May 28, 2020

Ethereum (ETH) May Be Forecasting 50% Drop Against Dominant BTC

May 28, 2020 boss

For over two years now, Bitcoin has been outperforming altcoins like Ethereum and others. BTC dominance has continued to climb as a result. However, Ethereum may be forecasting another 50% drop on the ETHBTC trading pair that could bring dominance back to pre-bubble levels. ETHBTC Points To Dangerous Ethereum Drop Against Bitcoin In early 2020, Ethereum vastly outperformed Bitcoin due to surging interest and buzz surrounding decentralized finance. Talk of the 2020 launch of ETH 2.0 kept bullish momentum high enough for a record-setting nine full weeks of consecutive green…

This Billionaire Just Gave up on Warren Buffett (And Maybe We Should Too)

May 28, 2020 boss

Billionaire trader Bill Ackman revealed that Pershing Square sold its entire stake in Warren Buffett’s Berkshire Hathaway. Buffett has had a terrible year, and Ackman’s move is yet another sign that the veteran tycoon may be well past his best. Berkshire Hathaway has underperformed the stock market by a comfortable margin, and Buffett’s last three big investments have lost him billions. Veteran trader Bill Ackman sold his hedge fund’s stake in Warren Buffett’s Berkshire Hathaway. The move comes as Ackman’s Pershing Square is up over 20% for the year, while…

Telegram CEO Donates 10 BTC to Charity Project in Russia

May 28, 2020 boss

Pavel Durov, founder and CEO of popular messaging app Telegram, has purportedly resumed his charity activity soon after terminating Telegram’s blockchain project. Known for philanthropic activity, including a $1 million donation to Wikipedia, Durov has donated 10 bitcoins (BTC) to a charity project in Russia. The coins are worth around $96,000 at time of publication. Donation will help people facing financial difficulties due to coronavirus The new donation intends to support a project backed by political activist, Yegor Zhukov — who established himself as a symbol of anti-Kremlin protests. The…

Grayscale Institutional Buyers Doubling up on Bitcoin

May 28, 2020 boss

Institutional buyers are increasing their exposure to Bitcoin (BTC) via Grayscale Investments suite of crypto trusts. Grayscale Investors’ Bitcoin Appetite Unsated According to data shared by crypto researcher Kevin Rooke via Twitter on Thursday (May 28, 2020), the firm’s bitcoin investment trust bought 18,910 BTC, although only 12,337 bitcoins were mined since BTC’s third halving on May 11. This figure indicates that Grayscale has bought almost twice the number of mined BTC since the last halving in May. Grayscale’s Bitcoin Trust bought 18,910 Bitcoins since the halving. Only 12,337 Bitcoins…

Unemployment Is Shrinking But More Pain Is Coming

May 28, 2020 boss

U.S. unemployment claims are starting to drop as businesses reopen. Millions of Americans are still unemployed; many won’t get their job back. The stock market isn’t pricing in a long recovery. The job market just took its first encouraging turn this pandemic as unemployment is starting to shrink. State-level jobless rolls dropped for the first time since the start of the pandemic, a sign people are starting to return to work amid a gradual reopening of the economy. Continuing claims fell to 21.1 million from 24.9 million for the week…

New York Man Charged With Trafficking Credit Card Info, Using Bitcoin to Launder Proceeds

May 28, 2020 boss

A New York City man has been indicted for allegedly stealing and selling reams of payment card data, the proceeds of which he laundered in bitcoin. Vitalii Antonenko, 28, was charged in the U.S District Court for the District of Massachusetts on Tuesday with conspiracy to engage in computer hacking, payment card trafficking and money laundering, according to a federal indictment. Law enforcement found hundreds of thousands of stolen payment cards on Vitalii Antonenko’s computers after arresting the Ukraine native at Kennedy International Airport in March 2019. They charged Antonenko…

Blockchain Bites: BlockTower’s Returns, Minecraft Goes Blockchain, ID2020 Shakeup

May 28, 2020 boss

BlockTower Capital, a digital asset hedge fund, managed to more than double its lifetime return in the first four months of 2020, according to investors and documents reviewed by CoinDesk. This news comes a day after Goldman Sachs denounced cryptocurrencies as an investment. Meanwhile, Samsung and Minecraft have rolled out new blockchain integrations and Russia is mulling appending mortgage documents to its national distributed ledger. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can…

Jill Carlson: What Goldman Gets Wrong About Bitcoin

May 28, 2020 boss

Jill Carlson, a CoinDesk columnist, is co-founder of the Open Money Initiative, a non-profit research organization working to guarantee the right to a free and open financial system. She is also an investor in early-stage startups with Slow Ventures. When I worked at Goldman Sachs, one of the running jokes among those around me was that I spent more time trading bitcoin than the bonds I was meant to be covering. Back in 2013, bitcoin was not taken very seriously among my colleagues. Even seven years later, I did not…

Enigma Blockchain Has a New Name and a Privacy Boost in the Works

May 28, 2020 boss

The Enigma mainnet was rebranded the Secret Network after an on-chain proposal by the community unanimously passed on May 17. The new website, Twitter and blog, among other digital assets, went live Wednesday. The Secret Network, so named to describe its decentralized governance, is an open source network that protects data for users of decentralized applications, now known as “Secret Apps.” With 28 active validators, the vote was, in part, a move to bring the different core contributors under a single, identifiable umbrella, even though they remain separate entities, in…