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Bitfinex Exchange Reportedly Used Tether To Cover $850 Million Losses

The New York Attorney General’s Office has issued a stunning press release that officially announced a court order against cryptocurrency exchange Bitfinex’s parent company, iFinex, detailing violations against New York residents for alleged fraud. The allegations involve an apparent loss of $850 million by the exchange Bitfinex, that it attempted to surreptitiously cover with using…
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The Curious Case of QuadrigaCX

What was at one point the leading cryptocurrency exchange in Canada, QuadrigaCX has devolved into a tangled mess of lost user funds, creditor protection initiatives, and mystery surrounding the deceased founder and missing funds. Now, QuadrigaCX is officially transitioning into bankruptcy following a ruling by the Nova Scotia Supreme Court that transfers the exchange out…
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Bitcoin Mining Indicators Point to Potential Market Turnaround

Proof-of-work (PoW) is a fundamental component of Bitcoin that is critical to its long-term sustainability and capacity to create unforgeable costliness. The mining market subsequently functions as a marked indicator of the overall health and security of the network while also proving a useful metric from which to gauge Bitcoin’s spot price momentum. Besides the…
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Cosmos Launches Amid Interoperability Hype and Proof-of-Stake Hopes

Cosmos — the proclaimed ‘Internet of Blockchains’ — officially launched its main network hub, known as the Cosmos Hub, towards the end of last week. The launch is a significant event for the broader cryptocurrency industry, as it is not only one of the first full-scale proof-of-stake (PoS) consensus cryptocurrencies to go live, but it…
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The Endemic Problem of Wash Trading With Cryptocurrency Exchanges

One year has passed since Sylvain Ribes shed a spotlight on the extent of wash trading among major cryptocurrency exchanges, detailing his belief that more than $3 billion in volume in early 2018 was fabricated. Specifically, Ribes identified OKex as the primary culprit, responsible for nearly 93 percent of its volume non-existent. Since then, the…
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Blockstream Satellite Revealing the Potential of a Future Bitcoin Network

Bitcoin’s unveiling as a decentralized, and censorship-resistant form of currency for the digital era was revolutionary enough in itself. However, the emergence of some recent developments like Blockstream Satellite and propagating Bitcoin transactions via HAM radio have pushed the narrative towards science fiction. The potential of a diverse network topology for Bitcoin was covered by…
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The Controversy of Coinbase’s Acquisition of Neutrino

Coinbase — one of the largest crypto exchanges — recently acquired blockchain and broader software surveillance company Neutrino in what has turned into a highly polarizing event. The addition of Neutrino has sparked a #DeleteCoinbase trend on Twitter that has garnered notable traction over the weekend. The controversy stems from directly from the company Neutrino…
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Report on Bitmain Q3 2018 Losses Highlights Struggling Mining Industry

According to a recent analysis by Coindesk, Bitmain posted a $500 million loss in Q3 2018. Their conclusion was the result of insights they attained via an update to Bitmain’s IPO prospectus filing with the Hong Kong Stock Exchange (HKEX). Bitmain is the largest cryptocurrency mining firm, offering ASIC and GPU mining hardware and operating…
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Venezuela Presents Unique Bitcoin Case Study as LocalBitcoins Volume Reaches All-Time High

Venezuela has been undergoing massive hyperinflation under the Socialist regime of President Maduro, and economic conditions have reached destitute levels. Venezuela’s annualized inflation year-over-year from December 2017 to December 2018 was 1.7 million percent, rendering the native Bolivar currency effectively worthless. The endemic hyperinflation has caused millions of Venezuelans to flee the country amid restrictive…
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How MakerDAO is Redefining Secured Loans

MakerDAO is a decentralized autonomous organization (DAO) on the Ethereum blockchain that functions as a loan issuance platform via its stablecoin Dai. The platform is governed by a community of participants holding the MKR token and participate in decision-making that guides the platform’s parameters. Maker has been making waves over the last several months due…
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