Bitcoin mentioned in the speech of the Governor of California
California Governor Gavin Newsom cautioned the public against those asking for advance payments in Bitcoin with the promise of delivering essential goods. During his official address, Governor Newsom assured residents that essential items would continue to be available in the state. he cautioned the public against sending money or Bitcoin to anonymous individuals on the internet in light of shortages due to the COVID-19 outbreak.
Governor Gavin Newsom just mentioned bitcoin during his COVID-19 announcement. pic.twitter.com/Z6TsnfT6XY— Vis (@Vis_in_numeris) March 25, 2020
BCH miners end mining!
After an epic sale on the cryptocurrency market, much of the BCH cryptocurrency miners decided to leave the network and stop mining. Network demands have dropped by almost 30% in recent days. A similar decline, albeit not so extreme, has been reported by the BTC network.
Also, several large companies and regular users have shut down their equipment after a large price drop. The decrease in hashrate and thus network performance gives chances to those who have continued to benefit from the network. Because they are able to extract a little more BTC in the same time. More details.
Telegram project is in great troubles
Up to 10 large investors have decided to return the money they invested in the ICO Cryptocurrency. Probably out of fear that the SEC would completely stop this project. If it really did, it would be a big problem. The news comes after an injunction earlier this week by a federal judge in New York. The judge ruled that the distribution of gram tokens would violate U.S. securities laws. This Court ruled:
Considering the economic realities under the Howey test, the Court finds that, in the context of that scheme, the resale of Grams into the secondary public market would be an integral part of the sale of securities without a required registration statement.
We will have to wait for the final verdict on whether the Cryptocurrency Gram and its sale will be totally banned, or will eventually allow distribution after the SEC has met. If the SEC decided that ICO was illegal, it could be the end of the project. Because they will not have a sufficient source of income for development. More details.
In the USA are cryptocurrencies the most popular in California
Crypto taxation tool CoinTracker has released a report comparing the prevalence of cryptocurrency ownership across major cities in the United States. The report is based on user data that CoinTracker has been collecting since 2013. CoinTracker found that the top four ranked cities by average crypto portfolio size are all in California’s San Francisco Bay Area, with San Francisco proper at approximately $55,000 followed by Palo Alto with $39,000, Oakland with $35,000 and San Mateo with $30,600.
Only four cities outside of California are home to investors whose average crypto holdings exceed $20,000 in the U.S. — with Seattle, New York, Tampa, and Pittsburgh investors holding between $27,000 and $21,000 on average. More details.