Day: April 30, 2020

Data Shows $1,000 Bitcoin Price Gains Are Followed by 38% Drawdown

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This week Bitcoin price pulled off an incredible rally that appears to have exceeded the expectations of many investors. Data from Cointelegraph Markets and CoinMarketCap shows record trading volume across multiple crypto exchanges occurred as Bitcoin rallied to $9,400 but this doesn’t mean that the long awaited bull market has started.  Crypto market daily price chart. Source: Coin360 History shows that whenever the Bitcoin (BTC) price increased by more than $1,000 on a single day, it was susceptible to a major correction. The recent surge from $7,700 to $9,400 and…

Noted Tax Haven Cayman Islands Sees New Bills to Bring Local Crypto to FATF’s Heel

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On April 28, the legislative assembly of the Cayman Islands gazetted five new pieces of legislation governing crypto businesses — especially exchanges.  How the new legislation would change the Cayman Islands’ crypto industry The Virtual Asset Service Provider Bill would establish definitions and registration requirements for companies providing crypto services including exchanges, custodians and decentralized financial operators. Accompanying this bill are amendments to other reigning pieces of finance legislation for securities and stock exchanges. A provision included in the VASP Bill is the sandbox license. Such licenses would allow companies…

Famous Venezuelan Entertainer Quits Acting to Lead Controversial Crypto Startup

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Long-time Venezuelan actor and singer, Fernando Carrillo, has announced his retirement from acting. He has decided instead to venture into the crypto business. Starting May 1, Carrillo will become the CEO of Fight to Fame, though his role only extends to Mexico and the Latin American region. According to an article published on April 29 by the Mexican newspaper, El Universal, Carrillo will lead the Singapore-based crypto firm founded by Morgan Shi. This company is known for issuing the FF Token. Actor sees Blockchain as the “future” Fernando, who is…

Local Chinese Government Launches Its First Blockchain Platform

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The government of Anhui, a province in eastern China and a part of “Yangtze River Delta Economy Region”, has officially launched its first blockchain platform for providing government services. The launch occurred on April 30, according to local news reports. Starts with local law sector “Blockchain + Electronic Certificate and License” is also the first application being launched on the government’s blockchain platform, says the report. The application will initially place lawyer’s practice licenses on the blockchain. This will help to provide better transparency and authentication in the sector. The…

Nasdaq Partners With R3 to Help Build Institutional-Grade Digital Assets

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The world’s second-largest stock exchange and capital markets technology company, Nasdaq, has entered a partnership with enterprise blockchain solutions platform, R3.  R3 announced the partnership on April 29, 2020, stating that Nasdaq will use its blockchain software, Corda, among other services. Their intention is to help financial institutions easily build and deploy institutional-grade digital assets. This is a long-term, non-exclusive partnership between the two firms, which means Nasdaq can still collaborate with other blockchain solution providers to work on new projects. R3’s compatibility with highly regulated environments inspired the partnership…

Matic Announces a Privacy-Centric Coronavirus Tracking App

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Blockchain scalability solution, Matic, launched a privacy-focused coronavirus tracking mobile application. According to an April 29 announcement, the new app — dubbed Tracy — leverages the Matic network for contact tracing and quarantine management. The solution also uses decentralized data storage solution, MóiBit, to store sensitive data. Per the announcement, Tracy is the first blockchain-based solution that was developed for quarantine management and contact tracing. The application is meant to let users understand how likely they are to have come in contact with somebody who tested positive for the coronavirus.…

Trezor now taking pre-orders for its hardware Bitcoin wallet

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Satoshi Labs was founded by Pavol Rusnak and Marek Palatinus, and produced the first Trezor prototype in 2012. They launched Satoshi Labs in 2013 and also began fundraising. Trezor offers two products, the Model T and Trezor One. The first generation Trezor One contains two physical buttons and a screen, while the Model T is a second generation product with a touchscreen. The two devices are nearly identical in functionality and security. The first Trezor One devices shipped in 2014, and a next-generation model was released in 2016. Trezor wallets…

BITCOIN STEHT VOR DEM BOOM

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Bitcoin Lender Genesis Global Issues $2 Billion in Loans During Record Quarter

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Genesis Global Trading has reported a 100% jump in new loan originations in the first quarter. The cryptocurrency lender and trading platform added a record $2 billion in new loans in the three months leading to March 2020, up $1 billion from the previous quarter. BTC accounted for 44.8% of the loans and bitcoin cash (BCH) 5.8%. In a recent update, Genesis said new loan issuances soared 354% from a year ago. Active loans outstanding briefly touched $1 billion around the middle of February, before falling to $649 million at…