Monthly Archives: October 2020

187,000 BTC Drained: Over $2 Billion in Bitcoin Leave the Top Exchanges Since June

Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen significant bitcoin reserve balance drops. A few months ago trading platforms had a lot more bitcoin reserves on hand and onchain data shows a few exchanges have seen customers steadily drain 187,000 bitcoins ($2.1B) from exchange-owned cold wallets. In February, Coinbase had 1 million bitcoin under management and today reserves are down over 9% as 92,000 bitcoin ($1B) has left the exchange. Today, according to Bituniverse’s […]

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Ledger’s recent security audit was unconnected to their data breach in June

It seems the review was already in process before the attack ever occured. Popular hardware wallet company Ledger recently announced that they had passed a notable security evaluation, known as SOC 2 Type 1. This certification came following a significant data breach the company suffered in June. Ledger did not, however, decide to conduct its security audit because of the breach, according to comments from a Ledger representative.  “Ledger is always seeking to raise the security standards and has been working on getting the attestation prior to […]

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Record-high Bakkt Bitcoin delivery exposes institutional frenzy for BTC

Bakkt recorded an all-time high Bitcoin delivery in October, demonstrating a clear spike in institutional demand for BTC. Data from Arcane Research shows Bakkt Bitcoin exchange saw another record-high month from Sept. 20 to Oct. 20. This follows a noticeable rise in institutional demand for Bitcoin (BTC) from public companies in recent months. Bitcoin delivery on Bakkt. Source: ICE, Arcane Research Bakkt, the digital asset payment platform and derivatives exchange, is tailored for institutional investors in the U.S. It is operated by Intercontinental Exchange, the parent company […]

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Law Decoded: The rivalry between central banks and global stablecoins, Oct. 9–16

Talk of CBDCs and Facebook’s Libra headlined this week’s policy news, as international organizations weigh in on both. Editor’s note Blockchain technology has attracted regulatory attention since its inception. The security of the Bitcoin network despite the value of BTC in play has consistently proved the resilience of blockchain technology in maintaining records across a vast range of parties. However, many countries have determined that Bitcoin doesn’t behave as a currency at all, or at least not a replacement for their own. The nations behind the world’s […]

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Price analysis 10/16: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, BSV

Bitcoin and altcoins must rebound off their immediate support levels to recapture bullish momentum and resume the uptrend. Chicago Mercantile Exchange’s cash-settled Bitcoin (BTC) futures trading products “contribute more to price discovery than its related spot markets,” according to findings in a new report by investment firm Wilshire Phoenix. The increasing volumes of crypto derivative products highlight greater participation from institutional investors and this will likely be positive for the entire crypto space. This is not unique to cryptocurrencies because even in most other asset classes, the […]

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The Van Wirdum Sjorsnado: Bitcoin Core 0.21 Supports Tor V3

On this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss one of the biggest releases in Bitcoin’s history: Bitcoin Core 0.21. Specifically, they dive into how this release will add support for Tor V3 addresses, an important development for preserving privacy, and explain what this means and why it matters. The pair also discuss how new Bitcoin nodes find existing Bitcoin nodes when they bootstrap to the network. Listen to the audio version here: Apple Podcasts: https://podcasts.apple.com/us/podcast/the-van-wirdum-sjorsnado/id1532957243#episodeGuid=33ac1be5-ac65-45cf-a47d-8b3a65d8f6b4 Spotify: https://open.spotify.com/episode/6nLPIOciXW8M6KXZJcl922?si=5s3pobbTQNC1z89caH2EhQ Libsyn:http://nadobtc.btc.libsynpro.com/bitcoin-core-021-supports-tor-v3-nado-13 Helpful links for following along […]

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Okex Halts Withdrawals Due to ‘Out of Touch’ Private Key Holder, Founder Star Xu Talks With Police

The digital currency exchange Okex disabled cryptocurrency withdrawals on Friday morning and explained that funds were “safe and not affected.” Following the withdrawal announcement, regional reports claim that Okex’s founder Mingxing “Star” Xu was taken away by the police. On Friday morning (ET) a local report from the publication Caixin detailed that the founder of Okex, Mingxing “Star” Xu, was taken away by the police. Hours before the Caixin published the report, Okex’s official Twitter account announced pausing withdrawals on the exchange. “Withdrawals of digital assets/cryptocurrencies Okex […]

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Germany’s blockchain solution hopes to remedy energy sector limitations

Germany’s blockchain solution for distributed energy resources puts interoperability to the test. Distributed energy resources, or DERs, have the potential to disrupt traditional electricity markets. Therefore, it shouldn’t come as a surprise that innovative countries are looking toward emerging technologies that will allow DERs to transform entire energy economies. Germany in particular is interested in using DERs to drive its digital energy economy while also complying with the European Green Deal. As such, the Deutsche Energie-Agentur, also known as DENA — the main governmental group responsible for […]

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Bitcoin’s Taproot is ready to go, but it’s unlikely to be included in the next release

Developers don’t want to move too fast. The Bitcoin Improvement Proposals 340 through 342 were merged into the Bitcoin codebase on Thursday, signaling that the anticipated Taproot upgrade is ready. Taproot and the associated technology of Schnorr signatures are considered to be the most important upgrade for Bitcoin in the past year. It is primarily a privacy improvement for complex spending conditions on Bitcoin like multisig transactions, time locks and other conditions based on Bitcoin Script. As Cointelegraph reported previously, Taproot hides every additional spending condition beyond […]

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New Civil Liberties Alliance Challenges IRS Collection Of Private Crypto Investment Data

If you’re a bitcoin trader or investor, you’ve probably traded on multiple cryptocurrency exchanges and, for the most part, trusted that those exchanges are keeping your data secure from unlawful data collection just like a bank or credit card provider would. Unfortunately, that doesn’t seem to be the case.  On July 15, 2020 (Tax Day this year), New Civil Liberties Alliance (NCLA) filed a lawsuit on behalf of James Harper against the IRS, challenging the agency’s unlawful collection of private cryptocurrency information. Harper decided to take this […]

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