Everybody’s Staking But Who’s Using Proof of Stake Blockchains?

The primary use case for staking blockchains is staking. That is their raison d’être, and thousands of cryptocurrency holders have utilized this provision to increase their holdings by earning staking rewards. As the total amount of staked tokens trends towards 80% for some blockchains, however, it raises questions as to what other utility these chains provide. Also read: The Fallout From Onecoin’s Ponzi Scheme Continues to Impact Investors Two Thirds of All Staking Coins Are Locked Up The total market cap of all Proof of Stake (PoS) coins stands at…

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Indian Prime Minister Modi Awards Young Entrepreneur for Cryptocurrency App

India’s Prime Minister Narendra Modi has awarded a young entrepreneur for her cryptocurrency price tracking application while the government is still deliberating on the country’s crypto policies. News.Bitcoin.com caught up with the award recipient to find out more about her app. Meanwhile, the Reserve Bank of India (RBI) is being challenged in the supreme court regarding its crypto action. Also read: Regulatory Roundup — New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies Modi Awards Creator of Crypto App While the Indian government is deliberating on whether…

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BCH Community Leaders Bitcoin.com and Jonald Fyookball Clarify Positions on Funding Proposal

Since Btc.top founder Jiang Zhuoer revealed an infrastructure funding proposal from five major mining pools last week, which would fund BCH devs via redirection of 12.5% of BCH coinbase rewards, the Bitcoin Cash community has been understandably bustling with debate, discussion, and suggestions. Reactions have ranged from calling the move a “tax” that is incongruous with the foundational values of bitcoin, to support and ideas on how to best implement the plan. While the inundation of opinion and emotion has been noisy, a few prominent community leaders and groups with…

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Data Shows $25 Billion Worth of Bitcoin and Ether Held by Seven Crypto Exchanges

On January 3, 2020, a small group of crypto enthusiasts celebrated the second annual Proof-of-Keys day with hopes to get people to withdraw funds from centralized digital currency exchanges. However, exchanges holding massive amounts of BTC only saw their reserves grow larger and data shows that Coinbase now holds 1 million BTC ($8.4 billion). Crypto users are still keeping large sums of digital asset holdings on trading platforms despite the fact that 2019 saw the most exchange hacks in one year over the last decade. Also read: The Fallout From…

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Companies Keep Flocking to Swiss Crypto Valley, Over 1,000 Jobs Added in a Year

Crypto Valley, a fintech-friendly region centered on the canton of Zug, has been expanding to other parts of Switzerland and neighboring Liechtenstein. Despite all the challenges facing the blockchain industry, favorable regulations and improving access to banking and legal services are attracting more and more crypto companies. Their number has increased for a third consecutive year and many new jobs have been created. Also read: Leading Swiss Stock Exchange Offers 12 Crypto Exchange-Traded Products With One That Shorts Bitcoin More Than 800 Crypto Firms Based in Switzerland and Liechtenstein Almost…

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The Fallout From Onecoin’s Ponzi Scheme Continues to Impact Investors

In late 2019, the remnants of multi-level Ponzi scheme Onecoin crumbled. However, Onecoin’s founder, dubbed the ‘crypto queen,’ Ruja Ignatova, remains on the run and law enforcement haven’t caught up with her yet. Moreover, police are investigating two churches in New Zealand that allegedly have links to the Onecoin operation and founders. Also read: Onecoin Websites Suspended as the $4 Billion Ponzi Crumbles After Onecoin Operations Implode in Cairns, Investors Accept They Were Scammed In 2014, Ruja Ignatova, Sebastian Greenwood, and Konstantin Ignatov launched a project called Onecoin and allegedly…

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Leading Swiss Stock Exchange Offers 12 Crypto Exchange-Traded Products With One That Shorts Bitcoin

Switzerland’s principal stock exchange, SIX Swiss Exchange, now has 12 cryptocurrency exchange-traded products listed. The latest addition, the 21shares Short Bitcoin, allows investors to profit from falling prices of the digital currency. Other listed crypto products include those that track the price movements of BCH, BTC, ETH, XRP, BNB, and tezos. Also read: Regulatory Roundup — New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies Newest Addition: An Inverse Product SIX Swiss Exchange has listed an inverse bitcoin exchange-traded product (ETP) issued by fintech company Amun AG.…

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Iran Issues More Than 1,000 Cryptocurrency Mining Licenses

The Iranian government has reportedly issued more than 1,000 licenses for cryptocurrency mining since it began regulating the industry. A number of large mining farms have set up in the country, but high electricity tariffs have kept many small investors away. Also read: Regulatory Roundup — New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies 1,000+ Licenses Granted to Miners An official with Iran’s ICT Guild Organization, Amir Hossein Saeedi Naeini, has revealed the state of the country’s cryptocurrency mining industry, the Financial Tribune reported Friday. In…

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Bitpay Users Can Now Purchase Crypto With Fiat In-App

On January 23, the cryptocurrency payment firm Bitpay announced it will be allowing customers to purchase digital assets using the Bitpay platform. The Atlanta-based company partnered with fiat-to-crypto payment processor Simplex to offer the crypto purchasing experience. Bitpay says the latest feature will provide an “all-in-one solution” for cryptocurrency-related activities. Also Read: Bitcoin.com Partners With Mecon Cash, Enabling Withdrawal at ATMs Across South Korea Bitpay App Now Allows Crypto Purchases Bitpay has been a leading cryptocurrency payment processor since the firm was founded in 2011 by Stephen Pair and Tony…

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Alexander Vinnik Accused of Laundering Billions Through BTC-e Extradited to France

Alexander Vinnik, the Russian-born IT specialist who spent over two years in detention in Greece, where he was arrested on a U.S. warrant, is now in Paris. The alleged BTC-e operator, suspected of laundering at least $4 billion through the now defunct crypto exchange, has been handed over to France after the Greek judiciary turned down a plea against his extradition. Also read: Russian Opposition Leader Navalny Raises $700,000 in Crypto Donations From a Greek Hospital to a French On Thursday, law enforcement officials took Alexander Vinnik from a Greek…

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