Block Network

September 21, 2020

SEC vs. Telegram: Part 1 — Key takeaways for now

The legal battle between the U.S. SEC and Telegram could be a strong warning against the SAFT process. Telegram is a popular, global, cloud-based instant messaging, videotelephone and voice-over service company. Particularly popular with crypto-enthusiasts, at the end of 2017, Telegram came up with a plan to raise funds to support the development of a […]

US banking regulator authorizes federal banks to hold reserves for stablecoins

Federal banks in the U.S. see new capacity to provide services to crypto firms, specifically stablecoin operators. Per an interpretive letter from the U.S. Office of the Comptroller of the Currency released on Monday, national banks will be free to hold reserve currencies for stablecoins.The new guidance reads, “We conclude that a national bank may […]

No, you can’t buy Venezuela’s Petro on any overseas exchanges

The Venezuelan government has not yet announced partnerships capable of listing PTR abroad. A New York-based crypto exchange has listed a token with the same name as the Venezuelan state-issued asset, the Petro (PTR). In reality however, the two are entirely unconnected.Exchanges such as BitMart have recently begun listing this similarly named token for trade […]

Price analysis 9/21: BTC, ETH, XRP, BCH, DOT, BNB, LINK, CRO, LTC, BSV

The market has taken a bearish turn and Bitcoin and altcoins will need strong relief rallies in order to restore their uptrends. Legacy and crypto crypto markets saw a strong correction today as traders fear that the second round of economic stimulus might be delayed as the White House, Senate and Congress could become entangled […]

Is a Bitcoin ‘death spiral’ imminent following yesterday’s massive difficulty adjustment?

Bitcoin experienced two massive mining difficulty adjustments recently. Is this something to be concerned about? Before the recent halving, many were prophesying a so-called “death spiral” for Bitcoin. This theory hinges on the idea that the halving of the block reward leads to an exodus of miners due to the sudden unprofitability of mining activities. […]

After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why

Ethereum price corrected 16% in 4 days, led by these three key factors. The crypto market saw a significant correction today and Ether (ETH) price did not escape the carnage. In the last 24 hours, the top altcoin recorded a 12% drop as the price fell to $331. In the same period, Bitcoin (BTC) price […]

Bitcoin is a better gold than gold itself, Tyler Winklevoss says

Bitcoin may never escape its ongoing comparisons to gold. According to Tyler Winklevoss, co-founder of the Gemini crypto exchange, Bitcoin beats gold at its own game. “Bitcoin is better at being gold than gold — and not just incrementally, but by an order of magnitude or 10X better,” Winklevoss said in a Sept. 21 tweet.  Over the […]

JD.com’s fintech wing partners with PBoC on digital currency projects

China’s e-commerce giant will reportedly help develop apps that support the forthcoming digital renminbi. The tech and payments-focused subsidiary of Chinese e-commerce company JD.com has entered into a partnership with the Digital Currency Research Institute of the People’s Bank of China.Local media reported on Sept. 21 that JD Digital Technology and the Digital Currency Research […]

ETH price loses ground, but network metrics say DeFi season not over yet

A look into the fundamentals of the Ethereum network — is the top altcoin losing momentum? Ether has dropped around 30% from its 2020 high of $482 on Sept. 1 to $340 in five days. The drop in the price of Ether (ETH) and Bitcoin (BTC) was largely due to the rising dollar, which has […]

Orchid adds a new ‘secret shopper’ oracle for greater transparency

Picking Chainlink over its competitors was an easy decision for Waterhouse. Decentralized VPN Orchid is adding a Chainlink oracle that, like a “secret shopper,” samples bandwidth pricing from all the providers in the network. Orchid co-founder Steven Waterhouse explained the importance of this feature, stating, “The basic idea is in decentralized services like Orchid, where we […]