The economic crisis will slow down the adoption of cryptocurrencies by 12-18 months

Mike Novogratz – The economic crisis will slow down the adoption of cryptocurrencies by 12-18 months

Galaxy Digital CEO Michael Novogratz says the economic crisis will slow down the adoption of cryptocurrencies by 12 to 18 months. He made this statement in an interview with Anthony Pompliano published on Twitter. The two discussed the imminent challenges facing the global financial space due to the pandemic.

According to Novogratz, the panicked population sold the digital assets they bought for “black days” because they needed cash. The crisis that will follow will not help the situation, so the cryptocurrency reputation will have to be rebuilt.

In any case, cryptocurrency prices will continue to face short-term volatility. The price of Bitcoin has fluctuated between $ 4,000 and $ 8,000 over the last seven days, and is currently trading around $ 5200

The Opera browser works with Wyre to enable the purchase of fiat cryptocurrencies

Opera announced a partnership with Wyre’s electronic payments startup to enable the purchase of fiat cryptocurrencies. The option is available to US users who can buy BTC and ETH for $ 250 each day. The acquisition involves a fee of 30 cents plus a transaction fee of 2.9%. BTC payments directly from the integrated wallet have been available since October 2019.

The director of the Opera’s crypto department, Charles Hamel, said the daily ceiling is low because it addresses dapps developers and daily users. It is not a feature for investors or speculators who trade cryptocurrencies in order to make a profit.

Collaborating with Wyre is part of Opera’s long-term mission to become the Web 3.0 access browser. The company has already added TRON support, a desktop version compatible with Ethereum dapps, cryptocurrency mining layers and a host of other built-in blockchain features.

BitGo also provides insurance for cryptocurrencies over $ 100 million

Crypto custody provider BitGo has announced it is offering an insurance product for digital assets in excess of $ 100 million. The insurance policy is offered in collaboration with the Lloydts insurance company in London.

“We have had a lot of requests from small and large companies. There were claims for insurance of $ 5 million or $ 10 million more. Also, we had requests of up to several hundred millions ”,

said Rodrigo Vicuna, CFO of BitGo.

Cold storage policies cover the loss of digital assets on devices that are not and will never be connected to the internet. It also covers the loss caused by theft, whether it is employees or third parties who gain physical access to storage media and cryptographic keys.

BitGo also gives customers the option to secure hot wallets, in collaboration with Coincover UK. This policy covers hacking from third parties – the most common method of theft for cryptocurrencies.

Steem is planning a hard fork to eliminate Justin Sun’s influence

The Steem community has announced it is planning a hard fork to eliminate Steemit Inc. of Justin Sun from the network. This hard fork is scheduled for March 20 at 10 am EST and will launch a new blockchain called “Hive”. According to SteemPeak, a front-end application for Steem:

“Hive is a DPOS (delegated proof of stake) governance blockchain created by implementing a hard fork of the existing Steem network. This new direction moves us away from the burden of Steemit Inc. ”

According to SteemPeak statements, Hive will be a direct copy of the existing blockchain, with a few minor upgrades.

Tron Foundation acquired Steemit last month in a very controversial move. The community tried to eliminate its decision-making capacity, but Justin Sun took control of the network with the help of large exchanges.