Wednesday, November 28, 2018

Bitcoin bounces back above $4,000 / Blockchain-based media co. flounders / Iranians linked to bitcoin ransomware scam

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$BTC (12:45 p.m. EST): $4,243.51 (+13.16%) // 90-day high: $7,382.19 // 90-day low: $3,604.14 / / More

$BCH ABC (12:45 p.m. EST): $190.84  (+8.95%) // 90-day high: $703.41// 90-day low: $157.32 // More

$ETH (12:45 p.m. EST): $119.72 (+12.14%) // 90-day high: $365.71 // 90-day low: $98.42 // More

$LTC (12:45 p.m. EST): $35.04 (+16.98%) // 90-day high: $74.80 // 90-day low: $27.23 // More

$XRP (12:45 p.m. EST): $0.3894 (+11.63%) // 90-day high: $0.61 // 90-day low: $0.26 // More

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

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1. The price of bitcoin bounced back above $4,000 in overnight trading, regaining 13 percent of its value and counting. Fears proliferated earlier in the week that bitcoin would finish the month of November down from the previous month, marking a four-month downward trend that had not occurred since late 2014. The rally now has cryptocurrency trader Crypto Rand calling this a "daily bullish hammer in play" that could signal a full reversal. As of this writing, the price is over $4,200, and it's spurred rallies for other cryptocurrencies as well. – CCN

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2. Plans to roll out over a thousand bitcoin ATMs in Argentina over the next year appear to be on hold indefinitely. US-based Odyssey Group's earlier announced ambitious plan to put 150 crypto ATMs in Buenos Aires by year-end this year, and up to 1,600 in Argentina by the end of 2019, don't appear to be moving forward. Bitcoin has been proposed as a solution for Argentina's ongoing inflation woes. As of now, though, there are only three bitcoin ATMs in the country, and Odyssey has installed none. – THE NEXT WEB

Bitcoin ATMs in Argentina appear delayed
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3. Employees at Civil Media Company, which promised to reinvent journalism by creating 1,000 cryptocurrency-based media outlets, are saying they are still waiting to be paid. Following a fair amount of hype both internally and externally about the potential value of CVL tokens, which were intended to form a portion of staff journalists' compensation, the initial token offering in October had to be canceled due to lack of interest. (The New York Times discussed Civil's perhaps misguided blockchain-based model earlier this month.) One employee who has left Civil tells Coindesk that he was out about 70 percent of his salary over five months and was still waitng to see the money. – COINDESK

This item also appeared on Inside Media, which you can subscribe to here.

Crypto-based media company flounders
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4. Two Iranian nationals have been publicly identified and sanctioned by the US Treasury Department's Office of Foreign Assets Control (OFAC) for their role in a bitcoin ransomware scam. In a first for the OFAC's Specially Designated Nationals list, the bitcoin addresses of the two men — Ali Khorashadizadeh and Mohammad Ghorbaniyan — have been listed alongside other identifying information like their physical addresses. The men have been linked to the SamSam ransomware plot, which has hit more than 200 victims, and the men are believed to have facilitated bitcoin transactions for the malware's creators. – COINDESK

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5. What should we credit the bitcoin rally to? There were a flurry of positive developments this week including Tuesday's announcement of bitcoin futures coming to the Nasdaq. – CRYPTOGLOBE

6. Before the SEC will consider approving its first bitcoin exchange-traded fund (ETF), SEC chair Jay Clayton says the issue of market manipulation has to be addressed. – BITCOIN NEWS

7. Goldman Sachs and Morgan Stanley have just become the first major investment firms to employ CLSnet, the two-year-old blockchain-based payment netting service by IBM and CLS. – COINDESK

8. Coinsource, the crypto ATM network, is expanding into upstate New York. – BITCOIN NEWS

9. Wallet provider and major American crypto exchange Coinbase has just launched an "over-the-counter" (OTC) trading desk for institutional investors. – CHEDDAR

10. Crypto makes a cameo in the new animated movie "Ralph Breaks the Internet" via a logo for the SAFE network. – CCN

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Written and curated by Jay Barmann, who also edits Inside Social and Inside Beer, and spent three and a half years as Editor in Chief of SFist.com, the San Francisco branch of Gothamist. As a freelance writer he has also written for SF Weekly, 7x7, Curbed SF, Eater SF, New York Magazine, and San Francisco Magazine, among others, and in his spare time he edits the blog OpeningNightSF. Follow him on Instagram at @conflator or Twitter at @jaybarmann.

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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