Joseph is a Vancouver, BC based writer with a background in journalism and a penchant for the strange, absurd and wonderful. His interests are broad and varied and range from blockchain and cryptocurrency to martial arts.
Blockchain-based Future FinTech Group (FTFT.Q) entered into a non-binding equity acquisition agreement with Joyrich Enterprises Limited to acquire 51% interest in Nice Talent Asset Management Limited (NTAM) today.
All the focus so far has been on Bitcoin’s price cratering earlier this week due to the coronavirus, and the fates of bitcoin dependent companies. Naturally, as bitcoin goes so do the altcoins, with most of the charts of the decentralized altcoins showing the same stark decline as Bitcoin. They’re nearly identical in shape with only the values changed to reflect the various cap sizes and prices, so there’s no need to post all five.
It takes a certain kind of person to be optimistic about cryptocurrency in the wake of the coronavirus. Bitcoin dropped almost 50% over the weekend and while it’s starting to correct itself, having climbed up a few hundred bucks over the past 24 hours, it’s still not anywhere close to the CAD$10K it was at this time last week.
Hut 8 Mining (HUT.T) went into damage control over the weekend following Bitcoin’s precipitous 46% crash in the wake of the coronavirus, optimizing their mining operations by running its equipment in the most cost-efficient modes possible.
Alternet Systems (ALYI.OTC) entered into a partnership with Interwave, an organization involved in an initial coin offering (ICO) to launch a cryptocurrency dedicated to funding electric mobility projects in Sub Saharan Africa.
Bitcoin is supposed to be a safe-haven currency. When the markets go to shit like they are today, in theory people evacuate their traditional positions and throw their money into digital currencies and other adjacent crypto-related stock, like bitcoin mining or one of the many digital asset companies offering the proximity and benefits of bitcoin without any of the hassle of actually owning any.