Day: November 3, 2020

Are STOs and Crowdfunding Making a Comeback? CoinMetro’s Kevin Murcko Answers

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We recently had an opportunity to chat with Kevin Murcko, the CEO of CoinMetro — a leading cryptocurrency exchange and trading platform. As a part of our conversation, we asked Kevin a few questions regarding the platform, its future, and more importantly, their Bond Sale. Here is what he had to say: Q: Let’s start with the basics. What is CoinMetro? How is it different from other exchanges out there in today’s crypto market?A: CoinMetro was built with a vision that collectively we are building the future of finance. In…

HSBC Carries Out Bangladesh’s First Blockchain Letter-of-Credit Transaction

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The Bangladesh arm of HSBC, one of the world’s largest banks, has completed the country’s first cross-border blockchain trade finance transaction. According to a press release on Tuesday, the digitized letter of credit (LC) transaction brought a notable reduction in the processing time compared with traditional methods – down from the average of five to 10 days to under 24 hours. The move signifies an important step for Bangladeshi companies in the digitalization of trade, the bank said. The maiden transaction related to the import of 20,000 tonnes of fuel…

3 Reasons Why Yearn Finance (YFI) Fell Below $10K — Recovery Ahead?

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Yearn Finance’s native token YFI debuted with an explosive price rally, surging from zero to over $44,000 in just 45 days of trading. But as hopeful traders anticipated an extended bull run towards $100,000, bearish catalysts pulled the rug under their feet. The YFI/USD exchange rate crashed by almost 78 percent from its all-time high near $44,026. At first, the downside move appeared as a natural price correction that typically follows major upside rallies. Nevertheless, YFI failed to find a concrete support level, showing that traders were in no mood…

Saudi Aramco Feels Pandemic Impact as Net Profit Falls 45%

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The COVID-19 caused the crude oil prices to drop to an unimaginable position forcing almost all oil producers including Saudi Aramco to respond by cutting capital expenditures. Saudi Aramco (TADAWUL: 2222) was severely affected by the global pandemic which has done a lot of damage to the demand for oil affecting its price. According to a report, the company recorded a 44.6% fall in its net profit in the third quarter of the year compared to the recorded profit in the same period in 2019. In the third quarter of 2019,…

‘Bond King’ who called Bitcoin a lie now says BTC is a hedge against inflation

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Bitcoin (BTC) is a recommended hedge against fiat currency inflation along with gold, one of its well-known critics now says. In an appearance on Rosenberg Research’s webcast series on Nov. 2, Jeffrey Gundlach, CEO of investment management firm DoubleLine, produced rare praise for Bitcoin. Bitcoin vs. gold 1-year chart. Source: Skew Gundlach tips Bitcoin and gold for fiat protection Gundlach, informally known as the “Bond King,” is no stranger to discussing Bitcoin, but had previously made it clear that he would not invest. In an interview with Business Insider last…

‘Bond King’ who called Bitcoin a lie now says BTC is a hedge against inflation

boss

Bitcoin (BTC) is a recommended hedge against fiat currency inflation along with gold, one of its well-known critics now says. In an appearance on Rosenberg Research’s webcast series on Nov. 2, Jeffrey Gundlach, CEO of investment management firm DoubleLine, produced rare praise for Bitcoin. Bitcoin vs. gold 1-year chart. Source: Skew Gundlach tips Bitcoin and gold for fiat protection Gundlach, informally known as the “Bond King,” is no stranger to discussing Bitcoin, but had previously made it clear that he would not invest. In an interview with Business Insider last…

$100 Million of Tether Swapped from Tron Network to Ethereum Blockchain

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$100 million worth of Tether (USDT), a leading stablecoin, has been transferred from the Tron network, a blockchain-based decentralized operating system, to the Ethereum blockchain, according to Paolo Ardoino, Bitfinex and Tether CTO.  Ethereum is making headways Ethereum has been stamping its dominance in the recent past because of its growing adoption in the booming decentralized finance (DeFi) sector, as well as other projects like decentralized applications (Dapps) and smart contracts.  Therefore, this superiority explains why Tether has been undertaking routine chain swaps from the Tron network to Ethereum, with the latest…

Meet the Projects Pushing Stablecoin Adoption

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In the last year, stablecoins have gone from representing just a tiny fraction of global cryptocurrency trading volume to more than half of it. This, because more users than ever before now use stablecoins to exit volatility, invest, and make payments. But in order for stablecoins to truly achieve mass adoption, they need to appeal to a wider audience, including those that have never used cryptocurrencies before and those simply looking for a safe haven asset during times of crypto market volatility. To help push this ambition, a number of…

Vitalik Buterin ventures three reasons why prediction markets are pro-Trump

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On the eve of the United States presidential election, most mainstream polls are pointing to a highly likely Joe Biden victory, though this isn’t reflected in crypto prediction markets. For Ethereum co-founder Vitalik Buterin, the “big difference” between them presents something of a puzzle, and he’s offered three guesses as to why such a disparity has emerged. In what he posed as a pro-prediction market or favorable view, Buterin suggested that these markets “correctly incorporate the possibility of heightened election meddling, voter suppression, etc. affecting the outcome.” In contrast, statistical…