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Tether’s Trouble With New York Attorney General — Will Crypto Cope?

Are Bitfinex and Tether in trouble? Maybe, but the thing is, we don’t know just how much trouble, because the stablecoin issuer has challenged the New York State Office of the Attorney General’s (OAG) case against them. In claims filed in April, Attorney General Letitia James asserted that Bitfinex defrauded its customers, having lost $850 million in client and corporate funds, and then having attempted to cover up this loss by secretly helping itself to around $900 million of Tether’s cash reserves.  Serious charges, but they’re denied by Bitfinex and…

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Can Graphite Replace Google Drive and Google Docs?

Big Brother, in its governmental and corporate forms, has been watching us for many years. One of its most aggressive ongoing forms started with the USA PATRIOT Act of October 2001, which laid the foundation for an unprecedented mass surveillance apparatus which extends beyond American borders. Meanwhile, companies like Google and Facebook have built multi-billion dollar business models out of the sale and collection of user data. Under this framework, being watched, located and data mined all across the internet seems to be inescapable.  Thankfully, there is a counter-movement which…

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Binance Jersey Lists Exchange’s Own GBP-Backed Stablecoin

Fiat-crypto exchange Binance Jersey has listed a proprietary GBP-backed stablecoin, according to a press release shared with Cointelegraph on July 19. ‘Overwhelming demand’ for stablecoin diversification Listing of the Binance GBP Stablecoin (BGBP) confirms earlier indications that the major industry player had its sights on imminently issuing its own fiat-pegged assets, starting with a cryptocurrency 100% backed by the British pound. Binance Chief Financial Officer Wei Zhou has given an official statement, in which he noted that: “There has been an overwhelming demand in the market and Binance community for…

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1 AM UTC Is the Most Volatile Hour for Bitcoin: Research

Researchers at crypto analytics firm LongHash have found 1 AM UTC to be the hour of greatest volatility for Bitcoin (BTC) over the past two years. 1 AM UTC had more daily highs and lows than any other hour of the day over a period from 2017 to 2019, according to research released by LongHash on July 17. LongHash’s research is based on crypto price archives from major American crypto exchange and wallet service Coinbase. The Hong Kong-based firm collected data from Crypto Data Download about Coinbase prices over the…

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BitMEX in Violation of Securities Laws, Crypto a Metastasized Cancer

Economist and anti-cryptocurrency pundit Nouriel Roubini has recently declared that there is “overwhelming evidence of rampant fraud and abuse” in the crypto space.  Roubini, a professor at NYU’s Stern School of Business, also took aim specifically at the compliance policies of crypto exchange BitMEX in an essay entitled “The Great Crypto Heist.” The essay was published by opinions publication site Project Syndicate on July 16. According to Roubini, anonymous sources from within BitMex told him that criminals perform a massive amount of money laundering on the exchange: “BitMEX insiders revealed…

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Binance Unknowingly Earns Staking Rewards of Stellar, Adds Support

Major cryptocurrency exchange Binance has earned staking rewards on Stellar (XLM) following a change of some parameters on cold and hot wallets. In a blog post published on July 18, Binance said that it unknowingly earned staking rewards of 9,500,000 XLM ($775,000 at press time) in extra XLM tokens in the wake of specific parameter changes on cold and hot wallets made a year ago. The exchange subsequently decided both to immediately add staking support for XLM and to share the gained XLM rewards with the entire community. The post…

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BTC Price Reclaims $10K After US Lawmaker Says Bitcoin Can’t Be Killed

Bitcoin (BTC) has retaken $10,000 today following a moderately volatile month, according to data provided by Coin360. Bitcoin starting its parabolic advance in April which culminated in retailing the 5-figure mark in June for the first time since March 2018. At the time, BTC was on a slow-and-steady bull run that peaked just shy of $14,000 on June 26. Since then, BTC has moved around a decent amount, dipping below $10,000 on July 2, retaking $13,000 on July 10, and slumping below $10,000 again on July 16. Some analysts linked…

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The Ryuk Virus Is Spreading Through China, Asking 11 BTC Ransoms

This article was originally published by 8btc and written by Vincent He. A ransomware virus named Ryuk has spread to China, asking the users of infected devices for a hefty bitcoin ransom.  Tencent Security reported on July 17, 2019, that it has monitored Ryuk and found that it encrypts data on an infected device and demands a ransom in bitcoin. The ransom is generally very high and has recently reached 11 BTC. The virus disables victims’ systems with sophisticated ransomware, mainly through botnets. First found in North America, it uses…

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Ocasio-Cortez Criticizes Corporate-Controlled Money in House’s Libra Hearing

New York Congresswoman Alexandria Ocasio-Cortez addressed the control of Facebook’s Libra cryptocurrency in today’s United States House Committee on Financial Services hearing. As per a recording of the event, provided by C-Span on July 17, Ocasio-Cortez addressed Calibra wallet CEO David Marcus, asking, “[Facebook] wants to establish a currency and act through its wallet as — at minimum — a payment processor. Why should these activities be consolidated under one corporation?” Regarding the membership of the Libra Association, Ocasio-Cortez asked, “Were they [the members] democratically elected?” After Marcus answered that…

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Coinbase Announces Three Data-Based Trading Signals for Users

American cryptocurrency exchange and wallet service Coinbase announced that it has released aggregated data in the form of three trading signals to its customers. Coinbase announced the new offerings in an official blog post on July 17. The three trading signals that are being offered are top holder activity, typical hold time and popularity, and price correlation. The purported aim of each of these offerings is to allow investors to create more informed trading strategies, by means of insights that go beyond raw price metrics. The typical hold time signal,…

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