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IDEX Raises $2.5 Million for IDEX 2.0

7 Aug 2020 1 minute read 0 comments Abhimanyu Krishnan

Semi-decentralized exchange IDEX has raised $2.5 million in a seed funding round, as revealed by co-founder and CEO Alex Wearn. The funds will be utilized for a relaunch of IDEX as IDEX 2.0, a performance and security-focused upgrade. Funding led by...

JP Morgan Report on Pandemic Investment Habits Shows Crypto is Popular Among Old and Young

6 Aug 2020 1 minute read 3 comments Abhimanyu Krishnan

JPMorgan Chase published a report on August 5 that describes investment habits of retail investors during the pandemic. Younger generations have a strong preference for Bitcoin (BTC) and tech stocks, while it was noted that older investors were warmi...

Set Protocol Unveils New Features of V2 Upgrade

6 Aug 2020 1 minute read 0 comments Abhimanyu Krishnan

On August 5, DeFi asset management protocol Set Protocol (SET) unveiled the details of its V2 upgrade, which includes yield farming, multi-asset support and user experience features. More assets will be supported, including DeFi tokens, additional s...

Mati Greenspan: Bitcoin and S&P 500 Now Uncorrelated

6 Aug 2020 1 minute read 0 comments Abhimanyu Krishnan

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 0 comments Abhimanyu Krishnan

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 0 comments Abhimanyu Krishnan

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 0 comments Abhimanyu Krishnan

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 1 comment Abhimanyu Krishnan

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 1 comment Abhimanyu Krishnan

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 0 comments Abhimanyu Krishnan

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...