Monday, October 29, 2018

MapleChange / Crypto Drop / Coinbase Layoffs / Bitcoin Stablecoin

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$BTC (1:21 p.m. EST): $6,345.96 (-2.03%) // 90-day high: $8,209.07 // 90-day low: $6,253.11/ / More

$BCH (1:21 p.m. EST): $417.76 (-4.62%) // 90-day high: $844.12// 90-day low: $417.76 // More

$ETH (1:22 p.m. EST): $197.29 (-3.65%) // 90-day high: $531.53 // 90-day low: $171.58 // More

$LTC (1:22 p.m. EST): $49.28 (-4.95%) // 90-day high: $107.31 // 90-day low: $49.28 // More

$XRP (1:22 p.m. EST): $0.44 (-3.58%) // 90-day high: $0.57 // 90-day low: $0.22 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. MapleChange, a Canadian bitcoin exchange, claims that hackers stole $6 million in cryptocurrency. However, many in the cryptocurrency community believe that the exchange is lying about the hack as part of an elaborate exit scam. MapleExchange deleted its web presence after announcing the hack, including all of its social media accounts. It only reappeared after Internet sleuths posted the owner's address in Edmonton. –FINANCE MAGNATES

MapleChange claims hack; users not so sure
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2. The top seven cryptocurrencies by market cap were all down early Monday. Litecoin and tron which each down about 6 percent, while bitcoin, ethereum, and XRP also saw quick drops within a little less than two hour's time. Overall, the entire cryptocurrency market has lost about $6 billion of value on the day. –COINGAPE

Cryptocurrencies see red on Monday morning
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3. Coinbase has reportedly laid off 15 employees in a move to centralize the company's customer support, compliance and fraud departments. The cuts come after Coinbase was valued at more than $8 billion ahead of its IPO. Most of the cuts were in the decentralized remote support teams that were utilized by Coinbase to provide customer support. "People here are pretty upset about it, and so far senior leadership is handling communications poorly," an unnamed source within the company told Yahoo. –AMB CRYPTO

Coinbase lays off 15 employees
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4. BitGo will develop a new ethereum-based token that will be backed with bitcoin. Known as Wrapped Bitcoin, the token will be able to be used in a number of ways: Collateral for stablecoins, payments, and smart contracts within the ethereum ecosystem. BitGo will make sure every bitcoin will be accounted for on a dashboard displaying addresses and balances. –COIN TELEGRAPH

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5. Software engineer Pierre Rochard highlighted a plugin that lets users sent bitcoin on Microsoft Excel. –ETHEREUM WORLD NEWS

6. Bitcoin risks reporting a yearly loss as it nears its 10th birthday. –COINDESK

7. Bitcoin's volatility index fell to its lowest since December 2016. –HACKED

8. Noted developer Jimmy Song believes bitcoin will ultimately help the world more than governments and NGOs. –AMB CRYPTO

9. France's Financia Business School will accept bitcoin for tuition. –BITCOIN.COM

10. Yahoo argues that litecoin, not bitcoin, will truly benefit from the Lightning Network because of the increase in "atomic swaps" between chains. –YAHOO

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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