Binance Hacked / Bitfinex Confirms IEO / Binance AMA / Facebook Crypto Ban

Inside Bitcoin presented by Vettery.

Presented by Subscribe | View in browser $BTC (2:35 p.m. EST): $5,925.69 (-0.02%) // 90-day high: $5,988.18 // 90-day low: $3,391.02 / / More… $BCH ABC (2:35 p.m. EST): $283.47 (-1.38%) // 90-day high: $342.87// 90-day low: $115.18 // More… $ETH (2:35 p.m. EST): $168.77 (-2.46%) // 90-day high: $184.38 // 90-day low: $104.19 // More… $LTC (2:35 p.m. EST): $73.81 (-1.89%) // 90-day high: $97.50 // 90-day low: $33.01 // More… $XRP (2:35 p.m. EST): $0.30 (-0.22%) // 90-day high: $0.37 // 90-day low: $0.28 // More…       1. Hackers stole $40 million in bitcoin from the cryptocurrency exchange Binance. The hackers stole 7,047.2 bitcoin from an internet-connected hot wallet on the exchange, using sophisticated phishing techniques and deployed viruses to obtain API keys to access accounts. No customer accounts were affected and Binance stated that it will cover all of the losses using funds from its reserve accounts. Less than 2% of the exchange's crypto holdings were held in a hot wallet with the rest of the funds being in an offline cold wallet. -BUSINESS INSIDER       2. Embattled cryptocurrency exchange Bitfinex is planning a $1 billion Initial Exchange Offering. Bitfinex, which was recently accused by the New York Attorney General of misappropriating $850 million, is planning to sell $1 billion worth of its own utility token. Investors of the token will be able to use it for various exchange-based activities such as lower withdrawal and deposit fees. A portion of the money raised - as stated in this  whitepaper - will be used to cover the $850 million deficit that Bitfinex accrued. -COIN TELEGRAPH       A MESSAGE FROM VETTERY Hiring moves fast—stay ahead of the game with Vettery's 2019 Tech Salary Report As a tech leader, you're used to a day-to-day in flux. You're focused on the big picture—roadmapping, goals, and maintaining your vibrant company culture—time is money, as they say. So let us streamline things. Want the tools to help you achieve your goals and hire talent? Vettery has you covered. 3. From The Forums: The founder and CEO of Binance, CZ Zhao, hosted a live (AMA) after Binance was hacked for $40 million worth of bitcoin. Many questions that rolled in were users asking hastily if their funds were safe to which CZ assured that no user accounts were affected. Here are some highlights from CZ's AMA: CZ suggests that all users change their 2FA logins. No deposits or withdrawals will be accepted until they are satisfied the system is secured which could take up to a week. Margin trading is rolling out "very soon." Binance may list stablecoins in the future.  Binance Chain will eventually be open-source as well as Binance's DEX.       4. Facebook reopened blockchain advertising on its platform after completely banning cryptocurrency and blockchain related ads. In January 2018, Facebook implemented this ban to protect users from ICO scams. In June, the social giant relaxed its cryptocurrency ad ban and allowed some ads to be shown after the ads were reviewed by an internal team. With this complete reversal, Facebook will allow companies to advertise "blockchain technology, industry news, education or events related to cryptocurrency" without needing to go through a pre-approval process. These lightened restrictions come as Facebook nears the impending launch of its own cryptocurrency. -TECH CRUNCH       A MESSAGE FROM BRAVADO TRADING Is the Bitcoin bottom in? Download the FREE Analysis Navigating the crypto space is tough, but our team of traders and investors can do a lot of the heavy lifting for you when you join our community. Start by downloading our free Bitcoin bottom analysis, detailed with charts & other imagery and see exactly what we predict Bitcoin is going to do. 5. In an interview with Yahoo Finance, Paypal Cheif Financial Officer John Rainey, said that the peer-2-peer money transfer service is in no rush to dive into blockchain and cryptocurrency. -FX STREET 6. In a joint effort, the FBI and the Israeli police arrested two for running a bitcoin-enabled dark web listing website. -COIN TELEGRAPH 7. Bitcoin fees jumped 250% month-over-month from March to April as on-chain volume increased with miners collecting $14 million in fees alone. -DIAR 8. The SEC's Hub for Innovation and Financial Technology will host a cryptocurrency and blockchain forum at the end of May. -FORBES 9. Prince Charles said blockchain was a "very interesting development" after being asked by a reporter what he thought about bitcoin, cryptocurrency, and blockchain. -Z CRYPTO 10. Announcement: We're excited to introduce the latest Inside newsletter: Inside Cycling. Sign up here for news on competitions, gear, equipment and all the latest from the world of cycling.        Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny. Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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