Weekly News [16.3.-22.3.] | The most interesting news from the world of cryptocurrencies!

by cryptheory

March 24, 2020

in Weekly News

Reading Time: 8 mins read

Table of Contents

Weekly News [16.3.-22.3.] | The most interesting news from the world of cryptocurrencies!

We have prepared a brief overview of the most important news for this week.

You can monitor the current cryptocurrency prices – here.

News 16.03. – 22.03.20

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Cryptocurrency

Cryptocurrency exchanges, Banks

Blockchain, Technology

Hacking, Scams

Hackers use coronavirus spread maps to infect your computer with malware

Hackers use coronavirus spread maps to infect your computer with malware

Hackers have been using the fear of the coronavirus to spread an infection of their own in the form of malware that has been discovered within coronavirus tracking maps. This marks yet another way that bad actors have taken advantage of the fears of the current virus outbreak, which is already disrupting businesses around the world on its own.

As usual, cybercriminals are using any confusion, fear, resulting in chaos to capitalize on people’s fears. This is not even the first time something like this was done — back in January of this year, hackers launched a coronavirus-based email campaign to infect people with malware. Now, they have expanded their reach and are using online maps for the same purpose. More details.

Brave claims that Google violates the GDPR

Crypto friendly browser Brave today filed a formal complaint against its competitor, Google, the latest in a several years-long campaign to topple the tech giant’s hegemony. Brave, which has offices in San Francisco and London, claims that Google has infringed upon Europe’s foremost data protection law, the GDPR. According to Brave Chief Policy Officer Dr. Johnny Ryan, enforcement of the complaint “would be tantamount to a functional separation of Google’s business.”

Where Google’s advertising technology collects excessive information about its users, Brave’s browser—a fork of the Google Chromium project—doesn’t track cookies by default. Brave claims its technology serves ads without breaching personal information. In addition, Brave’s users can earn crypto for watching advertisements, in the form of Basic Attention Tokens (BAT). More details.

Binance and Huobi will support Steem’s hardfork on Hive.io

Two major crypto exchanges – Binance and Huobi – have said that they will support Steem blockchain’s hard fork into the new Hive network. The steem token appears to have reacted positively to the news, and is currently up by 180% at around $0.35, according to CoinGecko.

Binance said it will support the hard fork, which is scheduled to take place tomorrow, and will distribute the new hive tokens to steem holders in 1:1 ratio. As a result, the exchange is suspending steem deposits and withdrawals from tomorrow and will reopen after the hard fork is complete. Huobi has also announced similar measures. The Steem community has planned the hard fork to remove Justin Sun’s Steemit Inc. from the group. Sun’s Tron Foundation acquired Steemit last month. The move, however, has led to controversies since then. More details.

Coinbase and other exchanges show the highest volumes of weekly BTC trading ever

Although Bitcoin’s value has halved in about a week, trading activity on Coinbase and other exchanges has spiked significantly. This past week has been especially noteworthy: according to metrics from Bitcoinity, Coinbase has seen a rapid increase in trading activity. Coinbase’s highest daily spike happened on March 13, which was the day after the massive drop on Thursday. Stocks rallied on Friday (March 13), and Coinbase saw 155,000 BTC traded on its platforms. The rise was drastic, as you can see in the chart.

It remains to be seen whether this spike in trading volume will last amid the deepening economic crisis. As of now, we are in bearish territory for stocks and a recession seems right around the corner. Unlike before, this will be a recession caused by depressed demand, which is largely uncharted territory. More details.

Italian Red Cross now accepts donations in Bitcoin

In a bid to accentuate the relief process for COVID-19 pandemic, the Italian Red Cross society is ramping up its modes of accepting payment, with the latest development being it introducing support for the premier cryptocurrency – Bitcoin.

This was made possible courtesy of blockchain startup Helperbit. For the uninitiated, Helperbit offers a platform to raise money for charitable causes including the COVID-19 mayhem that has taken a firm grip over the planet. Per sources close to the matter, every donation received from the new initiative will be used to set up a second-level advanced medical post. Reportedly, these posts will be used for pre-triage of COVID-19 cases in Italy. More details.

Binance CEO: I won’t let Bitcoin fall to zero

Last week, on March 12, the major cryptocurrency Bitcoin suddenly plummeted along with traditional financial markets and the fool-proof safe-haven – gold. Since then, the Bitcoin price has already made a brief visit below $5,000. Many crypto influencers have been sharing their take and predictions. However, no one has yet promised to take any particular action to help keep Bitcoin afloat. The chief executive of Binance, CZ, is the first.