Former Facebook Counsel Joins Coinbase as Chief Legal Officer

Former Facebook Vice President and Deputy General Counsel Paul Grewal will lead crypto exchange Coinbase’s legal team. Paul Grewal, a former US magistrate judge in California and Deputy General Counsel for Facebook, is joining crypto exchange Coinbase’s legal team. In a July 8 announcement on the Coinbase blog, the crypto exchange said the addition of Grewal will help “pave the way for the next phase of crypto awareness and adoption.” The new Chief Legal Officer will also lead the legal team as Coinbase partners with financial services regulators, and develops…

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$1.4M in Bitcoin Transactions: New High for Argentina as Confidence in the Peso Tanks

Crisis laden Argentina saw bitcoin transactions worth $1.4 million (101 million pesos) being recorded in the past week, a new high for the country. According to a report by Vorem, this figure is nearly double the previous high of $0.96 million recorded in the last week of June. Citizens who have previously “watched their currency lose value are now turning to bitcoin” and those finding it difficult to “transfer fiat money to other countries” now make use of the cryptocurrency. The Argentine financial troubles, which started in 2018, worsened following…

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WEF’s Sheila Warren: Mass Adoption Depends on Bridging Digital Divide

The Head of Blockchain at the World Economic Forum says people excluded from traditional financial systems will help drive mass adoption. The World Economic Forum’s head of blockchain and data policy, Sheila Warren, says that people who have turned away, or been excluded, from traditional financial systems are the ones most likely to drive mass adoption.  Warren spoke at the Unitize conference on July 8 on the path to mass adoption with moderator Shira Frank. She said bridging the digital divide is the key to making blockchain mainstream.  Screen capture…

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Prosecutors Expect Guilty Plea From Alleged $7m Crypto Fraudster

The operator of an allegedly fraudulent crypto escrow scheme accused of misappropriating $7 million from two clients is expected to plead guilty in September. Jon Barry Thompson, the accused operator of a fraudulent crypto escrow service that defrauded $7 million from two customers, is expected to enter a guilty plea — with prosecutors aiming to finalize proceedings in September. “The parties expect to reach a disposition of this matter and respectfully request that the court set a control date in September 2020 for the entry of that disposition,” the prosecution…

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Famous Malaysian Actor Fined for Stealing $50,000 Worth of Crypto From His Producer

A Malaysian court has fined famous local actor Mas Khan $4,000, or 26 months in jail, for stealing around $50,000 worth of cryptocurrency belonging to his producer, local media reported. Khan appears to have gained access to his boss’ Datuk A.Aida private keys before plundering his wallet on two separate occasions, the same day. In the first case, Khan pillaged the equivalent of $14,000 in crypto from the film producer’s wallet, according to a report published in the Malay Mail on July 8. A second incident saw the 26-year old,…

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Bitso Hits 1M Users as Crypto Adoption Spikes in Latin America

Ripple and Coinbase-backed cryptocurrency exchange Bitso has topped Argentina’s crypto market in the six months after launch. Bitso, one of the biggest cryptocurrency exchanges in Latin America, has hit 1 million users prior to its upcoming launch in Brazil. Santiago Alvarado, director of cross-border payments at Bitso, discussed the latest developments in leveraging crypto for cross-border payments in Latin America during a Unitize panel on July 8. The discussion was joined by Ripple’s director of product Craig DeWitt and Prysm Group’s Reed Cataldo. Bitso tops Argentinian market after launching in…

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Despite Rally to $250, Ethereum Was Just Dealt This Fundamental Blow

Like most of the cryptocurrency market, Ethereum has performed well over the past few days. This strength culminated in a rally to the crucial level of $250 on Wednesday, as depicted in the chart seen below. Chart of ETH’s price action over the past seven weeks from TradingView.com The ongoing surge has been quick to flip cautious investors into bulls. One trader postulated that ETH is now on track to hit $300, citing the bullish break of its market structure and its outperformance of BTC. Yet some fear that the…

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If Crypto Traders Abandoned Litecoin Why Are Investors Hoarding LTC?

On-chain and trading data signal that traders have abandoned Litecoin, but for some reason long-term investors are hoarding LTC. Price wise, Litecoin (LTC) has had a pretty rough year and currently the altcoin is down 51% over the past twelve months. The lack of GitHub activity and planned protocol upgrades have Litecoin co-founder Charlie Lee to admit 2019 saw a historic low in the number of developers working on Litecoin Core, the software behind network nodes. The beginning of 2020 was no different and Charlie Lee asked for voluntary LTC…

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‘Bitcoin Is Not a Privacy Coin’ Says Crypto Evangelist Andreas Antonopoulos

Andreas Antonopoulos discussed how he desired to see Bitcoin have more “privacy features” in a recent live stream Q&A session published on Youtube on July 7. Antonopoulos discussed the privacy-centric coin monero and concepts like stealth addresses and ring signatures. Every once in a while, the well known cryptocurrency expert and evangelist, Andreas M. Antonopoulos, publishes a short clip of him answering a question from one of his live stream followers. On July 7, Antonopoulos discussed the Bitcoin (BTC) network and answered the question of whether or not “[BTC would]…

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These 3 Simple Factors Could Erase Bitcoin’s Current Signs of Strength

Bitcoin is beginning to flash some signs of strength as it starts breaking out of the recently established trading range between $9,00 and $9,300 The crypto could soon make a move to test the resistance that sits towards the top of its long-held trading range This resistance extends from $9,700 to $10,000 BTC’s tempered strength comes as altcoins begin rallying, with some even climbing as much as 100% yesterday Analysts are noting that there are a few factors that suggest Bitcoin could be in for a notable decline in the…

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