Category Archives: Crypto News

Central Bank Digital Currencies Could Have Legitimate ‘Role,’ Says IMF’s Lagarde

IMF head Christine Lagarde says relevant actors “should consider the possibility to issue digital currency.” The head of the International Monetary Fund (IMF) has said the international community should “consider” endorsing central bank issued digital currencies (CBDCs) in a speech at the Singapore Fintech Festival Nov. 14. IMF managing director Christine Lagarde said that despite being “not entirely convinced” on the concept of cryptocurrencies more generally, there may be a case for states to issue government-backed tokens or similar assets. “I believe we should consider the possibility […]

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Bank of America Wins Patent for Storing Clients’ Crypto Holdings in Enterprise Accounts

The Bank of America has won a patent for a system for enterprises to store customers’ crypto deposits. The Bank of America (BoA) has won a patent for a system for enterprises to store customers’ crypto deposits, published by the U.S. Patent and Trademark Office (USPTO) yesterday, Nov. 13. The patent, first filed in mid-June 2014, outlines the background to the invention by stating that “as technology advances, financial transactions involving cryptocurrency have become more common,” and noting: “For some enterprises, it may be desirable to aggregate […]

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Bear Market and Declining Hashrates Mean Mining ETH No Longer Profitable, Analysis Finds

Susquehanna’s analysts say that due to the slump in crypto markets and declining network hashrates, mining Ethereum using a GPU is no longer profitable. Mining Ethereum (ETH) using a graphics processing unit (GPU) is no longer profitable, according to an analysis from U.S.-based global trading and technology firm Susquehanna. CNBC reported Nov. 13 on Susquehanna’s findings, which point to the protracted slump in crypto markets and declining network hashrates as reasons for the profit decrease. In Susquehanna’s analysis, profit per month for ETH miners using GPU-based setups […]

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Xerox Wins Patent for Blockchain System That Tracks Revisions to Electronic Documents

Xerox was awarded a patent by the U.S. Patent and Trademark Office for a blockchain platform that can track amendments made to electronic documents. The U.S. Patent and Trademark Office (USPTO) has awarded Xerox a patent for a blockchain-driven auditing system for electronic files, according to a patent filing published Nov. 13. Xerox — known for its eponymous  printing and digital copying appliances — first filed the patent in August 2017. The patent describes a blockchain-based system for the secure recording of revisions made to electronic documents. […]

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Report: Google G Suite Twitter Account Compromised to Promote 10,000 Bitcoin Scam

The Twitter account of Google’s G Suite was reportedly breached to advertise a 10,000 Bitcoin giveaway scam. The official Twitter account of Google‘s G Suite was reportedly compromised to promote a Bitcoin (BTC) giveaway scam, technology and business news outlet the Next Web reported Nov. 13. The G Suite Twitter account was reportedly hacked to advertise a BTC giveaway scam to the page’s more than 800,000 followers. Scammers supposedly spread a message luring users to participate in a fraudulent 10,000 BTC giveaway, concurrently announcing that Google’s G […]

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Canada Continues To Attract Cryptocurrency Mining Companies As DMG Blockchain Opens A Plant

Recently, Canada has experienced a significant increase in the number of Cryptocurrency mining companies setting up in the country. DMG Blockchain Solutions has become the latest company to open a mining farm in the vast country. The weather and cheap electricity are among the main factors that are encouraging more Crypto miners to move to the North America country. DMG Blockchain Solutions Mining Facility Becomes Operational DMG Blockchain Solutions has announced that its new Cryptocurrency mining facility in Canada is complete. The 27,000 square foot facility is […]

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Judge Rules in Favor of Canadian Bank in Dispute With Crypto Exchange

An Ontario Superior Court Judge has ruled with the Canadian Imperial Bank of Commerce in a dispute with Canada’s largest crypto exchange regarding frozen funds. A $19.6 million disputed sum between Canada’s largest crypto exchange QuadrigaCX and the Canadian Imperial Bank of Commerce (CIBC) has been handed into the custody of the Ontario Superior Court, per a court document filed Nov. 9. On Oct. 8, Canadian newspaper the Globe and Mail reported that Vancouver-based QuadrigaCX had been experiencing difficulties accessing $16.3 million of its funds since January, […]

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Germany: Bitcoin.de Crypto Exchange Operator to Acquire 100% of Investment Bank Tremmel

Bitcoin Group SE, operator of major German crypto trading platform bitcoin.de, has acquired a 100% stake in investment bank Tremmel Wertpapierhandelsbank GmbH. German holding company Bitcoin Group SE has acquired a 100 percent stake in investment bank Tremmel Wertpapierhandelsbank GmbH, Cointelegraph auf Deutsch reports today, Nov. 13. Bitcoin Group SE, based in Herford, Germany, operates what is reportedly the country’s only regulated crypto exchange, Bitcoin Deutschland AG, also referred to by its domain, Bitcoin.de. Upon acquisition of the banking institution, which according to its website focuses on […]

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Report: Nvidia to See Q3 Strong Earnings, Crypto-Related GPU Sales Remain in Downtrend

A recent report by Trefis suggests Nvidia will see strong GPU sales growth in Q3, though revenues from crypto-related activities will remain in a downtrend. Experts from analytical firm Trefis have forecasted increased sales of Nvidia’s graphics processing units (GPUs) at the end of the third quarter (Q3) of this year, Forbes reported Nov. 13. Trefis notes that, while overall GPU sales will be up, sales from cryptocurrency-related activities will remain in a downtrend. American GPU manufacturer Nvidia is purportedly set to release its Q3 results on […]

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Poll: One Third of German Logistic Managers Think Blockchain Will Improve Supply Chains

A survey recently conducted by Hermes shows that one third of German logistics managers believe that blockchain will improve cooperation in supply chains. More than a third of German logistics managers believe that blockchain technology has the potential to significantly improve cooperation in supply chains, according to a Hermes survey published Nov. 12. The survey polled participants on which technologies they believed were important for improving cooperation within the supply chain. 35 percent of respondents recognized the importance of blockchain, while 33 percent said that big data […]

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