May 8, 2020

One of Bitcoin’s Earliest Miners Is Dedicating $66M in Crypto to a Fund of Funds

May 8, 2020 boss

Bixin, one of the earliest bitcoin miner operators and wallet startups, is dedicating 6600 bitcoin, worth $66 million, to a new fund of funds. The company announced the fund of funds with its proprietary capital on Friday and said it aims to invest in global quantitative trading funds whose strategies are based on arbitrage, bitcoin futures contracts and trend analysis. By providing additional liquidity and market making activities to these trading desks amid bitcoin’s scheduled halving event, Bixin seeks to increase its holdings in bitcoin as part of its “unwavering…

Crisis Highlights the Need for Ethereum

May 8, 2020 boss

Vitalik Buterin believes that Ethereum can play a role in a future global crisis as the glue that helps bind nations together. The Ethereum co-founder spoke at the Ethereal Summit 2020 on May 7 to The Defiant’s Cami Russo. Describing the current global crisis as more than just a financial one, Buterin said the levels of political discord and distrust between countries had highlighted the need for a network like Ethereum. “I definitely think that there’s a role for blockchains — and Ethereum in particular — to play in being…

Bitcoin Primed To Test $10,500 as Bulls Take Over Crypto Market

May 8, 2020 boss

Bitcoin is up more than 7% and it broke the $10,000 resistance against the US Dollar. BTC is showing many bullish signs on the daily chart and it is likely to test $10,500. Bitcoin is gaining bullish momentum and it recently spiked above $10,000. The current crypto market sentiment is very positive, suggesting more upsides towards $10,500. There was a break above a crucial bearish trend line with resistance near $7,800 on the daily chart of the BTC/USD pair (data feed from Kraken). Ethereum and ripple are slowly gaining momentum,…

Hackers Threaten to Release Legal Secrets of World’s Biggest Stars

May 8, 2020 boss

The private legal affairs of dozens of the world’s biggest music and movie stars — Lady Gaga, Elton John, Robert DeNiro, and Madonna among them — are at risk of exposure following a ransomware attack on a high profile New York entertainment law firm. Grubman Shire Meiselas & Sacks have reportedly been hit by the REvil ransomware (also known as Sodinokibi), with the attackers threatening to release up to 756GB of stolen data in nine staged releases. The stolen data includes confidential contracts, telephone numbers, email addresses, personal correspondence, non-disclosure…

Crypto Investor Sues New York Teen for $71.4 million in SIM-Swap Saga

May 8, 2020 boss

Investor Michael Terpin is suing a New York teenager for $71.4 in damages for allegedly stealing $23.8 million in cryptocurrency from him in 2018. It’s the latest legal action in a long running saga. Ellis Pinsky of Irvington, New York, along with his co-conspirators reportedly managed to snatch $23.8 million worth of cryptocurrency in a SIM swap from the plaintiff. At the time of the alleged crime, Pinsky was just 15 and a representative for Terpin said he had returned $2 million of the funds. Now he is 18 Terpin…

Bitcoin Price Touches $10K Amid 2020’s Macroeconomic Storm and Covid-19 Fears

May 8, 2020 boss

On May 7, 2020, the price of a single bitcoin crossed $10,000 per unit in USD value as the network only has four days until the halving, otherwise known as the “quantitative hardening” by some investors. The cryptocurrency’s per annum inflation rate will drop from 3.6% to 1.8% on or around May 12, 2020, as banks like the Federal Reserve flood the monetary system with stimulus by creating trillions out of thin air. The digital asset BTC has made headlines today, as the price per unit has once again crossed…