Day: January 28, 2021

Blockchain tech may have arrived too soon, but now, it’s ready

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It is a useful exercise for those of us working in tech to cast our minds back to the dot-com boom and bust of the late 1990s. There is a lot that can be learned from that time. The period was crucial for the United States and the global economy and a defining moment for the tech sector. It is helpful to consider those helter-skelter days when assessing the current crypto ecosystem. Most people will rightly point to the glut of Super Bowl ads coming in at over $2 million…

DeFi in the spotlight as legacy brokerages break down

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As legacy markets roil, brokerages break down, and accusations of market manipulation fly, longtime decentralized finance (DeFi) adherents can’t help but say “I told you so” when it comes to the need for open, unstoppable, and permissionless financial architecture.  Earlier today, popular trading app Robinhood took the possibly unprecedented step of disabling the buying functionality on certain tickers following a massive wave of retail interest in heavily shorted assets. Some commentators have pointed out the irony of Robinhood — an app that in name, marketing, and conception focuses on the…

1INCH price rallies 30% as its monthly DEX volume nears $6 billion

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This week the total value locked in DeFi platforms reached a new high at $26.2 billion and this record high was achieved even as Bitcoin price appeared to be slipping into a downtrend. This asymmetrical performance from DeFi-tokens suggests the sector has staying power and the ecosystem built up around DeFi platforms is likely to have a far reaching impact that may even alter the way traditional finance operates. As DeFi protocols gain traction, decentralized exchange (DEX) aggregators have also emerged among the thriving trading and staking market. 1inch protocol…

Rob from the poor and give to the rich? Robinhood prompts furious backlash after restricting trades

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Mere hours after once popular trading app Robinhood announced it would be suspending purchases of stocks pushed by retail investors on Reddit, and the community backlash has been swift and harsh. This morning, Robinhood said it had restricted transactions for American Airlines, AMC Entertainment, Blackberry, Best Buy, Castor Maritime, Express, GameStop, Koss Corporation, Naked Brand Group, Nokia, Sundial Growers, Tootsie Roll Industries, and trivago N.V. Though the trading app claimed the action was due to “significant market volatility,” the timing is suspicious given many of the stocks in question were…

Bitcoin Developer Jonas Schnelli Receives Open-Source Grant

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Marathon Patent Group (MARA) announced Thursday it will bankroll the work of Bitcoin Core developer Jonas Schnelli. Previously, Bitmain funded Schnelli’s work before nixing the grant last year. “As one of the largest bitcoin mining firms, we believe it is essential that we do our part to help advance the Bitcoin network. Absent core developers like Jonas, Bitcoin’s efficacy and long-term adoption, and therefore our business, could be impacted. This grant will allow Jonas to continue his important work on our collective behalf,” Merrick Okamoto, Marathon’s chairman and CEO, said…

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io 💰 Bybit: $600 BONUS 💰 Use This Voucher Code: JACKPOT BITCOIN TODAY: In this video, I’ll go through the Bitcoin news today & I’ll make a Bitcoin price analysis. I make 1 video every single day about crypto news & BTC. I’ll always include professional Bitcoin technical analysis, to make a Bitcoin price prediction, and I’ll also show you the most relevant news for BTC investing & trading. Please subscribe and leave a THUMBS UP! ⭕️ To sign up to Bybit from…

Bitcoin Bull Run and Rising Awareness of Digital Currencies Led to a 20% Increase in Crypto Related Lawsuits in China – Regulation Bitcoin News

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A report from China says as many as 872 lawsuits relating to cryptocurrencies were filed in the past year, a figure which is approximately 20% more than that of 2019. Using data obtained from the China Judgment Document Network (CJDN), the report shows that the province of Guangdong had the highest number with 106. Completing the top three provinces with the highest number of lawsuits is Zhejiang with 103 and Sichuan with 54. The Case of a Bitcoin Bull Market and Rising Lawsuits In terms of the nature of the…

Canada’s Ninepoint Launches Bitcoin Fund Following $180M IPO

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Ninepoint Partners has announced the launch of its Bitcoin Trust following a hugely successful CAD $230 ($180 million) initial public offering (IPO). The shares are now live on the Toronto Stock Exchange with ticker symbols “BIT.U” and “BIT.UN,” according to a press release on January 27, 2021. Ninepoint Unveils Bitcoin Trust  Despite the current more than 10 percent slump in the price of bitcoin (BTC) since attaining an all-time high of $42k, the confidence of institutional investors in the orange coin remains very high.  In the latest development, Ninepoint Partners,…

Ray Dalio does 180 on Bitcoin, calls it ‘one hell of an invention’

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Ray Dalio, the famed founder of Bridgewater Associates, called Bitcoin (BTC) “one hell of an invention,” adding that he’s considering digital-asset investing for clients wishing to protect against currency debasement.  In a note to clients that was obtained by Bloomberg News, Dalio called Bitcoin’s store of value characteristics an “amazing accomplishment” and one of the few “alternative gold-like assets at this time of rising need for them.” He said: “To have invented a new type of money via a system that is programmed into a computer and that has worked…