Bitfinex completes redemption of LEO tokens on EOS blockchain following burn – via AMBCRYPTO
On July 8, Bitfinex, the noted cryptocurrency exchange, had announced the spending of 27% of all accrued margin trading fees to buyback and burn UNUS SED LEO tokens. In an update for the same, the exchange today informed the community of completing the redemption and burning of these LEO tokens. Bitfinex tweeted, “The new UNUS SED LEO redemption has now been completed on EOS, burning a total of 1750,570.00 $LEO.”
Bitfinex completes redemption of LEO tokens on EOS blockchain following burn – via AMBCRYPTO
European Central Bank Website Hack Exposes yet Another Fatal Flaw in the Traditional Banking System – via beincrypto
The European Central Bank (ECB) shut down one of its websites on August 15, 2019, after the site was compromised by hackers. According to ECB, unauthorized parties breached the Bank’s Integrated Reporting Dictionary (BIRD) website, but could not gain access to any market-sensitive data.
Bitcoin Addresses Holding 1 Billionth Of Max Supply Are Getting Closer To 6 Million – via UsetheBitcoin
The number of Bitcoin (BTC) addresses that hold 1/1,000,000,000th of the total Bitcoin supply is currently reaching 6 million. This is according to Coin Metrics Data Pro that provides information about the whole cryptocurrency market. That means that a user would have to hold 0.021 BTC, or close to $220 at the time of writing this article.
Poloniex drops more Crypto pairs as ALTCoins become apparitions – via Bitcoinist
Altcoin fervor is definitely at a low, so much so that crypto exchange Poloniex has dropped 23 pairs citing low volume. Many of the pairs that were popular in 2017 and during the ICO boom have fallen out of favour, as altcoins in general remain at rock bottom prices.
All-Crypto Retirement Accounts Will Be Fined: Australian Tax Office – via Coindesk
The Australian Tax Office (ATO) has sent out warning letters to investors who have placed the majority of their retirement savings in cryptocurrencies. As part of an ATO effort to warn against high-risk retirement investment strategies, 18,000 holders of Self-Managed Super Funds (SMSFs), a type of retirement account privately managed by individuals, were told they face penalties up to 4,200 AUD for breaching regulations, according to local media reports.
Binance DEX Lists Aeron’s CryptoBonusMiles (CBM) Token – via U.TODAY
Aeron, a Blockchain startup that digitalizes and secures aviation logbook data, has announced that CBM, the token of its sub-project CryptoBonusMiles, has been added to Binance DEX. The users of the second largest decentralized exchange were able to start trading CBM on Aug. 15.
Someone Just Hacked Binance Jersey’s Twitter Account – via Coindesk
Binance Jersey’s Twitter account was hacked by an anonymous twitter user called @LightningNetwo9. According to tweets posted on Binance Jersey by the hacker, the hacker is a security researcher claiming to operate with altruistic motivations. The hacking was confirmed via Binance Jersey’s telegram account. The hacker claims he could have used the successful hack to scam Binance Jersey users, particularly with a phishing scam.
Don’t Trade Bitcoin, TexasWest Capital Analyst Tells Investors – via NEWSBTC
The recent sell-off in the bitcoin market has brought the price down by more than 15 percent in just five days. The downside action has appeared against the backdrop of a dwindling global economy, shaking the beliefs of many who consider bitcoin as a safe-haven asset against gloomy macroeconomic sentiments. The absence of big hedging moves is strengthening the cryptocurrency’s bearish bias in the near-term.
South Korea’s ‘Bit-Island,’ Jeju, Redoubles Crypto Efforts After Losing Regulatory Bid – via Coindesk
After losing out to Busan in the competition to be declared Korea’s blockchain “regulation-free” zone, Jeju Island is redoubling its efforts to stay in the game, according to a report in the Jeju Island Daily News. The island, which lies 282 miles south of Seoul and is also a province, announced on August 13th the establishment of the “Global Blockchain Hub City Development Research Service,” in which it will be investing 175 million won ($145,000) for research running through December. The modest project will be carried out by Tilon, a Seoul-based company specializing in secure virtualization. Established in 2001, the company often works with local governments and a wide variety of public institutions.
China’s Digital Fiat Wants to Compete With Bitcoin – But It’s Not a Crypto – via Coindesk
China may be about to launch a fiat digital currency, but in all likelihood, it will only resemble a cryptocurrency on the surface. And it probably won’t use a blockchain. While inspired to some degree by bitcoin and the like, the effort is explicitly framed as a strategy to beat them back. The project was thrust into the spotlight last weekend when a senior official from the People’s Bank of China (PBoC) said at a closed-door conference that the country’s central bank digital currency (CBDC) is ready to launch.
Want to Buy ‘Virgin Bitcoin’? Be Ready to Pay 20% More, Says CEO – via CryptoNews
Buyers of so-called “virgin bitcoins” are paying up to 20% more for coins with no transaction history, Flex Yan, CEO of Babel Finance, a Hong Kong-based crypto financial services company, claims. In a recent opinion piece, published by Bitcoin Magazine, he said that demand for the virgin coins is growing as “without any transactional history, there is essentially no risk of the coins being seized or frozen due to their involvement in questionable past dealings.” According to Yan, the new Financial Action Task Force (FATF) guidelines, that force governments to tighten oversight of the crypto business, have also helped to increase the demand.
Hong Kong Protesters Stage Bank Run as Unrest Continues – via beincrypto
Hong Kong anti-government protesters plan to empty their bank accounts in the latest escalation of the ongoing civil unrest on the island. The action was officially scheduled for today but there is evidence suggesting that protesters have been making large withdrawals over the past few days.
Bitcoin dump contributes to confusion about Plus Token’s foul play – via AMBCRYPTO
Bitcoin [BTC], the largest cryptocurrency in the world in terms of market cap, has been falling consecutively for the past few days, causing a ruckus in the community. After the coin noted a fall of almost 14% over the week, Dovey Wan of Primitive Ventures suspected that Plus Token’s foul play may have caused the price of BTC to fall.
Man Offering Hacking Services for Bitcoin Gets 20-Month Jail Sentence – via Coindesk
A British man has been handed 20 months in jail and ordered to forfeit over £400,000 ($487,000) for offering hacking services and stolen private data in return for cryptocurrency. Nineteen-year-old Elliot Gunton was sentenced at Norwich Crown Court on Friday, having pleaded guilty at a previous hearing, according to a local police news report. Police had found evidence on Gunton’s laptop that he had “offered to supply compromised personal data of individuals to others for them to use for criminal purposes”. The information included mobile phone numbers which could be used to intercept calls and texts in order to commit crimes.
Dash Core Group’s Ryan Taylor laments communication gap between Coinbase and DCG – via AMBCRYPTO
Coinbase, the San Francisco-based cryptocurrency exchange, recently announced that the organization was “exploring” the idea of adding new virtual assets to its platform, a proposal which included Dash among 7 other cryptocurrencies. In a recent Q&A, Ryan Taylor, CEO of Dash Core Group, was questioned about the development of Dash in 2019 and his views on the current situation that was developing between Dash and Coinbase, after the exchange made the announcement.
This Crypto Asset Doesn’t Exist Yet, But Soon You’ll Be Able to Stake It – via Coindesk
Perlin hasn’t even had the token generation event for its PERL cryptocurrency, and already a leading staking-as-a-service startup has agreed to add it to the list of assets it supports. Staked – which has the backing of some of the most notable funds in crypto, including Pantera, Winklevoss Capital and Coinbase Ventures – helps holders of proof-of-stake tokens maximize their returns. Its new listing, PERL, allows access to a suite of applications designed to aid the international trade and trade finance industry, which is still very much bogged down by paperwork, according to Perlin CEO Dorjee Sun.
Santander’s Coinbase Block Are Fake As Reps Respond – via Cryptodaily
Following a Reddit thread, a supposed Santander staff told the poster that they were no longer dealing with Coinbase in the United Kingdom. It didn’t take long for the Spanish bank to deny this rumour though. On the Bitcoin subreddit, the poster u/iCheat69 claimed that they had been talking to a rep from Santander who said that would no longer be allowing customers to deposit money into the US exchange.
Moscow Blockchain Voting System ‘Completely Insecure,’ Says Researcher – via Coindesk
A blockchain-based system that will be used to allow Moscow residents to vote in municipal elections this autumn is very easy to hack, according to a research note from a French cryptography expert. Titled, “Breaking the encryption scheme of the Moscow internet voting system,” the paper by Pierrick Gaudry, a researcher from French governmental scientific institution CNRS, looked at the encryption scheme used to secure the public code of the Moscow city government’s ethereum-based e-voting platform.
BBC Journalist loses $30k ETH from Rookie Mistake – via Bitcoinist
The world of crypto trading and investing can still be a minefield to the uninitiated. Stories of hacks and scams are still commonplace affecting both individuals and huge companies. Some sensible security precautions are necessary in this digital age as one BBC journalist found out the hard way.
Forbes Crypto Expert: Oversold XRP Is Good to Buy Now, Further Drop Is Unlikely – via U.TODAY
Forbes crypto expert and contributor Naeem Aslam believes that XRP is oversold and now is the best price to stock up on it. Earlier today, on August 16, a crypto expert from Forbes, Naeem Aslam, tweeted that Ripple’s XRP is currently oversold. ‘It could be a good buy at the current price’, he says.
Binance’s US Arm to Go Live ‘Within Two Months,’ CEO Says – via Coindesk
The dedicated U.S. arm of cryptocurrency exchange Binance will go live by November, according to Binance’s CEO. Changpeng “CZ” Zhao told Cheddar in an interview on Wednesday that, while the situation is still “in flux,” he expects the new platform would go live in “a month or two.” Due to uncertainties over the U.S. regulatory situation, Binance barred states-side customers from using its global platform Binance.com in mid June, a day after revealing that it would launch the new U.S. division in partnership with a firm called BAM Trading Services.
ASX DLT System ‘On Track,’ Says Annual Report – via Coindesk
The Australian Securities Exchange (ASX) has released its full 2019 financial report, offering some insight into its upcoming distributed ledger-based settlement system. A project that was announced back in late 2017 after trials with blockchain tech had proved promising, the DLT platform is aimed to replace ASX’s ageing CHESS settlement system using technology built by New York-based Digital Asset, then under the leadership of Blythe Masters.
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