Month: March 2020

Binance blamed customer confusion for its FTX leveraged token delisting, explaining that users held the tokens instead of trading them, which was the originally intended use case. “The leveraged tokens are not designed for long term holding, which is what we noticed users were doing,” a Binance representative told Cointelegraph in an email. “The tokens will devalue over time as prices go up and down.” The exchange rep said Binance currently has no plans for explaining and relisting the removed Read more …

Ethereum has been closely tracking Bitcoin’s price action throughout the past several days and weeks, which has led ETH to once again enter a bout of sideways trading within the mid-$130 region. Despite being able to post a strong rebound from its recent lows, it is important to note that analysts are widely anticipating ETH to see an intense downwards movement in the near-term. This also comes in tandem with some slight growth in the cryptocurrency’s open interest on BitMEX, Read more …

French international soccer striker Kylian Mbappé filed a complaint on March 31 for the unauthorized use of his name on a cryptocurrency scam network, which is being investigated by local authorities. According to the newspaper L’Équipe, the soccer player, who plays for Paris Saint-Germain, is being impersonated to use his name in advertising campaigns for the alleged scam that involves a cryptocurrency acquisition scheme. These advertising posts cited false statements by Mbappé, where he allegedly claimed that the formula offered Read more …

The trouble with bitcoin payments these days may be a lack of spenders, not spending opportunities.  On Monday, the Silicon Valley bitcoin startup Lightning Labs announced a new standards proposal that makes it easier for companies to automate small bitcoin (BTC) payments, like ongoing subscriptions.  “We are using this product for our Loop service, it’s already in production,” Lightning Labs engineer Oliver Gugger said of the standards proposal called LSAT. “It’s not all the way there. We’ve just proposed the Read more …

Once the coronavirus hit, registered nurse Shannon Garcia suddenly needed to work from home, like thousands of others in the U.S. Not only would her isolation make space in a crowded hospital, she’d keep herself safe. Having cardiac arrhythmia and lung damage, she’s more vulnerable to the global virus taking a toll on her health. But she faced a serious problem: a lack of internet access. Internet service providers (ISPs) don’t deliver internet in Clatskanie, Oregon, where she and her Read more …

While Telegram isn’t giving up its ongoing legal battle with United States regulators to launch its TON blockchain project, some online perpetrators are taking advantage of the messenger’s popularity to expose millions of user records of third-party versions of Telegram app. Per an investigation by cybersecurity firm Comparitech and security researcher Bob Diachenko, at least 42 million Iranian “Telegram” usernames and phone numbers were leaked via unofficial Iranian-made versions of Telegram, while real Telegram is banned in the country. 42 Read more …

XRP, the cryptocurrency asset often referred to as Ripple, has been among the worst-performing crypto assets and altcoins of the last two years. However, according to one crypto analyst who has spotted what they believe is a classical bottom signature on XRP price charts, expects the asset’s woes to soon change and potentially triple in value before the end of the year. XRP’s Recent Panic-Fueled Rollercoaster Ride XRP has gained a negative reputation across the cryptocurrency community. The number three Read more …

Castle Island Ventures and Coin Metrics co-founder Nic Carter joins @NLW to discuss cascading crises, crypto dollarization and the state of the bitcoin narrative. In this wide-ranging discussion, Castle Island Ventures founding partner and Coin Metrics co-founder Nic Carter joins @NLW to discuss: Why corporations weren’t adequately prepared for any serious economic trouble, much less a global pandemic  Why government backstopping the corporations leads to inappropriate risk taking  How stock buybacks became a boogeyman of the current crisis  Why the Read more …

Digital payments giant PayPal posted a new job listing on March 23, where the company seeks to hire an Anti-Money-Laundering (AML) and Blockchain Strategy director for their Global Financial Crimes (GFC) division. According to the company, the new director —based in New York — will be in charge of evaluating blockchain’s use cases for the prevention of financial crimes, such as money laundering and terrorist financing, to supervise the entire AML process. The post also detailed that the ideal profile Read more …

Although the Wild West of crypto historically has involved scams, hype and price gaming, those descriptors are now tacked onto another industry — the N95 face mask market. “Scrutiny surrounding these deals is high because of ongoing scams and claims of price-gouging, both of which are triggering emotionally charged reactions and fear of making deals,” Forbes contributor David DiSalvo wrote in a March 30 article on the coronavirus pandemic-induced N95 face mask mania. Out of context, however, DiSalvo’s quote very Read more …

The crypto market is recovering from the price drop earlier this month, yet the daily number of Bitcoin transactions continues to decline. This data anomaly reflects changes underway in how the flagship cryptocurrency is being used. It may reflect a greater trend moving forward.  MORE HODLING, LESS TRADING Daily transaction activity began to grow steadily at the beginning of this year, which coincided with Bitcoin’s increase in price. Trading and mining both picked up, which added to this number. The Read more …

As economists scramble to assess the devastating impact of the coronavirus, they’re homing in on an unexpected hero that’s mitigating the damage in the U.S.: remote working.  With offices across the country closed and people stuck in their homes, many professional workers have accomplished a not-seamless but ultimately successful transition to online workplaces — allowing those in crucial industry sectors including professional and business services to continue doing their jobs.  The output is helping to protect U.S. government tax revenue Read more …