Bitcoin News www.bitcoins.am

Crypto Exchange Binance is More Profitable than Germany’s Biggest Bank Deutsche

Joseph Young — Thu, 26 Apr 2018 09:19:25 -0400

This year, in the first quarter of 2018, Deutsche Bank, Germany’s biggest bank and one of Europe’s leading financial institutions, recorded a profit of $146 million. Binance, the world’s biggest cryptocurrency exchange, recorded a profit of $200 million. Binance Vs. Deutsche Bank Binance surpassed Germany’s largest and one of Europe’s biggest banks in profitability. Binance, … Continued

The post Crypto Exchange Binance is More Profitable than Germany’s Biggest Bank Deutsche appeared first on CCN

BBVA Issues $91 Million Loan Using Two Blockchains

Wolfie Zhao — Thu, 26 Apr 2018 08:15:36 -0400

Spanish banking giant BBVA has completed a pilot that issued a $91 million corporate loan using two different blockchain technologies.

Chilean Court Orders Banks to Re-Open Cryptocurrency Exchange Accounts

Francisco Memoria — Thu, 26 Apr 2018 08:09:59 -0400

Chile’s anti-monopoly court recently ordered two major Chilean banks to re-open the accounts of one of the country’s largest cryptocurrency exchanges, Buda. The country’s anti-monopoly court ruled that the state bank Banco del Estado de Chile and Itau Corpbanca should re-open the cryptocurrency exchange’s accounts, presumably to prevent what looked like a blanket ban on … Continued

The post Chilean Court Orders Banks to Re-Open Cryptocurrency Exchange Accounts appeared first on CCN

Japanese Finance Giant SBI Invests In Regulated ICO Platform Templum

Cointelegraph By Molly Jane Zuckerman — Thu, 26 Apr 2018 07:57:33 -0400

Japan’s SBI Holdings has invested in regulated ICO platform Templum, after earlier this year buying into a Taiwanese hardware wallet #NEWS

Samsung Sets Q1 Profit Record with Crypto Mining Boost

Wolfie Zhao — Thu, 26 Apr 2018 07:31:02 -0400

Samsung has seen record growth in quarterly operating profits – an increase driven in part by strong demand for cryptocurrency mining chips.

Philippines Legalizes Cryptocurrency Exchanges in Economic Zone

Samburaj Das — Thu, 26 Apr 2018 07:20:23 -0400

The Philippine government is welcoming nearly a dozen cryptocurrency companies to operate in a special tax-friendly economic zone situated in close proximity to a number of neighboring countries. According to a Reuters report, the Philippines will legalize the entry of 10 blockchain and cryptocurrency companies to operate in the Cagayan Economic Zone Authority (CEZA), a … Continued

The post Philippines Legalizes Cryptocurrency Exchanges in Economic Zone appeared first on CCN

Gaming Co. Nexon Korea Refutes Rumors It Will Buy Crypto Exchange Bitstamp

Cointelegraph By Molly Jane Zuckerman — Thu, 26 Apr 2018 07:20:06 -0400

Rumors denied: Nexon Korea is not in the process of buying crypto exchange Bitstamp, according to a press conference by Nexon Korea’s CEO #NEWS

Bitcoin Risks Deeper Pullback After Drop Below $9K

Omkar Godbole — Thu, 26 Apr 2018 06:30:38 -0400

After hitting a one-week low today, bitcoin risks a deeper pullback if support at $8,459 is breached, the technical charts indicate.

Binance CEO Zhao “Denies All” Sequoia Allegations in Hong Kong Lawsuit

Samburaj Das — Thu, 26 Apr 2018 06:06:33 -0400

Binance chief Zhao Changpeng, founder of the world’s largest cryptocurrency exchange, has formally denied allegations made by venture capital firm Sequoia Capital about a failed funding deal. As reported yesterday, a subsidiary of Sequoia Capital China sued Zhao in a Hong Kong lawsuit claiming the crypto exchange founder had violated terms of an exclusivity agreement

The post Binance CEO Zhao “Denies All” Sequoia Allegations in Hong Kong Lawsuit appeared first on CCN

IBM Partners with Jewelry Industry on Hyperledger Supply Chain Project

Annaliese Milano — Thu, 26 Apr 2018 06:00:11 -0400

IBM has teamed up with major jewelry businesses to bring transparency to the industry's supply chain with blockchain technology.

Parity Says 'No Intention' To Split Ethereum Over Fund Recovery

Rachel Rose O'Leary — Thu, 26 Apr 2018 05:00:19 -0400

Parity Technologies has said it has no plans to move forward with a code change that would result in an ethereum blockchain split.

Coincheck Owner Monex Plans Proprietary Blockchain, ICO

Wolfie Zhao — Thu, 26 Apr 2018 05:00:16 -0400

The new owner of Japan's Coincheck exchange, Monex Group, says creating its own blockchain with an ICO to follow is on its radar.

Kyber Network and OmiseGo Surge 70% With Bithumb Integration as Bitcoin Dips Below $9,000

Joseph Young — Thu, 26 Apr 2018 04:32:14 -0400

Kyber Network (KNC) and OmiseGo (OMG) have surged by more than 73 percent and 32.5 percent respectively upon the announcement of South Korea’s biggest cryptocurrency exchange Bithumb’s integration. Bithumb Jackpot Earlier this year, Storm, an Ethereum-based ERC20 token project that incentivizes users for completing microtasks such as viewing advertisements on mobile phones or carrying out … Continued

The post Kyber Network and OmiseGo Surge 70% With Bithumb Integration as Bitcoin Dips Below $9,000 appeared first on CCN

Barclays, Goldman Champion ISDA Standard for Blockchain Derivatives

Ian Allison — Thu, 26 Apr 2018 04:00:46 -0400

U.K.-based bank Barclays is pushing hard for a data standard for derivatives, as a foundation for that market to adopt distributed ledger technology.

China Pins Hopes On Blockchain Technology For Government Audits

Lester Coleman — Thu, 26 Apr 2018 03:35:27 -0400

The National Audit of the People’s Republic of China, the country’s supreme audit institution, is pinning high hopes on blockchain technology as a way to improve government auditing functions, according to a statement posted April 24. An article titled “Some Ideas on Applying ‘Blockchain’ Technology in Big Data” notes that the blockchain portion of the … Continued

The post China Pins Hopes On Blockchain Technology For Government Audits appeared first on CCN

Blockchain Project To Make Affiliate And Referral Marketing Accessible To All Businesses

Cointelegraph By Connor Blenkinsop — Thu, 26 Apr 2018 03:09:18 -0400

A new NEO Blockchain-based platform aims to help companies grow their customer base and boost recurring sales through smart marketing programs #SPONSORED

Binance Exchange Denies Sequoia's Allegation of Exclusivity Breach

Wolfie Zhao — Thu, 26 Apr 2018 03:00:46 -0400

Crypto exchange Binance has denied an allegation that its founder breached an exclusivity agreement with VC firm Sequoia Capital.

Binance Exchange Denies Sequoia Allegation of Exclusivity Breach

Wolfie Zhao — Thu, 26 Apr 2018 03:00:46 -0400

Crypto exchange Binance has denied an allegation that its founder breached an exclusivity agreement with VC firm Sequoia Capital.

SBI Backs Token Exchange Templum's $10 Million Funding Round

Wolfie Zhao — Thu, 26 Apr 2018 01:15:44 -0400

Japanese investment giant SBI Holdings has added an initial coin offering (ICO) platform startup to its cryptocurrency portfolio company.

The 17 Millionth Bitcoin Is About to Be Mined: What It Means and Why It Matters

David Floyd — Wed, 25 Apr 2018 23:31:08 -0400

17 million done, four million to go.

Chilean Anti-Monopoly Court Orders Banks To Re-Open Crypto Exchange’s Accounts

Cointelegraph By Aaron Wood — Wed, 25 Apr 2018 23:23:57 -0400

The anti-monopoly court of Chile has ordered two banks to re-open the accounts of Buda cryptocurrency exchange. #NEWS

Crypto Exchange Gemini to Monitor Trading Using Nasdaq Tech

Nikhilesh De — Wed, 25 Apr 2018 22:30:21 -0400

Gemini plans to monitor its exchange for potential illicit activities using Nasdaq's SMARTS Market Surveillance technology.

Spanish BBVA Becomes First Global Bank To Issue Loan Using Blockchain

Cointelegraph By Aaron Wood — Wed, 25 Apr 2018 22:05:25 -0400

Spanish bank BBVA became the first global bank to issue a loan using Blockchain technology. #NEWS

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, April 25

Cointelegraph By Rakesh Upadhyay — Wed, 25 Apr 2018 21:32:37 -0400

A lot of great news for the crypto industry! How will the market react?

Fitch Ratings: Blockchain Is a Potential 'Game-Changer' for Insurers

Nikhilesh De — Wed, 25 Apr 2018 21:00:58 -0400

Fitch Ratings published a report Wednesday noting that blockchain can be a long-term solution to issues facing the insurance industry today.

Philippine Gov’t To Allow Country’s First Crypto Businesses In Special Economic Zone

Cointelegraph By Helen Partz — Wed, 25 Apr 2018 19:21:44 -0400

Philippines’ Cagayan Economic Zone will be open to 10 crypto-related firms to generate employment in exchange for tax breaks. #NEWS

Grayscale Adds Zcash Offshoot ZenCash to Crypto Investment List

David Floyd — Wed, 25 Apr 2018 18:10:54 -0400

The fork of a fork of zcash made it onto Grayscale's "conviction list."

Digital Currency Group Adds Zcash Offshoot ZenCash to Crypto Investment List

David Floyd — Wed, 25 Apr 2018 18:10:54 -0400

The fork of a fork of zcash made it onto Digital Currency Group's "conviction list."

German VPE Bank Expands Services To Cryptocurrency Trading

Cointelegraph By Ana Alexandre — Wed, 25 Apr 2018 18:08:12 -0400

VPE will purportedly be the first bank in Germany to offer cryptocurrency trading services, albeit only to institutional and professional clients. #NEWS

German Securities Trading Bank Reportedly Becomes First In Country To Trade Crypto

Cointelegraph By Ana Alexandre — Wed, 25 Apr 2018 18:08:12 -0400

VPE will purportedly be the first bank in Germany to offer cryptocurrency trading services, albeit only to institutional and professional clients. #NEWS

Show ‘Basic Respect’: Kraken CEO Double Downs on ‘Insulting’ New York Crypto Exchange Inquiry

Conor Maloney — Wed, 25 Apr 2018 17:59:58 -0400

Kraken CEO and co-founder Jesse made headlines recently for his strongly-worded response to the New York Attorney General’s request for information on the Kraken exchange, the largest bitcoin exchange based on euro volume in the world. The NYAG sent out a statement insisting that exchanges be more transparent, and issued 13 exchanges a 34 point … Continued

The post Show ‘Basic Respect’: Kraken CEO Double Downs on ‘Insulting’ New York Crypto Exchange Inquiry appeared first on CCN

Deep Space, Adult Content, and Rallies: Last week in Crypto

Jake Sylvestre — Wed, 25 Apr 2018 17:40:58 -0400

Make sure you check out the previous round-up here, now let’s go over what happened in crypto this last week. We regret the delay with the weekend round-up but, as they say, better late than never. Price Watch: Bitcoin was up 15% for the second week in a row. The gains come after a slight gain 2 weeks ago. After going … Continued

The post Deep Space, Adult Content, and Rallies: Last week in Crypto appeared first on CCN

Blockstack and ShapeShift Offer $50,000 Universal Wallet DApp Bounty

Colin Harper — Wed, 25 Apr 2018 17:18:32 -0400

In the latest installment of its Signature Bounties campaign, Blockstack has partnered with ShapeShift to challenge developers to create a universal wallet. The contest, which began this morning, April 25, 2018, at 9:00 a.m. EST, will run until 11:59 p.m. on June 25, 2018. The winning project will be announced on June 29, 2018, and awarded $50,000.

“We’re really thrilled to be able to partner with ShapeShift for this bounty and to build on the success of the bounty program so far. This is something that speaks directly to the crypto community, who inherently understand the motivations behind decentralized applications,” Xan Ditkoff, a Growth Partner at Blockstack, told Bitcoin Magazine.

As with past Signature Bounty competitions, the focus here is to build a decentralized application (DApp), in this case, a decentralized universal wallet. This campaign, however, has a special focus on interoperability and cooperation, as Blockstack’s partnership with ShapeShift suggests.

“Increased interoperability and collaboration between projects will only hasten the pace of innovation — and making each project’s atomic unit of value accessible across communities is critical,” a Blockstack blog post reads. “That’s why we are partnering with ShapeShift to enable an open source wallet where users can hold and exchange most, if not all current and future forms of tokens, all in a decentralized manner.”

A successful project, the post continues to reveal, will feature a synergy of Blockstack’s storage, authentication and encryption functions with ShapeShift’s token exchange API. Additionally, serious submissions must be open sourced and accommodate all or most coins and tokens, including custom tokens that haven’t been created yet.

The end game for this bounty, as its name suggests, is to create a universal, easy-to-use wallet that combines the security features of Blockstack alongside the seamless token-swapping mechanisms of ShapeShift.

Creating a universal, low-barrier-to-entry wallet is essential, Ditkoff explained, and it should be comparable to current online financial management systems.

“Having to go back and forth from wallet to wallet to access or exchange different tokens is onerous. For people with little knowledge of cryptocurrency to adopt this tech, it needs to be simple, beautiful, and frictionless.”

The Community Component

Since September 2017, Blockstack has made a commitment with its Signature Bounties to curate decentralized applications that work toward providing an accessible experience for users of all levels of technical literacy. Launched as part of its $25 million Blockstack Signature Fund, these bounties have culminated in such popular DApps as Graphite and Stealthy.

To Ditkoff and the rest of the Blockstack team, these bounties “have proven to be a powerful tool to not just motivate development within the community, but to bring other members into the community as well.” Whenever Blockstack issues a new bounty, they do so out of necessity, “a need from a user perspective.” As such, developers are motivated to produce quality work, as, in Ditkoff’s words, “they are building to fulfill a real need.”

Contrary to projects created through corporate-incubated initiatives, these community-driven efforts harness the talent and potential of an expensive pool of developers and enthusiasts. For Blockstack, there’s power in numbers, and open-sourced innovation can be driven by the sparks of brilliance engendered in bounty competitions and other community programs.

“Community-driven campaigns like bounties have the advantage of being able to fully capture the power of an open-source network,” said Ditkoff.

“Beyond bounties, we are witnessing the power of the community with the incredible response to our recently announced Community Rewards Program. The benefit here is that the community comes together and learns from each other, incentivized by the unit of value that will be used within the ecosystem they’re helping build. Oftentimes, the freedom to innovate outside of the corporate structure can lead to some interesting outcomes, and we want to nurture possibility.”

To register for the Build a Universal Wallet Signature Bounty, follow this link.

This article originally appeared on Bitcoin Magazine.

Known Bug in Brazilian Bitcoin Exchange Foxbit Sees Users Lose 58 BTC

Francisco Memoria — Wed, 25 Apr 2018 16:33:09 -0400

Brazilian cryptocurrency exchange Foxbit has recently revealed that, via the BlinkTrade trading platform, it updated its login process, making it safer for users. The update may be too late, however, as recent reports suggest the company’s poor security allowed hackers to phish users out of an estimated 58 BTC (about $540,000). The 58 BTC estimate … Continued

The post Known Bug in Brazilian Bitcoin Exchange Foxbit Sees Users Lose 58 BTC appeared first on CCN

Cisco Claims New Patent Could Apply to Bitcoin Mining

Nikhilesh De — Wed, 25 Apr 2018 15:46:11 -0400

A Cisco patent suggests that internet customers would be able to create a distributed mining pool through a proprietary cloud application.

“Bitcoin Is A Scam,” Claims Ousted CEO Of Paypal

Cointelegraph By Marie Huillet — Wed, 25 Apr 2018 15:45:27 -0400

“Bitcoin Is A Scam,” says ousted CEO of Paypal Bill Harris, “most” people don’t pay taxes, and “most” heavy BTC users are criminals. #NEWS

Andreessen Horowitz Plots a Dedicated Cryptocurrency Investment Fund: Report

Lester Coleman — Wed, 25 Apr 2018 15:22:50 -0400

Andreessen Horowitz, founded in 2009 by Marc Andreessen and Ben Horowitz, one of the leading venture capital firms active in the cryptocurrency space, plans to launch a separate fund for exchanging crypto assets. The new fund could signal what some see as the next wave of innovation: direct investor involvement in cryptocurrencies, according to Recode. In … Continued

The post Andreessen Horowitz Plots a Dedicated Cryptocurrency Investment Fund: Report appeared first on CCN

FT: Multiple Online Harassment Allegations Against IOTA Team, Foundation Board Member Says He’s Not ‘Aware’ Of Incidents

Cointelegraph By Molly Jane Zuckerman — Wed, 25 Apr 2018 14:42:07 -0400

Claims of online threats by members of the IOTA team against critics are numerous, while IOTA Foundation board member says he has never personally witnesses any intimidation. #NEWS

Popular Ether Wallet MEW Is Hijacked in DNS Attack

Amy Castor — Wed, 25 Apr 2018 14:31:46 -0400

MyEtherWallet, a popular web-based wallet for storing and transmitting the cryptocurrency ether (ETH), suffered a DNS attack that rerouted unsuspecting users to a Russian scam site into which some victims fed their login credentials.

An invalid SSL connection certificate warned users before entering the phony site but some bypassed the warning, resulting in a loss of funds. MyEtherWallet confirmed the attack in a statement on April 24, 2018.

Hackers did not actually hack the MyEtherWallet platform itself but went after vulnerabilities in public-facing DNS servers instead. MyEtherWallet recommends users switch to Cloudflare DNS servers for the time being.

DNS servers provide the correct IP address for an internet site’s name. If you type in “www.myetherwallet.com,” a DNS server will translate that into the IP address for that site. An SSL certificate protects against spoofed DNS answers by comparing the hostname you enter with the hostnames listed in the certificate. If no match is found, an SSL warning pops up.

Normally when users attempt to visit myetherwallet.com, they are directed to Amazon Web Services, which hosts the site. But this time, according to cybersecurity firm CloudFlare, they were directed instead to a set of Russian IP addresses.

According to Oracle's Internet Intelligence division, the hacker was able to hijack DNS entries after executing a BGP (short for Border Gateway Protocol) route hijack that redirected internet traffic meant for Amazon servers. BGP, a routing protocol used by the internet, is known for its vulnerabilities. Most of the affected users were employing Google’s recursive DNS service.

“Little did we know this was part of an elaborate scheme to use the inherent security weaknesses of DNS and BGP to pilfer cryptocurrency, but that remarkable scenario appears to have taken place,” Oracle’s Doug Madory wrote in a blog post.

DNS hijacks are not uncommon. Earlier this year, hackers hijacked the DNS server for BlackWallet.co, a web-based wallet for the Stellar Lumens cryptocurrency, redirecting $400,000 worth of lumens (XLM) to their own server. In late 2017, EtherDelta was also the victim of a DNS hijack, resulting in the loss of at least $267,000 in funds.

This article originally appeared on Bitcoin Magazine.

Nasdaq CEO Says Company ‘Open’ To Becoming Crypto Trading Platform When Market Matures

Cointelegraph By Molly Jane Zuckerman — Wed, 25 Apr 2018 13:57:14 -0400

Nasdaq CEO says that “certainly” the stock exchange could become a crypto exchange in the future. #NEWS

US Congressman: 'Race to Regulate' Won't Solve Crypto Fraud

Annaliese Milano — Wed, 25 Apr 2018 13:45:58 -0400

While fraud and 'bad actors' are a concern in the crypto industry, US Rep. Patrick McHenry says Congress should not rush to regulate.

Wisconsin Mulls Allowing Bitcoin Donations for Political Campaigns

Samantha Chang — Wed, 25 Apr 2018 13:36:57 -0400

Ethics officials in the U.S. state of Wisconsin are divided on whether to allow political campaigns to accept campaign donations in bitcoin and other cryptocurrencies. If Wisconsin approves the move, it will join Montana, Washington, D.C., and the U.S. federal government in allowing cryptocurrency campaign contributions. At a hearing on April 24, the Wisconsin Ethics … Continued

The post Wisconsin Mulls Allowing Bitcoin Donations for Political Campaigns appeared first on CCN

‘New Money’ is on Bitcoin, Not Bitcoin Cash: Fundstrat’s Tom Lee

Gerelyn Terzo — Wed, 25 Apr 2018 13:10:02 -0400

Thomas Lee, co-founder of Fundstrat Global, doesn’t like to take sides in the bitcoin/Bitcoin Cash rivalry. But holding his feet to the fire, Lee would bet on the No. 1 cryptocurrency over its spin-off, Bitcoin Cash. Bitcoin and Bitcoin Cash advocates have locked horns over which is the better digital currency, and Lee’s decision isn’t

The post ‘New Money’ is on Bitcoin, Not Bitcoin Cash: Fundstrat’s Tom Lee appeared first on CCN

Nasdaq 'Would Consider' Creating a Crypto Exchange, Says CEO

Stan Higgins — Wed, 25 Apr 2018 12:45:33 -0400

The CEO of Nasdaq suggested Wednesday that the company could open a cryptocurrency exchange in the future.

Bitstamp to Be Sold to South Korean Gaming Firm for $350 Million: Report

Josiah Wilmoth — Wed, 25 Apr 2018 11:54:46 -0400

Cryptocurrency exchange Bitstamp will reportedly be acquired by a South Korean gaming company. Citing three sources familiar with the matter, Business Insider reports that Bitstamp — the world’s oldest surviving Bitcoin exchange — is close to finalizing a sale to Nexon, a South Korean gaming company that is now headquartered in Japan. Bitstamp, which was … Continued

The post Bitstamp to Be Sold to South Korean Gaming Firm for $350 Million: Report appeared first on CCN

Crypto Exchanges Pause Services Over Contract Bugs

Nikhilesh De — Wed, 25 Apr 2018 11:51:43 -0400

A pair recently-published bugs allow an attacker to create an inordinate number of ERC-20 tokens

After Two Weeks Of Gains Markets Are Down Across The Board, Bitcoin Below $9,000

Cointelegraph By Molly Jane Zuckerman — Wed, 25 Apr 2018 11:43:56 -0400

Total market cap dips below $400, as the markets experience a significant correction today. #NEWS

Multiple Exchanges Suspend ERC20 Token Trading Due To Potential BatchOverflow Bug

Cointelegraph By Molly Jane Zuckerman — Wed, 25 Apr 2018 11:35:51 -0400

A smart contract bug has now forced Poloniex, HitBTC and a number of other exchanges to stop ERC20 transactions. #NEWS

Nasdaq CEO: We’ll ‘Certainly Consider’ Becoming a Cryptocurrency Exchange

Samburaj Das — Wed, 25 Apr 2018 11:10:54 -0400

Nasdaq, the world’s second-largest stock exchange with a $9 trillion market cap, is open to becoming a cryptocurrency exchange in a regulated market. In a televised interview with CNBC’s Squawk Box, Nasdaq CEO Adena Friedman was asked of the position taken by Nasdaq’s board and herself on cryptocurrencies, specifically as a service provider. “A lot … Continued

The post Nasdaq CEO: We’ll ‘Certainly Consider’ Becoming a Cryptocurrency Exchange appeared first on CCN

EOS Is Nearing An All-Time Price High

Omkar Godbole — Wed, 25 Apr 2018 10:45:51 -0400

EOS is largely bucking the downtrend in the wider crypto market and may hit fresh all-time highs soon, according to technical analysis.