Blockchain 

Tether’s Trouble With New York Attorney General — Will Crypto Cope?

Are Bitfinex and Tether in trouble? Maybe, but the thing is, we don’t know just how much trouble, because the stablecoin issuer has challenged the New York State Office of the Attorney General’s (OAG) case against them. In claims filed in April, Attorney General Letitia James asserted that Bitfinex defrauded its customers, having lost $850 million in client and corporate funds, and then having attempted to cover up this loss by secretly helping itself to around $900 million of Tether’s cash reserves.  Serious charges, but they’re denied by Bitfinex and…

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Blockchain 

Crypto Wallet’s Browser Offers Thousands of DApps in One Place

A mobile crypto wallet has announced that users can now effortlessly access thousands of decentralized applications (DApps) directly through its platform. Lumi Wallet says its motivation is to create a one-stop-shop for crypto enthusiasts — a whole ecosystem focused on convenience and simplicity. At the heart of this strategy has been an ambition to streamline the process of downloading DApps. According to Lumi Wallet, it was driven to act after seeing how frustrating the experience can be for smartphone and tablet owners. Not only do individual pieces of software take…

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Blockchain 

Bitcoin an ‘Unstoppable Force,’ US Congressman Tells Crypto Hearing

Bitcoin’s (BTC) plight in Congress has seen attention focus mainly on naysayers, but this week’s hearing also saw United States politicians accept it was always beyond their control. ‘Governments cannot stop this innovation’ During testimony on July 17, U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, told lawmakers directly that attempts to stop Bitcoin were futile. “The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force,” he said. McHenry runs in sharp contrast to other Congressmen making the headlines…

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Bitcoin 

Coinbase Drops Its Crypto Bundle Product Without Any Explanation

Major United States-based crypto exchange Coinbase has discontinued its Coinbase Bundle crypto investment offering, the platform’s updated FAQ site reveals. Coinbase Bundle product is no more Reasons for discontinuation of the product — which had only just launched in fall 2018 — have not been officially provided, with the exchange simply notifying users that: “Coinbase Bundle purchases have been deprecated, as such all assets purchased in the Coinbase Bundle have been redistributed to their respective individual asset wallets.” In a further comment, Coinbase says that while users will no longer…

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Blockchain 

Mexican Crypto Exchange Bitso Seals DLT License from Gibraltar Regulator

Mexican cryptocurrency exchange Bitso will from now on be regulated by the Gibraltar Financial Services Commission (GFSC), a July 19 announcement revealed. An apparent first in Latin America In what Bitso claims is an apparent first in Latin America, as of August 1, the custody, withdrawals, deposits and trading of cryptocurrencies on its platform will be overseen by the GSFC under a framework specifically evolved to regulate businesses in the distributed ledger technologies (DLT) sector.  GSFC’s Distributed Ledger Technology Regulatory Framework — finalized in January 2018 — focuses on ensuring…

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Blockchain 

Israeli Citizen Accused of Stealing Over $1.7 Million in Crypto

Eliyahu Gigi, a 31-year-old from Tel Aviv, has been charged with stealing over $1.7 billion in a variety of cryptocurrencies. Gigi allegedly stole BTC, Ethereum, and Dash from users in the Netherlands, Belgium, and Germany.  Lawyer Yeela Harel of the cyber department in the State Attorney’s Office filed charges against Gigi on July 17, according to a report published the same day by Globes. Gigi has reportedly been charged with crimes including theft, fraud, and money laundering, among others. According to the report, Harel’s indictment claims that Gigi set up…

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Ethereum 

BitMEX in Violation of Securities Laws, Crypto a Metastasized Cancer

Economist and anti-cryptocurrency pundit Nouriel Roubini has recently declared that there is “overwhelming evidence of rampant fraud and abuse” in the crypto space.  Roubini, a professor at NYU’s Stern School of Business, also took aim specifically at the compliance policies of crypto exchange BitMEX in an essay entitled “The Great Crypto Heist.” The essay was published by opinions publication site Project Syndicate on July 16. According to Roubini, anonymous sources from within BitMex told him that criminals perform a massive amount of money laundering on the exchange: “BitMEX insiders revealed…

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Ethereum 

Trump Tweets Crypto Rant — What Is the Bitcoin Reference Really About?

Over the last few years, United States President Donald Trump’s tweetstorms have become a peculiar yet amusing feature of American public life. The president’s off-the-cuff comments have served a wide variety of purposes, from enriching political discourse with the mysterious term covfefe to delivering direct threats — furnished with proper capitalization — to the leadership of the nations deemed U.S. adversaries. The most newsworthy rants almost invariably felt improvised, emotional and reactive. However, the historic series of tweets that constituted the first-ever public comment on cryptocurrencies by a sitting U.S. president didn’t…

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Ethereum 

US Chamber of Digital Commerce Onboards Crypto Exchange ErisX

The United States Chamber of Digital Commerce has taken aboard cryptocurrency exchange ErisX. Per a press release shared with Cointelegraph on July 18, ErisX has become a member of the Chamber of Digital Commerce, an advocacy group that promotes the digital asset and blockchain industry.  ErisX thus joined other heavyweights of the industry such as Fidelity Investments, Overstock.com’s Medici Ventures, enterprise blockchain software firm R3, stablecoin platform TrustToken and professional services company Accenture, among many others. ErisX CEO Thomas Chippas stated: “The Chamber of Digital Commerce and its member initiatives…

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Bitcoin 

Top-5 Crypto Tokens Pronounced ‘Dead’ — NEM and BCC Head the List

In 2017, the cost of Bitcoin (BTC) reached almost $20,000, and in December 2018, its rate fell to $3,187 per token. Nevertheless, it is a solid price movement for a currency, which was created from nothing about 10 years ago. Bitcoin still dominates the portfolios of most crypto investors and is by far the most popular cryptocurrency, meaning its price is less prone to drops than the rest of the market.This is also indicated by the CoinMarketCap dominance chart. But what about the rest of the cryptocurrencies that have appeared…

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