Monthly Archives: May 2020

3 Reports Look at North Korea’s Lazarus Group, Iran’s Farhad Exchange, and the Crypto Ponzi Futurenet

On May 4, 2020, the blockchain surveillance firm Chainalysis published a three-part series covering a crypto Ponzi scheme, North Korea, and Iran’s use of digital currencies like bitcoin. The company’s research papers discuss the Poland-based crypto Ponzi called Futurenet, a hosting service allegedly tied to North Korea, and how Iran-based exchanges are bypassing OFAC sanctions through the use of digital currencies. Chainalysis Digs Into North Korea’s Relationship With Crypto This week Chainalysis published some findings on cryptocurrency usage in Iran, North Korea, and a Ponzi scheme called […]

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Bitcoin Is a Digital Asset Says Intermediate People’s Court in China

A court dispute between an international couple and four Bitcoin robbers has come to an end. The Shanghai No. 1 Intermediate People’s Court publicly announced an appeal for a Bitcoin foreign property damage compensation dispute on May 6, according to Baidu news.  The second Court trial’s findings indicated that Bitcoin is a digital asset and should be protected by the law. All Bitcoin obtained through illegal means should be returned or compensated at a discount, says the local news.   All started with a robbery According to the […]

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New Bill Would Presume Digital Assets Not to Be Securities in California

New legislation in California may help establish definitions of digital assets as securities, though nationwide impact is uncertain. Per new updates to a bill to amend California’s securities law introduced in the state’s legislative body on May 5, the largest economy in the United States and the world’s tech hub may be providing new clarity to crypto owners. Formalizing the Howey Test for crypto? Updates to the definition of what constitutes a security include: “Investment contract, except any digital asset that meets one of the following criteria […]

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Most of Cash App’s $528M Revenue in Q1 Came From Bitcoin

Square reports that Bitcoin composed the bulk of Cash App’s revenue in the first quarter, though it added much less to profit. On May 6, Square released its filings for the first quarter of 2020. The filings publicized revenue for Square’s Cash App, a majority of which came from Bitcoin. The numbers for Q1 and Bitcoin’s role $306 million of Cash App’s $528 million revenue for the first quarter of the year came from Bitcoin.  Despite those numbers, Bitcoin composed a small fraction of Cash App’s profit, […]

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Novogratz Alludes Stimulus Causing Recent Bitcoin Uptrend

Mike Novogratz suspects Bitcoin’s recent upward price action is a result of the U.S. government’s corrective economic measures. Multi-millionaire and former hedge fund manager, Mike Novogratz, recently posited government spending around coronavirus efforts may be the cause of recent mainstream and crypto market rallies. “Household Income in the USA could actually be up this year even though we could have 25% unemployment,” Novogratz said in a May 6 tweet, adding:   “That is unprecedented.Thanks Uncle Sam and Chairman Powell. Helps with social unrest, might explain the retail bid […]

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Anonymous Crypto Payments Cause Problems for South Korean Child Porn Case

Experts warned that South Korean authorities may struggle to identify all people who used crypto payments. South Korean IT experts claim that investigators in the Telegram Nth room case could have trouble identifying users who used crypto payments to access illicit videos via the chat platform.  Overseas exchanges’ transactions could be an issue According to local media, Maeil Kyungjae, it is more difficult to trace payments made via international crypto exchanges versus local exchanges. A police officer involved in the investigation told Maeil Kyungjae: “It is complicated […]

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Abra Garners $5 Million from Stellar Development Foundation

Abra has received $5 million in funding from the Stellar Development Foundation. The Stellar Development Foundation, or SDF, has allocated $5 million to crypto investment app Abra. The company now looks to incorporate the Stellar blockchain into its platform, as well as develop Stellar-based products.     “We believe Stellar’s platform is one of the most scalable and versatile cryptocurrency platforms available today,” Abra CEO and founder Bill Barhydt told Cointelegraph in an email, adding: “That combined with a similar shared mission of democratizing access to financial services means […]

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Telegram’s TON OS to Go Open Source on GitHub Tomorrow

Telegram’s blockchain operating system, TON OS, which is planned for launch on Google Play market and Apple’s AppStore, will be open sourced tomorrow. Telegram recently delayed their open network, TON, and their cryptocurrency, GRAM, once again. There is one related project that has not experienced these setbacks, however. TON OS, an operating system for the TON blockchain, will soon get an open source release. The project’s core infrastructure developers, TON Labs, are planning to open source the main components of the TON OS on GitHub tomorrow. Mitja […]

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Nanominer 1.9.1 With AMD Support for the KAWPOW Algorithm

The latest Nanominer 1.9.1 mining software has added support for the new KAWPOW algorithm used by Ravencoin (RVN) for AMD GPUs with Nvidia GPU support expected soon to be available as well. This is essentially the second GPU miner to support KAWPOW on AMD with the other one being NBMiner with both miners being closed source and with 2% development fee for the KAWPOW algorithm. Nanominer claims they use their own custom implementation for KAWPOW and we see slightly higher hashrate compared to what we get with […]

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ICE Paid Loeffler $9 Million Bonus Right Before She Entered the Senate

Financial statement reviews show the Intercontinental Exchange, or ICE, gifted U.S. Senator Kelly Loeffler millions during her departure from its daughter company, Bakkt. Recent financial statement analysis from the New York Times showed Georgia Senator, Kelly Loeffler, received a hefty sum after she departed her post as Bakkt’s CEO.  ICE gave Loeffler a reported $9 million in financial assets and “other rewards,” the New York Times said in a recent report. According to the numbers, not including her base salary, Loeffler received $12.5 million total last year […]

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