Day: September 25, 2020

MicroBT Sets Up First Offshore Bitcoin Miner Factory to Expand US Market Share

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Chinese bitcoin miner manufacturer MicroBT is looking to grab a bigger slice of the U.S. market by setting up its first overseas production center. The company said on Friday that it has partnered with New York-based Foundry Digital LLC and a Southeast Asian company in order to improve supply chain efficiencies for North American buyers of its flagship bitcoin mining equipment. The Southeast Asian listed company – which MicroBT declined to name – is contracted to produce and deliver MicroBT’s WhatsMiner equipment to U.S. investors, who would otherwise pay an…

Why centralized exchanges will lead crypto to the future

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Decentralized exchanges are undoubtedly an exciting development in crypto. DEXs facilitate the trading of cryptocurrencies directly between users, without the need for a trusted intermediary. This, in turn, allows users to keep custody of their funds. However, while DEXs have their advantages, they still lack in terms of regulations and scalability, which are key considerations that could determine the future trajectory of the crypto industry. Centralized exchanges will continue to play a pivotal role in this ecosystem, providing the depth of liquidity needed to grow the wider crypto community. The…

AZN Stock Down, AstraZeneca Gets Immunity from EU in Vaccine Deal

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AstraZeneca has received partial immunity from the EU in a vaccine deal. The EU has already paid €336 million at €2.5 per dose. AstraZeneca Plc (LON: AZN) has received partial immunity from the European government over its potential vaccine deal. Compared to French pharmaceutical company Sanofi SA (NASDAQ: SNY), AstraZeneca’s vaccine is relatively cheap, allowing the European Union to grant liability immunity. Many pharmaceutical companies, including AstraZeneca and Sanofi, have been working on a vaccine for the persisting coronavirus. Considering the speed at which the companies are making efforts to…

Stablecoins Supply Breaks $20B Milestone, Almost 300% YTD Surge

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Stablecoins value has now hit $20 billion, a new surge. Growing investors’ demand to caution themselves from COVID-19 pandemic effects on crypto and traditional markets is attributed as the main reason.  On Thursday, the total value of stablecoins supply surpassed the $20 billion dollar mark, according to Coin Metrics data. In May, more than 4 months ago, the same data agency reported that the total supply of stablecoins had broken the $10-billion record – having earlier surged by more than 70% in less than two months. Actually, stablecoins are digital tokens…

First Mover: Tron’s Play for WBTC Shows Competition to Relieve Ethereum Congestion

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Compared with the traditional financial system, the cryptocurrency industry is evolving fast. Technologists are experimenting with the vast-reaching potential of blockchain. And regulation is typically immature, inconsistent and unevenly applied across international borders, allowing entrepreneurs to move fast and break things, as it were.  But there’s also no shortage of competition. The latest example comes from CryptoX’s Ian Allison, who reported Thursday that Tron, the three-year-old blockchain headed by Justin Sun (the crypto executive who paid $4.5 million to have a meal with Warren Buffett), has entered into a strategic alliance with custody specialist…

Here’s Why Ethereum Rival Avalanche May Be a Bull in Making

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Avalanche started trading on Binance with a bang. The latest Ethereum rival saw its native token, AVAX, rising by more than 1300 percent in its first hour of trading on September 22. A jump from $0.85 to $12.54 was enough for attracting profit-takers. Thereby, a strong sell-off ensured, and the price crashed. But despite the bearish correction, AVAX/USD up by 450 percent from its exchange rate open. The pair is consolidating sideways, showing a minimal inclination to extend its move lower. On the other hand, it appears that the token…

Blockchain industry raises concerns over EC’s proposed crypto regulations

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Major players in the global cryptocurrency community have addressed the European Commission’s new legislative proposals on digital assets. The International Association for Trusted Blockchain Applications, or INATBA, has released an initial response to the Markets in Crypto-Assets (MiCA) regulations proposed by the EC. The association features major crypto companies like Ripple, ConsenSys, and Iota. In its official response to the EC, the INATBA members expressed the industry’s concerns over the proposed MiCA regulations, calling the authority to bring their forces together in further development of the regulatory framework. While the…

How We Short Capitalism – And Finance the Revolution

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The failed revolution The internet in 2030? To answer, two assumptions: First, we are still alive. Second, things on Earth are improving for more than just a few as we shake off our 20th century monetary systems and our 18th century systems of governance.  There has been a radical transformation in these infrastructures of sociality for two main reasons: First, survival. The old political, monetary and communication structures simply cannot process the informational complexity necessary to sustain planetary life with 8 billion people. There are social movements demanding new forms…

Bitcoin Community Reacts to Russia’s Criminalization of Undeclared Crypto Activity

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Bitcoin is not welcome in Russia. The Central Bank of Russia, this year, put in place legislation that bans the issuance and circulation of cryptocurrencies. But officials in the country accept that an outright ban is unenforceable. Speaking on the country’s Digital Assets Bill, Alexey Guznov, the Director of the Bank of Russia’s Legal Department said: “Nobody is going to ban owning cryptocurrencies… [people will not be punished for owning crypto] if they made their deal in a jurisdiction that does not prohibit that.” Russian lawmakers hold firm that the…