BitTorrent Founder Accuses Justin Sun of Defaulting On Final Payment!!! – Crypto Daily News
In today’s news segment, I have found five pieces of breaking news to discuss with you. Now, I will briefly show what they are. First up, an article in Forbes pointed out that analyzing Bitcoin’s price movements can help the crypto holder see the potential price catalyst. Second up, just recently, JP Morgan, an American financier, and banker, stated that the US currency is coming to an end of its global dominance, which has lasted for nearly a century. Next, according to BTC manager, STMicroelectronics, a global semiconductor leader, will cooperate with IOTA Tangle in an effort to facilitate new IoT solutions. Furthermore, it is so cool to know that, now you can withdraw BAT tokens directly from the Brave browser, a web browser developed by Brave Software, Inc. And finally, Justin Sun has been accused of not making the last payment for BitTorrent, according to a publicly posted tweet from Bram Cohen, the creator of BitTorrent. If you want to know all about them, then please make sure you stay with me until the very end.
And this week, we still have a great giveaway for all of you. We are very happy to announce a $70 Bitcoin Giveaway for this week. All you need to do is to like, comment, and subscribe, to have a chance to win. We will announce the winner tomorrow, by drawing out a video from this week and then drawing the winner from that video. And remember guys, this is the last chance to win this week’s giveaway.
The Market Today
Now, let’s see how the cryptocurrency market is performing. It looks like the market is undergoing a lot of fluctuations. On our top 10 tokens, Bitcoin is decreasing at 1.89%, falling below the $10,000 mark. Ethereum and XRP also witness a similar trend with 1.35% and 2.11% drop over the past 24 hours. Moving on to the top 20, TRON and Cosmos are significantly declining, more than 5%. Meanwhile, Dash and Tezos are the only tokens that can manage to gain 2.6% and 0.25% respectively.
Analyzing Bitcoin’s price movement to predict future patterns
Now let’s move onto the first news item for today. According to a report in Forbes, Digital Assets Data, a financial data firm specializing in cryptocurrencies, claims that computing and analyzing the trading data of Bitcoin and other tokens all over the world can help analysts and crypto holders draw the future trend of these coins. Furthermore, the financial company has revealed that Bitcoin currently functions as a store of value, which is a substitute for countries with high depreciation of fiat money. Meanwhile, in less inflated nations, Bitcoin and other tokens transaction are purported for speculation, which highlights the great potential for the token to experience a surge in Bitcoin value in the future. Mike Alfred, chief executive and co-founder of Digital Assets Data, expressed his thoughts:
“We found that in developing countries and places where monetary policy and banks are less stable, bitcoin trading volume continued to rise even as the bitcoin price was falling”.
He also added that:
“While this is currently happening in smaller economies, if there was instability in the developed world, perhaps through a major recession or spike in unemployment, there could be a significant surge in interest in bitcoin, resulting in a potential positive catalyst for the bitcoin price.”
The results of the research also meant that the trading volume in countries with a significant inflation levels shows very little connection with its price, whereas in its counterpart, those with a high deflation level, seem to have a strong correlation between volume and price.
JP Morgan stated that the US dollar is losing its dominance
Moving on to the second news item for today. According to JP Morgan, they believe that the current global dominant currency – US dollar – will soon lose its position and level of appreciation, which it has possessed for almost a century. In more detail, the bank’s strategist Craig Cohen stated in his report:
“We believe the dollar could lose its status as the world’s dominant currency…due to structural reasons as well as cyclical impediments.”
He also pointed out the fact that every dominant currency has its ups and downs because of the changes in global economic centers, which is currently moving to Asia. For those who are unaware, the Asia economic zone, which includes countries from the Arabian Peninsula and Turkey in the West to Japan and New Zealand in the East, and from Russia in the North and Australia in the South, which makes up more than 66% of the world economic growth and half of the global GDP. Furthermore, the increasing purchasing power of regional currencies will enhance the non-USD transaction volume, which will ultimately set a firm basis for the future replacement of the US dollar. Regarding this situation, JP Morgan said:
“In other words, in the coming decades we think the world economy will transition from the US and US dollar dominance toward a system where Asia wields greater power”.
STMicroelectronics will cooperate with IOTA Tangle
And here we come to the third piece of news. It is awesome so know that STMicroelectronics, a global semiconductor leader specializing in electronics applications, is going to collaborate with IOTA Tangle, a fee-free and peer-to-peer (P2P) solution, to promote the coming Internet of Things (IoT). Specifically, this new integration concentrates mainly on ST’s STM32Cube expansion software for the industry-leading STM32 32-bit MCU ecosystem, the X-CUBE-IOTA1. Following this new collaboration, developers can now enhance the scalability of the P2P network and a free structure of IOTA to develop systems, environments, products, and services for the ST user community.
Uphold enables withdrawing BAT token from Brave browser
Moving on, guys. According to a new report on BTC Manager, Brave browser’s users can finally withdraw their BAT tokens directly on their web browser. More specifically, a Reddit user posted a photo to prove that Uphold, a platform app model with payment connectivity to offer financial services to a global market, now enables its users to transfer their money in BAT from the browser Brave.
BitTorrent founder accuses Justin Sun of the failed payment
And here we come to the final piece of news for this week. Per a report on Crypto Slate, Bram Cohen, the founder of BitTorrent, just posted a tweet on July 26, accusing Justin Sun, the founder of TRON, of not fulfilling the last payment in TRON Foundation’s $140 million acquisition. The BitTorrent CEO claimed:
“Anybody know if Justin Sun is hard up for cash? He isn’t letting the last payment for BitTorrent get out of escrow.”
For those who are unaware, in June 2018, Justin Sun entered an agreement to acquire the torrenting company for $140 million. According to the legal paperwork filed in early 2018, before the acquisition of TRON foundation, BitTorrent unexpectedly changed its name to “Rainberry”, which it was soon sued because it violated a “No-Shop” clause. In response to the scandal, head of business development of TRON, Roy Liu stated that money in escrow is “not considered Justin’s cash”. In addition, Sun had already signed the release agreement. However, the founder of BitTorrent harshly replied:
“Are you claiming you aren’t trying to get any of the cash back? And do you have an explanation for not signing off on [the deal] two months ago when it was scheduled to happen?”
And there you have it guys! That news is an end for today’s video and also for this week.
So what are your thoughts on all the news?
Do you think that studying the global data of cryptocurrencies can help analysts to predict the price pattern?
Can Asian currencies beat the US dollar?
What do you think about the new partnership between STMicroelectronics and IOTA?
Are you excited about the new feature of the Uphold wallet?
What do you think about the behavior of Sun and the BitTorrent founder?
Please leave a comment right below to let me know what you guys are thinking. And guys, please don’t forget to like and subscribe to go into the draw to win $70 worth of Bitcoin. This is your last chance to win our giveaway for this week. It’s your girl Cindy with CryptoPig. I’ll see you guys next week.
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.