TOP 9 crypto world news for September 29, 2020

Endy Callahan

Combating Fake Vaccines in India

One of the Indian states is fully prepared to combat fake COVID-19 vaccines. This will be done with blockchain technology – that’s the fastest way to protect the nation and control the black market selling medicine. According to the latest news, four companies are now developing a vaccine and all of them are based in Hyderabad. Technologists have already developed some certain projects and solutions that can be effectively employed for these purposes.

BTC Has Great Chances of Reaching 100K USD

There are plenty of Bitcoin believers who claim that six-digits are inevitable. According to crypto enthusiasts, the top-ranked cryptocurrency has a great chance of achieving one hundred thousand USD. Participants predict that the price is likely to surpass its high of 2017. However, currently, the crypto is almost forty-six percent lower, but users state that soon the price will surpass its previous highest range, touching two hundred and fifty thousand USD.

Bulgarian Exchange Relied on a Fraud Scheme

News agencies report that in Bulgaria, the owner of a crypto exchange was convicted over an auction fraud scheme. As investigators say, the man provided money laundering services to a cyber fraud syndicate located in Eastern Europe. That was a multi-million dollar illegal business practicing various illegal activities related to money laundering. It was involved in a transnational auction fraud scheme. A federal jury found the owner guilty.

OpenBazaar Saved by an Anonymous Donor

As the press informs, OpenBazaar managed to receive a lifeline that many consider temporary. However, they are not out of the woods yet and there are several major problems to be resolved. The platform has been experiencing serious financial difficulties in the past few months. Moreover, adoption and user growth have stalled. Numerous articles and posts announce that an anonymous donor has covered the cost of operations through the end of 2020.

Finney’s Proposal Finds Its Way to BT

One of Finney’s contributions has long been considered lost while many crypto market analysts state that one of his proposals is likely to find its way to the top-ranked cryptocurrency thanks to an expired patent. More than ten years ago Finney informed that he knew what needs to be done to speed up signature verification by twenty-five percent. He also said that he had written a ‘test code’ and the material was uploaded without realizing his method had a patent.

Playing the Long Game in Crypto Might Pay Off

Professionals admit that it will pay off for many participants to keep on playing the long game in crypto. They are also ready to prove their viewpoint. A report has revealed evidence that proves that companies hanging on the long haul will definitely turn profits. The report was carried out by a prominent group that surveyed over five hundred crypto enterprises across the globe. According to experts, the older the firm, the more profitable it is. 

MakerDAO Lawsuit Sent to Arbitration

The ‘Black Thursday’ lawsuit of thirty million USD has already been sent to arbitration. That was a class-action lawsuit that accused MakerDAO of providing misleading information related to the risks of DAI stablecoin. A court has agreed that the lawsuit should enter into arbitration proceedings. Furthermore, the court rejected the counter-arguments presented by Johson where he describes the innovation as an abandoned and rather outdated product. 

The DeFi Craze Is Still Going On

The DeFi exchange volume keeps on soaring and this proves that the decentralized finance craze is not yet over. Data suggests that the volume has skyrocketed in the past six months. Moreover, Uniswap seems to be leading the pack. This exchange reports it has seen incredible growth during the second quarter. Its trading volume surpassed as the platform processed four hundred and twenty-six million USD worth of trades in a twenty-four hour span.

Recovering Millions from the KuCoin Hack

In the past few days, the crypto community has been discussing the issues related to the KuCoin hack. At the same time, numerous ERC20 projects has paused and frozen. Some of them managed to reverse their smart contracts after the attack. Data states that at least one hundred and twenty-nine million tokens were affected, and yet they are now safe from the cyber criminal’s clutches. Furthermore, experts inform that the breach will be larger than estimated.