News

US regulatory agency FinCEN released new guidance on whether certain crypto businesses are regulated as money services businesses. Those who qualify fall under the scope of the agency and must comply with (sometimes costly) regulations that clash with user privacy. FinCEN (Financial Crimes Enforcement Network), a bureau of the US Department of Treasury which combats […]

The attackers that stole over $41 million in Bitcoin from Binance have been erratically moving the funds from one address to another. However, as of May 9th, all of the funds have been consolidated into just seven addresses, each one holding around 1,000 bitcoins. Bitcoin stolen in Binance hack moved to new addresses One of the […]

An ongoing investigation into iFinex Inc. seems to have caused an exodus of traders out of Bitfinex. An increasing number of users report issues with withdrawing funds from the platform. Moreover, approximately $430 million worth of Bitcoin and Ethereum have exited the exchange’s cold wallets. Funds stuck on Bitfinex On Apr. 25, 2019, the attorney general […]

One of the most anticipated updates to Bitcoin’s scripting capabilities, Taproot, could soon see a roll-out on the Bitcoin network. First proposed in 2018, the update would expand the network’s smart contract flexibility and offer unprecedented privacy, enabling even the most complex smart contracts to be virtually indistinguishable from regular transactions. Solving the problem of […]

OneCoin, a controversial cryptocurrency issuer accused of running a $4 billion pyramid scheme, has been sued by a former investor over her losses. A request was also made for class-action status to be granted for the suit to include other plaintiffs who say they were scammed. Controversial crypto company threatened with class action lawsuit A […]

Over 34 million EOS worth $167 million was permanently removed from circulation. The move is part of an initiative to drastically lower the inflation rate on the protocol from 5 to 1 percent. On July 31, 2018, 15 or more of EOS’s 21 block producers passed an initiative to burn $167 million EOS sitting idle […]

Facebook updated its advertising policy to once again allow cryptocurrency-related ads. Facebook announced in a blog post today that it will once again allow advertising related to cryptocurrency and blockchain. Previously, only a limited number of pre-approved advertisers were permitted to run crypto-related ads. “While we will still require people to apply to run ads […]

The world’s largest cryptocurrency exchange, Binance, has suffered a hack on May 7th where it lost over $40 million in Bitcoin. The exchange’s CEO, Changpeng Zhao, considered pursuing a rollback of the Bitcoin blockchain, which sparked mass outrage on social media and was followed by a drop in Binance’s BNB coin. Binance Suffers Large Scale Security […]

Zhao Dong, one of China’s biggest OTC traders, recently published a marketing document detailing iFinex Inc. plans to conduct an initial exchange offering (IEO), aiming to raise $1 billion. The move follows a probe led by the attorney general of the State of New York, which revealed the apparent loss of $850 million in funds […]

The next version of Ethereum, which uses Casper proof-of-stake, is live on the Prysm testnet. The public release marks another major step towards Ethereum 2.0, which its developers say will bring greater security, scalability, and decentralization to the network. On May 6, Prysmatic Labs, one of nine independent teams responsible for building Ethereum 2.0 clients, […]