A subsidiary of Chinese firm Huatie has been sold off at 10 percent of its initial value following losses from suspected secret cryptocurrency mining activities amounting to about $23 million. 90 Percent Value Plunged Probably Due to 2018 Bear Market According to Chinese crypto media outlet 8BTC, Huatie HengAn, a subsidiary of Huatie has been sold for $2 million. Reports indicate that the company’s value plunged by about 90 percent from an initial valuation of $25 million, all in the space of one year. Huatie HengAn originally a construction company…
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Russia Adopts Law to Isolate Runet From the Internet
Runet, the Russian segment of the internet, is about to be isolated from the rest of the web. A new law adopted by the State Duma aims to do so in order to supposedly protect it from external threats and turn it into a “sovereign” space. Russian taxpayers and end users will pay the bill for the extra security that is likely to affect internet businesses including crypto platforms. Also read: Lithuania to Adopt Crypto Regulations Even Stricter Than the EU’s Is Moscow Building Russia’s Great Firewall? This week, the…
Read MoreRussian Secret Service Demanded $1M Bitcoin Bribe From Media Mogul
Bitcoin hit the headlines in Russia again this week after it emerged the country’s law enforcement had tried to extract a bitcoin bribe worth $1 million. FSB Illegally Sought $1.02 Million As local cryptocurrency news media outlet Coinspot.io reported April 17, a scandal involving Russia’s secret police and the ex-head of one of the country’s biggest newspapers has boiled over, with both parties now finding themselves under arrest. According to an ongoing court case, up to 15 members of Russia’s FSB secret service may have tried to squeeze 65 million…
Read MoreFirst ‘Trustless’ P2P Bitcoin Derivatives Transaction Made By Blockstream
Blockstream has announced the success of a “trustless” Bitcoin forward contract transaction with Crypto Garage. The Bitcoin infrastructure developer says the news marks a watershed moment in the actualization of decentralized trading and settlement infrastructure for BTC derivatives. Details of the Transaction In a blog post published by Blockstream on Friday (April 19, 2019), the company said it successfully carried out a peer-to-peer (P2P) Bitcoin forward contract with Crypto Garage. Forward contracts (forwards) are private agreements between two entities – buyer and seller, that allows the purchase and sale of…
Read MoreWithout a True Two-Way Peg No ‘Real’ Sidechain Exists, Says Drivechain Creator
On April 17, the founder of the Drivechain project, Paul Sztorc, published a new blog post concerning the validity of today’s so-called ‘production sidechains.’ Sztorc has declared on multiple occasions that true sidechain technology hasn’t been invented yet and even Blockstream’s Liquid protocol, dubbed “the first production sidechain,” in a critical sense is not a ‘real’ sidechain. Also read: Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter Paul Sztorc Questions the Validity of the Supposed ‘First Production Sidechain’ Over the last year, there’s been a lot of…
Read MoreUS Presidential Candidate Yang Promises ‘Clear’ Bitcoin Regulation
2020 US Presidential hopeful Andrew Yang has given the clearest sign yet that he welcomes Bitcoin, releasing a dedicated statement on cryptocurrency regulation this week. Yang Highlights ‘Vast Potential’ Yang, whose pitch revolves around radical economic policy such as installing a Universal Basic Income (UBI), said that he would create “clear” legislation on crypto, using pro-industry legal schemes such as that of Wyoming as role models. “Investment in cryptocurrencies and digital assets has far outpaced our regulatory frameworks in the US,” he summarized. We should let investors, companies, and individuals…
Read MoreEvery Crypto That’s Migrating to Binance Chain is Pumping
Cryptocurrencies who are making the move to the new Binance Chain DEX are seeing some impressive price gains, which could open the floogates for many more to follow. Chain Migrations Are So Hot Right Now Shortly after announcing the launch of its mainnet yesterday, as well as the details for the BNB swap, Binance revealed that Mithril (MITH) will be the first project to see its token migrated on Binance Chain. “MITH will be one of the first projects to migrate tokens onto Binance_DEX. Our community, thank you for your…
Read MoreFive Simple Ways to Increase Your Privacy When Using Cryptocurrency
Cryptocurrency without privacy is pointless. If your coins aren’t fungible, you lose much of the benefits of using cryptocurrency in the first place. Privacy isn’t just won and lost onchain though. In fact, much of the privacy gains to be made when it comes to sending, spending and trading crypto occur offchain, as you go about your business on the web. Also read: Wasabi’s Privacy-Focused BTC Wallet Aims to Make Bitcoin Fungible Again The Never-Ending Quest for Privacy Privacy is like fitness: a way of life rather than a task…
Read MoreRussia is Realizing It Has No Clue How to Regulate Cryptocurrency
The proposed ‘digital assets’ law aims to “legalize ICOs” in Russia and is expected to be reviewed in May. But lawmakers are slowly realizing the futility of regulating Bitcoin and cryptocurrency that are un-regulatable by design. Russia’s ‘Digital Assets’ Bill Would Legalize ICOs Earlier this week, Russia’s Deputy Finance Minister Alexey Moiseev shared his thoughts on the country’s developing cryptocurrency laws. Speaking on the sidelines at the Economic Forum in Yalta, the Minister says the main aim of the proposed ‘digital assets’ law is to legalize ICOs. He added that…
Read MorePR: Monarch Blockchain Corporation Now Supports Bitcoin Cash in Monarch Wallet
Monarch Wallet Update Brings Bitcoin Cash (BCH) Support In-App The Monarch Wallet now supports Bitcoin Cash (BCH). Users can now store, send, and receive BCH in-app. Qualified Users Can Earn Interest & Purchase BCH in-app using their Credit Card. Monarch Wallet Update adds Bitcoin Cash (BCH) to its list of over 1900 supported cryptocurrencies. Users can now Store, Send, and Receive BCH with Monarch’s Decentralized Universal Crypto Wallet. Monarch Blockchain Corporation’s latest update to the Monarch Wallet brings support for Bitcoin Cash (BCH) in-app. Users can now store, send and…
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