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Mati Greenspan: Bitcoin and S&P 500 Now Uncorrelated

6 Aug 2020 1 minute read comments Abhi K

Founder of Quantum Economics and market analyst Mati Greenspan, in a newsletter published on August 5, said digital assets once again operate independently from traditional markets.  Greenspan pointed out that Bitcoin’s correlation with traditional...

Blockstream CEO Adam Back Labels Ethereum and Ripple as Scams

6 Aug 2020 1 minute read comments Abhi K

Blockstream CEO Adam Back, in a Twitter discussion with journalist Layah Heilpern, put Ethereum (ETH), Ripple (XRP), Stellar Lumens (XLM), Cardano (ADA) and other projects in the same group as Bitconnect and the scams perpetrated by Charles Ponzi and...

Business Intelligence Company MicroStrategy to Invest $250M in Bitcoin and Alternative Assets

6 Aug 2020 1 minute read comments Abhi K

Business intelligence, mobile software and cloud services firm MicroStrategy will invest up to $250 million of excess cash in Bitcoin, gold and alternative assets, as revealed in a July 28 earnings call involving CEO Michael Saylor.  Primary motivat...

Ethereum Classic Experienced its Second 51% Attack in a Week

6 Aug 2020 1 minute read comments Abhi K

Ethereum Classic (ETC) experienced its second 51% attack in roughly a week, after the Ethermine pool’s parent entity Bitfly reported that 4000 blocks had been reorganized on August 6. The amount stolen is currently unknown. This is the second attack...

India Reportedly Looking to Ban Cryptocurrencies

6 Aug 2020 1 minute read comments Abhi K

Media outlet MoneyControl reports that Indian officials are seriously considering the use of cryptocurrencies in the country. Sources told the outlet that by banning cryptocurrencies by the law, as opposed to imposing a service ban like the central b...

Bitcoin Becomes the Dominant Revenue Stream for Square's Cash App

5 Aug 2020 1 minute read comments Abhi K

Square’s focus on digital assets has resulted in tremendous results for the company, as on August 4 a shareholder letter revealed that its Q2 Bitcoin sales are greater than fiat sales.  Launched in 2017, it has only been just over 2 years since Squar...

DeFi Protocol Opyn Hacked, Over $370K in User Funds Stolen

5 Aug 2020 1 minute read comments Abhi K

Decentralized insurance platform Opyn was hacked on August 4, resulting in the theft of over $370,000. The hacker exploited a flaw in the Opyn ETH Put contracts, which is the only contract that has been affected.  The exploit allowed the attacker  t...

Synthetix to Introduce Synthetic Futures and Rebrand Exchange in H2 2020

5 Aug 2020 1 minute read comments Abhi K

On July 31, synthetic asset platform Synthetix (SNX) offered an update on its roadmap, detailing several significant offerings for the latter half of 2020. New features and developments include synthetic futures, a rebrand of the exchange and deeper...

Ripple's Q2 Market Report Shows Better Sales Than Q1

5 Aug 2020 1 minute read comments Abhi K

Ripple published its Q2 XRP market report on August 3, and the numbers are much better than those of Q1. The report covers quarterly programmatic and institutional sales updates, as well as updates and commentary on partnerships and developments. To...

Blockchain-based MMO Infinite Fleet Raises $3.1M in STO

5 Aug 2020 1 minute read comments Abhi K

Infinite Fleet, a massive multiplayer online (MMO) game based on blockchain technology, has raised $3.1 million through a private Security Token Offering (STO). CoinDesk reported that the sale had concluded on July 31 and was conducted in two parts. ...