Day: April 22, 2020

Stablecoins and Crosschain Loans: 2 Projects Attempt to Bring Defi Solutions to Bitcoin

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While decentralized finance (defi) solutions have grown popular on the Ethereum blockchain, developers have recently created similar systems by leveraging BTC’s network. A project called Atomic Loans claims to offer a noncustodial bitcoin-backed stablecoin solution, while Money on chain a new smart contract built on the RSK protocol, also offers a stablecoin token. An Attempt to Defi Bitcoin There’s been a lot of buzz over the last two years and phrases tossed around like “decentralized finance (defi)” or “open finance.” Most of the time, cryptocurrency proponents are talking about the…

‘Google Me’ If You Want to Serve Your Subpoena

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Bitcoin SV’s Jimmy Nguyen has denied claims he is “intentionally evading” a subpoena in the long-running court case brought by the Kleiman against Satoshi-claimant Craig Wright.  Nguyen’s legal team has submitted an opposition to the Kleiman Estate’s motion that he comply with a subpoena to produce documents and testify in the case, which involves a dispute over ownership of the 1.1 million Bitcoin Dave Kleiman allegedly mined with Wright. The plaintiffs had argued “Mr Nguyen may be intentionally evading service” based on the “sheer number of unsuccessful service attempts.” But…

Senate Passes New $484 Billion Pandemic Aid Package

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A month after the massive $2 trillion stimulus bill passed and the U.S. Senate has approved a supplemental $484 billion aid package to help small businesses and hospitals get through the tough times.  The package, which was the subject of frenetic negotiations over the past two weeks, allocates $380 billion towards small business loan programs, $75 billion to emergency funding for hospitals and $25 billion for disease testing. The legislation will be sent to the House later this week where it’s expected to receive bipartisan support. President Donald Trump has…

Bitcoin Price Hangs on to Key Support Level as Stocks and Oil Tip Over

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The shockwaves from yesterday’s explosion in the oil markets continued to damage oil prices and shrapnel from the blast caused damage to equities today as U.S. markets closed in the red after a nearly 3-week rebound.  West Texas Intermediate crude closed down 9.49% at $9.06, and June 2020 futures dropped from $22.58 to $13.12. What is clear is that investors remain fearful about the future of the entire industry as the coronavirus pandemic continues to dampen demand for oil.  Is it over for stocks?  Before the start of this week…