Argentinian Bank Allows Cross-Border Payments with Bitcoin
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Bitcoin Magazine, 1/1/0001 12:00 AM PST Banco Masventas in Argentina announced via its Facebook page that it is introducing a new program that will allow customers to make cross-border payments using bitcoin. The institution has partnered with the Latin America–focused exchange startup Bitex — founded in 2014 — to potentially compete with SWIFT, a global, bank-owned messaging network. SWIFT, which stands for the Society for Worldwide Interbank Financial Telecommunication, is built to handle and process international bank payments. Unfortunately, the project has been suffering from security issues since it first entered the monetary arena. Banco Masventas is now the first financial establishment to base its cross-border payment system on the Bitcoin network. The website states that the service is set to enable international transfers to as many as 50 countries and that payments can be processed in 24 hours or less. Translated from their website, the service “allows you to reduce costs associated with international transfers, as there are no international banks [serving] as intermediaries.” The move was reportedly inspired by the bank’s goal to enhance its digital services and lower transaction costs. One of the establishment’s principal shareholders, José Dakak, stated that the bank is also looking to grow its list of international customers. “One of the actions was to contract Bitex as a strategic partner in the implementation of the Bitex platform for payments and collections operations for our clients abroad,” he explained. Dakak then added, “The customers will ask the bank to do an international payment, and the bank uses Bitex as a provider. For the customer, it’s transparent, they don’t touch, they don’t see the bitcoin. We are a provider for them, and they are not touching bitcoin.” Aside from accelerating transaction times, Bitex — according to its website — will provide heightened security for customers by enforcing “strictest compliance rules,” including know-your-client (KYC) measures. The company has also contracted one of the “Big Four” accounting and audit firms, Deloitte, to review and report on specific procedures, operations and balance funds. Argentina’s blockchain and cryptocurrency ambitions have witnessed regular growth over the past several months, and the Argentinian government has been relatively welcoming to the technology. Earlier this year, for example, new legislation paved the way for approximately 4,000 bitcoin ATMs, which are now being installed throughout the country. In April, Argentina became one of the first countries to declare an official “Bitcoin Day.” This article originally appeared on Bitcoin Magazine. |
‘We’re Deep at Work’ on Bitcoin: German Stock Exchange Deutsche Boerse
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CryptoCoins News, 1/1/0001 12:00 AM PST German stock exchange operator Deutsche Boerse is “deep at work” on evaluating whether to offer bitcoin futures and other cryptocurrency-related products, one of the firm’s top executives said on Wednesday. Speaking at an industry even in London sponsored by the Association for Financial Markets, Deutsche Boerse head of clients Jeffrey Tessler said that the firm The post ‘We’re Deep at Work’ on Bitcoin: German Stock Exchange Deutsche Boerse appeared first on CCN |
Stocks rise as Fed says inflation can temporarily climb above 2% target
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Business Insider, 1/1/0001 12:00 AM PST
Stocks inched higher Wednesday, recovering from earlier losses. The Federal Reserve released meeting minutes from its May gathering. The dollar rallied, and the 10-year Treasury yield edged lower. Here's the scoreboard: Dow Jones Industrial Average: 24,886.60 +52.19 (+0.21%) S&P 500: 2,727.20 2.76 (+0.10%) AUD/USD: 0.7563 -0.0014 (-0.18%) ASX 200 SPI futures: 6,020.0 -22.5 (-0.37%)
Here is the upcoming economic calendar:
Join the conversation about this story » NOW WATCH: Why so many fast food logos are red |
The once multi-billionaire CEO who led a crypto-tech company born out of a bra-maker has quietly stepped down
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Business Insider, 1/1/0001 12:00 AM PST
The chief executive of a crypto tech company born out of a reverse takeover of a fitness clothing firm is out, according to a company filing. Michael Poutre, the former chief executive of The Crypto Company, resigned from the firm on May 14. He was replaced by former president James Gilbert. The Crypto Company made headlines during the crypto boom at the end of 2017, which saw bitcoin soar close to $20,000 a coin and The Crypto Company's stock appreciate by as much as 1,600%. On paper, Poutre - who owned a fifth of the firm's shares - became a multi-billionaire at the peak, according to a report by The Wall Street Journal. He was worth $3.9 billion, The Journal reported. Bitcoin is now trading at around $7,600 a coin. Shares in the Crypto Company, which trade in OTC markets, were up 111% on Wednesday afternoon. Shares exchanged hands at around $42.50, down from an all-time high above $640 a share. The Crypto Company, which was developing technologies relating to crypto market structure, was born out of a reverse takeover of Croe Inc. Croe, a fitness clothing company, was developing a new type of sports bra. "Our strategy is to invest in the capital markets infrastructure for crypto," Poutre told Business Insider in an interview in December. The company then announced it was planning on splitting its stock in ten, as Business Insider first reported. Regulators denied that request, according to a filing. "On March 1, 2018, we received a letter from FINRA rejecting the Stock Split on the basis of deficiency and in the interest of the protection of investors, the public interest and to maintain fair and orderly markets," the filing said. A former stock broker, Poutre was suspended by FINRA for two years in 2010. |
Ashton Kutcher Surprises Ellen DeGeneres with $4 Million XRP Donation to Wildlife Fund
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CryptoCoins News, 1/1/0001 12:00 AM PST American actor and venture capitalist Ashton Kutcher teamed up with San Francisco-based cryptocurrency firm Ripple to surprise daytime talk show host Ellen DeGeneres with a late birthday present: a $4 million donation to the Ellen DeGeneres Wildlife Fund, paid out in XRP. Kutcher, a co-founder of VC firm Sound Ventures, made the donation on Ripple’s The post Ashton Kutcher Surprises Ellen DeGeneres with $4 Million XRP Donation to Wildlife Fund appeared first on CCN |
Bitcoin cash sinks below $1,000
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Business Insider, 1/1/0001 12:00 AM PST
Bitcoin cash sank more than 12% Wednesday, falling below $1,000 for the first time since April. The fourth-largest cryptocurrency by market cap is now trading near $997 per token, even after its recent fork which increased its block size fourfold. "The Bitcoin Cash network has been displaying some erratic behaviour over the past few weeks, which has contributed to the downwards pressure on prices," Iqbal Gandham, managing director for eToro, a British crypto firm, told Business Insider in an email. "Despite a recent surge, it’s now moving towards the head and shoulders pattern we’ve seen since last year." Last week, bitcoin cash upgraded its software with a patch known as Bitcoin ABC, which increased the size of transaction blocks on the network from 8mb to 32mb. The upgrade also removed the Segwit protocol, short for segregated witness, a process by which the number of transactions in a block can be increased by moving certain signature data from transactions to the end of the block. Bitcoin cash has been accused of misleading investors by piggy-backing off the bitcoin name. While the new cryptocurrency includes the history of the original bitcoin's transactions up until the split, since the fork, the two currencies are unrelated except for their shared history and name. Vocal bitcoin cash supporter Roger Ver, who owns bitcoin.com via an LLC registered at a Marriott resort on St. Kitts, and refers to the original bitcoin as "bitcoin core," has appeared on numerous internet talk shows, including the conspiracy-theory site InfoWars, to promote the coin. "For over a year Bitcoin cash has been fighting the battle to become the 'default' bitcoin, a battle which traditionalists are not keen to lose," Gandham said. "This lack of clarity, has repeatedly called into question the authenticity of Bitcoin cash, and until that is resolved the direction of price movement will always carry an air of uncertainty.” Join the conversation about this story » NOW WATCH: Ian Bremmer: Why the American dream doesn't exist anymore |
Bitcoin cash sinks below $1,000
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Business Insider, 1/1/0001 12:00 AM PST
Bitcoin cash sank more than 12% Wednesday, falling below $1,000 for the first time since April. The fourth-largest cryptocurrency by market cap is now trading near $997 per token, even after its recent fork which increased its block size fourfold. "The Bitcoin Cash network has been displaying some erratic behaviour over the past few weeks, which has contributed to the downwards pressure on prices," Iqbal Gandham, managing director for eToro, a British crypto firm, told Business Insider in an email. "Despite a recent surge, it’s now moving towards the head and shoulders pattern we’ve seen since last year." Last week, bitcoin cash upgraded its software with a patch known as Bitcoin ABC, which increased the size of transaction blocks on the network from 8mb to 32mb. The upgrade also removed the Segwit protocol, short for segregated witness, a process by which the number of transactions in a block can be increased by moving certain signature data from transactions to the end of the block. Bitcoin cash has been accused of misleading investors by piggy-backing off the bitcoin name. While the new cryptocurrency includes the history of the original bitcoin's transactions up until the split, since the fork, the two currencies are unrelated except for their shared history and name. Vocal bitcoin cash supporter Roger Ver, who owns bitcoin.com via an LLC registered at a Marriott resort on St. Kitts, and refers to the original bitcoin as "bitcoin core," has appeared on numerous internet talk shows, including the conspiracy-theory site InfoWars, to promote the coin. "For over a year Bitcoin cash has been fighting the battle to become the 'default' bitcoin, a battle which traditionalists are not keen to lose," Gandham said. "This lack of clarity, has repeatedly called into question the authenticity of Bitcoin cash, and until that is resolved the direction of price movement will always carry an air of uncertainty.” Join the conversation about this story » NOW WATCH: Ian Bremmer: Why the American dream doesn't exist anymore |
Fmr. Obama Aide Attacked for Taking Bitcoin Contributions for Political Campaign
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CryptoCoins News, 1/1/0001 12:00 AM PST Two California Democrats running for Congress are at odds over one’s decision to accept bitcoin contributions. In his campaign ad, ex-SEC attorney Dave Min slammed former Barack Obama aide Brian Forde for accepting BTC political donations. “Brian Forde’s big donors? Bitcoin speculators who oppose cracking down on drug deals and human trafficking,” Min’s ad trumpeted. The post Fmr. Obama Aide Attacked for Taking Bitcoin Contributions for Political Campaign appeared first on CCN |
Distributed Dialogues About the Blockchain Industry with Tatiana Moroz
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Bitcoin Magazine, 1/1/0001 12:00 AM PST In partnership with the Distributed Event Series and the Let's Talk Bitcoin Network, "Distributed Dialogues" gives listeners a cross section of the cryptocurrency and enterprise blockchain ecosystem by giving voice to the people, ideas and projects that make it possible. The following interviews were conducted by Tatiana Moroz, host of The Tatiana Moroz Show, during a recent Distributed: Markets event. Moroz interviewed a wide variety of the people who work in the cryptocurrency and blockchain technology space. Whether they are recruiting internationally for a cryptocurrency exchange, building peer-to-peer decentralized trading platforms, disrupting supply chains or simply trying to create a more open world for financial transactions, hearing from these people illuminates what is happening within the space. Proof of Proof Maxwell Sanchez is co-founder and CTO of Veriblock, a blockchain software development company that created proof-of-proof (PoP). PoP is a consensus protocol that leverages the Bitcoin blockchain's proof-of-work (PoW) to provide higher quality data integrity for services in healthcare, law enforcement and more. Crypto Companies Raising Funds Ayesha Kiani is managing director of Republic Crypto, a pre-sale token fundraising platform for individual and organizational investors. Before Republic Crypto, Kiani worked for SingularDTV and held numerous other roles in the venture capital space. She has a bachelor's degree in finance from New York University (NYU) as well as a J.D. from the NYU Law School. Running A Peer-To-Peer Financial Engine Adam Perlow is CEO of Zen Protocol, a consensus protocol which follows Bitcoin's style of transaction output while also allowing for Ethereum-like features such as smart contracts and support for multiple tokens.Treated With Heat Rick Dudley is CEO of Vulcanize, a consultancy that helps companies formulate blockchain architectures that focus in particular on "federated systems" or "permissioned blockchains". Recruiting for a Bitcoin Exchange Ryan Andersen is an executive in recruiting and operations at the digital asset exchange Kraken. Like so many other companies in the blockchain and cryptocurrency space, Kraken is seeking to massively grow its number of employees. Andersen explains the company's ever-present need for developers as well as accountants, customer service representatives, account management people and regulatory compliance experts. Starting A Decentralized Exchange on Ethereum Barath Rao is CEO of Leverj a decentralized exchange that is also "leveraged" in the sense that it can offer cryptocurrency futures contracts and risk management. Rao explains the perceived value of a decentralized exchange as well as what it has been like to launch one. This article originally appeared on Bitcoin Magazine. |
Distributed Dialogues With Tatiana Moroz
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Bitcoin Magazine, 1/1/0001 12:00 AM PST In partnership with the Distributed Event Series and the Let's Talk Bitcoin Network, "Distributed Dialogues" gives listeners a cross section of the cryptocurrency and enterprise blockchain ecosystem by giving voice to the people, ideas and projects that make it possible. The following interviews came from Tatiana Moroz during the Distributed: Markets event. During the event, Tatiana interviewed a wide variety of the people who work in the cryptocurrency and blockchain technology space. Hearing from these people illuminates what is happening within the space whether recruiting internationally for a cryptocurrency exchange, building a peer-to-peer decentralized platform, disrupting supply chains or simply trying to create a more open world for financial transactions. Proof of ProofCrypto Companies Raising FundsRunning A Peer-To-Peer Financial EngineTreated With HeatRecruiting for A Bitcoin ExchangeStarting A Decentralized Exchange on Ethereum This article originally appeared on Bitcoin Magazine. |
What you need to know on Wall Street today
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Business Insider, 1/1/0001 12:00 AM PST Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Credit card rewards getting culled Who can't relate to the pang of frustration from buying something nice and then noticing it's been significantly marked down not long after? You haven't been ripped off just because that laptop or pair of designer jeans is discounted by $78 five weeks later, but the feeling of buyer's remorse is similar. For many years, credit-card companies like Chase and Citi have offered protection from this consumer headache as one of a handful of complimentary, insurance-like benefits: If you pay with their card, they'll refund you the difference, up to several hundred dollars, if you spot a lower price in following months. And for many years few people ever took advantage of it. Between monitoring prices, cobbling together the necessary evidence and paperwork, filing the claim, following up, and waiting to eventually collect a check in the mail while your kids grow older and your hair starts to gray, who had the time? Using price protection was a laborious task to all but the savvy, determined shopper, the type who listens to personal-finance guru Suze Orman while clipping coupons and cataloging receipts. "Back in the day, when this was first offered and customers had to do the legwork, they didn't bother," an executive at one major card issuer said. Then, the bots arrived.
Discord at Deutsche Bank Deutsche Bank may eliminate as many as 10,000 jobs as part of a larger cost-cutting initiative at the German lender, according to the Wall Street Journal. The cuts could hit 1 out of every 10 employees and may extend into 2019, the report said. Separately, Deutsche Bank is looking at cutting back in several equities markets around the globe, Bloomberg reported on Wednesday. Shares of Deutsche Bank sank to an 18-month low on the heels of the reports.
Shakeup at IEX There's been an executive shakeup at upstart stock exchange IEX as it continues to try to lure a listing from one of its rivals. IEX has hired former Bank of America Merrill Lynch banker Dan Cummings as Head of Corporate Advisory, which includes IEX's listings business. He replaces Sara Furber, a former Morgan Stanley executive who is taking on the CFO role. The company, which said it would have its listings business up and running in early 2018, has not been able to attract a company to list. That's despite the firm giving companies big incentives to list shares on the venue.
Bitcoin mania Bitcoin may be down close to 40% since the beginning of the year, but that doesn't mean developers with expertise in the technology powering the crypto aren't making money hand-over-fist. Companies are willing to pay a lot to lure crypto talent. Some are even offering new hires $1 million dollar signing bonuses, according to Dave Schwartz, the chief cryptographer at Ripple, who told the Wall Street Journal pay packages "have gotten insane."
In markets news
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What you need to know on Wall Street today
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Business Insider, 1/1/0001 12:00 AM PST Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Credit card rewards getting culled Who can't relate to the pang of frustration from buying something nice and then noticing it's been significantly marked down not long after? You haven't been ripped off just because that laptop or pair of designer jeans is discounted by $78 five weeks later, but the feeling of buyer's remorse is similar. For many years, credit-card companies like Chase and Citi have offered protection from this consumer headache as one of a handful of complimentary, insurance-like benefits: If you pay with their card, they'll refund you the difference, up to several hundred dollars, if you spot a lower price in following months. And for many years few people ever took advantage of it. Between monitoring prices, cobbling together the necessary evidence and paperwork, filing the claim, following up, and waiting to eventually collect a check in the mail while your kids grow older and your hair starts to gray, who had the time? Using price protection was a laborious task to all but the savvy, determined shopper, the type who listens to personal-finance guru Suze Orman while clipping coupons and cataloging receipts. "Back in the day, when this was first offered and customers had to do the legwork, they didn't bother," an executive at one major card issuer said. Then, the bots arrived.
Discord at Deutsche Bank Deutsche Bank may eliminate as many as 10,000 jobs as part of a larger cost-cutting initiative at the German lender, according to the Wall Street Journal. The cuts could hit 1 out of every 10 employees and may extend into 2019, the report said. Separately, Deutsche Bank is looking at cutting back in several equities markets around the globe, Bloomberg reported on Wednesday. Shares of Deutsche Bank sank to an 18-month low on the heels of the reports.
Shakeup at IEX There's been an executive shakeup at upstart stock exchange IEX as it continues to try to lure a listing from one of its rivals. IEX has hired former Bank of America Merrill Lynch banker Dan Cummings as Head of Corporate Advisory, which includes IEX's listings business. He replaces Sara Furber, a former Morgan Stanley executive who is taking on the CFO role. The company, which said it would have its listings business up and running in early 2018, has not been able to attract a company to list. That's despite the firm giving companies big incentives to list shares on the venue.
Bitcoin mania Bitcoin may be down close to 40% since the beginning of the year, but that doesn't mean developers with expertise in the technology powering the crypto aren't making money hand-over-fist. Companies are willing to pay a lot to lure crypto talent. Some are even offering new hires $1 million dollar signing bonuses, according to Dave Schwartz, the chief cryptographer at Ripple, who told the Wall Street Journal pay packages "have gotten insane."
In markets news
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Here's What Happened At Graceland’s Ethereum Conference
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Bitcoin Magazine, 1/1/0001 12:00 AM PST Throughout 2018, blockchain and cryptocurrency hackathons are taking place on every continent but Antartica. In the United States alone, conferences are happening in Las Vegas, Atlanta, Berkeley, Raleigh, San Francisco, New York City, Seattle and, of course, Silicon Valley. Some conferences will be more inclined toward a particular sector like Blockchain Health in Washington D.C. Others will target a specific demographic like Women4Blockchain in New York City. Some conferences will attract thousands in attendance; others might charge thousands of dollars for attendance. In its first year, EthMemphis distinguished its place on the blockchain conference circuit for displaying an under-the-hood glimpse at what actually moves this young industry forward, specifically on the Ethereum network. Taking place at the University of Memphis’ Fedex Institute of Technology, EthMemphis focused on Ethereum-based blockchain topics and projects applied to supply chain, healthcare, tourism/hospitality, education and law. Specifically, the three-day conference consisted of a hackathon interspersed with a Saturday full of blockchain talks, technical workshops, drone racing and a collaborative effort between the Decentraland team of Buenos Aires and the Memphis Game Developers to create a game within the virtual world. FedEx: Blockchain or Be DisruptedSean Healy, senior vice president of transportation for FedEX Freight, gave a keynote address. Healy stated that FedEX Freight is the least technologically sound arm of FedEx and, therefore, presents a huge opportunity for blockchain technology to be applied to supply chain logistics. Healy explained the importance of FedEx CEO Fred Smith’s quote: “The information about the package is just as important as the package itself.” There are multiple parties involved in the cross-border shipping supply chain such as customs authorities, brokers and government agencies — all of which need information about a particular package. Maintaining a distributed ledger for package information would allow FedEx to significantly reduce operational costs by decreasing turnaround time. Healy said that with regards the current uncertainty of U.S. regulations applied to blockchain technology, FedEx is encouraging federal and state governance to help set standards. HackathonThere were five prize categories at this hackathon: legal, supply chain, healthcare, travel and innovation. In the legal category, the hackathon was won by “Blockchain of Custody.” Built on Solidity, Blockchain of Custody uses a blockchain to track the criminal evidence used during trials. The project was built by Joshua Shelton, Sam Borick, Christine Lee and Yucheng Zhang.
In the supply chain category, “Organ Trail” won for creating a solution to accommodate fast, secure and error-free transportation of organ transplant data among multiple parties. Built using node.js/Solidity/OpenZepplin/ERC721/Ethereum, the project was built by Alex Fisher, Forest Fang, the ZhenPanda and the mysterious Nedodne. “Ethereum Insight” won in the innovation category. Built by Rahul Raina and Kiko Lam, the project creates a querying layer — a simple API structured tool to filter data of ERC20 tokens — to drive insight about user behavior of ERC20 token holders. EthKids Breeding Cryptozombies!During the weekend, Bitcoin Magazine spoke with Meka Egwuekwe, executive director of the Memphis nonprofit, Code Crew. Code Crew mentors Memphis’s underrepresented youth to be tech innovators of tomorrow by teaching them how computation and digital systems work, and how to apply those principles to programming and software development. Since 2015, Code Crew has taught more than one thousand students to code through summer camps, after-school programs and in-school electives. Of the 250 kids who participate in Code Crew weekly, 91 percent are black and Latino and 41 percent are female; 89 percent of all participants are more likely to study computer science. On Saturday, Code Crew kids wrote their first smart contracts on the Ethereum network with Solidity code using CryptoZombies. CryptoZombies is a free platform that teaches newcomers and experienced programmers alike how to build commercial scale applications, especially games, on the Ethereum blockchain.
EthMemphis Does the Infamous ERC721The ERC721 token was a heavily discussed topic during EthMemphis. On Saturday, Airbnb’s Elena Nadolinski led a live coding workshop where she showed the audience how to build their own ERC721 token. The ERC721’s notoriety in the cryptocurrency and blockchain ecosystem is mostly attributed to the viral phenomenon, CryptoKitties. Here is how Nadolinski explained the significant difference between ERC20 (most commonly used to make new cryptocurrencies) and ERC721 tokens: ERC20 tokens represent fungible assets such as currency; ERC721 tokens represent non-fungible or unique assets such as the Mona Lisa, concert tickets, or collectibles such as art or Pokemon cards. DAppBoard Games, an analytics platform for tracking the use of Ethereum smart contracts, distinguishes the difference between ERC20 and ERC721 tokens another way: ERC20 is classified as a token and ERC721 is classified as some type of game. One EthMemphis sponsor uses ERC721 tokens to allow for access to hotel rooms for a predetermined amount of time. BookLocal, is a travel and hospitality company that wants to simplify hotel booking and guest management by streamlining it on the Ethereum blockchain. “Hotels will be able to mint their own ERC721 tokens based on how many rooms they have,” said Sardor Umarov, co-founder of BookLocal. “We see opportunity to empower destinations to work in partnership with local hotel operators, to lower the overall cost of distribution and to retain more revenue within local economies.” In addition, BookLocal awarded special prizes to hackathon participants Sam Steele and Aaron Anderson for their work on the BookLocal platform. This article originally appeared on Bitcoin Magazine. |
Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose Millions
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CryptoCoins News, 1/1/0001 12:00 AM PST A malicious miner successfully executed a double spend attack on the Bitcoin Gold network last week, making BTG at least the third altcoin to succumb to a network attack during that timespan. Bitcoin Gold director of communications Edward Iskra first warned users about the attack on May 18, explaining that a malicious miner was using The post Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose Millions appeared first on CCN |
Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose Millions
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CryptoCoins News, 1/1/0001 12:00 AM PST A malicious miner successfully executed a double spend attack on the Bitcoin Gold network last week, making BTG at least the third altcoin to succumb to a network attack during that timespan. Bitcoin Gold director of communications Edward Iskra first warned users about the attack on May 18, explaining that a malicious miner was using The post Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose Millions appeared first on CCN |
CRYPTO INSIDER: Developers are raking in million dollar bonuses even as prices slump
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Business Insider, 1/1/0001 12:00 AM PST
Welcome to Crypto Insider, Business Insider's roundup of all the bitcoin and cryptocurrency news you need to know today. Sign up here to get this email delivered direct to your inbox. Bitcoin may be down close to 40% since the beginning of the year, but that doesn't mean developers with expertise in the technology powering the crypto aren't making money hand-over-fist. A Wall Street Journal report found that companies are willing to pay a lot to lure crypto talent. Some are even offering new hires $1 million dollar signing bonuses, according to Dave Schwartz, the chief cryptographer at Ripple, who said pay packages "have gotten insane." Here are the current crypto prices:
In the news:
New to Crypto Insider? Business Insider has a ton of articles to get you caught up to speed, including:
What other questions do you have about crypto? Ask them in Business Insider's Crypto Insider Facebook group today to discuss with readers from all over the world, as well as BI editorial staff. SEE ALSO: Drugs, naked dancers, and more at New York's blockchain week Join the conversation about this story » NOW WATCH: How a tiny camera startup is taking on Amazon and Google |
CRYPTO INSIDER: Developers are raking in million dollar bonuses even as prices slump
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Business Insider, 1/1/0001 12:00 AM PST
Welcome to Crypto Insider, Business Insider's roundup of all the bitcoin and cryptocurrency news you need to know today. Sign up here to get this email delivered direct to your inbox. Bitcoin may be down close to 40% since the beginning of the year, but that doesn't mean developers with expertise in the technology powering the crypto aren't making money hand-over-fist. A Wall Street Journal report found that companies are willing to pay a lot to lure crypto talent. Some are even offering new hires $1 million dollar signing bonuses, according to Dave Schwartz, the chief cryptographer at Ripple, who said pay packages "have gotten insane." Here are the current crypto prices:
In the news:
New to Crypto Insider? Business Insider has a ton of articles to get you caught up to speed, including:
What other questions do you have about crypto? Ask them in Business Insider's Crypto Insider Facebook group today to discuss with readers from all over the world, as well as BI editorial staff. SEE ALSO: Drugs, naked dancers, and more at New York's blockchain week Join the conversation about this story » NOW WATCH: How a tiny camera startup is taking on Amazon and Google |
Op-ed: China Ranked [51% Attack] Verge and Bitcoin at #13 in Blockchain List
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CryptoCoins News, 1/1/0001 12:00 AM PST On May 22, CCN reported that Verge (XVG), a privacy-focused cryptocurrency, fell victim to yet another 51 percent attack. Altcoin mining pool operator Suprnova revealed that an individual or an organization has invalidated legitimate blocks. Verge Attack “Verge is once again under attack, someone is 51%’ing the chain and invalidating all legit blocks. All pools The post Op-ed: China Ranked [51% Attack] Verge and Bitcoin at #13 in Blockchain List appeared first on CCN |
Op-ed: China Ranked [51% Attack] Verge and Bitcoin at #13 in Blockchain List
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CryptoCoins News, 1/1/0001 12:00 AM PST On May 22, CCN reported that Verge (XVG), a privacy-focused cryptocurrency, fell victim to yet another 51 percent attack. Altcoin mining pool operator Suprnova revealed that an individual or an organization has invalidated legitimate blocks. Verge Attack “Verge is once again under attack, someone is 51%’ing the chain and invalidating all legit blocks. All pools The post Op-ed: China Ranked [51% Attack] Verge and Bitcoin at #13 in Blockchain List appeared first on CCN |
Bitcoin Price Rewinds to $7,800 as Cryptocurrency Market Drops $27 Billion Overnight
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CryptoCoins News, 1/1/0001 12:00 AM PST On yesterday’s report, CCN emphasized that if the bitcoin price falls below the $8,200 resistance level once again, a reentry into the $7,000 region is inevitable. Over the past 24 hours, the bitcoin price dropped by around 4 percent from $8,300 to $7,850. Bitcoin Price Trend As CCN previously reported, the recent correction of the The post Bitcoin Price Rewinds to $7,800 as Cryptocurrency Market Drops $27 Billion Overnight appeared first on CCN |
Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014
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CoinDesk, 1/1/0001 12:00 AM PST Following bitcoin's recent losses, a key long-term trend indicator is looking increasingly bearish. Notably, the five-month moving average (MA) has rolled over in favor of the bears and looks set to cut the 10-month MA from above - a bearish crossover that hasn't been seen since June 2014. If that occurs it could be a […] |
Why Invest in Litecoin?
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CryptoCoins News, 1/1/0001 12:00 AM PST This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Litecoin is attractive to crypto investors who view Charlie Lee’s creation as a long-term prospect that is linked to Bitcoin’s success. It is praised for its near-instant transaction … Continued The post Why Invest in Litecoin? appeared first on CCN |
Why Invest in Litecoin?
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CryptoCoins News, 1/1/0001 12:00 AM PST This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Litecoin is attractive to crypto investors who view Charlie Lee’s creation as a long-term prospect that is linked to Bitcoin’s success. It is praised for its near-instant transaction … Continued The post Why Invest in Litecoin? appeared first on CCN |
MIT Is Testing A Smart Contract-Powered Bitcoin Lightning Network
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CoinDesk, 1/1/0001 12:00 AM PST A recently completed MIT test showcases how bitcoin might not just scale, but do so in a way where it's transactions are more expressive than today. |
Bitcoin Price Falls to 35-Day Low Below $8K
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CoinDesk, 1/1/0001 12:00 AM PST Bitcoin's price is slipping below $8,000 again, reaching its 35-day low within just an hour since the trading entered Wednesday morning session. |
CFTC Issues New Guidance on Cryptocurrency Derivatives
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CryptoCoins News, 1/1/0001 12:00 AM PST The top US markets regulator has issued new guidance to exchanges and other trading platforms that are interested in listing bitcoin futures and other cryptocurrency derivatives products. The Commodity Futures Trading Commission (CFTC) released this new guidance on Monday, providing exchanges with a set of best practices to follow as they develop and launch these The post CFTC Issues New Guidance on Cryptocurrency Derivatives appeared first on CCN |
Newsflash: Bears Push Bitcoin Price Back Below $8,000 as Market Sheds $18 Billion
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CryptoCoins News, 1/1/0001 12:00 AM PST The bitcoin price fell back below the $8,000 level on Tuesday after the flagship cryptocurrency failed to receive a Bitcoin Pizza Day bump. Bitcoin had briefly peaked above $8,600 on Monday, giving investors a false hope that it would make a run back toward $9,000. Unfortunately, this rally proved unsustainable, and the bitcoin price entered The post Newsflash: Bears Push Bitcoin Price Back Below $8,000 as Market Sheds $18 Billion appeared first on CCN |
1000 Bitcoins Seized in Landmark Israeli Money Laundering Case
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CryptoCoins News, 1/1/0001 12:00 AM PST The cybercrime division of the State Attorney’s office of Hebron, Israel indicted local resident Hilmi Git on Monday for allegedly using over 800 Israeli credit cards to carry out 20,000 fraudulent transactions and laundering the money using bitcoin. The indictment, filed in the Tel Aviv district courts, alleges that the transactions they claim Git made The post 1000 Bitcoins Seized in Landmark Israeli Money Laundering Case appeared first on CCN |