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Digital Currency Group Pledges $100 Million to Bolster Bitcoin Mining Industry
28.8.2020
The firm Digital Currency Group (DCG) is entering the mining industry, as the firm has pledged $100 million into a cryptocurrency mining firm called Foundry. The mining company Foundry was noiselessly founded in 2019 and it aims to offer capital, consulting, and intelligence to digital assets...
Winklevoss Bros Make Case For USD 500k Bitcoin
28.8.2020
Cameron and Tyler Winklevoss, co-founders of the US-based Gemini exchange and family office Winklevoss Capital, forecast the price of Bitcoin (BTC) could reach USD 500,000, as the the US debt-to-GDP ratio is set to expand more in 2020 than it did over the entire prior decade, triggering inflation...
Zimbabwe’s Mobile Money on Life Support as Central Bank Tightens Screws: Restrictions to Affect P2P Bitcoin Trading
28.8.2020
Zimbabwe’s Mobile Money Operators (MMO) say they will comply with the latest directive by the central bank to shutdown mobile money agents. In addition, the MMOs will also limit mobile money transactions to $50 (Zwl $5,000) per day while users are now restricted to one mobile money account...
Banks in Mexico Pose Greater Money Laundering Risk Than Crypto Firms, Says Report
28.8.2020
Commercial banks by far pose the greatest risk of money laundering in Mexico compared to crypto-related companies, according to a new report by the country’s Financial Intelligence Unit (FIU). The study singles out what it calls the “G7 banking group”, which includes BBVA...
As Gold Prices Soar, Two Gold-Backed Tokens See Increased Demand Fetching Premiums
28.8.2020
The last few months have bolstered the price of the precious metal gold as governments worldwide have created tremendous amounts of debt and inflation. For instance, the value of gold per ounce jumped over $2k during the first week of August. Meanwhile, similarly to the physical counterparts,...
Over $1 Billion Ethereum-Based Tokens Vulnerable to ‘Fake Deposit Exploit’
28.8.2020
A number of university researchers published a study that demystifies the “fake deposit vulnerability” in Ethereum-based smart contracts. The findings show that over 7,000 tokens worth more than $1 billion built on top of Ethereum are vulnerable to two types of attacks that exploit...
Updated Bitcoin CoinSwap Protocol Design Spurs Further Discussion
28.8.2020
UK-based developer Chris Belcher has released a design document for a routed multi-transaction CoinSwap implementation, further developing his work on improving Bitcoin (BTC) transaction privacy and fungibility. The post, which comprises a detailed design of the first protocol version, has spurred...
SEC Redefines Accredited Investors to Include Those With Proven Knowledge
27.8.2020
The U.S. Securities and Exchange Commission (SEC) has amended the definition of accredited investors, such as to include those with proven financial knowledge. The broader definition will enable more people to invest in private offerings of cryptocurrency investments. SEC’s New Accredited...
BTC and Altcoin Pay is Growing Fast, Says Crypto Payment Firm BitPay
27.8.2020
Source: Adobe/Wit (edited by Cryptonews)
Atlanta-based crypto pay service provider BitPay says that bitcoin (BTC) and altcoin payments are on the rise – with the number of transactions on its platform growing by 4.6% in June.
Per data released by the firm, 107,000 crypto pay transactions were...
‘Bitcoin Will Never Ditch You’ Ad Dominates Front Page of Major Hong Kong Newspaper
27.8.2020
The number of bitcoin ads appearing in major newspapers is growing. The front page of Apple Daily, a major newspaper in Hong Kong, featured a “Bitcoin will never ditch you” ad this week. Bitcoin ads also recently appeared in leading Indian newspaper The Economic Times, the Financial...
Bitcoin News Roundup for Aug. 27, 2020
27.8.2020
With bitcoin slightly bearish and cyber bandits pillaging New Zealand’s NZX exchange, CoinDesk's Markets Daily is back for your latest crypto news roundup!
DEC777 Decentralized Exchange – The Last Resort for the People Who Lost Trust in Centralized Exchange
27.8.2020
Why do we have to store our digital assets with hesitation? We’ve lost trust in many scam exchanges such as Wex, BITPoint…Maybe this is the right time to look for an exchange that doesn’t need us to deposit to trade. DEC77 is an outstanding decentralized exchange built...
South Korean Court Sends Bogus Crypto Exchange Chiefs to Prison
27.8.2020
In what has been a torrid week for South Korean crypto exchanges, the CEO and the executive director of a legitimate-looking trading platform have been sent to jail for three and two years respectively – after a court found them guilty of duping investors with a bogus exchange.
A branch of...
New SEC Filing Shows Fidelity Preparing to Launch Bitcoin Fund
27.8.2020
The U.S. Securities and Exchange Commission (SEC) has published a new filing for a bitcoin fund, submitted by Fidelity Investments’ head of strategy and planning. Bitcoin Index Fund Filed With SEC The SEC published Wednesday a Notice of Exempt Offering of Securities (Form D) filing for a...
Capturing Petahash: Marathon Obtains 3,300 Bitcoin Mining Rigs, Acquires Fastblock for $22 Million
27.8.2020
The Nasdaq-listed cryptocurrency mining company, Marathon Patent Group, has announced it will be purchasing Fastblock Mining in an all stock transaction. The firm’s letter of intent revealed Marathon will acquire Fastblock for around $22 million. The company will obtain 3,304 ASIC bitcoin...
Bitcoin and Altcoins Show Recovery Signs But Facing Roadblocks
27.8.2020
Bitcoin price is still holding the USD 11,100 and USD 11,000 support levels. BTC is currently (08:30 UTC) recovering higher, but it is facing a strong hurdle near USD 11,500 and USD 11,550. If there is no upside break above USD 11,550, the price could resume its decline.
Similarly, most major...
Mutual Fund Giant Fidelity Reportedly Starting its First Bitcoin Fund
27.8.2020
The US-based mutual fund giant Fidelity is reportedly set to launch their first bitcoin (BTC) fund targeted at high profile investors.
The new filing with sparse details was made public by the Securities and Exchange Commission (SEC), and it revealed that Fidelity's head of strategy and planning...
Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key Institutions
27.8.2020
With sophisticated fraud schemes seemingly overwhelming the African crypto market, there is a growing need for players in the space to help fight this scourge. Some are responding through increased educational campaigns, which they hope will not only turn the tide against scammers but will also...
Korean Police Seize Crypto Exchange Coinbit Over Allegations of $84 Million in Wash Trades
27.8.2020
Police in South Korea on Wednesday raided and seized the offices of Coinbit, the country’s third largest crypto exchange, over allegations it faked 99% of its trading volume. According to a report from Seoul News, local police took control of Coinbit’s headquarters in Gangnam as well...
Crypto Exchange FTX Buys Blockfolio for $150 Million in Effort To Expand Retail Presence
27.8.2020
Cryptocurrency derivatives exchange FTX has acquired the popular portfolio tracking app Blockfolio for $150 million in a bid to gain a foothold in the crypto retail market. The deal – consummated after nine months of negotiation – was settled using a combination of cash, crypto,...