June 3, 2020

Blockchain Bites: Avanti’s Angel Round, Civil’s Closure and a Data Breach

June 3, 2020 boss

Data BreachCoincheck has fallen victim to a data breach after attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange. The Japanese firm said Tuesday that an unknown third party gained access to an account it held with domain registration service Onamae.com. An incident notice suggested the attackers then used its .jp domain account to send “fraudulent” emails to customers. Hard ForkEthereum Classic completed its “Phoenix” hard fork making the network fully compatible with Ethereum. The hard fork represents a major departure for Ethereum Classic, which is sticking…

Blizzard Tweeted About Black Lives Matter – But Gamers Aren’t Having It

June 3, 2020 boss

Publisher Blizzard voiced its support for the Black Lives Matter protests in the United States. Gamers and critics have pointed to the perceived hypocrisy of the publisher’s stance after last year’s blitzchung controversy. The debacle saw Blizzard ban Hearthstone pro blitzchung after he expressed support for the Hong Kong protests live on air. Gaming publisher Blizzard had to have known that their show of support for the George Floyd protests wasn’t going to go over well. But they did it anyway, and boy did gamers let them have it. Blizzard…

Bitcoin News Roundup for June 3, 2020

June 3, 2020 boss

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The Stock Market Is Surging to Record Highs & the Fed Will Do Anything to Keep It There

June 3, 2020 boss

The Fed hasn’t ruled out negative interest rates. If it wants the stock market rally to continue, the central bank will probably have to resort to below-zero rates. Without more Fed action, the U.S. economy probably can’t pull off a V-shaped recovery. The U.S. stock market is trading remarkably close to all-time highs. Investors have remained bullish on the nation’s long-term prospects despite worrying economic data. Much of that optimism has been fueled by the Federal Reserve, whose ever-expanding balance sheet has provided a formidable backstop for financial markets. The…

Top Traders Debate Future of BTC After Bitcoin Price Drops to $8.6K

June 3, 2020 boss

The price of Bitcoin (BTC) suddenly dropped from $10,000 to $8,600 on BitMEX as nearly $140 million worth of long contracts were liquidated. The pullback came merely 16 hours after BTC surged to $10,473, testing the dreaded $10,500 resistance level. Bitcoin typically sees a heightened level of volatility when it approaches key dates. Crucial periods in the cryptocurrency market include CME futures expirations and the closure of a weekly or monthly candle. The 14% price plunge, which happened within merely five minutes, occurred without any futures or options expiration dates…

Lea Michele Isn’t Just a Spoiled Celebrity – Her Behavior Is Seriously Gross

June 3, 2020 boss

Lea Michele posted a tweet in support of George Floyd. Her “Glee” co-star responded by reminding her of the time she wanted to “s**t” in her wig. What more is there to say about that? Lea Michele never thought her statement in support of George Floyd would go so far left. The former “Glee” star posted a tweet in an attempt to support the #BlackLivesMatter movement. But what she probably didn’t expect was her former co-star, Samantha Ware, sharing a graphic story about her experience with Michele on set in…

You Won’t Believe How Quickly the Housing Market Is Heating Up

June 3, 2020 boss

A closely-watched gauge of housing market demand hasn’t just recovered – it’s surged 18% over previous-year levels. Mortgage applications for home purchases have climbed for seven consecutive weeks. Threats remain, but for now, the housing market is heating up faster than almost anyone expected. There was always hope that the U.S. housing market would recover quickly from its lockdown blues. But it’s unlikely that even the most bullish economists foresaw that it would snap back this rapidly. This Housing Market Data Is Seriously Impressive Mortgage applications for home purchases are…

World’s Second Largest Bitcoin Mining Wants to Lend you Bitcoin, Partners with BlockFi

June 3, 2020 boss

China’s Poolin is bolstering its cryptocurrency lending business. The firm announced a partnership with BlockFi, the U.S.-based lending firm late on June 2, 2020. Bitcoin Liquidity for Miners As reported on Coindesk, Poolin’s mining business will now expand to include more lending and financial services. New York’s BlockFi will act as an “interbank lender,” proving much-needed liquidity to facilitate lending and serve as a capital source for Poolin. Poolin, which runs mining pools across China and other locations, first offered crypto lending services in February 2020 via its Singapore-owned wallet…

Cardano (ADA) Recovers After Market-Wide Crash, But Crucial Metrics Spell Trouble

June 3, 2020 boss

The last few days have been quite dramatic in the cryptocurrency industry, for Bitcoin to Cardano. On Monday, Bitcoin sliced through the $10,000 resistance level for the first time since the beginning of the year. Following the upswing, some of the most prominent analysts in the industry affirmed that the increasing rift between the U.S. and China could propel BTC towards its all-time high. A few hours later, however, the flagship cryptocurrency plummeted by $1,000 in less than five minutes. The plunge liquidated more than $100 million worth of long…