Image Image Image Image Image Image Image Image Image Image Image Image

| October 21, 2018

Scroll to top

Top

Roundup Archives -

Exchanges Roundup: Yobit Unveils Random Coin Pump, Okcoin USA Plans Stablecoin

October 11, 2018 |

In recent news pertaining to crypto exchanges, Yobit has announced a “random coin” pump for Oct. 11, the founder of Okgroup has announced Okcoin USA’s plan to launch a stablecoin, and Coinbase’s chief policy officer has predicted that the exchange will attain Japanese regulatory approval by 2019.

Also Read: A Bitcoin Rat Is Occupying Wall Street

Skepticism on Twitter over
Aggressive Yobit Campaign

Yobit, the shadowy Russian cryptocurrency exchange, has announced an upcoming “Yobit Pump” scheduled for 9 a.m. EDT on Oct. 11. According to Yobit’s Twitter, the pump will see Yobit purchase one random coin for 1 BTC every one to two minutes, 10 times.

The comments section beneath the tweet shows a predominantly critical reaction to an aggressive promotional campaign premeditated by an exchange that’s already mired in controversy. Last year, Forbes Ukraine reported that Roskomnadzor, the Russian telecommunications regulator, had launched juridical proceedings against Yobit, with Roskomnadzor seeking to block Russian IP addresses from accessing the exchange.

In 2016, Waves also published a warning pertaining to Yobit after the exchange listed a waves/BTC pairing, even though users were unable to withdraw the cryptocurrency from private Waves wallets at the time.

Okgroup Founder Vows Full Compliance
with Planned Stablecoin

Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA StablecoinStar Xu, the founder of Okgroup, has announced that Okcoin USA is planning on entering the stablecoin market.

In a recent tweet, Mr. Xu posted: “Embracing the tide of technology, the launch of a #CNY backed #stablecoin is an inevitable trend, and it will significantly improve the internationalization of the RMB. OKCoin USA will launch a fully compliant stablecoin.” Xu added that “the dollar-pegged #stablecoin regulated by the U.S. government will strengthen the penetration of the U.S. dollar 100 fold.”

Xu also spoke in favor of stablecoins, stating: “Stablecoins are in essence electronic cash. They have the same attributes. The central bank issues the currency and then it is distributed peer-to-peer. The difference is it’s electronic. Today, the amount of cash in China’s domestic monetary system is not small.”

Coinbase Executive Optimistic About Securing Regulatory Approval in Japan

Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA StablecoinIn a recent interview with Nikkei Asian Review, Mike Lempres, the chief policy officer of Coinbase, optimistically discussed the exchange’s desire to obtain regulatory approval to operate in Japan.

Lempres stated that talks are “going well” with Japan’s Financial Services Authority, adding: “We are … committed to getting it done. It will certainly be in 2019.”

Lempres also spoke favorably of the Japanese regulatory system relating to cryptocurrencies. “The Japanese government is more focused on security,” he explained. “That is good for us … Japan has been an active large market from the very beginning, and has proved resilient as it bounces back from several bad experiences. We think there is great demand for a trusted provider of services here.”

Despite his praise for Japan’s crypto regulations, Lempres noted that there are still several issues to be resolved, including whether or not the regulator would require Coinbase to manage its systems from within Japan in order to obtain a license. “We have everything built to protect our storage … in the U.S,” he stated. “We won’t do anything to even raise (the) possibility of a hack. It would be hard for us to duplicate what we do in the U.S. today in Japan and other countries.”

What is your response to Yobit’s random coin pump? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Twitter


The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page.

The post Exchanges Roundup: Yobit Unveils Random Coin Pump, Okcoin USA Plans Stablecoin appeared first on Bitcoin News.

Bitcoin News

Deep Web Roundup: 20 Years for ‘Oxymonster,’ New Darknet Monitoring Tool

October 10, 2018 |

Deep Web Roundup: 20 Years for ‘OxyMonster’, New Darknet Monitoring Tool

Two stories stand out in our latest trawl of the deep web for news that filters through to the cryptosphere. One concerns the sentencing of Dream vendor “Oxymonster,” whose controversial prosecution on U.S. soil is part of a wider trend. We also take a look at Blocktag, a new tool for monitoring darknet sales.

Also read: Deep Web Roundup: Intelligence Official Charged With Selling Secrets, Disney Visits the Darknet

Gal Vallerius Sentenced to 20 Years

Gal “Oxymonster” Vallerius has been sentenced for drug trafficking following his August 2017 arrest in Austin, Texas. The Dream market vendor, who specialized in selling oxycontin, memorably flew in to participate in a beard contest, only to be greeted by U.S. federal agents, who had doxxed him by using blockchain forensics and writing analysis. Law enforcement succeeded in tying Oxymonster’s bitcoin core (BTC) tip jar to a Localbitcoins.com account registered in the hirsute Frenchman’s real name.

Deep Web Roundup: 20 Years for ‘OxyMonster’, New Darknet Monitoring Tool
Gal ‘Oxymonster’ Vallerius

Vallerius’ case drew attention on account of the Texan trip that proved to be his downfall, but also due to the way in which law enforcement officials commandeered the case, rather than giving the French authorities the option to prosecute Vallerius in his homeland. News.Bitcoin.com recently reported on a similar case involving Alphabay ringleader Alexandre Cazes, noting:

Just because crimes involving narcotic deals took place in America, weirdly … the U.S. seemingly has the right above anyone to seize Cazes’ property, and charge him
and his accomplices in U.S. trials.

In the case of Oxymonster, U.S. District Judge Robert N. Scola Jr. ordered the forfeiture of 100 BTC and 121 bitcoin cash (BCH). The latter cryptocurrency was less than a month old when Vallerius was arrested, just as he prepared to take center stage at the Austin beard competition. Despite a desperate plea for clemency from his wife, the judge handed down a stiff sentence that will ensure Vallerius won’t return home until 2038.

New Research Paper Proposes
Darknet Marketplace Monitoring

Users of darknet markets (DNMs) are finding it harder to pursue their largely benign hobby in peace. What used to be a solitary pursuit conducted away from the eyes of the law and the general public has become an activity subject to scrutiny, demonization, and potential prosecution. Numerous tools have been introduced or proposed that chip away at the anonymity traditionally enjoyed by DNM customers. A new research paper proposes a tagging system to monitor the flow of cryptocurrencies and the demand for goods as they flow through DNMs.

Deep Web Roundup: 20 Years for ‘OxyMonster’, New Darknet Monitoring Tool

The open-source Blocktag algorithm enables blockchain addresses associated with DNM activity to be linked, along with user accounts on product listings and sites such as Dream and Wall Street. Blocktag will make it easier for researchers — or more likely, law enforcement — to connect the dots, associating DNM activity with related Bitcointalk forum posts and social media accounts. One of the ways in which Ross Ulbricht was caught was on account of Bitcointalk posts the Silk Road founder had made promoting the site.

The authors of the Blocktag paper concluded: “Blockchain analysis has become a hot topic among researchers and law enforcement agencies for applications that demand more effective tools … we used Blocktag to uncover privacy issues with using bitcoin in Tor hidden services, and flag bitcoin addresses that are likely to be part of a large Ponzi scheme.”

Do you think U.S. prosecutors are guilty of overreach in pursuing suspects whose alleged deep web crimes were committed abroad? Let us know in the comments section below.


Images courtesy of Shutterstock, and Blocktag.


Need to calculate your bitcoin holdings? Check our tools section.

The post Deep Web Roundup: 20 Years for ‘Oxymonster,’ New Darknet Monitoring Tool appeared first on Bitcoin News.

Bitcoin News

Exchanges Roundup: Glen Oaks Escrow Supports Crypto, Binance to Delist 4 Altcoins

October 10, 2018 |

Exchanges Roundup: Glen Oaks Escrow Supports Crypto, Binance to Delist Four Altcoins

In recent news pertaining to cryptocurrency exchanges, Glen Oaks Escrow has announced that it has partnered with Bitpay to support cryptocurrency payments and Binance has revealed that it will delist bytecoin, chatcoin, iconomi and triggers next month. Etoro, meanwhile, has announced a “significant cut” in the spreads on cryptocurrency markets on its platform.

Also Read: Korean Crypto Exchange Sued for Controversial Token Schemes 

Glen Oaks Escrow to Back Crypto
Payments Through Bitpay

California-based escrow company, Glen Oaks Escrow, has announced that it now supports cryptocurrencies under a new partnership with Bitpay. The company states that the increased prevalence of real estate listings that accept cryptocurrency as payment as the principal motivation behind the decision.

Joe Curtis, Glen Oaks’ chief operating officer, stated: “Increasingly, blockchain and cryptocurrencies have the potential to become a bigger part of real estate transactions, and this is one step to be ahead of the curve and enable transactions to happen through this vehicle (…) It’s still a young technology in our space, but we are committed to being at the forefront to enable transactions in this way.”

The partnership will see Bitpay convert escrowed cryptocurrencies into cash, before wiring funds into escrow accounts, meaning that the seller in a transaction will not handle any cryptocurrencies.

Binance Delists BCN, CHAT, ICN and TRIG

Binance has announced that it will soon delist bytecoin (BCN), chatcoin (Chat), iconomi (ICN) and triggers (TRG) at 10 a.m. UTC on Nov. 12.

The announcement states that said altcoins have failed to meet the exchange’s criteria for continued support, including the “commitment of (a) team to (its) project,” the “quality and level of development activity,” “network/smart contract stability,” the “level of public communication and activity,” the “responsiveness (of the team) to (Binance’s) periodic due diligence,” whether a coin “contribut(es) to a healthy and sustainable crypto ecosystem,” and whether a coin evidences “unethical/fraudulent conduct.”

Etoro Reduces Crypto Spreads

Etoro, an asset brokerage and social trading platform, has announced a “significant cut in (the) spread on cryptoassets,” describing the move as “part of its ongoing efforts to increase awareness of the potential of crypto and blockchain broadly.” The company claims that the spreads on BTC have been “cut by more than half.”

The co-founder and chief executive officer of Etoro, Yoni Assia, stated: “We are also committed to raising awareness among investors of the potential offered by crypto and the blockchain technology that underpins it. This includes sponsorship, advertising, speaking at events and producing educational material. Yes, crypto is highly volatile and not appropriate for all investors, but we also believe that for many it can have a role to play as part of a diversified long-term portfolio.”

Assia continued: “Over and over again we see headlines announcing the end of crypto, yet in reality we continue to see interest in and demand for these assets. The huge price rally at the end of 2017 brought crypto to the attention of the masses and thrust these infant tech companies into the spotlight. Since then prices have stabilized and the crypto industry has had the chance to catch its breath. It has used this opportunity to engage with and educate regulators and participants across traditional finance services as to the opportunities offered by crypto and blockchain more broadly. At eToro, we welcome appropriate regulation for crypto and believe that it will accelerate mass adoption.”

“Crypto is here to stay. We believe that in the future all assets will be tokenized and that crypto is just the first step on this journey,” he concluded.

Do you think that more escrow companies will soon support cryptocurrencies? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Glen Oaks Escrow, Etoro


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Exchanges Roundup: Glen Oaks Escrow Supports Crypto, Binance to Delist 4 Altcoins appeared first on Bitcoin News.

Bitcoin News

Exchanges Roundup: Coinbase Volumes Hit 1-Year Low, UK Exchange to Fire Most Staff

October 9, 2018 |

Exchanges Roundup: Coinbase Volumes Hit 1-Year Low, UK Exchange to Fire Most of Staff

Recent updates show that with the cryptocurrency markets performing far from how they did a year ago, some exchanges have failed to adapt to the current situation. For example, one U.K. firm is reportedly set to fire most of its employees. Yet other exchanges are still going strong, breaking into new territories and adding new trading instruments.

Also Read: The Daily: Crypto Funds Team up With New Startup Hub, FX Broker Adds BCH/BTC

Weak Quarterly Trading Volumes

Diar, an analysis service for the global digital currency industry, has issued a report highlighting the extremely weak performance of popular crypto exchanges during the third quarter of the year. For example, total USD trading volumes on Coinbase reached their lowest point in a year and total USDT trading volumes on Binance fell from $ 235 billion in the first quarter to just $ 106 billion.

Exchanges Roundup: Coinbase Volumes Hit 1-Year Low, UK Exchange to Fire Most of Staff

As the report shows, one way the exchanges are looking to secure growth for the future is by moving toward tokenized securities.

“Having made bank on the trading bonanza in the past year, cryptocurrency exchanges are also acutely aware that, for the most part, the tokens they list don’t currently satisfy a utility purpose,” Diar explained. “Diving into deep pockets, exchanges are diversifying their portfolio by investing in various parts of the ecosystem to support the long-term growth of an industry stuck in development. But most notably, exchanges have amped up their investment interest for the possible issuing and trading of tokenized securities.”

Coinfloor to Fire Over Half its Employees

Exchanges Roundup: Coinbase Volumes Hit 1-Year Low, UK Exchange to Fire Most of StaffCoinfloor is in the process of firing most of its staff, according to a report by the Financial News, citing two people familiar with the matter. Founded in 2013 with backing from Transfer Wise founder Taavet Hinrikus, venture capital firm Passion Capital and Adam Knight, Coinfloor was estimated to employ about 40 people before the newly planned cuts.

Coinfloor CEO Obi Nwosu told the London-based newspaper that the company has “seen significant change in trade volume across the market.” He also stated that: “Coinfloor is currently undergoing a business restructure to focus on our competitive advantages in the marketplace and to best serve our clients. As part of this restructure, we are making some staff changes and redundancies.”

Israeli Exchange Looks Abroad

Exchanges Roundup: Coinbase Volumes Hit 1-Year Low, UK Exchange to Fire Most of StaffAccording to Israeli media reports, Tel Aviv-based exchange Bit2c is looking to offer its services into foreign markets. The exchange has reportedly acquired a Gibraltar-based firm, Eyos, that is said to be in advanced phases of receiving a distributed ledger technology (DLT) license from the local regulatory authorities that can be used to accept clients from across the EU.

“This is a significant breakthrough in making unique Israeli technology more accessible while providing a professional and experienced service to the whole of Europe, and all in the framework of a license that will enable a range of trading activities, payment options and cooperations with traditional financial institutions such as banks, credit companies and insurance companies,” Bit2c CEO Eli Bejerano said. “We continue to examine other markets, and in the future we will act to get additional licenses around the world.”

Bequant Launches EUR Stablecoin

Exchanges Roundup: Coinbase Volumes Hit 1-Year Low, UK Exchange to Fire Most of StaffBequant, a London-based global exchange, has announced the launch of Stasis’ stablecoin EURS. The company explains that the launch of the token, meant to be backed 1-for-1 by the euro, will allow safe investing for its European institutional investors in a reliable asset.

“The cryptocurrency sector is constantly striving for ways to encourage transparency, reliability and trust from investors — both institutional and individuals. Doing so not only builds trust within the industry, but also establishes clear regulation and controls that make crypto-assets a desirable choice for any investor’s portfolio. Stablecoins hold huge advantages in making this goal possible, tying themselves to a more traditional asset,” said CEO George Zarya.

“STASIS EUR’s work in creating a more reliable asset will help build the credibility of cryptocurrency in the wider financial market through its improved processes aimed at providing a more secure asset for investment. Its listing on BeQuant presents a huge opportunity for investors to get involved with a currency that is already giving previously cautious investors access to the world of crypto.”

Should we expect more exchanges to cut staff as trading volumes drop? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Exchanges Roundup: Coinbase Volumes Hit 1-Year Low, UK Exchange to Fire Most Staff appeared first on Bitcoin News.

Bitcoin News

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists Altcoins

October 8, 2018 |

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists Altcoins

In recent news pertaining to cryptocurrency exchanges, images circulating online show Pantera Capital’s Digital Asset Fund had a lifetime-to-date performance of minus 40% as of the end of August, Bittrex has announced the delisting of Bitshares, Bitcoin Gold, and Bitcoin Private, and Indian cryptocurrency exchange, Bitbns, has been accused of falsifying its trade volume.

Also Read: Rapper Soulja Boy Releases New Single Titled ‘Bitcoin’

Pantera Digital Asset Fund Posts 40% Lifetime Loss So Far

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists AltcoinsA post circulating on Twitter detailing the “August performance” of Pantera Capital’s Digital Asset Fund shows that the fund’s life-to-date losses were 40.8% as of the start of September.

The post also shows that the fund lost 22.3% in August alone, and is down 72.7% from the all-time highs posted by the fund in January.

Earlier this month, Bloomberg reported that the Grayscale Bitcoin Investment Trust has lost 80% of its value when compared with the fund’s December 2017 all-time highs after it recently established a new for 2018, signifying that the bearish performance of cryptocurrencies has fueled losses across numerous virtual currency funds.

Bittrex Delists BTS, BTG, and BTCP

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists AltcoinsBittrex, the thirty-fifth largest cryptocurrency exchange by trade volume according to Coinmarketcap’s adjusted volume rankings, has delisted Bitshares (BTS), and Bitcoin Gold (BTG), and scheduled the delisting of Bitcoin Private (BTCP) for November 5th – citing low volume.

As of this writing, BTG has a 24-hour trade volume of nearly $ 4.7 million despite the Bittrex delisting, whilst approximately $ 3 million worth of BTS, and nearly $ 155,000 worth of BTCP has changed hands in the last day.

It total, Bittrex facilitated nearly $ 40.1 million worth of trade in the last 24 hours as of this writing.

Bitbns Accused of Faking Trade Volume

Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists AltcoinsA post authored by Indian cryptocurrency trader Karthik Varma has accused Bitbns of consistently faking its reported volume.

The author asserts that after launching in December, the exchange went on a listing spree in order to attract traders and liquidity, adding that the exchange was accused of faking volume in March following abnormalities in the trade volume of ETN – to which the exchange responded by stating that a bug in the company’s system was causing incorrect volume calculations.

In July 2018, the author asserts that Bitbns maintained strong volume despite trading activity on “most of the Indian exchanges […] decreasing drastically,” prompting analysis of Bitbns’ trade logs on the part of Mr. Varma.

According to Mr. Varma’s analysis, ”The volume reported” by Coinmarketcap for XRP pairings on Bitbns is “more than 500% than the actual volume,” and that the reported volume for BTC on the exchange is “668% than the actual volume.”

Do you think that the practice of falsifying trade volume is common among cryptocurrency exchange? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page.

The post Exchanges Roundup: Pantera Fund Down 40%, Bittrex Delists Altcoins appeared first on Bitcoin News.

Bitcoin News

Regulations Roundup: Crypto-Intermediaries in France, SEC Deadline for Rejected ETF Commentary

October 7, 2018 |

Regulations Roundup: Crypto-Intermediaries in France, SEC Deadline for Rejected ETF Commentary

In recent news pertaining to cryptocurrency regulations, French lawmakers are considering a proposed amendment that would introduce a regulatory framework for crypto-asset intermediaries; the U.S. Securities and Exchange Commission (SEC) has announced October 26th as the deadline for the submission of public comments relating to the nine exchange-traded funds (ETFs) it recently rejected; and a U.S Commodity Futures Trading Commission (CFTC) cryptocurrency subcommittee has sparked debate surrounding self-regulation in the cryptocurrency industries.

Also Read: Norway Establishes New Rules for Crypto Service Providers

France Contemplates Regulations for Crypto-asset intermediaries

Regulations Roundup: Crypto-Intermediaries in France, SEC Deadline for Rejected ETF CommentaryFrance is contemplating introducing legislation that would enforce a regulatory framework specifically governing the operations of crypto-asset intermediaries.

According to Mondaq, if passed, the proposed amendment will “add a new category of investment services providers to the French Monetary and Financial Code (MFC), referred to as crypto-asset services providers, which would be subject to either mandatory or optional requirements.”

“Crypto-asset services” are broadly defined as encompassing traditional investment services performed in relation to crypto-assets.

The draft legislation proposes enforcing a mandatory regulatory framework for “cryptographic keys custodians and fiat/crypto exchanges, however, also states that all crypto-asset services providers will be allowed to request a non-mandatory license delivered by the Autorité des Marchés Financiers (AMF).”

SEC Sets October 26th as Deadline for Public Comment on Rejected ETFs

Regulations Roundup: Crypto-Intermediaries in France, SEC Deadline for Rejected ETF CommentaryThe U.S. SEC has set October 26th as the deadline for public commentary pertaining to the nine cryptocurrency exchange-traded funds that it rejected on the 22nd of August.

An “Order Scheduling Filing of Statements on Review” authored by SEC assistant secretary, Eduardo A. Aleman states that “It is further ordered that the order disapproving [the ETFs] shall remain in effect pending the Commission’s review.”

The rejected ETFs were pursued by Proshares, Graniteshares, and Direxion, with the SEC citing concerns pertaining to market manipulation.

Last month, the SEC published an “order instituting proceedings to determine whether to approve or disapprove a proposed rule change to list and trade shares of Solidx bitcoin shares issued by the Vaneck Solidx Bitcoin Trust,” with the regulator also requesting further public comments regarding the proposed ETF.

Self-Regulation Discussed at CFTC Crypto Subcommittee Meeting

Regulations Roundup: Crypto-Intermediaries in France, SEC Deadline for Rejected ETF CommentaryThe U.S. CFTC’s Technology Advisory Committee (TAC) subcommittee on cryptocurrency held a meeting on Friday intended to “spur further discussion about how the CFTC, other regulators, spot platforms, and market participants can all contribute to enhancing this market’s credibility and safety,” according to CFTC commissioner Brian Quintenz.

Richard Gorelick, head of market structure at DRW Holdings, suggested that “smart regulation” should be balanced alongside self-regulatory efforts from within the cryptocurrency industries, stating: “One of the points we raised on the subcommittee was that there is an opportunity for industry organized efforts to help fill some of these gaps. They could be self-regulatory organizations or similar structures that help to define and enforce best practices and standards and accountability across the industry and there are efforts underway to start thinking about and building these types of organizations.”

“There are lots of precedents in the traditional financial markets that we can look to for innovative governance structures that apply with markets that touch multiple jurisdictions,” he added.

What is your response to France’s proposed regulations for crypto-asset intermediaries? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Regulations Roundup: Crypto-Intermediaries in France, SEC Deadline for Rejected ETF Commentary appeared first on Bitcoin News.

Bitcoin News

Exchanges Roundup: Tether, Bitfinex Drop Noble Bank, Bitmex Hires COO

October 3, 2018 |

Exchanges Roundup: Tether/Bitfinex Drops Noble Bank, Bitmex Hires COO

In recent news pertaining to cryptocurrency exchanges, Noble Bank is looking to sell after reportedly losing Bitfinex and Tether as clients, Bitmex has announced the former compliance head of Hong Kong Exchanges and Clearing Limited as its new chief operating officer, and Huobi’s director of research into blockchain applications has discussed the company’s goals for its upcoming transfer of operations onto its public ledger.

Also Read: Chrome Extensions Will Soon Protect Against Miners and Hackers

Noble Bank to Sell Amid Loss of Clients Tether and Bitfinex

Exchanges Roundup: Tether/Bitfinex Drops Noble Bank, Bitmex Hires COONoble Bank International, a Puerto Rican financial services firm known for servicing Tether and Bitfinex, is reportedly looking to sell.

Informed by “a person with direct knowledge of the situation,” Bloomberg reports that “The bank has lost many of its customers, including Bitfinex and Tether, and is no longer profitable […] The company could sell itself for a price between $ 5 million and $ 10 million, based largely on the value of its Puerto Rican license to operate as an international financial entity.”

Bitmex Hires Former Hong Kong Exchanges and Clearing Limited Compliance Head

Bitmex has hired Angelina Kwan as the exchange’s new chief operating officer. Mrs. Kwan is the former managing director and head of regulatory compliance for Hong Kong Exchanges and Clearing Limited, and has also spent eight years working for the Securities and Futures Commission of Hong Kong.

Exchanges Roundup: Tether/Bitfinex Drops Noble Bank, Bitmex Hires COOMrs. Kwan stated: “In addition to being a true market leader among trading platforms, Bitmex shares my value of gender inclusion, particularly in STEM fields. Cryptocurrency markets present an exciting new opportunity for women to get involved in the intersection of finance and technology, two fields in which they are chronically under-represented. Bitmex has made its commitment to meritocracy clear, and is sending the message that women with deep backgrounds in finance and business can execute at the highest level within cryptocurrency companies.”

Arthur Hayes, the chief executive officer and co-founder of Bitmex welcomed Mrs. Kwan to the company, stating: “I believe Angelina’s decision to join us is a signal that the global markets are shifting focus to the rapidly-expanding domain of crypto-coins. Angelina’s vast experience in regulation, trading platforms, business development, restructuring, and investor and stakeholder relations will be pivotal as we continue the push towards mainstream cryptocurrency adoption and broaden our community.”

Huobi Readies to Transfer Operations to Public Blockchain

Exchanges Roundup: Tether/Bitfinex Drops Noble Bank, Bitmex Hires COOThe second largest cryptocurrency exchange according to Coinmarketcap’s adjusted volume rankings, Huobi, is preparing to migrate its operations to the company’s public blockchain.

In a recent interview, the director of Huobi Research of Blockchain Application, Hubery Yuan, stated: “We want it to become the world’s top public chain in terms of technolog[ical] sophistication. And a highly competent public chain coupled with strong operations, ecosystem, and communities can bring out great synergy.”

Voting to appoint the head of Huobi’s operational transfer project is currently underway.

Do you think that more cryptocurrencies will seek to conduct their operations on the blockchain? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page.

The post Exchanges Roundup: Tether, Bitfinex Drop Noble Bank, Bitmex Hires COO appeared first on Bitcoin News.

Bitcoin News

Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member Registrations

October 3, 2018 |

Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member Registrations

The largest crypto exchange in Japan, Bitflyer, has announced a major organizational overhaul. A new representative director has been appointed to oversee the exchange’s day-to-day operations. Meanwhile, hacked crypto exchange Zaif has stopped accepting new customers as regulators ramp up oversight of exchange operators.

Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

Zaif Halts New Memberships

Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member RegistrationsOsaka-based crypto exchange Zaif, one of the 16 regulated crypto exchanges in Japan, has suspended signing up new members. “We decided to temporarily stop accepting new membership registration at 21 o’clock on September 28,” Zaif’s operator, Tech Bureau, announced Friday. The company clarified, “Customers who are waiting for registration, such as being already in the process of identity verification by applying for membership registration, will register as usual as a member,” adding:

We are responsible for recovering the damage to all existing customers who were victimized by the current virtual currency outflow, but to do so, [we need] to concentrate our internal resources.

Zaif was hacked on Sept. 14 but the breach was not discovered until Sept. 17. The total damage is estimated to be about 7 billion yen (~$ 62 million). Tech Bureau claims that approximately 5,966 BTC, 42,327 BCH, and 6,236,810 MONA were stolen. The country’s Financial Services Agency (FSA) has issued the company a third business improvement order.

Bitflyer’s Overhaul

Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member RegistrationsBitflyer announced Monday, Oct. 1, a change in the company’s organizational structure. “Today marks the establishment of the holdings company, Bitflyer Holdings Inc.,” the firm announced. Bitflyer Inc., which operates Japan’s largest crypto exchange, “has become a wholly-owned subsidiary of Bitflyer Holdings Inc. by means of a stock transfer.” In a joint statement, Bitflyer Inc. and Bitflyer Holdings Inc. clarified, “Everyone will be able to use our services and trade just as they always have,” noting:

The purpose for creating a holdings company is to separate administrative and operational functions, to clarify the duties and responsibilities of each function, to strengthen corporate governance, and to create a more thorough compliance structure.

Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member RegistrationsOn June 22, Bitflyer Inc. halted new account registrations after it was issued a business improvement order by the FSA. “In order to maximize our efforts towards building a suitable service and improving on the issues identified, we have voluntarily and temporarily suspended the onboarding of new customers,” the exchange explains on its website.

With the establishment of the holdings company, Yuzo Kano has stepped down as the representative director of Bitflyer Inc. to become the CEO of Bitflyer Holdings Inc. Nobuyoshi Suzuki from Mitsui Bank Ltd has been appointed the new representative director of Bitflyer Inc.

Self-Regulatory Plans

Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member RegistrationsOn Sunday, Sept. 30, Jiji Press reported that the Japan Virtual Currency Exchange Association (Jvcea) “will set a ceiling on the amount of digital currencies managed online,” citing unnamed sources. Members of the association are the 16 regulated crypto exchanges, including Zaif and Bitflyer. The group has filed for accreditation with the FSA to become an organization that can legally enforce self-regulation on its members. The news outlet added that according to the sources:

The ceiling is likely to be around 10 to 20 percent of customer deposits.

The group was established in response to the hack of Coincheck in January and has been working on implementing self-regulation. With the hack of Zaif, the group “plans to tighten self-regulatory measures it follows on the management of customer assets,” the publication described. The news outlet further detailed that the group “will shortly revise the self-imposed rules, drawn up in July, and implement them once it is certified by the Financial Services Agency.”

FSA’s Priority Report

The FSA published a report entitled Financial Services Policy: Assessments and Strategic Priorities 2018 on Wednesday, Sept. 26.

The agency revealed that based on data of 14 regulated crypto exchanges and three deemed providers obtained from the Jvcea, 81.6 percent of all crypto transactions going through these exchanges are “margin or future trading.” Meanwhile, 18.4 percent are spot trading. Deemed providers are exchanges that have been allowed to operate in Japan while their applications are still being reviewed by the agency. Japan now has a total of three deemed providers: Coincheck, Lastroots, and Everybody’s Bitcoin.

Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member Registrations

In its report, the FSA reveals that it will “Tighten registration screenings and monitoring, taking account of issues found in inspections,” “Review certification applications prepared by self-regulatory organizations and encourage them to achieve the early establishment of the self-regulating function,” and “Lead the discussion for global cooperation to form regulations as the chair of the G20 in 2019.”

What do you think of the developments in Japan? Let us know in the comments section below.


Images courtesy of Shutterstock, Japan’s FSA, Zaif, and Bitflyer.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member Registrations appeared first on Bitcoin News.

Bitcoin News

BCH Roundup: Merchant Adoption, Wallet Services, and Hackathons

October 2, 2018 |

BCH Roundup: Merchant Adoption, Wallet Services, and Hackathons

Another busy week has passed for Bitcoin Cash (BCH) proponents as there continues to be an influx of bitcoin cash adoption, new platforms, and improved infrastructure.

Also read: Popular Discussion Board 4chan Now Accepts Cryptocurrencies for Passes

Bitcoin Cash (BCH) Market Action

Every week there’s an awful lot of developments happening within the BCH ecosystem and this week is no different. Bitcoin cash markets have been strong again over the past week, as the decentralized cryptocurrency is up 1.29 percent today and up over 22 percent over the last seven days. At the time of publication one BCH is trading for $ 533 per coin and the overall BCH market valuation is $ 9.28 billion today. The top five exchanges swapping the most bitcoin cash include Lbank, Hitbtc, Okex, Binance, and Huobi. As far as trading pairs are concerned the top five currencies traded for BCH includes tether (USDT 35.4%), BTC (31.5%), ETH (20%), USD (7%), and KRW (2.3%).

BCH Roundup: Merchant Adoption, Wallet Services, and Hackathons

More Bitcoin Cash Adoption

Besides market action, there’s been a lot of adoption happening as well throughout the BCH ecosystem. One adoption announcement this week that BCH fans enjoyed was from the event ticketing platform Big Tickets who revealed they have integrated with Bitpay for event payments. Now users can purchase tickets to events using the lightning fast and low fee BCH network, explains the company’s recent press release.   

“We know our product, values, and dedication to innovation are deserving of an equally secure and seamless purchase method for our event attendees — The use of bitcoin cash is a major social trend we’ve been monitoring and we’re excited to be the first event ticketing platform in the United States to accept the burgeoning cryptocurrency,” said Jason Henley, CTO of Bigtickets.com.

BCH Roundup: Merchant Adoption, Wallet Services, and Hackathons

Another well-known firm that now accepts BCH is the popular software bounty hunters Hackerone. The Hackerone team has also partnered with Bitpay’s payment services and individuals and companies can use bitcoin cash to find bugs in their systems. Hackerone has worked for many fortune 500 firms like General Motors, Google, Twitter, GitHub, Nintendo, Lufthansa, Panasonic Avionics, Qualcomm, Starbucks, Dropbox, and Intel.

Bitcoin Cash Wallet Infrastructure

BCH Roundup: Merchant Adoption, Wallet Services, and HackathonsThis week the wallet firm, Cointext, led by the company’s founder Vin Armani has announced that the SMS-capable wallet application can now send bitcoin cash to mobile numbers in six more European countries. “Bitcoin was always meant to be used as borderless cash,” explained Cointext CTO Vin Armani. “Our aim with Cointext is to expand its usefulness in real life.”

The large mining giant Bitmain Technologies has revealed yesterday that it has acquired the bitcoin cash desktop wallet Telescope. The Telescope wallet is a browser-embedded cryptocurrency wallet application for Bitcoin Cash (BCH). The platform also supports Bitpay invoices and the Money Button alongside traditional wallet services.

“We are extremely proud of Telescope wallet and the simple but key innovation that the project brings to the Bitcoin Cash ecosystem — Browser-embedded cryptocurrency wallets are a promising technology,” said Nishant Sharma, Head of International PR and Communications at Bitmain. Sharma continues:  

The Telescope development team is doing some very interesting work and we look forward to working together with them on the Telescope project and future Bitcoin Cash projects.

Another wallet announcement stems from the South Africa-based firm Centbee as the company has officially launched its iOS version. News.Bitcoin.com reported on the alpha version of the Centbee Android application this past July. During the iOS release Centbee’s co-CEO, Lorien Gamaroff, explains “Our key focus in designing the app was to make sending Bitcoin cash to friends as simple as possible.” Gamaroff adds:        

In just a few taps, users can send Bitcoin cash to anyone, anywhere at the lowest possible cost Bitcoin cash will be adopted globally as the best way to pay, especially in Africa and other developing markets.

Worldwide BCH Devcons and the Possible Bitcoin Cash November Upgrade

Bitcoin cashers are also looking forward to the upcoming BCH hackathons taking place in San Francisco, Amsterdam and other regions around the world. The San Francisco event is dubbed the BCH Devcon and will take place on October 10-11 and the first place winner will receive a 10 BCH investment from Permissionless Ventures.

BCH Roundup: Merchant Adoption, Wallet Services, and Hackathons

Another BCH Devcon will take place in Amsterdam on October 27-28 and the event will also be hosted in Israel, Japan, South Korea, and India as well. For more information about all the BCH Devcons if you would like to participate or attend check out the official page here.

Overall at the pace development has been going, October will likely be a busy month for bitcoin cash enthusiasts, network participants, and developers leading up to the planned BCH hard fork slated for November 15.

What do you think about this week’s bitcoin cash markets and headlines? Let us know your thoughts on this subject in the comment section below.

Disclaimer: Bitcoin.com is an official sponsor of the BCH Devcon events.


Images via Shutterstock, BCH Devcon, Pixabay, and Bitcoin.com 


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post BCH Roundup: Merchant Adoption, Wallet Services, and Hackathons appeared first on Bitcoin News.

Bitcoin News

Deep Web Roundup: Intelligence Official Charged With Selling Secrets, Disney Visits the Darknet

October 2, 2018 |

Deep Web Roundup: Intelligence Official Charged With Selling Secrets, Disney Visits the Darknet

A French intelligence official has been charged with selling state secrets on the dark web for BTC. Also in this roundup, we look at a new threat analysis tool trawling deep web sites for certain keywords and detail a surprise namecheck in Disney’s latest movie.

Also read: Banks, Money Mules and Front Companies Aid Terrorists in Conflict Zones Launder Money

French Officer Charged With Selling State Secrets

Deep Web Roundup: Intelligence Official Charged With Selling Secrets, Disney Visits the DarknetThere’s more to the deep web than criminality; like every part of the internet, the darknet can be used for good, bad, and the vast expanse of gray that lies between the two. But even when there is lawless behavior being perpetrated on the darknet, it isn’t always by the sort of criminals you might expect to be complicit.

When there’s illicitly obtained data to be sold, the deep web is the first place most thieves set up shop. Usually those criminals are fleeing the law, not acting as law enforcement officers themselves. French publication Le Parisien has detailed an officer with the Direction Générale de la Sécurité Intérieure (DGSI) who’s been remanded after being indicted for selling state secrets. The charges allege that the unnamed officer was selling documents on the deep web in exchange for bitcoin.

France’s DGSI intelligence agency handles counter-espionage, counter-terrorism, cybercrime and surveillance of criminal groups, organizations, and social phenomena. Its officers are therefore privy to sensitive information that would naturally be of interest to suspects, not least those who are under investigation. After the French intelligence services discovered the leak, they succeeded in tracing the documents back to the officer who uploaded them and promptly arrested the individual before proceeding to dismantle the criminal network the officer had been investigating, presumably believing the case to be compromised.

It has been reported that the DGSI agent faces up to seven years in prison if convicted. Cases involving law enforcement agents going rogue in the context of the deep web are not unheard of. Most famously, during the Silk Road investigation DEA agents Shaun Bridges and Carl Force turned to theft and extortion. Controversially, however, their tainted evidence was permitted as part of the case that ultimately helped to convict Ross Ulbricht.

Using Keywords to Perform Deep Web Threat Analysis

A recent study proposes a threat intelligence tool to identify suspicious activities on darknet sites. The deep web, due to its design, is notoriously difficult to trawl for information in the same manner as the clearnet. The researchers’ tool, developed in Python, was used to trawl over 4,300 deep web sites known to be associated with criminal activity. It then grouped keywords according to high priority (typically weapons-related terms such as “FN SCAR 17S” or drugs such as heroine), medium, and low priority. The tool’s most obvious application is of course for law enforcement seeking to identify deep web domains responsible for the majority of the chatter surrounding proscribed topics.

Deep Web Roundup: Intelligence Official Charged With Selling Secrets, Disney Visits the Darknet
Disney’s interpretation of the deep web in Wreck It Ralph 2

Disney Visits the Darknet

The trailer for Wreck It Ralph 2 is out and its titular character is headed to some very dark places. Set on the internet, complete with a series of in-jokes about Rick Rolling, cats, and flossing, the movie takes a trip to somewhere Disney audiences probably never imagined they’d be led: the deep web. That’s right, the creators of such cutesy cartoon capers as Frozen are plunging their audience into a realm synonymous with hard drugs, assassination marketplaces, honeypots and hacks. “This is what’s called the darknet,” announces a voice (around 2:00 in the trailer below) before Ralph comes face-to-face with a two-headed monster. File this one under Things We Never Thought We’d See Happen. The next generation to visit the deep web are going to be in for a rude awakening.

What are your thoughts on Disney visiting the deep web in its latest movie? Let us know in the comments section below.


Images courtesy of Shutterstock, and Disney.


Need to calculate your bitcoin holdings? Check our tools section.

The post Deep Web Roundup: Intelligence Official Charged With Selling Secrets, Disney Visits the Darknet appeared first on Bitcoin News.

Bitcoin News