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Reports from March 11, 2020, indicate that some members of the Facebook-led Libra Association have thrown their weight behind a rival project, the Celo Alliance for Prosperity. Bloomberg reports that the new project has the support of more than 50 members. Part of the membership consists of entities that are affiliates of the Libra Association. These include Anchorage, Coinbase Venture, and Andreessen Horowitz. The Celo Project's aims at providing humanitarian aid, facilitating payments, and enabling micro-lending through the Celo Dollar.…

On the 11th of March 2020, Bitcoin tested the $7600 support area and corrected a few points against the USD. The virtual currency is at the $7800 level and stayed under the 100 hourly simple moving average (SMA). Nevertheless, the momentum to climb above the $8000 level was not enough. A daily high formed near $7988 and the price is currently making a downward correction. The $7800 support level broke to start a fresh decline. Bitcoin’s price broke the 61.8%…

On the 10th of March 2020, Liam Kovatch, the CEO of Paradigm Labs, announced the closure of the company. Paradigm Labs is a decentralized finance (DeFi) project. The company noted that the closure is because of lack of significant product-market fit and limited resources. Paradigm Labs however expressed their gratitude to their community for their support in two years of their operation. What’s Next after Paradigm Labs Closure? The DeFi  project's announcement stated that the closure will affect the broader ox…

Any area that involves cryptocurrency is usually linked to a scam. But none affected and is still affecting the market like the PlusToken scam. Let us follow up on one of the biggest events in the history of cryptocurrency. What was PlusToken? Sometimes called the “Biggest Scam in the History of Cryptocurrency,” the PlusToken Scam shook the entire crypto market. The remnants of the scam can be felt to this date. Building upon a Ponzi scheme's age-old tactics, the people…

Chainalysis, the blockchain analytic company, announced the successful deployment of its investigations solution, Chainalysis Reactor, with Bithumb Exchange.  The announcement follows the South Korean National Assembly’s vote last week in favor of amending the Special Financial Transactions Information Act. The Chainalysis Reactor is an investigation software linking crypto transactions to real-world entities. The feature allows crypto businesses and law enforcement agencies to tackle criminal activities, including fraud and money laundering on the blockchain. In this case, Bithumb will use Chainalysis…

The co-founder of Toruslabs, Zhen Yu Yong, tested positive for coronavirus after attending different Ethereum conferences. Zhen tweeted on falling ill and receiving a positive test for Covid-19. He contracted Covid-19 after attending the ETH London hackathon held from the 28th of February to the 1st of March. TorusLabs Co-founder also attended the Ethereum Community Conference (ECC), which took place in Paris from the 3rd to the 5th of March. He encouraged all those who had close contact with him…

On the 10th of March 2020, Circle, the USDC stablecoin provider, announced it is expanding its Business Account for USDC and introducing a new set of APIs. These APIs control how various software components can interact.  The APIs established by Circle will allow developers to automate USDC transactions in different ways. They will allow businesses to receive both credit and debit card payments in USDC. It will facilitate payments by enabling firms to acquire funds as soon as possible. More…

Recently, BlockFi, a crypto lender, announced the addition of a new product feature on its platform. The crypto lender will give its users the ability to send cash to the platform through the wire. As of the 10th of March, users can now send USD wires to the BlockFi platform to buy stablecoins and begin earning up to 8.6% APY on the USD-denominated assets. The wires sent will be exchanged for Gemini Dollars (GUSD) on the platform, and the deposited…

On the 9th of March 2020, the Human Rights Foundation (HRF) announced it would begin accepting charitable donations in BTC via Twitter. HRF also revealed that it would use the BTCPayServer platform, a completely open-source program, making it impossible to censor transactions. BTCPayserver is a code. In this case, it ensures the transaction’s privacy, and it preserves the qualities of bitcoin that distinguishes it from fiat currencies. UNICEF and Save the Children Charitable Organizations, Accepts Crypto In October 2019, UNICEF…