May 2, 2020

What Decentralized Finance Should and Shouldn’t Be

May 2, 2020 boss

Decentralized finance, or DeFi for short, became a buzzword in 2019 following the valuations of MakerDao and Compound after both companies raised sizable rounds from the elite Silicon Valley-based Venture Capital firm Andreessen Horowitz. 2020 has been a difficult year for the crypto DeFi sector — it’s been going through the wringer. Over the weekend, the dForce ecosystem protocol Lendf.me lost 99.95% of its funds from a hacking exploit. Just days later, the hacker leaked information about his identity that resulted in him returning most of the stolen funds. This…

Bitcoin Won as Store of Value in Coronavirus Crisis — Hedge Fund CEO

May 2, 2020 boss

Bitcoin (BTC) has in fact functioned very well as a store of value before the coronavirus crisis, raw data suggests. In a Twitter discussion on May 1, Travis Kling, head of crypto hedge fund Ikigai, produced fresh evidence that, despite volatility, Bitcoin has preserved its investors’ wealth. BTC protected hodlers from “catastrophic event” Since February, BTC/USD has delivered stable returns of 0.6%, Kling said, smoothing out any pain to “hodlers” sparked by one of the most unnerving financial implosions of recent history last month. “The price of #Bitcoin increased 0.60%…

Bitcoin Price Yearly Average Nears All-Time High Above 9K Pre-Halving

May 2, 2020 boss

Bitcoin (BTC) may have reversed all price losses since its crash in March, but another price indicator is about to make a new all-time high. As noted by Yassine Elmandjra, crypto-asset analyst at investment advisor ARK, the top cryptocurrency by market capitalization is about to set a new record high for yearly moving average price. BTC price metric shoots for the moon In a tweet on May 1, Elmandjra produced a chart confirming the trend — since early 2018, the time of Bitcoin’s current yearly moving average price high, the…

A G7 Central Bank Confirmed It’s Floating Negative Rates

May 2, 2020 boss

Despite the roaring recovery in the S&P 500, crypto, and other markets, many facets of the global economy remain in recession. Dozens of millions are unemployed, consumer spending is down, and the global supply chain has come to a screeching halt. With cashflows going negative around the world, meaning firms are at risk of going bankrupt and millions more risk losing their jobs, central banks have announced increasingly stronger forms of monetary policy to save businesses and individuals. This was accentuated when the incoming head of a Group of Seven…

A G7 Central Bank Confirmed It’s Floating Negative Rates

May 2, 2020 boss

The Role of Crypto as a Means of Exchange

May 2, 2020 boss

Due to the transition of many people around the world into a “stay at home” mode, where the only viable way of communicating and receiving something is through the global network, some new information regarding darknet activity has begun to surface. In the time of COVID-19, there has been an increase in both the activity of cyber fraudsters using the capabilities of cryptocurrencies and general illegal activity on the World Wide Web. Of course, not all darknet operators are using the epidemic for malicious advantage, and comply with the code…