NFL Star Russell Okung Backs Bitcoin Rewards Startup

Russell Okung, an NFL player for the Los Angeles Chargers, is backing the Bitcoin rewards app and debit card Fold. Okung Ventures, the venture startup founded by NFL star Russell Okung, is backing Bitcoin (BTC) loyalty outfit Fold to help crypto holders earn BTC as well as spend it. The Los Angeles Chargers player invested in, and has been promoting Fold, an app which offers users the ability to spend Bitcoin or fiat currency at major retailers such as Amazon, Uber and Starbucks. Similarly to cashback rewards from major credit…

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Investor Z Fights to Redact its ‘Secret Sauce’ in Telegram ICO Case

Almost a dozen investment firms have sought the redaction of documents detailing their strategic analyses in the SEC’s case against Telegram. An unnamed investment firm dubbed ‘Investor Z’ is one of almost a dozen firms battling the U.S. Securities and Exchange Commision (SEC) to keep their Gram token investment strategies secret. The 11 investment firms want their proprietary analyses of the Telegram initial coin offering (ICO) to be redacted from the case. Investor Z argued that divulging their strategies is like publicly revealing the recipe for Coca Cola. The long…

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Stablecoins and Crosschain Loans: 2 Projects Attempt to Bring Defi Solutions to Bitcoin

While decentralized finance (defi) solutions have grown popular on the Ethereum blockchain, developers have recently created similar systems by leveraging BTC’s network. A project called Atomic Loans claims to offer a noncustodial bitcoin-backed stablecoin solution, while Money on chain a new smart contract built on the RSK protocol, also offers a stablecoin token. An Attempt to Defi Bitcoin There’s been a lot of buzz over the last two years and phrases tossed around like “decentralized finance (defi)” or “open finance.” Most of the time, cryptocurrency proponents are talking about the…

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Bitcoin SV’s Jimmy Nguyen: ‘Google Me’ If You Want to Serve Your Subpoena

Bitcoin SV’s Jimmy Nguyen has denied claims he is “intentionally evading” a subpoena in the Craig Wright case and said he’s easily located via Twitter or Google. Bitcoin SV’s Jimmy Nguyen has denied claims he is “intentionally evading” a subpoena in the long-running court case brought by the Kleiman against Satoshi-claimant Craig Wright.  Nguyen’s legal team has submitted an opposition to the Kleiman Estate’s motion that he comply with a subpoena to produce documents and testify in the case, which involves a dispute over ownership of the 1.1 million Bitcoin…

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Eerily Accurate Trader Says the S&P 500 Is on Thin Ice, and That’s Bad for Crypto

After remarkable rallies from the lows, both crypto and the stock market have reversed over the past few days. Bitcoin has shed 9% from the local highs while the stock market has tumbled 5%, responding to a crash in the demand for oil, which resulted in barrels temporarily trading negative on April 20th. With this tepid price action, fears are once again mounting that global markets are ready to tumble lower once again. Unfortunately, crypto assets are unlikely to benefit from such a move; in fact, they’re likely to fall…

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Senate Passes New $484 Billion Pandemic Aid Package

The Senate has passed a new $485 billion pandemic aid bill to help small businesses and hospitals. A month after the massive $2 trillion stimulus bill passed and the U.S. Senate has approved a supplemental $484 billion aid package to help small businesses and hospitals get through the tough times.  The package, which was the subject of frenetic negotiations over the past two weeks, allocates $380 billion towards small business loan programs, $75 billion to emergency funding for hospitals and $25 billion for disease testing. The legislation will be sent…

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Bitcoin Price Hangs on to Key Support Level as Stocks and Oil Tip Over

The drop in oil prices is now negatively impacting the stock market, leading crypto investors to worry about the future of Bitcoin price. The shockwaves from yesterday’s explosion in the oil markets continued to damage oil prices and shrapnel from the blast caused damage to equities today as U.S. markets closed in the red after a nearly 3-week rebound.  West Texas Intermediate crude closed down 9.49% at $9.06, and June 2020 futures dropped from $22.58 to $13.12. What is clear is that investors remain fearful about the future of the…

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Consensys Cuts Hundreds of Jobs This Year – About 25% of Its Staff Slashed

Ethereum-based company Consensys has cut hundreds of jobs since January. In its latest action, the US-based blockchain development team confirmed it will slash more than 90 jobs – or 14% of its workforce – citing the global impact of Covid-19. The decision comes after a virtual town hall meeting on April 20, reports say. The number of employees sacked at Consensys this year now runs into a few hundred, following another round of dismissals in February. Then, 14% of the staff were sent home. In a statement, Consensys said it…

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Bitcoin Money Flow and Futures Volume Signals Intense Volatility is Imminent

Bitcoin’s futures market is seeing surging aggregated open interest as the crypto finds itself caught within a bout of lackluster trading This coincides with the crypto seeing a decline in money flow The confluence of these factors suggests that BTC is gearing up for a big movement Bitcoin’s price action seen in recent times hasn’t been too exciting. This period of lackluster trading plagued with multiple prolonged bouts of sideways trading has come about in the weeks following its intense capitulatory decline to lows of $3,800. This consolidation may not…

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Ransomware Attacks Are Way Down in the Midst of COVID-19

Emsisoft highlighted a considerable decline in the successful ransomware attacks in the US. An April 21 report by malware lab Emsisoft showed that there was a significant drop in the number of successful ransomware attacks on the US public sector during Q1 2020. The findings show a total of 89 organizations were victims of ransomware in the first quarter of the year. And as the COVID-19 crisis deepened, successful attacks fell even lower, to levels “not seen in several years.” Government entities were attacked less frequently, with those numbers going…

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