150 Million Covid Rapid Tests To Be Distributed Nationwide

150 Million Covid Rapid Tests To Be Distributed Nationwide

By RTTNews Staff Writer | Published: 9/29/2020 10:30 AM ET

The Trump Administration announced a national plan to distribute 150 million Abbott rapid point-of-care coronavirus tests in the coming weeks to assist Governors' efforts to safely reopen their states and schools.

Explaining its details at a White House news conference, President Donald Trump said 50 million tests will go to protect the most vulnerable communities, and 100 million tests will be given to states and territories to support efforts to reopen their economies and schools immediately.

This includes 18 million for nursing homes; 15 million for assisted living facilities; 10 million for home, health, and hospice care agencies; and nearly 1 million for historically black colleges, universities and tribal nation colleges.

6.5 million tests will be shipped to governors this week.

Trump claimed that over the last eight weeks, hospitalizations due to COVID infection have declined by 48 percent, and have reached the lowest point since March. Due to advances in treatment, the fatality rate has fallen 85 percent since April, he added.

Health and Human Services Department said the Abbott BinaxNOW Ag Card rapid test is a unique testing option to provide support to K-12 teachers and students, higher education, critical infrastructure, first responders, and other priorities as governors deem fit.

The BinaxNOW rapid test – the only U.S. Food and Drug Administration-authorized antigen rapid point-of-care test that does not require an instrument – is easy to use, will produce COVID-19 test results in 15 minutes, and costs $5.

Admiral Brett Giroir, Assistant Secretary for Health, said testing may be performed by laboratories with a clear certificate of waiver. "This is not a home test. But during the health emergency, Seema Verma and CMS permits laboratories to extend their certificate to operate in temporary sites, like schools or churches or parking lots," he added.

The Federal government purchased Abbott BinaxNOW diagnostic tests on August 27 after FDA issued an Emergency Use Authorization (EUA) to ensure they would be expeditiously distributed to vulnerable populations as quickly as possible. Significantly, the nation's governors will not have to compete for the initial BinaxNOW shipments, or take time to set up purchasing contracts.

Abbott Diagnostics said it plans to make up to 48 million tests available monthly in the U.S. in the coming weeks.

For comments and feedback contact: editorial@rttnews.com

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Setting Records: Bitcoin Price Has Stayed Above 10000 Longer Than Ever In History

Setting Records: Bitcoin Price Has Stayed Above $10,000 Longer Than Ever In History

By Brenda Ngari – September 29, 2020

The bitcoin price has been holding above $10,000 since July 27. This resilience has excited well-known bull Anthony Pompliano who noted that the flagship cryptocurrency has been able to successfully discredit the BTC bear case.

Bitcoin Sets Record Of 63 Consecutive Daily Closes Above $10K

Morgan Creek Digital co-founder, Anthony Pompliano, took to Twitter on Monday to remind bitcoin haters that the cryptocurrency is setting major landmarks. In his tweet, Pomp observed that bitcoin has registered 63 straight days closing above the eminent five-digit mark.

This marks the longest series of daily closes above the $10K mark than any other time in history. According to Pompliano, it proves the haters' bearishness wrong. “There is always time to capitulate & join the party :),” he advised the bears. He also posited that the prolonged period is an indication that there is more upside to come.

Bitcoin's previous price record above $10,000 lasted for 62 days between December 1, 2017, and January 31, 2018. This was around the time the dominant cryptocurrency tickled the underbelly of $20,000.

Notably, BTCs latest record above $10,000 has been quite uneventful as the cryptocurrency has been stuck in a macro range between $10K and $12.5K. Nonetheless, 63 days is no small feat.

Bullish Fundamental On-Chain Tailwinds To Spur BTC Bulls

A couple of days ago, blockchain data firm CryptoQuant pointed out ten on-chain indicators that are favorable for the bitcoin market bulls. These indicators include the miners' position index(MPI), Puell multiple, Hash Ribbons, All Exchanges Outflow Mean, Stock to Flow, Stablecoin Supply Ratio, among others.

The confluence of these fundamental on-chain indicators suggests the bitcoin network is healthy and raises the probability of more upside. In other words, bitcoin could be primed to move higher based on these ten reasons. 

The OG crypto is trading at $10,753.87 at press time, representing a 2.19% gain on the day.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

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High Revenue From ETH Fees is Attracting Miners to Join Ethereum

High Revenue From ETH Fees is Attracting Miners to Join Ethereum

John P. Njui   •   DEFI • ETHEREUM (ETH) NEWS   •   SEPTEMBER 29, 2020

Quick summary:

  • The popularity of DeFi and Decentralized Exchanges since June 2020, has led to Ethereum experiencing high ETH fees
  • Miners are reaping big from these Ethereum transactions thus attracting new miners to the network
  • The value of Ethereum will continue to benefit positively from the demand to pay transactions with ETH

The team at Coinmetrics has released this week's SOTN (State of The Network) report in which they highlight that the rise of DeFi has increased Ethereum's hash rate towards all-time highs. Furthermore, high ETH fees paid by users to confirm transactions on the Ethereum network are incentivizing more miners to join the network.

The team at Coinmetrics shared their observation of the Ethereum network via the following statement.

The rise of DeFi has pushed Ethereum hash rate towards all-time highs.

With transaction fees surging, more miners are incentivized to join the network.

High ETH Fees Make Ethereum More Secure

Additionally, the high ETH fees paid out to miners mean that they are further incentivized to secure the network which is good for the long-term well-being of the Ethereum blockchain.

The fees are ultimately paid to miners, so high total fees create more incentive to secure the Ethereum blockchain.

Ethereum miner revenue hit new highs over the summer due to the rise in fees, and as a result Ethereum hash rate is climbing towards all-time highs.

This is a good sign for Ethereum, as network security is critical for the long-term health and success of the blockchain.

Ethereum’s Price To Benefit from Demand for ETH to Pay Fees

As earlier mentioned, the quick rise of Decentralized Finance projects such as UniSwap (UNI), Yearn Finance (YFI) and more, has caused a similar demand for ETH to power transactions on these protocols. The demand for ETH has had a positive effect on the price of Ethereum.

The team at Coinmetrics has captured this fact and explained that it all begun with Yearn Finance.

The rise of DeFi has brought on a wave of new tokens including some breakouts. The start of ETH’s summer bull run coincided with the launch of yearn.finance’s governance token YFI.

Furthermore, the report by Coinmetrics provided the following chart highlighting the launch of each DeFi project and its effect on the price of Ethereum.


Chart courtesy of Coinmetrics.io (Click image for larger view)

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Adult Obesity Increasing Worsens Outcomes From COVID-19: CDC

Adult Obesity Increasing; Worsens Outcomes From COVID-19: CDC

By RTTNews Staff Writer | Published: 9/18/2020 10:51 AM ET

New data from the Centers for Disease Control and Prevention, or CDC, show that adult obesity is increasing in the United States, and obese individuals are at heightened risk for severe outcomes from COVID-19.

The phenomenon remains high in 12 states, according to the 2019 Adult Obesity Prevalence Maps. Alabama, Arkansas, Indiana, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Oklahoma, South Carolina, Tennessee, and West Virginia have an adult obesity prevalence at a rate of 35 percent or above. This is up from nine states in 2018 and six states in 2017.

Combined data from 2017-2019 show notable racial and ethnic disparities persist in adult obesity.

34 states and the District of Columbia had an obesity prevalence of 35 percent or higher among non-Hispanic Black adults.

In addition to the maps, CDC has released a summary statement on obesity and race and ethnicity as related to COVID-19 risk.

The pandemic has increased the risk of severe illness, hospitalization, and death among obese people, it says.

Being obese may triple the risk of hospitalization due to a COVID-19 infection. It has been found that obesity is linked to impaired immune function.

Obesity decreases lung capacity and reserve and can make ventilation more difficult.

It has also been found that the risk of death from COVID-19 increases with a rise in BMI (Body mass index).

Studies have demonstrated that obesity may be linked to lower vaccine responses for numerous diseases.

Obesity disproportionately impacts some racial and ethnic minority groups who are also at increased risk of contracting COVID-19.

The report recommends that being active and eating a healthy diet can support optimal immune function and help prevent or manage chronic diseases that worsen outcomes from COVID-19.

These actions, as well as getting enough sleep and finding healthy ways to cope with stress are found to be helping with weight maintenance and improve overall health.

For comments and feedback contact: editorial@rttnews.com

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Ethereum Projects Continue to Freeze Tokens Affected by KuCoin Hack

Ethereum Projects Continue to Freeze Tokens Affected by KuCoin Hack

John P. Njui   •   ETHEREUM (ETH) NEWS   •   SEPTEMBER 27, 2020

Quick take:

  • Multiple Ethereum based projects affected by the KuCoin have intervened
  • Some have frozen their ERC20 tokens with others initiating hardforks
  • The KuCoin hack amount has increased to $203 Million and could continue climbing

Almost immediately after the KuCoin hack, the team at Tether announced that it had frozen a total of $33 Million USDT stolen from the exchange. Of this amount, $20 Million was Ethereum based USDT. Tether would go on to freeze an additional $1 Million on the Omni network and another $1 Million on the Tron network.

These actions to freeze stolen funds by Bitfinex and Tether set the pace for other affected Ethereum based projects to also take similar action in stopping the hackers from profiting from their heist.

Notable Ethereum Projects Taking Action Against the Hackers

Below is a list of Ethereum projects acting fast to invalidate stolen ERC20 tokens from KuCoin.

  • Ocean Protocol initially paused its smart contract and has decided to carry out a hard fork at block height 10,943,665 on the Ethereum mainnet to invalidate $8.6 Million in stolen OCEAN tokens
  • Orion (ORN) has decided to do a 1:1 token swap at block 10,939,462 thus invalidating approximately $8.5 Million on stolen tokens
  • Covesting has frozen COV tokens associated with the KuCoin hack
  • SilentNotary will re-issue new SNTR tokens
  • The team at Crypterium has sent out an email to holders advising them not to interact with the Ethereum address with the stolen CRPT funds

Other Non-Ethereum Projects Taking Similar Actions

Furthermore, projects on other networks were also affected by the KuCoin hack and they too have decided to take similar action. They include:

  • VELO Labs will invalidate all affected 122 Million VELO tokens on the Stellar network
  • Kardian Chain will perform a 1:1 token swap to protect KAI holders from the hack

Total Amount Stolen Has Increased to $203 Million

At the time of writing, the total amount of funds stolen from KuCoin has jumped to $203 Million after KuCoin continued to provide crypto addresses linked to the hack. Below is a list of the new addresses of Bitcoin, Ethereum, Litecoin, XRP, Bitcoin SV, Stellar (XLM), Tether (USDT) and Tron (TRX), that KuCoin has published as being connected to the hack.

ETH: 0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23

BTC:

1NRsEQRg5EjmJHbPUX7YADVPcPzCQBkyU7

12FACbewf5Fy9nmeaLQtm6Ugo5WS8g2Hay

1TYyommJW3uhjhcnHhUSuTQFqSBAxBDPV

LTC: LQtFoidy5TmLrPP77MZzgMRffqPsmRfMXE

XRP: r3mZvvHVLPtRWAujzBsAoXqH11jhwQZvzY

BCHSV: 15mC7zKbLyErSKzGRHpy6gyqS7GyRpWjEi

XLM: GBM3PJWNB5VKNOFXCDTTNXPMUNBMYTLAAPYDIIKLHUGMKX7ZGN2FNGFU

USDT: 1NRsEQRg5EjmJHbPUX7YADVPcPzCQBkyU7

TRX: TB3j1gUXaLXXq2bstiSMfjQ9R7Yh9DdDgK

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Weiss: ETH’s a Great Trading Instrument But Hodling BTC is Better

Weiss: ETH’s a Great Trading Instrument But Hodling BTC is Better

John P. Njui   •   BITCOIN (BTC) NEWS • ETHEREUM (ETH) NEWS   •   SEPTEMBER 26, 2020

Quick take:

  • According to Weiss Ratings, buying and holding Bitcoin is a better option than holding ETH
  • 2017 was the first time ETH hit $300 when Bitcoin was at $1,000
  • ETH is still in the $300 levels with BTC now 11x higher
  • Ethereum is a good trading instrument but Bitcoin is a better option for a buy-and-hold strategy

In a recent Tweet, the team at Weiss Ratings has pointed out that Bitcoin is a better option than Ethereum when it comes to a buy-and-hold investment strategy. Weiss Ratings demonstrated this fact by pointing out that 2017 was the first time Ethereum hit the $300 mark when Bitcoin was valued at around $1,000.

Three years later and in 2020, Ethereum is once again in the $300 value range whereas Bitcoin is knocking at the $11k price level. In terms of returns, BTC is now at 11x thus demonstrating that Bitcoin is a better option for a buy-and-hod strategy.

However, the team at Weiss did not totally dismiss Ethereum and highlighted that it was a great trading instrument for those who prefer to capitalize on ETH’s price movements.

The full statement by Weiss Crypto Ratings can be found in the following tweet.

What Next for Ethereum in the Crypto Markets?

Further exploring Weiss Ratings’ statement of Ethereum being a great trading instrument, we find that ETH recently broke the $350 resistance level and is currently trading at $352. Furthermore, and using the daily ETH/USDT chart, it can be observed that Ethereum has printed what looks like a double-bottom pattern at the low $300 price area.


(Click image for larger view)

Also from the daily ETH/USDT chart, the following can be observed.

  • ETH’s price is currently above the 100-day moving average (yellow) which is providing adequate support around $320
  • Trade volume is in the green further hinting at a renewed interest in Ethereum ahead of ETH2.0
  • Daily MACD is indicating bullishness below the baseline
  • MFI is at 42 which is neutral territory and could foreshadow either sideways movement or consolidation before a move up

What remains to be seen, is whether Etheruem has enough momentum to break the familiar resistance levels of $365 and $390 as ETH2.0 draws closer to launching on the Mainnet.

As with all analyses of Ethereum, traders and investors are reminded to keep an eye out for any sudden Bitcoin movements that might ruin the party.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

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Bitcoin price unfazed after 150M hack of major exchange KuCoin

Bitcoin price unfazed after $150M hack of major exchange KuCoin

KuCoin reported a major security breach on Sep. 26, affecting Bitcoin, Ether, and ERC20 hot wallets while BTC and ETH prices remain unfazed.


Image courtesy of CoinTelegraph

            SEPT 26, 2020

In an official statement, KuCoin Global CEO Johnny Lyu confirmed a major hacking attack on Sep. 26. The breach affected the firm’s Bitcoin (BTC), Ether (ETH), and ERC20 hot wallets, after private keys were leaked. Reports estimate the breach to have affected $150 million in user funds.

Following the security breach, the price of Bitcoin barely moved, however. Other major cryptocurrencies, including Ether and decentralized finance (DeFi) tokens also remain relatively unfazed by the hack.

A cryptocurrency exchange security breach historically led to market-wide sell-offs due to the fear of hackers potentially selling the proceeds.

But Tether (USDT) has moved quickly to suspend the transfer of assets that are linked to the security breach. Major exchanges, including Bitfinex, also froze USDT associated with the hack.

The swift response from Tether and top exchanges could prevent most of the funds from being moved by the hackers.


Bitcoin outflows on Kucoin after the hack. Source: CryptoQuant (Click on image for larger view)

KuCoin contacts major exchanges, Tether and Bitfinex freeze $33m

According to Paolo Ardoino, the chief technical officer at Bitfinex and Tether, the two entities froze $33 million in total.

If early estimates are accurate and $150 million were hacked, that represents 22% of the lost funds. He said:

“Bitfinex froze 13m Tether USDt on EOS as part of the hack, Tether just froze 20M Tether USDt sitting on this Ethereum address https://etherscan.io/address/0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23 as precautionary measure. Stay safe everyone!”

In the official statement, Lyu said KuCoin is now in contact with Huobi, Binance, OKEx, BitMax, and ByBit. The company also said it is cooperating with law enforcement and relevant blockchain projects.

At least in the near term, it would make it challenging for hackers to try to move the funds. The CEO said:

“We are in contact with many major crypto exchanges such as Huobi, Binance, OKEx, BitMax and Bybit, as well as blockchain projects, security agencies, and law enforcement to work on this. Some effective measures have been taken, and we will update with more details soon.”

While a small amount of the hacked funds are in Bitcoin, most are reportedly stored in ERC 20 tokens. The risk of the tokens is that hackers could potentially utilize DeFi protocols in an attempt to eliminate “tainted” tokens.

But according to Primitive Crypto founding partner Dovey Wan, hackers struggled to handle the tainted funds. She explained:

“The hacker who hacked Kucoin apparently is a Defi noob, tried to sell on Binance and didn’t swap the tai/Users/macbook/Desktop/bitcoin-price-unfazed-after-150m-hack.txtnted USDT on Curve. All Defi infra are natural mixers with ultra low slippage… Hackers with normal IQ will soon figure out, this is not some alpha leak and Defi infra is designed to serve all purposes … if a hacker can hack a cex, no point he/she has no idea how to successfully liquidate via dex.”

Bitcoin remains stable above $10,700

After reclaiming the $10,407 whale cluster that has turned into a support area, Bitcoin has seen a short-term trend reversal.


The 4-hour chart of Bitcoin. Source: TradingView.com (Click on image for larger view)

On Sep. 26, Cointelegraph reported that whale clusters at $10,407 grew following the recent BTC rally above $10,700. The data indicates that whales have been accumulating above $10,000, depicting an overall strong market sentiment.

The resilience of Bitcoin despite a high-profile security breach demonstrates the strength of the ongoing uptrend.

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Why This Analyst Is Sure That Bitcoin Is Finally Ready To Test 20000

Why This Analyst Is Sure That Bitcoin Is Finally Ready To Test $20,000

By Adrian Klent – September 25, 2020

Decentralized Finance, aka DeFi, has been the talk of the cryptocurrency community for the most part of the month, but amidst the commotion, a bull run might be impending, says popular cryptocurrency analyst who goes by the name MoonCarl. “People are not talking about Bitcoin anymore,” he says, as a pointer to the previous weeks in which DeFi and altcoins became a buzz.

Back in the day, Bitcoin which is unarguably the most popular and talked about cryptocurrency was always making rounds for its impressive price breakouts. With every major adoption, there was a significant buzz and this is no surprise because Bitcoin is the first and most valued top cryptocurrency to date. However, the birth of new altcoins has given way for conversation diversification and with the increase in usage, newcomers like DeFi are constantly gaining popularity.

Even altcoins are taking over the market with more stability in the month of September. Subtle price upswings are springing up and the likes of Ethereum have begun to make a correction in price movement.

Newcomers like Uniswap (UNI), Yearn.Finance (YFI) have predominated the market with gains. At the time of this writing, most altcoins are dealing with mild losses but nothing substantial enough to signal that an altcoin bear trend is brewing. For the most part, DeFi tokens have prolonged altcoin season but this analyst’s take is now implying that a bull run could catch the market by surprise.


BTCUSD Chart By TradingView (Click on image for larger view)

Note that Bitcoin testing $20,000 isn't the same as Bitcoin testing and staying range-bound in the $20k level. Due to the swiftness with which a bull run is ignited, a bear trend might immediately follow.

It is for this same reason that Bitcoin could easily test $20,000 any time soon. A fundamental factor could trigger this long-awaited $20,000 bull run. Bitcoin will have to first have to cross $12,000 and sustain that price level, but more adoption is necessary for this to happen. At press time, Bitcoin is trading at a price of $10,712. The overnight correction in price has positioned Bitcoin for $11,000, but within the next 24hrs Bitcoin will need to hold strong above $10,500.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Adrian Klent and posted on ZyCrypto.com.

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CSBS Sets One Company One Exam For Nationwide Money Transmitter License

CSBS Sets One Company, One Exam For Nationwide Money Transmitter License

By RTTNews Staff Writer | Published: 9/25/2020 10:18 AM ET

The U.S. State Regulators organization has rolled out a state-initiated program whereby nationwide payments firms, including cryptocurrency firms, will undergo one comprehensive exam in 2021 to satisfy all state examination requirements for the money transmitter license across the U.S. The firms holding licenses in 40 or more states in the U.S. will be eligible for the exam.

The Conference of State Bank Supervisors (CSBS) will offer the one company, one exam to 78 of the nation's largest payments and cryptocurrency companies in 2021 that currently hold the license in 40 or more states. These companies move a combined more than $1 trillion in customer funds annually.

CSBS is the nationwide organization of banking regulators from all 50 states, the District of Columbia, American Samoa, Guam, Puerto Rico, and the U.S. Virgin Islands.

The streamlined state examinations, known as MSB Networked Supervision, for the money transmitters license will be conducted from 2021. This follows the successful completion of One Company, One Exam pilots conducted in 2019 and early 2020. The pilots included several companies, including Western Union.

MSB Networked Supervision is one of several state-driven programs based on recommendations from the CSBS Fintech Industry Advisory Panel, which emphasized the need to increase multistate exam coordination.

This exam protocol will enable states to fine tune a risk-based approach to each company's operations when compliance issues arise. Each exam will be led by one state overseeing a group of examiners sourced from across the country. This will help regulators gain more insight while also freeing up state resources.

This exam when compared to the multistate exams will be a significant change in terms of driving harmonization and streamlining of state supervision across the board.

This initiative has broad support from all CSBS members and Money Transmitter Regulators Association (MTRA) membership, which spans all state regulators that regulate money transmission.

For comments and feedback contact: editorial@rttnews.com

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Phil Anderson Again Accepting Campaign Donations In Cryptocurrencies

Phil Anderson Again Accepting Campaign Donations In Cryptocurrencies

By RTTNews Staff Writer | Published: 9/24/2020 10:17 AM ET

Phil Anderson is again challenging the state regulators by accepting election campaign donations in cryptocurrencies such as Bitcoin. Anderson is a candidate for Wisconsin State Assembly, District 47. He is a real estate broker, entrepreneur, business owner, and US Army Veteran.

Anderson had accepted cryptocurrency donations during his 2018 campaign for Governor of Wisconsin, which the Wisconsin Ethics Commission (WEC) found to be a serious challenge to compliance with state law.

Anderson is again challenging the WEC by accepting bitcoin donation for his 2020 Assembly campaign as the WEC had failed to arrive at a decision on its legality in 2018. He had challenged the WEC by accepting bitcoin donations in 2018.

"Cryptocurrency is money, and as such, is a legitimate way to make campaign donations. The WEC declined to interpret its own rules competently, and the Wisconsin Assembly refused to take up the issue," says Anderson.

WEC had in 2018 said that they would wait for the Wisconsin Legislature to make a law allowing or disallowing donations in cryptocurrency.

Anderson cited many other campaigns nationally, including Senator Rand Paul, to have accepted donations in cryptocurrency. Federal Elections Commission rules allow cryptocurrency donations, but many states have not caught up, he added.

"I refuse to give in to ignorance and bureaucratic incompetence," continues Anderson. If my opponent or the Ethics Commission are interested in challenging me, I'm ready for a fight."

Anderson is using crypto payment processor BitPay's donation platform, which, like other donation platforms, can require the donor submit the contact information necessary to conform with state regulations.

Cryptocurrency donations are converted to dollars and deposited directly into the bank account registered with the Wisconsin Ethics Commission.

For comments and feedback contact: editorial@rttnews.com

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