The Reasoning Behind Massive Backing for Darktrace
Darktrace, a cyber security company, backed by Mike Lynch, was recently valued at an estimated 100 million dollars. This was surprising to many as the company has been open for a mere two years, yet it is working with big companies such as Virgin Trains. The reasoning behind Darktrace’s success is a mystery to many. However, there is a safe and sound reasoning to the company’s success, but first, perhaps we need a little backstory on the creation of Darktrace. Surprisingly, it was created at the University of Cambridge due to their research in the field of Mathematics. Since the moment the....
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Bitget’s reasoning behind using a combination of a stablecoin and Bitcoin in the protection fund is to counter massive unforeseen volatility in crypto markets. With the ultimate goal to regain investor confidence amid a prolonged bear market, crypto derivatives exchange Bitget launched a $200 million fund to safeguard users’ assets. Bitget joins the growing list of crypto companies, such as Binance, that have taken an investor-centric approach to gain investors’ trust via protection funds.The Bitget Protection Fund comprises 6,000 Bitcoin (BTC) and 80 million Tether (USDT), valued at $200....
Indications coming out of China can be seen as, nothing less than, frankly, negative. Bitcoin has for a long time been functioning, not only as a means of exchange but also as a store of value. The returns from 2013 clearly suggest that mainline investors, buoyed up by stories of spiralling returns, were crowding on-board. The currency peaked in early December at just over $1,000 and is now, March, trading at just over half of that, but is this necessarily a negative? To examine what this means more clearly, I am going to apply some fundamental economic reasoning in an attempt to evaluate....
A print from 1845 shows cowrie shells being used for money. It seems every day we hear the Bitcoin deflationary argument, not only from publications such as Business Week, but even from proponents of Bitcoin. Let's state it clearly: The Deflationary Bitcoin Argument: Bitcoin is not inflationary because the supply is limited to 21 million coins. Therefore, people want to hold it and won't spend. When no one spends this reduces the demand for products and services. This ultimately harms the productivity of the economy leading to a worsening of economic conditions. Therefore, Bitcoin is bad,....
The NYAG found that Tether and Bitfinex misrepresented the assets backing USDT and obscured the loss of $850 million in user funds. The post Bitfinex, Tether Found To Misrepresent USDT Backing And Obscure User Fund Losses appeared first on Bitcoin Magazine.
The NYAG found that Tether and Bitfinex misrepresented the assets backing USDT and obscured the loss of $850 million in user funds.