Monthly Archives: July 2020

Tyler Winklevoss: It’s Good For BTC When The Fed Prints Money

Bitcoin may ultimately benefit from the U.S. Federal Reserve’s actions, says Tyler Winklevoss. U.S. government spending may lead to upward Bitcoin (BTC) prices, according to Gemini crypto exchange co-founder and CEO, Tyler Winklevoss.  “The Fed continues to set the stage for bitcoin’s next bull run,” Winklevoss said in a July 22 tweet, which included an article link on the government agency’s discussions of further stimulus spending.   Bitcoin holds against inflation As a decentralized borderless digital asset away from government control, Bitcoin holds as a potential hedge to […]

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University of York Confirms Recent Data Breach Was Caused by Ransomware

A UK-based university is investigating the slow response to a ransomware attack that took place in May. The University of York has confirmed that a ransomware attack from an unnamed gang took place in May. Vulnerabilities from their third-party service provider led to the data breach. According to an announcement via the University’s website, Blackbaud, one of the world’s largest customer relationship management systems for sectors such as the education, confirmed that the cybercriminals managed to extract copies of staff, alumni, and student records. The university clarified […]

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Bank of Korea Launches a Department Devoted to Blockchain and AI

Bank of Korea is launching a digital innovation department that will leverage blockchain and AI to improve business efficiency. The Bank of Korea has reportedly chosen to establish a “Digital Innovation departmentâ€� through organizational reform in the second half of this year, according to the local news on July 22.  Leveraging innovative technologies for efficiency  The Bank plans to introduce a number of different technologies, such as artificial intelligence and blockchain, through the digital innovation department. The department will perform tasks such as implementing new digital technology […]

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Is Bitcoin Price Really Influenced by the Grayscale GBTC Premium?

Traders view the premium on Grayscale Investments GBTC shares as a bullish sign, so does the recent drop to a 20-month low mean a correction is coming? Recently the Grayscale Bitcoin Trust Fund (GBTC) premium to net asset value (NAV) reached its lowest level since November 2018. This premium shows that traders are paying more for GBTC shares than the underlying Bitcoin (BTC) quantity held by the fund. This difference is caused mostly due to retail investors inability to purchase shares directly from Grayscale Investments, whose funds […]

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Treasury Bureau Declares National Banks Can Custody Crypto

The Office of the Comptroller of the Currency (OCC), a bureau within the U.S. Department of the Treasury tasked with regulating the country’s banks and thrift institutions, has published a public letter clarifying that national banks and savings associations can provide cryptocurrency custody services to clients. “In the letter published today, the OCC concludes that providing cryptocurrency custody services, including holding the unique cryptographic keys associated with cryptocurrency, is a modern form of traditional bank activities related to custody services,â€� according to an announcement from the bureau. […]

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China’s Supreme Court Recommends Increasing Crypto Property Rights Protection

The supreme court of China has recommended increasing the legal protection of property rights, including digital currency ownership rights. The recommendations also focus on solving issues such as “the use of public power to infringe private property rights, illegal seizures, and freezing of private enterprise property.” China’s supreme court and the National Development and Reform Commission (NDRC) published Wednesday a document detailing their opinions in several areas, including “Strengthening the judicial protection of property rights.” China’s top economic planner, the NDRC is an agency under the State […]

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AMFEIX Investors Raise Concerns About Massive Pending Withdrawal Requests

Investors tell us that something has gone wrong within a once-hot crypto company. A number of people who invested in a cryptocurrency company are claiming that the company is scamming its users. The fund in question is called AMFEIX, which promised high-yield monthly returns to its users and supposedly raised more than $60 million in Bitcoin (BTC). At the end of June, Cointelegraph began receiving emails from AMFEIX users who had invested their funds into the project. These users claimed that there have been lots of pending […]

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Most Music Listeners Would Pay for Music with Crypto to Help Artists

The survey revealed that 65% of eMusic customers would use cryptocurrency to allow artists to receive a larger music revenue split. A survey conducted by pioneering digital music store eMusic revealed that most of their service’s users were open to paying with crypto if it allowed artists to earn more. The survey — shared exclusively with Cointelegraph — revealed that 65% of eMusic customers would use cryptocurrency if it was for the aforementioned reasons. It is worth noting that a mere 8% of the respondents had used […]

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Price Analysis 7/22: BTC, ETH, XRP, BCH, BSV, ADA, LTC, CRO, LINK, BNB

Many altcoins could pick up momentum If Bitcoin and Ethereum break above key resistance levels in the coming days. Since March central banks have been printing money aggressively in order to combat the economic downturn brought about by the coronavirus pandemic.  Philip Lowe, the governor of the Australian Reserve Bank, has warned against the consequences of unlimited monetary expansion. Lowe said that “there is no free lunch,â€� and somebody always has to pay for the money printing “in one form or the other.â€� The European Union has […]

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Can Compliance and AML Software Improve Cryptocurrency Business Sustainability?

Cryptocurrency businesses are facing increasing challenges as new regulations are introduced globally, which is changing the face of the industry and forcing companies to search for effective solutions. Anti-Money Laundering and Combatting the Financing of Terrorism regulations demand that financial companies follow strict guidelines in order to curb and track illicit activity. Staying in compliance with these laws can often be difficult, especially for small cryptocurrency companies. The amount of money and staffing needed to enforce these rules can add up fast and is often unsustainable, but […]

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