What the Oil Market Says About Bitcoin’s ‘Safe Haven’ Status

Monday’s historic financial tumult reached beyond stocks, sinking commodities and even bitcoin markets. “I don’t think any asset is safe right now – except cash, U.S. dollars,” said Ali Khedery, formerly Exxon’s senior Middle East advisor and now CEO of U.S.-based strategy firm Dragoman Ventures. While bitcoin prices dropped nearly 10 percent over the weekend, Saudi Arabia slashed its export oil prices when Russia refused to support an Organization of the Petroleum Exporting Countries (OPEC) effort to reduce oil production. Coronavirus quarantines mean fewer cars on the road, economic slowdown…

Kraken Announces Plans to Expand Indian Operations As Crypto Ban Lifts

The U.S. based crypto exchange Kraken will start to increase its operations in the Indian market following the recent ruling of the country’s Supreme Court to lift banks’ banning to do business with crypto companies, according to a March 9th announcement. According to Kraken, its growth in India was hampered by the ban on the Reserve Bank of India (RBI). However, they did not give further details regarding the plans for this large market. Future is bright for the Indian market Sunny Ray, Head of Global Business Development at Kraken,…

Coronavirus Leave Seats Empty At London Blockchain Week

In 2007, Lebanese-American essayist, statistician and risk analyst Nassim Nicholas Taleb introduced the world to the notion of a “black swan.” A black swan is Taleb’s metaphor for large, unexpected events that wreak havoc across finance, science and technology. Thirteen years on, the world is reeling from its latest black swan in the form of coronavirus, with London Blockchain Week as the latest event in crypto to feel the effects.  With public events being canceled around the world and with many people reluctant to travel until the Covid-19 scare blows…

Bitcoin Tested as a Safe Haven After Biggest Stock Crash Since 2009

The VIX volatility index, the stock market’s main risk indicator, skyrocketed to 55 on March 9. This is the highest level since 2009. Meanwhile, Saudi Arabia’s talks with OPEC member Russia soured, triggering a price cut competition. This led Brent Crude, the international oil benchmark to trade at $36.20, down 20% from the previous session. The Dow Jones Industrial Average tanked 6.9% — heading for it’s biggest daily loss ever recorded — while the UK’s FTSE is trading down 7.7%. Asian markets overnight performance also were not so much different…

Pitch Deck Says Solana Is Courting Dish Network, Kik for Its ‘Web-Scale’ Blockchain

DISH Network, a major U.S. television services provider, and Kin, the payments platform built by Kik, are reportedly looking to tap up-and-coming Solana as the basis for their blockchain networks. According to a Solana pitch deck seen by CoinDesk, which indicates the company is looking to raise at least $2 million and potentially up to $12 million, software engineers at DISH could use Solana’s protocol as the basis for a tokenized 5G network that could be used to hire space on-chain for web-connected devices. DISH is reportedly nearing the final…

Has Gender Distribution Come to the Crypto Market?

On Dec. 4, Bitcoin (BTC) fund operator Grayscale published the results of a study that showed 43% of respondents interested in BTC investments turned out to be women. Today, half of Binance’s employees are female — and in India, women make up the majority of crypto investors. Does this mean that gender equality has come to the market? Or are cryptocurrencies and blockchain technology still a men’s business? On the eve of International Women’s Day, female representatives of the blockchain industry told Cointelegraph what attracted them to the market and…

Canada Funds Blockchain Firms Looking to Trace Steel

Canadian authorities have approved funding of two blockchain firms, Peer Ledger and Mavennet, to create a platform that enables steel traceability, reported Ledger Insights on March 9. The Innovation, Science, and Financial Development Canada (ISED), a government initiative in charge of promoting the research and development of Canadian small and medium-sized enterprises, adopted the measure, granting both companies CAD $150,000. Strengthening digital traceability on the steel supply chain Peer Ledger (Halifax-based) and Mavennet (Toronto-based) will be working on a proof-of-concept (PoC) prototype for digital traceability of the entire steel supply…

YouTube Algorithm Continues Crypto Censorship

Crypto YouTubers are under fire from an overzealous censorship algorithm. Ivan on Tech, Pro Blockchain, and BitBoy all reported another round of strikes on seemingly innocuous videos. New Round of Strikes Cryptocurrency focused channels on YouTube are under fire again as several creators report strikes on their accounts. IvanOnTech, one of the most popular crypto YouTubers, reported today that his channel received another strike for supposedly violating YouTube’s policies.  THE CRYPTO PURGE CONTINUES!!@TeamYouTube removed our video from this morning and gave us a strike AGAIN!!! Nothing harmful or dangerous in…

Libra Association Member Offers an Explanation for the Crypto Market Decline

A prime crypto broker blames margin calls on non-crypto assets for the current crypto market slide. Marc Bhargava, co-founder of Tagomi (which has recently joined the Libra Association), shared his explanation of the current market downturn with Cointelegraph. Since Tagomi is connected with ten of the biggest exchanges and some of the biggest crypto traders, it enjoys a rooftop view of the market. Here’s how the co-founder contextualizes the recent market downturn Bitcoin is a risk-on asset Bhargava believes that crypto is not a safe haven asset, despite others saying…

Belarus Wants Authorization to Seize Crypto from Criminals

Amid countries increasingly auctioning Bitcoin (BTC) seized in law enforcement actions, some jurisdictions are fighting for authorization to confiscate crypto. A state authority in Belarus wants lawmakers to authorize them to seize cryptocurrencies like Bitcoin from criminals. The Investigative Committee of the Republic of Belarus, a centralized system of state law enforcement agencies, is purportedly planning to back a legal initiative that would grant them the authority to confiscate crypto. Belarus now has legal regulation that allows the Investigative Committee to seize crypto Ivan Noskevich, head of the Investigative Committee,…