Month: April 2020

Andreessen Horowitz Raises $515M for Second Dedicated Crypto Fund

Silicon Valley investment powerhouse Andreessen Horowitz (a16z) is doubling down on crypto, even as digital assets have struggled to find footing since the firm raised $300 million for its first-ever fund dedicated to crypto companies. Top venture capital firm has collected $515 million for its second crypto, which will back new cryptocurrency-related ideas, but it was not clear …

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Nasdaq Partners With R3 to Help Build Institutional-Grade Digital Assets

The world’s second-largest stock exchange and capital markets technology company, Nasdaq, has entered a partnership with enterprise blockchain solutions platform, R3.  R3 announced the partnership on April 29, 2020, stating that Nasdaq will use its blockchain software, Corda, among other services. Their intention is to help financial institutions easily build and deploy institutional-grade digital assets. …

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Local Chinese Government Launches Its First Blockchain Platform

The government of Anhui, a province in eastern China and a part of “Yangtze River Delta Economy Region”, has officially launched its first blockchain platform for providing government services. The launch occurred on April 30, according to local news reports. Starts with local law sector “Blockchain + Electronic Certificate and License” is also the first …

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Famous Venezuelan Entertainer Quits Acting to Lead Controversial Crypto Startup

Long-time Venezuelan actor and singer, Fernando Carrillo, has announced his retirement from acting. He has decided instead to venture into the crypto business. Starting May 1, Carrillo will become the CEO of Fight to Fame, though his role only extends to Mexico and the Latin American region. According to an article published on April 29 …

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Bitcoin Lender Genesis Global Issues $2 Billion in Loans During Record Quarter

Genesis Global Trading has reported a 100% jump in new loan originations in the first quarter. The cryptocurrency lender and trading platform added a record $2 billion in new loans in the three months leading to March 2020, up $1 billion from the previous quarter. BTC accounted for 44.8% of the loans and bitcoin cash …

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Justin Amash Reveals Third-Party Presidential Bid: Pro-Bitcoin Libertarian Candidate Targets Trump’s Seat

U.S. President Donald Trump now has an unexpected challenger as the independent congressman from Michigan, Justin Amash, says he plans to run as a Libertarian candidate in the 2020 election. Besides John McAfee and Adam Kokesh, Amash is also a pro-crypto candidate, a believer in free markets, and has spoken positively about bitcoin seven years …

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Bitcoin Doubles Gold’s YTD Rate of Return in 1 Day as Gains Top 27%

Bitcoin (BTC) hitting almost $9,500 on April 30 was a boon for cryptocurrency investors — but gold bugs were left holding the buck. As BTC/USD climbed to eight-week highs on Wednesday, the pair’s already handsome year-to-date returns began outshining its last major competitor — gold. Schiff blames speculators as BTC launches As Cointelegraph reported while …

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Bitcoin Price Slides Below $9K as Trader Suggests ‘Technical’ Retrace

Bitcoin (BTC) bounced off $8,500 on April 30 after fresh volatility saw the largest cryptocurrency shed 8% in hours. Cryptocurrency market daily overview. Source: Coin360 BTC price tests reclaimed support Data from Cointelegraph Markets and CoinMarketCap showed a swift reversal for Bitcoin on Thursday trading, diving from highs of $9,440 to lows of $8,530. At …

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Stablecoins Provide Cover as Global Risks and Uncertainty Quake

As the global economy trembles, investors continue to find sanctuary in stablecoins. In the most recent 12-month period (ending April 29, 2020), the three top stablecoins — Tether (USDT), Circle (USDC) and Paxos (PAX) — increased their market capitalization by 161%, 191% and 146%, respectively. Kim Grauer, head of research at Chainalysis, told Cointelegraph that …

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The Case for a Surging Tokenization Demand Following the COVID-19 Pandemic

One of the most curious and subtle developments of the COVID-19 global pandemic is the surging demand for stablecoins. Their total supply hit an all-time high recently — roughly $7.5 billion — with demand for Tether (USDT) and USD Coin (USDC) soaring. The development implicitly foreshadows financial disruption as desperate emerging market governments, foreign financial …

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