Day: October 13, 2020

3 Reasons Nasdaq Will Smash November Earnings Gloom

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The Nasdaq Composite has rallied 11.69% in the past 20 days, recovering towards an all-time high. In the near term, the U.S. stock market faces numerous threats, including rising COVID-19 cases heading into the winter season. The strong performance of Big Tech, a possible post-election stimulus, and vaccine breakthroughs could fuel equities in November. The Nasdaq Composite faces several threats in the fourth quarter that could potentially hinder its strong technical momentum. But numerous vital catalysts could uplift its momentum, particularly after the presidential election. The three critical factors for…

IBM Launches Blockchain Health Pass to Aid Reopening of Public Places

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The initiative taken by IBM Watson Health to develop the Digital Health Pass is one of the many innovations that is currently being explored by the company. IBM Watson Health, a division of Management Consulting firm IBM Corporation (NYSE: IBM) is set to debut a mobile-based blockchain application dubbed Digital Health Pass to help in health verification status in order to aid the safe reopening of public spaces. Per the update on the project’s website, the IBM mobile digital Health Pass will be available for downloads and it prioritizes customer’s…

Chainwire with MarketAcross to Streamline Press Release Distribution

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As a result of the partnership with MarketAcross, Chainwire customers will have a wide range of packages to access based on their budget. The Chainwire organization dubbed a one-stop-shop for cryptocurrency and blockchain-related news has partnered with MarketAcross, a leading blockchain press release and marketing firm to further streamline automated press release distribution services. According to the press release sent out to different publishers, Chainwire aims to address a major gap in the blockchain industry where there has been a lapse in connecting the complex blockchain industry with relevant readers.…

Revolut Close to Applying for U.S. Bank Charter

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European fintech giant Revolut will soon be operational in California once it gets the license to carry out its activities throughout the United States. According to a CNBC report, Revolut — the continent’s largest fintech entailing 13 million users — will, within the next few weeks, apply for a bank charter with the Division of Financial Institutions of California and Federal Reserve Bank of San Francisco, U.S. An unidentified person has revealed that the London-based fintech firm will use interstate agreements to operate widely throughout the U.S. even though its…

Competition for global crypto derivatives market dominance heats up

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At the start of October, the crypto market was faced with extremely tumultuous financial conditions, thanks in large part to the recent filings against BitMEX, which saw the company’s top brass being indicted by the United States Commodity Futures Trading Commission on several charges. Not only that, but just a few days before the BitMEX scandal came to light, cryptocurrency exchange KuCoin was hacked to the tune of over $275 million on Sept. 26. In the midst of all this, the crypto derivatives market also witnessed a major development in…

DeFi Token LEND Turns Into AAVE With a 25% Price Surge; What’s Next?

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The transformation of Aave’s native asset LEND into a new symbol, titled “AAVE,” has begun with a 25 percent price surge. In retrospect, the team behind Aave announced two weeks ago that it would transfer its ownership of the lending protocol to a “genesis governance” built following a community vote. The ayes came in favor of the protocol upgrade last week. LEND was the governance token of the previous Aave protocol. The team proposed to convert the old cryptocurrency to the one that would be more compatible with the genesis…

China Awards 200 Digital Yuan to Residents Who Applied for Lottery

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The free digital yuan currency awarded in the lottery can be spent only in 3389 stores that are set up to handle electronic payments. As China continues to roll out its digital yuan currency gradually into the market, some Shenzhen residents had something to celebrate on Monday as they received free digital yuan into their wallets. According to media outlet AsiaOne, 1,913,847 Shenzhen residents signed up to take part in the latest trial for China’s sovereign digital currency. However, only 2.61% of the applicants were successful and received 200 digital…

Ethereum 2.0 Rolls on With Prysm Client Web Interface Release

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Following the Spadina testnet failure at the end of September, the Ethereum 2.0 Phase 0 rollout looked in serious jeopardy. Billed as a dress rehearsal for ETH 2.0 genesis, core developer Danny Ryan reported several issues with the Spadina run. The most pressing problem was the long wait times for transactions to become irreversible. Ryan attributed many of the issues to the low participation rates, which is expected in an uncentivized testnet. He also brought up the poor client distribution, which saw the majority of participants opt for using the…

European Central Bank seeks public input on digital euro

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The European Central Bank launched a public consultation on a potential digital euro on Oct. 12.  Developments on the central bank digital currency front in the Eurozone have picked up pace amid the COVID-19 pandemic, and the central bank has framed its introduction to the public consultation with the claim that the issuance of a CBDC could help “cushion the impact of extreme events — such as natural disasters or pandemics — when traditional payment services may no longer function.”  Earlier this month, a Bloomberg report claimed that the ECB…