“The New York Fed said Thursday it would initiate the injections as soon as Thursday afternoon, beginning with $500 billion of three-month repo loans. On Friday, the bank will offer additional repo operations with $500 billion of three-month loans and $500 billion of one-month loans.
Three-month and one-month repo operations for $500 billion will be offered on a weekly basis for the remainder of the monthly schedule. The Desk will continue to offer at least $175 billion in daily overnight repo operations and at least $45 billion in two-week term repo operations twice per week over this period.”
See Also: Bazooka Fired: Fed Unleashes $1.5 Trillion Repo Bailout, Expands “Not QE” To QE5
See Also: Bazooka Backfires: Stocks Tumble, FRA/OIS Soars After Fed’s Massive Repo Operation Fails To Fix Liquidity Crisis
“Prices for the largest cryptocurrency by market value plunged 26 percent to $5,863 as of 13:54 UTC (9:54 a.m. Eastern time). The move wiped out bitcoin’s gains for the year, dropping prices to the lowest level since May 2019.
Bitcoin’s price decline led to the liquidation of more than $700 million of futures contracts and other leveraged positions on BitMEX.
You’re getting to a point where markets are pretty frantic across the board, and today is a move toward cash. Bitcoin and crypto in general still very much sit further out the risk curve in investors’ minds.”
“In response to “Black Thursday” losses, developers and MakerDAO Foundation members weighed the damage that the drop in Ether’s price had done to MakerDAO’s lending protocol.
As the market for ETH drops, MakerDAO’s protocol automatically sells. The recent market saw losses too dramatic for the protocol’s auctions to keep up with.
The shutdown is currently a remote prospect, but may become the most rational decision if ETH falls to $80 or so: ‘If Ether price drops another 30, 40%, then we might be looking at that.'”
See Also: ‘Black Thursday’ Response Thread
“France’s Financial Markets Authority (AMF) has proposed that all of Europe adopt a regulatory “sandbox” to support the emerging security token industry.
The “Digital Lab” would run for three years, exempting projects from financial regulations.”
“The “biohacking” effort by a group known as CoroHope is crowdsourcing bitcoin (BTC) donations to fund its work. The group claims it has a biologist on board with 10 years’ experience building similar vaccines for the FDA.
The group sees the FDA as a potential hindrance to finding a vaccine for the rapidly spreading coronavirus because the agency has a stringent approval process that, to the biohackers’ minds, doesn’t necessarily benefit the public.
Frankly we’re not interested in waiting for regulations to try to do good work.
With initial funding, CoroHope’s first goal is to develop the plasmid DNA vaccine ‘to design and synthesize the plasmid, perform preliminary testing and send it out to interested labs.‘”
“Blockchain Game Partners, for which Schiermeyer is the founder and CEO, has announced that it is developing a blockchain-based gaming platform dubbed the Gala Network.
The platform seeks to cater to the innovation of developers, and will afford players full ownership over blockchain-based in-game items represented as non-fungible tokens. The items will be usable across multiple games built on the Gala Network.
Just like networked games and social games, I believe that blockchain games are the next evolution in gaming.“
“Dubbed the “Celo Alliance for Prosperity,” the project was unveiled on March 11, with key Libra backers Coinbase Ventures, Andreessen Horowitz, Anchorage Mercy Corps and Bison Trails Co. joining the ranks of its 50 founding members.
Enabling users to interface with the network using a smartphone, the project envisions offering faster and more affordable remittances, providing payments and micro-lending services, and reducing operational complexities in humanitarian aid delivery.“
“The number of Bitcoin addresses holding one or more bitcoins has been steadily growing and reached a new all-time high (ATH) of 795,630. Glassnode also reported that the number of non-zero Bitcoin addresses also reached an ATH of more than 29 million.
These numbers purportedly show the increasing interest in Bitcoin by retail investors.”