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CoinLive Weekly Recap: Find Out Last 7 Days' Top Stories

Author: CoinLive News Team Jul 2, 2018 at 06:23

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HOT STORIES OF THE WEEK

A Big Bounce as $20 Billion Pours Back into Crypto Markets

The bounce was expected however the magnitude of it is a very positive sign. Markets have been plummeting for weeks, and are still very low.

Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

Bitcoin’s meteoric rise last year had many observers calling it one of the biggest speculative manias in history. The cryptocurrency’s 2018 crash may help cement its place in the bubble record books.

Line Defies Cryptocurrency Bears to Open Exchange in Singapore

Japan’s biggest messaging service, is opening a cryptocurrency exchange next month even amid Bitcoin selloff that’s fueled pessimism over the future of virtual currencies.\

Microsoft and EY Are Rolling Out Blockchain Technology for Xbox

If Microsoft and EY’s blockchain product is successful, it should shape the way video game developers, creators and publishers of all types earn money online.

Brave Browser Keeps On Growing

Brave’s monthly active users are growing 13% per month since April - and at this rate they’ll be at 5.8 million MAUs by the end of 2018.

Bank of America Acknowledges Cryptocurrencies as a Threat to Their Business

In one what may be considered as the first time that a large financial institution has gone on record to claim that cryptocurrencies may be a threat to their business.

The VeChainThor Blockchain has officially launched

At exactly 08:00:09 the first block was successfully mined. The VeChainThor Blockchain has officially launched.

New Research Suggests Suspicious Tether (USDT) Trading on Kraken Exchange

New research published today has highlighted what appears to be very unusual trading of the stablecoin - Tether (USDT) - on the Kraken cryptocurrency exchange.

A $700 Million Cryptocurrency Called Ontology Is About to Go Live

That's because Shanghai-based Ontology, a project working closely with those behind the "smart economy" blockchain Neo, is expected to launch its live blockchain on June 30.

Polish Bitcoin Association Challenges Banks Over Crypto Account Refusals

An industry group in Poland is attempting to challenge banks that are allegedly refusing to provide services for firms associated with cryptocurrencies.

Major Banks, Regulators Trial 'Know Your Customer' App on R3's Corda

A group of banks and regulators, including big names like BNP Paribas and Deutsche Bank, have conducted a trial of a know-your-customer (KYC) compliance application built...

Kaspersky Warns on Rapid Spread of Malicious Crypto Miners

Malicious actors are moving from ransomware to crypto-jacking, a leading cybersecurity firm reported Thursday.

Austrian Financial Authority Calls for Tighter Regulation of ICOs and Cryptocurrencies

Board directors of the Austrian Financial Market Authority (FMA), Klaus Kumpfmüller and Helmut Ettl, have have offered proposals for stricter regulations on cryptocurrencies.

Union Square Ventures to Invest in Crypto and Blockchain Long-Term Without Dedicated Fund

Union Square Ventures (USV), a private equity and venture capital firm, has plans to invest in blockchain and cryptocurrencies over the course of the next 10 years.

PwC Report Finds That 2018 ICO Volume is Already Double That of Previous Year

According to a joint report from consulting firm PwC and the Swiss Crypto Valley Association, Initial Coin Offerings (ICOs) are booming despite the price collapse of cryptocurrencies.

Coinbase to Open New Office in Portland, Oregon

Leading U.S. cryptocurrency exchange and wallet provider Coinbase announced today, June 28, that they are opening a new office on the west coast of the United States in Portland, Oregon.

Research: Over 1,000 Cryptocurrencies are “Dead Projects”

While not all cryptocurrencies and tokens are built to last, the math shows token projects and forked digital currencies abandoned, shut down, and scammed are far greater than one may think.

KuCoin is Closing our Services to Traders in Japan

Out of respect to Japanese legislation requirements, KuCoin will close cryptocurrency trading services for all traders located in Japan. All the KYC verification requests sent from Japan will be rejected.

Coinbase Will Add GBP Support to Ease Withdrawals in UK

The Coinbase UK CEO has confirmed that support for GBP withdrawals and deposits will be rolled out over the next few weeks. In an interview with NewsBTC, he also said that Coinbase Custody has had a ‘lot of interest’...

Brave Introduces Beta of Private Tabs with Tor for Enhanced Privacy while Browsing

Today we’re releasing our latest desktop browser Brave 0.23 which features Private Tabs with Tor

eBay and Foxconn Join the Enterprise Ethereum Alliance

eBay and Foxconn are among the newest companies to join the Enterprise Ethereum Alliance (EEA), the largest open-source blockchain consortium.

A Plan to Send Millions in Bitcoin to Venezuela Is Moving Ahead

The former bank employee turned developer doesn't want to say too much about his newest project, an effort he believes could soon help people living under one of the world's most oppressive monetary regimes. 

Neo's Next Act? $700 Million Crypto Ontology Is About to Go Live

That's because Shanghai-based Ontology, a project closely tied to the "smart economy" blockchain Neo, is expected to launch its live blockchain on June 30, a step that will find one of the top 20 crypto assets finally releasing its proprietary technology.

Binance Opens Its First Crypto-Fiat Exchange in Uganda

Binance, the largest exchange by volume according to CoinMarketCap, announced Thursday that it was starting a fiat-crypto trading pair with the Uganda shilling. 

Block.one Wants to Rewrite the Entire EOS Constitution

EOS is experiencing what might be considered a full-blown constitutional crisis.

Bank of England Warns Finance Firms Over Crypto Risks

The Bank of England's deputy governor for prudential regulation has warned banks about exposure to cryptocurrency-related assets in a new letter.

Crypto Sector Too Small to Affect German Financial Stability, Says Gov’t Committee

A report from the Financial Stability Committee (AFS) of the German Bundestag has found that cryptocurrencies do not pose a threat to the country’s financial stability, Cointelegraph auf Deutsch reports June 27.

Cybersecurity Analysts Find Tether Double-Spending Vulnerability

Chinese private cybersecurity firm SlowMist has found a double-spending vulnerability in Tether(USDT) today, June 28.

South Korean Financial Watchdog Releases Stricter AML Guidelines for Virtual Currencies

South Korea’s top financial regulator has released a set of revised anti-money laundering (AML) guidelines for virtual currencies, according to a press release published this week.

Crypto Exchange Bithumb Reduces Hack Loss Estimation From $31 Mln to $17 Mln

Hacked South Korea crypto exchange Bithumb has lowered the estimated amount of money lost in the hack from 35 billion won (about $31 million) to 19 billion won (about $17 million).

Malta Passes Trio of Bills as Part of 'Blockchain Island' Plan

Announced Tuesday by Silvio Schembri – a Maltese Member of Parliament and the parliamentary secretary responsible for financial services, digital economy and innovation – 

Kin Cryptocurrency Goes Live in Mega Chat App Kik

Kin, a cryptocurrency developed by the makers of Kik Interactive, has gone live in the popular chat app for a group of 1,000 beta testers.

Coinbase Founder Launches Crypto Charity Platform

Coinbase CEO Brian Armstrong has launched GiveCrypto, a new charity platform which will hold and distribute cryptocurrencies to people in need, according to a Medium post, published June 27.

Blockstream’s Lightning Network Implementation Enters Beta, Includes TOR Support

The 0.6 release of Blockstream’s scalability solution for Bitcoin, c-lightning, has been released. With this Lightning Network implementation, which is written in the C programming language.

Dan Larimer Releases Draft Proposal of New EOS Constitution

After proposing that the EOS project scrape its original Constitution, as CCN reported earlier today, Daniel Larimer, the creator of EOS, has now released a revised proposal.

FBI Agent Confirms 130 Crypto-Related Investigations

The U.S. Federal Bureau of Investigation (FBI) is currently running 130 different cryptocurrency-related investigations, Bloomberg reported Wednesday.

The SEC Is Seeking Comment on Yet Another Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) is once again seeking comments on a potential bitcoin-based exchange-traded fund (ETF).

Pornhub Adds Tron, ZenCash as Crypto Payment Options

The popular adult entertainment website Pornhub has announced that it will accept two other cryptocurrencies – Tron and ZenCash – as payment.

Crypto Startup Uphold Moves to Become Licensed U.S. Broker-Dealer

Digital money platform Uphold is looking to become a broker-dealer in the U.S. after acquiring a registered firm called JNK Securities, it was announced Wednesday.

Apple’s Steve Wozniak Calls Blockchain a ‘Bubble,’ Thinks Bitcoin Is Still ‘Just Amazing’

Apple co-founder Steve Wozniak believes that blockchain is a bubble similar to that of the dotcom era, but that it could have potential in the future, CNBC reported yesterday, June 26.

Study: Low Reliability for Successfully Routing Payments on Lightning Network

A study conducted by Diar has revealed that “the reliability of successfully routing a payment on the Lightning Network is still quite low.” 

Report: Central Bank Digital Currency Could Provide Stability, But Crypto Is Too Volatile

Economic researchers at the Kiel Institute for the World Economy have identified digital currencies issued by a central bank as an opportunity for a more stable financial system...

Homeland Security Agents Posing as Darknet Crypto Traders Arrest Criminals

Agents acting under the purview of the U.S. Department of Justice (DOJ) have arrested more than 35 criminals by posing as cryptocurrency traders on the darknet.

World’s Second Largest Crypto Exchange Binance Resumes Operations After ‘Risk Warning’

Cryptocurrency exchange Binance has resumed trading a day after suspending activities due to system upgrade, followed by a warning from their risk management system...

Facebook is reversing its ban on cryptocurrency ads

Facebook is reversing its ban on cryptocurrency advertisements and will now allow some preapproved advertisers to promote crypto businesses and services, like exchanges.

US Federal Reserve Bank Recognizes Cryptocurrency

Four cryptocurrencies have been added to the Federal Reserve Bank of St Louis, one of twelve regional banks in the US central banking system. The four cryptocurrencies are Bitcoin, Litecoin, Bitcoin Cash and Ethereum. 

EOS Drama Continues As Heated Exchange With Block Producer Emerges

The ongoing drama surrounding the EOS platform’s controversial consensus mechanism took another interesting turn today - as a screenshot apparently showing a conversation with an EOS block producer (BP) has emerged.

Pornhub to Accept Tron’s Cryptocurrency, Whose Founder Just Bought BitTorrent

The pornography industry is often an early adopter of new tech. And so it has come to pass with the highly volatile world of cryptocurrency, the internet’s decentralized and encrypted electronic cash networks.

ING believes interest in bitcoin is going to grow exponentially

According to a survey conducted by ING, interest in Bitcoin may increase in the future. The European individuals consulted about this showed a growing interest for Bitcoin and cryptocurrencies

A New Business Model Is Shaking Up the Crypto Exchange Rankings

The recently introduced "trans-fee mining" revenue model is starting to change the cryptocurrency exchange landscape, despite some criticism of the method from industry insiders.

Japan's Finance Minister Balks at Changing Crypto Tax Rules

Japan's top financial official is cautious about the idea of his nation changing how it taxes gains from cryptocurrencies.

Florida Is Creating Its Own Crypto Czar

The Sunshine State's chief financial officer, Jimmy Patronis, said in a statement Tuesday that he has created a new position to supervise the state's cryptocurrency industry. 

Zcash Claims 'Successful' First Hard Fork

Privacy-focused cryptocurrency zcash executed its first and long-awaited hard fork on Tuesday morning. Called Overwinter, the upgrade was activated at 00:42 UTC on June 26.

Nasdaq Report: Only Five Percent of Stock Market IT Providers Have Deployed Blockchain

IT providers for stock markets and exchanges have been slow to adopt blockchain technology, Nasdaq told The Wall Street Journal June 26.

This New Trick Helps Exchanges Artificially Pump Up Their Trade Volume

Some exchange operators have found a new trick to artificially pump up their trade volume. They are directly rewarding users with their own issued tokens for generating transactions.

 

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