with the Masterchain platform — a local blockchain-based network for transferring valuable financial data like mortgage accounting — Skorobogatova said, “Blockchain is a great fit for things like letters of credit and guarantees because…