Filecoin Miners Go On Strike To Protest Economic Model – October 19

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$11,508

Bitcoin price has started the week by testing local highs, once again breaching the $11,500 mark to kick off Monday.

Top-20 altcoins have had a steady 24 hours of trading, with Ethereum up 1% and XRP up 2%. Coin is the day’s biggest loser with an 11% drop.

Top Stories for October 19, 2020 🔥

👉 Filecoin Miners Go On Strike To Protest Economic Model

Filecoin miners have gone on strike just a day after the network’s mainnet launch, in protest of its economic model.

The current model requires that miners must own a substantial quantity of Filecoins (FIL) to participate – an amount that is highly expensive to obtain at current prices.

To amend the issue, the Filecoin team has opted to distribute 25% of FIL rewards early, as soon as a miner has written a block.

👉 Coinbase Discloses 1,914 Requests from Authorities Over 6 Months

Coinbase published its very first transparency report last week, disclosing 1,914 customer information requests from law enforcement agencies over the last 6 months.

Almost 60% of the requests were made by state and federal agencies including the FBI, DEA and Homeland Security, while several other requests were made by the US Postal Inspection Service and ICE.

👉 Binance Hits New All-Time High in Quarterly Spot Trading Volumes

Binance has posted a new all-time high in spot trading volume over Q3 this year. The $306.6 billion of volume was more than double the previous quarter.

Futures trading volume also saw a significant increase, rising 43.5% from the previous quarter with a figure of $483 billion traded.