Crypto News Blocks

Canada-Based York University Adding Blockchain Education Programs
  • To meet job demands, York University will add two blockchain education programs to its curriculum beginning in September 2020.
  • Blockchain developer roles in the Greater Toronto Area have risen by 374% over the past two years.
  • The two courses will help students build a portfolio in the blockchain field.
  • The part-time course will be completely available online, while the full-time course is expected to be a hybrid that requires students to take classes both online and on-campus.
  • The duration of the courses, and the capacity of how many students can enroll, has not yet been specified. 
  • An advisory council member of the post-graduate program believes that technologies like blockchain are crucial to help mitigate crises such as the COVID-19 pandemic.
  • York University revealed that the COVID-19 pandemic has only increased the demand for blockchain jobs.
  • Read the full story here.

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Posted on May 29, 2020
Posted: May 29, 2020
Bitcoin Could Benefit From Chinese Yuan Decline
  • China’s Yuan market is fixed and partly controlled by the country’s central bank.
  • The People’s Bank of China adjusts the exchange rate in response to macro factors to ensure the economy doesn’t collapse.
  • As the Yuan falls, analysts believe Bitcoin may benefit as a fallback option for investors.
  • Tensions between the U.S. and China over the latter’s control of Hong Kong could ultimately aid Bitcoin as well.
  • Jeff Dorman, the CIO of Arca, pointed out that Bitcoin typically thrives when the Chinese yuan declines.
  • Placeholder Capital partner Chris Burniske noted that there could be a repeat of 2015-16 when Bitcoin’s surge coincided with the yuan’s drop.
  • Read the full story here.
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Posted on May 29, 2020
Posted: May 29, 2020
Discovery Science Channel Airing Cryptocurrency Documentary
  • On July 4, Discovery Science Channel will air “Open Source Money,” a documentary series about a crypto firm fully financed with cryptocurrency.
  • The documentary series will center on Disney-developed blockchain company Dragonchain.
  • “Open Source Money” was jointly produced by media and technology firm Vision Tree, and financed with over $1 million in cryptocurrency.
  • Academy Award-winning actor Leonardo DiCaprio’s production company, Appian Way, also had a role in making the series.
  • “Open Source Money” relays the story of Dragonchain, which launched in 2017.
  • Each episode of the series depicts the contributions of key people in the firm, as well as companies such as Disney and Facebook.
  • Discovery Science Channel is set to become the first worldwide cable network to televise a cryptocurrency-related project. 
  • Vision Tree founder J.D. Seraphine believes “Open Source Money” will help give cryptocurrency more exposure to a mainstream audience.
  • Read the full story here.
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Posted on May 29, 2020
Posted: May 29, 2020
Bitcoin Could Surge To $11,000 In June
  • Technical and fundamental catalysts could help Bitcoin top $11,000 in June.
  • Key factors for a potential surge include the Symmetrical Triangle formation, the Sino-U.S. geopolitical conflict, and the Federal Reserve’s unlimited fiscal support.
  • The likelihood of Bitcoin reaching the $11,000 threshold will increase if it proves capable of breaking above the price ceiling.
  • Bitcoin’s price is expected to reach the Triangle’s apex by mid-June.
  • Bitcoin could ultimately correct lower if it fails to garner buying momentum near the Triangle’s upper trendline.
  • As Bitcoin’s price hovers under the 50-weekly moving average, the likelihood of breaking below the blue wave increases.
  • Conflict between the U.S. and China, plus the urgency to boost the economy, are viewed as positive signs to help prevent significant Bitcoin sell-offs.
  • Read the full story here.
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Posted on May 29, 2020
Posted: May 29, 2020
Federal Judge Consolidating Two Cases Against Ripple
  • Judge Phyllis J. Hamilton of the US District Court for the Northern District of California has ordered that two cases against Ripple and its CEO Bradley Garlinghouse merge together to optimize judicial resources.
  • Bitcoin Manipulation Abatement (BMA) is accusing Ripple of selling XRP as unregistered securities and misleading investors by engaging in false advertising.
  • Bradley Sostack, who is leading a class action lawsuit, also claims that Ripple sold XRP as unregistered securities — violating U.S. federal rules.
  • The plaintiffs in the case believe Ripple failed to register its token with the US Securities and Exchange Commission (SEC), and thus created 100 billion XRP out of nothing.
  • Ripple wanted to dismiss the class action suit at the end of 2019, opining that the plaintiffs should have acted within three years after the launch of XRP.
  • Hamilton let the case move forward this past February and believes combining the lawsuits will prevent the duplication of labor and conflicting results.
  • Read the full story here.
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Posted on May 29, 2020
Posted: May 29, 2020
Central Bank Of Russia Is Preparing To Launch A Blockchain-Powered Digital Mortgage Platform
  • The Central Bank of Russia is reportedly developing a digital mortgage platform powered by MasterChain, a domestically developed blockchain.
  • First Deputy Governor of the central bank, Olga Skorobogatova says that MasterChain has recently begun to support digital mortgages, which will provide the foundation for their platform.
  • MasterChain is a permissioned, Ethereum-based blockchain launched in 2017 by the FinTech association and is reportedly the first blockchain platform in Russia to be certified by the Federal Security Service.
  • MasterChain was previously used for e-mortgages in Russia in September of 2018 as a Russian Subsidiary of Raiffeisen Bank International published mortgage documents containing data.
  • There remains a sentiment of “blockchain over bitcoin” in Russia as the country’s largest bank, Sberbank recently called for tenders to provide more than 4,000 ATMs capable of supporting blockchain operations.
  • Read the full article here

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Posted on May 28, 2020
Posted: May 28, 2020
Celsius Is Now Allowing Users To Buy Tether Gold With Debit & Credit Cards
  • Major crypto-lending startup Celsius is allowing its users to purchase gold-backed stablecoin Tether, using debit and credit cards with a minimum purchase of $50 and annual interest rates of 4%.
  • Celsius is expanding its partnership with Simplex, which will also unlock debit and credit card purchases for its native token (CEL).
  • According to Celsius users can earn interest in CEL on 25 different virtual cryptocurrencies at a rate of up to 30%.
  • On May 5 Celsius officially rolled out Tether Gold for depositing on its app, which allowed users to earn 3% of the annual percentage yield. Celsius is one of the few global companies that offer interest on Tether Gold deposits via debit and credit card purchases.
  • In February of 2020 Celsius launched in-app crypto purchases of Bitcoin and Ether via debit and credit cards through their partnership with Simplex.
  • Read the full article here
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Posted on May 28, 2020
Posted: May 28, 2020
IMF Expert Believes Private-Public Partnership Is Best Move Forward For CBDC
  • Tommaso Mancini-Griffoli, a representative from the International Monetary Fund (IMF), believes a synthetic private-public partnership could be the best move forward for central bank digital currency (CBDC).
  • Mancini-Griffoli believes this type of partnership, as opposed to a CBDC completely controlled by a central bank, will empower private sectors to continue to innovate.
  • This type of synthetic partnership would allow private sectors to issue liabilities backed by the central bank reserves and would overall help to regulate and supervise businesses and institutions.
  • A regulated environment could provide an equal playing field for all private sector stablecoin innovators to grow as well as mitigate the financial stability risks they pose.
  • Mancini-Griffoli says that the best way to design the private-public partnership is an ongoing debate, noting that the “fundamental question is about issuing.”
  • He also maintains that the intention is not to “rock the boat” and that there would not be a massive wave of deposits moving away from banks due to these partnerships.
  • Read the full article here

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Posted on May 28, 2020
Posted: May 28, 2020
JP Morgan Agrees To Pay $2.5 Million In Crypto Fee Class Action Settlement
  • JP Morgan Chase NA, the consumer and commercial branch of JP Morgan, has agreed to pay $2.5 million related to its decision to consider purchases of cryptocurrency with credit cards as cash advances.
  • Previously Chase had processed credit card payments of crypto as purchases, but in 2018 the bank began to consider them as cash advances which resulted in higher fees for cardholders.
  • Brady Tucker, who initiated the suit, said that the plaintiffs are happy with the settlement and believe the $2.5 million constitutes more than 95% of the damages suffered by the class members.
  • Chase argued that the 2018 change was not a violation of federal consumer protection laws and still admits no wrongdoing despite the settlement.
  • The plaintiffs were able to prove that Chase violated provisions of the federal Truth and Lending act related to “clear and conspicuous” disclosures.
  • In May of 2020 Chase would extend its banking services to Coinbase and Gemini, marking the first time America’s largest bank accepted clients from the crypto space.
  • Read the full article here

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Posted on May 28, 2020
Posted: May 28, 2020
Electroneum To Expand Into Africa By Launching Electricity Top-Ups
  • Blockchain-based digital payment project Electroneum announced that they will be launching an in-app electricity top-up feature across 4 African countries: Nigeria, Senegal, Mali, and The Gambia.
  • The feature will allow ETN app users to top-up their electricity meters directly from the app by paying in ETN tokens.
  • The depreciating value of ETN tokens has caused users to be underwhelmed with the overall growth of the ETN app.
  • Electroneum maintains that its “Phase One” has been successful in bringing in and maintaining new users on the app, noting that there are around 1 million active ETN app users.
  • Electroneum is working on the ground level to reach more people in developing countries. Working with NGOs in these countries is a possible way to ensure wider use of cryptocurrencies.
  • Read the full article here

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Posted on May 28, 2020
Posted: May 28, 2020
XRP Expected To Continue Plummeting
  • Despite experiencing a brief surge last week, XRP has fallen in recent days.
  • XRP’s inability to keep up with Bitcoin has kept it under key support levels.
  • A chart created by crypto analyst Josh Olszewicz shows that XRP is trading below two key levels: the 200-day exponential moving average and a horizontal support zone.
  • Olszewicz claims XRP could fall even lower than it already has.
  • Mohit Sorout, founding partner at crypto investment fund Bitazu Capital, also foresees XRP continuing to plunge.
  • Other analysts believe that altcoins in general are poised to drop as the calendar gets set to turn to June.
  • Jeff Dorman, CIO of crypto hedge fund Arca, opined that altcoins are largely investable assets because they fell at the same time as Bitcoin.
  • Read the full story here.
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Posted on May 27, 2020
Posted: May 27, 2020
Coinbase Set To Acquire Crypto Brokerage Tagomi
  • As part of its evolving strategy for institutional investors, Coinbase is acquiring the Peter Thiel-backed crypto brokerage Tagomi.
  • Increasing numbers of hedge fund and macro investors led to Coinbase reaching an agreement to acquire Tagomi.
  • A rise in institutional clients has prompted Coinbase to add new features to its exchange service such as margin trading.
  • Prior to being acquired, Tagomi was viewed as a major rival to Coinbase’s professional trading platform, Coinbase Pro.
  • Tagomi is seen as a credible, regulated crypto brokerage firm, having obtained its license from the New York State Department of Financial Services last year.
  • Tagomi’s partnership with Binance.US and membership in the Libra Association are considered strengths.
  • Read the full story here.
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Posted on May 27, 2020
Posted: May 27, 2020
Ripple CEO Believes U.S. Regulators Must Get Behind Cryptocurrency To Avoid Taking Back Seat To China
  • Ripple CEO Brad Garlinghouse is calling on U.S. regulators to embrace cryptocurrencies before the country falls further behind China.
  • Garlinghouse claims China’s upcoming digital yuan has potential to surpass the dollar as the global reserve currency.
  • China’s central bank digital currency (CBDC) does not have a launch date yet, but it is currently being tested in a number of regions.
  • Garlinghouse believes the U.S. is well behind China in terms of a national digital currency.
  • To make up lost ground, Garlinghouse thinks the U.S. should take a more welcoming approach to public digital assets such as XRP.
  • Unlike China’s soon-to-be digital yuan, XRP would not be exempt to financial oversight by the U.S.
  • Read the full story here.
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Posted on May 27, 2020
Posted: May 27, 2020
Bitcoin Soars To $9,100 As Dow Anticipates 400-Point Open
  • Bitcoin soared to $9,100 — a 4% increase — ahead of Wednesday’s opening bell.
  • The gains come after Dow Jones hinted at a massive 400-point rally.
  • Investors are reportedly optimistic about Bitcoin’s future after Goldman Sach’s early morning call with clients.
  • However, Bitcoin’s jump followed a 10% downside correction after failing to surpass $10,000.
  • Despite this, there is optimism Bitcoin can retain its short-term positive correlations with recent Wall Street indicators.
  • Analysts believe Bitcoin’s growth was aided by higher levels of liquidity. 
  • Some are also under the impression that Goldman Sachs wants to gain exposure in the Bitcoin market — another promising sign for the cryptocurrency.
  • Read the full story here.
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Posted on May 27, 2020
Posted: May 27, 2020
Goldman Sachs Downplays Bitcoin Potential
  • In a recent call that focused on the future U.S. economic outlook, Goldman Sachs specifically mentioned Bitcoin alongside gold, exciting the cryptocurrency community.
  • However, as details of the conference leaked to the public, it has become clear that Goldman Sachs does not think highly of Bitcoin.
  • The firm believes Bitcoin and other cryptocurrencies are not an asset class.
  • This came as a surprise, as many expected Goldman Sachs to endorse Bitcoin following recent praise from billionaire hedge fund manager and philanthropist Paul Tudor Jones.
  • Goldman Sachs added that crypto assets do not generate cash flow like bonds, while failing to provide consistent diversification benefits. 
  • Goldman Sachs is also leery of Bitcoin’s volatility, citing its 37% decline in March.
  • As a result, the firm doesn’t believe Bitcoin can act as a hedge against inflation.
  • Bitcoin isn’t viewed as a viable investment due to the valuations being driven by one investor selling to another at a higher price.
  • Read the full story here.
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Posted on May 27, 2020
Posted: May 27, 2020
Australian University RMIT Announces Blockchain Postgraduate Program
  • Australian public research RMIT has announced they are adding two postgraduate programs in cybersecurity and blockchain technology.
  • The university is partnering with IBM, Palo Alto Networks, and Stone & Chalk to offer the programs which are expected to start in October of 2020 and last nine months.
  • RMIT introduced the programs in order to meet the rising demand for industry professionals in cybersecurity and blockchain, noting that just 1 in 20 managers is able to easily find professionals in the field.
  • The Australian cybersecurity industry is expected to nearly triple over the next six years which would create the demand for 18,000 professionals in the country.
  • RMIT Online CEO Helen Souness believes that cybersecurity & blockchain technologies are emerging as “business-critical skills” and they are aiming to deliver the training to provide those skills in the Australian workforce.
  • Head of blockchain for IBM Australia and New Zealand Rupert Colchester says that graduates of the blockchain program will be able to help companies apply the technology to their operations.
  • Read the full story.

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Posted on May 26, 2020
Posted: May 26, 2020
Delta Exchange To Expand Into Indian Market Thanks To New Funding
  • Delta Exchange has announced new funding from Blockchain investor CoinFund aimed to provide resources for both parties to expand into India.
  • According to the announcement, CoinFund is looking to implement its first venture investment in India following the recent lift of the Reserve Bank of India’s ban on banks serving crypto-related firms.
  • CoinFund managing partner Alex Felix believes the decision to overturn the ban has primed Indian market for massive growth in crypto.
  • Delta Exchange CEO and co-founder Pankaj Balani says that India is a “huge untapped” market for both crypto spot markets and the crypto derivatives segment.
  • Balani also believes that “a lack of players” in India is due partly to the continual reluctance of many banks to offer services to crypto companies, though the growing demand from customers is changing that.
  • Read the full story.
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Posted on May 26, 2020
Posted: May 26, 2020