The price of Bitcoin (BTC) abruptly dropped on Sep. 29 from $10,950 to $10,630 overnight, recording a 3% drop. Following the rejection at $11,000, the sentiment of traders remains mixed. Some are cautiously optimistic under the premise that BTC reclaims the $10,700 level. Technically, analysts...
Malaysian billionaire steps down to pursue ‘horse currency’ offering
The founder of Malaysian investment giant Country Heights Holdings is stepping down from his position to focus on issuing a cryptocurrency. According to a Sept. 28 article in news outlet The Edge Markets, billionaire Lee Kim Yew — also known as Lee Kim Tiong —...
Congress weighs crypto payments and fintech lending in hearing today
In a hearing on Tuesday, the Congressional Fintech Task Force heard arguments on new rules that would potentially expand banking regulations to accommodate more technology firms providing financial services. A subunit of the Financial Services Committee, the Fintech Task Force leads the committee’s examinations of...
Afraid of DeFi? Here’s how to earn 41% APY on Bitcoin without wrapping it
The number of investors interested in yield farming has grown immensely over the past 6-months as decentralized finance (DeFi) applications became better known and easier to use. This has led to an uncountable number of liquidity pools offering annual percentage yields (APY) surpassing 1,000% and...
Blockchain legislation passes the House, heads for Senate
The updated Consumer Safety Technology Act, which now includes the Digital Taxonomy Act and the Blockchain Innovation Act, has passed in the House of Representatives and is now headed for the Senate as of Tuesday afternoon. The Digital Taxonomy Act provides definitions for the terms “digital asset”...
DeFi is too ‘noisy,’ MyEtherWallet CEO says
The crypto space’s decentralized finance niche has reached frenzied status within the crypto industry, signaled by exuberant price highs and rampant speculation. “DeFi is the new overhyped concept in Ethereum,” MyEtherWallet, or MEW, CEO and founder Kosala Hemachandra told Cointelegraph in an interview. “The noise is...
Blockchain patent filing rose significantly in China after Xi Jinping’s 2019 endorsement
Recent figures published by Chinese media outlets show that companies in China have filed for over half of all global blockchain patents. According to a report titled “2020 Blockchain Industry Development”, Chinese companies have applied for 4,435 blockchain patents following Chinese president Xi Jinping’s endorsement...
The Cardano Foundation’s new CEO says he will prioritize the platform’s longevity
Cardano recently celebrated the third anniversary of its Mainnet launch. In the run-up to this occasion, Cointelegraph had the opportunity to discuss the project’s future plans with the Cardano Foundation’s incoming CEO, Frederik Gregaard. Gregaard, who has not yet officially assumed the post of CEO, assured us...
Mainstream lags in crypto understanding, think tank survey finds
The Royal United Services Institute and the Association of Certified Anti-Money Laundering Specialists, collaborating with YouGov, conducted a survey on authorities’ perception of the crypto industry. “The RUSI-ACAMS Cryptocurrency Risk & Compliance Survey provides unprecedented insight into how governments, the cryptocurrency industry, traditional financial institutions,...
COVID-19: Decentralization the norm as workplaces adjust to new normal
2020 will forever be remembered as the year of COVID-19, but there is no telling what the long-lasting effects of the pandemic will be on the global economy. Around the world, countries have been forced to shut down their local economies, with people having to...