 |
MINING BID: Blockstream has launched a colocation mining service, in part aimed to counter the increased centralization of the crypto mining industry, and already counts the Fidelity Center for Applied Technology and LinkedIn founder Reid Hoffman as customers. On Thursday, the bitcoin and blockchain technology firm announced a new mining wing, Blockstream Mining, along with a BetterHash-based mining pool, Blockstream Pool. Led by cryptographer Dr. Adam Back, Blockstream is best known for its bitcoin-sidechain ecosystem, the Liquid Network. Full story
HACK DETAILED: Cryptocurrency exchange Coinbase has described how it was targeted by, and foiled, “a sophisticated, highly targeted, thought out attack” aimed to access its systems and presumably to make off with some of the billions of dollars’ worth of cryptocurrency it holds. In an Aug. 8 blog post that sets out in technical detail how the plot unfolded and how the exchange countered the attempted theft, Coinbase said the hackers used a combination of means to try and hoodwink staff and access vital systems – methods that included spear phishing, social engineering and browser zero-day exploits. Full story
QUONTIC LEAP: A small bank in New York City has started doing business with cryptocurrency firms, joining the very short list of U.S. financial institutions to embrace the sector. Quontic Bank opened a checking account for a bitcoin ATM company a few weeks ago and is in the process of completing a contract to deliver banking services to another crypto startup. The bank wouldn’t name either client. Quontic CEO Steven Schnall wouldn’t say how big he wants Quontic’s crypto business to be, but he claimed the pending contract “could impact millions of Americans.” Full story
TOKEN UNLOCKED: Overstock is opening up trading on its security token market, tZERO, to all comers. Retail investors will be able to trade on the platform starting Aug. 12, tZERO CEO Saum Noursalehi told CoinDesk. At that point, the one year lock-up period for tZERO’s 2018 security token offering (STO) will pass. While the platform went live in January, only accredited investors – wealthy individuals and institutions – have been allowed to trade on it until now. tZERO is currently also working to acquire a New York Department of Financial Services virtual currency license, Noursalehi said. Full story
ORWELLIAN MOVE? Fifteen nations are planning to set up a system to monitor cryptocurrency transactions alongside the Financial Action Task Force (FATF), a Friday report indicates. According to Nikkei Asian Review, the aim is to stem the movement of funds for illicit purposes, such as money laundering and funding of terrorism, by collecting and sharing transaction data, as well as the personal information of cryptocurrency users. FATF would manage the project, which is slated to go live within several years. Full story |
|
|
|
|
 |
| STALEMATE: Bitcoin's indecisive price action over the last few days, and the resulting "double inside bar" candlestick pattern, have established Wednesday's high of $12,145 as the level to beat for the bulls. A break above that level, if confirmed, would open the doors to a retest of recent highs above $13,000. However, $12,000 has been proving a tough nut to crack for the bulls. Full story |
|
|
|
|
| | INSURANCE COIN? Insurance giant Allianz is developing a blockchain token-based ecosystem to facilitate global insurance payments, according to a piece from Forbes. A spokesperson for the firm told the news source that Allianz is continuing its exploration of blockchain technology “to simplify and accelerate cross-border insurance payments for its corporate customers.” They said the “token-based electronic payment system to allow for frictionless, transparent and instantaneous money transfers" is in the later stages of development. |
WHO WON #CRYPTOTWITTER
 |
|
| | | | | | |
