Steemit Staff reduced by 70% due to Market Crash
Steemit dismisses 70% as of its staff. Ned Scott, co-founder and CEO of Steemit, cites the bear market as one of several reasons for this harsh step. The recent crash in the crypto market has hit Steemit hard as its native token STEEM has plummeted heavily in its value. But Scott also mentioned that the costs to maintain nodes on the STEEM blockchain rose.
VaultChain Silver From Tradewind Makes Its Debut In Precious Metals Custody Industry
VaultChain Silver has been unveiled by the Tradewind technology company. The introduction of silver to VaultChain marks yet another milestone in proffering a next-generation platform for various clients dealing with precious metals. This comes following a successful launch of VaultChain Gold earlier as Tradewind follows with its roadmap of adding refining locations, different storage, and various metals in its platform.
USA sanctions Bitcoin Adresses for the First Time
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two criminals that helped to conduct ransomware attacks. It is sure that both perpetrators helped ransomware attackers to exchange their money from the retrieved currency via Bitcoin into Iranian Rial. Further collaboration or involvement remains unclear. One of the victims of the ransomware attack was an Iranian hospital. The OFAC published two Bitcoin addresses belonging to the cyber crime collaborators. In addition to that, the OFAC announced that entities that deal with either of the addresses might be hit with secondary sanctions.
Bitcoin’s Next Rally or Finding a Solid Bottom First?
Bitcoin Recovers with Strength and relative high volume well above $4000. Many analysts claim now that the next rally is about to happen. In our analysis we argue that a small rally could be possible but it will likely won’t reach as high as many people hope. Furthermore, we argue that it is more likely that Bitcoin will break down either before or after the rally. In our analysis we have found strong data that suggests that the bottom will be at $3200.
Huobi Exchange Launches a Derivatives Market
Huobi exchange has launched a derivatives market that will help it capitalize on the growing cryptocurrency industry. This Singapore based cryptocurrency exchange platform has been bust developing the infrastructure required to support Huobi Derivative Market.