Italian Bank Opens Bitcoin Trading to 1.2 Million During Lockdown

Growing crypto adoption and the COVID-19 outbreak has encouraged Italy’s Banco Sella to launch a Bitcoin trading service The trading is conducted via the bank’s Hype platform, with the bank acting as an intermediary to mitigate against potential security risks with cryptocurrency exchanges. With the country in lockdown and everyone stuck at home, the bank is capitalizing on a growing interest in Bitcoin as a safe way to transfer money internationally in the midst of the crisis. 1.2 million Italians already use Hype About 1.2 million Italians already use Banca Stella’s…

Goldman Sachs Walks Back From Viral, Apocalyptic ‘Investee Call’

An apocalyptic account of Goldman Sachs ‘investee call’ went viral on social media faster than the coronavirus — and now the investment bank wants to set the record straight. The story snowballed after first being reported in a Reddit post on March 15. It has since been shared countless times in Telegram and other social media.  User ‘nottodaymonk’ posted that his friend had just “got off a Goldman Sachs Investee call where 1500 of their investee companies dialed in”. He listed several “takeaways” from the call, the most significant of…

Huobi University Principal Says Without 2020 Financial Crisis, There Is No Blockchain Boom

The coronavirus pandemic is the “black swan of 2020”, leading financial markets into a level of decline not seen since the 2008 recession. However, blockchain may still have a chance to flourish during these times of crisis. Financial crisis presents an opportunity for blockchain developers On March 19, Yu Jianing, Huobi University Principal gave a live broadcast titled “Global Financial Storm Siren, How to Use the New Thinking of Blockchain to Turn Crisis into Opportunity,” according to Chinese blockchain media outlets. He commented that:  “Without the financial crisis of 2008, there…

Argentine Gas Regulator Launches Blockchain Network, Expands to Whole Country

Argentina’s natural gas regulator, Enargas, approved the expansion of a blockchain-based gas distribution tracking platform. The system was already piloted by a local distributor servicing over 2 million residents. According to an announcement on March 18, the system — dubbed Gasnet — was authorized for expansion to the whole country. Before now, the network was used only by Gasnor, a 2 million customer-strong local gas distributor. A spokesperson from RSK, the blockchain platform used by the system, told Cointelegraph that the regulator pushed for this service expansion due to the…

Kentucky Distiller Tokenizes Up To $20M of Bourbon Whiskey

United States-based Wave Financial Group will manage the tokenization of up to $20 million worth of bourbon whiskey produced by Kentucky-based Wilderness Trail Distillery. Wave told Cointelegraph in an email sent on March 18 that the firm will tokenize between 10,000 and 20,000 barrels of liquor so it can be offered through a specialized digital asset fund. The “Wave Kentucky Whiskey 2020 Digital Fund” will allow investors to purchase tokens linked to the inventory of whiskey barreled this year, which is estimated to represent up to four million bottles of…

A Developing List of Finance Practices Halted due to Pandemic

By this point, everyone knows that Coronavirus, also known as COVID-19, has wreaked havoc on the world economy.  The ongoing pandemic On March 13, crypto markets saw an unprecedented collapse alongside the worst day in the traditional markets since 1987. Beyond the markets tanking, the risk of spreading the highly contagious virus has led many countries to tell citizens to stay home — with obvious implications for broader workforce productivity and resulting in the cancellation of many events in the crypto space.  Beyond telling businesses to stay closed and people…

If Cryptocurrencies Were Beer… | Cointelegraph

Whether crypto markets are up or down, people will still buy beer. The American beer industry has seen a 600% increase in the number of breweries between 2008 and 2016, according to data from The Atlantic. And the crypto industry really boomed from nothing in 2008 with the release of pseudonymous author Satoshi Nakamoto’s Bitcoin white paper. By 2017, thousands of new digital assets built on top of that work had found their way onto exchanges. Nowadays cryptocurrency lives somewhere in the public consciousness between a Bloomberg headline and a…

Crypto Exchanges Choose to Govern User Deposits Differently

Crypto exchanges have become the most powerful stakeholders in the crypto ecosystem. Currently, just 12 crypto exchanges hold around 2.5 million Bitcoin (BTC) in their wallets, worth around $15 billion. That’s 13.8% of all Bitcoin mined to date — or, 16%–17% of all Bitcoin in circulation, considering lost Bitcoin (as of March 19). Exchanges are also some of the largest holders of altcoins, which recently led to a controversy when some of the biggest crypto exchanges used large stockpiles of Steem tokens to take over Steemit. Just like Steem, Tron’s…

The Best and Worse that Could Happen to Ethereum, XRP, and Litecoin

While it is unclear where the markets will ultimately go, it is ideal to gather perspective on the best and worst-case scenarios for the top three altcoins by market cap—Ethereum, XRP, and Litecoin—to protect against uncertainty.  The meltdown seen across most financial markets, including the cryptocurrency industry, sent investors into a state of panic. But what about altcoins? The Worst-Case Scenario Over the past week, the Crypto Fear and Greed Index (CFGI) has been indicating extreme levels of fear in the cryptocurrency market.  This fundamental indicator analyzes emotion and sentiment…

Universal Protocol Alliance Adds Three Tokens on Bittrex Global

The Universal Protocol Alliance (UPA) officially announced that the Universal Dollar (UPUSD), the Universal Euro (UPEUR), and the Universal Protocol Token (UPT) have been listed on Bittrex Global, offering a lower fee structure for UPT holders. The Alliance stated that the UPUSD and the UPEUR stablecoins are collateralized 1:1 with their respective fiat currencies, while UPT is going to offer benefits directly to Alliance members.  According to the announcement, these tokens will allow users to access an alternative to existing stablecoin products, many of which are also supported by the…