Day: January 17, 2019

QuadrigaCX Crypto Exchange Users Still Can’t Get Their Money Out

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QuadrigaCX customers are complaining they still can’t get their money out more than a month after the cryptocurrency exchange won a court dispute that had held up $19 million of funds. While that would be worrisome enough, users’ concerns were compounded by the company’s announcement Monday that its CEO and founder, Gerald Cotten, had died more than a month earlier. In a statement attributed to Jennifer Robertson, Cotten’s wife, the exchange said he died on December 9 from complications arising from Crohn’s disease while traveling in India. The same statement also…

QuadrigaCX Crypto Exchange Users Still Can’t Get Their Money Out

boss

QuadrigaCX customers are complaining they still can’t get their money out more than a month after the cryptocurrency exchange won a court dispute that had held up $19 million of funds. While that would be worrisome enough, users’ concerns were compounded by the company’s announcement Monday that its CEO and founder, Gerald Cotten, had died more than a month earlier. In a statement attributed to Jennifer Robertson, Cotten’s wife, the exchange said he died on December 9 from complications arising from Crohn’s disease while traveling in India. The same statement also…

The Thai Cryptocurrency Regulation Example

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Not so long ago, investors in digital currencies acted in their little corner through nebulous trading platforms with the risk of piracy or even theft. 2017 and a $ 20,000 Bitcoin course went through there and the authorities understood the need to observe the sector more closely . In Thailand, platforms must be accredited and not all of them. Thailand regulates cryptocurrencies Unlike others, the Thai government has not bowed its head in 2018 and has been very active in regulating the Cryptocurrency domain. The year had begun badly. In February, the Central Bank issued a…

Crypto Investor Names Primary Suspect in $24 Million SIM Swapping Case

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A 21-year old American has been accused of stealing millions of dollars in crypto via a method known as SIM swapping, according to a press release shared with Cointelegraph Jan. 17. As reported, plaintiff Michael Terpin — a long-time blockchain and crypto investor — first filed a lawsuit against AT&T last August, accusing the firm of negligence that allegedly allowed the suspect to gain control over Terpin’s phone number and steal almost $24 million worth of crypto. SIM-swapping — also known as a “port-out scam” — involves the theft of…

Wyoming Introduces Bill Permitting Tokenization of Stocks

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A bill allowing corporations to issue blockchain-based tokens that represent stocks was introduced in Wyoming on Jan. 16, according to the official state legislature site. House Bill 185 is sponsored by Representatives Olsen, Brown, Hunt, Lindholm, Western and Zwonitzer and Senators Driskill and Rothfuss. If passed, the bill will become effective on July 1, 2019. The current draft of the bill states: “The articles of incorporation or bylaws of a corporation may specify that all or a portion of the shares of the corporation may be represented by share certificates…

Wanchain Joins Telefónica, One of the World’s Largest Telephone Operators, Developing a Mobile Blockchain Future

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Blockchain Phone. Image from Shutterstock. Wanchain Symbol Eleven Paths, a subsidiary of Telefónica, has tapped Wanchain in an effort to build a secure blockchain platform for the mobile generation. Rivetz is a security company which works extensively in the blockchain space and also plays an important role in the new effort. Wanchain is an Ethereum fork which specializes in cross-chain compatibility. With Wanchain, users can hold both Bitcoin and Ethereum. In an exclusive talk with Wanchain’s Dan Reecer, CCN learned that its interchain operability is what sets Wanchain apart in…

New Platform Shows Ads Only On-Demand and Promises to Pay Crypto for Views

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A company intends to change the ways of traditional advertising by creating a platform called WeBuy. The idea is to allow what the company calls “buyers” to decide when and how the sellers of different products can reach them on-demand. Shopper in the center   WeBuy believes that annoying online ads are one of the problems of the modern advertising market. Instead of increasing the interest of potential buyers, they get the opposite effect. The company believes its product can change the way buyers and sellers currently communicate by putting…

Bitcoin, Ether, and XRP Weekly Market Update January 17, 2019

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The total crypto market cap is down more than $7 billion for the last seven days as all of the top ten currencies registered double-digit losses. BTC-USD Bitcoin lost nine percent on January 10, 2019, and dropped to $3,712 in its fourth consecutive day in the red. The BTC-USD pair did not change in value on January 11 and 12 and closed sessions with almost no change, staying within the $3,670 to $3,770 zone. On January 13, the price suffered yet another blow and fell below $3,600, to $3,580 ending…

Circle Releases Third Audit Report of Stablecoin USDC’s Dollar Reserves

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Cryptocurrency finance company Circle has released the third audit attestation of the reserves of its fiat-backed stablecoin, USD Coin (USDC), according to an official statement Jan. 16. The third-party audit of Circle’s United States dollar reserves was issued by independent accounting firm, Grant Thornton LLP. According to the report, as of Dec. 31, 2018 at 11:59 p.m. UTC, 251,211,148 USDC tokens were issued and outstanding, while the firm holds $251,211,209 in custody accounts, a $61 surplus in USD reserves. Circle’s statement concludes: “As of the Report Date and Time, the…

Ford, IBM, LG Partner to Track Your Smartphone & Car Batteries on a Blockchain

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Car charger image from Shutterstock South Korean battery maker LG Chem, tech giant IBM, auto manufacturer Ford Motor and others have partnered in a blockchain project aimed at infusing transparency in the global mineral supply chain, impacting batteries used in smartphones and electric vehiceles. Specifically, the project will track cobalt mined in the Democratic Republic Congo. Cobalt is used in lithium-ion batteries and its demand and price has skyrocketed with the growth of electric vehicle and mobile device sectors. It is estimated that DR Congo produces around two-thirds of the…