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Showing posts from July, 2020

Coinbase Reviewing 19 Crypto Assets for Listing, Including Wrapped Bitcoin and Paxos Gold

Crypto exchange Coinbase said Friday that it is reviewing 19 cryptocurrencies for possible listing. These new assets are: Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, Theta, Uma, and Wrapped Bitcoin (WBTC). Coinbase said the review process includes “significant technical and compliance review and may be subject to regulatory approval in some jurisdictions.” There’s no guarantee that crypto assets under review will gain automatic listing. “[Our] goal is to offer support for all assets that meet our technical standards and which comply with applicable laws,” said the U.S. exchange, in a blog post . “As per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations. The omission of assets from this publication does not disqualify any such asset from active review and potential list
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Federal Agents Arrest Suspected 17-Year-Old Twitter Hack ‘Mastermind’ in Florida

On Friday a 17-year-old Tampa teenager was arrested in Florida for allegedly being the “mastermind” behind the July 15 Twitter hack that saw a great number of high profile accounts compromised. The hack also netted roughly $120,000 worth of bitcoins by leading unknowing individuals to doubler scams. The suspect Graham Clark has been charged with over 30 felonies and was taken into custody by the FBI, Secret Service, and Florida law enforcement. On July 15, there was a massive Twitter hack where a large number of Twitter accounts were breached. The accounts belonging to many well known people included Barack Obama, Apple, Google, Joe Biden, Elon Musk, Bill Gates, and Jeff Bezos. The accounts then tweeted about a bitcoin ( BTC ) ‘giveaway’ or doubler scam and the hacker raked in $120,000 worth of BTC in one day. The public also found out that 1,000 individuals had access to an internal tool that gives someone ‘God Mode’ powers. It was also found out that someone on the inside work
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Indian Government Confirms Crypto Bill Is ‘Awaiting Approval’

The Indian government has confirmed in a Right to Information (RTI) reply that the inter-ministerial committee’s cryptocurrency bill is “awaiting approval of the government.” The bill is currently being examined by various ministries. Indian Government’s Confirmation The government of India has been sitting on a cryptocurrency draft bill since it was submitted to the finance ministry early last year. Entitled “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019,” the document was drafted by an inter-ministerial committee headed by former Finance and Department of Economic Affairs (DEA) Secretary Subhash Chandra Garg . While no formal announcement regarding the progress of the bill has been made, some media reports suggest that consultation has begun on this bill. To establish the veracity of this news, lawyer Mohammed Danish, co-founder of Crypto Kanoon, filed an RTI application with the Department of Economic Affairs. In its short reply dated July 1
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Bitcoin Trading Is Booming in Uncertain Russia, With 350% Spike in New Users on Paxful

Bitcoin trading is growing in Russia. That’s despite attempts by the government to make it difficult for investors to do so. For years, Russian lawmakers have blown hot and cold over cryptocurrency regulation, creating an atmosphere that has often left the entire digital asset industry in the country on tenterhooks. According to Paxful, Russian users joining the peer-to-peer bitcoin ( BTC ) exchange have increased by 350% over the last 12 months. New registrations have swelled to record highs month-on-month since the new coronavirus outbreak in March. The exchange said it is now seeing an average monthly trading volume of $4 million in the Eastern European country, compared to other P2P platforms. For payment, Russians prefer to use gift cards, online wallets, bank transfers, and credit or debit cards, it stated in a statement shared with news.Bitcoin.com . Anton Kozlov, Paxful’s Manager for the Russian market, said: Crisis aside, Russia has always had a monolithic banking syste
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Stablecoin Cold Storage Backed by Satoshis – Simba is a New Way of Holding Assets in Switzerland

When it comes to Switzerland, first of all, people have associations with first-class chocolate, delicious cheese, the most precise watches, multi-purpose knives and, of course, a safe place to keep money. New Way of Holding Assets in Switzerland Since the dawn of time Switzerland has been a banking paradise attracting more and more people, who want to keep their money in the country. With the growing popularity of cryptocurrencies, Switzerland has decided to enter the list of advanced countries, taking an extremely friendly position regarding digital currencies because of their great potential. It can be considered the most favourable jurisdiction for blockchain-oriented businesses at the moment. It is all caused by advanced legislation, quite low tax rates, high standard level of privacy and a developed banking industry. One of the country’s administrative centres in Zug even has its own ‘crypto valley’, named Crypto Valley Association , which task is to create the most mode
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Fidelity Digital Assets Quotes Bitcoin Creator Satoshi Nakamoto in Latest Investment Thesis

Fidelity Digital Assets (FDA) quotes Satoshi Nakamoto in its latest investment thesis report. The thesis is part of a series of reports examining the perspectives driving interest and investment in bitcoin. FDA is affiliated with Fidelity through parent company Fidelity Management & Research (FMR). One of the largest financial services corporations in the world, Fidelity has an estimated $7 trillion worth of assets under management (AUM). Commenting on its findings, FDA says it has learned that investors view bitcoin as an aspirational store of value while also noting the limited knowledge about the same by stakeholders. Additionally, FDA observes that the current investor “rationale for establishing exposure now” is premised on a belief that bitcoin “will be a much larger market if it is widely used as a store of value in the future.” This optimistic investor perception fits well with a famous Satoshi’s quote which FDA includes in this bitcoin investment thesis. Satoshi w
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Bitcoin an Option, as Dennis Gartman Says He’s Exiting ‘Crowded’ Gold Market

Gold bull Dennis Gartman is moving out of gold because the market has become “too crowded.” In an interview with Bloomberg on Thursday, Gartman said he was “social distancing” from the precious metal until such a time when the price falls to around $1,775. “Too many people all of a sudden are involved in the gold market,” he complained. “There’s only one position everybody has and that’s long…people have to be taken out of that trade.” Back in April, the popular gold investor told everyone “now is the time to buy gold.” Today, Gartman feels the market is overcrowded. “I couldn’t get too many people interested in gold…two and three years ago but now it’s on the front pages of every report that you see,” said Gartman, adding, “at this point in gold I’m neutral.” The price of gold closed at a record high of nearly $1,960 per ounce on July 28, as trading volumes surged. Some traders are reported to be switching their futures contracts for physical gold, potentially risking creating
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Bitcoin Cash Games Launches $3K Leaderboard Tournament to Celebrate the 3rd BCH Anniversary

To celebrate the third anniversary of Bitcoin Cash, the world-class gaming platform Bitcoin Cash Games is launching a leaderboard tournament worth $3k. On August 1, the Bitcoin Cash community will be celebrating the network’s third anniversary and the project has come a long way since 2017. Bitcoin cash (BCH) has garnered widespread attention, it’s the fifth-largest market by valuation, and developers have completed a number of beneficial upgrades over the last few years. BCH has solidified itself as the go-to cryptocurrency for a reliable peer-to-peer electronic cash system . At Bitcoin Cash Games we want to celebrate the third BCH anniversary so our gaming casino is launching a leaderboard with a total of $3,000 for you to win. Anyone can participate in this special promotion by playing any of these exclusive games available on the casino: Exclusive Slots, Keno and Roulette. Then the top 15 players will get a bonus reward at the end of the Bitcoin Cash Games promotion. The
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Stimulus Is Failing: Global Banks to Break Support Levels, US Dollar Plummets to 2-Year Low

Central banks worldwide have injected further stimulus into the economy, as European Union (EU) leaders recently approved a $2.1 trillion budget, the Bank of England boosted stimulus injections in mid-June, and the Federal Reserve announced on Wednesday that it would keep lending until the end of the year. Meanwhile, bank indexes show that financial institutions based in the UK, Japan, and the EU are about to break support levels that have held up since the mid-eighties. The global economy looks bleak and the world’s central banks are trying really hard to keep the monetary system from breaking even further. This week, members of the U.S. Federal Reserve met for a two day Federal Open Market Committee (FOMC) meeting to discuss the U.S. economy. Fed chair Jerome Powell told the press that the “pace of recovery looks like it has slowed” During the two-day FOMC event, Powell and the committee decided to keep the benchmark lending rate unchanged, at near zero. In addition to this move,
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‘Huge Demand in India’ Spurs Zebpay to Launch OTC Bitcoin Trading Desk

Indian cryptocurrency exchange Zebpay is launching an OTC bitcoin trading desk. The exchange has shared the details with news.Bitcoin.com, stating that “There is huge demand” among bitcoin traders and arbitrageurs in India for OTC desk services. Zebpay Sees Huge Demand for OTC Crypto Trading in India Zebpay’s OTC desk offers “deeper liquidity and private, more personalized service to institutions and individuals with large orders that might be hard to fill on an open exchange,” the exchange’s OTC page details. Customers can trade BTC against INR with a minimum order size of 5 BTC . Registration for the new service began on Saturday but the official launch date is set for Aug. 3. Nirmal Ranga, Vice President of Trade at Zebpay, has shared some details with news.Bitcoin.com about his platform’s upcoming service. “OTC constituted 90% of our total business until 2018, when the Reserve Bank of India notice came into the picture,” he described, adding: There is huge demand among trad
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Bybit presents World Series of Trading (WSOT) – 200 BTC Prize Pool up for Grabs

While movie theaters may be unusually empty this time of the year, a different kind of summer blockbuster is coming soon, one that promises to bring back the exhilaration of competitive crypto trading with up to 200 bitcoins ( BTC ) prize pool, up to 20% off trading fees and up to $9,400 in USDT bonuses. A Blockbuster Competitive Crypto Trading Tournament Crypto derivatives exchange Bybit announced today the World Series of Trading (WSOT) launch, a bi-annual global crypto trading competition. The inaugural edition of the tournament will feature a prize pool of up to 200 BTC , the largest of any crypto trading tournament by far, and run from August 10 and August 31. Registration begins today. The global event is open to traders worldwide where Bybit’s platform is available. The ranking system of WSOT is based on the profit/loss ratio, regardless of trading volume, thus paving a level playing ground for all participants. Following the success of 2019’s Bybit Games – BTC Brawl,
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Tether Prints $300 Million, While XRP Reclaims Third Spot

Tether Ltd printed a total of USDT 300 million Wednesday and this brought the total coins created to 540 million in the last three days alone. The latest USDT printing will see the top stablecoin’s market capitalization significantly passing the $10 billion mark. Responding to a whale alert twitter post, however, Paolo Ardoino the CTO at Bitfinex, explains that the latest printing is for purposes of replenishing inventory on the Tron Network. “Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests,” says Ardoino. Ardoino’s response, which came right after the alert, was immediately ridiculed by some twitter users. Others sarcastically urged Ardoino on. One Twitter user going by the handle lentejitaB asks, “Paolo is this the biggest tether mint in all Tether history?” Still, another user, Crypto Favs, compares Tether Ltd with the US Federal Reserve, which has also been printing money. Such US
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Zero Collateral: $138 Million in Defi Flash Loans Issued in 24 Hours

The decentralized finance (defi) realm continues to heat up with concepts like yield farming, but another scheme called defi flash loans has also grown exponential. On Monday, the noncustodial lending protocol Aave issued $138 million in loans with zero collateral. Since the last week of June, defi flash loans have increased by 809% as the protocol Aave is issuing anywhere between $80-100 million in flash loans per day. Data shows that Aave issued over $138 million on Monday and the pace continues to trend higher. The word “Aave” is a Finnish term to describe a ghost, as the noncustodial platform allows for lending interest rates to be guided by algorithms directed by the supply and demand. Flash loans are used for significant arbitrage opportunities and they allow people to obtain handsome loans without collateral. Data shows that Aave issued over $138 million on Monday, July 27, 2020. As news.Bitcoin.com reported a few months ago, flash loans have been leveraged in signific
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