Monthly Archives: June 2019

Over 100 Staff Now Reportedly Working On Facebook’s Crypto Project

CNBC has collected public details on high-level executives for Facebook’s cryptocurrency project via LinkedIn. More details are now emerging regarding high-level executives for social media giant Facebook’s crypto project, according to a report by CNBC on June 6. According to the report, there are now 100 people known to be working on the crypto project via profiles on professional networking platform LinkedIn. Facebook is also reportedly not done hiring, with over 40 openings still available in the team’s business unit, as per its website listing. The aim […]

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Margin Lenders on Poloniex Lost $13.5 Million Due to Flash Crash

Margin lenders on American cryptocurrency exchange Poloniex have lost around $13.5 million due to a flash crash. Margin lenders on American cryptocurrency exchange Poloniex have lost around $13.5 million due to a flash crash. Poloniex announced about the incident in a blog post published on June 6. Poloniex revealed that on May 26 a severe price crash in the clams (CLAM) market led to margin loans losses amounting to roughly 1,800 bitcoin (BTC), or approximately $13.5 million at the time. The incident affected 0.4% of all users […]

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SL Benfica Offers Cryptocurrency Payment Option for Online Store

Portuguese sports club SL Benfica now has an option on its website to buy products in cryptocurrencies UTK, BTC, or ETH. Major Portuguese sports club SL Benfica now accepts cryptocurrency for merchandise and tickets, Verdict reports on June 6. According to the report, SL Benfica partnered with cryptocurrency service Utrust to provide the new payments option. Fans and customers can now buy tickets any products on the club’s website with Utrust’s native token (UTK), or with top cryptocurrencies bitcoin (BTC) and ether (ETH). Utrust purportedly supports instant […]

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Global Pharma Giant Develops DLT-Based Care Network for Diabetes Patients

Major global pharmaceutical firm Boehringer plans to create a blockchain-powered care network for patients with diabetes. А leading pharmaceutical firm Boehringer Ingelheim has teamed up with blockchain-based healthcare platform Solve.Care, according to a press release shared with Cointelegraph on June 6. Germany-based Boehringer, one of the world’s 20 largest pharma companies, and Solve.Care are planning to build a blockchain and digital asset-powered network for trusted sharing of data about patients with diabetes. Based on Solve.Care’s blockchain platform, the new healthcare system is known as the Diabetes Care […]

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Medici Ventures Leads Funding Round for Blockchain-Based E-Voting Platform

Medici Ventures leads $7 million funding round for a blockchain-based platform that supports remote voting. Medici Ventures, the blockchain-based subsidiary of Overstock.com, has led a $7 million funding round for a blockchain-based voting platform, according to a press release on June 6. The blockchain-based voting platform, Voatz, is reportedly designed to allow citizens to participate in official elections and similar events via mobile devices, such as smartphones or tablet computers. The platform is reportedly based on blockchain tech, encryption, and biometrics, and purports to provide better convenience, […]

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Report: Nearly $10 Million in XRP Stolen in GateHub Hack

Hackers have reportedly compromised nearly 100 XRP Ledger wallets on cryptocurrency wallet service GateHub. Hackers have reportedly compromised nearly 100 XRP Ledger wallets on cryptocurrency wallet service GateHub. The incident was announced by GateHub in a preliminary statement on June 6. In the statement, GateHub reveals that it was notified by some of its customers and community members that funds on their wallets had been stolen. The company estimates that hackers managed to compromise around 100 XRP Ledger wallets. Although the company did not initially identify any […]

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US Congressman Seeks Tax Clarity for Cryptocurrencies

A U.S. congressman argued that cryptocurrency transactions should be treated like fiat currency transactions for tax purposes. United States Congressman (R-N.C.) Ted Budd testified to the House of Representatives Ways and Means Committee on purported issues with current tax laws on cryptocurrencies, as per a video of the testimony released on June 4. Congressman Budd argued that cryptocurrencies should have a de minimis tax exemption like foreign currencies. Budd commented that he cosponsored bill H.R.3708, or the “Cryptocurrency Tax Fairness Act,” which would extend the Internal Revenue […]

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Research: Reddit Crypto-Related Discussion Volume Strongly Correlated to Price

Notre Dame University and the Pacific Northwest National Laboratory released a study on the speed and scale of cryptocurrency discussions on Reddit. The University of Notre Dame and the Pacific Northwest National Laboratory (PNNL) released a study on the speed and scale of cryptocurrency discussions on Reddit on May 13. The paper claims to be “the first to qualitatively measure and contrast discussion growth about three popular cryptocurrencies with key distinctions in motivation, usage, and implementation – Bitcoin (BTC), Ethereum (ETH), and Monero (XMR) on Reddit.” The […]

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MIT Professor Claims Blockchain Technology Is Not as Secure as Claimed

Prof. Stuart Madnick has stated that blockchain technology is not as secure as many purport it to be. A professor at the Massachusetts Institute of Technology (MIT) says that blockchains are not as secure as they are purported to be in an editorial in the Wall Street Journal (WSJ) on June 6. Stuart Madnick — the John Norris Maguire Professor of Information Technologies at the MIT Sloan School of Management and the Founding Director of the Cybersecurity at MIT Sloan research consortium — highlighted a forthcoming study […]

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Major Coins See Red Following Reports That FOMO Fueled May’s Rally

Bitcoin and Ether are in the red, Ripple is in the green. Top 50 cryptocurrencies are mostly in the red in a more uncertain crypto market. Thursday, June 6 — Bitcoin (BTC) and ether (ETH) are trending down slightly following the slump from the recent rally. Top cryptocurrencies are seeing a mix of ups and downs, according to data from Coin360. Market visualization courtesy of Coin360 After its surge to $9,000 last week, BTC is down by 1.67% on the day, and is trading at just $7,676 […]

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