Popular crypto trader Altcoin Psycho says he’s preparing to place a big bet on Bitcoin once a fundamental metric flips his way. The pseudonymous analyst tells his 275,800 Twitter followers that Bitcoin’s hashrate – which is a measure of all of the computing power in the Bitcoin network – is the key factor to follow. …
Yearly archives: 2021
Aussie state government blockchain platform may prevent a tower block inferno
Big Four accounting firm KPMG has partnered with Australian property developers Mirvac to develop a blockchain-based platform to track the provenance of buildings. The platform was commissioned by the New South Wales state government. Taking inspiration from supply chain initiatives to track beef products using blockchain, the platform will allow property insurers, investors, and owners …
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Coinbase unveils ‘Solidify’ tool to auto-audit smart contracts and DeFi clones
Coinbase has unveiled a new tool that can automatically audit smart contracts built on Ethereum that use the Solidity programming language. Designed to be used by smart contract auditors, asset issuers, and other exchanges, the firm has plans to make the tool open source later this year In a June 23 post, Coinbase’s principal blockchain …
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Beware of ‘soft rugs’ — a growing menace in decentralized finance
The decentralized finance ecosystem has been plagued by a variety of known scams and exploits for some time, with yet another coming in the form of what is known as a “soft rug”. Those that have been dabbling in DeFi for some time will be familiar with the term “rug pull”. This generally refers to …
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Bipartisan bill to study blockchain and crypto passes US House of Representatives
A bipartisan bill that requires the study of blockchain technology and digital tokens passed the House of Representatives on June 22. The “Consumer Safety Technology Act” is centered on consumer protection and includes digital token and blockchain research. The bill passed the 117th Congress within a week of its introduction, with a resounding 325 votes …
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Tributes and conspiracy theories swirl in wake of John McAfee’s death
The reported suicide of notorious tax fugitive, Bitcoin proponent, and antivirus software pioneer, John McAfee, has prompted an outpouring of tributes and conspiracy theories today. After years of evading U.S. taxes and authorities, a Spanish court had ordered McAfee’s extradition just hours before he was found dead, with the 75-year-old expected to face a life …
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Developer ‘rug pulls’ Ethereum DeFi project SharedStake, SGT token falls 95%
Decentralized Ethereum 2.0 staking protocol SharedStake has a developer on the loose that used the admin key and exploited the protocol’s governance token SGT. As the price of SGT plummets 95%, other team members are urging users to withdraw all funds and wait for further updates. Rug pull While warning users to exit SharedStake’s liquidity …
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Bitcoin proponent Max Keiser announces the F*ck Elon Tour
Bitcoin maximalist Max Keiser has announced the F*ck Elon Tour scheduled to take place on July 8 -9 in Austin, Texas. Earlier this month, Keiser hit the headlines during the Bitcoin Conference in Miami for several reasons. But chief among them was his antics on stage with MicroStrategy CEO Michael Saylor, in which he repeated …
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Korean Government Confiscates $47 Million in Crypto From Tax Evaders
South Korean authorities have identified thousands of tax evaders as part of an intensifying crackdown on tax dodging among crypto investors. Following a prolonged investigation, the government has reportedly seized cryptocurrency worth millions of dollars. Tax Agents Target Wealthy Tax Evaders in Greater Seoul Area More than 53 billion Korean won ($47 million) in crypto …
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BIS: Cryptocurrencies Are Often Used in Financial Crimes, Money Laundering, Ransomware Attacks
The Bank of International Settlements (BIS) says that it is now clear that cryptocurrencies are not money but speculative assets, emphasizing that in many cases they are used “to facilitate money laundering, ransomware attacks, and other financial crimes.” BIS Criticizes Cryptocurrencies, Bitcoin The Bank of International Settlements published its annual economic report Wednesday, discussing cryptocurrencies, …
Chainbytes Bringing Bitcoin ATMs to El Salvador, Launching Manufacturing Hub
Bitcoin ATM provider Chainbytes is setting up a bitcoin ATM manufacturing hub in El Salvador. The move follows the country passing a bill making bitcoin legal tender. The company plans to make El Salvador “the manufacturing hub of bitcoin ATMs for all of the Americas.” Bitcoin ATMs Coming to El Salvador U.S.-headquartered Chainbytes LLC, a …
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JPMorgan Survey: 49% of Institutional Investors Agree Cryptocurrency Is ‘Rat Poison’ as Warren Buffett Says or a Fad
Investment bank JPMorgan conducted a survey of thousands of investors from 1,500 institutions and found that 49% of them think that cryptocurrency is either “rat poison squared,” the term used by Berkshire Hathaway CEO Warren Buffett to describe bitcoin, or “a temporary fad.” 49% of Investors Told JPMorgan Cryptocurrency Is a Fad or ‘Rat Poison …
Judge rejects class certification in $400M Mt Gox fraud lawsuit
A federal judge has rejected a bid for class certification from clients of the defunct Japanese Bitcoin exchange Mt. Gox, which was forced into bankruptcy in 2014 following a major hack. Judge Gary Feinerman made the declaration in the U.S. District Court for the Northern District of Illinois on Tuesday, June 22 saying it would …
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$3.6B in Bitcoin vanishes in ‘hack’ along with owners of South African crypto platform
Around 69,000 Bitcoin has vanished from a South African investment platform along with two brothers who owned the crypto firm. Although the facts are yet to be proven in court, if it turns to be an exit scam rather than a hack, it would be the biggest in history according to Bloomberg. There were warning …
Top Crypto Analyst Says One Altcoin Set to Erupt 1,000%, Updates Forecast for Bitcoin and XRP
Despite the rough crypto markets, a popular analyst and trader says this bull cycle is not over yet – and one altcoin in particular is gearing up for a huge rally. The pseudonymous trader known in the industry as Credible Crypto tells his 219,000 Twitter followers that while fear is widespread, he doesn’t believe that …