Day: January 4, 2020

Upbit’s Stolen Ethereum Is Moving, and It’s Bad News for ETH

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In November, Upbit, a popular Korean crypto asset exchange, lost $50 million worth of Ethereum (ETH) from the exchange hot wallet in a seeming hack. Details on the attack remain sparse — some think it was an inside job as the word “hack” was not mentioned and due to the timing of the loss of funds — though Upbit promised to reimburse all users affected with corporate funds. Related Reading: This Scary Fractal Suggests Bitcoin Price Is On Its Way to $3,000 Despite this, the stolen ETH is still out…

Upbit’s Stolen Ethereum Is Moving, and Its Bad News for ETH

boss

In November, Upbit, a popular Korean crypto asset exchange, lost $50 million worth of Ethereum (ETH) from the exchange hot wallet in a seeming hack. Details on the attack remain sparse — some think it was an inside job as the word “hack” was not mentioned and due to the timing of the loss of funds — though Upbit promised to reimburse all users affected with corporate funds. Related Reading: This Scary Fractal Suggests Bitcoin Price Is On Its Way to $3,000 Despite this, the stolen ETH is still out…

New SLP Telegram Bots Introduced to Bitcoin Cash Supporters

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The Bitcoin Cash community was recently introduced to two new Telegram bots that use Simple Ledger Protocol (SLP) tokens within the messenger application. There’s a new SLP Telegram-based dice bot that claims to provide provably fair gaming and a developer has also launched an SLP dividend Telegram bot. Also read: Ross Ulbricht Supporters Auction Collectibles After BTC Price Wager Goes Sour Spicecasa: The First SLP Telegram Dice Bot Cryptocurrency-fueled Telegram bots have become quite popular and there are a bunch of applications that allow people to tip fellow users during…

How Libra Failed, and How It Could Succeed in 2020

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This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Richie Hecker is an entrepreneur, and management consultant at Traction & Scale.  2019 was the year of Libra rising – an attempt led by Facebook to create a new form of digital currency and banking system. Transformative in potential and huge in aspirations, Libra was the seminal crypto event of 2019. Yet, like most of the ICOs that predated it, Libra is doomed to…

Here’s What Must Happen for $9K Bitcoin Price in the Coming Months

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Bitcoin (BTC) made a sudden jump of 8% yesterday and is currently hovering at around $7,300. As the price bounced from $6,900, a higher low is presenting itself on the chart, but does this mean that the bottom is there?  Crypto market daily performance. Source: Coin360 Bitcoin still stuck in sideways range and downtrend BTC USD 1-day chart. Source: TradingView The price of Bitcoin is still moving inside this downwards channel since last year’s high of $13,900. Remarkably, the price corrected towards the “Golden Pocket” Fibonacci area (0.618-0.65 level) and…

Professor Ben Noys: What Crypto Sees in Accelerationism

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This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Benjamin Noys, a professor at the University of Chichester, in the UK, invented the term “accelerationism” for a philosophy that says technological progress should be greatly sped up. In his book Malign Velocities: Accelerationism and Capitalism (Zero Books, 2014), Benjamin Noys defines accelerationism as the idea that capitalism should be pushed to ever dizzying speeds to bring about a new future. Markets, technological progress…

While We Wait for Laws, We Need Better Interpretations of Existing Regulation

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This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. William Mougayar is the author of “The Business Blockchain,” producer of the Token Summit, and a venture investor and advisor. When it comes to US cryptocurrency regulation, one school of thought says it’s worth waiting for Congressional action to deliver a friendlier regulatory environment, resulting in a re-energized blockchain market and underlying entrepreneurial activity. Another viewpoint, which I share, says Congress provides no magic…

SEC on ‘Unfounded Fishing Expedition’ — Telegram Lawyers Tell Judge

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Lawyers representing encrypted messaging app Telegram have requested a United States court throw out regulator demands for its bank accounts. In a letter to Judge P. Kevin Castel at the Daniel Patrick Moynihan United States Courthouse in New York on Jan. 3, Skadden, Arps, Slate, Meagher & Flom LLP described the request from the Securities and Exchange Commission (SEC) as an “unfounded fishing expedition.” Bank accounts have “no bearing” on case The SEC had demanded Telegram hand over details of how it spent the proceeds of its initial coin offering…

Thanks Boomer? Bitcoin-Friendly Generations to Inherit $70 Trillion

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Bitcoin (BTC) aware Millennials are set to inherit almost $70 trillion of value from the Baby Boomer generation by 2045. Data compiled and originally released in a November 2019 report by digital asset management firm Coinshares revealed those who grew up with Bitcoin will soon benefit from savings worth over three times the United States’ GDP. “Boomers” to pass on $68.4 trillion The findings continue to circulate on social media, where they have found traction with commentators who have become notoriously suspicious of so-called “Boomers.” As Bitcoin has gained popularity,…

Burger King Venezuela Starts Bitcoin Payments in First of 40 Stores

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Bitcoin (BTC) has come to Burger King in Venezuela as a new partnership opens up cryptocurrency payments at the fast-food chain. Confirmed in a tweet on Dec. 30, a single Burger King branch in the Sambil area of Caracas now accepts Bitcoin, along with altcoins Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Dash (DASH), as well as stablecoin Tether (USDT). Altcoins, Tether join BTC foray A total of 40 locations will follow suit in 2020, according to a blog post from Dash executives about the move.  Cryptobuyer is a…