Day: January 29, 2021

New project uses rollups to build Linux-based decentralized computer

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The Cartesi team thinks rollups can be used for more than just Solidity smart contracts. Layer-two project Cartesi has unveiled a rollup-centric design for its Cartesi Machine, a Linux-based virtual machine that would allow developers to run any type of computing application secured via blockchains. Cartesi’s design uses a slightly modified version of Optimistic Rollups, a layer-two technology developed within the Ethereum ecosystem, to power its virtual machine. In contrast with Optimism’s implementation, which uses this type of rollups primarily to maintain full compatibility with Ethereum smart contracts, Cartesi wants…

Robinhood suspends instant deposits for crypto purchases over DOGE spike

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Stock and cryptocurrency-trading platform Robinhood has temporarily disabled instant deposits for cryptocurrency purchases as of Jan. 29, citing “extraordinary market conditions.” Users are still able to buy cryptocurrency using settled funds that have previously been deposited, although such deposits can take up to five business days to clear. A Robinhood spokesperson told CNBC that the company would “keep monitoring market conditions and communicating with our customers. Robinhood has faced recent criticism for suspending trading in a number of traditional stocks, including GameStop, which were being supported by retail investors to…

Reddit co-founder hoists the Bitcoin flag on Twitter amid price surge

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Reddit co-founder Alexis Ohanian has joined Twitter CEO Jack Dorsey and Tesla CEO Elon Musk in updating their Twitter bios to “#Bitcoin.” Ohanian’s bio update seemed to be in response to a tweet by tech entrepreneur and former Coinbase chief technology officer Balaji Srinivasan. As part of the tweet, Srinivasan highlighted the growing appeal of Bitcoin to the likes of Musk and Dorsey, calling  Bitcoin (BTC) “the flag of technology.” Ok changing the bio…..#Bitcoin https://t.co/LOYYdRAfqY — Alexis Ohanian Sr. 7️⃣7️⃣6️⃣ (@alexisohanian) January 29, 2021 The Reddit co-founder is a known crypto…

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Dogecoin (DOGE) Gets Pushed Up in Ranking amidst Pump in Price

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At the time of writing, DOGE is in the 10th position with a market cap of $7 billion. It is a wild world on Reddit and Twitter as Dogecoin (DOGE) was targeted as the cryptocurrency befitting to be pumped as the shares of American video game retailer GameStop Corp (NYSE: GME) has been over the past days. As reported by CNBC, a frenzy on the Reddit chatroom dubbed ‘SatoshiStreetBets’ aimed to make Dogecoin the cryptocurrency equivalent of GameStop by pumping the price through mass retail buy-ups. According to data culled…

Irish central bank governor says crypto investors could lose all their money

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As the Bitcoin (BTC) price sees a sharp upsurge, the governor of the Central Bank of Ireland has voiced his concerns about cryptocurrency investments. Gabriel Makhlouf, who is also a governing council member of the European Central Bank, warned the public about the risks of crypto investment on Bloomberg TV this Friday. The central banker specifically referred to a recent warning by the United Kingdom’s Financial Conduct Authority on Jan. 11: “As the U.K. authority said a few weeks ago […] if people want to invest in Bitcoin they’ve got to…

Dogecoin trading volume hits $5B, surpassing Bitcoin’s for the first time ever

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Dogecoin (DOGE) briefly surpassed Bitcoin (BTC) in daily volume on Binance at over $5 billion on Jan. 29.  This is a first for Dogecoin, and it happened as the price of DOGE surged around eightfold overnight from $0.012 to over $0.08. DOGE/USDT 15-minute price chart (Binance). Source: TradingView.com What was behind the craze around DOGE? The meteoric rally of DOGE was fueled by posts and tweets from r/Wallstreetbets traders on Twitter and Reddit. In fact, the tweet volume also soared to new record highs, surpassing BTC for the first time…

Elon Musk-Prompted Bitcoin Price Surge Causes Liquidation of $387M in Shorts

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Bitcoin’s latest over 10% price rise – which came after Elon Musk added “Bitcoin” to his Twitter bio – has forced out a ton of selling pressure from the derivatives market.  The sharp rise to a 10-day high of $38,020 sparked $387 million-worth of short liquidations on major exchanges including Binance, Bitfinex, BitMEX, ByBit, Deribit, FTX, HuobiDM, and OKEx.  The crypto market leader is trading at $37,390 at press time, representing a more than 15% gain from the low of $32,000 seen during the European morning session. Today’s short liquidation…

How A Little Bird Is Delivering Trust

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Oracles are necessary to bring off-chain data and information into the blockchain Money’s Oracle blockchain technology is building the mechanisms used in the legacy financial system for the cryptocurrency space Money is also working on the Decentralized Finance equivalent of a credit score, which delivers a user’s DeFi history to lending protocols Leveraging trust in legacy finance. In the legacy financial system, there are safeguards and measures which mitigate risk accordingly to prevent financial institutions from issuing loans to overleveraged borrowers. A borrower’s credit score, along with their benchmark rating,…

DOJ Investigates SpaceX Following Hiring Discrimination Complaints

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In addition, the DOJ is also investigating whether SpaceX is delaying a subpoena for information. Elon Musk‘s SpaceX is currently under investigation with the US Department of Justice (DOJ) over complaints on hiring discrimination. The DOJ is investigating whether aerospace company SpaceX discriminates in its hiring process. DOJ and SpaceX According to a complaint received by the DOJ’s Immigrant and Employee Rights Section, SpaceX discriminated against a non-US citizen while hiring. In a court document filed on the 28th of January, DOJ attorney Lisa Sandoval noted: “Specifically, the charge alleges that…