Monthly Archives: November 2020

QuadrigaCX trustee only has $30M to pay $171M worth of claims

The trustee for the collapsed Canadian crypto exchange QuadrigaCX, has received $171 million in claims from the exchange’s customers. The trustee of the controversial failed cryptocurrency exchange QuadrigaCX, Ernst & Young (EY), has revealed that it only has roughly $29.8 million in funds to distribute to claimants, despite receiving $171 million worth of claims. In a Nov. 6 update filed with the Ontario Superior Court of Justice, EY revealed it has received 17,053 claims from customers who had entrusted their funds with the Canadian exchange. The claims […]

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Global law firm launches ‘high value asset’ token platform ‘TOKO’

DLA Piper’s new tokenization platform has already completed its first asset tokenization with a “piece of fine art.” TOKO, a new tokenization platform targeting ‘high-value assets’ has launched as a proof-of-concept by tokenizing a piece of fine art.  The platform is a collaboration between international law firm DLA Piper — which operates in more than 40 countries — Aldersgate DLS and Hedera Hashgraph. Although it has the ability to function across any asset class, the team identified the best use case “for high value assets in alternative asset classes such […]

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Bitcoin Cash-Fueled Onchain Social Media Platform Memo Launches iOS App

Two years ago, an onchain social network called memo.cash was launched and the application has developed quite a bit since then. On Tuesday, the Memo team revealed that the platform is now available for iOS phones via the App Store. Apple users can now connect to the social network that etches a user’s content to the Bitcoin Cash blockchain. During the last few years, especially with deplatforming on the rise, uncensorable forums, immutable streaming video apps, and onchain social media projects have been developed. Worldwide governments in […]

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Ledger owners lose 1.1 million XRP to scam site

After a major leak of email and personal information earlier this year, Ledger customers are experiencing a surge in phishing attempts. Phishing attempts and scams against Ledger wallet owners are on the increase with one such scam netting more than 1,150,000 XRP from its victims. The scam used a phishing email that directed users to a fake version of the Ledger website that substituted a homoglyph in the URL — in this case a letter that looked like the letter ‘e’ but wasn’t. On the fake site, […]

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‘I destroyed my life’: Uniswap trader spends $9,500 in fees on $120 transaction

An impatient Uniswap trader accidentally paid more than 23 Ether to execute a $120 trade on the decentralized exchange. A clumsy trader claims to have “destroyed” their life after inadvertently paying $9,500 in fees for a $120 transaction on the decentralized exchange (DEX) Uniswap. On Nov. 5, Reddit user ‘ProudBitcoiner’ posted that he had accidentally paid 23.5172 Ether (ETH) for a single trade after getting the “Gas Limit” and “Gas Price” input boxes confused in the MetaMask wallet. “Metamask didn’t populate the ‘Gas Limit’ field with the […]

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‘Formula E’ racing title among four NFT-powered games announced today

Non-fungible tokens are booming, with Animoca Brands and Skymarch revealing upcoming gaming titles powered by NFTs. Blockchain gaming firm Animoca Brands has announced a licensing agreement with electric single-seater car racing championship Formula E to develop a blockchain-powered motorsports game featuring non-fungible tokens (NFTs). The Formula E game will utilize Animoca’s REVV utility token as an in-game currency. REVV is also used as an in-game currency for Animoca’s F1 Delta Time title, and upcoming MotoGP game. Formula E was conceived in 2011 by Jean Todt of the […]

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Nigeria hopes blockchain will generate $10B revenue by 2030

“We want Nigeria to be strategically placed to capture value from this economic potential of blockchain,” stated the NITDA director-general. The director-general for Nigeria’s National Information Technology Development Agency, or NITDA, has said that the country could potentially expect a revenue stream between $6 billion to 10 billion from blockchain technology in the next ten years. According to a Nov. 5 announcement from the NITDA, Director-General Kashifu Inuwa spoke at a stakeholders meeting in the Nigerian capital of Abuja to review the agency’s National Blockchain Adoption Strategy […]

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‘Extreme greed’ and FOMO taking hold as BTC nudges $16K

Bitcoin has powered to its highest price since early 2018 as the buying frenzy continues. Bitcoin has just powered up to its highest price since January 8, 2018, knocking on the door of $16,000 as FOMO grips the markets once again. In a move upwards that has added more than 12% over the past 24 hours, Bitcoin prices touched their highest levels for 33 months reaching $15,980 during early trading in Asia today, November 6, according to Tradingview.com. The $16K level may form resistance since there were […]

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Almost 80% of Square’s Cash App Q3 revenue was from Bitcoin

Square’s Cash App has increased Q3 Bitcoin revenue by 1,100% after more than $1.6 billion Bitcoin was purchased by users Cash App, the Bitcoin-friendly mobile payments app from U.S. financial services firm Square, has reported Bitcoin (BTC) has overtaken all other revenue sources, making up almost 80% of its entire revenue in the third quarter. In Square’s third-quarter report, Cash App’s Bitcoin-derived revenue of $1.63 billion in Bitcoin marked a massive increase of more than 1,100% when compared to the same period in 2019. Bitcoin revenue was […]

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Bulls keep running as Bitcoin price notches a new 2020 high at $15,950

Bitcoin price reached a new 2020 high at $15,950, leading analysts to predict a continued rally to $17,000. In the last 24-hours the price of Bitcoin (BTC) rose by more than 10%, breaching the $15,000 handle for the first time since January 2018, and reaching a new 2020 high at $15,950.  Data from Cointelegraph Markets shows the BTC/USD pair briefly rose to $15,950 before retracing to $15,500. According to crypto analytics platform Messari, Bitcoin has now spent more than 20 days above the $15,000 barrier and 19 […]

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