Day: July 17, 2019

Libra’s So Terrifying It’s Making Congress Suddenly Embrace Bitcoin

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I never thought I’d see a high-ranking politician stand up and declare, “I like bitcoin.” But that’s exactly what just happened. House Minority Leader Kevin McCarthy practically sung bitcoin’s praises this week. How did we get here? How did we go from politicians ignoring and slamming bitcoin to embracing it?  The reason is Facebook. Lawmakers hate Facebook’s cryptocurrency Libra so much, bitcoin is actually starting to look good. As McCarthy explained, the decentralized blockchain’s open model is preferable to Facebook’s vice grip: “I want to see decentralization because Libra concerns…

Former motor industry worker ordered to pay £25,500 from proceeds of data theft

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A motor industry employee who was sentenced to six months in prison in November 2018 for accessing personal data without permission, has been ordered to pay a £25,500 confiscation order in a case brought by the Information Commissioner’s Office (ICO). Following a hearing at Wood Green Crown Court, London on 15 July, the judge determined Mustafa Kasim of Palmer’s Green benefited from thousands of pounds as a result of the offences. Kasim had previously worked for accident repair firm Nationwide Accident Repair Services (NARS) and accessed thousands of customer records…

Tor Project’s Bitcoin Crowdfunding Campaign Hits Goal in 25 Hrs

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Tor Project’s new Bitcoin (BTC)-based crowdfunding campaign has reached the softcap of $10,000 in 25 hours after the launch. The new crowdfunding program, known as BitcoinForTor, was launched on July 15 in collaboration with open-source payment processor BTCPay Server. By July 16, the project has raised the minimum amount expected to be secured, BTCPay announced. Having reached the softcap, Tor Project has not halted the fundraising campaign. It is inviting cryptocurrency users to continue donating with Bitcoin within the next 13 days, claiming that protecting privacy online “requires financial support…

Grayscale Investments Reaches ATH Volume Of $2.7B Under Management

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Just recently, Grayscale investments reported a record all-time high volume of assets under management. Grayscale’s assets under management now is worth approximately $2.7 billion. Yesterday, July 16, Grayscale shared their Digital Asset Investment report on Q2 2019. It shows that the investment firm has reached an all-time high volume of assets under management, worth $2.7 billion. An interesting fact is that the sum has nearly tripled since the last quarter. Grayscale has been able to show remarkable growth. Also, on the report, the company shared that the total investments into…

IOST Partners With East European Largest Crowfunding Platform Boomstarter

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IOST Foundation said they are proud to be an enabler of business opportunities for motivated entrepreneurs through this partnership with Boomstarter and are excited to play the part in helping Russian entrepreneurs fulfill their aspirations. The IOST Foundation announced they finally completed integration with Boomstarter, a crowdfunding platform that has successfully raised over $7.5 million for approx. 2,000 projects from close to 190,000 backers for creators, makers and developers in Eastern Europe. Boomstarter.Network has been operating in crowdfunding space since 2012. The fintech company now aims to use cryptocurrencies and…

Analyst Who Predicted Bitcoin Bottom Says It Won’t Find New Lows |

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Bitcoin has suffered significant losses after dropping by thousands of dollars to take its value below the $9,500 level. Market analysts believe that the criticism of Facebook’s cryptocurrency Libra by the US senators has unsettled investors. The sentiment, therefore, could push the bitcoin price further lower. Nevertheless, the cryptocurrency would not go anywhere near its previous bottom level of $3,120, according to noted analyst and trader FlibFlib. The Twitterati rubbished the frantic calls that predicted bitcoin rate at new lows. He said the cryptocurrency would maintain its price above the…

Lawmakers Finding It Hard to Trust Facebook

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The United States’ Senate Banking Committee raised a wave skepticism over Facebook’s crypto project Libra during the first day of testimony on July 16. The new hearing, called “Examining Facebook’s Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System” is scheduled for 10:00 AM ET, July 17. As day two is coming in the next few hours, Cointelegraph posts a short recap of yesterday’s hearings. The first day saw Senate Banking Committee attacked David Marcus, head of Facebook’s crypto wallet Calibra, raising major concerns over Libra,…

Hacked BITpoint Exchange to Refund 50,000 Affected Users in Crypto

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Cryptocurrency exchange BITPoint Japan has said that the roughly 50,000 users who lost funds in its recent hack will be reimbursed in cryptocurrency. The company told reporters in Tokyo on July 16 that customers will receive refunds of crypto on a 1:1 basis, The Asahi Shimbun reports Wednesday. The company’s latest estimate of losses from the security breach comes to around 3.02 billion yen ($28 million) – roughly $4.6 million less than originally thought, the report says. The thousands of exchange customers are said to have lost 2.06 billion yen ($20 million) in…

History and Use of the Crypto

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For the entirety of cryptocurrency’s short history, Venezuela has been seen to be among the most striking example of the need for the utility. The South American country has hosted escalating political tension for years, as skyrocketing hyperinflation, electricity blackouts and shortages of vital food and medicine intensified popular discontent. Venezuelan trade volume dominates P2P markets Venezuelan peer-to-peer (P2P) markets have long been a leader in terms of volume, in part owing to widespread geo-blocking that targets Venezuelan citizens on the part of cryptocurrency exchanges. Recently, Binance announced that as…

UK Government Takes on Dirty Money in the Crypto Market with New Economic Crime Plan

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From the year 2020 going forward, the United Kingdom government will attempt to make the UK very unsafe for criminal economic activities. This was disclosed in the newly-curated Economic Crime Plan that would take effect next year. Crypto, not surprisingly, is part of the plan as well. The move to partner up with both the private sector and law enforcement agencies was indeed essential as financial fraudulent acts in the UK are denting the reputation of the country as one of the safest destinations to live in and do business.…