EXCHANGES

Hackers Move Another $800K in BTC Stolen From the 2016 Bitfinex Breach

[ad_1] Another $800,000 worth of bitcoin from the Bitfinex hack of four years ago has been moved to an unknown wallet. Whale Alert reports that hackers transferred 77.64 bitcoin (BTC) on Tuesday, which amounts to $797,000 at the time the alert was issued. The thieves last moved about $255,000 or 28.4 BTC on May 22, in deals that appear timed to coincide with every spike in the price of bitcoin.
Business

A16z Expects More Libra-Like Projects While Money Goes Digital in 10 Years

[ad_1] Andreessen Horowitz, or a16z, expects more Libra competitors to enter the space, seeing “an opportunity for a new financial network."As the venture firm’s general partner Katie Haun told Bloomberg in an interview published June 1, a16z expects money to become largely digital in 10 years, akin to music, books and other things that have moved online.Haun clarified that platforms like Venmo and PayPal are not a necessarily accurate example
Business

Fireblocks Launches Network for Institutions to Transfer Assets

[ad_1] Institutional digital asset security specialist Fireblocks launched its Asset Transfer Network on June 2.The open network enables institutions to securely find and connect with their peers, to transfer assets on-chain while streamlining settlement and post-trade operations.Over 55 institutions and 26 exchanges are active on the network at launch, including liquidity providers, exchanges, brokers, market makers and custodians.More of the same, but betterFor over a year now, Fireblocks has been
Business

Microsoft, Nasdaq and Others to Set Global Tokenization Standards

[ad_1] Microsoft’s principal architect Marley Gray and Enterprise Ethereum Alliance’s former director Ron Resnick today launched the InterWork Alliance (IWA), a non-profit organization aimed at bringing global standards for the token-based ecosystem.At launch, the IWA has more than 28 blockchain, technology, and financial organizations from around the world, including Microsoft, Chainlink, Hyperledger, IBM, Nasdaq, Accenture, and others.The IWA indicates that startups presently working on tokenized ecosystems are mostly focusing on
BLOCKCHAIN

Elrond Invites Hackers to Stress Test Its Blockchain Network

[ad_1] Blockchain firm Elrond has invited hackers to attack its network during the upcoming incentivized stress test.According to an announcement on June 2, the upcoming Elrond incentivized stress test will include a variety of different attacks on the network. Elrond CEO Beniamin Mincu explained to Cointelegraph:"Anything that takes the network down is allowed, as long as it's not breaking the law or social privacy of participants. So DDoS-ing, hijacking rewards,
Business

$1.4B in Crypto Stolen in First Five Months of 2020, Says CipherTrace

[ad_1] Researchers say 2020 is on track to become a record-breaking year for cryptocurrency-related thefts, hacks and fraud.Digital asset intelligence firm CipherTrace released a report on June 2 revealing that in the first five months of this year so far, the value of ill-gotten funds siphoned through cryptocurrency crimes has reached almost $1.4 billion.This makes it possible that the amount of funds lost to bad actors in 2020 will outstrip
Business

Buterin Says Ethereum’s Layer-Two Scaling Development ‘Basically’ Succeeded

[ad_1] Ethereum co-founder Vitalik Buterin said that the blockchain’s layer-two scaling initial deployment has “basically” succeeded.In a June 1 tweet, Buterin claimed that most of the initial work on Ethereum’s second-level scalability solutions is nearly complete. To back his claim, Buterin linked to a tweet by Ethereum researcher Philippe Castonguay who listed a number of relevant developments and second-layer Ethereum scalability solutions that have recently launched.Castonguay noted that blockchain development firm
EXCHANGES

Fund Manager Thinks Bitcoin Is Primed to Rip Higher, Even After $1,000 Move

[ad_1] It’s been an explosive past 24 hours for the Bitcoin market. The leading cryptocurrency traded as high as $10,429 on Monday, surging higher as dozens of millions worth of short positions were liquidated on BitMEX. Prices have since retraced since the start of this move. BTC trades at $10,100 as of the time of this article’s writing. Futures funding rates are now multi-month highs, showing that longs are potentially
Business

US Government Puts Out $5 Million Bounty for Petro Supervisor

[ad_1] The United States government has put Joselit Ramirez Camacho, the Venezuelan government’s superintendent of the Petro cryptocurrency, on its Most Wanted List.According to a June 1 statement, the Homeland Security Investigations branch of the U.S. Immigration and Customs Enforcement agency issued a bounty for up to $5 million for any information that would lead to the capture of Petro’s supervisor. This was done following an investigation by the HSI’s
Business

Cryptocurrency Firms Now Recognized as Money Service Businesses in Canada

[ad_1] Cryptocurrency exchanges and payment processors are now legally recognized as Money Service Businesses (MSB) within Canada.June 1 saw the enactment of amendments to Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act that were passed in June 2019 to address holes in the then-existing framework.Candian crypto firms must now report all transactions exceeding 10,000 Canadian dollars ($7,403), and register and comply with the Financial Transactions and Reports Analysis