December 3, 2020

Financial Analysts Expect US Dollar to Soften Further, 2021 Could Be the Greenback’s ‘Worst Year Ever’

Well before the coronavirus pandemic, global economists expected a grim-looking American economy and during the last ten months of the Covid-19 outbreak, the U.S. financial system looks even worse. Economists and analysts say the biggest concern is the U.S. dollar faltering into the unknown, as a great number of distinguished individuals believe the USD will see a significant value decline in 2021. Moreover, renowned economist Stephen Roach thinks there’s more than a 50% chance the U.S. dollar could collapse by the end of next year. The U.S. dollar currency index (DXY) has continued to spiral lower, as investors have been looking for safer assets to hedge against a turbulent economy. During the last week, a myriad of economists and financial analysts have predicted that next year, the U.S. dollar is going to weaken even more so than it did in […]
December 3, 2020

Gavin Wood: Polkadot is a ‘bet against blockchain maximalism’

The Polkadot founder doesn’t buy into the narrative that we only need one blockchain.
December 3, 2020

IOHK plans to achieve future Cardano smart contract compatibility with all programming languages

Blockchain engineering company IOHK today announced that it will launch two smart contract developer environments (devnets) for Cardano – KEVM and IELE. KEVM allows developers to deploy any smart contract on the Cardano blockchain platform written in Solidity, the programming language used to implement smart contracts on Ethereum. The other “devnet”, IELE, aims to empower developers to write code in any programming language and port the resulting functionality onto the Cardano blockchain. These devnets will open smart contract development to all software developers, without the need to learn new programming languages. The KEVM devnet utilizes a version of the Ethereum Virtual Machine (the runtime environment for smart contracts in Ethereum) which has been verified by K – a framework used to create formally verified software. This allows developers to define or implement the formal semantics of a programming language in an […]
December 3, 2020

Caitlin Long calls on SIM swap victims to help resurrect Wyoming bill

“A SIM swap was part of the infamous Twitter hack in July, so this is no longer just an issue affecting the crypto industry,” said Long.
December 3, 2020

Celebs Like Maisie Williams Are Looking Towards Bitcoin

Bitcoin has been surging so much this year that it’s caught the eye of several celebrities, the most recent one being Maisie Williams of “Game of Thrones” fame. Maisie Williams Is Considering Digital Currency The world’s number one cryptocurrency by market cap has shot up from below $4,000 to about $19,000 at the time of writing. In many ways, the currency has reversed its 2017-2018 run. As we remember, the asset struck the $19,000+ mark during December of 2017 three years ago. About 11 months later, the currency was trading for less than $4,000. Clearly, bitcoin has made serious headway in recent weeks and months, and many high-profile celebs are looking at the asset and trying to decipher if they’re potentially missing out. Williams is one of the most recent figures to turn her attention to bitcoin. She recently went […]
December 3, 2020

Market Wrap: Bitcoin Lingers Around $19.4K While ETH/BTC Pairing Hits Bull Mode

Bitcoin’s price is in a tight range Thursday while some investors are moving into ether.
December 3, 2020

Bitcoin a ‘Potential Store of Value’ That’s Very Volatile: Fidelity Digital Assets Head

Many investors aspire to hold bitcoin as a store of value, but right now the cryptocurrency is very volatile, said the head of Fidelity Digital Assets.
December 3, 2020

Analysts say surging Bitcoin whale inflows heighten chance of BTC correction

Bitcoin whale inflows are increasing as the price of BTC struggles to break past $19,500.
December 3, 2020

OCC works to win back House Democrats, still miffed at leader’s focus on crypto

Acting Comptroller Brian Brooks continues his work to reach across the aisle with pledges from major players to support minority-owned banks.
December 3, 2020

SEC Makes FinHub a Stand-Alone Office

The reorganization strengthens FinHub’s hand in addressing the digital assets space.
December 3, 2020

Cryptocurrency Indexes Are Set to Launch in 2021 by S&P Dow Jones Indices

S&P Dow Jones Indices has made it official: they will launch cryptocurrency indexes in 2021, becoming the latest major finance company to make its inception into the digital asset industry. More than 550 of the top traded coins to be included in the indexes As Reuters reported initially on December 3, 2020, such indexes will measure the performance of over 550 top traded crypto by market cap, including bitcoin, and they will use data from the New York-based company Lukka. According to the statement issued by both companies, S&P’s clients could create customized indexes, among other benchmarking tools on cryptocurrencies. Peter Roffman, global head of Innovation and Strategy at S&P Dow Jones Indices, told Reuters: With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable, and user-friendly benchmarks. Both parties also […]
December 3, 2020

OKEx’s Trading Volumes and Tether Reserve Plunge on Possible User Exodus

A sharp drop in OKEx’s trading volume and stablecoin reserves – tether in particular – may reveal an ongoing exodus of its users after the popular crypto derivatives exchange unexpectedly halted all crypto withdrawal activities for about five weeks.
December 3, 2020

SEC’s fintech wing leaves the nest, becoming stand-alone office

FinHub will have new independence and responsibilities, reporting directly to the SEC’s chairman.
December 3, 2020

Wrapped Bitcoin ‘Burns’ Increase as Traders Rotate Capital Out of Cooling DeFi

WBTC burns picked up in November, continuing into December.
December 3, 2020

Konstantin Anissimov: It’s Hard to Believe Bitcoin Will Fall

Bitcoin has grown to unprecedented levels this year, and according to Konstantin Anissimov – the executive director of crypto exchange CEX.IO – the asset has become “too big to fail.” Anissimov: Bitcoin Is Too Big To Fail The asset was initially trading for just over $7,000 during the early weeks of 2020. Despite a bull run that took the currency into five-figure territory by the time February arrived, the coronavirus took a heavy toll on financial markets everywhere, causing stocks, gold and even bitcoin to stumble hard. The world’s number one digital asset fell by more than $6,000, dropping below the $4,000 mark for the first time in over a year. However, at press time, the currency is trading for well over $19,000 per unit. To say that bitcoin has come back would be something of an understatement. The currency […]
December 3, 2020

Terra Brings 24-Hour Trading to Synthetic Versions of Stocks Like TSLA and AAPL

The creators of the stablecoin platform Terra are launching Mirror Protocol, a way to mint crypto assets that mimic U.S. stocks.
December 3, 2020

Though centralized, a digital yuan is too big for China to surveil, says Cypherium CEO

Despite ambitions of overtaking the dollar, China’s central bank will have a hard time monitoring all the transactions involved in a CBDC, though commercial banks might lend a hand.
December 3, 2020

Bitcoin is the ‘wrong price for the possibilities it has,’ says Paul Tudor Jones

He says “The path forward from here is north.”
December 3, 2020

This bull market is different because people already know about crypto, Celsius CEO says

His price predictions are a little lower than most speculators, however.
December 3, 2020

Bitcoin Undervalued Relative to Gold, Equities, Tudor Jones Says

The hedge fund manager has 1% to 2% of his multi billion-dollar portfolio in bitcoin.
December 3, 2020

Why Stablecoins Are the First Battleground of the Coming Crypto Regulation Wars

The STABLE Act would force all stablecoin issuers to have bank licenses, a shot across the bow that portends an emerging legal challenge for the industry.
December 3, 2020

Caribbean Crypto Hotbed: More Than 40 Businesses Accept Bitcoin Cash in Antigua

Cryptocurrencies have been getting quite popular in the Caribbean region and in Antigua and Barbuda, the island has seen significant growth. Crypto adoption has been on the rise in the island country and just recently, a regional news report detailed that more than 40 major businesses are accepting bitcoin cash for goods and services. During the last few years, a myriad of Caribbean-based island nations are getting into digital currencies. Many Caribbean regions such as Nevis & St Kitts, Bermuda, Barbados, the Cayman Islands, and Antigua and Barbuda have become hotspots for blockchain innovation and crypto merchant acceptance. Two years ago, Antigua’s Minister of Information Technology, Melford Nicholas said “Antigua and Barbuda is determined to be on the cutting edge of the new system of creating wealth.” Moreover, this past spring crypto regulations passed in Antigua’s lower Parliament called the […]
December 3, 2020

Yearn.finance mergers and sideways Bitcoin price propel DeFi tokens higher

Select DeFi tokens have outperformed Bitcoin and altcoins as investors cheer the news of mutually beneficial partnerships.
December 3, 2020

Protocol Hosting Google reCAPTCHA Competitor Expands to Polkadot

Human Protocol, home of the anti-bot hCaptcha system, announced it is expanding beyond Ethereum to a future Polkadot parachain, Moonbeam.
December 3, 2020

What does VCOIN’s SEC authorization mean for securities law and crypto?

The latest in securities law and crypto is not a revolution, but it is a step forward.
December 3, 2020

Blockchain Bites: Bitcoin’s Edge as a Hedge and Crypto’s Reaction to the STABLE Act

Crypto Twitter, like the U.S. Congress, is usually divided. A proposed law to strengthen stablecoin oversight has brought crypto together.
December 3, 2020

Valuing Open Source: Principles for Acquiring DeFi Projects

As DeFi sees its first M&A, we’re left with a big question: How do you value an open-source project in a very new industry?
December 3, 2020

Larry Fink: Bitcoin Could Be Hurting Dollar-Based Assets

No doubt that bitcoin has made a serious mark on traders and financial experts everywhere. The fact is that bitcoin is no longer just a speculative asset, but rather a tool that can potentially hedge one’s wealth against inflation and other harsh economic circumstances. Bitcoin Is Working Against Other Currencies However, it looks like bitcoin is also having a negative effect on our financial environment. While it’s true that the cryptocurrency has made serious dents in portfolios and in traders’ minds, it’s also having a real impact on how the U.S. dollar and other forms of fiat function. Apparently, bitcoin is preventing these assets from doing their jobs according to Black Rock’s chief executive Larry Fink. Fink made headlines last month when he commented that bitcoin was here to stay. Clearly, he’s growing on the asset, but he also believes […]
December 3, 2020

DeFi project Aave unlocks collateral with version 2 release

Users can now trade assets while they are locked up as decentralized finance collateral.
December 3, 2020

Nexo Launches Buyback Program, Commits Initial $12M

PRESS RELEASE. Nexo, the leading regulated digital financial institution with over $2 billion in assets under management, today announced the details of its buyback program. The company’s Board of Directors approved an initial repurchase of $12 million of its NEXO Token on an open-market principle, with the decision coming into force with immediate effect. Part of the company’s recently launched tokenomics overhaul Nexonomics, the move seeks to further boost the value of the NEXO Token, which marked a 160% price increase since the campaign’s launch in late October. The buyback program is yet another step to bolster the NEXO Token’s stability and growth potential, ultimately rewarding token holders for their investment and loyalty. “Nexo has had another record year, affording us the flexibility to give back to our clients and reinvest in the company and the NEXO Token as an […]
December 3, 2020

SWIFT enables instant cross-border payments

This seemingly fight-or-flight response to blockchain’s rising ubiquity may be too little, too late.
December 3, 2020

Swiss Wholesale CBDC Trial Shows ‘Feasibility’ for Central Bank Money on Distributed Ledger, BIS Says

A Swiss experiment on how central bank money can be linked to markets built on distributed ledger technology (DLT) yielded positive results.
December 3, 2020

Audio streaming giant Spotify is looking into crypto payments

Is Spotify hinting at soon-to-come crypto features?
December 3, 2020

Everyone’s talking crypto for solving sub-Saharan Africa’s payments problems

Stablecoins and continentwide regulations are key to breaking down barriers to Africa’s economic growth.
December 3, 2020

Blackrock CEO Larry Fink: Bitcoin Makes US Dollar Less Relevant, Can Evolve Into a Global Market

The CEO of Blackrock, the world’s largest asset manager, said that bitcoin “can evolve into a global market.” Moreover, the cryptocurrency has a “real impact on the U.S. dollar,” making the need for the USD “less relevant.” Bitcoin Evolving Into a Global Market Blackrock CEO Larry Fink made some bullish statements about bitcoin in a conversation with former Bank of England Governor Mark Carney at the Council on Foreign Relations symposium on Tuesday. Blackrock is the world’s largest asset manager with over $7 trillion in assets under management. “Bitcoin has caught the attention and the imagination of many people,” Fink said. “We look at it as something that is real,” he continued but noted that the market for the cryptocurrency is “still untested. It’s still a pretty small market relative to other markets.” While pointing out that bitcoin’s price sees […]
December 3, 2020

Aave Launches V2 in Bid to Make Borrowing Against Volatile Assets Less Risky

DeFi platform Aave has rolled out its second version, with several features that should make it more flexible and more capital efficient.
December 3, 2020

Stripe will offer bank accounts, with help from Goldman Sachs and Citi

But only for vendors, so retail users will have to wait.
December 3, 2020

Dangers of hosting your own Eth2 node, explained

Hosting an Eth2 node is a big responsibility — and if things go wrong, this could result in some painful penalties.
December 3, 2020

Darknet Markets Face Headwinds After Year of Mixed Results

Darknet markets are falling off the radar and watching their customer base level off.
December 3, 2020

Private German Bank to Launch Cryptocurrency Fund

Hauck & Aufhauser is launching a cryptocurrency fund in January 2021.
December 3, 2020

Kraken pledges $150,000 to Ethereum devs in latest Gitcoin Grants Round

This is a first for the traditionally Bitcoin-centric exchange.
December 3, 2020

Bitcoin arrives on Wall Street: S&P Dow Jones launching crypto indexes in 2021

In the latest big move to incorporate crypto by traditional finance, 550 coins will appear in the new indexes from next year.
December 3, 2020

S&P Dow Jones Indices to Launch Crypto Indexes in 2021

Financial data provider S&P Dow Jones Indices is launching a crypto asset index in 2021.
December 3, 2020

Kraken Exchange to Offer First Grants for Open-Source Ethereum Projects

Kraken is for the first time funding open-source Ethereum projects.
December 3, 2020

Last Month Casascius Owners Redeemed the Highest Number of Physical Bitcoins in 3 Years

On November 30, 2020, bitcoin crossed an all-time price high on a few global exchanges and between spot and derivatives markets there’s been a lot of action. One metric people didn’t notice was the fact that November 2020 saw the most number of redeemed Casascius physical bitcoins in three years. Approximately 92 coins were peeled throughout the last 30 days and there are only 20,686 Casascius physical bitcoins left active. In the bitcoin world, there are a number of coins that hold numismatic value, which means the bitcoin could be worth more than the spot market value of the BTC. For instance, legend has it that virgin bitcoins (freshly minted by a miner) can fetch a premium because no one has ever transacted with them before. However, the most common bitcoins holding numismatic value are physical bitcoins that also hold […]
December 3, 2020

Institutions rushing into $19K Bitcoin as GBTC premium hits 6-month high

Grayscale Bitcoin Trust’s premium is now above 30% as institutional demand for BTC continues to increase.
December 3, 2020

Canada could launch CBDC sooner than expected, central bank exec says

COVID-19 could force the Bank of Canada to launch a CBDC sooner than previously expected.
December 3, 2020

First Mover: Ether Eyed as Value Play With Bitcoin Pressing $20K

As prices consolidate below $20K, traders cue off macroeconomic factors – like Biden remark that $908B stimulus would be “down payment.”
December 3, 2020

In Echo of Bitcoin’s Genesis, Mining Pool Embeds Reuters Headline on the Blockchain

Slush Pool has immortalized a potentially iconic Reuters headline on the Bitcoin blockchain.
December 3, 2020

Bitcoin’s Price Is a Poor Proxy For Its Utility

Bitcoin has found adoption this year as digital gold. The other promises of cryptocurrency have yet to find fruition, says our columnist.
December 3, 2020

Bitcoin is the ‘ultimate anti-lockdown investment,’ says Nigel Farage

The Financial Times scorns Nigel Farage for his apparently predictable embrace of libertarian cryptocurrency influencers.
December 3, 2020

Worsening US Dollar, Inflation Metrics Bode Well for Bitcoin’s Continued Rally

A continued decline in the U.S. dollar and rising inflation expectations support bitcoin’s long-term bullish case as a hedge asset.
December 3, 2020

Oldest Bitcoin mining pool ‘immortalizes’ bullish Reuters headline

Slush Pool encoded a Reuters headline in an apparent nod to the Bitcoin genesis block, which contains a banner from The Times.
December 3, 2020

New Paper: Ripple Network Doesn’t Meet Criteria To Reach Consensus

A brand-new paper which analyzes the Ripple network concluded that the network does not reach true consensus, as its protocol “may violate safety and liveness,” and doesn’t follow the established models and algorithms for a Byzantine agreement. Report Claims XRP’s Network Is Vulnerable to Malicious Actors According to Ignacio Amores-Sesar, Christian Cachin, and Jovana Micic, researchers from the University of Bern, the Ripple consensus protocol introduces the idea of “subjective validators”, such that every node declares “some trusted validators.” In the case of Bitcoin and Ethereum, both reach consensus permissionlessly through Proof-of-Work (PoW). However, through Byzantine systems, access is permissioned as the system can’t block malicious actors. The paper goes in-depth by explaining the mechanism: The designers of Ripple aimed at opening up membership in the set of validator nodes compared to BFT [Byzantine-fault-tolerant] consensus. The trusted validators of a […]
December 3, 2020

Finance Redefined: What’s a DeFi merger, anyway? Nov. 25–Dec. 2

Yearn “acquisitions” dominated headlines this week.
December 3, 2020

Swiss Firm Launches ‘No-Fee’ Bitcoin Exchange-Traded Product on Nordic Growth Market

Swiss-based Valour says its bitcoin ETP is the first with no management fees.
December 3, 2020

Bitcoin price metric that called 2020 bull runs flashes ‘buy’ again

Hash ribbons tell investors to buy BTC again for the first time in five months as BTC price consolidates below $20,000.
December 3, 2020

95% of Ripple’s customers are not from the US, CEO Garlinghouse says

Potential customers in the U.S. are apparently holding off from using Ripple’s XRP-related services due to regulatory uncertainty.
December 3, 2020

First AMM Layer2 DEX ZKSwap Announces Testnet Incentive Program with 1 Million ZKS Tokens Rewards

PRESS RELEASE. ZKSwap developed by L2Lab is the first layer2 dex based on ZK-Rollups technology and using the AMM model. The team has recently closed a $1.7 million Angel Round led by Bixin, followed by Longling Capital, SNZ Holding, FBG Capital, Jubi, and Consensus Lab. After launching on the Ethereum Ropsten test network on November 16th, 2020, many community members have participated in the test and helped ZKSwap improve the product. To give back to the community, ZKSwap launched several testnet incentive programs to the users starting from November 27th, 2020, Beijing time. Details of the incentive program campaign have been announced on the official website zks.org. ZKSwap will give away 1 million ZKS for those users who are helping testing the layer2 transaction this time. There will be no public fundraising for ZKSwap and the community incentive program is […]
December 3, 2020

Ridesharing Giant Cabify to Track and Offset Carbon Emissions Using Blockchain Platform

Cabify, one of the world’s largest ridesharing companies, is moving to offset its carbon emissions with the help of blockchain marketplace ClimateTrade.
December 3, 2020

EOS Price Analysis: Crucial Break Awaits, $3.20 Holds The Key

EOS rallied failed to gain momentum above $3.300 and corrected lower against the US Dollar. The price is currently holding the $2.950 support, but below the 55 simple moving average (4-hours). There is a major contracting triangle forming with resistance near $3.120 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could either rally above $3.200 or start a sharp decline below $2.950. EOS price is approaching a major break against the US Dollar, similar to bitcoin. The price must stay above $2.950 support to start a fresh rally. EOS Price Analysis In the past few days, EOS price failed to gain pace above the $3.300 resistance zone against the US Dollar. The price corrected lower and traded below the $3.150 support level. There was also a break below the $3.000 support and the price […]
December 3, 2020

Theta Labs Launches Its Blockchain Video Delivery Platform in Beta

Theta Labs says it plans to democratize content delivery with its decentralized video platform.
December 3, 2020

Roll-ups to preserve Ethereum’s DeFi monopoly despite competitors: Messari

Popular crypto data provider Messari has predicted that roll-ups will beat out Layer 1 alternatives as the dominant scaling solution amid Eth2’s multi-year incubation.
December 3, 2020

65% of Traders on Paypal Ready to Use Bitcoin to Pay for Goods and Services: Survey

At least 65% of people who use the Paypal app to trade bitcoin are prepared to start using the top cryptocurrency to pay for goods and services at the 28 million stores supported by the payments company throughout the world. According to a proprietary survey of 380 Paypal users by Mizuho Securities, 17% of the respondents said they have already traded bitcoin (BTC) via their Paypal accounts since the firm started offering crypto services in October. Of these, the majority are the ones who showed readiness to utilize bitcoin for purchases. The finding is significant to the extent that it bolsters bitcoin’s credentials as a viable means of payment – something that bitcoin opponents have routinely used to discredit the digital asset. Paypal is expected to allow all its customers to use bitcoin as a funding source to pay for […]
December 3, 2020

Litecoin (LTC) Price Analysis: Bullish Continuation Likely Above $90

Litecoin price surged above towards the $93.00 level before correcting lower against the US Dollar. LTC price is trading nicely above $80.00 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with resistance near $88.50 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair is likely to start a fresh surge if there is a clear break above $88.60 and $90.00. Litecoin price is currently consolidating gains from above $85.00 against the US Dollar, similar to bitcoin. LTC price could rally again above $90.00 as long as it is above $80.00. Litecoin Price Analysis This week, there was a minor downside correction in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC price gained bullish momentum above the $80.00 and $85.00 resistance levels. There was also a break […]
December 3, 2020

The United States Could Make Stablecoins Illegal

The United States could soon be one of the first countries making stablecoins illegal. In order for users to be able to handle stablecoins, crypto exchanges and companies […]
December 3, 2020

The Australian Senate just voted to kill the $10,000 ‘cash ban’ bill

A controversial bill to ban the use of cash for transactions over $10,000 has been voted out by the Australian Senate
December 3, 2020

Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain

Two Chinese state-run media outlets have published a brief news item urging citizens to focus more on blockchain technology than on the “hype” of the recent surging Bitcoin prices across the board. China’s Government to Focus on Blockchain Both Sina and Xinhuanet have stated that the recent rally in BTC prices has no clear explanation. Instead, the reporters behind the article, Mao Zhenhua and Zhang Xiaohui, said people should focus on pro-blockchain state policies. Within the brief piece, the state-run press agency ensures that people are “gradually seeing the potential of blockchain technology and technological progress and regulatory escort are going hand by hand.” This is in line with the state’s negative stance towards the surge of interest in BTC and altcoins. The article adds that while crypto trading still represents an investment method that only generates “uncertainty”, blockchain technology […]
December 3, 2020

CipherTrace warns of surge in funds lost to MetaMask phishers

Phishers are coming after MetaMask users in increasingly clever ways.
December 3, 2020

Joseph Lubin says insiders are ‘very optimistic’ about how fast Eth2 will unfold

Joseph Lubin believes Eth2’s development will move quicker than many are expecting, predicting the new protocol will “absorb” Ethereum in “the not too distant future”