Monthly Archives: August 2020

How One Line of Code Destroyed Yam DeFi

A single mistake cost them everything. The now notorious project, Yam.Finance, was launched without a proper code audit just like many other projects in the space. Richard Ma, the CEO of blockchain security company Quantstamp, told Cointelegrpah that many DeFi projects are launched unaudited in order to capitalize on reverse psychology: “Not having an audit is currently seen as a good way to use reverse-psychology to do marketing.â€� He added, “It creates the perception that these projects are so in-demand, and that you’re getting in on it […]

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Bitcoin.com Wallet Reveals USDT Support – Users Can Swap and Store SLP-Based Tether

During the first week of July, Bitcoin.com’s Wallet added a number of new features including a portfolio breakdown and honestcoin (USDH) swapping abilities. With the latest update this week, Bitcoin.com Wallet users can now store the SLP-based stablecoin tether (USDT) in their wallets as well. Tether (USDT) is the most popular stablecoin in the crypto ecosystem to-date and Bitcoin.com Wallet users can now store, send, and receive the stablecoin at any time. News.Bitcoin.com recently reported on how the firm Tether Limited utilized the Simple Ledger Protocol technology […]

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The SEC Has Charged An ICO Operator for Misrepresenting His Platform’s Technology

The long arm of the law comes for another ICO. The U.S. Securities and Exchange Commission, or SEC, publicized legal action against another 2017 Initial Coin Offering, or ICO. Boon.Tech and Rajesh Pavithran, the project’s CEO, face fraud accusations from the commission, as well charges associated with securities registration, an Aug. 13 statement from the SEC detailed.  The statement added: “According to the SEC’s order, from November 2017 to January 2018, Boon.Tech and Pavithran raised approximately $5 million by selling Boon Coins to more than 1,500 investors in […]

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Official ‘Doctor Who’ Merchandise Is Coming to the Blockchain

Wibbly wobbly, timey wimey stuff is about to become non-fungible. BBC Studios has officially entered the blockchain gaming space after partnering with Reality Gaming Group to develop a digital trading game for the popular TV series, Doctor Who. This marks the first time that the British public service broadcaster has used blockchain technology to market their intellectual property. According to the announcement, BBC Studios granted an exclusive global license to Reality Gaming Group, allowing them to jointly develop a game called “Doctor Who: Worlds Apart.â€� The product […]

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Barstool’s Dave Portnoy Hosts Winklevoss Twins For BTC Talk

Dave Portnoy now knows more about crypto. Barstool Sports founder, Dave Portnoy, posted a video of his meeting with Gemini exchange founders, Tyler and Cameron Winklevoss, on Twitter. Portnoy, also known as Davey Day Trader on Twitter for his stock trading antics, recently invited the Winklevoss twins over to his house to teach him about Bitcoin, via an Aug. 4 tweet.  After briefing Portnoy on the basics, the twins guided the Twitter trader through a few purchases on Gemini, using the $250,000 he statedly sent to the […]

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Abra CEO Explains Why It’s Bitcoin’s Time to Shine

With expectations of further U.S. dollar inflation, why would people hold cash? The U.S. government’s attempts to fix the current economic situation could ultimately lead to greater Bitcoin (BTC) adoption, according to Bill Barhydt, CEO of crypto wallet and exchange solution, Abra.  “I think that this is a pivotal moment for Bitcoin as a new asset class,” Barhydt told Morgan Creek Digital co-founder Anthony Pompliano during an Aug. 13 podcast interview. Barhydt noted the U.S. government’s goals for intentional inflation as rationale for his thesis.  As part of […]

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Why Santander Doesn’t Want to Use Ripple for International Payments Yet

There may be trouble in paradise with one of Ripple’s major partners. Santander, the large scale Spanish bank and one of Ripple’s major partners, is still hesitant to adopt XRP as part of its international payment network, One Pay FX. The company reasoned that the token “was not actively traded in enough marketsâ€� to support the company’s banking needs. During an interview with the Financial Times, Cedric Menager, chief executive officer of One Pay FX, explained that Santander wants to provide the “best [user experience] as quickly […]

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Ross Ulbricht Uses Snail Mail to Send Correction for Blog Post on MakerDAO

Getting all the facts right is hard, especially when you don’t have internet access. Ross Ulbricht, the founder of SilkRoad, has issued a short follow-up to his essay on MakerDAO (MKR) and how it could be redesigned and improved. The follow-up amounts to a small correction to an assumption he made earlier about the Maker system. In his essay, he was puzzled that the DAI Savings Rate, a reward for “stakingâ€� the stablecoin, was higher than what DAI minters paid as interest rate. Indeed this is not […]

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Learn to Profit From Bitcoin’s Growing Correlation With Traditional Assets

Veteran crypto traders Scott Melker and Michaël van de Poppe will be discussing Bitcoin’s different types of correlation with traditional assets and how to best profit from them. Bitcoin’s correlation with traditional assets has grown in the last few months, mainly due to the ongoing, unprecedented macro-economic situation.  How strong are these correlations and how are they changing the way that users trade crypto in general?  Veteran traders Scott Melker and Michaël van de Poppe will be discussing how to correctly read traditional markets to trade Bitcoin […]

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This Ransomware Comes With Its Own Affiliate Program

Crypto crime joins the gig economy. Avaddon, a new ransomware-as-a-service, or RaaS, protocol, is the latest to jump on the crypto extortion bandwagon. Similar to ransomware from groups like Maze and REvil, the Avaddon project offers revenue-sharing for users who successfully deploy the software on unsuspecting victims. According to research by the cyber intelligence firm, DomainTools, RaaS development allows hackers to focus their efforts on malware development, rather than finding new places to deploy their attacks. Developers instead rely on third-party individuals who are looking to generate […]

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