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27 Arrests as Chinese Police ‘Completely Destroy’ PlusToken Bitcoin Scam
30.7.2020
One of the most notorious and largest-scale bitcoin (BTC) scams of all time appears to have finally be taken down – with Chinese police swooping to arrest 27 suspects it said orchestrated PlusToken.
Per state-owned media outlet Chinanews, the Ministry of Public Security, China’s police authority...
Tether Prints $300 Million, While XRP Reclaims Third Spot
30.7.2020
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...
Bitcoin and Altcoins Consolidate Above Key Uptrend Supports
30.7.2020
Bitcoin price remained below the USD 11,250 and USD 11,400 resistance levels. BTC is currently (08:30 UTC) correcting lower and it is struggling to stay above USD 11,000. It seems like the price might continue to move down and it could even retest the USD 10,550 support zone.
Similarly, most major...
Zero Collateral: $138 Million in Defi Flash Loans Issued in 24 Hours
30.7.2020
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...
Privacy-Enhancing Protocol Cashfusion Completes Security Analysis
30.7.2020
Just a few days prior to the Bitcoin Cash anniversary, BCH fans found out that the Cashfusion audit from Kudelski Security is now complete. Electron Cash engineer Jonald Fyookball announced the audit was finished and said the protocol “passed, mostly with flying colors.” Last February...
Bitcoin Tops $11,000 Reigniting Interest in India
30.7.2020
A resurgent bitcoin is rekindling Indian interest in cryptocurrencies with reports suggesting many dormant holders are back to trading. A report in Livemint is also attributing the piqued interest to a recent Indian supreme court decision to overturn a prohibition that barred banks from dealing...
Novogratz: Global ‘Liquidity Pump’ Will Keep Bitcoin Rising, Price to Hit $20K This Year
30.7.2020
Billionaire investor Michael Novogratz said global “liquidity pump” from stimulus packages will keep driving bitcoin’s price higher. He expects the price of bitcoin to reach $20,000 this year, fueled by retail investors shifting to the cryptocurrency. Mike Novogratz’s...
Russian Roulette: Central Bank Calls Crypto Investment ‘Gambling’
29.7.2020
The crypto-skeptic Russian Central Bank (CB) has taken another swipe at crypto – equating investment in digital tokens to “playing roulette” or investing in “pyramid schemes.” Meanwhile, some experts have suggested that new Russian “suspicious funds” seizure laws could be applied to crypto...
The Onecoin Debacle: Indictments Unsealed, 2 Dead in Mexico, Story Gets ‘Darker’
29.7.2020
The Onecoin fiasco is still making headlines these days as a number of alleged money laundering companies were exposed on July 25, two Onecoin leaders were recently killed in Mexico, and the British author Jamie Bartlett revealed a new “Missing Cryptoqueen” episode is coming soon....
Cake DeFi: A One-Stop Shop for Generating Yield
29.7.2020
Cake DeFi, a platform that allows users to generate cash flow through pooled masternode staking and options lending, has created a platform with a clean user interface that allows anyone from the novice to the time-starved investor, to start earning interest on their cryptocurrency with a couple...
Bitcoin News Roundup for July 29, 2020
29.7.2020
With the battle for CBDC dominance in the East heating up and smart contract use skyrocketing as Ethereum turns five, CoinDesk's Markets Daily is back with another news roundup
Crypto Hardware Wallet Firm Ledger Hacked, One Million Customer Emails Exposed
29.7.2020
Ledger said on Wednesday that its e-commerce database was hacked in late June, compromising about one million email addresses. No user funds were affected by the breach. In a blog post, the French bitcoin hardware wallet company revealed that contact and order information for customers was also...
13 Exchanges Pass the New 'Trusted' Spot Volume Tests
29.7.2020
Just above half of the examined crypto exchanges passed the tests for 'trusted' spot volume, according to crypto market analysis firm Coin Metrics's latest metric. One failed all of them.
Coin Metrics has introduced a "trusted volume" metric, in an effort to help differentiate between...
What Bitcoin Holders Should Watch for in Today’s Fed Meeting
29.7.2020
Federal Reserve Chairman Jerome Powell. Source: a video screenshot, Youtube/CNBC Television
With the US Federal Reserve’s Federal Open Market Committee (FOMC) set to release a statement from their meeting this evening (UTC time), crypto holders may be in for another run higher if the traditional...
Power Plants in Iran Are Authorized to Mine Bitcoin
29.7.2020
Power plants in Iran are allowed to mine cryptocurrencies, the deputy head of the country’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly confirmed. Mostafa Rajabi Mashhadi, deputy head of Tavanir, explained that entities have to apply for the necessary...
Bitcoin, Ethereum and Major Altcoins Target Additional Gains
29.7.2020
Bitcoin price started a downside correction after tagging the USD 11,400 level. BTC remained well bid near USD 10,800 and it is currently (08:30 UTC) trading above USD 11,000.
Similarly, most major altcoins are trading in a positive zone, including ethereum, XRP, litecoin, bitcoin cash, BNB,...
Ledger Suffered Data Breach, Customer Data Compromised
29.7.2020
France-based major hardware wallet provider Ledger has confessed that it was been hit with a data breach on June 17 that appears to have allowed a “third party” access to at least 1 million of its users’ contact details.
The firm took to Twitter to state that its marketing and e-commerce database...
93% of Bitcoin’s Supply Profitable at $11K, ‘Realized Price’ Recovers from Black Thursday
29.7.2020
Onchain data shows that bitcoin’s breakout above $11,000 puts 93% of the circulating supply in a state of profit. Additionally, seven-day metrics show that bitcoin’s “realized price” has recovered from the low that took place on March 12. The research and analysis firm...
Ethereum Price Creates GPU Shortage, Some Manufacturers Blame Nvidia
29.7.2020
During the last four weeks, cryptocurrency markets have gathered significant value, and the crypto asset ethereum gained over 40% during the last 30-days. The price of ether moving northbound has caused a strain on the graphics processing unit (GPU) market, as ETH miners have become scarce....
Pack Your Bitcoin: Busy South Korean Beach Says ‘Yes’ to Crypto
29.7.2020
Haeundae Beach. Holidaymakers at Haeundae, South Korea’s busiest and most popular beach, will be able to pay for services such as sun umbrella and inflatable tube rentals in bitcoin (BTC), ethereum (ETH) and other tokens next month.
Haeundae Beach, in South Korea’s second city Busan, is a...