Day: August 12, 2020

Lawyer to File Crypto Class-Action Seeking Billions From Social Media ‘Cartel’

boss

Andrew Hamilton, a lawyer with a background in computer science, is spearheading a class-action lawsuit accusing the social media and search giants Google, Facebook, Twitter, and YouTube for cartel-like behavior intended to kill off the burgeoning cryptocurrency sector. The suit, which has already amassed more than $600 million in claims, accuses the firms of acting as a cartel in launching a coordinated attack designed to crush competition emerging from the nascent virtual currency sector in 2018 — when the social platforms enacted sweeping bans against the promotion of crypto assets…

Margin Trading and Lending on the Crypto Market

boss

In recent years, many of you who are interested in crypto, probably have noticed the continuous growth of the number of new exchange products that help earn from lending and margin trade. In case, there are unknown terms, a short note: Margin trading is trade with the help of borrowed funds. Turning to the details,  when a trader takes out a loan on collateral and sell borrowed funds. After that, if the rate of sold coins is dropped, a trader buys borrowed funds with a lower rate and pay back…

Ripple (XRP) Nosedives 8%, Technicals Indicate A Drop To $0.25

boss

Ripple failed to clear the $0.3000 barrier and started a strong decline against the US Dollar. XRP price is down over 8% and it seems like the bears are aiming a test of the $0.2500 support. Ripple is declining and it is now trading well below the $0.3000 level against the US dollar. The price is currently approaching the $0.2750 support and the 100 SMA (H4). There is a key bearish trend line forming with resistance near $0.2980 on the 4-hours chart of the XRP/USD pair (data source from Kraken).…

100,000 Join Cointelegraph’s Blockchain Week Event in China

boss

Around 100,000 people in total attended the 2020 Great Bay Area International Blockchain Week, hosted by Cointelegraph China and Cointelegraph in Shenzhen’s Great Bay district in the first week of August. Guests were divided between those who participated online and offline, according to Cointelegraph China’s report. The conference focused on investment, industry, public chain, trading platforms, mining and other fields. There were 11 round table forums, 26 keynote speeches, and more than 100 top guests sharing industry insights. Attendees were provided with cutting edge, real time Chinese and English AI…

Venezuela May Soon Be Collecting Taxes in Crypto

boss

The Bolivarian Council of Mayors in Venezuela signed the so-called “National Tax Harmonization Agreement” for 305 municipalities in the country, including the Petro (PTR) as a means to collect payments of taxes and sanctions. The cryptocurrency is becoming increasingly widely used as the result of a new campaign.  According to the government, the vice president of Venezuela, Delcy Rodríguez, will be in charge of implementing a single registry of taxpayers through a digital consultation tool. She will also be in charge of creating an information exchange and monitoring system for…

Animoca Targets Non-Crypto Gamers by Developing Big Brand Games

boss

While investment is heating up in the blockchain gaming sector, a common criticism of crypto-powered games has been how to secure users from outside of the cryptocurrency space. Blockchain gaming powerhouse, Animoca Brands, believes that acquiring mainstream games with loyal players and exposing them to the benefits of blockchain and distributed ledger technology (DLT) is the best way to attract new audiences into crypto. Cointelegraph spoke to Yat Siu, the chief executive of Animoca Brands, to learn about his firm’s strategy for bridging the gap between the mainstream gaming and…

Flipstarter Campaign Launched to Create Viral BCH Videos for Normies

boss

Bitcoin Cash (BCH) advocate and CEO of BitcoinBCH.com, Hayden Otto, has launched a fundraising campaign to create viral videos promoting BCH to mainstream audiences — after failing to win over crypto converts to the cause. The last video produced by Otto garnered more than 100,000 views across various social platforms. He was also behind a controversial viral video last year showing a Bitcoin double spending exploit of the Binance-backed TravelbyBit payment network The campaign aims to raise 650 BCH (nearly $180,000) and has garnered 192.52 BCH (roughly $53,000) in donations…

Daily Chart Suggests Bitcoin At Risk of Extended Correction To $10,500

boss

Bitcoin struggled to clear the $12,000 resistance zone and corrected lower against the US Dollar. BTC’s daily chart suggests the price could extend its decline towards the $10,500 support. Bitcoin topped near the $12,080 level and it is currently correcting gains. The price is trading below the $11,500 support and approaching the next major support. There is a key bullish trend line forming with support near $11,240 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair could start an extended decline towards the $10,500 level…

Surging Interest in ‘Yam’ Yield Farming — But Is It Too risky?

boss

The latest craze in the DeFi sector is a new yield farming protocol called Yam which promises ‘equal opportunity’ staking with no premine, no founder shares, and a zero value token at launch. The experimental Yam Protocol is the talk of Crypto Twitter right now — with many excited about the big potential returns, while others worry about the risks. The recently launched project offers an elastic supply token, similar to Ampleforth, that can expand and contract depending on market conditions, with the aim of seeking eventual price stability and a…

NEAR Token Sale Postponed After CoinList Is Overwhelmed by Demand

boss

The highly anticipated tokensale for decentralized application (DApp) platform NEAR Protocol was postponed by 24 hours after CoinList — the exchange hosting the offering — went down around the scheduled launch time. Originally scheduled for 10 am ET on Aug. 11, the tokensale was postponed by 24 hours after CoinList was deluged by expectant traders. Its Twitter account received a flood of complaints from trader’s who had planned on participating in the offering. Disgruntled buyers compared the debacle to similar outages experienced during the platform’s first token sales conducted during…