Day: August 2, 2018

CEO of Allegedly Compromised Wallet Bitfi Calls Teenage Hacker’s Claims ‘A Disgrace’

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Cryptocurrency hardware wallet manufacturer Bitfi called claims their wallet had in fact been hacked a “disgrace” in comments to Cointelegraph August 2, as controversy around the company’s security prowess builds. In a statement to Cointelegraph, Bitfi CEO Daniel Khesin said that it had “absolutely no evidence” the wallet was insecure: “As of now, we have no evidence that our device can be hacked and if someone succeeds in doing so then we will immediately put out a fix to all devices to address the vulnerability that was discovered and it…

Tickets Now On Sale for San Francisco’s First ‘Blockchain Music Festival’

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Tickets for the first music festival set to be powered by blockchain technology are now on sale. Scheduled for this fall, the Our Music Festival is launching its own virtual currency — the OMF token — at its inaugural event in San Francisco’s Civic Center Plaza. It will be the first musical entertainment experience to process booking fees on a live blockchain application. The festival plans to develop on the ethereum network and hopes the event will appeal to the city’s tech crowd. Pre-sale tickets start at $25 and can…

UK MP Resigns From Two Blockchain Roles Over ‘Secret’ ICO Pay Deal Controversy

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A high-profile UK Conservative Member of Parliament (MP) has resigned from two blockchain-related positions after media investigations into an allegedly undisclosed pay deal for his advisory role in a blockchain startup, FT Alphaville reported yesterday, August 1. Grant Shapps, the former chair of the Conservative party until his resignation in the throes of a 2015 bullying scandal, tendered a dual resignation this week from his roles as chair of governance for the blockchain property portal OpenBrix, as well as from his co-chairmanship of the UK All-Party Parliamentary Group (APPG) on…

Crypto Payment App Receives Grant From Queensland Gov

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TravelbyBit: In a move to try and boost tourism in Australia’s second-largest state – Queensland, the residing government has proposed it will back a local crypto payments startup using it’s new  ‘Advance Queensland Ignite Ideas’ grant. What’s Going On? On Wednesday, the Queensland government announced on its website, details of an $8.3 million AUD grant which will be given to 70 domestic companies looking to bring innovative business to the area. Business focusing on cryptocurrency especially seems to have piqued the government’s interest as it specifically mentioned Queensland-based startup TravelbyBit – a start-up…

BTCUSD Stabilizes Near Crucial Support Level

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Just close to a week of bearish action, the Bitcoin market is taking a break near a crucial support level. So far, we have seen the BTC/USD establishing its latest high at 8512-fiat, upon which the pair has undergone strong bearish correction action. We had found a weak support at 7814-fiat, but it was invalidated by the prevailing sentiment, following which we dropped further to the south to establish a new support level at 7459-fiat. At the time of this writing, we are sailing right above that level. Nevertheless, each…

Bitcoin Price Prepping for Breakout [But Must Hold Above $6,800]: Wall St. Trader

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One of Wall Street’s biggest crypto bulls said that the bitcoin price could be primed for a breakout, as long as it continues to hold near its present level at $7,500. Bart Smith, head of digital asset at Pennsylvania-based trading firm Susquehanna International Group, provided this analysis during an interview with CNBC, explaining that he is watching to see whether bitcoin continues to hit “higher highs” as it rebounds from the year-to-date low it set in early June. The key support level, he said, is $6,800. “The technicians I have…

Tron (TRX) Erases Upside Rally despite TVM Launch Hype

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At the beginning of this week, Justin Sun’s TRON was probably the only top cryptocurrency that recorded massive gains, in contrast to the rest of the bearish market. Strong fundamentals, including the Tron’s recent acquisition of BitTorrent and uTorrent, the launch of their Tron Virtual Machine (TVM), and a secret project (announced later as Project Atlas), combinedly helped TRX token rise as much as 10% against the USD. At the same time, leading cryptocurrencies, including Bitcoin and Ethereum, were stagnant. It seems the hype surrounding the Tron announcements is now wearing…

Decentralized E-Commerce Marketplace Vows to Offer Shopping Protection and Data Security

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A new blockchain-based e-commerce marketplace claims its centralized rivals are harming the sector by overcharging buyers and unfairly treating merchants — and plans to launch a new model, offering “complete shopping protection, data security and minimal commission.” ApolloX says it is hoping to challenge “monopolistic intermediaries” with an ecosystem consisting of three building blocks. The first component is a protocol which the company says makes it easy for e-retailers to build decentralized e-commerce applications on a blockchain. The second block is the independent web stores and marketplaces that will be…

Coinbase Adds British Pound Support, Customers to Buy/Sell Crypto via UK Banks

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Major U.S. crypto exchange and wallet Coinbase has started rolling out British pound (GBP) support, according to an official blog post August 1. The new feature will enable Coinbase customers with UK bank accounts to conduct faster transfers, letting customers buy and sell crypto for pounds within the same day. As Coinbase points out in their announcement, prior to adding GBP support, the process of buying or selling crypto for fiat took several days for the company’s UK customers, requiring them to first convert their crypto into euros, and then…

Shares in Novogratz’s Crypto Bank Galaxy Digital Plunge 20% in Toronto Exchange Debut

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Shares in Mike Novogratz’s crypto-focused merchant bank plunged 20 percent during their trading debut on a major Canadian stock exchange Wednesday, August 1, CNBC reported. After opening at $2.75 Canadian dollars ($2.11 USD) apiece for their first ever listing on Toronto’s TSX Venture Exchange, shares in Galaxy Digital LP fell 20 percent in the first half hour of trading. Shares were down further to $1.98 CAD ($1.52 USD) as of 1:48 p.m. ET August 1, according to CNBC. Galaxy Digital LP is trading as ‘Galaxy Digital Holdings Ltd’ under the…