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Down 26%: Bitcoin Sees Worst Sell-Off in 7 Years as Coronavirus Spurs Flight to Safety

Bitcoin (BTC) suffered its biggest drop in seven years, as fears over the spreading coronavirus triggered a new wave of selling in everything from stocks and junk bonds to cryptocurrencies. This came despite a new European Central Bank pledge to pump more cash into panicky markets.  Prices for the largest cryptocurrency by market value plunged 26 percent to $5,863 as of 13:54 UTC (9:54 a.m. Eastern time). The move wiped out bitcoin’s gains for...

US Homeland Security Charges LocalBitcoins Seller on Money Laundering Charges

Washington state resident Kenneth Warren Rhule has been charged with laundering over $140,000 in bitcoin after agents with Homeland Security Investigations (HSI) made a series of undercover cash-for-crypto deals with the 26-year-old.Rhule faces multiple counts of operating an unlicensed bitcoin money transmitter business and laundering monetary instruments after allegedly meeting with government agents “posing as criminals” interested in buying untraceable bitcoin for their human trafficking operation. Rhule was a seller on LocalBitcoins, a...

Blockforce Capital’s Crypto Fund Captures 86% of Bitcoin’s Upside in 2020

In the first two months of 2020, Blockforce Capital’s multi-strategy master fund saw a 16.8 percent return compared to a 19.5 percent return in bitcoin, the company announced in a note to accredited investors. Blockforce is a seasoned ETF issuer which specializes in alternative investment vehicles for investors. In February of last year the company infamously filed the first proposal for an exchange-traded fund made up of a mix of currencies including bitcoin only...

Nike, Macy’s Run Blockchain Trial With Auburn’s RFID Lab

Blockchain might help major apparel brands from Nike to Macy’s better share product data across the retail supply chain, according to a white paper Auburn University’s RFID Lab published Wednesday.The study, named the “Chain Integration Project" (CHIP), saw those retailers and others run Hyperledger Fabric nodes on a slice of their mammoth supply chains. The study found blockchain to be a promising way to share serialized data after following tens of thousands of...

Bitcoin Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ

Bitcoin's (BTC) price jumped the most in two weeks Monday, surging alongside U.S. stocks amid speculation the Federal Reserve and other central banks will support markets as the coronavirus spreads. The largest cryptocurrency by market value rose 4.1 percent to $8,874 as of 17:53 UTC (12:53 p.m. ET). The move followed last week’s 14 percent sell-off, the harshest in three months. Despite a belief among some investors that bitcoin should trade as a safe-haven asset...

Bitcoin Price Falls After One-Hour Volume Spike

An hour of high-volume trading on Tuesday resulted in bitcoin (BTC) trading lower, giving back nearly half of the previous day’s gains.At around 3 p.m. ET (15:00 UTC), trading volume on cryptocurrency exchanges spiked as bitcoin prices jumped from $8,674 to $8,898, almost a percentage point, within one hour. Coinbase, for example, saw volume rise from 437 trades to 1,699 trades from 14:00 to 15:00 UTC. Bitcoin is trending downward overall, dropping from...

G20 Urges Countries to Adopt Tough FATF Rules on Cryptocurrencies

Finance ministers and central bankers from the G20 are pushing for wider adoption of standards that compel cryptocurrency exchanges to disclose user information.Following a summit in the Saudi-Arabian capital Riyadh over the weekend, representatives from G20 financial institutions pressed countries that have not done so already to align themselves with global cryptocurrency standards from the intergovernmental organization, the Financial Action Task Force (FATF)."We urge countries to implement the recently adopted Financial Action Task...

How to Protect Bitcoin for Your Heirs With the Push of a ‘Dead Man’s Button’

What happens to your bitcoin after you die?This is more than just a philosophical question: It could involve a substantial amount of currency.The question of crypto and the Great Beyond is what prompted about 20 or so developers to get together in London recently to experiment with repurposing the current lightning protocol to send private messages as a “dead man's button,” a system that can't be censored and would keep your crypto safe...

China Has Many Strategic Reasons To Invest in Blockchain

Byrne Hobart, a CoinDesk columnist, is an investor, consultant and writer in New York. His newsletter, The Diff (diff.substack.com) covers inflection points in finance and technology. In October, China’s President Xi Jinping said China should “seize the opportunity” to use the blockchain. To cryptocurrency advocates, this is exciting – and confusing. Why would a deeply centralized country want to use an intrinsically decentralized technology? Why would a country that exercises tight control over its...

You Are the Product: A Three-Step Plan to Take Back Control of Personal Data

Entrepreneur and investor Jennifer Zhu Scott is a Council Member of The Future of Blockchain Council at the World Economic Forum and holds a dual fellowship with the APAC Program and the Digital Society Initiative at Chatham House. She is also a consultant to the HBO show “Silicon Valley.”Let's state a simple fact. Your traits and intimate personal information, such as your relationships, location histories, sexual orientation, genetic details and your children's images...
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