Decentralized storage network, Storj, has launched a program providing free storage to organizations participating in COVID-19 research. The program follows widespread contributions from the crypto community toward the distributed scientific research platform, Folding@Home. Organization researching COVID-19 qualify for 2TB in storage On April 22, Blockchain-based cloud network, Storj, announced a program offering free online storage to organizations engaged in research contributing to the global fight against the coronavirus pandemic. Storj’s storage program will provide qualifying organizations with one terabyte of free cloud storage. Qualifying entities will also receive a monthly bandwidth of one terabyte of storage on its Tardigrade decentralized …

The United States Attorney’s Office has seized a fraudulent COVID-19 domain name after its owner attempted to sell it in exchange for Bitcoin (BTC). The action follows Attorney General William Barr’s request that the department prioritize detecting and prosecuting illicit activities relating to the coronavirus pandemic. A warrant obtained by the U.S. The Department of Justice alleges that the owner of coronaprevention.org listed the domain for sale “on a hackers forum” the day after President Donald Trump declared a national emergency in response to COVID-19. The seller’s ad promoted the domain as an effective means to sell “high markup in …

All over the world, doctors, nurses and medical resources are strained as the fight against the coronavirus continues. In response, many charitable organizations and philanthropists from various industries have come forward to offer their support. In the cryptocurrency industry, companies such as BitMEX, Binance and the Stellar Foundation have been making headlines week after week for being at the forefront in an attempt to make sizable donations to COVID-19 relief funds. Here is a look at some of the biggest and most remarkable donations from crypto-related companies. Binance As early as Jan. 25, Changpeng Zhao, the CEO of a top-ranking …

Northwell Health, a New York-based healthcare group comprising over 800 hospitals, has joined IBM’s Rapid Supplier Connect network. IBM’s network is a cloud-based application that uses distributed ledger technology to assist businesses providing coronavirus relief supplies to connect with buyers. IBM will provide Rapid Supplier Connect free of charge to qualifying suppliers until August 31. NYC’s largest healthcare organization IBM Blockchain’s network New York’s largest healthcare group spanning 800 hospitals, Northwell Health, has joined IBM’s blockchain-based network of buyers and sellers of coronavirus relief provisions. In an interview with Forbes, Northwell health vice president and chief procurement officer, Phyllis McCready, …

With Lebanon’s currency hitting new record lows of 4,000 Lebanese lira (LBP) per $1, chaotic prices are being listed by Lebanese Localbitcoins traders. As of this writing, spreads between listings on both sides of the order book appear to exceed 90%, leading to reports claiming that Bitcoin (BTC) is trading for $15,000 in Lebanon. The spreads appear to be fuelled by an extreme disparity between the market value and official peg of 1,507 lira per U.S. dollar. As such, BTC appears to be trading for a more modest 5% premium at $7,850. Lebanon’s currency plummets to all-time lows Lebanon’s currency …

The World Bank has predicted that the global remittance industry will retract by 20% amid the global economic slow-down resulting from the coronavirus pandemic. With a plethora of crypto firms targeting the remittance sector, the news may comprise a poor omen for many blockchain firms seeking to gain a foothold in the cross-border payments industry. World Bank predicts record slump in remittances On April 22, the World Bank published a report predicting that 2020 will see the “sharpest decline of remittances in recent history.” Slashed wages and falling employment of migrant workers is expected to drive a 19.7% drop in …

The price of Bitcoin (BTC) suffered a tremendous crash on March 12, falling from almost $8,000 to stabilize at around $5,000, a loss of about 40% in the span of less than two days. This happened in the context of a global sell-off in all equity markets, where United States stock market indices such as the Dow Jones Industrial Average and the S&P 500 lost around 10% in a single day — a substantial loss for traditional markets. Some were quick to decree the end of the narrative that Bitcoin is a safe haven asset, sometimes called a store of …

As 2020 staggers on, the scourge of the coronavirus is showing no sign of relenting any time soon. Since the reality of the pandemic took hold, it has revealed itself to be a black swan the likes of which have never before been seen. Cryptocurrencies suffer from volatility in the best of times, and markets have spent most of the last two years in the red. But companies, markets and entire economies all over the world are tanking. So, is cryptocurrency’s notorious Achilles' heel affecting its banking and payments sector? SoftBank posts hard landing There’s not a business in the …

LocalBitcoins data shows that the weekly trading volume in Chile’s fiat currency recently touched a new all-time high. Cryptocurrency market data platform CoinDance shows that LocalBitcoins volume in Chile reached a new record of over 330 million Chilean pesos in the week ending on April 4. Chile LocalBitcoins volume in Chilean Pesos. Source: CoinDance It is worth noting that these figures are also influenced by the depreciation of the Chilean peso. According to data from foreign exchange website XE, the currency fell by over 6.45% against the dollar in the last two months alone — and has lost a whopping …

Bitcoin (BTC) can rally to $1 million but coronavirus means that the baby boomer generation is “fucked,” a damning new macro report concludes. Originally published to clients on March 30, the report from Global Macro Investor dubbed “The Unfolding” paints a dismal future for the financial market. Pal: Boomers “will sell every rally they can” According to CEO Raoul Pal, who authored the report, coronavirus has fuelled the fire of systemic weakness across global markets. “The damage this does to the US pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly …

The current pandemic is far from over and the economic, political, and social ramifications of this crisis remain unclear. Indeed, the nature of the workplace people return to might well be radically different to what previously existed. During an online panel session, hosted by Cointelegraph’s Stephen Chase, fintech pioneers debated how the Coronavirus could act as a catalyst for change in people’s attitudes towards working, technology, and online payments. Given the 24/7 nature of cryptocurrencies, all the panelists had remote working policies in place prior to the COVID-19 outbreak, so the immediate disruption was minimal. When asked which sectors were …

Alex Mashinsky, chief executive officer (CEO) of cryptocurrency lending platform Celsius Network, thinks Bitcoin (BTC) hasn’t become enough of a non-correlated asset for investors to turn to it in the current financial crisis. In an April 22 interview on the David Pakman Show, Mashinsky said the cryptocurrency didn’t see a significant surge at the start of the pandemic because “if you take any snippet over the last year, you would see very high correlation [between BTC and] the stock market.” This correlation combined with the current crisis may be enough to deter many investors from Bitcoin. While Cointelegraph has reported …