Day: June 7, 2019

Vast Majority of DApps for Finance Built on Ethereum Blockchain

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Ethereum devs constitute the vast majority of Decentralized Finance (DeFi) application (DApp) creators, according to a report by Binance Research on June 6. Number of DApps per blockchain, courtesy of Binance Research According to the report, DeFi can be thought of as the following: “An ecosystem comprised of applications built on decentralized networks, permissionless blockchains, and peer-to-peer protocols for the facilitation of lending/borrowing or trading with financial instruments.” This ecosystem purports to offer a permissionless, decentralized network for users, who reportedly retain full custody of their crypto assets. According to…

Rumors Mount as Hacked Bitcoin (BTC) From 2016 Bitfinex Debacle Jump

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172.5 Suspicious Bitcoin On The Move Yesterday, the crypto community was in for a bit of a surprise. Bitcoin from the infamous 2016 hack of Bitfinex, which resulted in the theft of nearly 120,000 BTC, was suddenly moved. As spotted by cryptocurrency transaction tracker “Whale Alert”, which tracks large fund transfers, hacked funds, and key blockchain processes, five suspicious transactions were seen on the Bitcoin chain within a few minutes. This comes after there were a few small Bitcoin transactions from the presumed hacker’s address were registered earlier this year.…

Embattled CEO of $3.8B Crypto Ponzi Scheme OneCoin Pleads Not Guilty

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By CCN: Konstantin Ignatov, the CEO of the multi-billion-dollar “crypto” Ponzi scheme OneCoin, has pleaded not guilty to wire fraud. According to court documents, Ignatov entered the plea during a May 28 preliminary hearing via conference call. As CCN reported, Ignatov — a Bulgarian national — and his sister Ruja Ignatova were charged with wire fraud, securities fraud, and money laundering related to their sham cryptocurrency, OneCoin. The U.S. Department of Justice indicted the Ignatovs for scamming investors through a multi-national Ponzi scheme that made false promises of “guaranteed” profits.…

Bitcoin Trading Volume on Coinbase Hits Year High

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Bitcoin (BTC) trading volume on major cryptocurrency exchange Coinbase recently hit a high of 263,000 on May 12, a volume which has not been seen since February 4, 2018. Bitcoin most recently approached this number in November, with a peak of 259,000 on the 18th. Bitcoin 2-year volume chart. Source: Bitcoinity The Bitcoin price was similar between the two peaks at or above 263,000 volume, near $7,710 and $7,950 for May 12 and February 4, 2018 respectively, but these are larger than the similar peak on November 18 when BTC…

Canada: Vancouver Mayor Suggests Ban on Bitcoin ATMs

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The city of Vancouver, Canada, is considering banning bitcoin (BTC) automated teller machines (ATMs) due to money laundering issues, the Next Web reported on June 5. The mayor of Vancouver, Kennedy Stewart, has reportedly suggested a complete ban on bitcoin ATMs in connection with the increasing number of money laundering cases. A police report cited by the Next Web claim that criminals could purchase a bitcoin ATM for their own needs for a few thousand dollars, and then deposit their cash into that ATM “as many times as required” to…

What Cboe’s Looming Crypto Futures Exit Means for the Bitcoin Price

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By CCN: After nearly 18 months of operation, the Cboe bitcoin futures market is closing for good, or at least for the foreseeable future, with the expiration of its last bitcoin futures contract on June 16. Speaking to Bloomberg, Cboe spokeswoman Suzanne Cosgrove revealed that the company does not have plans to release a new product for cryptocurrency trading at this time, reaffirming the closure of its bitcoin futures market that was announced in March. The bitcoin price is up 115 percent year-to-date against the U.S. dollar. | Source: CoinMarketCap…

What Cboe’s Looming Crypto Futures Exit Means for the Bitcoin Price

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By CCN: After nearly 18 months of operation, the Cboe bitcoin futures market is closing for good, or at least for the foreseeable future, with the expiration of its last bitcoin futures contract on June 16. Speaking to Bloomberg, Cboe spokeswoman Suzanne Cosgrove revealed that the company does not have plans to release a new product for cryptocurrency trading at this time, reaffirming the closure of its bitcoin futures market that was announced in March. The bitcoin price is up 115 percent year-to-date against the U.S. dollar. | Source: CoinMarketCap…

Did Kik Just Place a Target on the Backs of its Form-D ICO Peers?

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By CCN: Kik might very well have good intentions by inviting a fight with the U.S. Securities and Exchange Commission. If the litigation, which the securities regulator has filed against the company, goes Kik’s way, it will set a precedent for other blockchain startups that have taken a similar approach to raise funds in an initial coin offering (ICO). But if the other shoe drops, Kik could find that it has placed a target on the backs of its peers that have pursued a similar fundraising path – an ICO…

Crypto Exchange With 2 Million Users Launches Apps for Apple and Android Devices

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A crypto exchange that claims it has amassed more than 2 million registered users in the space of four months has released new apps for Android and Apple smartphones. As well as supporting transactions in a multitude of cryptocurrencies, Bitsdaq says its app offers real-time updates on movements in the markets — and enables users to make withdrawals and deposits quickly. The software is currently available in English, simplified Chinese and traditional Chinese. With the crypto exchange market growing increasingly congested, Bitsdaq says many platforms have been suffering from poor levels…

The GateHub Hack | More Than 100 XRP Ledger Wallets Affected

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In the crypto space, it’s not uncommon to see a crypto wallet get hacked. It’s unfortunate, of course, but not unusual. And the latest crypto wallet hack came this week. On Thursday, GateHub said more than 100 customers have had their ledger wallets hacked, resulting in their funds being stolen. Here’s everything we know. GateHub Hack: What We Know On Thursday, June 6, GateHub published a “preliminary statement” on its blog. In the post, the crypto wallet said more than 100 customers have had funds on their XRP Ledger wallets…