Day: March 27, 2020

The Bitcoin Price Just Plunged Under $6,400 After Days of Stagnation

boss

Over the past ten minutes, Bitcoin has performed extremely poorly, falling from $6,700 to a price as low as $6,265 in an over 6% sell-off, per data from TradingView. As a result, at least $20 million worth of long positions on BitMEX were liquidated, while millions more probably bit the dust on other exchanges. This 6% crash comes after days of stagnation for the cryptocurrency market, epitomized by the fact that the cryptocurrency held between $6,500 and $7,000 for over three days, leading one trader to jokingly ‘capitulate’ because of…

Silk Road Founder Ross Ulbricht Spends Seventh Birthday in a Row in Jail

boss

Ross Ulbricht turns 36 years old today. This will be his seventh birthday in incarceration. Ulbricht is the convicted felon serving two life sentences plus 40 years for his role in creating the Silk Road, the online contraband market notorious for its associations with cryptocurrency. Ulbricht says Silk Road was initially envisioned as a libertarian paradise, but it eventually went sideways: “Silk Road was supposed to be about giving people the freedom to make their own choices, to pursue their own happiness, however they individually saw fit. What it turned into…

Telegram Seeks Clarity On The Preliminary Injunction Against TON

boss

How far can a preliminary injunction from an American court reach? The answer to that question is everything for Telegram’s embattled TON blockchain project. TON has been under legal fire since shortly after the SEC became aware of its token sale. The drama is ongoing as recently as this week, when a federal district court judge issued a preliminary injunction against Telegram for its ten-figure initial coin offering. The allegation is that Telegram’s GRAM token, operating on the TON blockchain, was illegally being sold as a security, and the judge…

Russian Police Take Down an Illegal Bitcoin Mining Farm

boss

Russian police have caught bitcoin miners who were stealing $200,000 worth of electricity each month in their efforts to mine cryptocurrency. According to a statement released by the Russian Interior Ministry, a Saint Petersburg suspect has been arrested, along with nine alleged accomplices. The criminals managed to install sophisticated infrastructure that connects mining equipment to the country’s electricity supply at eight different locations, the Interior Ministry stated. Seized elements during the raids In total, the Russian National Guard seized 1,500 pieces of mining equipment, 2 million rubles, smartphones that contained…

Bitcoin Ascends on Twitter While Major Altcoins Hit Multi-Year Lows

boss

Major altcoins have seen their Twitter presence greatly reduced in the wake of the recent cryptocurrency market crash. According to data from Bitinfocharts, major altcoins such as Ethereum, Litecoin, and XRP now find their Twitter mentions nearing two and even three-year lows. Meanwhile, Bitcoin’s Twitter presence doubled in the first three months of 2020, though its tweet count remains a long way off of its 2017 all-time high. XRP tweets hit 21 month low Earlier this week, on March 21st, tweets bearing the hashtag #XRP numbered 2,542. That’s a 60%…

MakerDAO Toes the Line Between Life and Death

boss

The crypto industry is young, and in emerging tech, a handful of companies often lead the charge. For those holding equity in these companies, this is generally considered something to be encouraged. For everyone else, it is not. The recent rise of decentralized finance has been no different, and the company holding the torch is MakerDAO. When market conditions are favorable, these powerful companies can be trailblazers for the industry. However, if they face an existential threat, they can drag the entire sector down with them. To say that the…

FBI Apprehends & Charges Russian Hacker, Closes Down Deer.io Platform

boss

The Federal Bureau of Investigation (FBI) has charged a Russian hacker for stealing private information, and has shut down his platform — Deer.io, which moved funds via crypto assets. The FBI shut down the Deer platform on March 24, as per a statement from the U.S. Department of Justice (DoJ). The platform’s “suspected administrator – alleged Russian hacker Kirill Victorovich Firsov – was arrested and charged with crimes related to the hacking of U.S. companies for customers’ personal information,” the DoJ noted. The FBI detained the alleged infiltrator weeks ago…

NOvid 2020: American Scientist Pushes for Blockchain to Secure Mobile Citizen Data and Build Payment Platform For Addressing Pandemic And Economic Crisis

boss

Sharing is caring! by John Henry Clippinger, It takes a blunt existential crisis to redress systemic societal and economic failings. We are at such a moment with the epic storm of global health and economic crisis compounded by inept and regressive leadership. These failures will not be redressed by traditional means.  These challenges also present a singular opportunity to catalyze a new ecological, social and economic contract for the 21st century.  As data are the new currency of the digital realm, there is the real prospect of resetting foundational rights…

Block.one Invest $150 Million Into Voice, But Privacy Concerns Linger

boss

Block.one — the company behind EOSIO (EOS), has injected $150 million into its controversial blockchain-based social media network, Voice. Announced on March 26, the investment comprises $50 million in intellectual property assets and $100 million. The injection is intended to give Voice the resources needed to operate independently from Block.One. Voice is in closed beta Voice is currently in closed beta testing and is exclusively available to U.S. users. The platform is built on top of the EOSIO protocol. Users must verify their identity to use the platform, after which…

No Evidence of Crypto-Related Charge in Maduro Drug Cases

boss

Several Venezuelan leaders recently came under fire for alleged criminal acts, although, contrary to initial impressions, the situation did not directly involve cryptocurrency usage. “Maduro and his co-defendants are not alleged to have been involved with crypto, directly,” Ashok Ayyar, counsel at Experience Legal, told Cointelegraph. A number of Venezuelan officials, including former president Maduro, faced a slew of charges from U.S. governing bodies, according to a March 26 statement from the U.S. Department of Justice (DoJ). Despite the press release announcing the charges touting the Homeland Security Investigations’ ability…