Tag: Pandemic

Bitcoin ATMs Hit 7,500 Across the Globe Amid Covid-19 Pandemic 

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The Bitcoin (BTC) ATM industry has seen a 70% boom since 2019, with the total number of Bitcoin ATMs installed in various regions around the globe now standing at a massive 7,500. Despite the current regulatory bottlenecks surrounding the cryptocurrency, the United States still dominates the industry, with 5,422 functional Bitcoin ATMs, reports Decrypt on April 20, 2020. Bitcoin Taking Over the World Despite the super volatile nature of Bitcoin (BTC), the world’s flagship cryptocurrency, it appears the world is gradually warming up to the blockchain-based currency as uncertainties keep…

What It Means to Be an Investor Amid the Global Pandemic

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Investors are no strangers to extreme situations — history’s Great Depression is one of the best examples of this. However, the COVID-19 pandemic presents a new type of extreme situation. And the question racing through nearly every investor’s mind is: Can this pandemic offer opportunities despite all the difficulties it presents? As an investor, I believe the answer is a resounding yes. Extreme situations always provide incredible opportunities for investors. In fact, I’d go so far as to say that it doesn’t matter what type of assets you’re looking to…

COVID-19 Pandemic Spurs Crypto Law Updates in J5 Countries

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Cybercriminals are taking full advantage of the COVID-19 pandemic, which has forced life into a digital realm, by leveraging increased fear and uncertainty to steal money and launder it through the complex cryptocurrency ecosystem. Accordingly, the Joint Chiefs of Global Tax Enforcement, known as the J5, has ramped up its efforts by arresting cybercriminals suspected of laundering millions of dollars in cryptocurrency, according to a J5 joint statement. The J5 also has been updating its Anti-Money Laundering and Combatting the Financing of Terrorism laws for cryptocurrencies in accordance with Financial…

Bitcoin Miner Braves Pandemic Amid Partial Relocation to New York

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Bitcoin (BTC) mining firm Riot Blockchain has entered into a deal to relocate a portion of its mining operations to a facility in New York operated by Coinmint. Riot claims to have assessed the risks associated with operating in New York amid the COVID-19 pandemic and determined that Coinmint’s “plug and play” infrastructure mitigates many of the concerns pertaining to coronavirus. The partnership comes amid thin profit margins for many United States-based mining companies resulting from the mid-March crypto market crash. Riot Blockchain relocates S17s to New York In a…

Crypto Exchange Traffic in Russia Rises by Over 5% Amid Pandemic

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Amid the global COVID-19 pandemic and concerns over ongoing quarantines and rising unemployment, more and more people around the world are apparently turning to crypto, Russia being no exception. According to data by cybersecurity firm Qrator Labs, people in Russia have become increasingly engaged with crypto exchange services amid the ongoing coronavirus outbreak. Crypto exchange-related traffic surges 5.56% in Russia Specifically, traffic on crypto exchanges in Russia surged 5.56% in the last week of March 2020 in comparison to February averages, a study by Qrator Labs reportedly said. Citing data…

Coronavirus Pandemic Is Reshaping Blockchain Companies’ Roadmaps

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The coronavirus pandemic has been affecting more and more aspects of the blockchain and cryptocurrency market. As Cointelegraph previously reported, more than half of the 2020 crypto conferences were either canceled or postponed due to the COVID-19 outbreak, while mining manufacturers had to stop the equipment production in China. At the same time, other companies have been able to master new opportunities by digitizing business processes and moving employees online. Cointelegraph has analyzed how severe the consequences appeared to be for projects working with blockchain technology and cryptocurrencies, and how…

The Pandemic Couldn’t Have Provided a Better Environment for Crypto

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The Fed opening the floodgates to unlimited standing quantitative easing paired with a $6 trillion stimulus package is an unprecedented event. It’s the most heavy-handed intervention by the Fed to date. For many crypto proponents, it is a rallying cry amid an interventionist monetary policy reminiscent of the 2008 environment that led to the release of the Bitcoin (BTC) whitepaper by its anonymous founder. The giant stimulus package equates to roughly 28% of the United States’ 2019 GDP, arriving while credit markets are in flux and bond yields are trending…

Pandemic Could Be The Tipping Point For Bitcoin

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The global spread of the coronavirus played a major role in the dramatic 2020 stock market crash. The bailout bill for saving the world’s economy is $7 trillion and rising fast. Bitcoin bull Tim Draper believes this confluence of factors may be the tipping point that allows innovations such as Bitcoin and smart contracts to flourish. In an interview on April 6, the global venture capital investor said he was skeptical about the government’s infinite money printing bailout plan and said it would take years before that money “permeates” the…

Microsoft Helps Hospitals Fight Ransomware Amid Coronavirus Pandemic

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Global computing conglomerate Microsoft is notifying hospitals that are vulnerable to ransomware attacks to help prevent healthcare institutions from becoming overwhelmed amid the COVID-19 pandemic. The firm also published recommendations to hospitals for securing their systems and preventing ransomware attacks on April 1. Through the company’s network of threat intelligence analysts, Microsoft states that it “identified several dozens of hospitals” with vulnerable virtual private networks and other public-facing gateway applications in their systems:  “During this time of crisis, as organizations have moved to a remote workforce, ransomware operators have found…

BIS Calls for Central Bank Digital Currencies Amid Coronavirus Pandemic

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The Bank of International Settlements (BIS) has issued a report arguing in favor of central bank digital currencies (CBDCs) and digital payments amid the COVID-19 pandemic. The bulletin published by the BIS, a 600-member international financial institution representing the central banks of 60 countries, urges central banks to consider developing CBDCs in light of concerns regarding the spread of coronavirus through existing payment methods. BIS warns of COVID-19 transmission via credit card terminals The report notes a significant negative change in consumer attitudes regarding the use of cash in response to…