May 27, 2020

Was that Satoshi? TRON 4.0 is launched. WEF’s Blockchain Bill of Rights

May 27, 2020 boss

In this issue Did Satoshi Nakamoto just cash in some BTC? TRON 4.0 receives cool response Davos org unveils ‘Blockchain Bill of Rights’ In China: Ant Financial’s new smart contracts; state to invest billions in ‘new infrastructure’ like blockchain and IoT VC highlights: car-sharing in Singapore, and fintech in India From the Editor’s Desk Dear Reader, Two significant developments this week in blockchain and technology reinforces one of the biggest themes we are tracking at Forkast.News: technology and geopolitics are colliding. China has begun the arduous task of mapping out…

BitGo Launches Full-Service Institutional Trading Platform, BitGo Prime

May 27, 2020 boss

BitGo, a United States-based firm that handles about 20% of all Bitcoin (BTC) transactions, is introducing BitGo Prime, a new entity specifically for institutional trading services. On May 27, BitGo said that the new prime broker platform will incorporate multiple services targeting institutional investors. After launching an institutional-level crypto lending service in March 2020, the new full-service platform integrates institutional crypto lending, trading and custody services. BitGo focuses on institutional investors Apart from the recent launch of institutional crypto lending services, BitGo has been actively working with institutional traders. Nick…

Bitmain Confirms Ousting of Micree Zhan, Threatens Legal Action

May 27, 2020 boss

Mining equipment producer Bitmain has issued two concurrent statements regarding its disgraced co-founder Micree Zhan, confirming his ousting in October. The statements were posted on Bitmain’s Weibo page on May 27, both of them reiterating that Micree Zhan, the company’s former chairman and legal representative, was removed from his position by a shareholders’ decision on Oct. 28, 2019. On November 5, the statement reads, the company passed the executive director’s decision to remove Zhan from management. The company further states that Zhan has no right to act as the company’s…

Slipping Yuan May be Good for Bitcoin Price, Past Data Suggests

May 27, 2020 boss

Bitcoin traders should keep an eye on the ongoing slide in the yuan, analysts say. That’s because, historically, the cryptocurrency looks to have put in a positive performance during bouts of weakness in the Chinese currency. The yuan (CNY) fell to 7.1613 per U.S. dollar earlier on Tuesday to hit the lowest level since early September and taking its cumulative month-to-date and year-to-date losses to 1.4% and 2.85%, respectively. The decline to eight-month lows could be associated with concerns about the U.S. response to China’s proposed security law for Hong…

Amazon’s Colossal Pandemic Spending Isn’t What You Think Is

May 27, 2020 boss

Amazon could use the pandemic as an expansion opportunity. The firm’s distribution network has a huge opportunity to grow. JC Penney could be a takeover target for Amazon, or the firm could be considering buying new cargo planes. When Amazon (NASDAQ:AMZN) released its first-quarter results, Jeff Bezos warned that investors were in for a bumpy ride in Q2. The reason he said was the global pandemic— the company would need to spend more than it makes in the coming quarter. At the time, it sounded like Mr. Bezos was referring…

Three Crucial Reasons Why Bitcoin Is Ready to See a Sharp Rally After 15% Drop

May 27, 2020 boss

Bitcoin has been subject to troubling price action over the past week. Since the May highs of $10,000 established in the wake of the halving, the cryptocurrency has been in a clear downtrend, with BTC now trading at $8,800 as of the time of this article’s writing. At the local lows, Bitcoin traded as low as $8,600 on some exchanges — approximately 15% shy of the highs. It should come as no surprise that some have taken the recent price action as a death knell for Bitcoin’s bull trend, which…

Ethereum Showing Early Signs of Strong Recovery But 100 SMA Is The Key

May 27, 2020 boss

Ethereum is holding the main $200 and $198 support levels against the US Dollar. ETH price is currently testing the 100 hourly SMA and struggling to continue higher above $205. Ethereum is facing a strong resistance near the $205 level and the 100 hourly SMA. The price is likely to accelerate higher if it breaks the $205 resistance zone. There was a break above a key bearish trend line with resistance near $202 on the hourly chart of ETH/USD (data feed via Kraken). The pair might decline again towards $200…

Vodafone to Connect ‘Billions’ of Energy Producing Devices Using Blockchain

May 27, 2020 boss

Global telecommunications giant Vodafone has partnered with blockchain startup Energy Web (EWT) to connect “billions” of distributed energy generating assets via internet-of-things (IoT) and distributed ledger technology (DLT). Energy Web announced the partnership on May 26, revealing that the project will combine SIM-centric DLT with IoT connectivity provided by Vodafone Business to “create secure IDs for energy assets.” “This means that renewable and distributed assets like wind turbines, batteries, heat pumps, and solar panels can be integrated with energy grids safely and efficiently,” said Energy Web. Vodafone is a global…