Crypto News of the Day (4.3.)|Peter Schiff: Bitcoin has to grow now • India’s Supreme Court Says No to Central Bank’s Crypto Ban • and other news
4 min readTable of Contents
Here you can find an overview of the most important events that took place during the last day in the cryptoworld.
Markets
Crypto markets continued to consolidate again after they started growing slightly at the beginning of the week. Equity markets are also falling again, despite the intervention of the American Fed, which lowered the key interest rate for the fourth time in twelve months. Bitcoin now moves horizontally around the support of $ 8,800, altcoins also tend to stagnate. According to Peter Schiff, Bitcoin must now grow, otherwise its basic function of securing against the turbulence caused by governments and central bank policy will not prove.
If @Bitcoin can't rally with an emergency 50 basis point rate cut, plus all of the recent stock, bond, currency and gold market volatility, under what circumstances will it rally? If Bitcoin won't go up, why own it? The answer to that question is "sell." Look out below!
— Peter Schiff (@PeterSchiff) March 3, 2020
You can monitor the current cryptocurrency prices – here.
___
Cryptocurrency
___
Blockchain, Technology
___
Regulations, State digital currencies
___
Facebook suspends Libra, will develop tokens linked to CBDC
Facebook is retreating from Libra, a cryptocurrency suggested last summer. Instead, this social media giant creates several separate digital tokens, each linked to a different government digital currency, such as dollars or euros. These new tokens will be available through the Facebook digital wallet Calibra, which was originally designed to support the Libra token, and users will be able to make transactions and purchases with these tokens.
Facebook is about to introduce the wallet and digital currencies at about the same time, although the launch of the wallet has been postponed from June to October. The wallet should be available on WhatsApp and Messenger and may initially be limited to certain countries based on the local currencies it supports.
Steemit tries to regain control and Justin Sun recedes
Steem tries to regain control of his blockchain. Yesterday there was an action that basically meant a hostile takeover. Meanwhile, Justin Sun is trying to back out of the situation, claiming he saved the platform from “malicious hackers.”
His actions weren’t a “hostile takeover” at all, he claims. Sun wanted to “protect the sanctity of private property and the interest of all.” Moreover, these actions were conducted “under cover” for the safety of the network, less these hackers “sabotage” Steem. “We had no choice,” he added. Click here for details.
Kruger: CME bitcoin market collapsed
Alex Kruger, a prominent cryptocurrency economist, spoke about this phenomenon in his fresh tweet and told his followers that the collapse took place along with the global stock market collapse.
$BTC CME volumes have collapsed since the global markets panic started. pic.twitter.com/OTsB8UNvJ4
— Alex Krüger (@krugermacro) March 3, 2020
Wallmart and seven other companies join Hyperledger
The open-source blockchain Hyperledger consortium announced the addition of eight new members, including giants such as Clear, Conduent and Walmart. Hyperledger is a DLT consortium that aims to “develop interdisciplinary blockchain technologies”. The project is probably one of the most important efforts in the blockchain space, which is focused on mainstream adoption of emerging technology.
Brian Behlendorf, Executive Director, Hyperledger :
“Adding this great mix of new members and HCSPs is a great opening act for Hyperledger Global Forum. Hyperledger is powered by its diverse, global community, and this event is all about bringing Hyperledger users, developers, service providers and enthusiasts together to reflect on what we’ve accomplished so far and, more importantly, where we can go next. The packed show agenda proves just how much we all have to share and the impact this highly engaged and active Hyperledger community is having on the growth of enterprise blockchain.“
American giant Topps will issue collectible cards tied to blockchain
Topps Company, an American collector card manufacturer that has been working with a number of sports leagues and licensed brands since 1938, announced plans to issue blockchain-linked digital cards in The Garbage Pail Kids series. Topps works with the Worldwide Asset Exchange (WAX) to create its own platform for collectors to buy, sell and trade digital cards, each of which will be verifiable on a blockchain.
“Over the years, collectors of Topps trading cards have enjoyed the thrill of ripping open a pack of cards. This partnership allows us to bring that memorable collecting experience to an even wider audience,” said Topps Digital vice president and general manager Tobin Lent, in a release.
India’s Supreme Court says no to central bank’s crypto ban
After many months of uncertainty, Indian cryptocurrency investors can finally breathe a huge sigh of relief as the Indian Supreme Court has struck down the Reserve Bank of India’s banking ban for cryptocurrency entities in the country. Token prices of the exchange WazirX have shot up and investor sentiment has almost unanimously been positive.
The news has been a long time coming for Indian investors, who wanted nothing more than some certainty on the state of cryptocurrencies in India. The fact that it is very positive news will only buoy investors further in the coming months.
Breaking:
— Crypto Kanoon (@cryptokanoon) March 4, 2020
Supreme Court of India has struck off Reserve Bank of India's (RBI) banking ban against #Crypto. The Court held that RBI Circular dated 6th April 2018 is unconstitutional.
[coinlib-widget type=3 prefcoinid=1505 dark=0]
[coinlib-widget type=1 coinid=859 prefcoinid=1505 dark=0]
