Crypto News Roundup for March 4, 2020

The top stories from March 4 (Wed) include:

#1 Bitcoin’s Growth Likely to be Spurred by 2020 Economic Stimulus Efforts

The cryptocurrency market already started the week on a positive note against the backdrop of a stock market rebound and various stimulus measures adopted by central banks to stop the economy from collapsing. With the Bitcoin narrative consistently growing, odds are high the asset class could emerge a big winner once the panic over the coronavirus outbreak subsides. Read the Full Article

#2 Buy Bitcoin and Be Prepared to Lose Your Shirt, Says Incoming Bank of England Governor

Andrew Bailey is back with his anti-crypto rhetorics. In a recent Treasury Select Committee hearing, the incoming Bank of England Governor stated that investors who plan on buying Bitcoin may well be prepared to lose all their money. Read the Full Article

#3 BitMEX Users in the UK are Worried Over a Possible FCA Crackdown

The United Kingdom’s Financial Conduct Authority (FCA) has said that BitMEX may be operating there without a valid license. The exchange was, however, not the only digital assets trading venue to have found itself in the crosshairs of the regulatory body. Read the Full Article

#4 Kraken Receives a Warning From Top UK Regulator

Saying that Kraken was unauthorized to operate in the country, the Financial Conduct Authority (FCA) of the United Kingdom, likened the exchange to “scammers” in a new announcement. The announcement, however, fails to specify why Kraken users could be ‘at risk.’ Nonetheless, Kraken users in the UK are now fearing for a looming FCA crackdown. Read the Full Article

#5 A Massive Win for Crypto in India

Following months of uncertainty, Indian cryptocurrency investors can finally breathe a huge sigh of relief as the country’s top court has struck down the Reserve Bank of India’s banking ban for cryptocurrency entities. Following the judgment, several homegrown crypto exchanges in the country are reportedly preparing to offer direct bank transfers. Read the Full Article

#6 Binance is Down and People Are Freaking Out

Binance users suffered yet another massive setback on Wednesday after most of the exchange’s services (including spot trading) went down abruptly. There were widespread reports of users failing to cancel their trades. At least on one occasion, a user alleged that they saw unauthorized transactions taking place on their Binance account. Read the Full Story

#7 Did a Delayed Tether Chain Swap Cause the Binance Outage?

Tether notified the community that there would be a delay in its planned chain swap with a third party. The delay coincided with the massive Binance outage that has left many users disgruntled and worried about the safety of their funds. Some analysts are suggesting that the two events could be related. Read the Full Article

#8 CME Bitcoin Futures Volume Collapse Raises Uncomfortable Questions

With the coronavirus-induced global market panic going on a full swing, there has been a significant decline in CME’s Bitcoin futures volume. It’s a borderline collapse for the platform, the more skeptical among us might argue. But exactly what triggered this downward spiral? Did we prematurely put too much faith in institutional interest in the asset class? Has Bitcoin failed to prove its worth as a reliable hedge? Some uncomfortable questions are being raised. Read the Full Article

#9 A New Digital Economy of CBDCs and Stablecoins Looming on the Horizon and Banks Seem to Have Accepted it

Not only are several major economies around the world preparing to launch their own Central Bank Digital Currencies (CBDC), but most major banks are also mulling over implementing distributed ledger technology (DLT) solutions. The implicants of these changing dynamics could be enormous for the cryptocurrency space. Read the Full Article

#10 Four Altcoins That Have Considerable Upside Potential

Our technical analyst Valdrin has dug up four relatively unknown, but promising altcoins that you might be interested in. These are Chiliz (CHZ), Hedera Hashgraph (HBAR), THETA (THETA), and Power Ledger (POWR). Read the Full Article

#11 Technical Analysis for the Day [BTC, LINK, EOS, MATIC]

MATIC broke out above key resistance area, Link reached an all-time high, and Bitcoin continues to hover around the high-$8,000s with an eye on the next major resistance area at $9,150. Read Full Analysis: BTC, MATIC, EOS, LINK