The Daily: Crypto Self-Regulatory Organization, 100 BTC Whistleblower Reward

The Daily: Crypto Self-Regulatory Organization, 100 BTC Whistleblower Reward

In today’s edition of Bitcoin in Brief we cover a couple of stories that show how the cryptocurrency industry is trying to police itself. One group of companies has begun working on the formation of a self-regulatory organization and another has created a 100 BTC whistleblower reward pool.

Also Read: 44% of American Executives Think “Blockchain Is Overhyped”

Crypto Self-Regulatory Organization

The Daily: Crypto Self-Regulatory Organization, 100 BTC Whistleblower RewardA number of companies have jointly formed a Working Group to try and establish an industry-sponsored, self-regulatory organization (SRO) for cryptocurrency marketplaces operating in the USA. Initial participants in the Virtual Commodity Association (VCA) Working Group will include: Bitstamp, Bitflyer USA, Bittrex, and Gemini Trust. The VCA will have an executive director, independent board, and be tasked with establishing a framework for industry best practices. The VCA interim Executive Director will be Maria Filipakis, former Executive Deputy Superintendent at the New York Department of Financial Services (DFS) which created the state’s Bitlicense.

“We’re proud to be a part of the Virtual Commodity Association as a way to add another element of protection for consumers,” stated Nejc Kodrič, Bitstamp CEO. “We believe in the value of self-regulation, which we pursued in Europe almost from our inception, and look forward to following a similar path in the U.S. Those that can’t or won’t comply with regulations put consumers – and their own operations – at risk.”

100 BTC Whistleblower Reward

The Daily: Crypto Self-Regulatory Organization, 100 BTC Whistleblower RewardAnother group of actors in the industry (including Ecoinmerce, ICO Alert, GZH, Step VC, and New Economies) has created the Crypto Community Watch, a program which provides an anonymous tip line to report wrongdoing. The group has provided a total of 100 BTC to be used as a reward pool for whistleblowers, meaning people with information on fraudulent or illegal activity from within the industry. They explain that if reported information leads directly to the arrest or legal punishment of a wrongdoer, the whistleblower responsible for it will receive a portion of the reward pool. And all submissions will be investigated by Crypto Community Watch members and sent to applicable law enforcement agencies when appropriate.

“From the recent exchange hacks to the nearly-weekly reports of fraudulent projects taking off with investors’ money, it’s clear that crypto has a problem,” said Ecoinmerce COO Rex Chen. “Enough is enough. It’s up to the industry first and the regulators second to clean up the ecosystem. If you spend your time hacking, scamming, or intentionally misleading investors, your time is up.”

SBI Helps Lastroots With FSA Order

SBI Holdings has an announced on Monday that it has made an additional investment in Lastroots, an exchange that was issued a business improvement order earlier this year by the Japanese FSA. The undisclosed infusion of capital is meant to help the company get itself into shape to become a licensed virtual currency exchange business in Japan. And in addition to the extra funds, SBI also “dispatched officers to Lastroots in order to respond to the order of business improvement received…on April 6, 2018 to strengthen the management system.”

More broadly, the investment announcement explained that “The SBI Group is expanding its contribution and partnerships with digital asset-related venture companies and will promote the creation of digital asset real demand through investment in domestic and overseas venture companies that are engaged in business utilizing digital assets and developing new products. We believe that it will contribute to the expansion and development of digital asset industry / business in the future.”

New Exchange Secures Fiat-Crypto Liquidity

The Daily: Crypto Self-Regulatory Organization, 100 BTC Whistleblower RewardCoinmetro, an Estonia-licensed crypto exchange which has been founded by the same team behind the forex broker FX Pig, has announced it secured liquidity for trading in EUR, USD, JPY, and GBP from a number of payment and e-money institutions. This means that when it launches later this year, users will be able to trade five cryptocurrencies (BTC, ETH, XRP, LTC and BCH) against all these fiat currencies. The platform will also accept Euro deposits and withdrawals via the Single Euro Payments Area (SEPA) upon launch, supported by an Estonian banking provider. The company explains that additional banking partners are being sourced in order to offer other transaction options, and these are expected to be announced later this year.

CEO Kevin Murcko said: “One of the difficulties of getting involved with crypto is “on-ramping” – finding somewhere to buy crypto in exchange for fiat money. Despite Bitcoin moving further into the mainstream and attracting established financial institutions, locating an exchange that will convert dollars, pounds, or euros to crypto is still irritatingly difficult. While some multi-coin exchanges have recently announced plans to begin accepting fiat and the creation of fiat trading pairs, their offerings are still very limited. Most exchanges permit only one or, at most, two currencies for trading with crypto, which for serious traders, is still far too restrictive.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Crypto Self-Regulatory Organization, 100 BTC Whistleblower Reward appeared first on Bitcoin News.

The Daily: Binance Tracker Available in Beta, New Crypto Exchange Ready in Two Weeks

The Daily: Binance Info Available in Beta, Crypto Exchange in Two Weeks

Leading cryptocurrency exchange Binance has announced the launch of its new market intelligence app in beta. The mobile tracker is available for Android and iOS. Also in The Daily, an IT company offers a platform to build a crypto exchange in just two weeks, Shariah compliant trading platform promises to bring Muslim crypto enthusiasts into the space, and a Russian region issues Amurcoin.

Also read: McAfee’s Doomed Wallet, Altcoin Panic, Binance Launches Fiat-to-Crypto

Binance Launches Mobile Market Tracker

The Daily: Binance Info Available in Beta, Crypto Exchange in Two WeeksBinance, the largest crypto exchange by daily trading volume, has launched a new market intelligence application. The beta version of Binance Info is now available for both Android and iOS devices, the company announced on Twitter. According to its page, Binance Info provides comprehensive project information and market data for more than 1,200 digital coins and tokens, including their issue price, ICO date and circulating supply. It supports both fiat and crypto pricing with multiple base currencies to choose from and offers users real-time charts and indicators.

The launch of the mobile market tracker is part of a series of new announcements by the Chinese-run trading platform in the past few weeks. News.Bitcoin.com reported last week that Binance is setting up a fiat-to-crypto exchange in Liechtenstein through a joint venture with LCX. Also announced was a new educational portal in beta – Binance Academy. The platform is an open access learning hub supported by the Binance team. The exchange is reportedly also exploring opportunities to invest in a ”decentralized” bank in Malta.

Exchange Ready in Just Two Weeks

The Daily: Binance Info Available in Beta, Crypto Exchange in Two WeeksAn IT company, specialized in software development for the fintech sector, has recently launched a platform that allows clients to create their own cryptocurrency exchange, fast and easy, the Russian Bitcrypto News reports. Softfx, which provides services to forex and crypto brokers, dealers, banks and investment funds, claims that with its modular solution customers can have their trading platform up and running within two weeks after presenting their requirements.

The Exchange platform comes with useful functionalities like automated purchases and sales of digital assets, crypto-based CFD trading, integration with a number of payment systems including Webmoney, Skrill, Qiwi, and Yandex Money, as well as wallets supporting cryptocurrencies like bitcoin core (BTC), litecoin (LTC), ethereum (ETH), and ripple (XRP). Companies can also add their own coins issued through ICOs, including ERC20 tokens. The developers promise high level of security and encryption for users’ personal information, financial data and funds, as well as protection against hacking and DDoS attacks.

Shariah Crypto Platform Launches in UAE

The Daily: Binance Info Available in Beta, Crypto Exchange in Two WeeksAdab Solutions, a company based in the United Arab Emirates, has created a Shariah compliant cryptocurrency trading platform named First Islamic Crypto Exchange (FICE). Striving to adhere to “the high moral requirements set forth by the Shariah community,” the company has decided to create an in-house Shariah Advisory Board in order to “ensure that Islam is finally included in the global cryptocurrency market.”

The Board has been created as an independent body including internationally recognized Shariah experts, the Arabian Business Community reported. Their role will be to provide inputs on Shariah matters and help FICE comply with Shariah principles. Adab Solutions hopes to not only ensure high quality of exchange services but also support the inclusion of Muslim crypto enthusiasts and traders into the space.

Russian Region Issues Its Amurcoin

The Daily: Binance Info Available in Beta, Crypto Exchange in Two WeeksAmur Oblast, a region located in Russia’s Far East, has emitted 1 million of its own tokens called Amurcoins. The cryptos will be used by participants in the Eastern Economic Forum (EEF) scheduled to take place September 11 – 13, 2018 in Vladivostok. EEF has become a major platform for the presentation of new strategies to develop and promote political, economic and cultural links between the Russian Federation and countries from the Asia-Pacific region.

EEF guests will be rewarded with Amurcoins for every stride they make at the venue of the event, Bitnovosti reports. They can use the tokens to purchase and pay for a variety of goods and services, from souvenirs and ice cream, to renting a hotel room. The experiment, supported by local crypto enthusiasts and their friends from Moscow, is intended to help visitors better understand what blockchain is, how cryptocurrencies work, and also present Amur as an innovative, high-tech hub. The Oblast is home to the first Russian digital economy school and is currently building an international blockchain center.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, Binance, Adab Solutions.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

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The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and That

The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and That

Scammers are threatening to reveal cheating husbands to their wives and asking for bitcoin ransom – check the details in this edition of The Daily. A porn streaming website now rewards its users with tokens, and hair sprays are sold for BTC and BCH. Also, find out what Brits think about blockchain and learn about the latest incarnations of the technology.

Also read: Binance Launches in Liechtenstein, ZB.com Opens Office in Malta

Scammers Threaten Cheating Husbands, Ask for Bitcoin

The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and ThatThe U.S. Federal Bureau of Investigation (FBI) has recently issued a warning about new scams involving cryptocurrency: fraudsters have been sending letters threatening to reveal cheating husbands to their wives and relatives unless they are paid thousands of dollars in bitcoin (BTC). The FBI’s Internet Crime Complaint Center (IC3) says there’s been a significant increase in the number of extortion attempts of this kind.

A variety of scenarios have been reported but the scammers usually accuse people of cheating and visiting porn sites, and claim to possess other compromising information as well. Threats like “I know about the secret you are keeping from your wife” and “I installed malware on the adult video site” are often part of the correspondence.

People’s personal data like names, usernames, or passwords is included to intimidate the targeted individuals. In most cases, the recipient is instructed to pay a ransom in bitcoin. The Bureau asks victims to reach out to the local FBI office and file a complaint with the IC3 at www.ic3.gov, providing any relevant information including the extortion email and the BTC address.

Porn Site Rewards Viewers with Tokens

Speaking about earthly temptations, a leading adult website now wants to reward its users with cryptocurrency. Tube8, a subsidiary of Pornhub, one of the largest platforms in the genre which boasts over 150 million page visits a month, is now moving onto the blockchain. The porn streaming service told Hard Fork it is tokenizing itself through a partnership with Vice Industry Token (VIT). According to the report, the deal will allow users to earn VIT tokens while enjoying the Tube8 videos.

The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and That

The transformation is scheduled to take place by the end of the year, promising to turn Tube8 into the very first major adult platform to pay its users for their activity in cryptos. By doing so, Pornhub, which is already accepting payments in verge, tron and zencash, is truly spearheading crypto adoption and blockchain implementation in the adult industry, taking advantage of the anonymity provided by cryptocurrencies, which is important for its customers.

Something for the Ladies: Buy Hairspray with Bitcoin

The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and ThatThinking about finding new intersections between beauty and technology, beyond formula or packaging, R+Co, the beauty collective founded by stylists Howard McLaren, Thom Priano, and Garren, is now incorporating bitcoin core (BTC) and bitcoin cash (BCH) payments into its business, The Cut reports. The team thinks it’s a logical next step.

Once you decide to pay for your hairspray with any of these leading cryptocurrencies, “The Culture of Hairdressing” promises a simple online checkout experience. After providing billing and shipping information, ladies will be prompted to choose a payment method and they can opt to spend cryptocurrency instead of reaching for the credit card. Selecting the bitcoin option will transfer them to Bitpay where they need to complete the purchase within 15 minutes. Excited about the new service, R+Co’s president Dan Langer said:

Blockchain technology is going to be one of the future disruptors in the beauty industry. It will allow consumers the ability to leverage their data and purchase behavior in all kinds of new shopping ways… from reviews to rewards to product benefits. In order to stay at the forefront of this emerging thinking we wanted to integrate components of it while still in its early stages – like paying with Bitcoin – and learn with it as it evolves.

Blockchain This, Blockchain That

Bitcoin payments – that’s fine, but “blockchain” is not something everyone accepts without prejudice. Almost half of Brits, for example, wouldn’t trust an organization using it, new research from IP EXPO Europe has discovered. The authors have found that over a third of British people (35%) would not trust a company employing the technology to keep their information secure. The main reason for their mistrust is not knowing what blockchain really is.

Another 11% of the respondents in the poll conducted by One Pulse, who believe they know what blockchain is, would also not trust an organization that’s using it. Both figures represent almost half of UK citizens. Add to that the 28% who say they wouldn’t trust a firm using any technology they don’t understand and you’ll realize how important it is for businesses to ensure they don’t confuse their customers while trying to improve their technical capabilities or simply riding the wave of the crypto craze.

The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and That

Nevertheless, the blockchain mania goes on and this week produced a number of examples. We learned that Italian insurance companies are testing a blockchain-based solution to resolve disputes involving car-liability claims, Wyoming farmers want to use the distributed ledger technology to track what their cattle eats and then brand their beef as superior, blockchain-proof probably, and the China Aerospace Science and Industry Corporation has developed a blockchain platform to improve electronic invoicing… What? Oh, and “China’s first blockchain social network is the brainchild of a 24-year-old female poker player,” mainstream media informed us.

Realizing the importance of blockchain education, Hong Kong authorities have granted $20 million USD to several local universities that are expected to use the funds to finance the research and development of blockchain-based payments systems. And in the Philippines, one of the oldest universities, Ateneo de Manila, is partnering with a healthcare service provider to set up a research laboratory powered by blockchain. All this is happening after Turkey’s Bahçeşehir University inaugurated the country’s first blockchain innovation center. Yes, a lot of education is needed when it comes to blockchain.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and That appeared first on Bitcoin News.

The Daily: Stoners Drop Crypto From IPO, Binance Launches Academy

The Daily: Stoners Drop Crypto From IPO, Binance Launches Academy

In today’s edition of Bitcoin in Brief we cover stories about the stoners’ magazine High Times which dropped cryptocurrencies from its IPO, Binance launching its own academy, an institutional investors program by Kucoin and the Cash App expanding its crypto buying service across America.

Also Read: An ICO Venture Is Trying to Take Over a Tokyo Stock Exchange Listed Company

Stoners Drop Crypto From IPO

The popular cannabis culture publication High Times recently announced that it is holding an initial public offering (IPO) and that it will be the first regulated A+ stock willing to accept cryptocurrencies such as BTC and ETH. However, according to a filing with the Securities and Exchange Commission (SEC) that was just an honest mistake. The announcement was “distributed in error as the Company will not be accepting bitcoin as payment for shares. As provided in the Company’s subscription agreement related to the offering, the Company will only be accepting check, credit card, ACH or wire transfer as payment for subscription to shares,” High Times now claims. While it would have been fair to assume another company might have gotten cold feet due to the current bear market, or that it was somehow intimidated by the regulators behind the scenes, in this case it is indeed possible that whoever wrote that original announcement was just stoned out of their mind at the time.

Binance Launches Academy

The Daily: Stoners Drop Crypto From IPO, Binance Launches AcademyPopular cryptocurrency exchange Binance has announced it is launching a brand new educational resource portal in an open beta. Binance Academy is defined as an open access learning hub supported by the venue’s team. “Our aim is to provide a one-stop-shop for blockchain and crypto learning resources, open to anyone and for the benefit of all,” they explain. Current topics include Blockchain, Coins & Tokens, Binance, Security, and Trading, and many more are said to be in the pipeline. Binance says it will be adding more and more learning resources to the Academy week after week, the plans for this are said to be ready but they also look to adapt based on community feedback and submissions.

Kucoin Institutional Investor Program

Kucoin, the Singapore-based cryptocurrency exchange, has recently announced a new program meant to encourage institutional investors to participate more actively in trading activities. The Institutional Investor Program is designed for those that participate in quantitative trading, high-frequency trading, etc. All institutions that successfully qualify for the program will receive significant trading fee discounts of 20% to 80%.

The exchange also recently responded to media reports that its central office in Hong Kong is empty. The team explained that: “In fact, KuCoin’s public address in Hong Kong is merely a mailing address of one of KuCoin’s many subsidiary companies. KuCoin Headquarters is in Singapore. KuCoin has always been a global firm, with over 300 employees and four major offices in China, the Philippines, Singapore, and Thailand.”

Cash App Expands Crypto Service Across America

The Daily: Stoners Drop Crypto From IPO, Binance Launches AcademyCash App, the BTC buying and selling service by the payment processing firm Square, has announced on social media that the feature is now available for American users in all fifty states. Back in November, 2017 this functionality was only available to select individuals for experimentation. But by February there were only four states left where residents were not able to access the crypto service on Square’s Cash App due to harsher cryptocurrency regulations, which included Hawaii, New York, Wyoming, and Georgia.

Square Inc (NYSE:SQ), has recently reported its Q2 2018 financial results, revealing that $37 million of crypto sales revenue helped the company accelerate its growth during the period.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Stoners Drop Crypto From IPO, Binance Launches Academy appeared first on Bitcoin News.

The Daily: Huobi OTC to Support Dồng, Dymon Asia Backs Crypto Platform

The Daily: Huobi OTC to Support Dồng, Dymon Asia Backs Crypto Platform

In today’s edition of Bitcoin in Brief, we cover the addition of Vietnamese đồng fiat to Huobi OTC, venture capital fund Dymon Asia backing a new institutional crypto platform, and Paxful donations supporting the building of a second school in Rwanda.

Also Read: US Government to “Aggressively Pursue” Unregulated Services Around the World

Huobi OTC to Support Dồng

The Daily: Huobi OTC to Support Dồng, Dymon Asia Backs Crypto PlatformHuobi, the Singapore-headquartered trading venue, has announced its plan to support Vietnamese đồng transactions on its proprietary peer-to-peer trading platform, Huobi OTC. This means that Vietnamese traders can now use Huobi’s OTC trading platform to exchange between crypto and fiat currencies.

The OTC service is meant to act as an intermediary that reduces the risk of fraudulent activity for traders in countries where regulatory guidelines have not yet been established. With the addition of the Vietnamese đồng, Huobi’s OTC trading platform now supports 18 fiat currencies including CNY, USD, SGD, INR, CAD, AUD, KRW, CHF, TWD, RUB, GBP, HKD, NGN, EUR, IDR, PHP and KHR.

Dymon Asia Backs Crypto Platform

Dymon Asia Venture Capital Fund has announced it is backing LXDX, a cryptocurrency trading platform that offers technology services for exchanges, including software for public retail exchanges and private exchanges for institutional block trading. Dymon Asia Ventures is the venture capital arm of Dymon Asia Capital, an alternative investment manager headquartered in Singapore with approximately US$5 billion under management. The fund’s support is meant to help LXDX make the cryptocurrency space more accessible to investment banks and hedge funds.

CEO Joshua Greenwald said: “We built LXDX in response to the aversion conventional finance institutions have had to the cryptocurrency space. Joining forces with Dymon allows our team, with decades of trading experience, to bring the qualities of traditional lit and dark exchanges to these new markets.” Christiaan Kaptein of Dymon Asia Ventures added: “We are extremely pleased to be a part of LXDX’s mission to improve the infrastructure of cryptocurrency trading. We believe that blockchain investors deserve the reliability, performance, and professionalism found in traditional markets. We are thrilled to be supporting LXDX in their vision and execution of a more efficient trading system.”

Paxful to Build Second School in Rwanda

The Daily: Huobi OTC to Support Dồng, Dymon Asia Backs Crypto PlatformPaxful, which launched the #BuiltWithBitcoin program in 2017 by donating $50,000 for the construction of a nursery school in Rwanda, has announced today the latest development in its charitable initiative. The company will sponsor the construction of a school for students aged 6-15 in the Nyamata Sector of Rwanda’s Bugesera District. Paxful jump-started the project with a $20,000 donation. Total construction is estimated to cost $100,000, with the balance to be collected through an online crowdfunding campaign. Donations can be made via BTC, BCH, ETH, LTC and Dash. And Paxful vowed to match all community donations until the $100,000 goal is met. “The #BuiltWithBitcoin initiative is a testament to the power of cryptocurrency,” said Ray Youssef, CEO of Paxful. “We firmly believe that it can improve lives and make the world a better place.”

The new school is expected to be almost double the size of the first, with six classrooms and six full-time teachers serving up to 300 primary school students. It will include a cafeteria, a 35,000-liter potable water well, solar panels, and other resources for the education and enjoyment of students, staff, and faculty. “Education is a crucial tool for helping those in developing nations increase their standard of living, so we are very pleased to partner with Paxful to serve these bright young students,” said Yusuf A. Nessary, founder and president of Zam Zam Water, the humanitarian organization handling the project. “This is only a small glimpse into what we can and will continue to do with the power of cryptocurrency.”

Latest Scare: Crypto Mining Students

The mainstream media loves to make sensationalist headlines out of cryptocurrency. And their latest scare story is a supposed “wave of crypto mining at colleges”. CNBC talked to just one student from Penn State who was GPU mining using the free electricity in his dorm room back in 2017 and turned it into a wide phenomena threatening to burden universities with growing new energy costs. The report claims that cyber security firm Vectra conducted a study of mining on eleven campuses and found evidence of mining in every school. Furthermore, they claim universities are witnessing students starting mining operations between one to four times every day. And to add more interest, they even tried to link mining to somehow making the schools more vulnerable to hackers.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Huobi OTC to Support Dồng, Dymon Asia Backs Crypto Platform appeared first on Bitcoin News.

Bitcoin in Brief: Crypto Payments via SMS, Coin Tips for Tweets and Posts

Bitcoin in Brief: Crypto Payments via SMS, Coin Tips for Tweets and Posts

Financial software developer Intuit has been awarded a patent for processing BTC payments via SMS and we’ve covered the details in today’s edition of Bitcoin in Brief. Also in The Daily, Brave browser plans to enable BAT tips for tweets and Reddit posts, cryptocurrency is projected to constitute 5 percent of the portfolios of US investors next year, and in Thailand, a famous actor has been arrested for an alleged crypto investment fraud.

Also read: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

Intuit Awarded Patent for BTC Payments via SMS

California-based company Intuit, a financial software developer, has been awarded a patent for processing bitcoin core (BTC) payments via text messages (SMS), according to a filing published by the US Patent and Trademark Office on August 7. The patent that outlines a system to transfer BTC funds by sending text messages on smartphones was filed back in 2014. According to its abstract:

The method includes receiving, by a payment service, a payment text message comprising a payment amount and an identifier of a payee mobile device, validating the payment text message based on a payer balance of a virtual payer account maintained by the payment service for the payer […] transferring, in response to creating the virtual payee account, the payment amount from the virtual payer account to the virtual payee account […].

Despite the prolonged consideration of the patent application, Intuit has been continuously developing its crypto-cash payment solutions in the meantime. Earlier, the company announced it had reached a partnership agreement with the payment provider Veem to build a system for processing international cryptocurrency payments.

Brave Browser to Enable Tips for Tweets and Posts

Brave, the privacy-oriented web browser that supports opt-in ads and crypto payments between users and website publishers like Twitchers and Youtubers, is now planning to expand its service to Twitter and Reddit. The startup intends to introduce support for the two platforms in the fourth quarter of this year, according to an announcement quoted by CNET.

Bitcoin in Brief: Crypto Payments via SMS, Coin Tips for Tweets and PostsTo take advantage of the tipping system, which uses Brave’s basic attention token (BAT), users have to enable the payments in the browser. Then, if another Brave user decides that a tweet or a post is worth rewarding, they can send a BAT tip. “The model will be tipping – a user likes a tweet and can give BAT to the tweeter, and optionally tweet back that he tipped,” the company explained. The mechanism for Reddit users will be similar.

Brave is essentially trying to redefine how online advertising works. Its browser is blocking ads by default and people’s attention is rewarded with tokens. BAT payments can be made between users, publishers and advertisers. The opt-in system allows anyone who sees a Brave-placed ad to get a portion of the revenue from the advertiser. Brave claims to have more than 20,000 verified publishers and 3.25 million monthly active users who can send and receive BAT tips. The Brave browser project was funded through an Initial Coin Offering (ICO) and launched by Mozilla co-founder Brendan Eich.

Crypto Expected at 5% of US Investments in 2019

Despite declining prices of most cryptocurrencies amidst a continuous bearish trend in crypto markets this year, a new survey has found that digital coins are becoming a permanent part of many investment portfolios in the US, decreasing the dominance of traditional instruments such as stocks, bonds and real estate. The authors of the study have detected a growing desire among US investors to get exposed to cryptos, considered by many to be the next big asset group.

Bitcoin in Brief: Crypto Payments via SMS, Coin Tips for Tweets and PostsThe Harris Poll survey, conducted on behalf of the American Institute of CPAs (AICPA), has established that cryptocurrencies will represent 5 percent of the investments of those 35 percent of Americans that consider themselves investors or plan to invest in 2019. At the same time, Exchange Traded-Funds (ETFs), which have received much attention in the crypto space recently, account for 8 percent of the projected investments.

The study has attempted to assess the knowledge and awareness of cryptocurrencies among active investors in the United States. According to the published results, their levels remain relatively low with almost half of the respondents admitting having little or no understanding of the matter. “Cryptocurrency appears to be foreign to many investors. The survey found that nearly half of U.S. adults (48 percent) are not familiar with Bitcoin, Ethereum, or Litecoin,” the AICPA commented on the findings.

Thai Actor Arrested for Alleged Crypto Investment Fraud

Bitcoin in Brief: Crypto Payments via SMS, Coin Tips for Tweets and PostsPolice in Thailand have arrested Jiratpisit “Boom” Jaravijit, a famous Thai actor, for his alleged participation in a fraudulent crypto-investment scheme. According to local media reports, he lured a foreign national into investing 797 million baht (~$24 million USD) in digital currency. Mr. Jiratpisit, who was apprehended on Wednesday after the Thai Criminal Court issued an arrest warrant in July, has been also charged with collusion in money-laundering.

The actor is one of seven suspects who allegedly committed the crime, The Bangkok Post reported. Law enforcement officials said they acted after receiving a complaint that the accused had defrauded the foreigner into sending them the money in bitcoin (BTC). The fraudsters assured the person the funds would be used to buy shares in companies that had invested in the Dragon Coin digital currency. The investor, identified as the Finnish national Aarni Otava Saarimaa, met the suspects in June, 2017. The Thai actor has denied the charges.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post Bitcoin in Brief: Crypto Payments via SMS, Coin Tips for Tweets and Posts appeared first on Bitcoin News.

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

Covered in The Daily on Friday are several announcements crypto users may find interesting. Ledger has added support for 8 new coins and crypto exchange Okex is launching a white label platform. Also, Exmo will offer its European users faster payments and transfers in partnership with Mistertango, and Estonian startup Citowise has integrated credit card purchases for crypto in its Android app.

Also read:  Shapeshift Acquires Bitfract, Bitmain Invests in Tribeos

Ledger Adds Support for 8 New Cryptocurrencies

Popular hardware wallet provider Ledger has added support for third party applications developed for eight new digital assets to its Ledger Nano S device. From now on, the company will announce new additions on the first Tuesday of each month, in order to streamline app validation.

Starting this week, the Ledger Live application for Ledger Nano S offers the following new coins: Poa, Icon, Vechain, Wanchain, Ontology, Kowala, Particl, and RSK, the company announced in a tweet. Ledger developers have also provided a link to their roadmap for planned releases and other useful details published on Trello.

In a blog post, the team behind Ledger notes that the validation process for third-party apps will be simplified with clearer guidelines, giving developers more comprehensive guidance on security good practice, device applications interface, experience, and design requirements.

The new applications will be available for installation on Ledger devices through Ledger Live. However, the coins won’t be directly compatible with the native app and initially customers will have to use a compatible third-party wallet to perform transactions. “Ledger Live will gradually incorporate full support for third-party applications to enable Ledger users to not only install, but also transact with these new crypto assets directly from Ledger Live,” the company explains.

Okex Launches White Label Platform

Crypto exchange Okex has announced the launch of its new Coinall platform, a white label solution which is part of its Open Partnership program that started a couple of months ago. “The launch of CoinAll, the 1st exchange under Open Partnership Program, symbolizes a new era to build a community- and project-centric open exchange, unveiling an exciting new chapter in the blockchain industry!” the Chinese-run company posted on Twitter.

Participants in the Open Partnership program will now be able to take advantage of a variety of services offered by the exchange, including its clearing system, cold and hot storage, applicable anti-money laundering (AML) and know your customer (KYC) procedures. Coinall developers also claim that it is the first autonomous, community-run crypto-trading platform.

Coinall has released 10 billion CAC tokens, 51% of which will be allocated as rewards to users. The other 49% are reserved for the founders of the exchange and the members of the Open Partnership program. Currently, the platform offers trading pairs of CAC with bitcoin core (BTC), ethereum (ETH), and tether (USDT).

Exmo Introduces Faster Payments with Mistertango

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with MistertangoThanks to a newly announced partnership with Lithuania-based payments provider Mistertango, European crypto exchange Exmo will offer its users the opportunity to make instant deposits and withdrawals in EUR. Traders will also be able to make Single Euro Payment Area (SEPA) transfers which translates into faster payments.

The Mistertango payment account will allow Exmo users to fund their crypto-related activities using fiat currency. The account comes with an IBAN number, offering the ability to instantly transfer money via SEPA, and a prepaid Mastercard as well. According to a press release, the Lithuanian company already works with more than 100 cryptocurrency exchanges and intends to expand further in the crypto space.

Estonian Citowise Offers CC Purchases of Cryptos

Crypto wallet provider Citowise is now offering users the option to buy cryptocurrencies with Visa, Mastercard and American Express debit/credit cards. The newly integrated function in its Android app currently supports purchases of bitcoin core (BTC) and ethereum (ETH), with plans to add other cryptos in the future, including bitcoin cash (BCH), litecoin (LTC), ripple (XRP), and NEO. In a blog post, the team promises that the functionality will also be available on iOS soon.

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

In order to buy cryptocurrencies with their bank cards, users need to pass KYC and AML verification, a service provided by a third party – Citowise’s partner company Transcoin. The purchasing limits for this option are set at €32,000 (~$36,600) per month. The total can be spread over a maximum of four credit or debit cards, the company notes. The app of the Tallinn-based startup also supports purchases of cryptocurrencies with SEPA payments. In this case, the monthly limit is €200,000 and the daily is €40,000.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, Ledger, Okex, Exmo, Citowise.


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The Daily: Shapeshift Acquires Bitfract, Bitmain Invests in Tribeos

The Daily: Shapeshift Acquires Bitfract, Bitmain Invests in Tribeos

In today’s edition of Bitcoin in Brief we cover stories about Shapeshift acquiring Bitfract, Bitmain investing in Tribeos, a dozen regulators from around the world setting up a global fintech sandbox and an ICO mogul reportedly buying a soccer team.

Also Read: Crypto Tax App Libra Raises $15M in Series B Funding

Shapeshift Acquires Bitfract

The Daily: Shapeshift Acquires Bitfract, Bitmain Invests in TribeosShapeshift AG has announced the acquisition of Bitfract, an Austin, Texas-based software firm which recently developed a service that allows users to swap from one cryptocurrency to many in an instant. Following the sale, the tool will be maintained and continue to operate, and the functionality that the platform provides (multiple output transactions) will be incorporated into Shapeshift’s core platform in the near future.

“The Bitfract team made expert use of ShapeShift’s open API to build a product that we ourselves were planning to build,” said Erik Voorhees, Founder and CEO of Shapeshift. “This demonstrated a great alignment of strategy and thinking, and their execution was so exceptional that we wanted to bring their talented team and technology on board.” Willy Ogorzaly, Co-Founder and CEO of Bitfract, added: “When Erik asked if we wanted to join ShapeShift, the answer was immediately yes. We believe in a decentralized future where individuals freely control their digital wealth, and our team is honored to work alongside Erik and everyone at ShapeShift to make this a reality.”

Bitmain Invests in Tribeos

The Daily: Shapeshift Acquires Bitfract, Bitmain Invests in TribeosBitmain Technologies Ltd., the Beijing-headquartered bitcoin mining hardware developer, made a $3 million seed investment in Tribeos – a digital advertising platform built on Bitcoin Cash (BCH). Funds are meant for building out the company’s core team and final development of the ads marketplace, scheduled to launch in 2019.

CEO Matt Gallant commented: “When industry leaders like Bitmain invest in a blockchain-based advertising platform like tribeOS, it signals a paradigm shift, not only in ad tech, but for the entire online advertising industry.” He added: “Every company doing online marketing has lost considerable amounts of money to scammers on digital advertising platforms. Fortunately, we now see a growing awareness about ad fraud. It’s about time. This has been an invisible crime for far too long. Platforms like ours will mean that the world’s value creators will no longer need to fight their way to sustainability, hoping to be one of the fortunate few who survive. tribeOS will end ad-fraud, allowing advertisers to find their audience quickly.”

Global Fintech Sandbox

A dozen financial regulators and related bodies have joined forces for the creation of a Global Financial Innovation Network (GFIN), based on the UK FCA’s proposal to create a ‘global sandbox’. The new network’s stated aim is to provide a more efficient way for firms to interact with regulators, helping them navigate between jurisdictions. It will also create a framework for co-operation between regulators on innovation-related topics. Current members include: Abu Dhabi Global Market (ADGM), Autorité des marchés financiers (AMF, Québec), Australian Securities & Investments Commission (ASIC), Central Bank of Bahrain (CBB), Bureau of Consumer Financial Protection (BCFP, USA), Dubai Financial Services Authority (DFSA), Financial Conduct Authority (FCA, UK), Guernsey Financial Services Commission (GFSC), Hong Kong Monetary Authority (HKMA), Monetary Authority of Singapore (MAS), Ontario Securities Commission (OSC), and the Consultative Group to Assist the Poor (CGAP).

ICO Mogul to Buy Soccer Team

The Daily: Shapeshift Acquires Bitfract, Bitmain Invests in TribeosAccording to newspaper reports from Israel, the serial entrepreneur and cryptocurrency advocate Moshe Hogeg has agreed to buy a local professional soccer team. Once the group’s debt issues are resolved, he will take over the Israeli Premier League member, Beitar Jerusalem Football Club, for 20 million shekels (about $5.4 million USD).

Hogeg is the man behind Sirin Labs, which raised $157.8 million in an initial coin offering (ICO) last year. The money was meant to be used to build an “ultra-secure” cold storage crypto wallet-phone which was promoted by soccer superstar Leo Messi. In June, he reportedly bought 5,000 square meters of private land to build himself a new house for about $19 million and paid 15% of that sum in crypto.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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The Daily: Coinbase Increases Trading Limits, ABCC Opens in Malta, Omniex Hires Former Regulators

The Daily: Coinbase Increases Trading Limits, ABCC Opens in Malta, Omniex Hires Former Regulators

On Wednesday, The Daily features a couple of announcements from Coinbase: the US crypto exchange enables instant purchasing with increased daily trading limits and is now accepting ETC deposits on its Coinbase Pro platform. We’ve also covered the opening of ABCC’s European headquarters in Malta and Omniex’s decision to appoint two former regulators as advisors.

Also read: Robinhood Reaches Iowa and Georgia, Coinbase Returns to Wyoming

Coinbase Enables Instant Purchasing, Increases Trading Limits

The Daily: Coinbase Increases Trading Limits, ABCC Opens in Malta, Omniex Hires Former RegulatorsUsers of Coinbase will be able to buy digital coins right after they deposit funds from their bank account, the platform explained in a blog post published on Tuesday. “Starting today, we are rolling out the ability to trade cryptocurrency immediately after a purchase — no more waiting five days for funds to settle,” the announcement reads.

While the platform supports instant transfers via wire transfer and debit cards, purchases via direct debits from a bank account used to take days. The change means that from now on the USD balances will be credited immediately for the amount customers have sent from their accounts. They’ll be able to buy cryptos but won’t have the option to withdraw before the funds from their bank are settled.

The company also announced an increase of the daily trading limits for US users. The functionality will be available over the next few weeks. For verified customers, the maximum allowable purchase will jump from $25,000 weekly to $25,000 per day. The exchange also noted that once the funds are transferred to Coinbase, there are no longer any limits to how much users can buy or sell at a time.

Initially, the instant purchasing, new trading limits, and the ability to withdraw coins will be available only to US customers who have completed the identity verification process with Coinbase. However, the platform promises to bring the updates to other markets as well.

Coinbase Pro Introduces Ethereum Classic (ETC)

The Daily: Coinbase Increases Trading Limits, ABCC Opens in Malta, Omniex Hires Former RegulatorsIn another announcement, the influential US exchange informed its clients of the successful completion of its final testing for the addition of ethereum classic (ETC), noting that the launch will proceed in four stages: transfer-only, post-only, limit-only, and full-trading mode. “Coinbase Pro is now accepting transfers of Ethereum Classic!” the company tweeted, notifying customers they can transfer ETC immediately to their exchange account and start trading within days.

“We are beginning the launch of ETC on our exchange at Coinbase Pro. We plan to add support for ETC at Coinbase.com when sufficient liquidity is established. We expect this to occur approximately 1–2 weeks after trading begins on Coinbase Pro,” David Farmer, Coinbase Pro’s General Manager, explained in the company’s blog. The exchange also reminded users that its GDAX platform was split into Coinbase Pro, for individual traders, and Coinbase Prime, for institutions.

Several positive developments, including the addition to Coinbase Pro and the Robinhood app, have pushed the price of ETC up. The cryptocurrency is currently the 13th largest by market capitalization, which is almost $1.68 billion USD at the time of writing.

ABCC Exchange Opens European Headquarters in Malta

Singapore-based digital asset exchange ABCC (Alphabit Cryptocurrency) has announced the opening of its European headquarters in Malta. In an official release, the trading platform described the move as a strategic decision, part of the commitment to increase its presence in Europe and elsewhere. The company hopes to create new investment and employment opportunities in the island nation which has taken steps to become a leading crypto-friendly destination. ABCC has also decided to sponsor an official blockchain event organized by the Maltese government, Delta Summit 2018.

The Daily: Coinbase Increases Trading Limits, ABCC Opens in Malta, Omniex Hires Former Regulators“This comes just a few weeks after the Maltese Parliament enacted into law the highly anticipated three bills which will pave the way for the creation of a new economic sector. I thank ABCC for putting their trust in Malta and for providing their input to implement our vision and make Malta The Blockchain Island,” said Silvio Schembri, Junior Minister for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister of Malta. “Indeed, we look forward to working closely with the Government of Malta and to support its transition into a digital innovation center of excellence,” added ABCC CEO Calvin Cheng.

ABCC’s announcement follows similar decisions by some of the world’s leading cryptocurrency exchanges. Binance, currently the largest trading platform by volume, is exploring opportunities to launch a decentralized bank in Malta. Another Chinese-run crypto exchange, Okex, announced in April it is setting foot on the island, and the Polish Bitbay revealed its plans to move to Malta in May.

Omniex Appoints Former Regulators as Advisors

The Daily: Coinbase Increases Trading Limits, ABCC Opens in Malta, Omniex Hires Former RegulatorsOmniex, a crypto trading and investment platform oriented towards institutional investors, has appointed to its Board of Advisors Arthur Levitt, former US Securities and Exchange Commission (SEC) Chairman, and Sheila Bair, former Chair of the Federal Deposit Insurance Corporation (FDIC). According to an official announcement, the company has also hired former Thomson Reuters and KCG executives as part of the plans to accelerate the adoption of its platform.

Omniex, which provides portfolio and risk management, trade execution, investment operations and compliance solutions for crypto-assets to buy-side, market-making and broker-dealer institutions, has raised $10 million USD since it was founded last fall. Among its investors are leading firms such as Wicklow Capital, Jump Capital, Digital Currency Group, Sierra Ventures, Clocktower Technology Ventures, Thirdstream Partners and Alan Howard of Brevan Howard.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, Blockinpress.


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The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and Georgia

The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and Georgia

In today’s edition of Bitcoin in Brief, we cover the return of Coinbase to Wyoming, the expansion of Robinhood Crypto to Iowa and Georgia, a lawsuit against an exchange for failing to give a user his BCH plus a cybersecurity research that finds cryptocurrency exchanges experienced a massive surge of user data leaks.

Also Read: Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

Coinbase Returns to Wyoming

The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and GeorgiaCoinbase has announced that its money transmitter license has been renewed in the state of Wyoming. That means that after about three years of absence, locals can once again use the platform to buy, sell and spend supported cryptocurrencies. Wyoming passed a number of laws meant to make the state more attractive to Bitcoin business this year, including exempting cryptocurrencies from property taxation.

Mike Lempres, Chief Legal & Compliance Officer, stated: “Regulators and legislators can work together to foster innovation by either licensing cryptocurrency money transmissions or exempting cryptocurrency from money transmission laws. The leadership and partnership between the state legislature and Governor Matt Meade allowed for this new legislation to be signed into law, under which cryptocurrency companies in Wyoming are no longer required to double reserve the assets of state residents. Now Coinbase and other compliant, regulated cryptocurrency companies can serve Wyoming customers in the same way we serve customers from nearly every other state.”

Robinhood Crypto Reaches Iowa and Georgia

The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and GeorgiaRobinhood Financial, the Palo Alto-headquartered US stocks brokerage app, has added another two locations where cryptocurrency trading is now supported for its clients. The company officially announced on its Twitter page that the service is rolling out to Iowa and Georgia. The app now supports Ethereum Classic (ETC), in addition to its previous offering of BTC, BCH, ETH, LTC and Doge. In total, Robinhood Crypto is now available in 19 US states, including Arizona, California, Colorado, Florida, Georgia, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia and Wisconsin.

Chinese User Sues Okcoin

According to media reports from China, a user of Okcoin named Feng Bin is suing the exchange over some missing bitcoin cash. The client claims he had to receive about 38.75 BCH following the fork due to his holdings before the event which just recently marked its one year anniversary. The Chinese investor alleges that when he contacted the Okcoin team to help recover his BCH he was told by support staff that the deadline the exchange set for doing so had expired and he was no longer eligible due to that reason.

‘Leaky’ Cryptocurrency Exchanges

Group-IB, a Moscow-based cybersecurity firm, has issued a report about user data leaks from cryptocurrency exchanges. The researchers analyzed the theft of 720 user accounts (logins and passwords) from the 19 largest exchanges during 2017, and found a steady increase in the number of compromised user accounts. In 2017, it increased by 369% compared to 2016. And in January 2018, the number of incidents jumped by 689% compared to the 2017 monthly average. The US, Russia and China are where users are targeted most often.

The study identified 50 active botnets used for launching cyberattacks on users of cryptocurrency exchanges. The researchers found that cybercriminals employ sophisticated malicious software and even modified tools previously used for attacks on banks to hack cryptocurrency exchanges and gain access to users’ personal data. However, the main culprit is that both users and exchanges fail to use two-factor authentication. The second cause is disregard for basic cybersecurity rules such as using weak and repetitive passwords.

The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and Georgia

“In 2018, we will see even more incidents. This situation requires prompt and effective response of all stakeholders, including experts in different areas,” stated Ruslan Yusufov, Director of Special Projects at Group-IB.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock, Group-IB.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Coinbase Returns to Wyoming, Robinhood Crypto Reaches Iowa and Georgia appeared first on Bitcoin News.

The Daily: New Education Centers, Vietnamese Ask for Fraudster’s Extradition

The Daily: New Education Centers, Vietnamese Ask for Fraudster’s Extradition

In today’s edition of Bitcoin in Brief we cover a number of new academic education centers around the world devoted to the research of the technology behind cryptocurrency, and demands by Vietnamese victims for an alleged fraudster’s extradition plus an update about Kickico.

Also Read: Okex Socializes Loss From Over $400 Million Bet Among BTC Futures Traders

Tsinghua University Research Center

The Daily: New Education Centers, Vietnamese Ask for Fraudster’s ExtraditionChina Internet Nationwide Financial Services Inc. (NASDAQ: CIFS), a financial advisory services provider, has announced an agreement with Tsinghua University to establish an “Industry Trusted Blockchain Application Technology Joint Research Center”. The stated purpose of the center is developing key technologies to support the blockchain ecosystem in the country, as well as common architectural systems and models needed to support blockchain applications for a range of industries.

Mr. Bin Yang, Vice President of Tsinghua University, noted, “The development of industry-trusted blockchain application technologies has become a vital national strategy for all countries. It is an important goal for us to deeply build digital ecosystems, which once integrated into our economy should speed up China’s economic transition by upgrading the industry standard. The digital transformation has only just begun and the development of industry trusted blockchain applications is expected to have a number of positive impacts for the society.”

Bahçeşehir University Innovation Center

According to media reports from Turkey, the Istanbul Blockchain and Innovation Center was inaugurated on Friday at Bahçeşehir University. It is said to work with students and entrepreneurs who want to conduct academic studies in the field. “The purpose of the BlockchainIST project is to be the most important center of research and development and innovation in Turkey in which scientific studies and publications are made in blockchain technologies. To this end, it is crucial to cooperate with other universities, the business world and government institutions,” stated Director Bora Erdamar. “We will strive to train Turkey’s human resources in blockchain and enable the country to lead the world in this area,” he added.

Hartford, Connecticut Chain Valley

The Daily: New Education Centers, Vietnamese Ask for Fraudster’s ExtraditionSeven Stars Cloud Group, Inc. (NASDAQ: SSC), the fintech firm of Chinese media tycoon Bruno Wu, has announced that it will be establishing its global headquarters for technology and innovation, called Chain Valley, in Connecticut. The company said it will be transforming Uconn’s former campus in West Hartford into a center for research, training, and business development with a $283 million investment expected to create 330 jobs over the next five years.

“We are thrilled to have found such a wonderful spot right here in central Connecticut,” Bruno Wu said. “It is here that the first students to ever leave China, the Mission Boys, settled in the late 1800s to study Western science and engineering. It is in the spirit of these students that we will build a facility so modern and dynamic that it will attract the best talent and companies, making this site the blockchain capital of the U.S. and the world. This fantastic location provides access to a highly skilled workforce, as well as more than 40 institutions of higher learning, and several major metropolitan areas all in proximity of this site. It is an ideal location for our firm to write our next chapter, and we could not be more excited to soon join this wonderful community in West Hartford.”

Vietnamese Ask for Fraudster’s Extradition

The Daily: New Education Centers, Vietnamese Ask for Fraudster’s ExtraditionOver 1,000 people have signed a Change.org petition asking for the extradition to Vietnam of Le Minh Tam, the CEO of Ho Chi Minh City-based crypto mining scheme Sky Mining. The petition claims that the alleged fraudsters behind the company “invited 5,000 persons with each investment package from $500 to $5000. They used money to buy machine to get Bitcoin and promised to share the profit with investors. But finally, they escaped with all money, estimated $36 million dollars. Their Victims are not only in Vietnam but also in Japan, Africa. Some of the victims borrow money or sold estate to invest, so now lose everything and someone had killed themselves. Cheaters buy house in San Jose California and now stay in Atlanta or Germany. We need them come back to Vietnam to solve problem. Please Expel them from your countries!” According to local media reports, the Vietnamese police said that Tam left the country on July 22 and flew to Doha, Qatar.

Kickico Update

Kickico, which recently recovered 70 million stolen KICK tokens following a hack, has promised to compensate all stolen KICK tokens and soon begin transferring funds to users’ wallets. The team has also reportedly planned an airdrop of a new project’s native coin (called U.Community) to current KICK token holders, and the estimated pool value may reach $40 million. “It was through the vigilance and collaborative efforts of our community and team which led to such a positive result. Clearly the market has positively reacted to our handling of the situation. Together with all the support from our users, this has led to the growth of the token’s value,” said Alexander Spirin, Head of Community at Kickico.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: New Education Centers, Vietnamese Ask for Fraudster’s Extradition appeared first on Bitcoin News.

The Daily: Cars and Pizzas for Crypto in Russia, Crypto Valley in South Korea

The Daily: Cars and Pizzas for Crypto in Russia, Crypto Valley in South Korea

The wide adoption of cryptocurrencies in Russia has been put on hold after the State Duma postponed the final reading of three crypto bills for its fall session. Nevertheless, Russian companies are already planning to introduce crypto payments as soon as the regulations are in place. Among them, a major car dealer and an international pizza chain. Also in The Daily, the governor of Jeju has received support from Bitcoin.com for his efforts to create a Crypto Valley on the island. And while the South Korean province hopes to become a crypto and blockchain hub in Asia, major European banks have decided to base their blockchain initiative in Dublin.   

Also read: Hackers in High Demand, China Hires Cryptographer

Avtospetscenter and Papa John’s Prepare for Crypto Payments

With Russian parliamentarians taking vacation without keeping Putin’s July deadline for adopting comprehensive regulations for the country’s crypto space, Russian companies are left with only one option – to plan for crypto adoption after lawmakers officially recognize cryptocurrencies this fall. Two major businesses have announced their readiness to take advantage of crypto payments once they are legalized by authorities in Moscow.

The Daily: Cars and Pizzas for Crypto in Russia, Crypto Valley in South KoreaOne of Russia’s major car dealers, Avtospetscenter (ASC), has admitted it intends to start selling automobiles for digital money. “We are thinking of selling cars for cryptocurrency. The idea is under development. If there are no obstacles in the legislation, ASC will start selling cars and providing crypto services by 2020 – 2021,” Andrey Turkin, general manager of ASC’s subsidiary Audi Center Taganka, said quoted by Bits Media.

Soon, Russians will probably be able to order pizza with bitcoin as well. “Cryptocurrency has every chance of being directly applied in our business. I think, in the future, you’ll be able to buy our pizzas with bitcoin. We have the solutions ready, but for now we are just waiting for the right moment to start it all,” Christopher Wynne, Papa John’s President for Russia, CIS and Poland, revealed in an interview with TASS.

Governor of Jeju With Bitcoin.com Wallet

Won Hee-ryong, the governor of Jeju in South Korea, has presented some ambitious plans for his province and they involve cryptocurrency adoption with the help of Bitcoin.com and Bitcoin Cash (BCH). Won wants to turn Jeju Island into Korea’s Crypto Valley and has already made proposals for that to the country’s National Assembly.

The Daily: Cars and Pizzas for Crypto in Russia, Crypto Valley in South KoreaDuring the Huobi Carnival in Seoul this week, Won Hee-ryong met with Bitcoin.com CEO Roger Ver who promised to contribute to the realization of the project and support the efforts of the governor. Prior to their conversation, Mr. Ver showed Mr. Won how to download and install the Bitcoin.com wallet on his smartphone, Blockinpress reported.

The opening of Jeju to various projects from around the world will help the development of the crypto and blockchain technology, Roger Ver noted. He also said that people from the crypto space will discover the island as a holiday destination. “I will support Jeju to become a prosperous blockchain hub,” Mr. Ver emphasized and revealed he is planning to visit the island next month.

The Daily: Cars and Pizzas for Crypto in Russia, Crypto Valley in South KoreaWon Hee-ryong accepted the offered help and added: “As Mr. Roger Ver said, Jeju is an international tourist destination with a good environment to become a blockchain hub.” He also noted that the island has a special, autonomous status that can help solve regulatory issues which haven’t been solved at national level.

Top Euro Banks Choose Dublin for Their Blockchain Initiative

An alliance of nine leading European banks has chosen the Irish capital as a base for their blockchain initiative, local media reported. The We.trade group, formerly Digital Trade Chain, includes major financial institutions from the Old Continent such as Deutsche Bank, HSBC and Santander. The consortium was founded in 2017 to explore and develop blockchain technologies for carrying out transactions between banks and their clients. The platform is currently used for trades among 11 European countries.

After a period of development and testing, the participating banks are now working to onboard more clients, revealed We.trade’s Chief Operating Officer, Roberto Mancone, former head of the disruptive technologies division of Deutsche Bank. “It’s no longer a proof of concept, it’s no longer an experiment, the platform is now made available to the clients,” he said, adding that they can find counterparts in other countries and start trading using the platform to create smart contracts, finance invoices or make payments.

Days after We.trade’s announcement, a European blockchain body expressed concerns over the lack of legal clarity in regards to the implementation of blockchain technologies and the application of EU’s General Data Protection Regulation law (GDPR). The EU Blockchain Observatory and Forum warned that the new rules which went into effect recently are actually threatening innovation in the space.

“As long as the legal framework around personal data and blockchain remains unclear, entrepreneurs and those designing and building blockchain-based platforms and applications in Europe face massive uncertainty. That can put a brake on innovation,” the organization said in a report titled “Blockchain Innovation in Europe”. One of the main concerns stems from the incompatibility between the right of individuals under GDPR to request their personal data to be deleted and the immutability of data stored on a blockchain.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, Blockinpress.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post The Daily: Cars and Pizzas for Crypto in Russia, Crypto Valley in South Korea appeared first on Bitcoin News.

The Daily: Hackers in High Demand, China Hires Cryptographer

The Daily: Hackers in High Demand, China Hires Cryptographer

Traders in the US, Russia and China are the most common victims of cyberattacks targeting cryptocurrency exchanges as you’ll discover in this edition of The Daily. Another study has found that the demand for services provided by hackers is much higher than what’s currently on offer. The same can be said for experts in cryptography: China is now hiring a crypto specialist for one of its censorship agencies but Chinese citizens have already found a way to circumvent censorship using blockchain transactions.

Also read: Coinbase Introduces GBP Pairs, Hitbtc Adds EURS, Bitpanda Offers EOS

American, Russian, Chinese Traders – Common Victims of Cyberattacks

The Daily: Hackers in High Demand, China Hires CryptographerUsers of cryptocurrency trading platforms in the United States, Russia and China have been the most common victims of cyberattacks, according to a new study conducted by Russian cybersecurity experts. They have found that between 2016-2017, cases in which private data of people using crypto exchanges was compromised have increased almost 5-fold, or by 369%.

The record was set in January 2018 when the number of incidents rose by close to 700% in comparison with the monthly average from 2017, the cyber-forensic company Group-IB said in a recently released report. Its specialists believe the vast majority of breaches are due to the careless attitude of customers towards their own security.

According to Ruslan Yusufov, project manager at Group-IB, the wave of scams, the increased attention from hacker groups, the modification of malware programs, and the significant amounts of stolen funds indicate that the crypto industry is not yet ready to protect itself and its users. His company also notes that the infrastructure used by cybercriminals is mainly based in the US (56.1%), the Netherlands (21.5%), Ukraine (4.3%), and Russia (3.2%).

Demand for Hackers Exceeds Supply of Services

The demand for services only hackers can provide significantly exceeds the supply, according to another study in the field. Experts from a company called Positive Technologies have tried to gauge the market by analyzing a number of websites offering these “specialized services.” They found that the malware programs created by hackers were three times less than the orders.

The authors of the study have analyzed more than 10,000 ads offering or seeking services related to the development of malicious software which have been published by 25 English and Russian language websites on the darknet, Vedomosti reports. Talking about the demand, in 32% of the cases, customers were looking for help in cracking an email, and 6% for hacking a social media account. An equal number of hackers, 33%, have responded to both types of requests.

The Daily: Hackers in High Demand, China Hires Cryptographer

In 2017, when crypto markets were spiking, the most popular malware was of the kind designed to secretly mine cryptocurrencies. 20% of the malicious software offered falls into that category, the study notes. The analysts say that almost a quarter of all cyberattacks in Q1 of 2018 have been conducted using such programs. Ransomware attacks account for 12% of the total.

According to another report by Bleepingcomputer, security researchers have recently detected a massive cryptojacking campaign targeting Mikrotik routers. The malware changes their configuration to inject a copy of the Coinhive in-browser cryptocurrency mining script in some parts of the users’ web traffic. The campaign started this week, initially in Brazil, but later targeted Mikrotik routers around the world.

Chinese Censorship Agency Hires Cryptographer

The Daily: Hackers in High Demand, China Hires CryptographerWhile hackers are in high global demand, the People’s Republic of China is looking to hire a cryptographic specialist for one of its censorship agencies. The job posting published by the Chinese Public Broadcasting Research Institute under the State Administration of Radio and Television states that the applicants should be competent in cryptography and ready to “follow the advanced technologies in the field of blockchain and cryptocurrency.”

According to the ad, the best candidate for this particular position should be a tech specialist with knowledge and skills in cryptographic algorithms and optimization. The scope of his or her duties includes monitoring and developing tools to analyze the threats stemming from different cryptographic applications.

Blockchain Used to Circumvent State Censorship

The Daily: Hackers in High Demand, China Hires CryptographerNot much has been said about the blockchain-related responsibilities of the future employee but the news of the posting coincides with a scandal involving the use of a distributed ledger to circumvent the state-mandated censorship in China.

According to media reports, Chinese citizens have recently used the Ethereum network to share information about a rabies vaccine that has been distributed by the Changchun Changsheng Biotechnology company, despite not meeting state standards.

A blogger named “Beast” posted about the case with faked data for more than 110,000 doses of the vaccine. His and other reports have been deleted by the Chinese internet monitors but the story has since spread on the social media network Wechat. Chinese internet users also found a way to share and protect the information by adding it to the public blockchain of Ethereum. A user sent an ETH microtransaction and added the post in its metadata typically used for accompanying notes that everyone can read but no government can delete.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


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The Daily: NFL Players to Earn Crypto, McDonald’s Unveils Maccoin, Bill Clinton at Swell

The Daily: NFL Players to Earn Crypto, McDonald's Unveils Maccoin, Bill Clinton at Swell

In today’s edition of Bitcoin in Brief we cover the stories about how NFL players can start to earn some extra cryptocurrency, McDonald’s latest publicity stunt called Maccoin, former US president Bill Clinton to speak at Swell by Ripple, and Binance’s acquisition of Trust Wallet.

Also Read: Security Researchers Attack McAfee-Backed Wallet for “Unhackable” Claims

NFL Players to Earn Crypto

As we reported earlier this year, the athletes of the American National Football League (NFL) have been educating themselves about bitcoin investments for a while now. And now they have a new way to earn some cryptocurrency on the side. The NFL Players Association (NFLPA) has acquired a minority stake in the Sportscastr, a live-streaming platform.

Through this partnership, players will provide live commentary on sports events and earn Fanchain, the native token of the platform. Fans can spend these tokens to unlock premium NFL player content (such as back-stage access), purchase sports tickets or merchandise, and send virtual gifts to NFL players. As part of this agreement, Sportscastr becomes an official licensee of the NFLPA in the categories of mobile apps and web-based platforms. It is the eighth active NFLPA partner secured through the One Team Collective, which is designed to give early stage companies the opportunity to leverage the NFLPA’s exclusive group player rights, in exchange for equity.

McDonald’s Unveils Maccoin

The Daily: NFL Players to Earn Crypto, McDonald's Unveils Maccoin, Bill Clinton at SwellIt seems that ad execs really know how to reach all the kids these days, just launch a coin. At least that is what seems to be their thinking. To celebrate the 50th anniversary of the Big Mac, McDonald’s has announced the Maccoin, a “limited edition global currency” backed by the Big Mac. If this type of bitcoin-mimicking publicity stunt sounds familiar, you must be thinking about Bacoin, which Oscar Mayer launched just a few months ago as the “first-ever cryptocurrency backed by bacon.”

Beginning at lunch time on August 2, customers can receive a Maccoin with the purchase of a Big Mac at 14,000 participating restaurants across the US. Starting on August 3 through 2018, customers can redeem their Maccoin for a free Big Mac at participating McDonald’s restaurants in the US and in more than 50 participating countries. More than 6.2 million Maccoins will be distributed globally in over 50 countries while supplies last.

Bill Clinton to Speak at Swell

The Daily: NFL Players to Earn Crypto, McDonald's Unveils Maccoin, Bill Clinton at SwellRipple, which holds a fortune in its own XRP token, knows how to spend its money wisely – celebrity appearances. First it brought the rapper Snoop Dogg to an event and now it signed up Bill Clinton to Swell. The company has announced that the 42nd President of the United States will be the keynote speaker at its 2018 conference in San Francisco. And for extra brownie points, Ripple also announced it partnered with Raising Malawi, the non-profit foundation of the singer Madonna, to raise funds for orphans across the southeast African country.

Binance Acquires Trust Wallet

The Binance exchange has announced it has completed the acquisition of Trust Wallet in an effort to provide a better service for its users. Trust is an open source mobile wallet app launched in November 2017 that supports over 20,000 different Ethereum-based tokens (ERC20, ERC223 and ERC721). The exchange explained that the acquisition will add an on-chain mobile wallet to its list of services with other future integration possibilities, and that the Trust Wallet team will retain the autonomy to develop the core product. “As a technology driven company, Binance’s acquisition of Trust Wallet shows the importance of secure wallet technology for the future development of cryptocurrency as a whole. As Binance’s first public acquisition, we hope to continue providing our users with improved security, services and support.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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The Daily: Bitcoin Sceptics, Bitmain Gets Richer, Twitter Bots Subside

The Daily: Bitcoin Sceptics, Bitmain Gets Richer, Twitter Bots Subside

In today’s edition of Bitcoin in Brief it seems that Twitter is starting to get a grip on the impersonator bots that have dogged the platform all year. We’ve also got news of a crypto meetup that’s only for sceptics, and it turns out that Bitmain is even richer than anyone thought.

Also read: Bitcoin ETF Rejection Sparks Firm’s Public Protest

Bitmain Adds a Couple Billion to Its Valuation

As we reported earlier this month, Chinese mining behemoth Bitmain has been valued at $12 billion ahead of its IPO. That figure has now been revised upward, with another $2 billion added to its price tag. Fortune reports how Bitmain pulled in a profit of $1.1 billion in Q1 of 2018 alone. To place that in context, the total value of all BTC mined in the same period was around $1.3 billion. It seems there really is more money in selling shovels than in chasing digital gold. There’s no official date for Bitmain’s IPO yet, other than that it’s coming “very soon”.

Winning the Battle Against Twitter Bots

What’s Going On with @Bitcoin Twitter?Twitter bots, which have plagued the network all year, imitating influencers and conning the gullible out of their ether, appear to be waning. While it is to early to declare victory, Twitter has been moving faster to shut down copycat accounts. Previously, reporting fake accounts required that the complainant verify their own identity using ID before Twitter would take action. A number of users have reported less bot activity in their tweet replies, where the scammers usually congregate. It seems all those @’s directed at Jack Dorsey in recent weeks have been heard.

The Crypto Meetup for Sceptics

Ever since bitcoin’s inception, grassroots meetups have sprung up around the world as a means of uniting fellow crypto believers and educating the curious on the wonderful world of bitcoin. The organizers of such events are inherently bullish on cryptocurrency, as you would expect, but there’s an exception to that rule. Fudsters United is a Brooklyn meetup for those who are “skeptical about blockchain, cryptocurrency, Tether, forks, and the get rich quick proposition in the crypto bubble…We will discuss the shady participants, shady exchanges, blatant scams, ICOs, market manipulation, and hyped up news that fuels the mania surrounding crypto.” Bitcoin pessimists in the area are invited along to share drinks while spreading FUD with like-minded crypto bears.

The Daily: Bitcoin Sceptics, Bitmain Gets Richer, and Twitter Bots Subside
Fudsters United

Software Company Perfectial Starts Accepting Crypto

Perfectial, a large software company with offices in the US, UK, and Ukraine, has announced that it’s accepting cryptocurrency payments in the form of BTC, ETH, and LTC. “We expect this payment method to be a more fitting option for companies that have received funding with crypto assets as it will allow them to avoid making a conversion,” said Ivan Kohut, the company’s CTO and co-founder. “Cryptocurrencies are borderless money that allows making our services reachable. On top of that, they help to circumvent certain limitations that conventional payment systems like Paypal have.”

Bitsong Plans a Blockchain-Based Music Streaming Platform

The Daily: Bitcoin Sceptics, Bitmain Gets Richer, and Twitter Bots SubsideBitsong is the latest project attempting to bring music to the blockchain with the goal of eliminating intermediaries. As with most projects of this nature, the aim is to enable artists to maximize their earnings and to control the distribution of their work. It’s going to have its work cut out in dethroning the music streaming incumbents, but having signed up a bunch of solid artists and DJs so far, Bitsong seems confident that it can succeed where others have faltered.

What is Bitcoin?

What is bitcoin to you – electronic cash? A store of value? Digital gold? Something else entirely? A widely shared post this week by Nic Carter has tracked the many different hats bitcoin has worn over the years. Many of these designations overlap, and it would be fair to say that bitcoin (be it BTC or BCH) means different things to different people. Visions of Bitcoin lays out the primary roles that have been assigned to bitcoin to date. Given the rate at which cryptocurrency evolves, it’s possible that bitcoin could yet take on many more mantles in the years to come.

The Daily: Bitcoin Sceptics, Bitmain Gets Richer, and Twitter Bots Subside
How bitcoin’s interpretation has evolved over the years

What stories caught your eye from today’s Bitcoin in Brief? Let us know in the comments section below.


Images courtesy of Shutterstock, Fudsters United, and Nic Carter.


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The Daily: Secret Nasdaq Meeting, SALT Takeover Offer, Vitalik Wants More Cards

The Daily: Secret Nasdaq Meeting, SALT Takeover Offer, Vitalik Wants More Cards

In today’s edition of Bitcoin in Brief we cover a secret meeting at Nasdaq, a takeover bid for crypto-as-collateral loan platform SALT, Vitalik Buterin’s thoughts on the importance of enabling small retail transactions, and why Chinese investors come to Israel to find blockchain startups.

Also Read: Largest Cannabis Market in Israel to Accept Bitcoin Payments

Exchanges Meet With Nasdaq in Secret

The Daily: Secret Nasdaq Meeting, SALT Takeover Offer, Vitalik Wants More CardsAbout six companies, including both Bitcoin exchanges and legacy venues, have taken part in a “closed-door meeting” with Nasdaq last week in Chicago. The apparent purpose of the meeting was the stock market giant’s intention to help legitimize cryptocurrency investments in the eyes of US regulators and big banks by reducing users’ anonymity and privacy. The main topic, according to “a person familiar with the event” cited by Bloomberg, was to “encourage the industry to do things that will improve its image and validate its potential role in global markets.” They talked about the implications of new regulation for cryptocurrencies, what are the needed tools for that and “what surveillance will be needed.” And there will be the more such meetings as part of “an ongoing dialogue among the participants,” the source added.

Nasdaq has reportedly confirmed the meeting took place but did not disclosed who took part in it. The company is officially supplying technology to five crypto exchanges, two of which are known to be SBI Virtual Currencies and Gemini, which hired Nasdaq to conduct surveillance on its trading. It also helps price Cboe Global Markets Inc.’s Bitcoin futures.

SALT Takeover Offer

The Daily: Secret Nasdaq Meeting, SALT Takeover Offer, Vitalik Wants More CardsSecured Automated Lending Technology (SALT), a membership-based crypto-as-collateral loan platform which in February suspended registrations, requests, and purchases, has recently seen its CEO leaving unexpectedly. This has sparked speculations and rumors about the viability of the platform, and even triggered accusations of the former CEO pulling an exit scam. Competitors have been quick to pounce on the matter, issuing statements meant to convince investors to switch over. The most interesting move came from Nexo, who graciously offered to take over certain assets of SALT in an unsolicited acquisition bid.

“Nexo is concerned with the latest developments at SALT due to their potentially detrimental influence on the sentiment of investors and borrowers in the crypto‐backed lending industry, as well as the blockchain community in general,” Nexo wrote in a letter of intent to SALT Lending. “In order to mitigate the consequences, Nexo, its partners and affiliates could readily acquire remaining qualifying assets of SALT and provide liquidity to its community.”

Vitalik Wants More Bitcoin Cards

The Daily: Secret Nasdaq Meeting, SALT Takeover Offer, Vitalik Wants More CardsThe issue of using cryptocurrencies for real-world payments rather than just new Wall Street investment options has been diving the community for a long while now. The latest to comment on the subject is Ethereum founder Vitalik Buterin, who seems to side with the pro-payments camp in the argument. The influential influencer twitted on Sunday: “I think there’s too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores. The former is better for pumping price, but the latter is much better for actual adoption.”

Chinese to Invest in Israeli Crypto Startups

The Daily: Secret Nasdaq Meeting, SALT Takeover Offer, Vitalik Wants More CardsBlock72, which operates out of Shangahi, Beijing, Seoul and New York, has partnered with the Asia Israel Blockchain Association (AIBA). The partnership aims to incubate Israeli projects and help Chinese companies with their deal sourcing, expansion and global presence. Its stated goal for 2018 is to support at least five Israeli projects to tap into the Chinese market and to bring several Chinese companies and investors to Israel. A delegation to Israel will take place on the first week of August.

Yaxi Zhuo, Founder and CEO of Block72, commented: “Israel is a powerhouse for new technology, it has been a long time that our portfolio projects asked us to tap into the opportunities in Israel, one of the most vibrant Blockchain markets in the world. We waited for the right time and the right partner to make the move. We already have offices in China, US, and Korea, and now I’m very pleased to have AIBA as our local partner, supporting us to further bridge Asia and Israel.”

For a start, the partnership is focusing on Coin XP, a blockchain infrastructure for crypto exchanges; Nuts, a crypto asset market protocol for hosting crypto assets; Teex, a private smart contract on public blockchain; and Vpon, a big data ad technology company.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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The Daily: US Presidential Candidate Accepts Crypto, KICKICO Hacked – $7.7M Stolen

The Daily: US Presidential Candidate Accepts Crypto, KICKICO Hacked - $7.7M Stolen

US presidential candidate, Andrew Yang (D), has announced that his campaign for the 2020 election is now accepting cryptocurrency donations. Also in the Daily, Chinese social network, Tianya, is about to issue a native token, and the KICKICO project has been hacked – resulting in the loss of $7.7 million USD worth of tokens due to a security breach of its smart contract.

Also read: Twitter Blocks Bots Mimicking Musk, Coinvault Hackers Sentenced

Yang 2020 Campaign Accepts Bitcoin and Any ERC20

US Democrat Andrew Yang’s campaign is now accepting donations in Bitcoin Core (BTC), Ethereum (ETH), and other cryptocurrencies for the 2020 US presidential election. Yang announced the news on Twitter calling on his supporters to “build the future together.”

The announcement released by his team to “our crypto donors” reads: “We currently accept Bitcoin and anything on the ERC20 standard.” It also comes with instructions on how to donate cryptocurrency and notes that the maximum for individual donations is set at the fiat equivalent of $2,500.

Yang believes in cryptocurrencies and blockchain technology, and has already declared that he sees them as a potential catalyst for socio-political change. He has also previously stated on social media that a “smart government” should embrace cryptocurrency technology:

During a Facebook AMA I was asked about crypto and blockchain. I think the technology has massive potential to create a more transparent society. A smart government would embrace this and work with it. I would do that.

Chinese Social Network Tianya to Issue Native Token

Tianya Club, one of the most popular social networks and online forums in the People’s Republic, has announced it will launch its native Tianya Token (TYT) on August 8. According to a post published on its blog, TYT will be the only means of accounting in its blockchain-based community ecosystem. Tianya.cn is among the most visited websites in China, ranking in the top 20 of the Chinese Internet.

The Daily: US Presidential Candidate Accepts Crypto, KICKICO Hacked - $7.7M Stolen

The number of tokens that the company is planning to release is limited to 90 billion. The users of the platform will receive TYT awards based on their contribution to the community. The coin will be used as a medium of exchange and a means of payment underpinning various transactions and payments within the community.

Tianya also plans to keep 20% of the new tokens for team incentives, ecological development investments, and operation promotion – depending on the needs of the community. The other 80% will be used for community rewards, incentives for users to participate in content creation and community governance, and rewards to original content creators and independent contributors.

KICKICO Hacked, Coins Worth $7.7M Stolen

The Daily: US Presidential Candidate Accepts Crypto, KICKICO Hacked - $7.7M StolenKICKICO, an ICO project based on the Ethereum protocol, has admitted experiencing a security breach in which the attackers gained access to the account of the KICK smart contract. The company announced that its team has been notified about the hack by victims who reported that they were not able to find tokens worth $800,000 USD in their wallets.

According to an investigation launched probing the hack, the total amount of stolen funds is 70,000,000 KICK – equal to $7.7 million USD at the exchange rate at time of the announcement. KICKICO claims that it has already restored full control over the smart contract and promises to return all stolen Kickcoins to their holders.

Providing more details about the attack, the company explains that the hackers gained access to the private key of the owner of the Kickcoin smart contract. They also attempted to hide their activities by employing methods used by the contract in integration with the Bancor network. Earlier this month, the decentralized exchange was also breached, as news.Bitcoin.com reported.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


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The Daily: Twitter Blocks Bots Mimicking Musk, Coinvault Hackers Sentenced

The Daily: Twitter Blocks Bots Mimicking Musk, Coinvault Hackers Sentenced

In Friday’s edition of The Daily, Twitter has taken measures against crypto scammers imitating the profile of Tesla’s CEO Elon Musk and a Dutch court has sentenced the operators of the Coinvault ransomware. Also, crypto has been labeled as ‘junk’ by Mastercard CEO Ajay Banga, and Wirex has reported $2 million worth of XRP deposited to its crypto debit card after announcing support for ripple.

Also read: Skrill Launches Crypto Trade, Luxury Market Reaches $100M Transactions

Twitter Blocking Bots Imitating Musk

The Daily: Twitter Blocks Bots Mimicking Musk, Coinvault Hackers SentencedTwitter is trying a new strategy to address the issue with the numerous crypto scammers on the social network. The microblogging platform is now automatically locking any unverified account that changes its display name to Elon Musk, the CEO of Tesla and Spacex. Access to a blocked account can be restored only after passing a CAPTCHA test and providing a valid phone number, The Verge reported.

“As part of our continuing efforts to combat spam and malicious activity on our service, we’re testing new measures to challenge accounts that use terms commonly associated with spam campaigns. We are continually refining these detections based on changes in spammy activity,” a Twitter spokesperson commented. The company has declined to confirm if the policy is applied to other accounts.

The measure is meant to mainly combat the growing number of bots that are active on Twitter and imitate Musk’s profile to scam people by replying to his tweets. This means that once a user confirms the authenticity of their account according to the procedure, they can keep the display name as Elon Musk. Most scam bots operate by automatically replying to tweets from high profile figures, often promising giveaways or investment opportunities. Earlier this month, Elon Musk himself posted a comment showing that he is impressed with the skills of the scammers.

Coinvault Operators Sentenced to Community Service

The Daily: Twitter Blocks Bots Mimicking Musk, Coinvault Hackers SentencedA court in the Dutch city of Rotterdam has ordered 240 hours community service for two brothers responsible for spreading and operating the Coinvault ransomware. The pair have been accused of hacking into the personal computers of almost 1,300 victims in several countries including the Netherlands, the UK, France, and Germany.

The two men, who had clean criminal records prior to their arrest, were spared prison sentences after they agreed to cooperate with the police investigation. However, they will have to pay compensation to several victims in addition to the community service they must perform.

Coinvault is based on Microsoft’s .NET framework. It encrypts system files and then decrypts a single file before demanding ransomware payment in bitcoin (BTC). The malware was first discovered in 2014, when its operators demanded one bitcoin in return for a decryption key. At the time, 1 BTC was worth around €220. Investigators believe the two men have received about 20,000 euros from their victims.

Mastercard CEO Labels Crypto as ‘Junk’

The Daily: Twitter Blocks Bots Mimicking Musk, Coinvault Hackers SentencedAn “anonymized” currency that can fluctuate wildly does not deserve to be considered as a medium of exchange, according to Mastercard President and CEO Ajay Banga, who called cryptocurrency “junk.” The head of the global payment processor is also concerned that 95 percent of the illegal transactions conducted on the dark web, including credit card and social security fraud, are paid for in cryptocurrency.

“I think cryptocurrency is junk. The idea of an anonymized currency produced by people who have to mine it, the value of which can fluctuate wildly – that to me is not the way that any medium of exchange deserves to be considered as a medium of exchange,” the India-born executive said, quoted by the Business Standard. He was responding to a question he was asked during a lecture organized by the Indian Consulate in New York together with the US-India Strategic Partnership Forum (USISPF).

Despite Banga’s comments, the credit card giant is believed to be keeping its crypto options open. It was reported earlier this year that the company would consider facilitating digital coins but only fully-regulated, central bank-issued, and non-anonymous. Mastercard has also applied for several crypto-related patents. In June, it became known that its filings include a patent for anonymous distributed ledger transactions via a third party processor. This month, it was announced that the payments behemoth has patented a method to manage cryptocurrency “fractional reserves.”

$2 Million Worth of XRP Deposited to Wirex Accounts

The Daily: Twitter Blocks Bots Mimicking Musk, Coinvault Hackers SentencedWirex, the major provider of crypto debit cards in Europe which announced this month it is adding support for ripple (XRP), has already registered over $2 million worth of XRP deposited into the wallet which is connected to its Wirex Visa cards. The company has also reported having 1.5 million users and announced a transaction volume of approximately $1.7 billion USD.

Wirex cards, offered in both plastic and virtual variants, are available within the European Economic Area which is a huge potential market. The company was the first to reintroduce crypto debit cards in Europe after they were suspended by Visa last year. It started shipping its new plastic cards to customers in the UK and the EU in May this year.

The plastic cards offered by Wirex come with a chip and support also bitcoin (BTC), litecoin (LTC) and instant currency exchange with GBP, USD, and EUR. The virtual Visas provide for the opportunity to deposit and exchange over 50 digital coins through the Wirex wallet.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, Michael Novogratz (Twitter).


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The Daily: Exchange Operator Pleads Guilty, Scammer Fined Over $1.9 Million

The Daily: Exchange Operator Pleads Guilty, Scammer Fined Over $1.9 Million

In today’s edition of Bitcoin in Brief we cover a number of stories related to crime from around the cryptosphere: an exchange operator pleads guilty to securities fraud, a scammer is fined over $1.9 million for bitcoin and binary options fraud, police get a crypto course and a new type of ransomware attack is discovered.

Also Read: EU Study: International Nature of Cryptocurrency Markets Is a Challenge for Regulators

Exchange Operator Pleads Guilty

Jon E. Montroll, a 37-year-old from Texas which was arrested by the FBI for trying to cover up massive client losses after his exchange was hacked, pleaded guilty to one count of securities fraud and one count of obstruction of justice on Monday. Each charge carries a maximum penalty of 20 years in prison. Montroll operated two bitcoin services, Weexchange which functioned as a bitcoin depository and currency exchange service, and Bitfunder which facilitated the purchase and trading of shares of businesses that listed on the platform. During the summer of 2013, hackers stole approximately 6,000 bitcoins from Weexchange, and, as a result, the two ventures lacked the bitcoin necessary to cover what was owed to users, which he tried to hide.

Manhattan U.S. Attorney Geoffrey S. Berman said: “Montroll deceived his investors and then attempted to deceive the SEC. He repeatedly lied during sworn testimony and misled SEC staff to avoid taking responsibility for the loss of thousands of his customers’ bitcoins.”

Scammer Fined Over $1.9 Million

The Daily: Exchange Operator Pleads Guilty, Scammer Fined Over $1.9 MillionA federal court has ordered Dillon Michael Dean of Colorado, and his UK-registered company The Entrepreneurs Headquarters Limited (TEH), to pay over $1.9 million in civil monetary penalties and restitution. A judge found that Dean engaged in a fraudulent scheme to solicit bitcoin from the public, lied that customers’ funds would be invested in products including binary options, and misappropriated clients’ funds. He also failed to register with the CFTC as a Commodity Pool Operator.

According to the findings, from approximately April 2017 to January 18, 2018, Dean solicited at least $499,264.04 worth of bitcoin from at least 127 members of the public. He promised to convert this into fiat and invest it on customers’ behalf in a pooled investment, including trading binary options on an online exchange. He lured victims by false claims of trading expertise and promises of high returns in Youtube videos and Facebook posts. But he never actually engaged in trading on behalf of customers, and his purported trading profits were fictitious.

Porn Ransomware?

The Daily: Exchange Operator Pleads Guilty, Scammer Fined Over $1.9 MillionThe Israeli police has announced that its cyber investigators have identified a new type of ransom attack targeting online porn viewers. The warning to the public explained that in recent weeks there have been a number of complaints about ransom demands via e-mail. The messages said that the recipient’s computer had malware installed, which activated the camera to film when vising a site displaying sexual content. In order to avoid the distribution of the allegedly filmed videos to all his contacts, the recipient was required to pay a ransom in bitcoin. The message included the recipient’s e-mail and password to give it credibility. However, the investigators found out that the threats were not really backed up by videos and that the e-mail addresses and passwords were taken from old sites that contained hacked e-mail addresses.

London Police’s Crypto Course

The Daily: Exchange Operator Pleads Guilty, Scammer Fined Over $1.9 MillionA City of London Police spokeswoman has confirmed the launch of a new cryptocurrency course at their Economic Crime Academy. “It is designed to provide delegates with the skills and knowledge required to recognise and manage cryptocurrencies in an investigation. On successful completion of this course, participants will understand how to detect, seize and investigate the use of cryptocurrencies in an investigative context. It will be the first of its kind and has been developed in response to feedback from police officers nationally who felt there wasn’t enough training available in this area.” She also added that a pilot of the course was already conducted, and another is planned for August.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Exchange Operator Pleads Guilty, Scammer Fined Over $1.9 Million appeared first on Bitcoin News.

The Daily: Minsk Mulls Rules for Exchanges, Qiwi Awards Employees with Tokens

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with Tokens

In today’s Bitcoin in Brief, Belarus, which legalized crypto activities this spring, is now turning its attention to adopting standards for companies operating crypto exchanges and issuing tokens. We’ve covered the decision of the Russian payment provider Qiwi to motivate its employees with tokens. The Daily also features crypto news from China and Canada.

Also read: Anti-Crypto Politician Backed by Payments Firm, Grayscale Raised $250m in H1

Belarus Working on Standards for Crypto Exchanges

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with Tokens
Belarus Hi-Tech Park

Having legalized crypto-related activities earlier this year, Belarus is now fine-tuning and expanding the regulatory framework. The Hi-Tech Park in Minsk (HTP) is currently developing standards for companies operating crypto exchanges and providers of services related to issuing and placement of tokens. According to media reports, state bodies and representatives of the legal and tech communities in the country are involved in the process.

The new set of rules and regulations is intended to supplement the basic framework outlined in the presidential decree “On the development of the digital economy”, which entered into force on March 28, Denis Aleinikov, senior partner at a Belarussian law firm, told Forklog. He shared details on the progress so far: “We’ve established that a token is not a security […]. Any organization is allowed to issue and sell tokens through residents of the High-Tech Park.”

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with Tokens

The legal expert added that entities in the field will be obliged to prove charter capital of at least $500,000. The standards will also regulate the activities of HTP residents and detail the requirements for those that want to issue and trade digital tokens. The Hi-Tech Park is actively participating in the process after it was granted right of legislative initiative with another presidential decree in June.

Payment Provider Qiwi to Award Employees with Tokens

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with TokensThe blockchain subsidiary of the Russian payment provider Qiwi plans to supplement the salaries of its employees with awards paid in tokens. The motivational program will be launched by Qiwi Blockchain Technologies in the second half of 2018 and will be based on the Russian Masterchain platform. Several dozens of employees will receive their awards in QBT tokens by the end of the year. The subsidiary plans to allocate up to 50 percent of its profit to the program.

The tokens will be divided into two categories. Part of them will come with voting rights, allowing their holders to participate in different company decisions. Employees won’t be able to exchange the tokens for fiat money but will have the opportunity to convert them to corporate bonuses. According to Konstantin Koltsov, Director for Corporate Affairs, the system will allow employees to be directly involved in the company’s development. Qiwi also plans to create a blockchain-based HR platform.

Companies with ‘Blockchain’ in The Name Surge in China

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with TokensIt’s no secret that adding “crypto” or “blockchain” to the name of a company comes with some image benefits. Since cryptocurrencies are not favored by authorities in Beijing, Chinese companies from the crypto sector have been left with only one choice. As a result, China has seen a sixfold increase in the number of new firms registered with “blockchain” in their names, The South China Morning Post reported.

According to an estimate based on government data gathered by Qixin.com, there are now more than 4,000 Chinese companies that identify with blockchain. Over 3,000 firms registered since January use the Chinese translation of the term describing the distributed ledger technology behind cryptocurrencies like bitcoin – “qukualian”. In comparison, their number for the whole 2017 was only 555.

The analysis of the official data has produced another interesting finding – 16,600 companies that were established within the past 12 months had “blockchain” listed as part of their lines of business. SCMP comments that despite the reservations of the Beijing government on crypto exchanges, coin offerings and mining, the interest towards the technology in China remains strong.

Bitcoin Ownership and Awareness Increase in Canada

The Daily: Minsk Mulls Rules for Crypto Exchanges, Qiwi Awards Employees with TokensA survey conducted by the Bank of Canada has detected a twofold increase in the number of people owning bitcoin (BTC) over 12 months. About half of crypto owners said they regularly use bitcoin to buy goods and services or transfer money. The Bitcoin Omnibus Survey was carried out in December, when the prices of cryptocurrencies reached all-time highs, but the results were published recently.

According to another study, “Bitcoin Awareness and Usage in Canada: An Update”, the awareness of Canadians about bitcoin increased from 64 to 85 percent during the same period. The authors also found that the residents of the predominantly francophone province of Quebec were the most Bitcoin-aware citizens.

Meanwhile, the province’s state-owned power company Hydro-Québec has been allowed to charge crypto miners and blockchain promoters increased rates until regulations for the industry are introduced. Régie de l’énergie du Québec, the local energy sector regulator, has recently accepted most of the new Hydro-Québec’s demands. A rate of 15 cents (CAD) per kWh, double the tariff for residential clients, will be applied.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, HTP.


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