Cryptocurrency Financial News
With the launch of Panvala’s mainnet, developers in the Ethereum community can essentially pitch their projects aimed at resolving some of the network’s lingering issues, and members of the Panvala community can vote to fund the project with Panvala’s own Ethereum-based token, PAN.
Data firm Nomics has announced the launch of its transparent volume service, which calculates the percentage of real volume traded on crypto exchanges to push back against the trend of faked trading volume.
Presenting itself as an app to help players cheat at the online battle royale game Fortnite, Syrk encrypts files on a user’s hard drive and demands a ransom paid in crypto. If the ransom is not paid, the malicious software begins deleting files one by one.
Through a partnership with the HackerOne bug bounty platform, the Libra Association is inviting the public to report vulnerabilities in the Libra network code, offering a max reward of $10,000.
The Central Bank of Brazil has adopted the International Monetary Fund’s crypto classification guidelines, meaning traded cryptocurrencies within the country will be classified as non-financial products and, as such, will be counted as goods on the central bank’s balance sheet.
With at least 40% of all issued Tether stablecoins running on the Ethereum network, the controversial but popular coin has begun testing the blockchain’s capacity, making it tough for developers to work on the network.
Westwood, California, resident Kunal Kalra has pleaded guilty to running an unlicensed bitcoin exchange and ATM. Kalra allegedly took part in $25 million worth of trading without obtaining a money-remitting business license or implementing any anti-money laundering processes.
Last week, six members from the US House of Representatives’ Financial Services Committee met with Swiss regulators, including the Federal Data Protection and Information Commissioner and the Financial Market Supervisory Authority, to discuss Facebook’s Libra project. According to Representative Maxine Waters, the meetings did very little to convince US lawmakers that the Libra Association could control the Libra network responsibly.
Crypto startup Crown Sterling has filed a lawsuit against security conference Black Hat USA for reportedly being booed and heckled while the startup gave a presentation. To be fair to the hecklers, Crown Sterling’s presentation was on the discovery of “quasi-prime numbers” and featured the startup’s announcement of its “legitimate multi-dimensional encryption technology.”
Switzerland’s Financial Market Supervisory Authority has released updated know-your-customer (KYC) and anti-money laundering guidelines, requiring blockchain service providers to conduct KYC checks and notify the Money Laundering Reporting Office Switzerland should they identify suspicious activity on their platforms.
Last Thursday, former Overstock CEO Patrick Byrne announced his resignation as both the head of the online retail giant and a member of its board. With a change in leadership, Jonathan Johnson has taken over as the new CEO, affirming that the company’s blockchain-based efforts will continue as planned.
Though Binance has maintained that the know-your-customer hack earlier this month was not entirely made up of Binance users, those whose photos were successfully linked to the exchange will receive free, lifetime VIP membership accounts. The VIP accounts will give them access to all of the exchange’s services, support features, and preferential trading fees.
Though the issue has since been resolved, crypto payments firm BitPay blocked a $100,000 donation made in an unnamed cryptocurrency to charity Amazon Watch, which is working to stop the fires currently ravaging the Amazon rainforest.
South Korean crypto exchange Bithumb will begin reviewing its crypto listings monthly, intending to drop failing coins. The exchange’s newly formed Eligibility Deliberation Committee will determine which coins will be dropped based on criteria including low trading volume, low market capitalization, and lack of support from developers.
John Galt, an analyst at cryptocurrency intelligence firm SharkCIA, has found that crypto exchange Beaxy likely lost about $570,000 worth of XRP during a hack two weeks ago that saw users exploit the XRP ledger on the exchange’s platform.
Three unnamed members of the Libra Association, the group tasked with overseeing Facebook’s Libra network, have considered leaving the group, citing disappointment related to crypto regulations and fears of backlash from publicly showing support for Libra.
The ConsenSys-backed Pantheon project, which offers a suite of Ethereum-based services, sent out a proposal in a Hyperledger mailing list regarding the possibility of Ethereum joining the consortium, which would make it the first public blockchain to do so.
At the Baikal Blockchain and Crypto Forum, mining rig manufacturer Hotmine’s CEO Oles Slobodenyuk pitched the company’s bitcoin mining rig to residents of Irkutsk, Eastern Siberia, claiming it can earn them up to $55 a month while radiating heat for up to 10 square meters.
Though the decision is subject to ratification, the British High Court claims to now recognize bitcoin as property, making it easier for victims of hacks to claim cryptocurrencies locked away in exchanges.
A new feature added to Coinbase Wallet will allow users to access dApps via their desktop browser so long as they’re using Google Chrome, Brave, or Opera.
