Day: October 5, 2020

Bitcoin.com Exchange Acquires BOA Exchange To Reach New Markets

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Tether’s Stablecoin Dominance Drops Below 80% as Audit Controversy Lingers On The total volume of stablecoins in circulation is closing in on the $20 billion mark, while the market-leading coin, USDT’s share of the total circulating supply continues to shrink, data from Coinmetrics shows. According to the data, USDT now accounts … read more. New Zealand Tax Agency Asks Crypto Firms to Hand Over Clients’ Personal Data The Inland Revenue Department (IRD) of New Zealand has requested that crypto companies in the country hand over their customers’ personal details, cryptocurrency…

Bitcoin Is Facing Down a Critical $30m Sell Wall at $11,000

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Bitcoin has been inching higher over the past 24 hours as the cryptocurrency market has become correlated with the S&P 500 once again. Both markets are up over the past day, pushing higher on the news that President Donald Trump is seemingly healthy despite contracting the illness spreading around the globe. If the cryptocurrency moves to $11,000 as many analysts predict it will, though, there is notable order book resistance that could mark an end to the ongoing bull trend. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After…

Stablecoins Market Cap Over $20 Billion With Tether Leading

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As CoinGecko reports, stablecoins market capitalization stood at $20,727,163,727. The success of the stablecoin industry is an indication of the growing crypto market in relation to the fiat currencies. Stablecoins global market is another booming crypto industry beyond the DeFi ecosystem that has led the recent crypto volatility. According to figures provided by CoinGecko, stablecoins market capitalization stood at $20,727,163,727 at the time of writing with Tether (USDT) being the leader of the list. In addition, the total daily trading volume stood at $26,874,910,806. Notably, stablecoins are worth more than…

Dufry to Establish Joint Venture with China’s Alibaba Group

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Swiss-based travel agency Dufry is set to establish a joint venture with Alibaba Group. Both companies have the right fundamentals to boost retail business offerings. Switzerland based travel retailer Dufry AG (SWX: DUFN) is set to open a joint venture (JV) with China’s Alibaba Group Holding Ltd (HKG: 9988). The Dufry JV plans were made known by Dufry drawing on Alibaba Group’s leadership in Chinese consumer retail and digital transformation with its global travel retail expertise. As noted by the travel retailer, Alibaba will post an equity investment in Dufry…

Dutch Blockchain Leader Sphereon and Partners, Novatore and Plamo, Win Netherlands Ministry of Justice and Security Challenge For Identity Protection

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Sphereon — together with partners Novatore and Plamo — won a contract based on a challenge that was posted by the Dutch Ministry of Justice and Security. They were awarded a contract to build a solution for the Netherlands Justis department to enable over 20,000 Special Enforcement Officers or SEOs (aside from regular police the BOAs’ are known as peace officers) to identify themselves in a privacy-preserving manner and to enable the public to easily verify the authenticity of their identity and the authorization to perform their tasks. Challenge: Digital Identity…

150,000 Mt. Gox Bitcoin won’t trigger a correction anytime soon

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There is growing speculation that 150,000 Bitcoin (BTC) from the Mt. Gox trustee could move on Oct. 15. But many factors suggest that is highly unlikely given past records. Between 2011 and 2013, Mt. Gox lost 850,000 BTC in the biggest hacking attack in Bitcoin history. The trustee reportedly has 150,000 BTC to repay users who lost their funds from the breach. Yet, there are many hurdles to undergo before the refunds can be issued. The refund process has been continuously delayed since 2019, and the refunds won’t likely happen…

NEC Acquires Swiss Financial Software Company Avaloq Group for $2.2B

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The acquisition of Avaloq will help NEC to offer cloud-based digital financial services to government agencies along with its existing data analytics and biometrics products. On Monday, October 5, Japan’s multinational giant NEC Corporation (OTCMKTS: NIPNF) announced the acquisition of Swiss financial software company Avaloq Group. As per industry reports, the acquisition happened for a deal worth $2.23 billion and will be completed by April 2021. This deal is also part of NEC’s plan to expand its footprint in the global financial services software market. Avaloq is currently the top…

Pro-Crypto PAC Giving $50 in Bitcoin to the Campaign of Each Member of Congress

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If your elected representative to the U.S. Congress has never heard of cryptocurrencies, how do you start telling them about it? Hoping to raise awareness, blockchain advocacy group Chamber of Digital Commerce’s Political Action Committee (PAC) wants to start by contributing $50 worth of bitcoin to the campaign of each congressperson.  Announced Monday, the advocacy group said under its new “Crypto for Congress” initiative all members of the U.S. legislative body would receive campaign contributions in bitcoin.  According to the group’s founder, Perianne Boring, this is an attempt to raise…