Monthly Archives: August 2020

An Official North Dakota Cryptocurrency Could Be on the Horizon

Following the early 2019 initiation of North Dakota’s deep dive into blockchain use cases, a state representative who was a leader in the study, mentioned a future digital asset concept for the region. Rep. Nathan Toman believes that an official “North Dakota coin” could potentially help the state’s struggling economy in the wake of COVID-19, an Aug. 7 article from Inforum said. “That was my hope, but we’re a little bit late to the game on doing something like that,” Toman told Inforum regarding COVID-19 and the potential […]

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Law Decoded: Tech as an Arena for International Conflict, July 31–August 7

As Trump clamps down on Chinese social media in the U.S., tech in general becomes subject to nationalism. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.  Editor’s note The U.S.–China trade war continues its brazen spillover into tech. In response to concerns over where data from TikTok and WeChat was going, President Trump sent out twin executive orders banning both applications last night.  The new action is distinct from, for example, squeezing Huawei out. Huawei’s hardware […]

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OneCoin Co-Founder Escapes 90-Year Jail Term Following Court Settlement

Konstantin Ignatov is probably breathing a sigh of relief today. Konstantin Ignatov, co-founder of major cryptocurrency exit scam, OneCoin, initially faced up to 90 years in jail after pleading guilty in November 2019. Now, however, it seems that Ignotov is no longer one of the key defendants in legal actions brought by victims of the $4 billion scam, according to a report from Finance Magnates on Aug. 7. OneCoin investors representing plaintiffs Donald Berdeaux and Christine Grablis have agreed to settle with Ignatov. While the details of […]

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Monero’s Hashrate Experienced Its Largest Single Day Gains Ever

Monero has experienced its biggest single day gain in hashrate since its creation back in 2014. August 6, Monero (XMR) has experienced its biggest increase in hashrate since the network’s creation in 2014. Monero hashrate. Source: Coin Metrics. The Monero hashrate increased from 1.67 GH/s on August 5 to 2.2 GH/s on August 6. That 0.52 GH/s single day gain is the highest in the project’s history. Prior to this, most significant daily percentage gains came in the project’s early days when the base was much smaller. […]

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Price Analysis 8/7: BTC, ETH, XRP, BCH, BSV, LTC, ADA, LINK, BNB, CRO

Bitcoin and altcoins might consolidate or correct marginally for a few days before a possible breakout to the upside. The U.S. Federal Reserve has been contemplating a change in the way it responds to a possible increase in inflation. Previously, the Fed would kickstart tightening if its models forecast a 2% inflation increase. However, this time, the Fed wants to allow inflation to stay above their 2% target before raising rates.  Morgan Creek’s Anthony Pompliano believes that due to Fed’s poor track record with inflation targets, they […]

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California’s Attorney General Warns People to Be Wary of Crypto Scams

California authorities recently came out with a fresh cautionary statement on crypto crime. Xavier Becerra, California’s attorney general, recently told the public to watch out for possible crooked dealings surrounding crypto and digital assets.   While broadly referencing other hacks, an Aug. 7 statement from the California Department of Justice said: “Recently, unscrupulous actors have impersonated well-known politicians, celebrities, and business executives on social media and YouTube channels in ‘giveaway’ scams that falsely promised, for example, to double any digital assets sent to a specific digital asset wallet.” […]

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Ethereum Developers Discuss Potential Ways to Avoid ETC’s Fate

After a string of 51% attacks on Ethereum Classic, developers from its core chain rival, Ethereum, discuss ways of avoiding the same fate. In a Core Devs meeting on Friday, Ethereum (ETH) developers discussed potential measures that could be taken to prevent successful 51% attacks from occurring. The discussion was inspired by this week’s 51% attacks on Ethereum Classic (ETC) — a network that represents the original state of Ethereum where the consequences of the DAO hack in 2016 were not reverted. The original attack, which occurred […]

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No One Knows Why Binance.US Is Down Right Now

Binance’s U.S. trading platform is currently experiencing unexpected platform malfunctions. Binance.US, the United States branch of major crypto exchange Binance, began suffering unforeseen platform issues on Aug. 7 around 15:26 UTC time, resulting in the company temporarily shutting off exchange features.   “Please rest assured that all customer funds are safe, and we will provide a further update soon,â€� a Binance.US representative told Cointelegraph.  “At 11:26am EST, we noticed our systems not functioning as intended,” Binance.US tweeted on Aug. 7.  The tweet added: “To protect our users, we […]

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Bitcoin Price Briefly Crashes to $11.2K After US Jobs Data Disappoints

The price of Bitcoin briefly crashed to $11,219 on Bitstamp after disappointing job data hit markets. The price of Bitcoin (BTC) dropped to $11,219 on Bitstamp on Aug.7 after the U.S. stock market declined. BTC recovered quickly from the brief crash, stabilizing at above $11,600. The price of Bitcoin drops steeply on Bitstamp. Source: TradingView.com The release of new job data caused the U.S. stock market to slump in mid-day. Nonfarm payrolls rose by 1.763 million in July, surpassing Wall Street expectations by 10.6%. Despite the optimistic […]

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6 Questions for Paul Veradittakit of Pantera Capital

“I would love to invest into a consumer-facing application that could get blockchain-usage into the mainstream. Initially consumers wouldn’t know that blockchain is actually powering the application, thus removing the friction and education necessary.â€� Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!   This week our 6 Questions go to Paul Veradittakit, a Partner at Pantera Capital. Pantera Capital is one of the […]

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