Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.
The United States
Federal Reserve move could help propel bitcoin further: A latest decision taken by the Federal Reserve can actually benefit the long-term price outlook of bitcoin. According to the latest figures from Fed, the interest rate is to be kept between 2.25% and 2.5% in the country.
The move while more of the same seems to undercut the looming financial issues in the country including the issue of pressure on the greenback which the bank has so far failed to address publicly. With Bitcoin aspiring to become an alternative to the USD, it is possible that the news regarding the financial pressure will help propel BTC’s price further.
Florida city pays ransom in Bitcoin to hackers: Florida town Riviera Beach’s city government has been forced to pay a whopping USD 600,000 to hackers who targeted its online system. The case is unique because it is one of the rare instances in which an elected city government has had to pay ransom in the digital currency for cyber attacks.
Previously hospitals, ports and other strategic places have been targeted by hackers across the country. Since most of the data is stored on computers these days and is extremely valuable, many are now resorting to pay the criminals to get it recovered which is a worrying trend in not just United States but in North America as a whole.
IBM Layoff spares blockchain staff: A latest news report shows that IBM has laid off more than 1700 people from its workforce but the blockchain division of the tech giant was spared from these layoffs. According to the report by Block Crypto, IBM had decided in principle to layoff more than 1700 people earlier this month but the blockchain-related staff was spared because of its future applications.
According to the source:
“The product team had no layoffs, there was nothing out of development. It was very limited on the blockchain side.”
It is good news for the blockchain sector that jobs are relatively more secure than other sectors that are seeing some heavy layoffs in current years.
Tyler Winklevoss tight-lipped about libra: Tyler Winklevoss, bitcoin billionaire and co-founder of Gemini stablecoin and exchange has remained tightly lipped about future collaboration with Facebook and Mark Zuckerberg on its Libra stablecoin project while speaking
The issue remains complicated because of the history of Mark Zuckerberg and the Winklevoss twins who famously remained embroiled in a lawsuit regarding the idea of facebook during the early years of the social media platform. Winklevoss although did predict that Bitcoin will reach 15,000 USD once its 10,000 USD ceiling is breached.
Lawmakers unconvinced about Facebook’s Libra project: New plans by Facebook to launch its own stablecoin project Libra have received flak from some members of Congress who believe Facebook is getting beyond the government’s checks and balances with some likening it to a shadow bank.
House Financial Services Committee Chairwoman Maxine Waters is ahead of the pack on the matter and she wants the whole project examined by US regulators in depth before allowing it to continue its development. So far, only a white paper is available from Facebook on this regard.
Bank of Canada looking to review Facebook’s Libra project: The Bank of Canada has said on record that it will examine the new Libra project very carefully while refusing to comment on any specifics of the project that raise suspicion.
Overall, Facebook’s latest move has rattled many in government around the world and it remains to be seen what kind of strategy is being devised to counter the latest challenge posed by the social media giant.