Korean Crypto Exchange Executives Fake Trading Volumes, Earn Prison Sentences

Korean Crypto Exchange Executives Fake Trading Volumes, Earn Prison Sentences

Image: Shutterstock Two major executives of Komid, a cryptocurrency exchange platform based in South Korea, have been sentenced to prison, according to a report by local Korean news outlet Blockinpress. The two individuals were convicted of falsifying trading volumes on the exchange. Choi Hyunsuk, CEO of Komid, is one of the indicted individuals. He was… Continue reading Korean Crypto Exchange Executives Fake Trading Volumes, Earn Prison Sentences

$3.2 Trillion in Bitcoin Payments Processed in 2018: Is the Cryptocurrency a Better Version of Gold?

$3.2 Trillion in Bitcoin Payments Processed in 2018: Is the Cryptocurrency a Better Version of Gold?

Image: Shutterstock By CCN.com: Throughout 2018, more than $3.2 trillion worth of Bitcoin payments were processed on the public blockchain network. The high on-chain transaction volume of the dominant cryptocurrency has demonstrated the efficiency of the asset as a cross-border payment method and as an alternative to existing settlement systems for international payments. Is Bitcoin… Continue reading $3.2 Trillion in Bitcoin Payments Processed in 2018: Is the Cryptocurrency a Better Version of Gold?

Digital Garage teams up with Blockstream to develop blockchain financial services in Japan

Digital Garage teams up with Blockstream to develop blockchain financial services in Japan

The global crypto market may have tanked last year, but notable names have joined forces to develop Bitcoin and blockchain financial services in Japan, which has emerged as one of the world’s most crypto-friendly markets. Blockstream, a blockchain startup founded by Bitcoin contributors, announced this week that it has launched a joint venture in Japan… Continue reading Digital Garage teams up with Blockstream to develop blockchain financial services in Japan

Tax Nightmare: 10,000 Bitcoin Trades Net Swedish Man Nearly $1 Million in Taxes

Tax Nightmare: 10,000 Bitcoin Trades Net Swedish Man Nearly $1 Million in Taxes

A Swedish bitcoin trader faces a mammoth tax bill due to the large number of transactions he executed. | Source: Shutterstock By CCN.com: Linus Dunker, a Swedish crypto trader, was shocked to receive a bill for almost $1 million from the Swedish Tax Agency, claiming that the tax demand is “unreasonable.” The case is one… Continue reading Tax Nightmare: 10,000 Bitcoin Trades Net Swedish Man Nearly $1 Million in Taxes

Crypto is Worthless, Fails Basic Financial Tests: Bank of England Adviser

Crypto is Worthless, Fails Basic Financial Tests: Bank of England Adviser

Huw van Steenis alleges that crypto is worthless since it fails the test of money. | Source: Bloomberg/YouTube By CCN.com: Legacy banks are not worried about crypto because it has no value and fails the fundamental tests of financial services. That’s the assessment of Huw van Steenis, the senior adviser to Bank of England Governor Mark… Continue reading Crypto is Worthless, Fails Basic Financial Tests: Bank of England Adviser

‘Big Bitcoin Heist’ Ringleader Jailed for Massive Crypto Mining Rig Theft

‘Big Bitcoin Heist’ Ringleader Jailed for Massive Crypto Mining Rig Theft

The “Big Bitcoin Heist” perpetrators have finally been brought to justice in Iceland. | Source: Shutterstock By CCN.com: Suspects in the “Big Bitcoin Heist” of 2018 have been sentenced to various prison terms based on their level of involvement in the much-publicised theft of more than three-quarters of a million dollars worth of crypto mining… Continue reading ‘Big Bitcoin Heist’ Ringleader Jailed for Massive Crypto Mining Rig Theft

Please Don’t Hurt Us! BIS Report Proves Central Bankers Fear Bitcoin

Please Don’t Hurt Us! BIS Report Proves Central Bankers Fear Bitcoin

A New Bank for International Settlements (BIS) report betrays that central bankers are scared of bitcoin. | Source: Shutterstock By CCN.com: For years, the cryptocurrency market has been buffeted with projections and predictions of doom. We are constantly told that any day now, bitcoin and all its progeny will collapse into the nothingness from whence… Continue reading Please Don’t Hurt Us! BIS Report Proves Central Bankers Fear Bitcoin

Bitcoin Price Could Crack $10 Million, Become New Gold Standard: Asset Management Firm

Bitcoin Price Could Crack $10 Million, Become New Gold Standard: Asset Management Firm

Asset manager Lucid makes the case that the bitcoin price could one day rise as high as $10 million. | Source: Shutterstock By CCN.com: Throughout the 2017 crypto market bull run, bitcoin price predictions kept the crypto hype train fat and happy. Whether it was eccentric ICO promoter John McAfee promising to emasculate himself if… Continue reading Bitcoin Price Could Crack $10 Million, Become New Gold Standard: Asset Management Firm

Why Crypto is En Route to the Longest Bear Market in History

Why Crypto is En Route to the Longest Bear Market in History

Image: Shutterstock By CCN.com: The crypto market is en route to experiencing the longest bear market in its 10-year history. As Ran Neuner, the host of CNBC’s Crypto Trader said, if the latest bear market lasts for another month, it will surpass the 420-day correction the crypto market experienced from 2014 to 2015. “If this… Continue reading Why Crypto is En Route to the Longest Bear Market in History

Dow Futures & Bitcoin Look Shaky as US Celebrates Market Holiday

Dow Futures & Bitcoin Look Shaky as US Celebrates Market Holiday

Neither Dow Jones futures nor the bitcoin price are inspiring confidence as the markets enter a new week. | Source: Shutterstock By CCN.com: The US stock market is closed today in observance of Martin Luther King Jr. Day, but Dow futures pointed south after China’s growth fell to a nearly three-decade low. The cryptocurrency market,… Continue reading Dow Futures & Bitcoin Look Shaky as US Celebrates Market Holiday

Tron CEO Justin Sun Wants to Prove Crypto Is Not a Scam: Hires Former SEC Official

Tron CEO Justin Sun Wants to Prove Crypto Is Not a Scam: Hires Former SEC Official

Image: Twitter/Justin Sun By CCN.com: Tron founder Justin Sun is out to prove that crypto is not a scam ― despite hyperbolic emotional protestations by haters that it is. To this end, Sun hired a former SEC employee to be the first compliance director for Tron, a blockchain platform for supporting smart contracts and high throughput.… Continue reading Tron CEO Justin Sun Wants to Prove Crypto Is Not a Scam: Hires Former SEC Official

Number of Bitcoin ATMs Hits 4,000 Globally: Why is it Growing So Rapidly?

Number of Bitcoin ATMs Hits 4,000 Globally: Why is it Growing So Rapidly?

By CCN.com: According to a report released by ValueWalk, the number of Bitcoin ATMs worldwide has surpassed 4,000 and the market is still growing rapidly. The increase in the number of Bitcoin ATMs comes in a period during which cryptocurrency businesses are prioritizing compliance, dealing with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.… Continue reading Number of Bitcoin ATMs Hits 4,000 Globally: Why is it Growing So Rapidly?

UAE, Saudi Arabia Launch Cryptocurrency Pilot for Cross-Border Payments

UAE, Saudi Arabia Launch Cryptocurrency Pilot for Cross-Border Payments

Image: Shutterstock By CCN.com: UAE and Saudi Arabia — two countries that have the world’s second-largest combined sovereign wealth funds — have launched their pilot cryptocurrency. According to UAE’s official news agency, Emirates News Agency, the Saudi-Emirati cryptocurrency is one of the seven initiatives that will be implemented in both countries. Saudi-Emirati Cryptocurrency Restricted to Banks Only… Continue reading UAE, Saudi Arabia Launch Cryptocurrency Pilot for Cross-Border Payments

Moonday Mornings: Dark Web Bitcoin transactions doubled in 2018

Moonday Mornings: Dark Web Bitcoin transactions doubled in 2018

If you didn’t notice, today is Monday, January 21, which means two things. One, it’s time for another Moonday Mornings; and two, it’s the most depressing day of the year – apparently. Goodthing we have a wrap-up of the weekend’s top cryptocurrency and blockchain news for you. Check it out: 1. A Swedish cryptocurrency trader… Continue reading Moonday Mornings: Dark Web Bitcoin transactions doubled in 2018

South Africa Establishes a Consultation Paper to Regulate and De-Anonymize Bitcoin Transactions

South Africa Establishes a Consultation Paper to Regulate and De-Anonymize Bitcoin Transactions

Image: Shutterstock The South African Reserve Bank has released a consultation paper to regulate cryptocurrencies in the region. However, the government is seemingly introducing banking-like features to the crypto-markets, going against the very ethos of what Bitcoin stands for. The bank chooses to call cryptocurrencies as crypto “assets” over the former term, deeming the distinction… Continue reading South Africa Establishes a Consultation Paper to Regulate and De-Anonymize Bitcoin Transactions

$5 Billion Wiped Out of Crypto: Bitcoin Below $3,500 Could Spell Trouble

$5 Billion Wiped Out of Crypto: Bitcoin Below $3,500 Could Spell Trouble

Image: Shutterstock By CCN.com: In the past 24 hours, the crypto market has experienced a slight decline in valuation from $224 billion to $219 billion as the Bitcoin price dropped to $3,500. Previously, traders said that a drop below the $3,500 mark could lead the price of Bitcoin to test key support levels in the… Continue reading $5 Billion Wiped Out of Crypto: Bitcoin Below $3,500 Could Spell Trouble

What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop?

What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop?

By CCN.com: In 2018, with the exception of Bitcoin and several other crypto assets, the majority of cryptocurrencies fell by more than 90 percent against the U.S. dollar. Executives in the crypto space, especially those leading new initiatives and businesses in the emerging industry, believe that the bear market has presented companies with positive opportunities… Continue reading What Are Crypto Executives Still Positive About After Massive 80% Bitcoin Drop?

Hacked Customer Data From World Leading Cryptocurrency Exchanges For Sale On The Dark Web?

Hacked Customer Data From World Leading Cryptocurrency Exchanges For Sale On The Dark Web?

Hacked KYC documents from top cryptocurrency exchanges are available on the Darknet. Image from Shutterstock. On a darknet market called “Dread,” a vendor going by “ExploitDOT” is attempting to sell user data from the know-your-customer (KYC) data top cryptocurrency exchanges ask for, required by most jurisdictions. According to data shared with CCN, the hacker has… Continue reading Hacked Customer Data From World Leading Cryptocurrency Exchanges For Sale On The Dark Web?

Indonesia’s First Billion-Dollar Unicorn Acquires Philippine Bitcoin Wallet

Indonesia’s First Billion-Dollar Unicorn Acquires Philippine Bitcoin Wallet

By CCN.com: On Jan. 18, after an unsuccessful attempt to enter the Philippines market earlier this month due to foreign ownership concerns, Go-Jek, a major Indonesian ride-sharing platform has announced a partnership between with Coins.ph, a local crypto wallet and payments platform. The Filipino firm is currently in the process of rolling out beta access to users in the… Continue reading Indonesia’s First Billion-Dollar Unicorn Acquires Philippine Bitcoin Wallet

Turkish Crypto Exchange Sistemkoin’s Disturbing Security Flaw Reveals Major Withdrawal Complaints

Turkish Crypto Exchange Sistemkoin’s Disturbing Security Flaw Reveals Major Withdrawal Complaints

Image via Shutterstock. By CCN.com: Turkish crypto exchange Sistemkoin had done $68 million in volume over the 24-hour period at time of writing. However, according to a report from a user and security researcher, there are significant security problems with the exchange. The exchange did over $10 million in Bitcoin trades alone. Source: coinmarketcap.comThere are two… Continue reading Turkish Crypto Exchange Sistemkoin’s Disturbing Security Flaw Reveals Major Withdrawal Complaints

Russia’s Not Buying Bitcoin, Dx.Exchange’s Shady Past, and Ethereum’s Hard Fork That Wasn’t: This Week in…

Russia’s Not Buying Bitcoin, Dx.Exchange’s Shady Past, and Ethereum’s Hard Fork That Wasn’t: This Week in…

From fake news about Russia buying Bitcoin to Ethereum’s hard fork that wasn’t, CCN breaks down the last week in crypto news. | Source: Shutterstock By CCN.com: This week in crypto saw several interesting developments as regard exchanges, exit scams, and at least one failed ICO-funded company in the form of Giga Watt. Crypto Media… Continue reading Russia’s Not Buying Bitcoin, Dx.Exchange’s Shady Past, and Ethereum’s Hard Fork That Wasn’t: This Week in…