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

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $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 πŸ”₯

πŸ‘‰ 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.

πŸ‘‰ 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.

πŸ‘‰ 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.