Blockchain 

Crypto Wallet Says It Offers 1,000 EOS Accounts for Free

A crypto wallet provider says it has launched a giveaway that allows 1,000 users to get a free EOS account. Lumi Wallet notes the giveaway is taking place on a first-come, first-served basis. Instead of answering quiz questions, preparing a submission or entering into a lottery system, all that participants need to do is sign up in EOS for free. The promotion will end when all of the accounts have been snapped up. The company says the giveaway is in partnership with Minergate and Changelly, and comes as Lumi vies to become…

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Bitcoin 

California Public Accounts Seek Clarity on Cryptocurrency Holdings

The California Society of Certified Public Accountants (CalCPA) is seeking clarity on cryptocurrency holdings from the Financial Accounting Standards Board (FASB), according to a recent letter obtained by Cointelegraph. In the letter, CalCPA stated that accounting for digital currencies is not adequately captured under existing United States Generally Accepted Accounting Principles (GAAP) established by the FASB, and should be generally aligned with the accounting model for a foreign currency. The organization said that many of the features and risks of cryptocurrencies are similar to those of foreign currency. The society…

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Bitcoin 

Judge Freezes Funds in Accounts Belonging to Embattled Brazilian Crypto Firm

A Sao Paulo court has blocked funds in bank accounts linked to Grupo Bitcoin Banco — with 726,630 reals (about $188,000 at press time) frozen, Cointelegraph Brazil reported on June 5. Two people, along with one company, have accused GBB of engaging in abusive practices after they were unable to make conversions back into reals or withdraw funds to their bank accounts because of a temporary suspension on transactions. The trio claimed they have a total 726,630 reals on GBB’s platform and urged a judge at the Court of Justice…

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Blockchain 

Crypto Lending Startup BlockFi Launches Gemini Dollar Accounts

Cryptocurrency asset management company BlockFi announced that its interest-bearing accounts now support the gemini dollar (GUSD) in a post published on May 29. Per the announcement, GUSD deposits will see a yearly yield of 6.2%, paid in the stablecoin in question. BlockFi notes that it also offers GUSD as a U.S. dollar funding option and as collateral from institutional cryptocurrency borrowers. BlockFi CEO Zac Prince commented: “The implication of adding this functionality is that you could see crypto companies like BlockFi compete with traditional fintech challenger banks by taking advantage…

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Bitcoin 

LocalBitcoins Imposes Restrictions on Iranian Accounts

Major peer-to-peer cryptocurrency exchange LocalBitcoins.com has banned users living in Iran, according to their website as of today, May 24. Screenshot of LocalBitcoin Iranian page as of press time A source had previously told Cointelegraph in an email that the impetus for restricting Iranian transactions is to comply with financial regulations in Finland, where the headquarters of LocalBitcoins.com is located. Moreover, exchanges are purportedly cutting off Iranian users due to sanctions previously imposed on other exchanges by the United States. Major crypto exchanges Coinbase and Binance do not currently support…

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Bitcoin 

Hackers Used Microsoft Email Accounts to Steal Users’ Cryptocurrency, Report

In worsening news for users of Microsoft’s email services like Outlook, Hotmail and MSN, several cryptocurrency holders affected by a recent hack allege that the hackers responsible stole their crypto, as reported by Vice’s Motherboard on April 29.   One victim claimed on a Dutch tech forum to have lost just over 1 bitcoin (BTC), or almost $5,400 at press time, when hackers used his email account to reset his password and gain access to his Kraken account on March 31st.  Several Reddit users attested to similar experiences.   According to…

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Bitcoin 

Bitcoin Accounts for 98% of Crypto-Denominated Ransomware Payments, Study

Bitcoin (BTC) continues to account for the lion’s share of crypto-denominated ransomware payments, according to Coveware’s Q1 2019 Global Ransomware Marketplace report, published on April 15. The report — reportedly based upon aggregated ransomware data from cases tackled by Coveware’s Incident Response Team — indicates that in Q1 2019 the ransomware landscape saw a sharp increase in the average ransom demanded by threat actors. The average sum — demanded in exchange for the ostensible delivery of a decryptor tool that can help victims recover data after a ransomware attack —…

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Bitcoin 

CoinMarketCap Releases New Mobile App Version With User Accounts, Price Alerts

Crypto data tracker CoinMarketCap has released a new version of its app for iOS and its first Android app today, April 16, with added features for price tracking and user accounts. According to the website, the mobile app will include candlestick charts, daily historical open-high-low-close chart data and the option for setting price alerts on all cryptocurrencies available on CoinMarketCap. In order to use the app, users will have to make a CoinMarketCap account and log in. The app will also allow users to follow news from various media outlets,…

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Bitcoin 

BlockFi Lowers Interest Rates for Top Tier Crypto Deposit Accounts

Crypto wealth management and lending company BlockFi has lowered the interest rates for their biggest cryptocurrency deposit accounts, according to an official blog post on March 22. BlockFi launched the BlockFi Interest Accounts (BIA), cryptocurrency accounts supporting Ethereum (ETH) and Bitcoin (BTC), earlier in March. The accounts initially offered a 6.2 percent annual interest paid monthly in crypto. The company’s further analysis showed that almost 75 percent of the clients have a balance of less than 5 BTC or 150 ETH, while the median account balance is $7,000. Per the…

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Bitcoin 

Coinbase Links User Accounts on Its Main Platform to Its Wallet App

Cryptocurrency exchange and wallet service Coinbase has introduced a service to link users’ accounts on its main platform to its Coinbase Wallet app, according to an announcement on March 12. According to the company, Coinbase Wallet is slightly different from the main app, referred to as Coinbase.com. With the latter, a customer’s cryptocurrencies and private keys are stored by Coinbase. With Coinbase Wallet, users store their own crypto protected by their unique private keys. The exchange has explained that the wallet can now be connected to accounts on its main…

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