Blockchain Analytics Show Altcoins 2x More Prominent in East Asia Compared to North America

On August 6, the blockchain intelligence firm Chainalysis published a report that analyzes cryptocurrency trends across various regions worldwide. According to the statistics, North America purchases and holds more bitcoin than any other region. Bitcoin also accounts for the largest share of U.S. crypto asset activity with 72% of all the transaction volume. The blockchain analytics company Chainalysis published an excerpt from the firm’s upcoming “2020 Geography of Cryptocurrency Report” which shows an interesting perspective of geographic crypto hot spots. As far as numbers are concerned, in 2020 East Asia…

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BitMEX Leaderboard Trader Fears Bitcoin Could See a Second “Flash Dump”

Bitcoin has slid lower over the past 24 hours as the cryptocurrency failed to surmount $12,000 in the latest leg higher. As of the time of this article’s writing, BTC trades for $11,600 — 5% shy of the local highs. Investors are still reeling from the flash crash that transpired approximately one week ago. While that was seemingly a black swan event, a trader is fearing a secondary event. The individual in question is a two-time BitMEX return on equity (ROE) leaderboard trader, meaning he has a strong track record.…

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Analyst: Bitcoin May “Teleport” to $13,000 if It Breaks Key Level

Bitcoin is currently caught in an unwavering consolidation phase within the upper-$11,000 region This is where the cryptocurrency has been trading throughout the past several days Unless buyers step up and shatter the resistance that sits around $12,000, the crypto could be poised to see notable losses One analyst is now noting that he is closely watching the price region between $11,800 and $12,000, as a firm close above this level could lead BTC to “teleport” to $13,000 It has so far been unable to do so, and the cryptocurrency…

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Major South Korean Bank Joins the Crypto Custody Business

We’re suddenly seeing banks lining up to support crypto custody, and KB Kookmin Bank is looking to get in on the action. KB Kookmin Bank, one of the largest banks in South Korea, has partnered with blockchain venture fund, Hashed, and crypto trading platform, Cumberland Korea, to establish “strategic technology cooperation” on the custody of digital assets. The companies belonging to the partnership state that their inception into the crypto custody business is a response to regulatory changes. These changes encouraged them to look into new business models — specifically…

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Bullish Bitcoin Price Trend Intact Even After BTC Retests $11.4K Support

After dropping 4.89% to confirm $11.4K as support, Bitcoin price is slowly making its way back toward $11.8K.  Bitcoin (BTC) price swiftly fell to $11,322 after reaching a daily high at $11,909 The drop came as U.S. jobless claims fell to $1.2 million but lawmakers inability to reach a deal on the next coronavirus stimulus package has worried some investors Despite the pullback to the $11.4K support, Bitcoin price remains in an uptrend  Crypto market daily price chart. Source: Coin360 Earlier today Bitcoin (BTC) price abruptly dropped to $11,322 after…

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Reports Claim UK’s Financial Conduct Authority ‘Pressurized’ to Remove Onecoin Scam Warning

A recent episode of the popular BBC Sounds podcast the “Missing Cryptoqueen” has shown the public a very interesting view of the powerful Onecoin Ponzi. According to two witnesses the BBC interviewed, a London law firm and a reputation management company allegedly managed to get the UK’s Financial Conduct Authority (FCA) to take down a Onecoin warning. The Bulgaria-based Ponzi scheme Onecoin was once described by The Times as “one of the biggest scams in history” managing to net $4 billion from operations. The pyramid scheme has become a hot…

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Adam Back: Some ICOs Funded Useful Research Despite Being Unethical

Adam Back admitted that some ICOs might have funded useful research, but still contends that they are deeply unethical. Adam Back recently took to Twitter with controversial comments on many of the industry’s largest crypto projects — including Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Stellar (XML). His tweets placed these projects in the same category as a number of bonafide scams, which he considers to have been orchestrated as “premines”. We interviewed Back in order to clarify his position on the matter, starting with questions of how he feels…

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An Official North Dakota Cryptocurrency Could Be on the Horizon

Following the early 2019 initiation of North Dakota’s deep dive into blockchain use cases, a state representative who was a leader in the study, mentioned a future digital asset concept for the region. Rep. Nathan Toman says that he desires a “North Dakota coin” He believes that such an asset could potentially help the struggling economy in the wake of COVID-19, an Aug. 7 article from Inforum said. “That was my hope, but we’re a little bit late to the game on doing something like that,” Toman told Inforum regarding COVID-19…

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Law Decoded: Tech as an Arena for International Conflict, July 31–August 7

As Trump clamps down on Chinese social media in the U.S., tech in general becomes subject to nationalism. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.  Editor’s note The U.S.–China trade war continues its brazen spillover into tech. In response to concerns over where data from TikTok and WeChat was going, President Trump sent out twin executive orders banning both applications last night.  The new action is distinct from, for example, squeezing Huawei out. Huawei’s hardware is tied up…

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OneCoin Co-Founder Escapes 90-Year Jail Term Following Court Settlement

Konstantin Ignatov is probably breathing a sigh of relief today. Konstantin Ignatov, co-founder of major cryptocurrency exit scam, OneCoin, initially faced up to 90 years in jail after pleading guilty in November 2019. Now, however, it seems that Ignotov is no longer one of the key defendants in legal actions brought by victims of the $4 billion scam, according to a report from Finance Magnates on Aug. 7. OneCoin investors representing plaintiffs Donald Berdeaux and Christine Grablis have agreed to settle with Ignatov. While the details of the court settlement…

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