Day: September 15, 2020

Blockchain Bites: MicroStrategy’s BTC Buy, Bitmain’s Power Struggle, Paxful’s Goodbye

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MicroStrategy has put even more of its treasury into bitcoin, Paxful is pulling out of Venezuela and the Bitmain power struggle appears to have found a short-term solution.  Top shelf Bitcoin buyMicroStrategy, a business intelligence company, told the U.S. Securities and Exchange Commission on Monday it “may increase” its BTC holdings beyond the $250 million haul purchased in August. The morning after: it did. Microstrategy has acquired an additional $175 million worth of BTC in a single purchase. These blockbuster buys transformed much of MicroStrategy’s cash reserves into bitcoin, placing the Nasdaq-traded firm among…

Wall Street Legend Jim Cramer, Now Owns Bitcoin (BTC)

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Quick take: Mad Money’s Jim Cramer is the latest Wall Street Legend to purchase Bitcoin Mr. Cramer revealed his decision to own BTC via a Twitter conversation with Tyler Winklevoss Bitcoin looks primed for a short-term move up above $11k On a Macro level, Bitcoin could be readying for a bigger move up using PlanB’s stock-to-flow model Mad Money’s Jim Cramer is the latest Wall Street Legend to become a Bitcoiner. Mr. Cramer revealed via twitter that he had bought some Bitcoin for his kids and the BTC was currently…

Bitcoin Could Soon See Explosive Momentum if It Shatters One Key Level

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Bitcoin’s bulls are flexing their strength today, pushing the benchmark digital asset towards $11,000 as they attempt to reverse the recent downtrend that it has been caught within. There’s no doubt that today’s move – coupled with that seen yesterday – is positive for the crypto’s near-term outlook, but it is important to keep in mind that BTC has yet to break above its key $11,000 resistance. This price region was previously strong support, and a failure for it to be decisively reclaimed could prove to be dire for the…

Bitcoin News Roundup for Sept. 15, 2020

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With BTC crossing into bullish territory and a new smart contract-powered tokenized DeFi Index, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Bitcoin (BTC) has crossed into the bullish territory but may remain vulnerable to another sell-off in stocks. Data company DeFi Pulse and investment-minded Set Protocol have created a permissionless index of the very best DeFi tokens, called the DeFiPulse Index. Michael Saylor, the founder of MicroStrategy, said Tuesday his company has acquired an additional $175 million in bitcoin (BTC) in a single purchase. DeFi lending…

Coinbase and Circle Add Algorand Blockchain to Multi-Chain USDC Stablecoin Framework—Faster than Ethereum

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Coinbase and Circle Centre Consortium have expanded USDC from Ethereum to Algorand’s blockchain as part of its multi-chain USDC framework—to bring scalability and performance improvements to the digital dollar stablecoin for global consumer payment adoption. The Coinbase and Circle Centre Consortium which oversees the governance of the US Dollar Coin (USDC) has released a mainnet implementation of the stablecoin on the Algorand blockchain. The additional support of Algorand is to ensure USDC has the flexibility to support everything from emerging DeFi projects to large-scale financial institutions as an official chain…

Is Cross-Chain Technology Future of Blockchain?

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An increasing number of crypto projects are now utilizing cross-chain technology, clearing the way to an interconnected blockchain environment. Cross-chains are beginning to dominate the blockchain landscape, with projects increasingly looking to interoperable solutions. In May a single transaction on Ethereum created more wrapped Bitcoin (wBTC) than the entire value of BTC held on the Lightning Network. The strength of wBTC has only continued to grow since, as greater numbers of individuals seek to unlock defi applications with the value of their bitcoin holdings. The Total Value Locked in wBTC has shown little sign…

Aave, Synthetix, Eight Others Join Huobi-Backed Global DeFi Alliance

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By joining the Global DeFi Alliance, the new members are expected to support the core visions of the body which involve assisting in the development and adoption of DeFi at a global scale. Huobi’s Global DeFi Alliance has welcomed Aave, Synthetix as well as eight other Decentralized Finance (DeFi) protocols into its fold. With the alliance floated with its five founding members back in August, the new members have brought the alliance’s membership to 15. With decentralized finance platforms, protocols, and offerings stirring a paradigm shift in the world of…

Tron legitimized a project before it pulled an exit scam, community says

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The Tron (TRX) community is accusing the Just Foundation of whitelisting a “DeFi project” that eventually pulled an exit scam, pocketing about $2 million in TRX tokens. According to a post on Tron’s subreddit, the foundation created a token whitelist for its Uniswap clone, JustSwap, to curb instances of fraudulent tokens and projects. The project in question, Tron Supernode, can still be found in the whitelist, even though the website has been completely deactivated as the community reported that withdrawals were disabled. According to the community, the project’s Telegram channels…

SNE Stock Down 1.5% as Sony Cuts PS5 Production Budget

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Sony stock has received an average of a ‘buy’ rating from 25 credible analysts. This is a strong indicator that the shares are experiencing a buy pressure and likely to hit its ATH set in mid-march of 2000. Sony Corp (NYSE: SNE) stock has dropped nearly 3% during Tuesday’s pre-market trading session. This drop was attributed to a report that the company has cut its production budget for its latest PlayStation – PS5. At the time of writing, Sony stock was trading around $76.59 (-1.47%). The shareholders of the Japanese…

BitPay decides to let all employees work from home permanently

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Bitcoin (BTC) payment and wallet company BitPay has chosen to take its company’s working atmosphere remote, permanently. A poll from within the company revealed: “85% of employees preferred to work from home and felt they were more productive,” said a Sept. 15 statement. “This insight coupled with the continuation in business, is a main reason the company chose to make working from home permanent.” As a niche largely held within the digital world, the crypto space often sees companies and individuals working remotely. A growing trend in light of COVID-19…