Day: August 26, 2020

Binance Futures to Launch DEFI/USDT Index

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Leading DeFi tokens that make up the Binance DEFI composite index includes Chainlink (LINK), Maker (MKR), 0x (ZRX), Band Protocol (BAND), Kava.io (KAVA), Kyber Network (KNC), Compound (COMP) and Aave (LEND). Major cryptocurrency exchange Binance has announced it will be launching a DEFI/USDT composite index perpetual contract, billed to commence trading on August 28 at pixel time 7:00 AM (UTC). The Decentralized Finance composite index will be yet another of Binance’s recent innovations to own a larger market share by targeting investors who may have diverse trading and investment needs.…

Blockchain Bites: Major Acquisitions, Bitcoin Futures Liquidations and the SEC’s New Rules

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FTX acquired Blockfolio, ConsenSys acquired Quorum and police have seized the third-largest exchange in South Korea. And news broke the U.S. Securities and Exchange Commission (SEC) has formalized new “accredited investor” rules. 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.  Breaking news The U.S. Securities and Exchange Commission (SEC) has formally adopted new accredited investor rules, expanding the group of Americans who can invest in private securities. The new definition,…

Bitcoin is Forming an “Ugly” Weekly Candle as Upwards Momentum Falters

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Bitcoin is showing some signs of weakness as its price hovers around its key near-term support at $11,300. Bulls have been able to post an ardent defense of this level throughout the past day, with each dip below it being met with massive inflows of buying pressure. Earlier this morning, sellers forced BTC to lows of $11,275, at which point the benchmark crypto saw a sharp rebound that led it back up towards $11,400. Despite the strong support at this level, the recent decline struck a heavy blow to Bitcoin’s…

First-Ever World Stablecoin Summit to Connect Leading Global Projects

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Place/Date: Geneva, Switzerland – August 26th, 2020 at 4:00 pm UTC · 3 min read Contact: Robert Penington, Source: World Stablecoin Association Photo: World Stablecoin Association  The World Stablecoin Association (WSA) will host the first-ever World Stablecoin Summit on Thursday, August 27, 2020, streamed live on Zoom, Youtube, and within the Crypto Convention Center in Decentraland. Decentraland is an interactive virtual reality where users can explore booths and speaking halls, presenting an opportunity to foster community engagement and interaction for top blockchain projects during these unprecedented times. The World Stablecoin…

Bitcoin News Roundup for Aug. 26, 2020

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With bitcoin’s silver lining and Ribbit’s $350 million “Blank Check,” CoinDesk’s Markets Daily is back for your latest crypto news roundup! Bitcoin’s latest price drop may have a silver lining. While it’s unclear how much Ribbit Leap will focus on crypto or blockchain acquisitions, it comes at a time of renewed exuberance in the sector. The deal is a strategic play for FTX, whose clientele consists largely of quants and professional traders, to attract more retail customers. Brazil’s crypto scene has been unbanked, unregulated and awash in legal uncertain for…

Russia’s Sberbank and S7 Collaborate in Tokenization of Flight Tickets

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The Sberbank’s collaboration with S7 Airlines, which is a member of the global aviation alliance, is another step towards stamping its commitment to innovation. Blockchain-based tickets will soon be a reality for customers of S7 Airlines if the collaboration between Sberbank and the airline goes through. Sberbank is the largest Russian bank owned by the government. The latest proposition will enable corporate clients to make bookings through smart contracts the new ticketing system will be built on. Kommersant, a local news media reported on August 26 that the token-based tickets…

iPhone Escapes Q2 Smartphone Slump—3 Reasons Why Apple Will Hit $3T

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iPhone sales dropped by 0.4% year-over-year, while Samsung, Huawei, and other top brands recorded 5.8% to 27.8% drops. A stock split, expectations of a “supercycle,” and thriving iPhone sales could raise the chances of Apple reaching $3 trillion. The more affordable iPhone SE sees growing popularity in Asia, buoying investor sentiment around Apple. The global smartphone sector recorded a sales drop of around 20% in the second quarter. Apple’s iPhone came out strongly, as sales flatlined from April to June. Analysts say Apple’s growing presence in China allowed the tech…

Bella Thorne’s Wild OnlyFans Success Exposes Black Stars’ Cruel Plight

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Former Disney star Bella Thorne has joined OnlyFans. According to Thorne, she made over a million dollars just 24 hours after she joined the platform. Why is she being applauded for making an OnlyFans, when Black content creators — who were the first to put OnlyFans into the mainstream — get slammed and criticized? Congratulations are in order to Bella Thorne. The former Disney star has done what few have been able to do before her: completely shed her “good girl” image and make a way for herself on the…

Who’s Really Benefiting from the Surge in Consumer Spending?

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Consumer spending continues to rebound from March lows. There’s been a growing divergence between spending and small business revenue. Consumers are spending more at big, publicly-traded businesses. After dropping over 30% from its peak, consumer spending has nearly recovered. Now it’s down just 5% from its February highs. As with most of the economic data out there right now, amid that good news is some bad news, particularly for small businesses. Consumer Spending Rises, But It’s Concentrated on Bigger Companies The past few months have seen a continued rise in…

Xiaomi Reports Revenue of $7.77B in Q2 2020

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Xiaomi more than doubled net income to $716 million in the Q2, beating the highest analyst estimate. Sales increased by 3.1% to 53.5 billion yuan. Xiaomi’s overseas business has recovered to pre-COVID-19 levels. Chinese electronics company Xiaomi Corporation (HKG: 1810) announced revenue of $7.77 billion for the Q2 that ended in June this year. That represents a rise of 3.1% since the same period last year and more than a 7.7% growth during the previous quarter as the Chinese smartphone maker is noticing a rise in most of its overseas…