June 2020

Pentagon War Game Envisioned a Generation-Z Rebellion Funded by Bitcoin

June 8, 2020 boss

The world has been hit by cyberattacks from a shadowy organization, “Zbellion,” that funds itself through stealing fiat currencies from “the establishment” and converting it into bitcoin. Don’t panic, though. That scenario is the premise for a war game from the U.S. military, designed in 2018 to prepare troops for future conflicts fought on computers rather than out on the field. Reported by The Intercept, following a Freedom of Information request to the Pentagon, the headquarters of the Department of Defense, the 200-page document shows what the higher echelons of…

Tron Cryptocurrency Paints Golden Cross as Founder Announces Tron 4.0

June 8, 2020 boss

Tron’s TRX cryptocurrency was among the biggest gainers in the last 24 hours, rising by more than 5 percent. The upside move appeared as Justin Sun, the founder of Tron, announced a protocol upgrade that would introduce privacy features to its smart contracts. TRX’s rise also coincided with a bullish technical indicator known as “Golden Cross.” Tron’s native cryptocurrency rose by more than 5 percent on a 24-hour adjusted timeframe, supported by a combo of bullish technicals and fundamentals. Tron 4.0 The TRX/USD exchange rate hit $0.0186 on Monday, its…

CoinMarketCap Users Are Calling Out the Latest Exchange Rankings

June 8, 2020 boss

Following the latest CoinMarketCap update which introduced the “Confidence factor” to rank exchanges, users are taking issues at perceived injustices against popular platforms. A pseudonymous Twitter user going by the name of Cosmonaut called out CoinMarketCap for placing BitMEX, one of the most popular derivatives exchanges, all the way down at the 175th spot. Such a low position would seem uncharacteristic within CoinMarketCap’s new rankings, where web traffic is one of the primary factors. This update comes after a period of several weeks where exchanges were ranked exclusively by web…

Hong Kong Fintechs Embrace Blockchain and DLT

June 8, 2020 boss

Blockchain firms make up nearly 40% of all new Hong Kong financial technology (fintech) companies launched in 2019. Nearly 40% of new fintech firms to launch in Hong Kong over the past year are operating in the blockchain sector. According to Hong Kong’s Financial Services and Treasury Bureau (FSTB), 39% of new fintech firms, established in 2019 within the HKSAR, are operating with blockchain or some form of distributed ledger technology (DLT). Hong Kong’s treasury department reports that the increase of DLT and blockchain in the country’s new fintech firms…

Bitcoin Remains on Hunt for $10K as Holding Sentiment Gains Strength

June 8, 2020 boss

Investors remain confident in bitcoin’s long-term prospects despite the cryptocurrency’s struggle to pass $10,000, according to a key on-chain metric. The seven-day moving average of the total amount of bitcoin held in exchange addresses declined to 2,313,749 on Sunday – the lowest level since December 2018, according to data from blockchain intelligence firm Glassnode. Exchange balances have declined by nearly 13% over the last four months – a change indicative of a shift to a long-term holding strategy. “This could be related to more investors HODLing [holding], moving their funds…

ETH/USD Options Now Live on OKEx, EOS/USD to Follow on June 18

June 8, 2020 boss

The cryptocurrency spot and derivatives exchange giant, OKEx has announced the inclusion of two new options trading instruments. The first one, ETH/USD options went live on June 4, and it will soon be followed by EOS/USD options on June 18. These two offerings will now join the already popular BTC/USD options on OKEx, which has registered an average daily transaction volume of over $10 million. Along with the launch of ETH/USD options, OKEx has also taken steps to minimize the risk of clawback by donating 1000ETH to ETH/USD Options insurance…

Ransom Costs for Stolen Data Rose 200% From 2018 to 2019

June 8, 2020 boss

On average, the ransom demanded by cryptocurrency ransomware hackers increased by 200% from 2018 to 2019. According to a report published on June 5 by cybersecurity firm Crypsis Group, the average ransom demanded by cryptocurrency ransomware groups in 2019 reached $115,123. The median ransom, on the other hand, increased by 300% from 2018’s first quarter to the last quarter to 2019, reaching over $21,700. According to Crypsis Group, ransoms have grown as hackers increasingly target enterprises and select victims who are able to pay higher sums. Just yesterday, Cointelegraph reported…

Rising Hashrate Signals End of Bitcoin Capitulation; Price Eyeing $10K-Retest

June 8, 2020 boss

Bitcoin hashrate jumped 23 percent since May 26, signaling more miners are resuming operations on the cryptocurrency’s blockchain network. The rally also continued as Bitcoin’s mining difficulty dropped by over 9 percent on June 4. The rising hashrate indicates a slowdown in miner capitulation, which could assist in sending the bitcoin price higher towards $10,000. The Bitcoin hashrate rose to near 111.43 Exahash per second on Monday, its highest level in the last three weeks. The surge appeared as the cryptocurrency’s mining difficulty adjustment dropped by 9 percent on June…