Day: August 19, 2020

Goldman Sachs Is Hiring a New VP of Digital Assets

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Investment banking giant Goldman Sachs is hiring a new vice president in the Digital Assets team within its Global Markets Division in London. According to a recent job posting on the investment firm’s website, the new VP will work with the Digital Assets team in “defining and executing Goldman Sachs’ distributed ledger technology (DLT) and blockchain efforts firmwide, including any potential initiatives in the cryptocurrency space.” The role requires that any applicants be able to identify opportunities where blockchain and DLT digital assets can add value. The current global head…

REN Price Surges With 10,000 Bitcoin Tokenized on RenBTC

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Wrapped Bitcoin competitor, renBTC, has made massive gains over the past week as the project’s token’s price, and the total amount of Bitcoin tokenized using the protocol surges. Ren is in second place behind Wrapped Bitcoin, or wBTC, which is currently the most popular method of tokenizing Bitcoin for use with DeFi protocols. According to btconethereum.com there is currently just over 29,000 wBTC on Ethereum, with renBTC accounting for around 9.5K currently, after topping 10K on August 17. As DeFi continues to gain in popularity, more investors are looking to…

Fake Tokens Continue to Plague Uniswap

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Fake coins continue to plague decentralized exchange Uniswap, with prominent crypto projects associated with upcoming token sales reporting impersonators trading on the platform. On August 19, upcoming decentralized finance (DeFi) lending protocol Teller Finance tweeted that a fake Teller token and Uniswap pool had been created. “Teller Labs has not made any official announcements on any potential, planned, or upcoming token launches.” The highly anticipated NEAR Protocol token sale also attracted impersonation scams in the lead-up to its commencement last week, tweeting that any NEAR tokens not officially sanctioned: “The…

Bitcoin Takes a Bit Hit, But Price Action Suggests Limited Downsides

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Bitcoin price started a downside correction from the $12,500 resistance against the US Dollar. BTC is currently trading below $12,000, but there are many key supports on the downside. Bitcoin started a short-term downside correction and traded below the $12,000 support. The price is likely to find a strong support near $11,800 or $11,550. There is a major bullish trend line forming with support near $11,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might bounce back as long as it is above the…

Investors Tip $400M Into Failed DeFi ‘Yam’ Project Hoping for a Sequel

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Experimental DeFi protocol Yam Finance all but collapsed last week following the discovery of a fatal error, but the project has since gained $200 million in total value locked. According to a report from crypto analytics firm Messari, Yam is still the 7th largest Defi project according to total value locked (TVL). TVL is calculated by multiplying the total number of tokens held by a protocol by their value in USD. Messari reported Yam’s TVL has doubled from $200 million to $400 million since the protocol collapsed on Aug. 13,…

Big Brother Nigeria Housemates Participate in Bitcoin Quiz, Get $500 BTC as Reward

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Eighteen housemates of Nigeria’s version of Big Brother took part in a bitcoin quiz with each participant getting $500 worth of BTC as prize money. Big Brother Naija (BBN) reportedly agreed to this unusual step as part of moves to offer more than just entertainment to its audience. As part of BBN’s in-house quiz segment tasks last week, housemates took part in activities that tested their knowledge of cryptocurrencies. Housemates had to tell the audience some of the use cases for bitcoin such as airtime top-up and online payments. Additionally,…

Ashton Kutcher’s Terrible Artwork Lives on as NFT After Incineration

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An ‘artwork’ doodled by famed That 70s Show star Ashton Kutcher has been digitized and will be auctioned on the new non-fungible token (NFT) and digital art marketplace Cryptograph. The auction will raise funds for ecological conservation non-profits Global Wildlife Conservation and Oxygen Seven, with bidding set to commence on August 25 from 10 am PT and remain open for three days. After digitizing the drawing, Kutcher set the original on fire, with Cryptograph describing the incineration of the hastily scribbled piece as “turning it from the temporary physical world…

Here’s Why Bitcoin’s Hash Rate Has Dropped Around 10% In the Past Day

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Although Bitcoin is a decentralized technology, the mining of the cryptocurrency is somewhat centralized in China. Per some reports, around two-thirds of all mining machines are based in the country, concentrated in the river regions where electricity is cheap. Some argue that this centralization is something that shouldn’t be worried about; after all, China has been a stable to Bitcoin mining since the earliest days. But reports indicate that due to centralization, upwards of 10% of Bitcoin’s hash rate is going offline due to floods in China. Related Reading: Crypto Tidbits:…

North Korea’s ‘Bureau 121’ Has an Army of 6000 Hackers

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A report unveiled by the U.S. Army reveals that North Korea now has more than 6,000 hackers stationed in countries such as Belarus, China, India, Malaysia, Russia, among others. The operations of four sub divisions are overseen by Bureau 121, the cyber warfare guidance unit of the hermit nation. The report, named North Korean Tactics, suggests the hackers do not exclusively launch cyberattacks from North Korea itself, as the country lacks the IT infrastructure to deploy the massive campaigns. Financial crimes division The “financial crime division” called the Bluenoroff Group…

Bitcoin Investor Profitability Shows There’s Room for Major Upside

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Bitcoin’s mounting fundamental strength has been forming a compelling case that upside may be imminent for the cryptocurrency. This underlying strength can be seen on multiple fronts, with the cryptocurrency’s market health growing due to spikes in the asset’s liquidity as well as its investor sentiment. One on-chain indicator that examines the profitability of Bitcoin investors is now signaling that the benchmark digital asset may have significant room for growth in the near-term. The last time BTC’s price hit $12,000, this indicator’s value was significantly lower than it is presently,…