US Holding Firm Halted Mining Business After Bitcoin Crashed Below $4K

Diversified holding company DPW Holdings suspends its crypto mining business Digital Farms about 2 months before Bitcoin halving. Although the cryptocurrency markets have slightly recovered following massive sell-offs in mid-March, Bitcoin’s (BTC) faltering price has led to notable miner instability and closures. Soon after Bitcoin dropped below the $4,000 threshold on March 13, DPW Holdings, a Nasdaq-listed holding company, announced that it is temporarily shutting down its cryptocurrency mining business, Digital Farms. DPW notifies the SEC about multiple changes to its business in relation to the coronavirus According to a…

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Blockchain Jobs Continue to Rise Despite Global Recession

Despite global recession in both crypto and traditional markets, many blockchain jobs continue to rise. Trillions of dollars have been injected into the global markets in an attempt to revitalize the world economy. The U.S. alone recently hit its highest unemployment rate in history. The whole world seems to be falling apart except for blockchain Kraken, one of the largest cryptocurrency exchanges in the United States, is looking to increase its job force by 10%, despite the recent dips in crypto price, according to Forbes on March 26. Kraken’s team,…

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Ripple CEO’s Public Statements About XRP Token Under Fire in Class-Action Lawsuit

Plaintiffs in the class action lawsuit against Ripple Labs have filed another litigation complaint against Ripple CEO Brad Garlinghouse. The news follows the recent court judgment that denied Ripple Lab’s attempt to get the case dismissed. Also read: Market Update: Slew of Unknown Coins Has Seen Considerable Gains Since ‘Black Thursday’ Plaintiffs Accuse Ripple Labs CEO of Selling XRP After Telling the Public He Was ‘Long XRP’ On March 25, the plaintiffs suing Ripple Labs filed an amended complaint with the court against the company’s CEO Brad Garlinghouse. According to…

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Russian Police Take Down an Illegal Bitcoin Mining Farm

Russian police seized a bitcoin mining farm for the alleged theft of $200,000 in monthly electricity costs. Russian police have caught bitcoin miners who were stealing $200,000 worth of electricity each month in their efforts to mine cryptocurrency. According to a statement released by the Russian Interior Ministry, a Saint Petersburg suspect has been arrested, along with nine alleged accomplices. The criminals managed to install sophisticated infrastructure that connects mining equipment to the country’s electricity supply at eight different locations, the Interior Ministry stated. Seized elements during the raids In…

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Silk Road Founder Ross Ulbricht Spends Seventh Birthday in a Row in Jail

Silk Road founder Ross Ulbricht turns 36 today, spending his seventh birthday in a row in jail. Ross Ulbricht turns 36 years old today. This will be his seventh birthday in incarceration. Ulbricht is the convicted felon serving two life sentences plus 40 years for his role in creating the Silk Road, the online contraband market notorious for its associations with cryptocurrency. Ulbricht says Silk Road was initially envisioned as a libertarian paradise, but it eventually went sideways: “Silk Road was supposed to be about giving people the freedom to make…

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Telegram Seeks Clarity On The Preliminary Injunction Against TON

Telegram’s GRAM token passes the Howey test and is subject to regulation, says the SEC. How far can a preliminary injunction from an American court reach? The answer to that question is everything for Telegram’s embattled TON blockchain project. TON has been under legal fire since shortly after the SEC became aware of its token sale. The drama is ongoing as recently as this week, when a federal district court judge issued a preliminary injunction against Telegram for its ten-figure initial coin offering. The allegation is that Telegram’s GRAM token,…

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Bitcoin Ascends on Twitter While Major Altcoins Hit Multi-Year Lows

Data suggests major altcoins are finding it hard to maintain a strong presence on Twitter amid the market downturn. Major altcoins have seen their Twitter presence greatly reduced in the wake of the recent cryptocurrency market crash. According to data from Bitinfocharts, major altcoins such as Ethereum, Litecoin, and XRP now find their Twitter mentions nearing two and even three-year lows. Meanwhile, Bitcoin’s Twitter presence doubled in the first three months of 2020, though its tweet count remains a long way off of its 2017 all-time high. XRP tweets hit…

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Back From the Crypt: MakerDAO Toes the Line Between Life and Death

DeFi’s most important company, MakerDAO, narrowly avoids the hangman’s noose, carries out debt auctions to set things right. The crypto industry is young, and in emerging tech, a handful of companies often lead the charge. For those holding equity in these companies, this is generally considered something to be encouraged. For everyone else, it is not. The recent rise of decentralized finance has been no different, and the company holding the torch is MakerDAO. When market conditions are favorable, these powerful companies can be trailblazers for the industry. However, if…

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FBI Apprehends & Charges Russian Hacker, Closes Down Deer.io Platform

The FBI has shut down Deer.io, a platform used in conjunction with the sale and theft of private data. The Federal Bureau of Investigation (FBI) has charged a Russian hacker for stealing private information, and has shut down his platform — Deer.io, which moved funds via crypto assets. The FBI shut down the Deer platform on March 24, as per a statement from the U.S. Department of Justice (DoJ). The platform’s “suspected administrator – alleged Russian hacker Kirill Victorovich Firsov – was arrested and charged with crimes related to the…

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Vermont Rapper Releases Hip Hop Track ‘#Freeross,’ Ulbricht Petition Nears 300K Signatures

Southern Vermont-based hip-hop artist, Krypto Man, has released a new single called “#Freeross” in hopes to get Ross Ulbricht released from prison. Krypto Man is a well known rapper on the east coast and revenue from the song will be donated to the nonprofit Freeross.org. Ross Ulbricht has also gathered more than 279,000 signatures so far for his clemency petition hosted on the website Change.org. Also read: While You’re Under Quarantine, Check These Sites for Remote Crypto Jobs Vermont Hip Hop Artist Krypto Man Drops a New Single Called #Freeross…

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