Day: October 16, 2020

Breitling to Combat Fake Watches Using Ethereum-Based Digital Passports

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Swiss luxury watchmaker Breitling, known for its aviation chronometers, has enlisted help from Ethereum in fighting the fakers. In conjunction with the Paris-based digital identity firm Arianee, the Breitling Top Time (reference A23310121G1X1), which launched in March 2020, was the first of its kind to comes with a blockchain passport. The original Top Time, from the 1960s, features a cushion case typical of the styling at that time. However, the modern reinterpretation comes in a rounded 41 mm stainless-steel case paired with a brown nubuck strap. It houses the Breitling…

$22M in Bitcoin moves from Huobi to OKEx despite withdrawal freeze

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Large Bitcoin (BTC) transactions from Huobi cryptocurrency exchange are moving to OKEx despite the latter having temporarily suspended crypto withdrawals. According to data from crypto tracking service Whale Alert, a total of 1,995 BTC ($22.5 million) was sent from Huobi to OKEx shortly after OKEx officially announced it was suspending withdrawals on Oct. 16. The funds were transferred in two separate BTC transactions worth 998 BTC ($11.3 million) and 997 BTC ($11.3 million) at 3:51 a.m. EST and 06:22 a.m. EST, respectively. The transfers raise some questions as 1,995 BTC is…

OKEx FUD Benefits Rival UniSwap as UNI Jumps 10%

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UniSwap’s governance token UNI was among the biggest gainers on Friday as the rest of the cryptocurrency market succumbed to a bearish fundamental. The crypto index lost about $7 billion as trades panic-sold a portion of their holdings under the influence of OKEx. This Malta-based exchange landed itself in the middle of a criminal investigation. In retrospect, OKEx suspended all its withdrawal options indefinity, saying that one of its private keys holders is “currently cooperating with a public security bureau.” The exchange later said that the investigation was a result…

Almost 2,000 Trading Accounts Infiltrated

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In a move to protect customers from any threats, this week Robinhood encouraged users to implement such measures as two-factor authentication. Hackers have yet again hit Robinhood and compromised nearly 2,000 accounts in a recent hacking spree. The latest hack is one of those vicious episodes that the popular retail stock investment app Robinhood has continually faced. Last week, Robinhood stated that only “a limited number” of customers’ accounts had been struck by hackers breaching their personal email data outside of its platform. An unidentified individual who was aware of…

Changelly Launches New Marketplace for Buying Cryptocurrency

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Changelly, a premier non-custodial instant cryptocurrency exchange, has made its mission to lower the entry barrier and make crypto available to everyone. It is with that goal in mind that Changelly developed their fiat-to-crypto marketplace. While these days the crypto market is filled to the brim with a wide variety of different ways to buy crypto, Changelly’s marketplace presents a smooth and simple service for those who prefer to be able to compare offers from reliable exchange providers under one roof. Customers will be given an opportunity to choose offers…

OKEx founder reportedly under investigation as exchange suspends withdrawals

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The founder of major global cryptocurrency exchange OKEx has been reportedly questioned by authorities previous to OKEx suspending cryptocurrency withdrawals. OKEx founder Mingxing Xu, also known as Star Xu, has reportedly been questioned by the police, Chinese news agency Caixin reported on Oct. 16. According to the report, the exec was investigated “at least a week ago” and has also been absent from work for a while. When approached for comment on Xu’s participation in a police inquiry, OKEx told Cointelegraph that the exchange is no longer affiliated with OK…

Top DeFi Coin Aave’s LEND Dives 15% Despite Positive Fundamentals

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Aave’s LEND token, along with its new token AAVE, has dropped heavily in the past 24 hours despite stagnation in the Bitcoin and Etheruem price. The coin currently trades down 15% over the past day, underperforming BTC’s mild -0.5% performance. The cryptocurrency’s drop comes in spite of Aave having fundamentals that are stronger than ever. Not to mention, all of DeFi remains in a trend of growth as investors continue to scrap traditional platforms for these new blockchain-based applications that can sometimes provide a better user experience. Related Reading: Here’s…

‘Enormous wall of money’ will send Bitcoin to $1M in 2025 — Raoul Pal

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Bitcoin (BTC) hitting $1 million by 2025 is “about right,” Real Vision founder and CEO Raoul Pal has confirmed. In an interview with Stansberry Research last week, Pal, famous for his bullish stance on Bitcoin, said an “enormous wall of money” would flow into the cryptocurrency over the next few years. Pal: Bitcoin in line for “enormous” capital inflows “I think that’s about right, whether it’s five years, six years,” he said when asked about the $1 million target.  “We’re going to go through two of these halving cycles, and…

Top Chinese chemical firm uses blockchain to cut trade financing costs

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One of China’s largest chemical producers has launched a new Blockchain Warehouse Receipt Platform to help the industry combat the rising costs of operations and trade financing. An increased demand for more environmental and safety measures amid the pandemic has further driven costs up in China’s petrochemical trade. Small enterprises were already struggling to meet the credit conditions of financial lenders, as a lack of effective risk control and difficulties in securely tracking transaction processes of bulk commodities have led financial institutions to tighten lending on warehouse financing. Major players…