Day: March 30, 2019

$20 Million Bithumb Hack Exposes New Threat to Bitcoin Exchanges

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Bithumb, the largest bitcoin exchange in South Korea alongside Upbit, has been hacked for around $20 million. The company said that user funds stored in crypto cold storage wallets were not hacked, but corporate funds were moved. Bithumb Hack Likely an Inside Job Cold storage wallets refer to offline wallets that are not connected to the internet that major exchanges utilize to eliminate the vulnerability of user funds in potential security breaches. In a surprising turn of events, Bithumb disclosed that it believes the hack was an inside job and…

BitStamp, Bitso Ripple (XRP) Volumes Spike, Will Prices Follow Suit?

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Ripple prices up 1.3 percent Volumes surge as xRapid benefits flow Bitstamp, Bitso, and Coins.Ph XRP related volumes are surging. As a results, it could support Ripple (XRP) prices as xRapid is now commercially available. Now that prices are steady in a bullish arrangement, it is likely that prices will break higher towards 40 cents as our trade conditions come to live. Ripple Price Analysis Fundamentals We are in the early stages of a remittance revolution. Banks changing their time-tested systems in response to new technology seldom happen. They need…

Crypto Tidbits: DragonEx Hacked For Bitcoin, VanEck ETF Delayed, Facebook Blockchain Hiring Spree

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Another week, another Crypto Tidbits. In spite of the constant stream of bullish tweets from CNBC’s social media team, the crypto industry steadily chugged higher over the past week. Bitcoin surmounted $4,000, as a number of cryptocurrencies, like Cardano and EOS, posted staggering gains. Fundamentally, the industry was also strong. In fact, Flipside Crypto’s FCAS 25 index, which tracks the health of leading digital assets, neared its all-time high, as we reported previously. Maybe, just maybe, things might be on the up-and-up again. Related Reading: Crypto Tidbits: Square Looks To…

Tezos, Cardano, EOS, Binance Coin, Neo

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The crypto community will have to wait till the second half of May to know the fate of the Bitcoin ETF applications by VanEck and Bitwise, as the US SEC has again delayed its decision. Very few people expect the Bitcoin ETF to see the light of the day in 2019. Hence, even if it is not approved, the impact on crypto prices is likely to be limited. However, if the ETF is approved, it will be a pleasant surprise and will give a major boost to crypto prices. Currently,…

OmiseGo Denies $150 Million Acquisition, Slams Reporter

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The founder of Omise — the company behind the OmiseGo cryptocurrency — denied reports that his Ethereum-based payments platform was acquired for $150 million by Charoen Pokphand Group, Thailand’s largest private company. Omise Founder Demands Retraction Jun Hasegawa issued an angry denial on Twitter, where he accused the crypto news website The Block of pushing fake news. Hasegawa also threatened to take legal action if a correction/retraction isn’t issued. Hasegawa has not yet responded to CCN’s requests for comment. Omise founder Hasegawa Jun denied that his company was acquired. (Twitter)…

Bitcoin (BTC) Above $4,000 But Swedbank is now “restrictive” to Crypto

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Bitcoin price stable and bullish Swedbank says crypto tools of money laundering and terrorist financing Transaction volumes low despite recovering prices Ironically, Swedbank is now restrictive to cryptocurrency transactions because they want to prevent “money laundering and terrorist financing.” That’s after their publicized involvement in a $151 billion money laundering scandal. All in all, Bitcoin (BTC) prices are on up, trading above a main resistance trend line. Bitcoin Price Analysis Fundamentals What a weird way to deal with emerging issues. Well, barely days after firing their CEO, Birgitte Bonnesen, Swedbank…

PwC is Top Recruiter for Blockchain-Related Jobs on Indeed, Big 4 Auditing Firms Follow

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Big four auditing firm PricewaterhouseCoopers (PwC) is the top recruiter for blockchain-related jobs on recruitment platform Indeed, search results showed at press time on March 30. At press time, PwC is responsible for 40 blockchain-related job offers on the platform. Other big four auditing firms are apparently recruiting professionals in this niche on the platform: more precisely, Ernst & Young posted 17 such announcements, while Deloitte posted 10. This leaves KPMG as the only big four auditing firm not recruiting blockchain professionals on the platform. Tech giants IBM and Oracle posted…

Bitcoin Stays Near $4,100 as Top Cryptos See Mixed Movements

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Saturday, March 30 — the top 20 cryptocurrencies are reporting mixed movements on the day by press time, as Bitcoin (BTC) stays near $4,100. Market visualization courtesy of Coin360 Bitcoin has seen nearly no price movement on the day, trading at around $4,095 after having reported a mid-day high of $4,275, according to CoinMarketCap. Looking at its weekly chart, the current price is nearly one and three quarters of a percent lower than the value of BTC one week ago. Bitcoin 7-day price chart courtesy of CoinMarketCap Bakkt, the company…

Former IBM and Cisco Executive Tom Noonan to Join Bakkt as Chairman of Board

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Kelly Loeffler, the CEO of institutional trading platform Bakkt, announced that former cybersecurity expert at IBM, Cisco and Endgame Tom Noonan will become the chairman of its board of directors. The development was reported in a Medium post published on March 29. Per the announcement, the founder, chairman and CEO of the Intercontinental Exchange (ICE) and chairman of the New York Stock Exchange (NYSE) Jeff Sprecher is also joining the board of directors of the company. Alongside him, the post further welcomes Softbank managing partner Akshay Naheta and managing partner…

Bitcoin (BTC) Price Following Steady Uptrend, Dips Remain Attractive

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Bitcoin price climbed higher and broke the $4,100 resistance area against the US Dollar. The price corrected lower recently, but the $4,040 level acted as a strong support. There is a crucial ascending channel in place with support at $4,060 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains supported on the downside and it could bounce back above $4,100 in the near term. Bitcoin price is following a steady uptrend above $4,000 against the US Dollar. BTC corrected lower recently, but it remains…