Day: November 6, 2020

Prince Andrew vs. The American DOJ: Who Will Win?

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Prince Andrew is about to have a showdown with the American Department of Justice. Thus far, the Duke of York has not cooperated with the DOJ concerning their request for information in the Jeffrey Epstein case. But that may not be the case for very long. Prince Andrew may be taking up a fight he can’t win. Thus far, he hasn’t cooperated with the American Department of Justice with their requests for information, despite demands on both sides of the pond to do so. The question is, how much longer…

CFTC allows ErisX to clear commodities beyond crypto

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The Commodity Futures Trading Commission, or CFTC, recently approved a license modification for ErisX’s clearing house. The license amendment allows ErisX freedom to offer more trading products.  “The significance of the Amended Order is that it expands our licensed activities allowing us to clear products on other commodities beyond just virtual currencies or crypto,” ErisX general counsel Laurian Cristea told Cointelegraph.  “Now we may list futures or swaps across the commodities spectrum from new crypto related contracts such as hash rate futures or crypto indices, to event contracts, and contracts on other…

Bitcoin price nears $16K, but it’s Ethereum that may shine in November

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The price of Bitcoin (BTC) is nearing $16,000 after achieving $15,960 on Binance. Following the dominant cryptocurrency’s rally, analysts are now looking toward Ether (ETH). The Ethereum blockchain’s native token has seen heightened momentum in the past week. After underperforming against BTC in October, the probability of a new ETH rally is beginning to increase. There are two key reasons why analysts expect Ether to perform strongly in the near term. First, the capital in the Bitcoin market could move into ETH following the announcement of Ethereum 2.0. Second, ETH…

Amazon Web Services to Build Second Data Center Infrastructure in India for $2.8B

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With the new cloud region in India, Amazon will be expanding its market in the Asia region and further strengthening its stronghold in the country. Amazon AWS already offers its services to some of India’s biggest conglomerates. Amazon.com Inc (NASDAQ: AMZN) has announced its major expansion plans in Asia as its plans to invest $2.8 billion for the second data-center infrastructure for its AWS Cloud service in India. The new Amazon Web Services (AWS) cloud data center will be commissioned in the Indian state of Telangana and ready by mid-2022.…

Ripple Buys $46 Million XRP This Quarter to Offset Oversupply Worries

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Ripple’s latest Q3 2020 report shows the firm made On-Demand Liquidity (ODL) sales of $81 million this quarter. By contrast, the previous quarter had ODL sales of $33 million. In addition, the Average Daily Volume (ADV) also showed a marked increase. This quarter’s ADV is up 106% to $404 million dollars, leading to a total XRP volume in Q3 2020 of $37 billion. Source: ripple.com The solid quarterly performance is met with a new activity in “total purchases”, which came to $46 million this quarter. It refers to Ripple acting…

Russia’s central bank says the pandemic has accelerated regulators’ interest in CBDCs

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The COVID-19 pandemic has served both as an x-ray onto existing vulnerabilities in the global financial system, and as an accelerator for destabilizing tendencies, including higher sovereign and consumer debt in emerging markets. At an online meeting of the Central Bank Governors’ Club, hosted this week by Bank of Russia Governor Elvira Nabiullina, representatives were unanimous in their expectations of the far-reaching consequences of the current crisis. At the meeting, the 26 central bank representatives that convened from Central Asia, the Black Sea region, the Balkan countries and beyond, also noted…

Pony.ai at $5.3 Billion Valuation after Recent Funding Round

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The new $5.3 billion valuation is a significant increase from the $3 billion reported by Pony.ai in February. Chinese autonomous car firm Pony.ai has secured $267 million in another round of funding that brings its valuation to $5.3 billion. In total, the autonomous-automobile firm has raised $1 billion through funding. According to a CNBC report, it was a fund run by the Ontario Teachers Pension Plan Board that led the investment. Notably, other investors of Pony.ai also participated in the financing. In a press release, the CEO of Pony.ai James Peng…

Decentralized Exchanges That Use Automated Market Makers Now Represent 93% of the Market

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A recent report by Consensys says the surge in decentralized exchange (DEX) volumes in Q3 of 2020 is down to their adoption of the automated market maker (AMM). According to the report, DEXs that use AMM, a software that algorithmically creates token trading pairs, now represent 93% of the market. The good side of AMMs Already, as a consequence of using the AMM, Uniswap’s September traded volume topped $15.4 billion, a figure nearly $2 billion ahead than that of Coinbase’s. Prior to the surge in the use of AMMs, order-books…

Powell’s Call for More Stimulus Is Code for Buy Bitcoin

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The major reason why the economy took a down-plunge was as a result of the COVID-19 pandemic, the move to stock up on Bitcoin as a hedge against the imminent economic crash now seems to be a smart step. Bitcoin advocate Tyler Winklevoss has weighed in on the speech of the Federal Reserve Chairman Jerome Powell in which he called for more stimulus to be finalized by US lawmakers in order to aid the ongoing economic recovery. ‘The current economic downturn is the most severe in our lifetime. It will…