Day: November 28, 2018

Google Searches for ‘Bitcoin’ Just Hit Their Highest Level Since April

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Google’s trend explorer reveals the weekly number of worldwide searches for the keyword “bitcoin” has reached levels not seen since the first week in April.  While the exact number of searches accrued so far this week is not clear, data from Google reveals ‘bitcoin’ searches in the past three days alone made up 17 percent of its all-time-high weekly search volume set from Dec. 17-23, 2017. At that time, the cryptocurrency was trading around its record high near $20,000, while at the time of writing, it is valued at $4,167…

US Treasury Sanctions Bitcoin Addresses, Two Iranian Men, in Ransomware Hacks

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For the first time ever, the U.S. Treasury Department announced that they have sanctioned two Bitcoin wallet addresses connected to a ransomware scheme associated with two Iranian men. Bitcoin Wallets Sanctioned in Unprecedented Case As first today, the U.S. Treasury Department’s Office of Foreign Assets Control claimed that the two men indicted in the sanctions, named Ali Khorashadizadeh and Mohammed Ghorbaniyan, aided ransomware schemes that exploited unsuspecting victims out of Bitcoin by converting the illicitly obtained cryptocurrency into Iran’s fiat currency by utilizing multiple exchanges and networks. Sigal Mandelker, Treasury…

Zero Fees and Interest-free Loans in Decentralized Credit Networks

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Blockchain can disrupt the traditional banking industry, enabling new business models, and making the traditional financial infrastructure more efficient. Decentralized financial networks are based on smart contracts and P2P services which replace banks as a trusted party. Systems and solutions like GEO Protocol have the potential to fully reshape the financial world by providing real-time transactions, ubiquity, and fairness. Money lending is the core principle of any functioning economy. Decentralized credit networks which have recently seen a rapid increase in popularity promise easy and global access to credit and loans…

US Treasury Dept. Takes Action Against Two Iranians Allegedly Involved in BTC Ransomware

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The U.S. Treasury Department has sanctioned two Iranians allegedly involved in Bitcoin (BTC) ransomware scheme SamSam, the Treasury reported in an official press release today, Nov. 28. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken action on Wednesday against two Iranian individuals, Ali Khorashadizadeh and Mohammad Ghorbaniyan, who are accused of exchanging Bitcoin into Iranian rials (IRR). This is also the first time that Bitcoin addresses have been publically attributed to “designated individuals” on the OFAC’s sanctions list. According to the report, SamSam ransomware…

All Pomp, No Ceremony–Finally Some Sense on the Bitcoin Price Prediction Turntable

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All Pomp, No Ceremony–Finally Some Sense on the Bitcoin Price Prediction Turntable November 28, 2018 by Paul de Havilland Anthony Pompliano, affectionately known as the Pomp, remains bullish on bitcoin despite the bearish market conditions. The founder and partner of Morgan Creek’s Digital Assets Division outlines three reasons for bitcoin’s inevitable return to its glory days. It was a welcome break from the ever spinning broken record of price predictions which, at best, are stabs in the dark. Also read: Bakkt Delays Launch As Crypto Markets Crash to New 2018 Lows…

Major US Crypto Exchange Coinbase Launches OTC Crypto Trading for Institutional Investors

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Major U.S. crypto exchange and wallet provider Coinbase has launched over-the-counter (OTC) trading for institutional customers, New York-based live streaming financial news network Cheddar reported yesterday, Nov. 27. Opposed to trading through a crypto exchange itself, over-the-counter crypto trading will allow institutional investors to conduct direct trades between each other. Christine Sandler, head of sales at Coinbase, commented that the move is taking place in conjunction with an increased demand for OTC crypto trading from institutional players, considering leveraging both exchange and OTC business as a “huge benefit” to their…

Tapatalk Will Reward its 300 Million Users with Kin Cryptocurrency

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Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Tapatalk, the mobile forum application with an aggregate registered user base of 300 million, has struck a deal with the Kin Foundation to reward its users with cryptocurrency for posting quality content on the platform. Announced on Wednesday, the partnership will see Tapatalk, whose platform hosts 200,000 forums based in 186 countries, seek to build engagement by rewarding users with Kin tokens for creating worthwhile content.…

SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval

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Regulation The chairman of the U.S. Securities and Exchange Commission (SEC) has outlined the key changes in cryptocurrency markets he needs to see before he is comfortable with a bitcoin ETF. While some solutions to the problems he mentioned have already been implemented, the chairman insists on seeing more improvements. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Key Upgrades Needed Jay Clayton At the Consensus Invest conference on Tuesday, SEC Chairman Jay Clayton explained what he needs to see before the SEC can consider approving its…

Bitcoin (BTC) Price Live: $400 Gain Sees BTC Rise Above $4,000

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Bitcoin is presently experiencing a mini-rally that has seen its price climb above the $4,000 price mark. This surge is indicative of what is currently a day of positive price movements from many coins in the market. Up by $400 and Counting The top-ranked cryptocurrency began the day trading at $3,800 but has since added $400 within a few short hours to go back above $4,000. As at press time, BTC appears set for an assault on the $4,500. However, the sheer volume of short positions opening at the moment…

Nigeria’s Union Bank Reportedly Warns Against Crypto Transactions

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The Union Bank of Nigeria has reportedly cautioned against transactions in cryptocurrencies, according to a letter allegedly sent to its users and published Nov. 26 by Nairaland, an online community targeted at Nigerians. Nairaland, the largest Nigerian online community with over 55 million Internet users, has published a letter reportedly from the Union Bank, which cited the Central Bank of Nigeria “advising that cryptocurrency is not a legal tender in Nigeria and has cautioned against transacting in them.” It also states: “In order to guarantee the security of our customers’…