The U.S. Congressional Budget Office has projected that the coronavirus crisis will cost the U.S. economy about $8 trillion. Many factors play a part in shrinking the economy, such as business closures, social distancing measures, consumer spending, a drop in energy prices, and recent legislation. Decade-Long Recovery Costing $8 Trillion The U.S. Congressional Budget Office
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Blockstream, the firm behind the Bitcoin (BTC) sidechains Liquid and Lightning Network, has launched its “Liquid Ventures Initiative,” which seeks to connect developers looking to build on the commercial sidechain with crypto investors. The announcement follows the completion of the first Liquid Demo Day, which saw participation from startups and developers from Hong Kong, Israel,
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On June 2, a South Korean court ordered a freeze on all the cryptocurrency wallets, securities deposits, and stocks account owned by Cho Ju-bin, the suspected head of Nth Room. Nth Room is a Telegram channel under investigation for circulating child pornography. According to KBS Korea, the Seoul Central District Court Criminal Settlement Division 30,
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This week the trading platform Bvnex Exchange announced the support of bitcoin cash on the Vietnam-based fiat-crypto trading platform. The support gives the Vietnamese market and other regions in Asia, the ability to trade bitcoin cash for VNDT- Vietnam dong. On June 2, 2020, the crypto exchange Bvnex listed bitcoin cash on the cryptocurrency trading
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Bitcoin’s explosive rally past $10,000 yesterday afternoon liquidated tens of millions in short positions The decline from this level seen this morning also led to mass liquidations amongst traders It is imperative to note that virtually all previous breaks above this level have been met with heavy selling pressure that results in capitulatory downtrends One
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Chinese authorities have released a master plan for turning southern island province Hainan into a free trade port, Xinhua news reports on June 1. A trade port system will focus on facilitating free trade, investment and cross-border capital flows in the whole island. Government institutions reform The master plan encourages government institutions to use blockchain
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The North American Collegiate League (NACL), one of the biggest in the U.S. for outdoor, indoor, and e-sports has teamed up with Ethereum-incubator ConsenSys Labs to bring crypto-rewards for tournament winners.  Bringing Crypto to E-sports Announced June 1, the partnership sees tournaments tracking and data reported via the Ethereum blockchain. Overall, the joint project wishes
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Crypto-friendly travel booking platform Travala has reported booking growth as demand for travel returns despite continued coronavirus crisis and extended lockdowns in many places. Its booking revenue in May soared 205% and 60% of all bookings were paid with cryptocurrencies. Travel Demand Returning Despite Covid-19 Travala.com, a website where travelers can book flights from over
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Despite local cryptocurrency uncertainty, Russia is strengthening its leadership on major peer-to-peer exchange LocalBitcoins in the share of Bitcoin (BTC) trading volumes. Russia has traded the most Bitcoin on LocalBitcoins exchange for two consecutive months, April and May 2020, according to an analysis by crypto media startup CryptoDiffer. Russia trades nearly twice as much BTC
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The transparency of blockchain operations means it is easy to pinpoint false information, thereby bolstering credibility, safety, and efficiency. Supply chain focused blockchain project VeChain has emerged as a go-to platform for traceability. Now, Sam’s Club China, a Walmart China-owned membership only premium shopping chain, has rolled out its version of a tracking platform called
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U.S. Immigration and Customs Enforcement’s (ICE) and Homeland Security Investigations (HSI), has put out a bounty for $5 million for the arrest and conviction of Venezuela’s superintendent of cryptocurrency. Joselit de la Trinidad Ramirez Camacho is now added to America’s Most Wanted List, as he is accused of transgressing against U.S. sanctions and working with
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Venezuela has announced that petrol stations across the nation will sell gasoline at a reduced price in exchange for the country’s state-issued, oil-backed cryptocurrency, the Petro. However, the announcement comes alongside the removal of local petrol subsidies that will see the price of gasoline spiking from close to nothing to $0.02 per liter. Venezuela introduces
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In an announcement dated June 1, 2020, the privacy-centric web browser Brave (BAT) stated it had crossed 15 million monthly active users and 5 million daily active users in May 2020. Brave Continues to Achieve More Milestones Brave, a web browser that aims to give users complete control over their digital identity and privacy continues to witness widespread adoption
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Major cryptocurrency exchange KuCoin has partnered with blockchain analysis firm Chainalysis to further its commitment to business compliance and user security within the rapidly evolving crypto industry. The exchange made the announcement on June 1, 2020. KuCoin Committed to Compliance and User Security KuCoin, an IDG-backed digital currency exchange, offering an array of cryptocurrency trading tools and
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Switzerland’s financial regulator, FINMA, has approved two Zurich-based banks to offer a range of cryptocurrency services, including trading and custody. Maerki Baumann Bank subsequently announced the launch of its trading platform for major cryptocurrencies while Incore Bank is offering a range of crypto services. Maerki Baumann Launches Cryptocurrency Trading Desk and Custody Service The Swiss
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Headlines From the Year 2030 Goldman Sachs stocks were down again today, closing 13% lower as the ailing behemoth was slapped with another trillion-dollar fine for its role in the Student Talent Untapped Potential Indemnified Debt (STUPID) meltdown. STUPIDs were undercollateralized ‘guaranteed’ debt swaps which duped investors into buying student loans against future graduate incomes.
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According to an early Bitcoin (BTC) developer, Satoshi Nakamoto sought help from outside cryptographers prior to launching Bitcoin. Laszlo Hanyecz, who worked closely with Satsohi in 2010, told Cointelegraph that he was befuddled by Satoshi’s choice of the elliptic curve secp256k1. The use of this curve, at the time, was unusual. National Institute of Standards
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