Data Shows $1,000 Bitcoin Price Gains Are Followed by 38% Drawdown

This week Bitcoin price pulled off an incredible rally that appears to have exceeded the expectations of many investors. Data from Cointelegraph Markets and CoinMarketCap shows record trading volume across multiple crypto exchanges occurred as Bitcoin rallied to $9,400 but this doesn’t mean that the long awaited bull market has started.  Crypto market daily price chart. Source: Coin360 History shows that whenever the Bitcoin (BTC) price increased by more than $1,000 on a single day, it was susceptible to a major correction. The recent surge from $7,700 to $9,400 and…

Noted Tax Haven Cayman Islands Sees New Bills to Bring Local Crypto to FATF’s Heel

On April 28, the legislative assembly of the Cayman Islands gazetted five new pieces of legislation governing crypto businesses — especially exchanges.  How the new legislation would change the Cayman Islands’ crypto industry The Virtual Asset Service Provider Bill would establish definitions and registration requirements for companies providing crypto services including exchanges, custodians and decentralized financial operators. Accompanying this bill are amendments to other reigning pieces of finance legislation for securities and stock exchanges. A provision included in the VASP Bill is the sandbox license. Such licenses would allow companies…

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 by the Mexican newspaper, El Universal, Carrillo will lead the Singapore-based crypto firm founded by Morgan Shi. This company is known for issuing the FF Token. Actor sees Blockchain as the “future” Fernando, who is…

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 application being launched on the government’s blockchain platform, says the report. The application will initially place lawyer’s practice licenses on the blockchain. This will help to provide better transparency and authentication in the sector. The…

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. This is a long-term, non-exclusive partnership between the two firms, which means Nasdaq can still collaborate with other blockchain solution providers to work on new projects. R3’s compatibility with highly regulated environments inspired the partnership…

Matic Announces a Privacy-Centric Coronavirus Tracking App

Blockchain scalability solution, Matic, launched a privacy-focused coronavirus tracking mobile application. According to an April 29 announcement, the new app — dubbed Tracy — leverages the Matic network for contact tracing and quarantine management. The solution also uses decentralized data storage solution, MóiBit, to store sensitive data. Per the announcement, Tracy is the first blockchain-based solution that was developed for quarantine management and contact tracing. The application is meant to let users understand how likely they are to have come in contact with somebody who tested positive for the coronavirus.…

World’s First Crypto Bank Adds Support for Ripple’s XRP

Sygnum Bank, the first crypto bank licensed by FINMA, announced on April 30 that Ripple’s XRP tokens are now available through its banking services platform. Users can access deposit, exchange, and credit services using the popular digital currency. Based in Switzerland, the bank will now allow the third most capitalized digital token behind Bitcoin (BTC) and Ethereum (ETH) to be used by clients seeking to diversify their direct investments in digital tokens, in conjunction with other asset management products offered. Sygnum customers can use deposits in traditional currencies, such as…

Google Keeps Promoting Crypto Scams Despite Strict Crypto Policies

While Google’s subsidiary, YouTube, is facing a lawsuit for promoting cryptocurrency scams, Google’s advertising platform continues to display fraudulent crypto ads through its advertising network. According to a report by Bitcoin (BTC) crypto exchange, CoinCorner, Google Ads was running an ad for CoinCorner’s phishing clone website, CoinCornerr.com. The issue was reported by CoinCorner’s marketing manager, Molly Spiers, on April 30. Google Ads promotes a crypto scam but doesn’t want to promote a real firm Spiers told Cointelegraph that CoinCorner’s team first noticed the fraudulent ad on Thursday morning after searching…

Cypherium Blockchain Joins Microsoft for Startups

Cypherium blockchain joins the Microsoft for Startups program with the goal of becoming a part of the company’s blockchain-as-a-service, or BaaS, offering in the coming months. Cypherium blockchain uses a combination of proof-of-work, or PoW, and HotStuff consensus algorithms. The latter is also used by Facebook’s Libra project.  Libra retreating In a Cointelegraph interview, Cypherium CEO, Sky Guo, said that with the recent changes made to the Libra whitepaper, his project is seemingly the only permissionless platform to use HotStuff: “Also Libra originally planned to become permissionless in the next…

One Crypto Youtuber’s Banning Nightmare Still Not Over

While many other accounts have seen reinstatement shortly following their bans in recent days, YouTube has still not brought the CrytptosRus channel back to life. It has now been three weeks since the channel creator’s original petition for reinstatement.  “My channel is still banned,” CryptosRus host, George, told Cointelegraph in an April 28 email, adding that YouTube has not updated him on the situation. “I appealed the decision three times now,” he said.  YouTube bans for days The social video platform banned and flagged a large number of high profile…