UK Advertising Watchdog Upholds Complaints Against BitMEX Bitcoin Promotion

The U.K. Advertising Standards Authority (ASA) has upheld complaints over a bitcoin ad placed by crypto derivatives exchange BitMEX (HDR Global Trading). The advertising regulator published its decision on Wednesday, saying that it supported the four complaints against the ad that had claimed it “failed to illustrate the risk of the investment,” “exaggerated the return on the investment” and “challenged whether it was misleading.” The ad, placed on Jan. 3, 2019, purportedly to celebrate the tenth anniversary of mining of the first block of bitcoin on the same date in…

Why Zcash Suddenly Became the Crypto Market’s Black Sheep

Privacy coin Zcash has fallen by nealry 15 percent this week, marking the second-largest decline among the leading 30 crypto tokens. | Source: Shutterstock By CCN Markets: The privacy-focused cryptocurrency Zcash has fallen by nearly 15 percent this week as Bitcoin’s dominance approaches 70 percent. According to CoinMarketCap, Zcash was trading at slightly over $66 seven days ago but is now just under $56, a decline of approximately 15 percent that forced its market cap below $400 million. Zcash has declined by nearly 15% in the last seven days |…

Coinbase Backs $4.3 Million Raise for New Crypto Derivatives Exchange

A new cryptocurrency derivatives exchange that hasn’t yet launched has already won backing from major investors including Coinbase. Called Blade, the exchange platform is planning to go live in a few weeks with a focus on perpetual swaps, TechCrunch reported Monday. The firm was founded by Jeff Byun and Henry Lee, who had previously launched a delivery startup that crypto-friendly payments firm Square acquired in part in 2017. The two have now brought some of the same investors in to back their new Blade venture. Aside from Coinbase, investors in the $4.3…

60 Latin American Banks Can Now Use Bitcoin for Cross-Border Payments

A leading bank technology provider in Latin America is partnering with cryptocurrency exchange Bitex to facilitate cross-border payments over the bitcoin blockchain. “The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking,” said Bitex Chief Marketing Officer Manuel Beaudroit. Bantotal is a core banking service provider based in Uruguay that services over 60 different financial institutions across 14 different countries. According to a Bantotal spokesperson, an estimated 20 million people use Bantotal’s money management services. “Bantotal is one of the biggest…

Coinbase UK Dropping Support for Cryptocurrency Zcash

The U.K. arm of Coinbase appears to be dropping support for the privacy-focused cryptocurrency zcash. According to customers, Coinbase UK is sending letters out warning people that they will need to convert their zcash (ZEC) holding, or remove them to an external wallet, by Aug. 26. @zcash @ElectricCoinCo @coinbase what’s going on with Zcash in the UK? pic.twitter.com/6GWS9CuIoH — Alex (@deskofwilkes) August 8, 2019 The cryptocurrency exchange gave no specific reason for the removal of the cryptocurrency, but said all remaining ZEC balances on Aug. 26 will be automatically converted to…

Stolen Binance Funds Still Being Laundered Through Mixers, Researchers Claim

May’s Binance hacker has been hard at work washing his stolen bitcoins through a mixing service. Clain.io, a Luxembourg-cryptocurrency capital flows research team, says the 7,074 stolen coins are being laundered through mixing service Chipmixer. Clain says at least 4,836 bitcoins were laundered since June 12th. A bitcoin tumbling service mixes a bitcoin’s unspent transaction outputs, or UTXOs, with other users’ coins. Since bitcoins are attached to the publicly verifiable blockchain with UTXOs, mixing services are used to obfuscate transaction histories that follow bitcoins around. Chipmixer was overwhelmed with the…

Coinbase Says It Foiled a ‘Sophisticated’ Hacking Attack

Cryptocurrency exchange Coinbase has revealed that it has been targeted by, and foiled, “a sophisticated, highly targeted, thought out attack” aimed to access its systems and presumably to make of with some of the billions of dollars’-worth of cryptocurrency it holds. In an Aug. 8 blog post that sets out in technical detail how the plot unfolded and how the exchange countered the attempted theft, Coinbase said the hackers used a combination of methods to try and hoodwink staff and access vital systems – methods that included spear phishing, social…

Gemini Exchange Data Is Being Added to CME’s Crypto Indices

Market data from the Winklevoss twins-founded crypto exchange Gemini is being added to eight crypto indices offered by CF Benchmarks. Formerly called Crypto Facilities, CF Benchmarks’ eight reference products include four indices and reference rates provided for CME Group, which currently offers a bitcoin futures product: the CME CF Bitcoin Reference Rate and CME CF Bitcoin Real Time Index, and the CME CF Ether-Dollar Reference Rate and CME CF Ether-Dollar Real Time Index. CF Benchmarks said Thursday that the addition of Gemini as a data source, alongside existing exchanges Bitstamp, Coinbase, itBit…

SBI Holdings’ Crypto Exchange Adopts New Tech to Help Meet FATF Standards

VC Trade, the Japan-based crypto exchange launched by SBI Holdings last year, is integrating new technology to help it comply with international customer verification standards issued by the Financial Action Task Force (FATF) in June. The solution is provided by blockchain security company CoolBitX, which has developed a wallet product based on its know-your-customer (KYC) and anti-money laundering (AML) compliance-focused cryptocurrency transaction and security solution called Sygna. According to an announcement from CoolBitX on Thursday, SBI’s VC Trade is now using a customized version of the company’s wallet,  CoolXWallet, which only allows…

Coinbase Must Face Negligence Suit Over Bitcoin Cash Launch, Judge Rules

Coinbase must face a negligence lawsuit from customers who bought bitcoin cash (BCH) following its allegedly botched listing on the exchange during the 2017 bull market, a judge has ruled. U.S. District Judge Vince Chhabaria of the Northern District of California dismissed the plaintiffs’ fraud and unfair competition claims against Coinbase, and the negligence claims brought by the ones who sold BCH. But he denied Coinbase’s motions to move the case to arbitration and to dismiss the buyers’ negligence claims, saying it is “plausible” that the company “breached its duty to maintain a functional…