1. Bitcoin Miner Stumbles Upon $8M Stash From 2010, Sells Before Cras
It was a lucky day for a yet to be identified Bitcoin miner, who “stumbled” on some bitcoin units that he mined from 2010. The miner, whose username on bitcointalk is ‘whoamisoon,’ had asked bitcointalk forum on March 10, 2020, how he could convert 1000 units of bitcoin to cash.
Later that same day, 1000Btc was moved from an address, which was believed to be from the same miner.
In addition to discovering his forgotten bitcoin, he also became beneficiary to several units of bitcoin forks that had happened from 2010 to date.
Evaluation: Good
Source: Cointelegraph
2. Fraudsters Swindle $2M From Coronavirus Preppers
In the wake of the global Coronavirus pandemic, some individuals have taken undue advantage of people’s apprehension to organize online scams, claiming to sell essential preventive and control materials like facemasks, hand sanitizers, and medications, but never get to deliver these materials to the buyers.
Most of these scammers request for cryptocurrency as their preferred transaction currency, and they have stolen close to $2 million worth of crypto from unsuspecting members of the public.
Evaluation: Bad
Source: CoinDesk
3. US Federal Reserve reduces the interest rate to 0%, launches a $700 billion quantitative easing program
The US Fed has taken steps to offer palliative measures to ease the effect of the Coronavirus pandemic in the economy by reducing interest rates to 0% and launching a $700 billion quantitative easing program. The government hopes that by reducing the Fed rate, which is used as a reference for both consumer and business lending, liquidity will be improved in the system.
Although the market did not respond as expected on Monday 16th March, there are indications that this directive may have influenced the gradual recovery of the stock and cryptocurrency market.
Evaluation: Good
Source: cnbc.com
4. Bitmex Refunds Traders after Lastest DDOS Attacks
Last week, BitMEX crypto exchange went offline at about the same time that the crash in the market price of bitcoin. The company later announced on their blog that they had experienced a DDOS attack where some of their users accounts were compromised.
Bitmex is now back online, and they have compensated 156 accounts with a total of 40.3Btc. These are the accounts that were identified as the affected accounts, according to the Bitmex team.
Evaluation: Neutral
Source: Bitcoinist
5. Dollars backed Stablecoins Remain steadfast Amidst Market Volatility
The global financial market has experienced unprecedented descent in prices in the past week, as a result of the coronavirus pandemic. Stocks, Oil, and even gold that is seen as the haven of all asset classes took a hit from the pressure by investors to convert their assets into more liquid forms.
However, it appears that dollar-backed stable coins like USDT have been immune to this market uproar, as they have lived up to their names, and retained stability, even in the wind of major uncertainties. Market research data culled from Coindesk indicates that Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and TrueUSD (TUSD) have all retained their market capitalization.
Evaluation: Good
Source: Coindesk
