Day: July 17, 2020

Report Shows Bitcoin’s Covid-19 Recovery Stronger Than Other Markets With Zero Intervention

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The response to the Covid-19 pandemic has been ruthless on the global economy and during the last six months, traditional stocks and commodities have felt extreme market volatility. Coinshares published a comprehensive report this week in regard to how bitcoin performed during the coronavirus outbreak. The seven-page study highlights how bitcoin’s rebound to pre-Covid price levels has “unsurprisingly garnered attention amongst the investment community.” Coinshares’ head of research Chris Bendiksen recently published a report that discusses how bitcoin (BTC) reacted to the coronavirus outbreak and the mid-March market volatility. Despite…

It’s Not Too Late for Some Victims of the Twitter Scam to Get Their Money Back

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There are still 14 victims of the massive Twitter hack that could still get their Bitcoin back. These victims sent some Bitcoin to a hacker address, but their transactions are still unconfirmed on the Bitcoin network. They are currently hanging in limbo, or Bitcoin mempool. These transactions seem to be unconfirmed after many hours because the senders designated a very low transaction fee that’s unattractive to miners. Bitcoin Core developer Wladimir van der Laan confirmed this to Cointelegraph. “Miners pick the highest fee-rate transactions, but also might have some minimum…

Three Signs the Explosive LEND Crypto Trend Could Come To An End

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The DeFi craze is showing no signs of cooling off, and each week a new crypto token is on fire as a result. The industry’s hottest token currently, is LEND, a DeFi protocol for lending and borrowing crypto assets. The altcoin is up over 3000% in 2020 alone, but there are at least three major signs that the current explosive LEND trend is about to end. DeFi Hype Helps Yet Another Token Climb To Super Stardom The DeFi hype train is taking investors for quite a ride. Each passing week,…

38,000 People Are Watching a Fraudulent VeChain YouTube Scam Right Now

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VeChain is clearly going up in the crypto world, as it is the latest target of the classic fake livestream airdrop on YouTube. The livestream, promising to give away half a billion VET tokens, has 38,000 viewers at time of writing. Double your money It’s a time-honored scam, supposedly originating from the early days of the Runescape online video game. You give me one token, I give you two tokens back. Double your money. Simple. Except for the fact that you never get the two tokens back. The YouTube version…

Blockchain Bites: Binance’s Bitcoin Mining, ConsenSys’ Legal Trouble and Why Politicians Blame Twitter, Not Bitcoin

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In the aftermath of the Twitter hack, lawmakers are targeting lax cybersecurity, not Bitcoin. Binance is looking to consolidate bitcoin mining in Russia, ConsenSys is being accused of stealing intellectual property and a celebrated comic book artist will be hawking his wares on the Ethereum blockchain. 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 subscribe to this and all of CoinDesk’s newsletters here.  Top shelf Mining ConsolidationBinance is looking to consolidate more bitcoin mining hashrate to its pool in…

US Agency Says Chinese Drug Traffickers Used Bitcoin to Launder Proceeds

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The U.S. Office of Foreign Assets Control (OFAC), a division of the Treasury Department, sanctioned four Chinese nationals for allegedly using cryptocurrency to launder proceeds from illicit drug transactions. In a press release Friday, OFAC said Songyan Ji, Longbao Zhang, Guifeng Cheng and Guangfu Zheng, as well as Global Biotechnology Inc., provided support to the Zheng Drug Trafficking Organization under the Foreign Narcotics Kingpin Act. Zheng DTO was also listed in a previous sanctions effort by OFAC, when the division added Xiaobing Yan, Fujing Zheng and Guanghua Zheng to its Specially…

Bitcoin’s Historical Positioning Suggests an Intense Bull Trend is Looming

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Bitcoin’s price action in recent times has been lackluster, providing investors and analysts alike with little insight into the state of its macro trend. This ongoing sideways trading may not be unprecedented, however, as a look at the cryptocurrency’s historical post-halving price action suggests that this may simply be one of the initial phases of its next intense bull run. One analyst mused this possibility in a tweet, pointing to striking similarities between Bitcoin’s recent price action and that seen in years past. It is also possible that this consolidation…

Bitcoin News Roundup for July 17, 2020

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With Binance expanding its miner ambitions and Thailand’s CBDC seeing early use, CoinDesk’s Markets Daily is back with another bitcoin news roundup. Bitcoin barely moved on this week’s Twitter hack. Here’s what analysts said about why the attack had so little effect on prices. Binance is looking to consolidate more bitcoin mining hashrate to its pool in Russia and the Central Asia region.  Thailand’s digital currency is backed by the central bank’s foreign currency reserves, which have grown by $25 billion over the past 12 months. Disclosure The leader in…

$8,900 is the Bitcoin (BTC) Level to Watch This Weekend

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Quick take: Bitcoin seems to have shaken off the effects of the Twitter hack.  The King of Crypto is still trading within a tight range above $9,100. With the weekend about to kick off, $8,900 is the level to watch as losing this support zone would lead to more losses. Bitcoin seems to have handled the news of the Twitter hack pretty well. This is despite slight indications of Bitcoin dropping as a result of the Twitter hack that painted BTC as the choice of digital asset for hackers and…

PRNB Stock Up 1% as Sanofi Mulls Buying Principia Biopharma for $50B

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Sanofi is looking at potential acquisitions of U.S. biotechnology companies including Principia Biopharma, as it looks for innovative treatments for clinical areas including multiple sclerosis and immune disorders. PRNB stock price is up. Sanofi (EPA: SAN) is mulling potential buying of U.S. biotechnology companies including Principia Biopharma Inc (NASDAQ: PRNB) as it wants to try some new possible regimens for hospital situations including multiple sclerosis and immune disorders. People familiar with the situation said that the French company is trying to cooperate with its advisers in order to study potential…