Ethereum 

Crypto Banking Firm FairX Shuts Down Due to Lack of Financing

FairX, a financial services company involved with banking and digital assets, has shut down its operations as it failed to establish a licensed national bank. According to a FairX Twitter thread on July 19, the company has fallen short of setting up a licensed national bank due to a lack of funding. FairX was trying to raise funds for the planned bank over the past 14 months, which it described as: “… a new, licensed, fully regulated national bank, modeled as a financial market utility, that would work with individuals…

Read More
Bitcoin 

Wasabi’s CoinJoin Management Lacks Privacy

The official Samourai Wallet Telegram account raised concerns over the alleged lack of privacy ensured by the CoinJoin implementation of competing wallet Wasabi on July 18.  According to Samourai Wallet, Wasabi wallet CoinJoin transactions are often not as private as they are purported to be. The company pointed out: “With Wasabi if you are mixing 10 BTC [Bitcoin], I can trivially track that 10 BTC as it is peeled down into smaller UTXOS (unspent funds). […] Additionally Wasabi outputs are in the order in which they are registered, allowing you…

Read More
Blockchain 

Founder of Former ConsenSys-Backed Startup Sues Joseph Lubin for $13M

The founder of ConsenSys-incubated startup Token Foundry, Harrison Hines, is suing Ethereum co-founder Joseph Lubin for breach of contract. Per court documents filed with the Supreme Court of the State of New York County of New York, Hines has filed a lawsuit against Lubin in connection with “breach of contract, conversion, quantum meruit, unjust enrichment, fraud, declaratory judgment and unpaid profits arising from the defendants’ acts in connection with the business known as Token Foundry.” Hines thus intends to collect over $13 million, wherein “the relief sought is monetary damages…

Read More
Bitcoin 

South Korea: Crypto Crimes Cost $2.28B Since July 2017

The South Korean Justice Ministry estimates that cryptocurrency-related crimes have caused 2.69 trillion won (about $2.28 billion) of financial damage between July 2017 and June 2019. According to a July 21 report by English-language local media The Korea Herald, the ministry claimed that 132 cryptocurrency-related criminals and fraudsters had been indicted and detained, with another 288 indicted without physical detention during the aforementioned time frame. The report states that, while Justice Minister Park Sang-kim has ordered stern measures against cryptocurrency criminals, a lack of clear regulations on cryptocurrency exchanges has…

Read More
Ethereum 

Major Coins Trading Sideways With Moderate Losses, Bitcoin Near $10,400

Sunday, July 21 — Major coins are mostly trading sideways, remaining relatively quiet with moderate losses over the past 24 hours, according to data from Coin360. Market visualization from Coin360 The leading cryptocurrency Bitcoin (BTC) broke the $11,000 threshold earlier yesterday, but could not hold its position and dipped to its current price point of $10,406, down by 1.86% on the day. In terms of its weekly performance, BTC has lost 2.20%. Bitcoin 24-hour price chart. Source: Coin360 The second-largest crypto, Ether (ETH), has taken a downturn as well and…

Read More
Blockchain 

Noncustodial Crypto Exchanges, Explained | Cointelegraph

3. There are a number of advantages that make NCEs an appealing alternative to both centralized and decentralized cryptocurrency exchanges. User control: Firstly, users maintain control of their own crypto wallets, private keys and holdings. Some platforms allow users to remain anonymous by not requiring any documentation for account creation, others require customers to complete Know Your Customer (KYC) verification. Variety of crypto trading pairs: NCEs essentially act as aggregators of cryptocurrency trading pairs. They do not require users to deposit funds or crypto holdings and provide a wide range…

Read More
Ethereum 

BTC Outflow on BitMEX Exceeded Inflow by $73M: TokenAnalyst

Bitcoin (BTC) outflows on major crypto exchange BitMEX have notably exceeded the inflows after the firm was reported to be a subject in a regulatory investigation. Bitcoin outflows on BitMEX exceeded inflows by $73 million Over the past 24 hours, BitMEX saw an outflow of $83 million worth of Bitcoin, while only $12 million came in, London-based blockchain data provider TokenAnalyst reported in a tweet on July 19. 24-hour on-chain Bitcoin flows on major exchanges. Courtesy of: TokenAnalyst Twitter While such a discrepancy appears to be abnormal in comparison with…

Read More
Ethereum 

Bitcoin Retakes $11,000 Following Turbulent Week in Crypto

Charts Courtesy of Coin360.com July 20 — Bitcoin (BTC) has retaken the $11,000 price point on the heels of a turbulent week.  Charts Courtesy of Coin360.com After a bull market at the end of June brought the price of BTC to almost $14,000, the coin had largely been maintaining between $10,000 and $13,000 for most of the past month, briefly cracking $11,000 on July 15 before slipping below the $10,000 price point on July 16. For the past three days, BTC has been in the $10,000 range, but had faltered…

Read More
Bitcoin 

Coinbase CEO Wants Firm to Move Beyond Trading in Next 5 Years

Brian Armstrong, CEO of major American crypto exchange and wallet service Coinbase,  believes that the firm will be less about trading and more about adoption five years from now. Armstrong wants the firm to connect people in crypto industry  In an AMA session on July 19, Armstrong presented his vision of the company in five years, claiming that he sees Coinbase as not just a crypto trading service provider, but rather a more universal entity driving adoption to crypto. Armstrong pointed out Coinbase’s mission to help grow the global crypto…

Read More
Blockchain 

Bitcoin Approaches $11,000 With All Top 20 in Green

Saturday, July 20 — crypto markets have seen another upward move, with all top 20 coins by market cap seeing major gains, while Bitcoin (BTC) has approached $11,000 mark again. Market visualization from Coin360 After dipping below the $11,000 threshold on July 14, Bitcoin has approached the price point today, with its intraday high of $10,944, according to data from CoinMarketCap. The biggest cryptocurrency added 3.7% to its price to trade at $10,922 at press time. As Bitcoin has seen significant volatility this week, with its price having dipped below…

Read More