New Breed of Ransomware Threatens to Expose Victoria’s Secrets

A series of ransomware attacks over the past week affected medical care, hundreds of thousands of parcel deliveries during the pandemic — and even a lingerie manufacturer. Attackers are threatening to leak sensitive data if companies fail to make the required payments. ITNews reported that the Australian logistics giant Toll Group suffered its second ransomware attack so far this year, with a type of ransomware known as “Nefilim.” Toll Group had shut down its IT system after detecting “unusual activities.” The company — responsible for delivering many hundreds of thousands…

Here’s Why Oil Prices Will Never Recover

This rally can only go so far as supply concerns threaten to sink oil prices once again. Even as economies reopen, demand for oil will remain depressed. The OPEC+ cuts weren’t enough to offset weak demand. Last month when oil prices fell to the horrifying low of -$42 per barrel, investors started to worry about looming oversupply issues. Simply put, the world is running out of places to store the stuff as coronavirus lockdowns weigh on demand. But this week we saw prices start to rise, and Donald Trump was…

A Quarter Million Deaths Later, Dutch Team Finds Coronavirus Blocker

  A Dutch team may be on to a cure for the SARS coronavirus. In a report published Monday, researchers say they’ve stopped the virus from spreading in cell cultures with a potent antibody. Many lives and an economic recovery hang in the balance as scientists race for a safe, effective coronavirus treatment. Since spreading from an animal “reservoir” within the ecosystem to humans, the coronavirus or SARS‑CoV has caused over 250,000 deaths. Biotech companies and university labs have been racing to find a vaccine or antiviral treatment. Now a…

Severe Disney Earnings Miss Is About To Ruin The Dow’s Week

Disney just posted a harrowing earnings miss for quarter one. Its stock fell in after hours trading, along with Dow futures and ETFs. The stunning report could shell shock the Dow the rest of this week. Disney badly missed Wall Street expectations in its first quarter earnings report. That is likely to drag down Disney stock (NYSE:DIS) and the Dow Jones after the benchmark rallied Monday and Tuesday. Disney shares didn’t share in the rally. Even on Star Wars Day (May the Fourth be with you!), DIS took a 2.08%…

Bitcoin’s Halving Incentivizes Miners to Sell for Double, Decred Co-Founder Says

Decred co-founder and project lead Jake Yocom-Piatt predicts that the coming reduction in Bitcoin’s (BTC) mining payout will have miners upping prices. “Since the Bitcoin halving means that miners will receive half as many Bitcoins for the same amount of work, this doubles the unforgeable costliness of creating Bitcoin,” Yocom-Piatt told Cointelegraph in a May 1 email, adding: “Miners’ costs are effectively fixed, so to maintain the same profit margins, they are incentivized to double the price at which they sell their Bitcoin. I expect this supply shock will drive the Bitcoin price up by moving…

COVID-19 Charity Concert Goes Live

Lockdown shouldn’t mean pop and lock-down. That’s just one takeaway from today’s free electronic dance music concert organized by The Giving Block and Multiplied to benefit charities on the front lines of the COVID-19 pandemic. The concert is live streamed on May 5th from 6 pm – 10 pm Eastern Time (10 pm – 2 am GMT) and features some of the most popular EDM artists in the club world — including blockchain advocate 3LAU, Grammy award-winner RAC, Kill Paris, and ill.Gates. 3LAU has remixed artists such as Rihanna, Katy…

European Central Bank Calls for Proactive Stablecoin Regulation

In a recent in-depth report on global stablecoins, the European Central Bank, or ECB, pushed for clear regulatory parameters for stablecoins, citing risks as well as gaps in current regulations.  “In order to reap the potential benefits of global stablecoins, a robust regulatory framework needs to be put in place in order to address these risks before such arrangements are allowed to operate,” the ECB wrote in its May 5 report.  The deep dive sees potential, but not without risks The ECB’s report noted several benefits around international stablecoins, including…

The True Story Is Hilariously Awkward for the MAGA Crowd

Cinco de Mayo celebrates the Mexican victory over the French in the First Battle of Puebla in 1862. The modern-day American celebration of Cinco de Mayo has its roots in a 1980s marketing campaign. The MAGA crowd is hilariously, and awkwardly, unaware of both. On May 5, 1862, more than 6,000 French soldiers faced off against 2,000 Mexican soldiers at the First Battle of Puebla. Against all odds, Mexico won. And though Mexican independence would not be secured until five years later, “Cinco de Mayo” became a rallying cry for…

5 Reasons Why Institutional Investors Refuse to Join the Crypto Sector

For the past two years, crypto-media outlets and Bitcoin (BTC) advocates have placed heavy emphasis on the need for institutional investors to embrace the cryptocurrency sector. The oft-stated belief was that institutional inflow would lead to mass adoption and an incredible spike in the value of crypto-assets as a whole. Fast forward to the present, and the total cryptocurrency market capitalization has yet to reach the $750 billion all-time high seen in late 2017. The slow recovery of crypto prices raises a few hard to answer questions. If institutional funds…

Crypto Investment Advisory Firm Ranks Halving Scenarios

On May 4, CoinShares Research put out its ranking of the likelihood of various halving scenarios as well as their potential impact on the industry. Bitcoin (BTC) halving has captivated the imagination of the crypto industry and there is no lack of outlandish predictions forecasting anything from the death spiral that will destroy the Bitcoin network, to the one predicting its parabolic rise. Earlier today, this subject was also discussed in another episode of Cointelegraph Talks. In the latest post, CoinShare’s head of research, Christopher Bendiksen, analyzed five of the…