Day: April 8, 2019

World Economic Forum Releases Report About Blockchain Cybersecurity

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The World Economic Forum (WEF) released a report about blockchain cybersecurity on April 5. The report points out that most data breaches do not result from the level of skill of the hackers, but instead happen because appropriate security measures often are not implemented. The WEF further claims that while attackers do compromise blockchains themselves, they much more often try to exploit or compromise their deployment. The WEF references the data breach of retail giant Target, which lead to both the CEO and chief information officer being fired, also mentioning…

US Startup Raises $3.5 Mln From Pantera, Others to Launch Decentralized Exchange on LN

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The United States-based startup Sparkswap has completed a successful seed funding round to create a decentralized exchange based on the Bitcoin (BTC) Lightning Network. A blog post revealed the development on Monday, April 8. According to Sparkswap’s founder Trey Griffith, the company raised $3.5 million from investors including Initialized Capital, Pantera Capital, Foundation Capital and Y Combinator. The startup intends to create a decentralized exchange that will be protected from hacks, while still processing transactions on blockchain. Sparkswap started testing its mainnet on Jan. 2, 2019, which is driven by…

US Startup Raises $3.5 from Pantera, Others to Launch Decentralized Exchange on LN

boss

The United States-based startup Sparkswap has completed a successful seed funding round to create a decentralized exchange based on the Bitcoin (BTC) Lightning Network. A blog post revealed the development on Monday, April 8. According to Sparkswap’s founder Trey Griffith, the company raised $3.5 million from investors including Initialized Capital, Pantera Capital, Foundation Capital and Y Combinator. The startup intends to create a decentralized exchange that will be protected from hacks, while still processing transactions on blockchain. Sparkswap started testing its mainnet on Jan. 2, 2019, which is driven by…

Bitcoin Moves Past $5,000 Mark as Mystery Whale(s) Cause Sudden Rally: BTCManager’s Week in Review April 8, 2019

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The price of bitcoin rallied by over 25 percent week-on-week thanks to a hefty price jump on April 2, 2019, which some believe was caused by algorithmic trading hedge funds while others think it was the work of a single buyer.  This week in crypto: 1. One buyer pushes BTC over $5k2. “Bitcoin” Google searches triple3. SEC publishes token guidance 4. Binance launching in Singapore5. More than 40 central banks are evaluating blockchain tech6. Bitcoin still not dead 🙂 Building the foundation weekly! — Pomp 🌪 (@APompliano) April 6, 2019…

Lithuanian Finance Ministry to Introduce Legal Amendments for Crypto-Related Firms

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The Republic of Lithuania’s Ministry of Finance plans to release legal amendments for operating crypto-related businesses in the country, Riga-based newspaper The Baltic Times reports on April 8. According to the report, the Lithuanian finance ministry wants to bring more legal certainty to the operation of companies relating to cryptocurrency exchanges, crypto wallet operators, as well as initial coin offerings (ICOs). By enforcing legal requirements in the industry, the authority reportedly seeks to ensure an efficient policy against money laundering and terrorism financing, as well as to guarantee a due…

Chinese Stablecoin Purchases Soar with Bitcoin Price

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Despite the official ban on cryptocurrency in China, investors have bought large amounts of stablecoins from over-the-counter services (OTC) in the last week, following the rise in crypto prices, as reported on April 7, 2019. Where There’s a Will… While countries like Malta that have been very welcoming to the crypto community and have put laws in place to regularize and support the growth of the industry, China has been on the opposite end, with a blanket ban being put on cryptocurrency altogether in the country. Despite this ban, however,…

HTC’s Blockchain Lead: Bitcoin is to Facebook Coin, JPM Coin as The Internet is to Intranets

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Token2049, a recent crypto conference in Hong Kong, saw some of the biggest names in Bitcoin and blockchain congregate. NewsBTC was lucky enough to snag Phil Chen, a world-renowned technologist and the head of HTC’s blockchain division, for a quick interview. We discussed his team’s phone, the Exodus One, and his thoughts on recent developments in the cryptocurrency space. What’s Up With HTC Exodus’ Blockchain-Friendly Phone? NewsBTC: Can you tell the NewsBTC audience about what HTC Exodus is doing? Phil: The HTC Exodus is one of the first blockchain phones.…

Tron Announces Sun Network May Launch Date, Reveals Key Phases for DApp Chain

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Blockchain-based decentralized application (DApp) platform Tron has revealed the expansion plan of its second layer scalability solution, the Sun Network. According to a release published Monday, April 8, the network’s testnet will launch in late May. The Sun Network expansion plan includes developing DApp sidechains and cross-chain infrastructure. The second layer protocol is expected to increase the overall capacity of Tron’s network, while simultaneously allowing DApps to run with extremely low energy consumption and high security.   During the first phase, which is scheduled to start on May 30, Tron…

Private Bank Kleinwort Hambros Launches Blockchain Exchange-Traded Note

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Private bank Kleinwort Hambros launched an exchange-traded note (ETN) made up of blockchain-related companies, financial news outlet Finextra reported on April 8. Kleinwort Hambros is owned by Societe Generale, acting as their private wealth management division in the United Kingdom. Societe Generale itself is a multinational investment bank headquartered in Paris, with total assets of around 1.3 trillion euros ($1.4 trillion) in 2018. Per the report, the new derivative is available for a minimum investment of £1,000 (equivalent to about $1,300) and has been listed in Luxemburg. The stocks reportedly…

New York Kraken Ex-Employee Sues Over Failure to Pay $900,000

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Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Kraken has repeatedly said that it has no operations in New York but a lawsuit by an ex-employee has disputed this putting the bitcoin exchange at risk of facing the…