Day: May 1, 2019

Tether Scandal Sparks Bitcoin Price Gains; Litecoin, Bitcoin Cash Up 4%-11%

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By CCN.com: The bitcoin price has increased from $5,173 to $5,297 on major regulated crypto exchanges including Coinbase in the past 24 hours, by 2.3 percent. Major crypto assets such as Litecoin and Bitcoin Cash spiked by 4 to 11 percent against the U.S. dollar. The unexpected recovery of the crypto market overnight comes after the office of the New York Attorney General filed a lawsuit against iFinex, alleging Bitfinex of mismanaging the cash reserves of stablecoin Tether. On April 30, as CCN reported, the general counsel of Tether stated…

AMD Earnings Surpass Target Amid Talk of Cryptocurrency Bull Market Return

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United States transnational IT firm Advanced Micro Devices (AMD) over delivered on Wall Street expectations for earnings, the company confirmed in a press release on April 30. AMD, which had previously seen volatility in its performance amid challenging 2018 market conditions, posted an adjusted share price of $0.06, 1 cent above the target. The knock-on effect among investors was immediately palpable, with the company’s share price spiking more than 5% in the hours after the data was published. “We delivered solid first quarter results with significant gross margin expansion as…

Bitcoin Transaction Volume Shows Signs of Bull Market as Quarterly Trend Reverses

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On-chain transactions on the bitcoin (BTC) network hit fresh highs not seen since 2017 in April, industry newsletter Diar noted on April 30, quoting blockchain data provider TokenAnalyst. Continuing a trend that had already started at the end of March, on-chain transaction volume hit a 14-month high in April. This, Diar notes, is similar to the figure from June 2018, when the price of bitcoin circled $7,000. Far from reflecting increased real-world usage, however, the driving cause of the uptick remains trading and speculative moves. “On-chain value of both Bitcoins…

Cloud Crypto MaxiMine Promises to Recompensate HitBTC Users’ Losses

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By CCN.com: Following our recent report that HitBTC users were getting the shaft when trying to withdraw their MXM tokens from Hong Kong-based crypto exchange HitBTC, which no longer allows trading of the token, MaxiMine has announced that they will rectify the lost coins. MaxiMine ‘takes responsibility’ MaxiMine writes that they are “taking responsibility” for the losses, and after receiving the tokens they sent to HitBTC back; they will fund the token swaps themselves. After active communication with HitBTC, it was agreed upon that MXM team will take responsibility for…

Cloud Crypto MaxiMine Promises to Recompensate HitBTC Users’ Losses

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By CCN.com: Following our recent report that HitBTC users were getting the shaft when trying to withdraw their MXM tokens from Hong Kong-based crypto exchange HitBTC, which no longer allows trading of the token, MaxiMine has announced that they will rectify the lost coins. MaxiMine ‘takes responsibility’ MaxiMine writes that they are “taking responsibility” for the losses, and after receiving the tokens they sent to HitBTC back; they will fund the token swaps themselves. After active communication with HitBTC, it was agreed upon that MXM team will take responsibility for…

Memo Is a Decentralized Social Network Built on Bitcoin Cash

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For a while now, the established social networks have been steadily cracking down on groups of users they find to be problematic, sending many people to look for alternatives where they can ensure their voice is heard. One emerging alternative platform is Memo, which is built on bitcoin cash and thus popular among BCH users. Also Read: How to Monetize Your Blog or Website With Bitcoin Games BCH-Powered Twitter Alternative Memo.cash is a decentralized social network powered by the Bitcoin Cash blockchain and which launched a year ago. It gives…

Former CFTC Regulator, Crypto Holder and ICO Endorser

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Last weekend, Bart Chilton, a former commissioner of the United States Commodity Futures Trading Commission (CFTC) and early advocate for cryptocurrency regulation, died at the age of 58. Apart from his work for the regulator, he was best known as the host of RT (formerly Russia Today) America’s financial show “Boom Bust” — in which he often covered cryptocurrency news — and as the author of the book “Ponzimonium: How Scam Artists Are Ripping Off America.” The news about Chilton’s death was broken by RT, his latest employer, on April…

Digging Deeper on Crypto Exchange Data and Transparency

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Clay Collins is CEO and co-founder at Nomics, an API-first cryptoasset data company delivering market data to institutional crypto investors and exchanges. The opinions expressed in this article are his own, and do not reflect CoinDesk’s position.​  The following article originally appeared in “Institutional Crypto” by CoinDesk, a free newsletter for the institutional market with news and views on crypto infrastructure delivered every Tuesday. Sign up here or at the link below.  On March 19th, Bitwise came out with a report to the U.S. Securities and Exchange Commission (SEC) that…

Craig Wright Faked an Email to Get Out of $10B Satoshi Nakamoto Lawsuit

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An expert witness has filed an affidavit in the Kleiman vs. Wright case, which alleges that Craig Wright stole billions of dollars worth of bitcoins from Dave Kleiman. Kleiman estate is seeking damages in the neighborhood of $10B. Recently, we had the honor to witness the emotional saga of two people fighting for their baby mercilessly through the media, court and public appearances. Desperate father wanted the baby just to take care of, and to prove – he is the real biological parent. No, we are not retelling you the…

How to Restore a Bitcoin Wallet in a Few Easy Steps

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Photo: Marco Verch / Flickr Has the thought of accidentally losing your Bitcoin ever cross your mind? As scary as it may be, it happens quite often. According to research from Chainalysis, an approximate 2.78 to 3.79 million Bitcoins have become inaccessible and are forever lost. This means that about 1 out of every 5 existing Bitcoins are as good as gone. Therefore, after you buy Bitcoin and store it, it is important to know how to restore your Bitcoin wallet. How to Avoid Losing Bitcoin In order to make…