Cryptocurrency Financial News
After suffering a security breach last week, Japanese crypto exchange Bitpoint has announced that it will refund 50,000 affected users, who collectively lost about $20 million, when the business reopens trading services on the platform.
Dash-focused wallet MyDashWallet announced it experienced a data breach from May 13 to July 12, with the wallet provider stating that anyone who used MyDashWallet in that time frame should assume the hacker has their private keys.
Japanese crypto exchange Bitpoint announced it has been hit by a major hack, with malicious actors stealing $32 million worth of five different cryptocurrencies. A majority of the stolen funds were taken from the platform’s users, with just over a quarter of the amount stolen from the exchange itself.
Peer-to-peer exchanges including Bisq and Local.Bitcoin.com have seen a rise in user rates from traders looking to maintain a level of anonymity as regulators call for more oversight of online exchanges.
The Tyler and Cameron Winklevoss-founded crypto exchange Gemini may consider joining the Libra Association as the Winklevoss twins look to get their identical feet in the door on Facebook, Amazon, Netflix, and Google-related crypto projects.
In May, Japan’s Financial Services Agency (FSA) passed a new cryptocurrency bill that gave clarity to the transfer of crypto assets, income taxes, and income-related transactions using digital currencies. As a result, a reported 110 crypto exchanges have contacted the FSA about setting up shop in Japan.
As an alternative to the standard crypto exchange practice of self-insurance, Coinbase is in talks with insurance broker Aon to set up a regulated captive insurance company to protect Coinbase and its users in the event of a hack.
Along with allowing users to deposit and withdraw funds using their bank accounts, customers can now purchase crypto assets on the platform using a credit or debit card.
Citing the Reserve Bank of India’s restrictions on cryptocurrency, Facebook has ruled out offering its Calibra wallet service to the country but plans to work with regulators on possibly updating crypto legislation.
Crypto exchange Binance announced that the number of block confirmations for both bitcoin and Ether withdrawals and deposits has been halved, meaning the exchange is accepting a reduced number of confirmations within its own system.
Claiming its LEO token sale only generated $100 million earlier this year, Bitfinex held another token sale, run by a crypto startup called Ampleforth, as the exchange continues to pay off an $850 million debt to its investors and Tether.
Launching out of beta today, ShapeShift’s new platform allows users to buy, sell, trade, and manage over 50 different digital assets through a connected hardware wallet.
MetaMask is set to release a beta version of MetaMask Mobile, an app for Android and iOS users that will give individuals access to their MetaMask wallet and let them browse dApps.
After being listed on Coinbase earlier this year in May, everyone’s favorite joke coin has found its way on to Binance, and even received some high praise from one Vitalik Buterin.
Israel-based startup ZenGo released the open-source code for its non-custodial Libra wallet alternative, which is currently only available on the Libra testnet and will reportedly ensure complete user control over Libra funds.
eToro’s crypto wallet will add support for 120 ERC-20 standard tokens, beginning with Maker, basic attention token, and OmiseGO. Additional tokens will be rolled out in the “near future.”
Bitfinex has reportedly forked over $100 million of a $700 million debt it owes stablecoin issuer Tether, leading some to believe the crypto exchange may have reached its LEO token sale goal of raising $1 billion.
Cryptocurrency exchange Gemini plans to apply for a broker-dealer license with the Financial Industry Regulatory Authority in an attempt to become an approved alternative trading service, which would allow users to legally swap digital securities on the exchange’s platform.
Following in the footsteps of crypto exchanges like Binance, Huobi is working to launch its own blockchain, dubbed FinanceChain, aimed at helping financial firms manage their own lending services, stablecoins, security token offerings, and specific payments services.
After Coinbase added support for Chainlink’s LINK cryptocurrency last week, the coin saw a spike in price, putting the “Coinbase Effect” at center stage in this (maybe, not quite) post-winter boom.
