Day: June 4, 2019

Tron CEO Justin Sun Pays $4.5 Million for the Right to Dine with Warren Buffet

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Photo: Pixabay The Oracle of Omaha, Warren Buffet, can afford to become a connoisseur of fine food. Although the Berkshire Hathaway founder ranks among the wealthiest people worldwide, he never eats or lives like a king. He is famous to reach the age of 88 on a diet of Coca Cola and Utz potato sticks for breakfast. Buffet also enjoys Dairy Queen Sundaes and fast food from McDonald’s. What would Buffet think of someone on May 31 bidding to pay more than $4.5 million to have lunch with him? On…

Tokenization Software Firm AlphaPoint Rehauls Management

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Tokenization software firm AlphaPoint rehauled its management, financial news outlet Finextra reports on June 3. Per the report, the current chief technology officer of the company, Joe Ventura, will become the chief information officer, while global head of trading Kapil Rathi will be the new chief operating officer. Both will be reporting to Igor Telyatnikov, the former president who has now been newly appointed as the CEO. Telyatnikov is reportedly an AlphaPoint founding member who held multiple senior leadership positions in the firm, including chief operating officer. Finextra notes that…

Apple to Unveil ‘CryptoKit’ Cryptographic Developer Package at Upcoming Conference

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Apple will target cryptographic developer tools at this year’s Worldwide Developers Conference (WWDC) 2019, the company revealed in the event program for June 5. During a session scheduled for Wednesday at the ongoing event, titled “Cryptography and your Apps,” Apple will unveil a new tool dubbed “CryptoKit,” which will debut as an update in iOS 13. CryptoKit will focus primarily on developers, allowing them to build in more security functionality for apps with better support. “System frameworks encrypt both data at rest and data in transit in a transparent way…

I Would Not Long or Short Bitcoin, Says Billionaire Stablecoin Investor Druckenmiller

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American billionaire Stanley Druckenmiller has doubled down on his distrust of bitcoin (BTC), Bloomberg reported on June 4, quoting a recent interview. Speaking to Scott Bessent, founder of Key Square Capital Management at The Economic Club of New York, Druckenmiller said he would still not be interested in placing any of his $4.4 billion worth into the cryptocurrency. “I don’t think I’m a neanderthal, which is what I’ve been called when I’ve said I didn’t want to own Bitcoin,” he summarized. Druckenmiller added he would neither long nor short bitcoin…

Indian Bitconnect Promoter on the Run After Third Crypto Scam

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By CCN: Another cryptocurrency scam, same fraudster. Police in India’s city of Surat have implicated infamous BitConnect promoter Divyesh Darji in yet another cryptocurrency scam. According to The Times of India, Darji was involved in promoting a cryptocurrency known as Regal Coin to investors by promising them astronomical returns. Darji who was arrested last year in August for his role in the BitConnect scam has been facing trial. However, he is currently on the run after being released on bail. Per India’s Crime Investigation Department (CID), Darji promised investors returns…

Bitcoin Drops Below $8K, Stocks See Volatility Amid Global Trade Tensions

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Tuesday, June 4 —  virtually all of the top cryptocurrencies are today seeing deep red in a market-wide correction, with bitcoin (BTC) dropping back below the $8,000 price point, as Coin360 data shows. Market visualization courtesy of Coin360 Having bullishly broken through the psychological price point of $9,000 at the end of May, bitcoin has gradually corrected downwards in subsequent days. To press time, the top coin is trading at $7,950 — roughly 6.7% down on the day and losing its hold on the $8,000 mark, according to CoinMarketCap data.…

G20 Side Event – International Seminar on Personal Data

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Original script may differ from delivered version. A special thank you to our hosts the Personal Information Protection Commission. I understand there are several ways to say thank you in Japanese, and given the hospitality I’ve enjoyed since I’ve been here I can understand why. So Doumo Arigatou. I’m speaking to you today as a Canadian living in the UK, working as the UK’s data protection commissioner, and as a consumer of the digital services of many international businesses. But I am also addressing you as chair of the International…

Crypto Exchange Bits Of Gold Wins Supreme Court Battle Over Bank Block

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Cryptocurrency exchange Bits of Gold has won a notable legal victory over an Israeli bank in its bid to keep access to banking services. On Monday, the Israeli Supreme Court ordered Bank Leumi to allow the exchange ongoing access its services, according to a report by Finance Magnates. Bank Leumi had earlier moved to bar Bits of Gold after the bank classified cryptocurrency firms as gambling companies. The Supreme Court had made a temporary injunction on the matter back in February, allowing the firm to keep using Bank Leumi’s services…

Monero Mining Unprofitable, Open to 51% Attack Post-Hard Fork: Research

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By CCN: Monero recently hard-forked once again to stave off ASIC miners, who take over the network after a time and are disliked by the Monero community. Monero would prefer to be a CPU and at-most GPU coin, which is mined by the people who use it. Binance discusses Monero’s moves in a new report released over the weekend. Binance noted that there were some negative consequences associated with permanently kicking ASIC miners off the network. Monero transaction fees are down but there are other problems abound, Binance research has…

Bitcoin Price Plunges 14% in Violent Spiral to $7,700 — Here’s Why

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By CCN: In the past several hours, the bitcoin price has dropped from around $8,500 to $7,732, by nearly 14% against the U.S. dollar. The bitcoin price has dropped by nearly 14 percent in the past 24 hours against the U.S. dollar (source: coinmarketcap.com) A pullback for bitcoin was generally anticipated by technical analysts following its 130 percent year-to-date gain. Traders were taken aback by the magnitude of the drop of the dominant crypto asset in a short time frame and if the asset does not demonstrate a speedy recovery,…