Isaiah Jackson on Bitcoin’s Impact

CoinDesk reporter Leigh Cuen is joined by Isaiah Jackson, author of “Bitcoin and Black America” and co-founder of KRBE Digital Assets Group, to talk about financial discrimination in the United States and the unique value bitcoin can offer minority communities. According to a survey of 5,126 Americans conducted by Coinbase and Qriously, “Twice as many Black Americans have been negatively impacted by the current financial system” compared to their white peers. As such, the survey suggested, they are much more likely to be curious about bitcoin (BTC). This finding is supported by…

Here’s Why Interest Rates on Cryptocurrencies Could Be a Game-Changer

Lending and borrowing cryptocurrencies is becoming an increasingly important sub-sector of crypto finance, one that may end up shaping how the underlying assets themselves are valued and priced in the markets.  While still in its infancy, the growth of crypto lending platforms has given birth to a new type of measuring metric: interest rates, which has the potential to draw in new investors while encouraging the movement of crypto capital out of storage and into markets. In traditional financial markets, interest rates reveal significant information about the health of the…

Alleged Crypto Capital Operator Faces New Wire Fraud Charge

Reginald Fowler, an alleged operator behind payment processor Crypto Capital, was charged with wire fraud Friday, on top of existing charges of bank fraud, operation of an unlicensed money transmission business and conspiracy. According to an indictment filed Friday, Fowler allegedly created a scheme to obtain money “by means of false and fraudulent pretenses” and directed the funds to a professional sports league. While the indictment does not name the league, Fowler was previously the primary investor in the Alliance of American Football, a short-lived alternative to the National Football…

Why Today’s Crypto Exchange Leaders Are Powerful, but Not Inevitable

As crypto traders ask why bitcoin prices shot downward, the power and influence of exchanges are at the center of the conversation. After settling in at the $10,000 price level, bitcoin (BTC) suddenly and rapidly fell more than 5 percent in an hour on Wednesday. As the market discusses possible explanations, some floated the unexpected simultaneous downtime of Binance and Coinbase as a causal factor.  In this episode of The Breakdown, we discuss the power exchanges wield – both in terms of market liquidity as well as the ability to…

Wikipedia Co-Founder Says Crypto Integration Would be ‘Completely Insane’

Wikipedia co-founder Jimmy Wales said Friday he has not seen a single practical use-case to convince him to integrate cryptocurrencies or blockchain into the platform. Speaking at the CoinGeek Conference in London, Jimmy Wales said cryptocurrencies would not add anything useful to Wikipedia. In fact, he believed it would prove detrimental to its vision and ultimately damage the unique way in which the platform operates. Speaking opposite Craig Wright, Wales said he tried to distinguish between the ideological and practical nature of cryptocurrencies. Wales has already turned down proposals from…

FCC Commissioner Jessica Rosenworcel: Restore Net Neutrality and Expand Internet to All

There are two warring factions at the Federal Communications Commission (FCC).  One side represents the business class, or the dominant internet service providers (ISPs) that want less regulation, freer markets, and the ability to determine how to run and where to build their networks. Its apotheosis is found in the current chairman, Ajit Pai. The competing side, represented by Jessica Rosenworcel, one of the five FCC commissioners, is fighting for the interests of consumers. Its cornerstone positions are the restoration of net neutrality and the expansion of broadband access for…

Binance and Others Are Rushing to Provide Stablecoins to Nigerian Crypto Users

The Nigerian cryptocurrency market may be on the verge of a local bull run, thanks to newly popularized avenues to the global market.  Emmanuel Babalola, Binance’s business manager in Nigeria, said he’s seen a 50 percent increase in signups so far in 2020, leading to “thousands” of new Binance users in Nigeria. Roughly 300 people signed up for a corresponding “masterclass” in Lagos in January, teaching users how to set up their own personal wallets and experiment with margin-trading strategies. There was so much demand for the six-hour class that…

The Domain Startups Building an Uncensorable Internet on Top of Ethereum

Ethereum developers are leveraging blockchain’s censorship-resistant nature to launch the next iteration of the internet, Web 3.0. Last weekend at ETHDenver – one of the conference circuit’s top gatherings of ethereum coders – decentralized internet alternatives were on display, including Ethereum Name Service (ENS), Unstoppable Domains and UniLogin. Launched in 2017 and 2018, respectively, ENS and Unstoppable Domains are confronting the hierarchical nature of the internet stack and the Domain Name System (DNS) by building out a peer-to-peer (P2P) internet alternative. Meanwhile, UniLogin provides a portal to Web 3.0 projects…

Binance Is Not Under Our Jurisdiction, Says Malta Regulator

Binance is neither licensed to operate nor is it regulated in Malta, the country’s chief financial watchdog has said. The Malta Financial Services Authority (MFSA) issued a statement Friday denying that it has ever regulated Binance or that the exchange has ever had leave to operate in the island nation’s fledgling cryptocurrency industry. Citing reports in the media that referred to Binance as a “Malta-based cryptocurrency company”, the regulator announced that “Binance is not authorised by the MFSA to operate in the crypto currency sphere and is therefore not subject…