Blockchain 

What Is Libra? Breaking Down Facebook’s New Digital Currency

Facebook has been in the news quite often over the past few years — and usually for all the wrong reasons. The social media giant has been lambasted over its privacy practices, its seemingly anti-consumer stance and even an apparent investor revolt in which shareholders voted (albeit symbolically) to remove Mark Zuckerberg from the board of directors. However, the company’s most recent announcement that it is launching a digital currency appears to be finally turning the tide for Facebook. The new coin, dubbed Libra, is a stablecoin of sorts, though…

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Blockchain 

CDU and CSU Union to Integrate Blockchain Into Public Services

In Germany, the CDU and CSU Union wants to integrate blockchain technology into public services, Cointelegraph’s German-language version reported on June 25. The CDU and CSU Union represents the centre-right Christian democratic political alliance of two parties in Germany, the Christian Democratic Union of Germany (CDU) and Christian Social Union in Bavaria (CSU). In the original announcement published earlier today, the Union revealed that it wants to use blockchain for public service tasks such as administrative services, electronic health records, document protection, and registration. Specifically, the CDU and CSU Union…

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Blockchain 

Europol Arrests Six People Allegedly Behind $27 Million Bitcoin Theft

Europol, in conjunction with the United Kingdom’s South West Regional Cyber Crime Unit, the Dutch police, Eurojust, and the U.K.’s National Crime Agency (NCA), has coordinated the arrests of six people suspected of stealing over $27 million in cryptocurrency, according to a press release on June 25. The attackers reportedly were involved in typosquatting, a fraudulent means to steal credentials by setting up a scam website with a similar name to an established one—hence the “typo” in “typosquatting”—and then recording login data.  In this case, the report notes that Europol…

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Blockchain 

This Year BlockShow Is Gearing Up

I first dove heavily into blockchain in 2014 when I joined Cointelegraph. To set the stage, this was right around the time of shadow projects, bitcoin casinos, and the infamous Mt. Gox crash. Almost everyone with a media badge was negative about the budding industry, and those who weren’t were typically working anonymously. At that time, there were probably fewer than 1,000 people in the core community, and those were the people I was interested in. They were building projects, and truly believed in the concept behind crypto and blockchain…

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Blockchain 

Kraken Raises Over $13 Million In Its Latest Fundraising Round

San Francisco-based cryptocurrency exchange Kraken has raised over $13 million in financing on online investment platform BnkToTheFuture. Kraken has raised $13.5 million from 2264 investors, surpassing its initial target of $10.2 million purportedly due to popular demand. The fundraising campaign of Kraken — which has over four million clients in nearly 200 countries — is the most successful funding round by individual contributors on BnkToTheFuture. As previously reported, Kraken raised over $6 million in the first day of the campaign from almost 300 investors. On BnkToTheFuture, Kraken describes itself as…

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Blockchain 

US CFTC Approves LedgerX’s Application for Designation As Contract Market

The United States Commodity Futures Trading Commission (CFTC) has approved the application of LedgerX LLC for designation as a contract market, according to an announcement published on June 25. LedgerX — a U.S.-based regulated crypto derivatives and clearing platform — can operate as a designated contract market (DCM) as of June 24, 2019. The company’s activities will be registered under Section 5 of the Commodity Exchange Act (CEA) and Part 38 of the CFTC’s regulations. Registration as a DCM will require that LedgerX maintain compliance with all applicable provisions of…

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Blockchain 

Researchers Uncover Threat of ‘Unusual’ Virtual Machine Crypto Mining

Cybersecurity firm ESET has detected what it describes as an unusual and persistent cryocurrency miner distributed for macOS and Windows since August 2018. The news was revealed in a report from ESET Research published on June 20. According to ESET, the new malware, dubbed “LoudMiner,” uses virtualization software — VirtualBox on Windows and QEMU on macOS — to mine crypto on a Tiny Core Linux virtual machine, thus having the potential to infect computers across multiple operating systems. The miner itself reportedly uses XMRig — an open-source software used for…

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Blockchain 

Iranian Government to Cut Off Power to Crypto Mining Until Approval of New Energy Prices

The Iranian government will be cutting off power to crypto mining until new energy prices are approved, according to a report by local news agency Iran Daily on June 24. Mostafa Rajabi Mashhadi, an official at Iran’s Ministry of Energy, reportedly revealed that the country has seen a 7% spike of electricity consumption over a monthly period ending on June 21, 2019.  Rajabi emphasized the unusual nature of the spike, as opposed to similar time spans in the past years, revealing that the country’s power grid had evidently become unstable. …

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Blockchain 

Tezos, Cardano, EOS, Binance Coin, Neo

The crypto community will have to wait till the second half of May to know the fate of the Bitcoin ETF applications by VanEck and Bitwise, as the US SEC has again delayed its decision. Very few people expect the Bitcoin ETF to see the light of the day in 2019. Hence, even if it is not approved, the impact on crypto prices is likely to be limited. However, if the ETF is approved, it will be a pleasant surprise and will give a major boost to crypto prices. Currently,…

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Blockchain 

Synthetix Reverses Oracle Error-Caused Misplaced sETH in Exchange for a Bug Bounty

Following a recent oracle issue, asset issuance platform Synthetix will reverse the misplaced 37 million synthetic ether (sETH) in exchange for a bug bounty, Synthetix founder Kain Warwick stated on June 25. According to the statement, Synthetix has now resumed trading and transfers after the platform yesterday suffered an oracle error that led to several trades with profits of 1000x, resulting in more than $1 billion in profits in under an hour. Warwick, who is also CEO of Australia-based payment operator blueshyft, has described the details of the accident, noting…

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