Day: August 22, 2019

New York Pursues Tether Case – What’s It All About?

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New York Pursues Tether Case – What’s It All About? August 22, 2019 by Jeff Fawkes Cryptocurrency exchange Bitfinex and partner company iFinex are famous for creating allegedly suspicious assets like Tether, and have had some trouble fulfilling reporting and auditing promises over the years. Now New York Attorney General Letitia James has said she will unveil information that promises to shed light onto how Bitfinex and Tether operate and mint new coins. Also read: Bitcoin Price Hovering Round $10K, But Could Rally Again Subscribe to the Bitsonline YouTube channel for great videos…

Bitpoint Taiwan’s Sues Parent Exchange for Overbilling After July Hack

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  The Taiwan-based subsidiary of hacked crypto exchange Bitpoint Japan will file a $9.4 million damages suit as it claims to have been overbilled by the parent exchange. Overbilling is ‘clearly’ erroneous Bitpoint Taiwan reportedly found that total funds it collected from local clients have been short by 500 million yen ($4.7 million) due to overbilling by parent company Bitpoint Japan, according to a report by Japanese English-language publication The Mainichi on Aug. 22. Citing a prepared lawsuit, The Mainichi reported that the Taiwanese subsidiary discovered the shortage of funds…

Casa Unveiled Node Monitor Service to Leapfrog Bitcoin Network Health

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Photo: Casa / Medium A famous crypto startup firm recognized as Casa that offers primary management service, and Bitcoin node machine has launched a node monitor as well as accompanying reward program to develop Bitcoin network health. The firm revealed the latest innovation in an official website article on Aug. 21. Per the announcement, the node monitor known as Node Heartbeats depends on creating a brief relationship between the server of Casa plus, an internet synced and Tor-activated node owned by a user. The rewards program enables Casa node subscribers…

Flexa App Plans to Bring Bitcoin Payments to Other Apps by Staking Flexacoin

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Photo: Flexa / Medium After introducing crypto payments to its SPEDN app earlier in May 2019, merchants payment startup Flexa plans to bring this functionality to other apps as well. This is a massive step by Flexa to boost up crypto spending in the global economy. Flexa plans to implement this project by staking its native cryptocurrency Flexacoin (FXC). Flexa also says that by staking the FXC tokens, any application can provide merchant services. However, the most common use-case would be wallets. Thus, applications which can hold crypto for the…

Crypto Futures Exchange Deribit Launching Bulk Derivatives Trading

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Deribit claims it’s becoming the first crypto futures and options exchange to provide large-volume trades of bitcoin and ether derivatives. The move comes via a partnership with institutional messaging service Paradigm, according to a BNN Bloomberg report on Thursday. Deribit’s CEO, John Jansen, reportedly said the new service will offer block trades with a minimum of 40 bitcoin and 800 ether for options contracts linked to those cryptocurrencies. Ten top crypto trading firms have already signed up to use the service, with Paradigm founder Anand Gomes naming QCP Capital in the report. According to…

Top-Rated Crypto Exchanges Comprise 5% of Total Trading Volume: Report

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Untrusted exchanges still command the lion’s share of global cryptocurrency trading volumes, a CryptoCompare report published on Aug. 21 reveals. As of July, D-E rated low-quality exchanges represented 64% of trading volume —  a staggering $316 billion — whereas top-rated AA platforms accounted for just 5% or $31 billion. A-rated exchanges nonetheless increasing share Lower quality crypto trading volume looms large over the sector: yet there is a silver lining. In July, volume from the highest-rated trading platforms (AA and A) increased by 29% and 10% respectively, while E-rated exchanges…

Saudi Arabia Cautions About a Crypto Scam Supposedly Affiliated with the Kingdom

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Saudi Arabia’s Ministry of Finance took the time to warn the general public of an ongoing crypto scam spearheaded by a Singapore-based crypto company. The Ministry of Finance revealed that although the so called crypto firm claims to be affiliated with the Kingdom, its token and operation are neither recognized or backed by the Kingdom. The Singapore-based crypto firm is currently parading its digital coins, dubbed SmartRiyal and CryptoRiyal, as a new means of funding projects seamlessly in the Kingdom. With the official Saudi currency, Riyal, incorporated into the names,…

Two Thieves Caught on Tape Stealing Bitcoin ATM in the US

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A Bitcoin (BTC) automatic teller machine (ATM) has allegedly been stolen in the United States with the theft caught on tape.  Bitcoin ATM theft in the U.S. A Bitcoin ATM has reportedly been stolen by two alleged thieves in a mall situated in Washington DC on Aug. 3, according to a report published by Finnish news outlet Ilta Sanomat on Aug. 22. Moreover, the alleged two suspects have been filmed by a surveillance camera as they stole the machine. The two reportedly timed their actions to take place when the…

Deribit and Paradigm Launch Crypto Derivatives Block Trading

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Dutch crypto derivatives exchange Deribit launched a block trading solution in partnership with American trading communication platform Paradigm. World’s first block trading tool for crypto derivatives The institutional block trading solution is reportedly the first one of its kind offered by a crypto-derivatives exchange, the firms said in a press release shared with Cointelegraph on Aug. 22. The new block trading solution intends to enable institutions to directly negotiate crypto-derivative trades via chat on Paradigm, while agreed information is automatically directed to Deribit for execution and clearing.  What are block…

Why Bitcoin Rules in the ‘Insane’ World of Negative Interest Rates

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Central banks around the world are on a negative rate binge to further a compelling case for bitcoin.. | Source: Shutterstock By CCN Markets: In Denmark, some depositors are now paying the bank to look after their money. In Germany, the 30-year bond yield just went negative. A total $17 trillion of global bonds are now negative and it’s rising at a rate of a trillion a week. On the flip-side, Danish banks will pay you interest to take out a mortgage. Welcome to the bizarre new world of negative…