Cryptocurrency News

By Sunny Hoi
  • Bitcoin News - 7 July 2020, 8:30 pm

    The most popular stablecoin tether (USDT) has officially been minted on the Bitcoin Cash blockchain via the Simple Ledger Protocol (SLP). At press time there’s only 1,010 SLP-based USDT in circulation, as the firm Tether Limited seems to be issuing small amounts and testing the SLP framework. Tether (USDT) is the king of stablecoins in […] The post The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network appeared first on Bitcoin News.Read More

  • Cointelegraph.com News - 7 July 2020, 8:01 pm

    Cardano’s founder wants to posse up with Litecoin’s founder. Cardano founder Charles Hoskinson recently said that he would not mind working with Litecoin founder, Charlie Lee, to test cross chain communication.”It would be great to do something together,” Hoskinson said in a July 7 tweet to Lee. Both men founded industry giantsHoskinson founded Cardano (ADA), which, at press time, sits seventh on the list of crypto assets in market cap size, according to CoinMarketCap. Litecoin maintains the eighth spot. Both figure heads hold notable status in the crypto and blockchain space. “I love the idea of testing cross chain communication between Litecoin and…Read More

  • Cointelegraph.com News - 7 July 2020, 8:00 pm

    LINK token experienced a massive price surge as China’s national blockchain network activated 135 nodes with integrated Chainlink price oracles. Chainlink (LINK) reached an all-time high of $5.60, appreciating 15% on the day. This comes amid the news that China’s Blockchain Service Network, or BSN, launched this past weekend.LINK price over the past 12 months. Source: Nomics.The BSN recently integrated Chainlink’s price oracles into its ecosystem. The founding members of the BSN consortium were local tech leviathans like the China Mobile Communication Corporation and China Union Pay. Its stated goal is to advance blockchain technology in China. 135 nodes go live…Read More

  • Cointelegraph.com News - 7 July 2020, 7:45 pm

    The South Korean government considers a free trade zone for industrial hemp run on a blockchain-based platform. Andong, a city in the Gyeongbuk province of South Korea, announced on July 7 that they’ve been granted a permit to operate a free trade zone for industrial hemp. They additionally announced that they will manage their operations through a blockchain-based platform.According to Newspim, Gyeongbuk’s governor, Lee Chul-woo, held a press conference to reveal the permit granted to the city, allowing them to run the “Special Industrial Hemp Free Zone.” This zone aims to present a new model of regional specialized industries by…Read More

  • Cointelegraph.com News - 7 July 2020, 7:43 pm

    Kyber Network recently put KyberDAO and a protocol upgrade into play. Kyber Network just put a protocol upgrade into operation on its mainnet in tandem with its decentralized autonomous organization, or DAO.  Kyber fired up its Katalyst Protocol Upgrade as well as its decentralized finance, or DeFi, solution — KyberDAO, the Kyber Network said in a July 7 blog post. The upgrade caters to the DeFi moveKeeping up with the DeFi wave, Kyber Network put Katalyst in play to help with KyberDAO’s liquidity, the post said. “In addition, the KyberDAO will empower the Kyber and DeFi community with an actual stake in Kyber’s future, and…Read More

  • Cointelegraph.com News - 7 July 2020, 7:25 pm

    A veteran game developer discussed how and why the gaming industry can be decentralized at the Unitize conference. Blockchain gaming may become the next evolution of an industry that is now well into reaching market cycle maturity, according to Outplay Games’ CTO Paul Gadi.In his panel at Unitize, titled “Decentralizing Video Games,” he delivered a presentation on how blockchain can reinvigorate an industry that has fallen into what many consider predatory practices and platform lock in. He identified three ways in which blockchain can help solve issues deriving from industry centralization.Decentralized identityA key step in decentralizing games, according to Gadi,…Read More

  • Cointelegraph.com News - 7 July 2020, 7:06 pm

    Hackers profited over $7 million by selling the data via dark web. A hacker gang known as “Keeper” established an interconnected network to steal credit card data from over 570 e-commerce sites. Since 2017, they have profited around $7 million in crypto by selling card information through the dark web.According to a July 7 study by threat intelligence firm, Gemini Advisory, the hacker group managed to create 64 attacker domains and 73 exfiltration domains. These domains were used to retrieve user credit card data from numerous e-commerce sites located across 55 countries.The malicious domains hosted an identical login panel from…Read More

  • Cointelegraph.com News - 7 July 2020, 6:45 pm

    A private key management startup, Torus, enables social media users to send crypto using Twitter and GitHub handles. Torus, a Singaporean crypto key management platform, now allows users to send cryptocurrencies through social media platforms such as Twitter.With Torus’ latest update, v1.7.2, users can now send tokens to any Twitter or GitHub account, even if that account has never used Torus’ crypto wallet, the firm said.Torus publicly sends ETH to Buterin, Musk, and CZ on TwitterAnnouncing the news on Monday, Torus showcased a couple of Twitter transactions, featuring 0.01 Ether (ETH) transfers to major crypto figures such as Ethereum co-founder Vitalik…Read More

  • Cointelegraph.com News - 7 July 2020, 6:45 pm

    SEC Commissioner Hester Peirce wants to see new crypto projects get a fair shake at U.S. capital markets. In a July 7 fireside chat courtesy of Unitize, Commissioner Hester Peirce of the Securities and Exchange Commission continued to advocate for regulatory clarity for crypto as a means of opening up capital markets to innovation.Innovation and regulation“I believe in the power of our capital markets to transform people’s lives,” said Peirce. “I wanted to make sure that our regulatory structure was flexible enough to accommodate innovation.” She noted that the the size of the U.S. economy makes its regulations critical to…Read More

  • Bitcoin News - 7 July 2020, 6:25 pm

    A series of bank runs has prompted the Chinese government to begin requiring approval for large cash deposits and withdrawals at commercial banks, starting with banks in a northern province. Recently, two bank runs happened within a week as people lost faith in financial institutions amid unprecedented economic contraction. China’s Efforts to Prevent Bank Runs […] The post Escalating Bank Runs Spur Chinese Government to Require Approval for Large Cash Transactions appeared first on Bitcoin News.Read More

  • Cointelegraph.com News - 7 July 2020, 6:20 pm

    Luxury car company Rolls Royce announced a line of cars hosting blockchain puzzles, shortly after Lamborghini revealed a yacht. Crypto and blockchain experts now have something new to save up for — a line of techie-style Rolls Royce cars, each complete with a cryptographic puzzle. As crypto prices pop off,  participants may begin asking “When Rolls?” instead of the popular 2017 phrase, “When Lambo?”Leaving a fair bit of detail to the imagination, Rolls Royce’s website now shows limited details of its new 50 car lineup.  A shoutout to the GreeksThe car line’s label, Wraith Kryptos, comes from Greek origin relating to…Read More

  • Cointelegraph.com News - 7 July 2020, 5:53 pm

    The US Secret Service issued a security alert about ransomware attacks. The U.S. Secret Service issued a warning about an increase in hacks targeting managed service providers, or MSPs, of both the U.S. private sector and various government entities.According to a document published by ZDNet on June 7, threat actors have been widely relying on ransomware attacks, point-of-sale intrusions, and business email compromise scams to breach the internal networks of MSP customers.Remote management software under threatMSPs are service providers related to remote management software for enterprises, including file-sharing systems for internal networks, which could also be hosted inside a cloud…Read More

  • Cointelegraph.com News - 7 July 2020, 5:15 pm

    The Aave decentralized finance protocol new feature lets users borrow money without posting collateral. The Aave lending protocol recently launched a new feature called Credit Delegation. This feature allows users to provide peer-to-peer loans with no formal collateral requirements.Stani Kulechov, the CEO of Aave, explained via Twitter how the system will work. The Credit Delegation feature relies on peers to enter into agreements between each other that allow borrowers to use the lender’s credit line freely.The two parties must enter into a formal legal agreement that would define terms such as repayment schedule, interest and other necessary conditions. Through an…Read More

  • Cointelegraph.com News - 7 July 2020, 5:00 pm

    The founder of the first crypto venture capital firm believes that altcoins will eventually provide better returns than Bitcoin. Dan Morehead, the founder of the first crypto venture capital firm, Pantera Capital, believes that altcoins will outperform Bitcoin (BTC) over the next couple of years.Speaking at the Unitize virtual event, Morehead said that in the short-term, his firm is betting on altcoins:“And it’s our opinion that these altcoins and particularly smaller cap smart contract tokens are going to outperform Bitcoin over the next couple of years.”Portfolio altcoins are up 100%He emphasized that it would be incorrect to suggest that Pantera…Read More

  • Cointelegraph.com News - 7 July 2020, 4:57 pm

    Part 1 of this series covers the legal implications associated with the sale of SAFTs and different approaches to legal interpretations of tokens. The enfant terrible of the digital token world, the Simple Agreement for Future Tokens, or SAFT, continues to grab headlines. In the recent Telegram case, the federal district court for the Southern District of New York enjoined Telegram Group Inc. from proceeding with its long-planned token generation event, finding not only that the issuance of their tokens, Telegram Open Network, would violate the registration requirements of the Securities Act of 1933 but that the initial placement of…Read More

  • Cointelegraph.com News - 7 July 2020, 4:46 pm

    Reports of double-spending keep plaguing crypto firms and investors alike. Will this issue ever be resolved, or is it here to stay? Double-spending is an issue that has existed ever since Bitcoin’s (BTC) inception, and according to a recent report from ZenGo, it still persists across cryptocurrency wallets such as BRD, Ledger Live and Edge.Although these companies have updated their product offerings since ZenGo pointed out this discrepancy, it is speculated that millions of crypto users could have been exposed to this particular exploit, dubbed BigSpender. Ledger, one of the impacted crypto wallet firms, even claimed that this vulnerability is…Read More

  • Cointelegraph.com News - 7 July 2020, 4:11 pm

    Someone impersonating Tron CEO Justin Sun recently tried luring investors into buying a fake Tron privacy asset as part of a token sale offering. Gumi Cryptos Capital partner, Miko Matsumura, recently spoke with a scam artist pretending to be Justin Sun. The imposter was attempting to sell a supposed privacy-focused crypto asset pegged to the value of real Tron TRX coins. Upon initial inspection of the project and its token sale, Matsumura jumped on Skype for a call with someone who claimed to be Justin Sun. “The impostor was very realistic as you can see,” Matsumura told Cointelegraph referring to a video…Read More

  • Bitcoin News - 7 July 2020, 4:01 pm

    The Trump administration is looking at banning Tiktok and other Chinese social media apps, according to Secretary of State Mike Pompeo. The US has been concerned about Tiktok being used by the Chinese government to mine American users’ data. India has already banned Tiktok in its country, along with 58 other mobile apps. US Considers […] The post Tiktok Ban: US May Join India in Banning Chinese Social Media Apps appeared first on Bitcoin News.Read More

  • Cointelegraph.com News - 7 July 2020, 3:06 pm

    Tezos’ price looks ripe to follow in Chainlink’s footsteps for a massive rally, and even new all-time highs given the correlation of these two cryptocurrencies. Altcoins have been taking the spotlight as massive surges are seen across the board. Some have been making 1,000% moves or more such as Aave (LEND) and Zilliqa (ZIL), for example. Others are slowly waking up out of the ashes, and some are printing new all-time highs. One of those recent all-time highs is Chainlink (LINK), as its price broke above $5 for the first time ever. Once Chainlink moves, Tezos (XTZ) follows. Will it be…Read More

  • Bitcoin News - 7 July 2020, 3:01 pm

    With over 11 Million Bitcoin.com Wallets created, we’re building new features our users need most in order to enjoy the best possible cryptocurrency experience. Our wallet’s latest features now provide seamless swaps between bitcoin (BTC), bitcoin cash (BCH), and the stablecoin honestcoin (USDH). Moreover, Bitcoin.com’s new portfolio breakdown allows users to manage their assets with […] The post Bitcoin.com Wallet Launches New Portfolio Breakdown and Stablecoin Swap Features appeared first on Bitcoin News.Read More

  • Cointelegraph.com News - 7 July 2020, 2:47 pm

    U.S. Treasury’s former key undersecretary, Sigal Mandelker, has joined the board of advisors of major crypto analytics firm, Chainalysis. A former key executive at the United States Department of the Treasury has joined a major cryptocurrency investigation firm, Chainalysis.Sigal Mandelker, a former Treasury Under Secretary for terrorism and financial intelligence, has reportedly joined Chainalysis’ board of advisors. As officially announced on July 7, the new position on the startup’s board comes alongside Mandelker’s participation in a Chainalysis’ extended $49 million Series B funding round.Mandelker to share blockchain investigation experience with ChainalysisAs reported by Forbes, the new position on the board…Read More

  • Cointelegraph.com News - 7 July 2020, 2:15 pm

    Many are highly critical of the three highly popular models used widely by Bitcoin analysts — stock-to-flow, Hyperwaves, and Elliott Waves. There are several well-known Bitcoin price models and theories that are often highly debated and considered controversial. Models like stock-to-flow, Hyperwave and Elliot Wave typically predict large price movements in the medium- to long-term.Stock-to-flow: Prediction and criticismThe first and most widely acknowledged Bitcoin price model is stock-to-flow. The S2F model predicts the long-term trend of Bitcoin’s value based on its scarcity. Since Bitcoin has a fixed monetary supply, the biggest value proposition of the dominant cryptocurrency is its scarcity…Read More

  • Cointelegraph.com News - 7 July 2020, 1:50 pm

    The government of Monaco has passed a new bill introducing the establishment of a security token framework. Monaco is one of the most exceptional countries on the planet. Its unique mix of scenery and history creates a blend that attracts tourists from all over the world. Anyone who has ever visited falls swiftly in love with its charm.
Alongside its reputation for class, architecture and an outstanding grand prix circuit, Monaco has always seen itself as a “niche” financial-sector pioneer. Many people don’t realize that Monaco prides itself on its willingness to think “outside of the box” with respect to financial…Read More

  • Cointelegraph.com News - 7 July 2020, 1:00 pm

    Unstoppable Domains’ new chat protocol enables users to store data on their own servers through crypto wallets and P2P network integration. Unstoppable Domains, a Tim Draper-backed startup focused on blockchain-based uncensorable websites, has launched a decentralized chat protocol.The so-called “Unstoppable Chat”, or simply “dChat” aims to promote confidentiality through a peer-to-peer network and end-to-end encryption. Opposed to mainstream messengers like Facebook, dChat enables users to own, encrypt, and store their messages themselves on their own servers.Users need an Ethereum wallet private key to sign inIn order to allow users to fully control their messages, dChat integrates with a user’s cryptocurrency…Read More

  • Cointelegraph.com News - 7 July 2020, 12:48 pm

    Kevin Chou discussed how content creators could build their own virtual economies with blockchain technology. Kevin Chou, CEO and co-founder at blockchain ecosystem Rally, believes that blockchain technology could lead the charge toward a virtual economy in the web 3.0 era.Speaking at Unitize on July 6, Chou, who is also involved with the firms Kabam, Forte and Gen G, said that content platforms should move away from the old business model of web 2.0 that consists of the platforms taking a large portion of the revenue.Instead, companies should create a new and decentralized business model that favors influencers, creators, and…Read More

  • Cointelegraph.com News - 7 July 2020, 11:34 am

    Binance added support for the new currencies through a partnership with crypto asset and fiat money institutional custodian Etana Custody. Major cryptocurrency exchange Binance has added support for deposits in 15 additional fiat currencies to its platform.According to a July 7 announcement, Binance added support for the United Arab Emirates dirham, Australian dollar, Canadian dollar, Swiss franc, Czech koruna, euro, British pound, Hong Kong dollar, Danish krone, Hungarian forint, Mexican peso, Norwegian krone, New Zealand dollar, Polish złoty and Swedish krona.Binance added the new currencies through a partnership with crypto asset and fiat money institutional custodian Etana Custody.Binance CFO Wei…Read More

  • Cointelegraph.com News - 7 July 2020, 11:27 am

    One of India’s largest farmer producer organizations plans to use blockchain to help farmers receive higher pay. One of India’s largest farm producer organizations (FPO), Sahyadri Farmers Producer Co, is integrating blockchain into its business process.FPOs are member-based institutions of farmers that are the result of a government-led initiative.  The organizations help fars sell agricultural produce at the most advantageous prices. Local news outlet The Hindu Business Line reported that Sahyadri will use blockchain for its supply chains to increase efficiency and transparency in the traceability of food products.A win-win for customers and farmersThe founder of Sahyadri, Vivek Shinde, said that…Read More

  • Cointelegraph.com News - 7 July 2020, 10:56 am

    Bitmain is having a Schrödinger moment as official accounts make contradictory statements on payment details. The power struggle between the two co-founders of Bitmain, Micree Zhan and Jihan Wu, seems to have reached new heights as Zhan appears to be re-routing its financial flows to entities fully controlled by him.This is part of a public service announcement posted on Bitmain’s Weibo and WeChat pages, which notified customers that Bitmain’s payment credentials and email have changed. These appear to be pointing to accounts controlled by Zhan.However, according to BlockBeats reporting, Wu issued a statement claiming that these actions are due to…Read More

  • Cointelegraph.com News - 7 July 2020, 9:47 am

    Dogecoin has surged almost 20% this week, possibly due to a viral TikTok challenge that encourages users to get rich should the coin’s price hit $1. Crypto asset Dogecoin (DOGE) has leaped 18% in 24 hours and almost 20% over the past week. The price action is happening against the backdrop of a viral TikTok challenge that encourages users to pump the coin. The most popular video under the hashtag #DogecoinTiktokChallange has amassed nearly half a million views so far. It was posted five days ago by user jamezg97 and effectively describes what seems to be a pump scheme:”Let’s all get rich!…Read More

  • Bitcoin News - 7 July 2020, 5:25 am

    A South African high court has declared an alleged bitcoin scam mastermind, Willie Breedt, bankrupt. The court decision follows an application by one disgruntled investor, Simon Dix, a News24 report states. Willie Breedt is the CEO of the defunct Vaultage Solutions (VS), the company at the center of the alleged cryptocurrency scam. According to South […] The post South African Investors to Lose $13 Million as Bitcoin Scammer Declared Bankrupt appeared first on Bitcoin News.Read More

  • Bitcoin News - 7 July 2020, 3:22 am

    Crypto derivatives trading volumes plunged 36% to $393 billion in June, the lowest they have reached in 2020, according to a new report by Cryptocompare. The decline may be the result of a lull in investor interest in the instruments during the month in review. In May, derivatives – contracts signed by at least two […] The post Crypto Derivatives Volumes Crash 36% to $393 Billion in June, a Low for 2020 appeared first on Bitcoin News.Read More

  • Bitcoin News - 7 July 2020, 1:35 am

    On July 4, 2020, the Bitcoin Cash proponent Cain published an interview with the blockchain developer, Shammah Chancellor, about a new project called Stamp Chat. At its basic level, “Stamp is a prototype of a layer-2 private messaging and payment system on Bitcoin Cash. It implements stealth [plus] confidential transactions on top of Bitcoin Cash […] The post Developer Reveals Layer-Two Private Messaging and Payment System on Bitcoin Cash appeared first on Bitcoin News.Read More

  • Bitcoin News - 7 July 2020, 12:05 am

    A study report by Leadblock Partners, an appointed representative of Sapia Partners LLP, finds an accelerating growth of the European blockchain ecosystem. The findings of the Leadblock Partners study suggest European respondents have a funding need for €350 million for the next 18 months. The European Enterprise Blockchain start-up ecosystem is mainly composed of early-stage […] The post European Blockchain Ecosystem Needs €350 Million for the Next 18 Months appeared first on Bitcoin News.Read More

  • Bitcoin News - 6 July 2020, 9:25 pm

    The cryptocurrency data analytics and research company, Skew has warned that bitcoin could see a massive sell-off due to declining volatility. The data analytics firm says that bitcoin (BTC) realized volatility hit 20% over the past 10 days – it’s the lowest 10-day reading in nearly three years. “Last time we reached that level, we […] The post Bitcoin Volatility Hits Three-Year Low, Sparking Fears of Massive Sell-Off appeared first on Bitcoin News.Read More

  • Bitcoin News - 6 July 2020, 7:15 pm

    On July 1, 2020, the partner of Polynexus Capital, Andrew Steinwold, detailed that the sales of blockchain-powered non-fungible tokens (NFTs) are about to cross the $100 million mark. The popularity of NFTs has grown massive since 2017, as blockchain cards, collectibles, digital artwork, virtual land parcels, and extensible virtual game items have become all the […] The post The Tokenized Metaverse: Non-Fungible Token Sales to Surpass $100 Million appeared first on Bitcoin News.Read More