Crypto News: What happened in February 2020?
It has only been 2 months into 2020 and what a wild ride it has already been. Welcome back and buckle up, we’re in for a roller coaster.
The first half of the month felt promising. Cryptocurrencies prices were climbing across the board. The trend didn’t last long, as the second half of the month saw prices fall once again.
There are a lot of interesting topics, so let’s get started!
SEC Files Charges against Ohio Businessman
It has been a few years since the crypto peak in early 2018, but the SEC isn’t backing down from new fights. The latest charges were filed against Michael Ackerman. He is an Ohio businessman who defrauded about 150 investors by raising $33 million for a fake trading algorithm that he claimed produced incredible returns.
UW Receives $500,000 in Ada
The University of Wyoming received a gift of $500,000 in Ada from IOHK.
Steven Seagal Settles with SEC
After being promised $1,000,000 in cash and cryptocurrency, Steven Seagal promoted Bitcoiin2Gen in 2018. Due to the failure to disclose his involvement, the SEC filed charges against Steven. He has now settled these charges with the SEC by paying more than $330,000.
China Digital Currency Delays
COVID-19 is starting to show a heavy impact on the global markets. Although there have been less than 100 confirmed cases in the US, China has placed portions of the country in complete lock-down. This has caused project delays, including the launch of China’s national digital currency.
Ripple Partners with Azimo
Ripple has continued to push forward with demonstrating the utility of XRP by partnering with Azimo. Azimo is a service that provides global money transfers.
JPMorgan Rumors
JPMorgan was rumored to be merging its crypto division with ConsenSys. Although this has not been confirmed, it could prove to be a valuable move for JP Morgan in an effort to get into the cryptocurrency market.
Jerome Powell Doubles Down
Jerome Powell, the chairman of the Federal Reserve shares the progress they are making on developing a digital currency. Although this was not the first time he shared his interest in cryptocurrency, it highlights the importance they are placing on crypto innovations.
Bitcoin Becomes a Safe Haven
During the crisis with COVID-19, some Bitcoin advocates have been speculating that Bitcoin will become a safe haven for investors. Over the next few months, the market will witness if these predictions come to fruition.
BitMEX Traders Get Liquidated
BitMEX traders experienced the highest liquidation event in recent history. In total, $157 million was liquidated on BitMEX when the price of BTC dropped by $1,000 in under 60 minutes.
Crypto Looks Bullish
The beginning of the month was met with a bullish sentiment. However, the second half of the month turned bearish as uncertainty with the global COVID-19 condition mounted.
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