Day: October 11, 2019

Singaporean Man Stole Identities and Cloud Computing Power to Mine Cryptocurrencies

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The US Justice Department has indicted a Singaporean man for impersonating various business personalities, faking the identity of video game developers and exploiting Google Cloud and Amazon Web Services (AWS) in order to mine cryptocurrencies including Bitcoin(BTC)trade, Litecoin (LTC)trade and Ethereum (ETH)trade. It is not the first time that crypto fraudsters have been impersonating various personalities and celebrities to manipulate innocent investors. However, it is the first of its kind case in which the scammer used the compromised identities to receive a massive amount of virtual computational power through cloud…

Draper-Backed Startup Launches .Crypto Domains on Ethereum

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A startup building domains on blockchains has just launched a .crypto name registry on ethereum. Unstoppable Domains – a firm backed in May to the tune of $4 million by Draper Associates and Boost VC  – said Friday that the new .crypto extension can be connected to users’ public cryptocurrency address, allowing third-parties to more easily send funds. Doing away with long, complex crypto address (for example, a bitcoin address will look something like “1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2”) in favor of a more memorable and less mistake-prone domain will “simplify cryptocurrency payments and lead to mainstream…

Malaysian Finance Ministry: Cryptocurrency Adoption Remains Low

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Malaysia’s finance ministry says both domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. In its Economic Outlook 2020 report released today, the ministry nonetheless noted that several prominent firms in key economic sectors had taken steps toward digital currency adoption, according to a business news report from Bernarama on Oct. 11. Malaysia’s crypto regulatory landscape to date “Although the impact of these projects has yet to be felt more widely, digital assets may well emerge as a part of the…

Bitcoin Drops as Investors See Optimistic Signs on Trade Deal

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Bitcoin struggled to maintain gains on Friday as investors processed the possibility of an optimistic trade deal and Brexit. The benchmark cryptocurrency was trading at $8,373.96, down 2.49 percent as of 11:03 UTC. Its downside sentiment came on the back of an unbiased Thursday, wherein its opening and closing price was almost the same. The rate also remained capped under technical barriers, represented by a long-term moving average indicator in the chart below. Meanwhile, sentiments arising from the rejection of yet another Bitcoin exchange-traded fund in the US kept potential buyers…

BiboxEurope Adds GBP Crypto Pairs Following Users’ Inputs

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BiboxEurope is keeping its promise to listen to the community’s needs and fulfilling them. And as a part of this initiative, the company has announced the introduction of a brand-new feature. Starting Monday, October 14, 2019, BiboxEurope will be extending support to two new trading pairs on its platform in the form of BTC/GBP and ETH/GBP. According to the company, the decision to add GBP support was taken following a poll conducted by BiboxEurope on Twitter. In this poll, the community members were asked to suggest the next fiat-cryptocurrency pair…

Tim Draper Bets on New .Crypto Domain to Replace Wallet Addresses

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Tim Draper-backed Unstoppable Domains has launched its new .crypto domain registry on the Ethereum blockchain. The registry allows users to connect any cryptocurrency address to their domain, enabling payments to be made using just the domain name, according to a press release published on Oct. 11. Alleviating the need for length wallet addresses To make a payment, one only needs to know the blockchain domain. This alleviates the need for copying and pasting unwieldy cryptocurrency wallet addresses. Unstoppable Domains believes that this simplifying of cryptocurrency payments will lead to more…

Our Transparency Has Opened Us Up to Attack

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Alluding to the spate of controversies that have beset the project, Ripple CEO, Brad Garlinghouse, has argued that Ripple’s “transparency has opened us up to attack.” “10 or 100x more transparent than anyone else in crypto” In an interview for the Off the Chain podcast hosted by Morgan Creek Digital Assets co-founder Anthony Pompliano on Oct. 9, Garlinghouse said there is a “bunch of misinformation” out there, but claimed that this is in part because Ripple is “ten or a hundred times more transparent than anyone in the crypto community.”…

Is Bitcoin a Safe Haven Like Gold? These Four Charts Say Not Yet

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Galen Moore is a member of the CoinDesk Research team. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Sign up for free here. Investors are beginning to have a clear sense why bitcoin exists: it’s digital gold, a narrative that has emerged clearly as other assets flounder, gasping for air in the muddy water of shallow memes. Ethereum has hopped from story to disjointed story; now it’s “money” (OK). Nobody knows what Ripple, er, XRP is. If bitcoin is digital…

CFTC Chairman Confirms That Just Like Bitcoin, Ethereum Is a Commodity

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The CFTC chairman confirmed that Ethereum qualifies to be a commodity and all the forked assets like the Ethereum Classic shall be subjected to similar regulatory considerations. According to the latest report from Yahoo Finance, the chairman of the United States Commodities and Futures Trading Commission called Ethereum (ETH) a commodity. Speaking at the Yahoo Finance Summit, CFTC chairperson Heath Tarbet said that the ETH token falls under the regulatory oversight of CFTC. He further added that in the near future, one cannot rule out the possibility of having Ethereum…

Bakkt Set to Beat CME in Bitcoin Options Race as BTC Futures Volume Explodes 800%

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After Bitcoin futures on the ICE Bakkt platform surged by almost 800% in a day, reports emerged that it is seeking to jump ahead of the CME group to release a Bitcoin options contract. The Intercontinental Exchange (ICE) in conjunction with their Bitcoin futures platform Bakkt is reportedly seeking to jump ahead of the CME group to release a Bitcoin options contract. This suggests that it wants to beat its CME rival that is considering a Q1 2020 launch for its Bitcoin option contract. Amsterdam-based Deribit already sells Bitcoin options…