Month: April 2019

Institutions are Paying Attention to Bitcoin, Sentiment is Changing

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Anthony “Pomp” Pompliano is back at it again with his relentless attempts to convince institutions, high net-worth individuals, and the public at large to delve into cryptocurrencies, especially Bitcoin (BTC). As many on Crypto Twitter would say, Pomp it! Wealthy Families Listen In On Bitcoin Presentation  Thursday did see the cryptocurrency market hit by news that a “black swan” event is on the horizon, which some fear could crash BTC by thousands of dollars, but push to financialize this sector hasn’t slowed. Related Reading: Bitcoin (BTC) May Have Bottomed, But…

Crypto Divided Over Tether, Some “Unequivocally” Bullish On Bitcoin

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What many thought would never happen did on Thursday. Just days after Tether Limited, the company behind the USDT stablecoin, minted $300 million worth of its crypto asset, reports revealed that its operator, iFinex, may be on thin ice. It was claimed that prominent Bitcoin (BTC) exchange Bitfinex was unable to keep up with customer withdrawals in late-2018, leading to the exchange dipping into Tether’s pockets. Related Reading: Hacked Bitcoin Moves: 300 of Bitfinex Users’ BTC Moves for the First Time Some have seen this news as decidedly bearish for…

Crypto Divided Over Tether, Some “Unequivocally” Bullish On Bitcoin

boss

What many thought would never happen did on Thursday. Just days after Tether Limited, the company behind the USDT stablecoin, minted $300 million worth of its crypto asset, reports revealed that its operator, iFinex, may be on thin ice. It was claimed that prominent Bitcoin (BTC) exchange Bitfinex was unable to keep up with customer withdrawals in late-2018, leading to the exchange dipping into Tether’s pockets. Related Reading: Hacked Bitcoin Moves: 300 of Bitfinex Users’ BTC Moves for the First Time Some have seen this news as decidedly bearish for…

Binance CFO Rips Facebook’s Blockchain Under Megalomaniac Zuck

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By CCN.com: Facebook CEO Mark Zuckerberg is a megalomaniac who’s launching blockchain and cryptocurrency projects in order to squeeze crypto companies out of the dominance he eventually wants to assert over the space. That’s the opinion of Binance CFO Wei Zhou. Misguided bitcoin evangelists have been heaping praise on Facebook for experimenting with blockchain and for saying it might launch its own digital currency. They believe that having a massive multinational conglomerate like Facebook test out use cases for blockchain is lending legitimacy to the nascent industry. However, Zhou —…

Binance CFO Rips Facebook’s Blockchain Under Megalomaniac Zuck

boss

By CCN.com: Facebook CEO Mark Zuckerberg is a megalomaniac who’s launching blockchain and cryptocurrency projects in order to squeeze crypto companies out of the dominance he eventually wants to assert over the space. That’s the opinion of Binance CFO Wei Zhou. Misguided bitcoin evangelists have been heaping praise on Facebook for experimenting with blockchain and for saying it might launch its own digital currency. They believe that having a massive multinational conglomerate like Facebook test out use cases for blockchain is lending legitimacy to the nascent industry. However, Zhou —…

Tobacco Giant Philip Morris Estimates It Could Save Up to $20 Million by Using Blockchain

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International tobacco company Philip Morris is considering blockchain use in tracking tax stamps on cigarette boxes, the firm’s spokesperson confirmed to Cointelegraph on April 26. Philip Morris International is looking to implement emerging technologies such as blockchain in order to improve the efficiency, transparency and cost effectiveness of its business, the company’s representative said in an email to Cointelegraph. Specifically, Nitin Manoharan, Philip Morris’ global head of architecture and tech innovation, has recently estimated that Philip Morris alone could save up to $20 million by reducing tax stamp paperwork and…

Bitfinex Withdraws $89 Million From Cold Wallet as Users Signal Exodus Over Legal Debacle

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Cryptocurrency exchange Bitfinex has withdrawn funds worth almost $90 million from its cold wallet, blockchain data reported by cryptocurrency news outlet The Block confirmed on April 26. Bitfinex, which has the same owner as USD stablecoin Tether (USDT), has not publicly explained the reason for the withdrawals, which come as both companies face a fresh debacle over potentially missing funds. Over roughly the past 12 hours, Bitfinex has moved large amounts of bitcoin (BTC) and ether (ETH) from its wallets to unknown addresses, along with smaller amounts of other coins…

Samoa Investigates Church After OneCoin Defied Legal Ban to Sell Products to Investors

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A church in the Pacific nation of Samoa is at the center of scrutiny after ministers invited notorious cryptocurrency Ponzi scheme OneCoin to preach to its congregation, New Zealand-based media network Radio NZ reported on April 26. OneCoin, which is now all but defunct after the indictment of both its masterminds, raised hundreds of millions of dollars worldwide by luring investors with the promise of huge returns. Samoa’s central bank banned any activities involving the scheme in 2018, but representatives nonetheless succeeded in approaching the Samoa Worship Centre and pitched…

Blockchain Platform for Content Creators and Fans Sets Out Plan for Gaining Global Reach

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A blockchain-powered platform that allows content creators to reach its fans directly says it is broadening the choice of music, illustrations and webtoons it has on offer — improving both quality and quantity ahead of its launch. The debut of ContentsDeal has suffered from delays, but the company says its team is determined to get its offering online as soon as possible. Already, the platform says it has attracted an impressive ensemble of artists from South Korea and around the world — giving creatives a way of broadcasting their content…

Hamas’ Militant Wing Using Multiple BTC Wallet Addresses to Elude Authorities

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The militant arm of Hamas — the de facto ruling authority of the Gaza Strip in Palestine — is reportedly using increasingly complex measures to frustrate authorities’ attempts to track the flow of its cryptocurrency financing. The claim has been made by researchers from blockchain intelligence firm Elliptic, as reported by Reuters on April 26. As Cointelegraph previously reported this January, a spokesman for the group’s military wing had called upon supporters to make donations to the organization in bitcoin (BTC) as a strategy to combat financial isolation. Hamas’ financial…