Day: August 14, 2020

OKEx May Delist Ethereum Classic If It Doesn’t Upgrade Its Security

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ETC is facing delisting from OKEx in the wake of a 51% attack that cost the exchange $5.6 million. According to a report recently released by OKEx, the perpetrators registered five accounts between June 26 and July 9, 2020, subsequently depositing 68,230.02 ZEC (worth more than $5 million) on their platform. On July 31, the attackers exchanged their ZEC holdings for 807,260 ETC and withdrew it from the exchange.  The on-chain process of the initial 51% attack on Aug. 1. Source: community enthusiasts On the same day, the attackers began…

Price Analysis 8/14: BTC, ETH, XRP, LINK, BCH, BSV, LTC, ADA, BNB, CRO

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Traders have turned bullish on Ethereum again and the strong break above $400 could pull Bitcoin and other altcoins higher. Data from Grayscale Investments shows that the firm’s assets under management soared from about $1.9 billion at the end of 2019 to over $3.5 billion by the end of June 30, 2020.  The correction in the U.S. dollar (DXY) and the possibility of further weakness due to continued money printing by the U.S. Federal Reserve could be one of the main reasons for the surge in institutions investing in Bitcoin…

US Postal Service Files Blockchain Voting Patent Following Trump Cuts

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A new patent has been filed by the U.S. Postal Service, or USPS, which appears to use Blockchain technology to make mail-in voting a safe alternative to physical polling stations amid the COVID-19 pandemic. This news follows recent comments from President Donald Trump concerning the mail service’s funding as part of his fight against mail-in voting. “This developement releates to a voting system that also incorporates the use of cryptographic elements, such as blockchains, as are used with cryptographic currencies, to track and secure the vote by mail system,” said…

People Love Bitcoin And Tesla

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All eyes are on Bitcoin (BTC), crypto’s largest coin by market cap, and Tesla, a future-centric car company run by eccentric billionaire Elon Musk, thanks to a standout year for both assets. Tradable equity in Tesla, under the ticker TSLA, has captured more of the American public’s attention than any other investable asset, according to July figures from financial charting platform TradingView, posted on Aug. 13. Bitcoin held the spotlight as the second most popular asset charted on the platform.  TradingView also pointed out that Bitcoin interest is on the…

Ethereum Classic Community Divided Over Charles Hoskinson’s Proposed Treasury Protocol

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Charles Hoskinson presented his idea for a decentralized treasury protocol to the Ethereum Classic (ETC) community during a Discord call on August 13. Hoskinson, who is the founder of Cardano (ADA) and one of the co-founders of Ethereum, strongly believes that setting up an independent source of funding for development and innovation can ensure the prosperity of ETC. Hoskinson’s proposal to change ETC’s block reward allocation would mean that instead of rewards going entirely to the network’s miners, blocks would allocate a portion of every reward to a newly-created decentralized…

Bitcoin’s Bull Run Is Here—And History Shows 20MA is the Level to Buy BTC

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Bitcoin has broken out from downtrend resistance and appears to be poised for a new uptrend. Market conditions change dramatically when a switch from bear to bull occurs, and a “buy the dip” strategy is often the most effective. For investors and traders unsure of how to do that, history shows that one specific level is the best place to buy BTC. Bitcoin Bull Run Is Here: Time To Buy The Dip, Or Time To HODL? During the last major crypto bull run, the term “HODL” was coined to reflect…

All Bases Covered From Crypto to Stablecoins

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Despite regulators across the board giving a cold shoulder to Facebook’s ambitious plan to install a worldwide crypto-based payment system called Libra, the company’s enthusiasm for moving into the digital payments space is only mounting. Earlier this week, reports emerged that the social media hegemon has realigned its forces on this front, arranging all its payments-related subsidiaries into a single group called Facebook Financial. David Marcus, co-creator of Libra and head of the Novi (formerly Calibra) project, will take command of the new division while continuing to directly oversee the…

Walmart Adds Crypto Cashback Through Shopping Loyalty Platform StormX

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Gamified shopping loyalty platform StormX will now let its users earn cashback in cryptocurrencies when shopping at Walmart. According to an announcement shared with Cointelegraph on August 14, StormX users can now earn up to 4% cashback in crypto for purchases made at Walmart. Users who achieve a “Diamond” rank can earn up to 14%. StormX CEO Simon Yu said that he believes this Walmart partnership will bring new users to the service: “As the only crypto cashback program for Walmart worldwide, we are confident that users will take advantage…

Blockchain Bites: Ripple’s Rebuff, DeFi’s ‘Degens’ and China’s CBDC

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Both the U.S. and China are advancing on their central bank digital currency (CBDC) designs, there’s a new smart contract language for Bitcoin and the Department of Justice (DOJ) seized millions worth of crypto from addresses linked to terrorist organizations. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here.  Top shelf Digital DollarsThe U.S. Federal Reserve is actively investigating distributed ledger technologies for use in digitizing the dollar, CoinDesk regulatory reporter…

UK Crackdown Pulls Thousands of Crypto Scams Offline

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Over the past four months, the National Cyber Security Centre, or NCSC, removed over 300,000 URLs pertaining to fake celebrity-endorsed investment opportunities. More than a half of these sites belonged to fraudulent cryptocurrency investment schemes. Per an announcement published by the NCSC on August 14, an increasing number of these scams utilized fake endorsements from national celebrities, such as Ed Sheeran and Richard Branson. This raised red flags for authorities, prompting the launch of a massive retaliatory campaign. Ciaran Martin, CEO of the NCSC, commented: “These investment scams are a…