Toronto-Dominion (TD) Bank is the latest financial institution to ban customers from using their credit cards to purchase cryptocurrency. As more retail investors continue to be onboarded, banks are looking to protect them from making ignorant decisions. Weighing Risk, Regulation, and Rapidity In a recent move that has become common from banks, TD Bank is effectively halting the use of credit cards to purchase cryptocurrency. Originally still permitting purchases even after the first move from
Tesla, the automotive company, was the victim of a cryptojacking attack as their Amazon cloud account was compromised and used to mine cryptocurrency. Even the largest and most technologically advanced companies can be vulnerable to being hacked. Case in point is the pioneering electric car company, Tesla, owned by tech billionaire Elon Musk. They were recently the target of a cryptojacking attack that saw their Amazon cloud account compromised and used to mine cryptocurrency. Security
The Telegram ICO is well on its way to its $2 billion goal as it raises a whopping $850 million during its pre-sale. When rumors leaked about a Telegram ICO, people took notice. The messaging app has become indispensable for many segments of society, especially for the crypto world. The overall goal of the app’s ICO is an eye-opening $2 billion, which would make it the largest ICO in history. While some scoffed at such
Crypto isn’t currency — at least, according to American multinational banking and financial services holding company JPMorgan Chase & Co. Missing the Point JPMorgan, a New York-based institution with a history that is far from pro-crypto, claimed in a wide-ranging note to clients that cryptocurrencies only make sense as a hedge in one’s investment portfolio — and are neither viable stores of value nor effective currencies. Wrote the company: The huge volatility of the price
A Chicago trader is facing up to 20 years in prison for stealing over $2 million in Bitcoin and Litecoin cryptocurrency from his employer. Most 24-year-olds would be quite happy to be attached to a new cryptocurrency unit for a major financial entity. That’s not a bad career path for someone who previously worked as a cryptocurrency trader in South Korea before joining Consolidated Trading LLC to become an assistant bond trader in July 2016.
Atari, the iconic video game company, has seen their stock price rise after announcing they would be creating their own cryptocurrency: the Atari Token. For gamers of a certain age, nothing can transport them back to their childhood faster than by just hearing “Atari.” The name alone conjures up marathon gaming sessions of Pac-Man or Warlords (or Yars’ Revenge, my personal favorite) while sitting on the living room floor in front of the TV. Now
After duplicating charges and draining users’ accounts, Visa has accepted responsibility for the gross error — after initially claiming Coinbase was to blame. Over the past week, Coinbase users have been experiencing a rather unpleasant situation. Numerous users reported erroneous duplicate charges on their credit and debit cards, effectively draining users’ bank accounts and leaving many individuals in potentially dangerous situations. After initially confirming the reports, Coinbase passed the blame for the situation on to Visa,
After possibly thousands of investors got burned by arbitrage-trading company Optioment last year, Austrian authorities have asked Interpol to help track down the fraudsters responsible for the Bitcoin scam. Another Bitcoin Scam Burns Buyers European authorities are on the hunt for criminals involved in defrauding thousands of individuals and losing over $100 million worth of investors’ Bitcoin. According to reports, Optioment ran a now-defunct website while holding large-scale events in Austria — in which the
Asset tokenization is the new trend of 2018. It’s now rapidly becoming a widespread instrument all over the blockchain world. More and more people are engaging in developing and using this technology. The reason behind is the fact that tokenization has become an ideal instrument for digital assets and new rapidly growing markets. On the 6th of February, BANKEX’s MediaToken project launched the service that is going to enable tokenization of Instagram accounts as well
A new Blockchain app seeking to introduce Lightning Network compatibility for Coinbase users has debuted its alpha demo. Could Coinbase Users Get Lightning? Lightning Ramp acts as a middleman service, allowing users of major exchanges to benefit from Lightning Network improvements in transaction fees and faster processing times. As Lightning gains huge mainnet traction among the Bitcoin community, currently operating almost 2000 channels, demand from users for better transaction experiences on Coinbase in particular also
Instant cryptocurrency conversion platform ShapeShift was forced to apologize Tuesday after it referred to Bitcoin as “Bitcoin Core.” Voorhees: ‘It Was A Mistake’ The mislabelling, which repeated across ShapeShift’s social media suite, came as it announced a partnership with Roger Ver’s Bitcoin.com to enable the resource’s wallet users to switch between Bitcoin (BTC) and Bitcoin Cash (BCH). The rivalry between Bitcoin and Bitcoin Cash proponents has continued in 2018, with the latter, in particular Bitcoin.com
Popular privacy-focused instant messaging application Telegram has suffered a bit of a setback, as hackers have been secretly able to utilize unsuspecting users’ computers to mine Monero and Zcash. Private and Secure? Not Quite. According to multinational cybersecurity and anti-virus provider Kaspersky Lab, hackers have been taking advantage of a flaw in the Telegram messaging app’s desktop client, which has allowed them to remotely mine popular cryptocurrencies. Since March 2017, hackers have been conducting “in
Microsoft has concluded that so-called ‘layer 2’ solutions are necessary for Bitcoin to scale and is “collaborating” on the technology. Microsoft: On-Chain Fails To Meet Capacity Needs In a blog post on Monday, Director of Program Management at Microsoft’s Identity Division Alex Simons said that layer 2 scaling solutions, which principally involve the Lightning Network, are superior to on-chain scaling. Simons writes: While some blockchain communities have increased on-chain transaction capacity (e.g. blocksize increases), this approach
Well-known cryptocurrency traders have reacted with excitement to news decentralized cryptocurrency exchange Hodl Hodl has launched its public BETA. Hodl Hodl Sets Price Of Avoiding KYC At 0.6% The p2p platform, which offers traders decentralized exchange functionality for Bitcoin and Litecoin, announced its limited debut February 11. “For now, we are opened in BETA-mode until July of 2018, which means a lot of new features are coming soon, with the main functionality of the exchange
Nvidia is raking in profits thanks to cryptocurrency mining and an increased demand for their GPUs — and for CEO Jensen Huang, the utility of cryptocurrency is obvious. “It’s Not Going to Go Away” As Bitcoin and other cryptocurrencies continue to explode into the mainstream consciousness, so too does the demand for high-powered GPUs capable of generating the best results when mining — the process of confirming transactions. The demand for GPUs has helped cause
Following the fallout from fraudulent Ponzi-scheme Bitconnect’s demise, New Jersey has officially ordered cryptocurrency investment entity Bitstrade to stop offering unregistered and fraudulent securities in the state. New Jersey regulators have uncovered yet another fraudulent cryptocurrency investment company. The announcement comes by way of Attorney General Gurbir S. Grewal and the Division of Consumer Affairs and has been ordered by the Bureau of Securities after an investigation found Bitstrade to be in violation of New
As Bitcoin and cryptocurrency continues to become more and more viable by the week, one lingerie tycoon and her billionaire boyfriend have recently sold out 50 Dubai developments for Bitcoin. Sold Out Buying homes with Bitcoin is becoming more and more common. Ultimo lingerie tycoon Michelle Mone and her billionaire boyfriend, Doug Barrowman, initially put 50 of their 1,300 developments, located in Dubai’s Science Park, up for sale with Bitcoin — and it didn’t take
CG Blockchain, developers of blockchain-based tech for the investment industry, has announced their partnership with global financial data and analytical tools provider FactSet. The new partnership will enable CG Blockchain’s clients to use FactSet’s order and execution management system for order generation, analysis, and compliance. In return, FactSet will gain access to blockchain tools developed by CG Blockchain. FactSet (FDS) is a publicly traded company that provides analytical and data-driven solutions, technology, content, and services to professional investors.
A Canadian regulator wants Google to follow Facebook by banning cryptocurrency ads, as well as ads for ICOs and binary options. If there’s one reflex you can automatically assume from a government entity when confronted with something new, it’s the instant urge to ban. It’s blatantly obvious that most governments are not fans of cryptocurrencies. While some are looking to enact some form of regulation, others are looking to more stringent means. A senior investigator
Coinbase has stated its commitment to introduce SegWit compatibility in “a few weeks,” fulfilling a promise made to customers in late 2017. Final Testing Confirmed In a tweet Monday, the largest US exchange and wallet provider repeated claims made late last year that SegWit – as a “feature” – was less of a priority for developers than security and performance. “Our engineering team has begun the final testing phase of SegWit for Bitcoin on Coinbase.
Telecoms firm T-Mobile found itself on the end of a lawsuit this weekend after a customer accused them of allowing hackers into his wireless account. The security breach resulted in the theft of cryptocurrency to the sum of thousands of dollars. It was reported that Carlos Tapang of Washington State blamed T-Mobile for having lax security, which resulted in the hack and resultant theft. The suit states that the company improperly allowed wrongdoers to access
Just in time for what some savvy investors might construe as a 60%-off Bitcoin sale, VISA and Mastercard have decided to make buying cryptocurrency more expensive than ever. Bitcoin is “Cash” Now? At some point during the last week, both VISA and Mastercard decided to reclassify Bitcoin transactions as “cash advances” – as opposed to purchases. According to a spokesperson from Mastercard: Over the past few weeks, we have clarified to acquirers – or the
Telegram, a popular non-profit cloud-based instant messaging service, is kind of a big deal. Even so, many big-time cryptocurrency investors aren’t interested in the company’s record-seeking $2bn initial coin offering (ICO). Telegram is seeking to fund a mainstream payment system utilizing multi-blockchain architecture, which will be integrated into their popular messaging application. Even for a well-known and reputable brand like Telegram, however, reaching a target goal $2bn for an ICO is no easy feat, requiring