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One Wallet Owns 27% of Ether Behind MakerDAO’s Sai Stablecoin

Of all the Ether (ETH) locked in the collateralized debt positions (CDPs) of the old MakerDAO system, 27% belongs to a single Ethereum address. Financial technology data firm Digital Assets Data shared these findings with Cointelegraph on Jan. 26. Dai, which was created by MakerDAO, allows users to borrow or generate the stablecoin by staking their cryptocurrency holdings as collateral. Dai was not supported with bank accounts of reserve currencies but rather is generated by putting Ether into a CDP smart contract. In November 2019, the Dai stablecoin reached its…

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Cryptocurrency News From Japan: Jan. 20–24 in Review

This week’s headlines from Japan include several central banks collaborating on digital currency research, Binance removing the Japanese yen from its platform, Japan’s Liberal Democratic Party investigating digital assets, comments from Japan’s Deputy Prime Minister on digital currency research importance, and Coincheck paying out its first Lisk staking reward.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese political party proposes digital currencies Japan’s ruling Liberal Democratic Party aims to propose a national digital asset in spring of this year, according to some…

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The Holy Grail for DApps Moving Beyond Buzzword Status

Decentralized apps (DApp) continue to be a major focus point for developers in the crypto space. However, 2019 ended with DApps still far off from reaching their much-touted potential of being the “future of the internet.” DApp projects in 2019 continued to suffer from their usual issues like poor user retention and the difficulties of navigating user interfaces (UI), among others. While some projects boast market capitalizations north of $100 million, they fail to attract more than a handful of daily users. In the early weeks of 2020, some analytics…

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Tax Agencies Step Up Efforts to Hone in on Crypto Tax Evasion

The year 2019, for a short while, raised expectations that stablecoins would bring about mass adoption of cryptocurrencies. 2020, however, seems to be dousing those hopes with ever-tightening regulation that is putting pressure on investors and companies alike. The first complication came only 10 days into the year. In early January, the European Union’s landmark Fifth Anti-Money Laundering Directive, or 5AMLD, was signed into law. The law is the latest evolution of the EU’s response to the Panama Papers scandal, in which a leak of over 11 million documents uncovered…

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Greatest Promise Is to Transform the Developing World

The biggest topic in the mobile industry over the last few years has been 5G. In an industry that has been starved for innovation in this interregnum between the launch of the iPhone and the full-scale integration of next-generation technologies like augmented reality, artificial intelligence and blockchain, the introduction of the 5G network has become a sort of catch-all for carriers and handset manufacturers to lean on as the promise of the future of innovation being just around the corner — a feature worth paying a premium for and upgrading…

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Bitcoin ‘Needs More’ PR from People Like Peter Schiff: Binance CEO

Bitcoin (BTC) skeptic and gold bug Peter Schiff is unwittingly advertising the cryptocurrency’s virtues over other investments, says the CEO of exchange Binance. In a tweet on Jan. 25, Changpeng Zhao (known as “CZ” in crypto circles) argued Schiff was failing in sewing distrust of Bitcoin among social media followers and beyond. CZ: We need more “negative voices” “I think Peter is doing great to promote bitcoin. He probably does not realize that given his illogical reasoning, most people will do exactly opposite of what he says,” he wrote. CZ…

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Bitcoin Risk-Return a ‘Different Beast’ Compared to Amazon: Analyst

Bitcoin’s (BTC) risk-return is a “different beast” compared to even the darling of the stock market of the 2000s, Amazon. That was the conclusion drawn by one of the cryptocurrency industry’s best-known analysts and the creator of a uniquely accurate Bitcoin price model. PlanB: Amazon “normal” compared to BTC Uploading a chart showing BTC risk-return versus Amazon stocks, U.S. bonds, gold and the S&P 500 on Jan. 24, PlanB showed Bitcoin behaved completely differently as an investment.  Amazon’s significant losses in the year 2000, combined with its revered recovery ever…

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SEC Goes Head-to-Head With Telegram, Makes a Guinea Pig of TON

Earlier this week, the Chamber of Digital Commerce went ahead and filed an amicus brief for the ongoing court hearing taking place between Telegram — one of the world’s most widely used encrypted messenger services — and the United States Securities and Exchange Commission. In its most basic sense, an amicus brief is a legal document that provides non-litigants with the right to submit their views and opinions in relation to an ongoing case for the court’s consideration. The brief was authored on behalf of the CDC by Lilya Tessler,…

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Is Tron’s DApp Market Dependent on Gambling?

Tron has made a name for itself in the crypto asset space and DApp world, although a huge portion of the protocol’s transactions rely on the gambling industry. A hefty 17 of the top 25 most-used Tron DApps fall in the gambling category on DappRadar’s list of most popular Tron protocol-based DApps. Top 25 lists The eight non-gambling Tron-based DApps on the list fall in several other categories, such as High-Risk, Exchanges and a general “games” tag. These non-gambling DApps, however, host significantly less volume than their gambling counterparts, with…

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Effect of CME Futures Options on BTC Price Depends on Halving

CME Group launched new Bitcoin options on Jan. 14, which was revealed by the company’s global head of equity products Tim McCourt. The introduction of crypto options by a derivatives heavyweight in CME will further uplift the institutional infrastructure supporting the asset class. Over the long term, investors generally anticipate improvements in the infrastructure surrounding Bitcoin (BTC) to have a positive impact on the cryptocurrency market. CME Bitcoin options is a net positive for crypto Speaking to Cointelegraph, cryptocurrency technical analyst Eric Thies said that CME options will bring in…

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