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Over 5 Million Merchants Throughout Thailand Now Accept Zcoin Payments

Privacy-focused cryptocurrency Zcoin is now available for spending in Thailand at any merchant registered with the Thai QR code system through Satang App. According to an announcement published by Zcoin on Aug. 15, over 50 million users of Satang App can now use Zcoin at local merchants both in-store and online by scanning a QR code. The system instantly settles transactions and allows merchants to be paid in Thai Bhat via regulated exchange Satang Pro. Although the development is an important step in the mainstream adoption of digital currencies, Zcoin…

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Bakkt Announces Sept. 23 Launch of Futures and Custody Platform in US

Bakkt has announced the coming launch of its much-anticipated platform for daily and monthly futures in the United States in a blog post on Aug. 16. Having received approval from the necessary regulators, the launch is scheduled for Sept. 23.   Bakkt’s physically delivered futures have been the subject of a great deal of anticipation, with the company initially announcing its launch August 2018 before being subject to repeated delays over compliance issues. Satisfying the Commodity Futures Trading Commission (CFTC) has proven particularly challenging. The company began testing in earnest on…

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Nvidia Pulls Through Crypto Winter — Quarterly Earnings Rise 16%

Major global chipmaker Nvidia, popular with cryptocurrency miners, has outstripped analysts’ expectations with its latest set of quarterly financials. The firm’s Second Quarter Fiscal 2020, published on Aug. 16, revealed $2.58 billion in revenue at earnings of $1.24 per share — as compared with $2.2 billion in the preceding quarter. Still 17% down from crypto-driven highs While the latest results reveal a solid 16% increase over the previous quarter, year-on-year revenue remains down by 17%. Nvidia had earned $3.12 billion during the same period for the fiscal year 2019 amid…

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Institutions Depositing $200-400M Into Crypto Per Week

Bitcoin (BTC) adoption by institutions has gone from a myth to fact in the past year, the CEO of major cryptocurrency exchange Coinbase has said.  ‘We know the answer’ about adoption: Armstrong Speaking on Twitter Aug. 16, Brian Armstrong said that 2019 had formed the year of reckoning for institutional Bitcoin uptake, with the trend now obvious. He wrote:  “Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it’s safe to say we now know the answer. We’re seeing $200-400M…

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Major Staffing Company Kelly Services Turns to Blockchain With New Partnership

Global staffing company Kelly Services announced a strategic partnership with online blockchain-based hiring platform Moonlighting. As Forbes reported on Aug. 14, Kelly Services will deploy Moonlighting’s blockchain-enabled hiring platform in a bid to streamline internal processes such as secure uploading of job seekers’ profiles and their distribution among various platforms. Moonlighting is based on EOSIO’s public blockchain and reportedly does not involve the use of a cryptocurrency. Moonlighting CEO and founder Jeff Tennery told Forbes that the biggest problem with the gig economy is its fragmentation, wherein people have to…

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Bitcoin Is a “Chaos Hedge, or Schmuck Insurance”

Morgan Creek Capital CEO Mark Yusko called Bitcoin (BTC) a “chaos hedge, or schmuck insurance,” in an interview with CNBC Fast Money on Aug. 14. Yusko made the comment while explaining the folly in paying too much heed to the daily price movements of BTC. Should we park the narrative of Bitcoin price’s correlation with global turmoil? The interviewer noted that people had been making a big thing of BTC’s recent bull run and apparent correlation with global turmoil. As the turmoil appeared to have gotten worse, and Bitcoin had…

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LTC Dusting Attack on Binance Affected Nearly 300,000 Addresses: Report

The recent dusting attack against fourth-biggest altcoin Litecoin (LTC) on major cryptocurrency exchange Binance affected 294,582 addresses rather than the 50 Binance reported, according to a recent metrics report. Blockchain data and metrics firm Glassnode revealed its latest findings in a tweet on Aug. 15, saying that the LTC dusting attack affected 294,582 addresses. The analysis ostensibly also indicated a similar scale attack in April. Source: glassnode As previously reported by Cointelegraph, the LTC dusting attack on Binance occurred on Aug. 9. In the dedicated tweet, Binance linked to a…

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Leading Latin America Investment Bank Joins Distributed Ledger Group

Leading Latin America investment bank BTG Pactual joined the organizing committee of the Post-Trade Distributed Ledger (PTDL) Group. Alliance for blockchain use Industry news outlet LedgerInsights reported on Aug. 15 that Brazil-based bank BTG Pactual joined PTDL Group’s organizing committee. PTDL Group reportedly provides a platform allowing market participants to share information on blockchain and discuss applications in the financial services sector. According to its official website, PTDL Group includes nearly 40 financial institutions and prominent market infrastructure players. The organization also claims that it is playing a role in…

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‘Time for Plan ₿,’ Says VanEck Exec as Negative Yield Bonds Hit 27%

According to Deutsche Bank, 27% of global bonds traded are now negative yield, so expected to pay out less than their initial cost.  Negative yield bonds dwarf Bitcoin market cap This represents $15 trillion worth of debt. Or as VanEck digital asset director, Gabor Gurbacs, commented Aug. 14, this is 75 times the total Bitcoin market cap. “It’s time for Plan ₿!” he adds. Whilst currently this phenomenon is limited to certain European countries and Japan, all eyes are on the U.S. Federal Reserve to see if it follows the…

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Bitcoin Drops to $10,000 in Recent Downtrend

Despite exceeding $12,000 several times this month, Bitcoin (BTC) has slumped back to $10,000 in a recent downtrend. The number one cryptocurrency last traded below $10,000 on July 31. A little earlier this month, experts were optimistic about Bitcoin continuing its rally, citing geopolitical tensions — particularly the ongoing United States-China trade war — as a reason for its possibly continuing success. Galaxy Digital CEO Mike Novogratz commented on Aug. 5 about this possibility, saying: “With the yuan over 7.0, an FX war, instability in HKG and the beginnings of…

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