Monthly Archives: April 2019

Vidi, Vici, Satoshi: The Lightning Torch Has Reached Its Final Destination

The Lightning Torch, a Lightning Network payment that has been forwarded to bitcoiners around the world via Twitter, has run its course and reached its end in the charitable hands of Bitcoin Venezuela. It’s grown a lot since we last covered it in February. In fact, the term “Torch” doesn’t seem to do it justice anymore. At this point, it could rightly be called a bonfire. Admittedly, it’d be impossible to pass a bonfire around the world (a Torch sounds much more feasible), but the Lightning Torch […]

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US Reps Urge IRS to Clarify Reporting of Crypto Taxes Ahead of April 15 Deadline

U.S. Congressmen sent a bipartisan letter to the IRS asking to clarify the basics of crypto tax reporting. Members of the United States Congress sent a joint request to the Internal Revenue Service (IRS) to provide clarity on reporting crypto taxes, according to an announcement on April 11. 21 different representatives sent a bipartisan letter to the U.S. tax authority requesting guidance on how to report virtual currency taxes. The action took place before the filing deadline for federal income tax returns on April 15, 2019. In […]

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Horizen Labs Raises $4 Million to Build Sidechain-as-a-Service Platform

Tech firm Horizen Labs has raised $4 million in funding it will use to develop its sidechain-as-a-service products. Horizen Labs — a tech firm that helps businesses build distributed ledger platforms — has raised $4 million in funding, according to a blog post published on April 11. Horizen Labs initially aimed to raise $2 million in seed funding, but overshot its goal and received $4 million from Digital Currency Group — an institutional trading firm focused on cryptocurrencies, seed stage fund Liberty City Ventures, and other independent […]

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US Startup Raises $14.1 Mln for Blockchain-Based Payments Network for Retailers

American blockchain startup Flexa raised $14.1 million in funding to release a blockchain-powered payment network for retailers. New York-based blockchain startup Flexa has raised $14.1 million to develop a payments network for retailers. The development was announced in a press release published on April 11. Per the release, Flexa has raised $14.1 million in funding from such participants as early stage token fund 1kx, investment firms Access Ventures and Nima Capital, and hedge fund Pantera Capital, which recently revealed that it was close to completing funding for […]

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Former Paypal, Google Engineering Exec Joins Bakkt as Chief Product Officer

Mike Blandina, who has over 25 years of experience in payments and engineering, joined Bakkt as its new chief product officer. A former engineering executive at PayPal and Google will join the team behind the institutional digital asset platform Bakkt, the firm’s CEO Kelly Loeffler announced in a blog post on Medium on April 11. With over 25 years of experience in digital payments, engineering, strategy and operations, Mike Blandina has joined Bakkt as its chief product officer (CPO). As the new CPO of Bakkt, Blandina will […]

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Bitcoin Miner Recounts Struggle to Obtain Cheap Iranian Power

Over the last six months, reports of Chinese miners crossing the border to obtain cheap electricity from regions like Vietnam, Cambodia, Thailand, and Iran have abounded. According to a recent interview, Chinese miners have found extremely affordable electric prices ($0.006 per kilowatt-hour) in the oil-rich nation of Iran. However, managing to get thousands of machines over the Iranian border has proven to be far more difficult. Also read: Last Will Platform Allows Your Loved Ones to Inherit Your BCH Iran Offers Cheap Electricity But Setting up a […]

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Craig Wright Threatens Libel Suit In Letter to Bitcoiner, Demands Apology

Craig S. Wright has officially taken the first steps in a legal action against a member of the Bitcoin community, according to a letter shared with Bitcoin Magazine. The self-described Satoshi Nakamoto and Bitcoin SV creator has threatened to sue Hodlonaut, the creator of the Lightning Torch, for a series of tweets labeling him a “fraud” on Twitter. Following the forksplit of Bitcoin SV from Bitcoin Cash — and Wright’s continued indefatigable insistence that he is Satoshi — the community has been unyielding in its own insistence […]

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Coinbase Introduces Debit Card Linked to Cryptocurrency Balances for U.K. Customers

Major U.S.-based crypto platform Coinbase has launched the Coinbase Card, a debit card that lets U.K. customers make purchases online and in-store using cryptocurrency. The new card will link the customers’ crypto balances held on the Coinbase platform with their debit cards — converting crypto holdings into fiat currencies to complete each transaction. The Coinbase card gives users the ability to make payments via “contactless, Chip and PIN, as well as cash withdrawals from ATMs,” an official press release from the exchange states. The debit cards will […]

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Bittrex Goes on the Offensive After BitLicense Rejection

Bittrex, a United States–based cryptocurrency exchange platform, has issued a response to the recent setback in its plans to expand to New York. Yesterday, the New York State Department of Financial Services (NYDFS) rejected the exchange’s BitLicense application, a requirement for offering crypto-based services to New Yorkers. NYDFS also published a letter addressed to Bittrex CEO Bill Shihara, where it cited inadequate Anti-Money Laundering (AML), Know-Your-Customer (KYC) and Office of Foreign Assets Control (OFAC) standards as reasons for its denial. Bittrex had applied for the permit in […]

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Crypto Hedge Fund Polychain Capital Saw Assets Under Management Drop 40% In Q4 2018

Cryptocurrency hedge fund Polychain Capital saw its assets under management shrink from an erstwhile $1 billion high to $591.5 million in Q4 2018. Cryptocurrency hedge fund Polychain Capital saw its assets under management (AUM) shrink from an erstwhile $1 billion high to $591.5 million in Q4 2018. The news was reported on by the Wall Street Journal on April 11. The WSJ’s sources attributed the steep decline to a drop in the value of the fund’s holdings amid a protracted crypto bear market, “rather than […] redemptions […]

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