Day: September 1, 2020

Three of Australia’s “big four” banks bring bank guarantees on blockchain

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Three of the “big four” Australian banks are forming a new company called Lygon to digitize bank guarantees using blockchain technology.  Bank guarantees are an official contract between a debtor and a financial institution. It ensures the debtor and the debt provider that the debt will be paid on time under all circumstances. The Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia and Westpac Banking Corporation along with two other shareholders — the Australian shopping center company Scentre Group and technology behemoth IBM — are forming the…

Square Rallies As Stock Mania Stresses Rival Robinhood with Outages

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Robinhood suffers an outage as Bloomberg reveals an SEC probe of previous outages in March. On this major trading day, several other brokerage platforms went down. But Square Payments’ CashApp emerged unscathed, giving its stock a boost. Monday was brutal for stock brokerage app Robinhood. The same day the Bloomberg reported an SEC probe into March outages, Robinhood had another blackout. The go-to investing app for Millennials wasn’t the only brokerage to go down Monday as stock fever continues to boil over. Just as freshly split Apple (NASDAQ:AAPL) and Tesla…

Binance may know who is behind the 1,400 BTC Electrum wallet hack

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On Aug. 30, a Github user made a post about losing 1,400 Bitcoin (BTC) via an elaborate hack that affected his Electrum wallet. N-chain analysis indicates that the hackers had a Binance account and that some of the transactions used to move the stolen coins may have originated in St. Petersburg, Russia. However, It is important to note that conclusions afforded by on-chain research are generally more probabilistic than deterministic.  On-chain analysis of the hack. Source: Cointelegraph, Crystal Blockchain. Even so, there is no clarity on how the attack was…

Class action lawsuit targeting Tezos ends in $25M settlement after 3 years

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The three-year-long class-action lawsuit targeting Tezos (XTZ) has come to a conclusion after Judge Seeborg approved Tezos’ $25 million settlement on Aug. 28. According to the judgment, the funds will be distributed among “all persons and entities” who participated in Tezos’ 2017 initial coin offering (ICO) from July 1 to July 13 and sold their XTZ for a loss before Nov. 25, 2019, did not sell their tokens before Nov. 25, or are unable to access their XTZ due to lost passwords. Eligible parties must file a claim to receive…

Ripple (XRP) Gains Traction Following Ethereum’s Rise: $0.30 Seems Key Hurdle

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Ripple is rising and it is gaining bullish momentum above $0.2880 against the US Dollar. XRP price is likely to test the $0.3000 barrier, considering the recent sharp rise in Ethereum. Ripple is showing a lot of positive signs above the $0.2850 and $0.2880 levels against the US dollar. The price is testing the $0.2920 resistance and it is well above the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $0.2830 on the hourly chart of the XRP/USD pair (data…

Blockchain platform connects Indian farmers to UAE food industry

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Food industry officials in the United Arab Emirates may soon have a blockchain-based supply chain to obtain agricultural products directly from India. According to an Aug. 31 report, officials in the United Arab Emirates (UAE) will be using Agriota E-Marketplace, a new platform that employs blockchain technology to bridge the gap between farmers in India and the nation’s food industry. Agriota reportedly provides transparency by verifying the food supply chain from Indian farms to food processing companies, traders and wholesalers in the UAE. Essentially, the platform will allow Indian farmers…

Ethereum Rallies 5%: Here’s What Could Lead It To $500 Milestone

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Ethereum extended its rally by 5% and it broke the $440 resistance against the US Dollar. ETH price is likely to break the $450 resistance, above which the bulls might aim $500. Ethereum is gaining momentum above the key $430 and $435 resistance levels. The price is now trading well above the $430 level the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $438 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct a few points, but…

Vitalik Buterin compares DeFi tokenomics to the Fed’s money printer

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Vitalik Buterin, the co-founder of Ethereum (ETH), has again taken to Twitter to warn against naive bullishness in the decentralized finance (DeFi) sector, comparing the economics of yield farming tokens to the Federal Reserve’s money printing. Yield farming – providing liquidity to earn interest in the form of tokens – has taken the crypto community by storm and sparked the DeFi boom. However, Buterin highlighted the aggressive supply inflation of many governance tokens, saying this puts downward pressure on the prices of “coins that are getting printed nonstop to pay…

Bitcoin is About to See Strong “Liftoff” if It’s Able to Hold One Crucial Level

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Bitcoin price is trading in a bullish zone above the $11,600 support against the US Dollar. BTC is likely to gain strong momentum above $11,800 as long as it is above $11,550. Bitcoin is following a nice bullish path above the $11,550 and $11,600 support levels. The price is facing hurdle near $11,800, but it is well above the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $11,580 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…