Market Wrap: Bitcoin Over $11.7K; Uniswap Passes $500M in Daily Volume

Bitcoin’s price jumped to $11,784 while the top decentralized exchange crossed a half-billion dollars in daily trading volume.

Bitsonar Whistleblower Says Law Enforcement Faked His Murder in Attempt to Protect Him

A whistleblower from defunct crypto firm Bitsonar has reappeared after going missing f for three days, saying law enforcement faked his kidnapping and death.

US Stock Market Cap to GDP Reaches 190%, Eclipsing Dot-Com Bubble High

The booming stock market is driven by perception of the Federal Reserve’s commitment to high prices and growing individual trading, but how sustainable is it?

Yearn, YAM and the Rise of Crypto’s ‘Weird DeFi’ Moment

What do these various memecoins do? Here's the rough TL;DR of the latest tokens to top the DeFi charts.

TeraExchange Reinstated as Swap Execution Facility by CFTC Order

The regulatory body had deemed the exchange dormant because it had no trading activity in the three years following its registration with the CFTC.

Federal Jury Indicts Three Accused of Posing as Pastors in Alleged $28M Ponzi Scheme

The accused were also charged by the CFTC and the SEC for allegedly soliciting funds from over 1,000 people for the fake forex and bitcoin trading fund.

Venezuelans Look to Crypto Dollars for Financial Security

Crypto-dollars offer an alternative to unreliable currencies and the dangers of holding physical cash. They just need to be designed for everyday people.

Huobi Futures to Launch Options Trading This Week, Joining Throng Challenging Deribit

Huobi Futures will offer bitcoin options starting Tuesday, aiming to meet demand from traders for ways to hedge against risks in crypto markets.

Blockchain Bites: Ethereum Classic Attacked, Electrum Wallet Drained and Taxable Microtasks

Signature Bank gave out dozens more PPP loans to crypto firms than previously known, Ethereum Classic has suffered another 51% attack and a digital yuan wallet went live and disappeared.

Bitcoin News Roundup for Aug. 31, 2020

With bitcoin still lagging behind U.S stocks and additional tax guidance in the U.S., CoinDesk's Markets Daily is back for your latest crypto news roundup!

Robinhood, Other Online Trading Platforms Having Log-in Issues

The reported outages affect Robinhood, Charles Schwab, TD Ameritrade and others.

Five CoinMarketCap Executives Depart Binance-Owned Firm

Binance plans to replace the executives with its own staff.

Coinbase Adds Marc Andreessen as Board Observer, Replacing Chris Dixon

The high-profile additions come as Coinbase reportedly eyes a public offering.

Russia’s Crypto Mining Farms Would Have to Report to Government Under Proposed Bill

Russian wants all data centers, including mining farms, to report what they do and how they operate. Local experts say that brings risk.

Signature Bank Gave Dozens More PPP Loans to Crypto Firms Than Previously Reported

Signature Bank gave $20 million in PPP loans to roughly 40 firms in the digital asset space. Only nine loans were revealed in public documents last month.

South Korea’s Central Bank Starts Technical Phase for Digital Currency Ahead of 2021 Pilot

The Bank of Korea is seeking a partner to help develop the architecture for a potential central bank digital currency.

First Mover: Huobi Takes on OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry

Huobi is taking on OKEx in the business of bitcoin futures trading, opening a new front in the ongoing rivalry between the two Chinese-led exchanges.

Meet Torus, the One-Click Blockchain Wallet Trying to Make Web3 as Easy as Chrome

Singapore-based Torus Labs has released a Chrome browser extension for its Torus wallet and added a new product called tKey, a custom version of 2FA.

US Stocks Closing on Bigger August Gain Than Bitcoin

While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is still lagging U.S. stocks over the month.

Someone Just Lost $16M in Bitcoin By Using a Malicious Install of the Electrum Wallet

An Electrum wallet user claims to have lost a fortune in bitcoin after installing an older version of the software from a malicious source.

Huobi and OKEx Battle for Supremacy in China

Cryptocurrency exchange Huobi is taking aim at competitor OKEx in the business of trading bitcoin futures and other derivatives contracts, opening up a new front in a longstanding rivalry that has historically focused on the lucrative Chinese market.

DeFi Is a ‘Complete Scam,’ Says Controversial Entrepreneur Craig Wright

nChain chief scientist Craig Wright has delivered an obscenity-laden interview discussing decentralized finance and stablecoins, calling such projects a "complete scam" and "illegal."

Cryptocurrency Earned From Carrying Out Microtasks Is Taxable, Says IRS Memo

The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms, and yes, such income is taxable.

Crypto Long & Short: What Changes at the Fed and the SEC Mean for Crypto

Chairman Powell’s speech on Thursday highlighted how much the Fed’s role is changing, and that's an opportunity for the crypto industry.

Maria Bustillos on Tokenizing Journalism, the Death of Civil and Rise of Brick House

An early supporter of the now defunct blockchain-based Civil is taking another swing at a writer-owned media collective. She hasn't lost faith in blockchain.

The Case for $500,000 Bitcoin

The Winklevoss brothers make an argument that, in the long run, bitcoin is the only good safe haven.

Ethereum Classic Blockchain Subject to Yet Another 51% Attack

The Ethereum Classic blockchain suffered a 51% attack Saturday evening, its third 51% attack this month, noticed by mining company Bitfly, which also spotted the first attack on Aug. 1. (UPDATE 23:03 UTC): Adding comment from ETC Cooperative in third bullet point.

Mr. Powell, If You Want Higher Inflation, Give People Money

The Federal Reserve wants a little more inflation to keep the economy buoyant. That's hard to achieve when Main Street is so under water.

Oasis Network Announces Chainlink Oracle Integration to Enable Privacy-Focused DeFi Applications

Oasis Network, a privacy-centric data-sharing network, said it will integrate Chainlink’s price feeds into its network.

The End of an Era? Why Bitcoin and MMT Won the Week

Fed Chair Jerome Powell tried to make it seem like the end of an era, but didn’t inspire confidence in the central bank’s ability to lead in the era that comes next.

Chinese Bank Disables Digital Yuan Wallet After Soft Launch Draws Wide Attention

China Construction Bank had quietly opened up the wallet service of China's digital yuan to public users – but has now disabled it shortly after the feature gained wide attention.

Chainlink Acquires Blockchain Oracle Solution From Cornell University

Chainlink has acquired privacy-focused oracle solution DECO from Cornell University. The data feed system is also drafting a second white paper for the project.

Market Wrap: Bitcoin Climbs to $11.5K With Record Amount in DeFi

Bitcoin made gains Friday, both in price and what's locked in DeFi.

The Anxiety Index: 4 Fear Factors Shaping the Economy

From COVID-19 relapses to election insecurity, these factors drive defensiveness up and demand down.

Blockchain Bites: Winklevoss’ Wild Prediction, Bitcoin Miners’ Horde, Ethereum’s ‘Critical Bug’

Mongolian authorities have limited cheap electricity for crypto miners, Venezuela is seeing crypto use outside government-approved exchanges and a “critical bug” has left 13% of Ethereum nodes useless.

Money Reimagined: From COVID Generation to Crypto Generation

Millennials and Generation Zers have many reasons to embrace crypto and reform the financial system in their own interests.

Robinhood Taps Former Fidellity, Wells Fargo Execs as Compliance Heads

Robinhood announced on Thursday it hired Norm Ashkenas and Kelly Zigatis as chief compliance officers of its Financial and Securities teams.

Bitcoin News Roundup for Aug. 28, 2020

With bitcoin and gold reversing losses, CoinDesk's Markets Daily is back for your latest crypto news roundup!

Fed Chair Powell’s Flexible Inflation Views Were Already Priced In

Federal Reserve Chair Jerome Powell did not raise many eyebrows Thursday morning when he announced the U.S. central bank would encourage some periods of inflation above its 2% target in certain circumstances to boost the long-term economy.

Energy Giant Equinor to Cut Gas Flaring With Bitcoin Mining: Report

Equinor will use digital flare mitigation tech from Crusoe Energy at its Bakken oilfield operations in the U.S.

Japanese Financial Giant SBI Holdings Launches Short-Term Crypto Derivatives

Already live on SBI's forex trading platform, the contracts for difference (CFDs) are available in bitcoin, ether and XRP flavors.

First Mover: Binance’s Shrinking Trading Spreads and Bitcoin’s Jackson Hole Fizzle

Traders are getting better fills due to shrinking bid-ask spreads on Binance and other cryptocurrency exchanges. It's a sign of a healthy market.

Bitcoin, Gold Recover After Jerome Powell Speech Shakes Markets

Bitcoin and gold are reversing losses seen on Thursday after the Federal Reserve's announcement of a more relaxed approach to tackling inflation.

Winklevoss Brothers Say Bitcoin Could Reach $500K as the ‘Only’ Long-Term Inflation Hedge

"Bitcoin is ... the only known commodity in the universe that has a deterministic and fixed supply," the Winklevoss brothers wrote in a blog post saying the cryptocurrency may one day hit $500,000.

Data Ownership Should Be About Software, Not Lawsuits

Andrew Yang's "Data Dividend" and the EU's GDPR are not enough to put users back in control of their data.

Binance’s Bitcoin ‘Bid-Ask Spreads’ Tighten as Cryptocurrency Markets Mature

The narrowing gap between bitcoin buy and sell orders on big exchanges like Binance shows an increasing depth to cryptocurrency markets.

DeFi Studio Framework Labs Leaves Stealth Mode With $8M in Seed Funding

Framework Labs says it's already playing a key role in projects including Uniswap and Chainlink.

Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia

Affected mining centers in the area may see a notable increase in electricity costs.

Coinbase Custody and Bison Trails Expand Integration to Enable Staking of Solana Tokens

According to the announcement by Bison Trails, this will allow users on Coinbase Custody to stake their solana (SOL) tokens using secure offline storage.

Buggy Code Release Knocks 13% of Ethereum Nodes Offline

Over 1,000 Ethereum nodes will have to resync or find a new client provider after a critical bug in OpenEthereum’s codebase was revealed.

Polkadot-Based Acala Raises $7M as DeFi Grabs Land on Another Blockchain

Acala, a DeFi startup building on the Polkadot blockchain, has closed a $7 million simple agreement for future tokens (SAFT) led by Pantera Capital.

The Importance of Randomness in the Internet Age

Random numbers might not sound like a public good, but we actually rely on randomness for a host of socially useful things.

Bitcoin Pops and Drops After Powell Introduces Average Inflation Targeting

Bitcoin whipsawed on Thursday after the Federal Reserve’s chairman signaled tolerance for high inflation, as expected.

DCG to Invest $100M in Bitcoin Mining Venture

Blockchain investment firm Digital Currency Group has branched into the bitcoin mining industry though a subsidiary called Foundry.

Chainalysis Report Shows Healthy Crypto Usage in Venezuela

The Venezuelan government's push to create a cryptocurrency-centric economy appears to be working, but perhaps not in the way officials had hoped.

Russia Is Blocking Bitcoin-Related Websites Again

Russian internet censorship agency Roskomnadzor has persuaded a court to block various crypto sites including a popular bitcoin OTC data provider.

Developers Eye Mid-September for Ethereum, Polkadot Bridge Proof-of-Concept

The Snowfork proof-of-concept acts as a two-way bridge between the Ethereum and Polkadot ecosystems, according to the group.

Binance and Oasis Labs Launch Alliance to Combat Crypto Fraud and Hacks

The aim is a comprehensive database of information gleaned from previous hacks and fraud used to proactively fight future ones. The platform supports Bitcoin, Ethereum, TRX and EOS blockchains.

BlockFi Adds an Independent Pricing Partner to Guard Against Flash Crashes

CF Benchmarks will now update prices on crypto deposits at BlockFi every second, allowing the lender to hedge against sudden market moves.

LIVE: CoinDesk Covers Fed Chair Powell’s Jackson Hole Speech

CoinDesk live-blogs Fed Chair Jerome Powell's Jackson Hole speech on inflation and the economy.

First Mover: Monetary Challenges Aren’t Just Virtual as Fed’s Powell Returns to Jackson Hole

Crypto traders are prepping for a speech by Federal Reserve Chair Jerome Powell in Jackson Hole, Wyoming, where inflation is on the agenda.

Bitcoin’s Implied Volatility Falls Sharply Ahead of Jerome Powell Speech

Bitcoin’s options market foresees little price turbulence in the short-term, even as markets await a key speech from the chairman of the Federal Reserve.

WATCH: Fed Chair Powell Lays Out Economic Policy Approach

Federal Reserve Chairman Jerome Powell is expected to announce new measures to control inflation at his annual speech on the U.S. central bank's policy approach during the Jackson Hole symposium Thursday.

Libra Taps Ex-Homeland Security General Counsel as New Legal Chief

The new general counsel is Libra's second in just three months.

New Zealand Stock Exchange Hit Repeatedly By Cybercriminals Demanding Bitcoin

NZX has halted trading for the third day in a row as a result of cybercriminals attempting to extort cryptocurrency.

Why DeFi Pulse’s Key Metric Is So Simple It’s Confusing

DeFi Pulse invented "Total Value Locked." Yet TVL's mechanics have been somewhat confusing to those in the space. Here's how the leading DeFi metric works.

NYSE Can Allow Firms to Raise Funding Through Direct Listings, Says SEC

The New York Stock Exchange may now allow some companies to raise capital via direct listings rather than IPOs.

Deribit Suffers Outage Over ‘Hardware Issues,’ May Miss Thursday’s Options Expiry

Deribit faces missing today's expiry, but said it would "manually adjust" late contracts to reflect the expiry time.

Is This the Blockchain Firm That Will Get Enterprise to Finally Embrace Open Networks?

Concordium, whose CEO is a Volvo board member, is looking to shake up the seemingly glacial world of enterprise blockchain.

LINE Launches Digital Asset Wallet and Blockchain Development Platform

Messaging giant LINE has launched a blockchain platform where developers can issue tokens and run decentralized applications, and a wallet that helps users manage digital assets.

How OSL Became the First Crypto Exchange to Win Over Hong Kong Regulators

Crypto hubs like Hong Kong, Singapore and Japan have a clearer regulatory picture going forward and are progressing faster than the U.S. and Europe.

Mathew D’Souza, Crypto Entrepreneur and Hedge Fund Manager, Dies

Founder, CEO of Blockware Solutions and Blockware Mining, D’Souza passed away on Aug. 21 following a seven-year fight with leukemia.

The Battle to Get Dictator’s Seized Millions to 62,000 Venezuelan Health Heroes

How crypto-powered Airtm is teaming with Venezuela’s opposition government to distribute $18 million in funds the U.S. seized from the Maduro dictatorship, featuring Airtm CEO Ruben Galindo.

NASA Is Bankrolling a Blockchain for Quadcopter Communications in Space

The space agency has awarded $124,800 in funding to Orbit Logic and Fraunhofer Labs' blockchain system proposal, called SCRAMBL.

Coda Protocol Hoping to Expand User Base by Teaching People How to Run Nodes for Free

Marketed as a lightweight blockchain, the Coda Protocol team wants to train node operators ahead of its expected mainnent launch in Q4.

‘It’s Part and Parcel of Crypto’: How Memes Drive Narrative and Value

In 1964, the Canadian media theorist Marshall McLuhan said the "medium is the message." Today, in crypto, the meme is the message.

Fidelity’s Chief Strategist Starts Bitcoin Index Fund

The fund is the latest example of Wall Street veterans cozying up to bitcoin in their rhetoric and capital allocations.

Blockchain Bites: Major Acquisitions, Bitcoin Futures Liquidations and the SEC’s New Rules

FTX acquired Blockfolio, ConsenSys acquired Quorum and police have seized the third largest exchange in South Korea.

Bitcoin News Roundup for Aug. 26, 2020

With bitcoin’s silver lining and Ribbit’s $350 million “Blank Check,” CoinDesk's Markets Daily is back for your latest crypto news roundup!

What to Make of the SEC’s New Accredited Investor Rules

The SEC has formally adopted new accredited investor rules, expanding the group of Americans who can invest in private securities.

Wirex Taps Railsbank to Replace Scandal-Struck Wirecard as Asia-Pacific Card Provider

According to the Wirex’s announcement regarding the partnership, existing Wirex card customers in the region have already been ported to Railsbank-issued cards.

Marathon to Buy Fastblock Mining for About $22M in Stock

The company gains 3,304 ASIC miners through the merger.

‘Boring Is the New Exciting’: How Baseline Protocol Connected With 600 Corporates

Baseline Protocol, where companies can use the Ethereum public mainnet as a common frame of reference, has released its version 1.0.

First Mover: Binance’s New DeFi Futures Let Crypto Traders Bet on Decentralization

Binance's new "DeFi Index Futures" show the push by centralized crypto exchanges to cash in on this year's frenzy in so-called decentralized finance.

The NFT Game That Makes Cents For Filipinos During COVID

Axie Infinity, a NFT trading game running on Ethereum, has proven a pandemic lifeline for a small community north of Manila.

US Democrats Ask Trump Administration for Details on Terrorist Crypto Seizures

Two U.S. Democrats have asked the White House to provide more information on recent seizures of cryptocurrency from terrorist groups, including ISIS.

Canadian Exchange Shakepay Gets Cold Wallet Insurance to Protect Customer Funds

Canadian crypto exchange Shakepay has secured cold wallet insurance through Aon with Lloyd's of London underwriters.

Bitcoin Drop Squeezes Out Weak Derivatives Positions – And That May Be a Good Thing

Bitcoin’s latest price drop may have a silver lining.

Darknet’s Largest Marketplace Still Offline, Fears of Exit Scam Rise

Empire Market, the darknet's most popular marketplace by site traffic, was suddenly taken offline on August 22.

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading

South Korea's third largest crypto exchange, has reportedly been seized by police over allegations it faked most of its trading volume.

Bitwage Rolls Out Tax Calculator Tool as IRS Ramps Up Crypto Pressure

The new tool comes as the IRS is sending more letters to crypto investors.

Australian Payments Firm Sues Ripple for Use of PayID Trademark

NPPA, a major Australian financial services firm, is suing Ripple Labs over allegations of copyright infringement.

Crypto Exchange Coincheck to Launch Japan’s First IEO

Major Japanese crypto exchange Coincheck aims to launch its first Initial Exchange Offering project for Hash Palette, a content distribution platform for Japanese comic and graphic novels, anime and music by next March.

Crypto and Fintech Investor Ribbit Capital Files to Raise $350M for ‘Blank Check’ IPO

JPMorgan is the sole bookrunner. Full story to come.

Forthcoming Yield Farming Project Dispenses With Governance

Everyone may be talking about governance on Ethereum, but the yet-to-launch DeFi project Liquity is taking a contrarian view: zero governance.

Coinbase Taps Marcus Hughes as New Eurozone Chief

Hughes had taken over Coinbase's international legal operations earlier this month.

Brazilian Lawmaker Proposes Crypto Regulations for a Country Devoid of Any

Brazil's crypto scene has been unbanked, unregulated and awash in legal uncertain for its entire history.

BitGo Weighs Building a Sidechain for WBTC as Ethereum Fees Climb

Digital asset trust company BitGo is in the process of “reaching out” to community partners to build an Ethereum sidechain because of rising fees, according to CTO Ben Chan.

An Unintended Consequence of Low Interest Rates? The Big Get Bigger

As companies have to shift their business model to contend with low interest rates, the largest find themselves in a comparatively better situation.

Wave of Bitcoin-Seeking Bomb Threats Sparks Probe By Austrian Police

Police say that "numerous" companies got $20,000 bitcoin ultimatums in the mass SPAM campaign.

Blockchain Bites: Bitcoin’s ‘Rich List,’ Ethereum’s Volatility, DeFi’s Shakeup

The number of addresses on Bitcoin’s “rich list" is reaching new highs while another firm is putting its cash reserves into bitcoin, not a bank account.

Bitcoin News Roundup for Aug. 25, 2020

With bitcoin still under $12K and Aave pulling ahead of MakerDAO, CoinDesk's Markets Daily is back for your latest crypto news roundup!

North Korean Hacker Group Targeted Crypto Firm Using LinkedIn Ad: Cybersecurity Report

According to a report by F-secure, a Finland-based cybersecurity company, hackers from the infamous Lazarus group targeted a crypto firm in an attack last year.

Ethereum Tokens Worth $1B Vulnerable to ‘Fake Deposit Attack’

A software bug that deposits fake balances into cryptocurrency exchange wallets has been detected in 7,772 ERC-20 tokens worth over $1 billion.

Another Bitcoin Lightning Startup Is Working With Visa to ‘Fast Track’ Card Payments

With help from the Visa Fast Track program, LastBit will let users make any purchase with bitcoin, without needing the merchant to actively accept it.

Binance Exchange to List Paxos’ Gold-Backed Cryptocurrency

PAX Gold, a gold-backed digital asset created by Paxos Standard, will soon launch for trading on Binance.

First Mover: Ether Price Swings Make Bitcoin Look Tame as DeFi Speculation Spreads

The success of DeFi on the Ethereum blockchain has brought traders more than just congestion and high transaction fees: Volatility in ether prices.

ConsenSys Acquires JP Morgan’s Quorum Blockchain

Quorum, the enterprise blockchain platform developed by mega-bank JPMorgan Chase, is to be acquired by ConsenSys, the Brooklyn-based Ethereum venture studio.

BitGo Applies to Be Regulated Custodian in New York State

The crypto custody provider has filed paperwork with New York's financial regulator to offer its services in the state.

Blockchain Project Qtum Moves to Boost Network Participation With Offline Staking

The hybrid blockchain will soon undergo a fork enabling network participants to stake and earn rewards from tokens held in offline wallets.

Powell’s Coming Inflation Speech May Weigh Over Dollar and Boost Bitcoin: Analysts

The Federal Reserve chief is expected to bolster expectations of inflation in a keynote Thursday. That may be bad for the dollar but good for bitcoin.

3 Australian Businesses Tap Chainalysis to Monitor Risky Cryptocurrency Activity

Several Australian companies have turned to Chainalysis products in a bid to improve their regulatory compliance and reduce risks for users.

UK Watchdog Eyes Extension of Money Laundering Risk Reporting to Crypto Firms

The Financial Conduct Authority is seeking to oblige more firms, including some working with cryptocurrency, to report how they manage the risks of financial crime.

Australian Conman Extradited Over Alleged Fraud Involving $1.2M in Bitcoin

An Australian serial conman has been extradited to New South Wales to face fraud charges involving over $1 million in bitcoin.

Aave Becomes Second DeFi Project to Overtake MakerDAO for Most Crypto Deposited

DeFi credit market Aave has pulled ahead of stablecoin mint MakerDAO for the title of most collateral staked on Ethereum, according to DeFiPulse.

DeFi Aggregator Bella Protocol Announces $4M Seed Round

Beijing-based decentralized finance (DeFi) aggregator Bella Protocol announced Monday a $4 million seed round led by Arrington XRP Capital.

Binance.US Expands Into Florida, Eyeing Millions of Potential New Traders

Florida's financial regulators granted Binance.US a money transmitters license in July.

How Much Should We Fear Post-Crisis Debt or Inflation? Feat. Adam Tooze

An economic historian and one of Foreign Policy’s “Top Global Thinkers of the Decade” discusses post-COVID-19 global economics and politics.

DeFi Is Just Like the ICO Boom and Regulators Are Circling

DeFi needs to self-regulate or, as happened with ICOs, regulators will punish irrational exuberance in the crypto markets.

FTX Launches Uniswap Index Futures to Meet Surging Demand for DeFi Access

FTX said customers are demanding access to DeFi products.

Huawei Builds Blockchain Platform So Beijing Govt Can Help Manage People’s Data

Huawei’s cloud services arm is helping the Beijing government set up a blockchain platform that would better track and manage people’s data ranging from medical records, real estate registration and real time parking updates.

Moscow May Sell Footage From Public Security Cameras: Report

Moscow authorities can sell and broadcast in the internet video from surveillance cameras in the city, media report

Blockchain Bites: Aave’s Advance, BitMEX’s Block, Turkey’s Bitcoin Trot

Turkey is in a bitcoin bull run, a Fed branch is studying blockchains to possibly support a "digital dollar" and Aave unleashed unsecured borrowing on DeFi.

Brazil’s Central Bank Tasks Group With Laying Out Road Map to Digital Currency Issuance

The 12-member team will submit their findings – and propose a CBDC issuance model – to the central bank in 180 days.

Canadian Software Startup Puts 40% of Cash Reserves Into Bitcoin

Graphic-design software firm Snappa described Bitcoin as "a far superior savings technology."

Bitcoin Miner Layer1 Overstated Industry Vet’s Involvement in $50M Series A Pitch

Peter Thiel-backed Layer1 told potential investors in a recent pitch deck that bitcoin miner maker Canaan’s co-founder Liu Xiangfu joined its team as a key executive – except that’s not what Liu says.

Bitcoin News Roundup for Aug. 24, 2020

With Turkey getting bullish on bitcoin and BitMex blocking users in part of Canada, CoinDesk's Markets Daily is back for your latest crypto news roundup!

Ether Volatility Now Highest in Six Months Compared With Bitcoin’s

Investors are pricing more volatility in ether compared to bitcoin. It's yet another consequence of this year's boom in decentralized finance, or DeFi.

Over $1M in Ryuk Ransomware Bitcoin Was ‘Cashed Out’ on Binance: Report

Researchers reportedly traced bitcoin sent as payments to Ryuk ransomware controllers and found a good portion passed through Binance.

Marathon Brings New Rigs Online, Sees Becoming Cash Flow Positive

The company expects 1,000 more S19 machines by December.

Boston Fed Is Looking at ’30 to 40′ Blockchain Networks for Digital Dollar Experiments

The Federal Reserve Bank of Boston is evaluating more than 30 different blockchain networks to determine if they would support a digital dollar

Binance Taps DeFi Excitement to ‘Fuel’ Expansion Strategy in India

Binance is looking to accelerate business development in India during the local 2020 bull run – with an acute focus on decentralized finance.

First Mover: Anything-Goes Token Market Repudiates Rich-Only Venture Capital Club

Venture capital is no longer just for the rich, as crypto markets let traders bet on early-stage digital-asset startups, risks included.

Ethereum’s Fees Mean Choosing Between a World Computer and a Financial Network

Large public blockchains are destined to privilege the largest, most fee-tolerant transactions at the expense of non-financial uses.

Leveraged Funds Take Record Bearish Positions in Bitcoin Futures

The funds likely boosted short positions to take advantage of attractive "cash and carry" yields.

PBoC Says Digital Yuan Tests Focus on Small Transactions After Rumored Property Sale

The People's Bank of China has apparently played down rumors of a house sale settled with its in-the-works digital currency.

No Collateral Required: How Aave Brought Unsecured Borrowing to DeFi

Aave’s “credit delegation” service makes unsecured borrowing possible in DeFi for the first time. But it’s a long way from replacing your credit card.

Istanbul or ‘Coinstantinople’? Inside Turkey’s Bitcoin Bull Market

The relationship between economic crisis and crypto exchange activity in Turkey appears to have changed, with bitcoin coming out on the winning end.

Crypto Derivatives Exchange BitMEX to Block Ontario Traders

The veteran cryptocurrency derivatives exchange is to block users in Ontario, apparently at the behest of the local securities regulator.

Crypto Long & Short: What Are Regulators Thinking?

Noelle Acheson ponders what regulators have been up to, bitcoin on the Ethereum blockchain, mining diversity and more.

Why Are Traditional Investors So Hungry for Yield Curve Control?

When FOMC minutes suggested the Federal Reserve might not employ yield curve control, the markets reacted angrily.

People Aren’t Buying the ‘Great American Recovery’ Narrative

Despite the stock market returning to all-time highs, many can’t shake the feeling that all is not well in the economy.

Hong Kong Regulator Gives Crypto Exchange OSL Tentative Licensure Approval

OSL Digital Securities was the first crypto exchange to apply for the SFC's opt-in license last November.

Market Wrap: Bitcoin Dips to $11.6K, ETH Options Predict Price Below $400 by End of Year

Bitcoin’s price is trending down while ether options traders expect bearish moves to come.

Winter Is Coming: Examining the Economy’s Eight-Body Problem

From the devastation of the service industry to never-ending central bank intervention, these factors make predicting the future of the economy nearly impossible.

Barstool’s Dave Portnoy Is Bad at Trading Cryptocurrency

The day trader now owns zero bitcoins after one week of trading.

Open Source DeFi Data Platfrom DIA Raises $15M Through Token Sale

Marketed as an open-source data aggregator for DeFi markets, DIA announced on Friday that the $15 million were raised through selling the firm’s governance token.

Uber’s Former Security Chief Charged With Trying to Conceal Hack Using Bitcoin

Joseph Sullivan allegedly insisted that the hackers sign NDAs in exchange for $100,000 in bitcoin hush money.

Bitcoin Mining Facility With Room for 50,000 Rigs Set to Launch in Kazakhstan

The 180 megawatt facility that will be able to host 50,000 bitcoin mining rigs is set to launch sometime in early September.

Ethereum Classic Labs Plans ‘Defensive Mining’ Strategy as Hashrate Plummets

The network’s hashrate has fallen 74% since January.

Polychain Capital’s Original Crypto Fund Raises an Additional $19.5M

The fund has raised $307 million in its four year history of investing in crypto and SAFTs.

Blockchain Bites: Bitcoin’s Weary Bulls, ETC’s Action Plan, INX’s IPO

INX is gearing up for a landmark IPO while 1 billion tether jumped from Tron to Ethereum.

Money Reimagined: DeFi-ing History

For clues to the future of decentralized finance, it's useful to look at waves of financial innovation past.

Bitcoin News Roundup for Aug. 21, 2020

With bitcoin still pulling back and LND learning to wumbo, CoinDesk's Markets Daily is back for your latest crypto news roundup!

Los Alamos Scientists Develop AI to Fight Cryptojacking

Their neural network works faster and more reliably than non-AI systems, researchers said.

0x Price Hits Two-Year High on Hopes Falling Ethereum Fees Will Spur DEX Trading

Markets excited by the prospect of declining Eth fees may have caused a surge in 0x – an Ethereum-based DEX that will benefit from decongestion.

First Mover: Wacky Bitcoin-to-DeFi Crypto Markets Might Be New Home of Capitalism

Cryptocurrency markets from bitcoin to DeFi might be full of rampant speculation, but they also might be keeping the fires of capitalism lit.

An AWS Virtual Machine Is Infected With Mining Malware. There Could Be Others

A monero mining script has been embedded in a public instance of an AWS virtual machine. How many others are similarly infected?

These Illicit SIM Cards Are Making Hacks Like Twitter’s Easier

SIM cards that spoof specific numbers, prevent tracking, and alter users voices are making social engineering attacks like those on Twitter easier.

Bitcoin Options Open Interest Nears All Time High – But Rise in Puts Could Presage Drop

While soaring open interest can be a sign of a continuing trend, the offloading of calls suggests bitcoin could correct further.

Bitcoin in Cuba: A Local YouTube Influencer Explains How It Works

Bitcoin in Cuba is "growing and gaining strength," according to YouTube influencer Erich García Cruz. Here's how Cubans are using crypto.

Swiss Crypto Firms Say First Automated, AML-Compliant Bitcoin Transfer Completed

The new bitcoin transaction automatically complies with the FATF Travel Rule and will save intermediaries from doing it all manually.

Bitcoin Has Lost Its Way: Here’s How to Return to Crypto’s Subversive Roots

Bitcoin has traded its radical potential for the prospect of mainstream adoption. It's not worth it, writes Rachel-Rose O'Leary.

INX Crypto Exchange to Launch $117M IPO Next Week

INX Ltd. said it will launch its long-awaited landmark IPO as soon as Monday, capping a nearly two-year journey for the startup cryptocurrency and security token exchange.

VC-Backed Crypto Exchange Mexo Launches in Latin America

Mexo, a cryptocurrency exchange designed for the Latin American user, launched on Thursday.

The Most Pro-Bitcoin Politicians in the US

Whether fighting for reduced taxes for staking or regulatory sandboxes for tokens, these politicians break the mold when it comes to digital assets.

Market Wrap: Bitcoin Breaks $11.8K; BTC in DeFi Doubles in August

Bitcoin price is on the upswing as the amount of the world’s oldest cryptocurrency locked in DeFi jumps.

Tron Loses 23% of Its $4.3B USDT Reserves to DeFi Hotbed Ethereum

A "3rd party" crypto exchange ordered the swap. Signs point to Binance.

ETC Labs Rolls Out Fixes to Thwart Further 51% Attacks on Ethereum Classic

Shaken by weeks of network-overwhelming hacks, ETC Labs has outlined its security response.

Ready to Wumbo: LND Enables More, Larger Bitcoin Transactions on Lightning

LND now supports Lightning Network wumbo channels. These channels have the capacity to hold more funds, and users can send larger bitcoin transactions.

US Congressman Tom Emmer Will Accept Crypto Donations for Reelection Campaign

Minnesota Representative Tom Emmer will accept crypto donations for his campaign, facilitated through BitPay.

Blockchain Bites: Ethereum’s Fees, Bitcoin’s Pullback, Ren’s Great Week

yEarn.finance's governance token has "flippened" BTC, for the first time ever, while stablecoins may become unbalanced if traders ditch a “market-neutral strategy.”

Thailand Is Prepping to Move Judicial System Records to a Blockchain

The Office of the Court of Justice is developing its blockchain as part of Thailand's court digitization campaign.

Bitcoin News Roundup for Aug. 20, 2020

With bitcoin taking a back seat to the DeFi boom and data platforms aiming for the moon, CoinDesk's Markets Daily is back for your latest crypto news roundup!

First Mover: Collapsing Bitcoin Futures Premium Offers Glimpse of New Digital Money Market

Dollar-linked "stablecoins" are being used in exotic cryptocurrency trades, similar to the way money markets serve as liquidity on Wall Street.

Ethereum-Based MadNetwork Aims to Clean Up Advertising’s ‘Programmatic Cesspool’

MadNetwork, an adtech transparency project with a Layer 2 solution built on Ethereum, emerges from stealth today with a testnet coming next month.

Binance Launches DeFi Staking With Cryptos Kava and Dai

Users of crypto exchange Binance can now earn interest on Dai and Kava as the exchange's decentralized finance (DeFi) staking platform goes live.

It’s Now Cheaper to Buy One Bitcoin Than to Buy a Single DeFi Token YFI

Bitcoin has been superseded as the most valuable cryptocurrency – for the first time ever – by the YFI governance token from DeFi protocol yEarn.

BlockFi Raises $50M From Universities, NBA Star, Others as Crypto Lending Soars

BlockFi, a major player in the crypto-lending sector, has now raised nearly $100 million in the past 12 months.

Bitcoin Risks Deeper Drop if Dollar Rebounds

The bitcoin price could pull back even further should the dollar stage a full-blown recovery on the back of the latest Fed meeting.

Algorand’s Move into DeFi Gives ALGO Price a Boost

Markets have responded well to Algorand's plans to get in on the DeFi action – the native ALGO token has experienced a jump in price.

OMG Price Doubles as DeFi and Record Ethereum Fees Create ‘Perfect Storm’

OMG has more than doubled in the past seven days as record Ethereum fees lead investors to look more closely at layer-2 solutions.

Algorand Readies on-Chain Smart Contracts as the Summer of DeFi Rolls on

The "stateful" smart contracts are a watershed for DeFi projects, Algorand claimed.

High Ethereum Fees Push Tether to Its Eighth Blockchain, OMG Network

Tether’s USDT is now live on scaling blockchain OMG Network in a bid to decrease pressure on its parent blockchain, Ethereum.

Mirror Trading Clients Should Take Their Money and Run, South African Regulator Advises

FCSA said Mirror Trading's self-proclaimed 10% monthly returns "seems far-fetched and unrealistic" as it opened an investigation.

Ren Just Had a Great Week as Demand for Bitcoin on DeFi Rises

Prices for ren, the token for the RenVM DeFi network, experienced a great week, as the demand for bitcoin rises on DeFi.

Market Wrap: Bitcoin Sinks to $11.6K as Ether’s Gas Keeps Rising

As bitcoin’s price falls, Ethereum’s fees rise.

Hawaii Welcomes Crypto Exchanges Back With New Regulatory Sandbox

ErisX and bitFlyer are among the 12 crypto exchanges piloting Hawaii’s digital currency regulatory sandbox, that will allow selected entities to do business in the state without its stringent money transmitter license for a two-year period.

Stablecoin Demand May Drop if Traders Abandon Bitcoin ‘Cash and Carry’ Strategy

Institutional demand for stablecoins may cool because yield on “carry trades” has been cut in half since Monday.

A Former Beauty Queen Raised $12M to ‘Revolutionize’ Cannabis. The Courts Can’t Find Her

Here's how a weed-smoking model raised millions of dollars with a 2017 token sale in California, then disappeared during an ongoing lawsuit.

S&P5 vs. S&P 500: The Real Story of the Stock Market Recovery

The S&P 500 has recovered to hit new all-time highs but how real is it, and how are leading finance minds interpreting the recovery?

The Bitcoiners Who Live ‘Permanently Not There’

The crypto-rich are just like the usual rich: They will do whatever it takes to avoid paying taxes including moving abroad. But bitcoin makes that much easier.

Russia’s New Blockchain Elections Remain Centralized

There will be two blockchain voting pilots for Russia's off-year election next month.

Blockchain Bites: Bitcoin in Space; Prime Brokerage Race; Nodes You Can’t Trace

The OCC's door is open for banks looking to discuss getting involved in crypto services, a Russian bank issued a token-backed loan and bitcoin has been sent from space.

Pro-Bitcoin Senate Candidate Wins Primary Race in Wyoming

Cynthia Lummis, a former U.S. Representative and bitcoin advocate has won her primary race to join the U.S. Senate in Wyoming.

Bitcoin News Roundup for Aug. 19, 2020

With bitcoin pulling back from its bull run and the emergence of YAM-inspired “Spaghetti Money,” CoinDesk's Markets Daily is back for your latest crypto news roundup!

Chainlink to Provide Data for Farming Insurance Startup Arbol

Chainlink will provide climate data for insurance startup Arbol’s weather derivatives. Small to medium sized firms can use the Ethereum-based dapp for hedging natural events.

First Mover: Money Legos Turn ‘Exuberant’ as Chainlink Stripped of ‘DeFi’

This year's growth in the cryptocurrency subsector DeFi has been so remarkable that some analysts are now calling the phenomenon "exuberant."

Barclays’ Former Russian Bank Has Issued a Token-Collateralized Loans

Expobank has issued its first loan using WAVES tokens as collateral – the bank are now estimating what future demand could be.

NFTs Are Boring; Here’s How to Make Them Fun

Crypto collectables have a limited audience, but the underlying technology behind NFTs can create novel online experiences and games for everyone.

Bitcoin’s Bull Run is Slowing – Pullback Now Expected

Some analysts are now predicting further price corrections after bitcoin fell back below the $12,000 milestone on Tuesday.

UK Regulator Grants License to Digital Security Exchange Archax

The U.K. watchdog has granted several licenses to Archax that will allow it to become a "one-stop-shop" for the digital security space.

$200m Staked in YAM-Inspired DeFi Protocol in Under 12 Hours

The DeFi craze continues as investors stake $200 million in a new yield farming protocol that's not even 12 hours old yet.

Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars

Company executives say Riot Blockchain is on track to become cash flow positive later this year.

Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees

Bitcoin heads to bearish territory while the Ethereum blockchain’s gas fees continue to be pricey.

Blockchain Privacy Firm HOPR Releases Mixnet Hardware Node for Ethereum

HOPR Hardware Nodes validate transactions on the Ethereum blockchain – without any reliance on cloud servers controlled by Amazon and Alibaba.

How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann

A conversation with a VC about changes in fintech, crypto and how public market trends shape the startup scene.

Binance-Owned WazirX Announces DeFi Project With Matic

The exchange has opted for Matic instead of Ethereum’s network, which is currently dominating the DeFi space because of "high gas costs."

Why the Decentralized Web’s Development Is Unstoppable

The time to hone in on the “New Internet” is now.

One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station

SpaceChain said the test advances its dreams of building a decentralized blockchain infrastructure in space.

Bequant, Now in Crowded Prime Brokerage Race, Adds Signature Bank Integration

In a newly crowded market, Bequant is still adding features to the suite of services it's been building for the past two years.

Russia, With Bitcoin Playing Bit Part, Tried to Hack 2016 US Election, Senate Report Finds

Bitcoin may have been the salacious pretext to Marina Butina's fling with Patrick Byrne.

DeFi-Yield-Hunting Token YFI Explodes to $11K From $32 in One Month

A governance token for DeFi investment protocol yEarn Finance has shot up to over $11,000 despite barely being a month old.

Blockchain Bites: Hashrates Drop, Bitcoiners Hodl and an Open Letter to Bankers

Floods are dampening bitcoin mining hashrates, Ethereum Classic may be thrown off its most liquid exchange and bitcoin is moving off exchanges.

Dust Attacks Make a Mess in Bitcoin Wallets, but There Could Be a Fix

When dust settles in your home, you sweep it up. But what happens when dust makes its way into your Bitcoin wallet? Cleaning it up may not be so simple.

Bitcoin News Roundup for Aug. 18, 2020

With bitcoin's exchange reserves at a 20-month low and its hashrate getting soaked in Sichuan, CoinDesk's Markets Daily is back for your latest crypto news roundup!

The OCC’s Crypto Custody Letter Was Years in the Making

The Office of the Comptroller of the Currency has been evaluating the cryptocurrency space for years, well before it publicly announced banks could provide services in the field last month.

Binance Credited With Helping Take Down Ukraine Crypto Laundering Group

Binance began pouring more resources into its data analysis and laundering detection capabilities earlier this year.

Crypto Exchange LGO Integrates With Fireblocks to Speed Up Trading Times

LGO says its partnership with Fireblocks will speed up slow deposit times – an opportunity cost for crypto exchange users.

First Mover: Bitcoin Passes $12K, Dollar Worries Grow, OMG Jumps, Portnoy’s Orchid #Pump

Bitcoin rises, Warren Buffett buys gold miner, Wall Street dollars worry grow, OMG price jumps, Orchid gets #pump tweet, Ethereum Classic delisting.

Elliptic Adds Monitoring Support for Binance Chain and BNB

Ellipitc is only the second crypto analysis company to support Binance's namesake blockchain.

Bitcoin Holding Sentiment Strongest in Nearly Two Years

The amount of bitcoin held on crypto exchanges is down to a 21-month low, a sign investors are feeling bullish.

Chainlink Up Nearly 1,000% Since ‘Black Thursday’ Crash

Chainlink's LINK token has surged nearly 1,000% over the past five months – some are worried the market is beginning to overheat.

Game Show Winner Loses $39K in Bitcoin Facebook Scam

A former winner of Deal or No Deal has lost nearly $40,000 after a bitcoin investment company turned out to be a Facebook scam.

Binance Charity Pledges $20K to Beirut Explosion Relief Efforts

Binance's charity arm is donating $20,000 to the victims of an explosion that rocked Lebanon's capital earlier this month.

Top Bitcoin Mining Pools See 15% Hash Rate Drop Amid Continuous Rainstorms in China

Major Chinese bitcoin mining pools are each seeing daily hash rate drops between 10 to 20% as continuous rainstorms in Sichuan disrupt power supply.

Nvidia Accused of Trying to Discredit Ex-Employee in Crypto Mining Revenue Trial

Investors suing Nvidia have opposed a motion from the U.S. chipmaker that would shut out the testimony from an ex-employee.

Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked

Bitcoin experienced a big jump Monday as investors continue to drop crypto into DeFi.

Capital One Files Patent for AI That Would Slice, Dice Social Media to Find Crypto Trading Picks

“It would be impossible for human traders to track” crypto's 24/7 informational onslaught on their own, Capital One said.

OKEx Mulls ETC Delisting After Losses From Two 51% Attacks

OKEx admitted a total loss of approximately $5.6 million from the recent Ethereum Classic 51% attacks and could delist ETC from its exchanges.

What’s Actually Happening With Inflation Right Now

The numbers are all over the place and the narratives are even more complicated, so what’s the real story with inflation?

An Open Letter to Our Dear Bankers: Be Brave

It's time to have a conversation about crypto, dear banker.

Grayscale’s Bitcoin Cash and Litecoin Trusts Begin Trading Publicly

Grayscale now has six publicly traded crypto investment vehicles, all trusts.

Bitcoin Surges Past $12,000 to New 2020 High

This is the second time the bitcoin price has soared past the $12,000 milestone in 2020 – it still has a way to go before it closes in on the 2019 record.

Blockchain Bites: Bitcoin on DeFi and DeFi on Bitcoin

More bitcoins are being tokenized than mined, DeFi is coming to the Bitcoin system and a former Prudential Securities CEO thinks crypto is a safe bet.

Bitcoin News Roundup for Aug. 17, 2020

With bitcoin’s hashrate reaching record highs and litecoin hoping to Mimblewimble its way into new users' wallets, CoinDesk's Markets Daily is back with your latest crypto news roundup!

Huobi Launches Consortium of DeFi Providers and Platforms With MakerDAO, Compound

Huobi has launched a new consortium with MakerDAO and Compound to promote decentralized finance.

Blockchain Venture Capital Firm SPiCE VC Taps Coinbase as Digital Asset Custody Partner

SpiceVC announced it has signed an agreement with Coinbase Custody, under which Coinbase will serve as the digital asset custodian for the Spice token.

First Mover: Litecoin and Mimblewimble, Ether Futures, Chainlink, Curve

Litecoin's Mimblewimble upgrade sparks optimism, Ether futures hit records, Chainlink developers take profits.

ING Bank, Rolls Royce Join Alliance to Promote Blockchain Education

Both Rolls Royce and Ing Bank have signed up to an industry body that supports student developers interested in building their own blockchain projects.

Bitcoin Price Holds Below $12K Even as Hash Rate Hits All-Time High

Bitcoin's hash rate has been soaring to record highs and some analysts say they think it might kick price out of the new rut.

Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches

"The upcoming privacy upgrade would leave litecoin valuations around all time highs," one industry analyst said.

APIs Will Decentralize CBDCs

Central banks must create API access for CBDC experiments if they're serious about full inclusion, market resilience and system efficiency.

Pantera Tells SEC Its Crypto Fund Has Raised Nearly $165M

Pantera has informed the SEC its crypto fund has received a total of $164.7 million from investors with portfolios worth over $5 million.

Bitcoin DeFi May Be Unstoppable, What Does It Look Like?

Bitcoin veterans are about to join the decentralized finance (DeFi) bull run, and they are taking a very different approach than Ethereum fans.

Ex-Prudential Securities CEO Calls Bitcoin a ‘Safe Haven’

George Ball, who claimed himself as a Bitcoin and blockchain opponent, said that bitcoin or another cryptocurrency is “very attractive” both in the long term and short term.

Crypto Long & Short: The Surprisingly Sunny Outlook for Crypto Hedge Funds

Bitcoin returns are beating crypto hedge funds, but other recent developments point to more favorable tailwinds for those funds in the long term.

Meet a Freelance Cypherpunk Developer in Africa

Fodé Diop, founder of the Dakar Bitcoin Developers meetup in Senegal speaks with CoinDesk’s Leigh Cuen about bitcoin in Africa.

Is Asteroid Mining Really Our Best Argument for Bitcoin Over Gold?

After a Winklevoss encounter highlights Elon Musk’s space mining dreams, maybe we should remind ourselves of the right-here-at-home benefits bitcoin brings.

15 Ways to Stay Sane While Trading Crypto

24/7 markets. Big price swings. Hacks. Trading crypto can be tough on the nervous system. Here, based on interviews with leading traders, are tips for maintaining equilibrium.

What Venezuelans Think About Bitcoin and American Media

Venezuelan journalist Javier Bastardo and CoinDesk’s Leigh Cuen talk about cryptocurrency and the American media industry.

Ether’s Rally to 25-Month High on DeFi Boom Drives Record Demand for Derivatives

Record open interest in ether derivatives suggests the recent price rally has legs.

Bitcoins Are Being Tokenized Faster Than They’re Mined as DeFi Craze Continues

The decentralized finance craze is causing demand for tokenized bitcoin to surge.

Here Comes the Most Bizarre Bull Market Yet

Social unrest on the one hand, “Degen Finance” on the other. Strap in for a very weird bull run.

Enterprises Would Use DeFi, if It Weren’t so Public

For DeFi to go mainstream, it needs to adopt the privacy large enterprises require.

PayPal Co-Founder, DCG-Backed BTC Mining Firm Layer1 Accused of Patent Infringement

Data center power management firm Lancium filed a lawsuit against Layer1 today, alleging that the BTC mining firm’s operations had infringed upon its patent.

Market Wrap: Bitcoin Bounces to $11.8K as Ether Option Traders Go Bearish

Bitcoin broke through $11,800 Friday while traders are anticipating an ether fall based on the options market.

Newest DAO Project Was Thrown a Curve, but the Team Is Rolling With It Anyway

An anonymous DeFi user deployed Curve Finance’s DAO and token smart contracts without the team’s permission, but the Curve team is adopting it anyway.

Fortnite vs. Apple and Google Is the Internet’s First ‘World War’

What’s truly at stake in Epic Games' battle with Apple and Google is the power to shape and profit from the future of digital experiences.

A WeChat Ban Should Be the Moment for Decentralized Tech. But It’s Not.

President Trump’s threat to ban WeChat could disrupt the communication of millions of people. Decentralized technology is one solution, but will people really use it? Not necessarily, industry watchers say.

Lending Protocol Aave Eyes Tokenized Mortgages With Launch of V2

Tokenized mortgages may be coming to decentralized finance (DeFi) following Aave v2’s specification announcement Friday.

Money Reimagined: How a Dangerous Idea Could Work

Modern Monetary Theory, which says deficits don't matter, has some truth to it. But putting it into practice would be risky without modern controls.

Long-Time Analyst Bove Says Dollar’s Dominance Challenges Include Cryptocurrency

The noted says a possible end to U.S. dollar-ruled financial system "frightening, yet the probability is quite high."

Blockchain Bites: Ripple’s Rebuff, DeFi’s ‘Degens’ and China’s CBDC

Both the U.S. and China are advancing on their central bank digital currency (CBDC) designs while a Bitcoin developer created a new programming language.

Masternodes in Legal Limbo as Regulators Fail to Act

U.S. regulators have yet to issue clear guidance about whether masternode operators are breaking securities laws.

Bitcoin News Roundup for Aug. 14, 2020

With traditional finance and crypto traders both enjoying market madness, CoinDesk's Markets Daily is back with your latest crypto news roundup!

Crypto Exchange INX Plans $117M US IPO With Small Israeli Underwriter

Crypto exchange INX has told the SEC that its upcoming IPO will be underwritten by a relatively low-profile Israeli company called A-Labs.

Crypto Savings Accounts Are Coming to Fintech Firms That Use Wyre

Crypto payments startup Wyre is offering white-labeled savings accounts that dole out interest on crypto, the company announced Friday.

First Mover: As Wall Street Goes Topsy-Turvy, Crypto Traders Are Bullish as Ever

Crypto traders are enjoying their own version of the market’s madness, from bitcoin’s bull run to the collapse of Yam to Dave Portnoy.

CME Rises in Bitcoin Futures Rankings as Institutional Interest Grows

Institutional exchange CME has become the third-largest bitcoin futures exchange by number of open contracts.

Marathon Signs New $23M Contract with Bitmain for 10,500 Bitcoin Mining Rigs

The $23 million purchase will see Marathon's bitcoin mining capacity increase drastically, turning it into one of the largest miners in North America.

Singapore’s Central Bank Backs New Code of Practice for Crypto Companies

The guidance is aimed to assist regulatory compliance and enhance crypto industry conduct under the city-state's payment laws.

Ripple CEO Hits Out at Reports Claiming Firm Is Pivoting From Interbank Payments

The CEO of Ripple Labs, Brad Garlinghouse, has criticized the Financial Times for saying the XRP creator plans to move away from interbank payments.

Attorney Ordered to Pay Out $5.2M for Bitcoin Escrow Mishap

The New York attorney released the funds without authorization and lost investment firm Benthos Master Fund $4.6 million intended for a bitcoin purchase deal.

China to Launch Major Expansion of Digital Currency Trials

China is said to be planning additional testing of its digital yuan across a number of developed regions including Hong Kong.

BitMEX to Mandate Identity Verification for All Traders Amid Evolving Industry Regulations

The change comes with a six-month “grace period” ending in February.

Boontech, Founder Pavithran Settle SEC Charges Over Fraudulent ICO and Registration Violations

Marketed as a “decentralised job marketplace,” Boontech and its founder Rajesh Pavithran have settled charges of fraud and registration violation brought by the SEC.

Anchorage Is Streamlining Custody of Tokensoft’s ERC-1404 Security Tokens

The new partnership will add direct custodial support for Arcoin and INX, the upcoming INX Limited security token.

Blockchain Bites: Coinbase’s Loans, Ethereum’s Fees, YAM’s Bug

Ethereum fees and miners' profits are at all-time highs. Coinbase is offering bitcoin-backed loans and the Tor Network is subject to a crypto scam.

Mining Firm Hut 8 Reports 28% Drop in Q2 Revenue Following Bitcoin Halving

Bitcoin mining firm Hut 8 reported a sharp drop in revenue. However, the rising value of the firm's BTC holdings helped it finish the quarter in the black.

Bitcoin News Roundup for Aug. 13, 2020

With the price of BTC bouncing and ETH miners on the rise, CoinDesk's Markets Daily is back for your news roundup!

US Prosecutors Attempt to Seize Bitcoin Allegedly Tied to Al Qaeda

The U.S. Department of Justice is trying to seize bitcoin from 155 addresses it alleges were used by Al Qaeda to fund terrorism.

New Jersey Man Accused of Paying $20K in Bitcoin to Have Sex Crimes Victim Killed

A New Jersey sex offender is now accused of paying a hitman in bitcoin to murder his 14-year old victim.

Crypto Data Site CoinMarketCap Has Gone Offline

The website for popular price aggregator CoinMarketCap appears to be down with all data and news feeds currently inaccessible.

4 Myths About CBDCs Debunked

As central bank digital currencies have risen up the policy agenda, myths have emerged to confuse what they can and can't deliver.

Crypto VC Firm Assesses the ‘State of Blockchain Governance’

Greenfield One, an early-stage venture capital firm, just published a comprehensive new resource on the topic of blockchain governance.

Bitcoin Recovers From $11.3K Despite Losses in European Stocks

Bitcoin has shrugged off a drop to $11,300 for the third day running, possibly buoyed by gold's recovery on Wednesday.

Elliptic Teams With Fireblocks to Automate Security and Compliance in Crypto Industry

Elliptic has joined forces with Fireblocks to automate anti-money laundering compliance for their shared institutional clients.

Why It’s Time to Pay Attention to Mexico’s Booming Crypto Market

In a trend that is largely unnoticed outside of the country, Mexico is embracing cryptocurrency at a breakneck speed.

First Mover: Ethereum Faces Inflation Problem as Gas Fees Soar

Ethereum "gas" prices are soaring, and cryptocurrency traders say it's a reflection of congestion on the blockchain that's now starting to slow down transactions on decentralized exchanges.

What Bitcoin Can Learn From Gold About Staying ‘Clean’

A proposal to adapt gold's "good delivery" system to bitcoin, with the aim of bringing more investors into the market and boosting liquidity.

Goldman Sachs Sells $6.5M of Shares in Ripple-Partner MoneyGram: SEC Filing

Goldman Sachs and its subsidiaries have sold 9% of their total position in the Ripple-partner MoneyGram – worth approximately $6.5 million.

Daily Profitability for Ethereum Miners Hits Over 2-Year High

The surge in profitability comes after rises in transaction fees and prices of the ether cryptocurrency.

YAM’s Market Cap Falls From $60M to Zero in 35 Minutes

YAM’s market cap fell to zero just minutes after the co-founder pronounced the yield farming project dead. A rescue plan is now on the cards.

DeFi Meme Coin YAM Succumbs to Fatal ‘Rebase’ Bug

DeFi meme coin ‘YAM’ has lost control of its on-chain governance feature following a reported bug.

Fed Reserve Analysts Say Common Digital Currency Distinction ‘Problematic’

Bitcoin blurs the boundaries of a widely used classification of digital currencies and the distinction should be retired, say Fed experts.

Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China

Nigerian entrepreneurs are increasingly using bitcoin as a way to trade internationally, noting its significant benefits over legacy financial systems.

Link Price Surges 32% to Overtake Bitcoin Cash as 5th-Largest Crypto by Market Cap

The native token of decentralized oracle network Chainlink (LINK) has just claimed a top-five spot in terms of market value.

Decentralized Finance Frenzy Drives Ethereum Transaction Fees to All-Time Highs

Average transaction fees broke all-time highs as median fees hover just below its high.

Uniswap’s August Volume Topples July $1.76B Record in Less Than Two Weeks

Uniswap reported $TK billion in monthly volume as of Wednesday.

Coinbase to Offer Bitcoin-Backed Loans to US Customers

Coinbase will allow U.S. retail customers to borrow fiat loans against as much as 30% of their bitcoin holdings starting in the fall.

Stacks Foundation Will Soon Put Those 100M Tokens to Work

The blockchain governance foundation is stacking stacks.

Market Wrap: Bitcoin Rebounds to $11.5K; Ethereum’s Gas Woes Worsen

Bitcoin’s price is bouncing back as Ethereum fees cause problems.

Token Sales Are Back in 2020

As the price of bitcoin rises, token sales have become trendy once more. Here's how Avalanche, Polkadot and NEAR have fared in 2020.

#SupplyGate and the Battle to Frame Crypto’s Next Bull Run

Why the ether supply dust-up was about much more than the supply of ether.

Wealthsimple, Robinhood of the North, Jumps Into Canada’s Crypto Sandbox

The millennial-friendly investments app is working with regulators on its upcoming bitcoin and ether trading service.

Tor Network Compromised by Single Hacker Stealing Users’ Bitcoin: Report

The unknown hacker is using Tor exit relays to remove encryption on bitcoin mixer services and change wallet addresses from users to their own.

Blockchain Bites: Avanti’s New Money, DeFi Deepens and ‘How Much Ether?’

Caitlin Long has a new take on money. Russia wants to de-anonymize crypto. And Coinbase wins in court.

Sirin Labs Founder Sued Over Unpaid $20M Factory Bill for Finney Blockchain Phone

The head of blockchain smartphone startup Sirin Labs, was sued over unpaid bills.

Deposits in ‘Monetary Experiment’ Meme Token YAM Break $460M

YAM, DeFi’s latest farm-fresh product, has never been audited. Yet, that’s not holding back traders from pumping the token’s price to a high of $138 since it launched Tuesday.

Bitcoin News Roundup for Aug. 12, 2020

With bitcoin prices sitting around $12K and Russia developing “Transparent Blockchain” AI, CoinDesk's Markets Daily is back for your latest crypto news roundup!

What Today’s Robinhood Rally Has in Common With the Last Crypto Boom

The pandemic's "Robinhood Rally" has echoes of the 2017 crypto boom and could presage new investment trends in digital asset and traditional markets.

Ex-NYSE Broker Accused of Running $33M Crypto Scam Pleads Not Guilty

Michael Ackerman pleaded not guilty to one count of wire fraud for his involvement in the Q3 investment club that allegedly defrauded 150 investors.

First Mover: How a DeFi Trader Made an 89% Profit in Minutes Slinging Stablecoins

So-called stablecoins like tether and USDC are $1 tokens in theory, but a complex arbitrage transaction seems to have netted one trader an 89% profit in just minutes.

Russian Financial Crime Agency Plans AI Tool to Link Crypto Transfers to Users

Russia's anti-money laundering agency Rosfinmonitoring has already built a prototype blockchain analytics tool, according to a report.

Grayscale Tells SEC Its Bitcoin Trust Rose $1.6B Over Six Months

Crypto investment firm Grayscale has told the SEC that the dollar-value of assets in its flagship bitcoin fund increased 90% to over $1.6 billion.

The Linux Foundation Wants Open-Source Tech to Address Future Pandemics

The Linux Foundation hopes open-source apps will play a key role in tracing exposure to diseases like COVID-19 while being fully transparent.

Asset Manager NYDIG Raises $5M for Third Bitcoin Fund in 2020

NYDIG has set up another bitcoin fund, raising $5 million from accredited investors – it's unclear what differentiates this one from its previous funds.

Appeals Court Backs Coinbase in Bitcoin Gold Fork ‘Breach of Contract’ Lawsuit

A California appeals court has backed a prior judgement that the cryptocurrency exchange wasn't obliged to to support the Bitcoin Gold hard fork in 2017.

Unpacking the Avit, Avanti Bank’s New Digital Asset Being Built With Blockstream

Avanti says the Avit will not encounter the legal, accounting or tax hurdles of stablecoins, but it’s not yet clear where the asset will fit under U.S. law.

Some Traders Now Taking Bets Ether Will Break $1K by December

Some option traders are now betting ether will rise to $1,000 by year’s end.

How Much Ether Is Out There? Ethereum Developers Create New Scripts for Self-Verification

Ethereum and Bitcoin advocates have engaged in spirited exchange since Friday to answer an ostensibly simple question: What’s the total supply of ether?

Joe Rogan for Fed Chair! Feat. Hugh Hendry

Former hedge fund manager and financial dissident gives his take on what ails the U.S. economy and why the Federal Reserve should be more, not less, irresponsible.

Coinbase Exits Industry Lobbying Group in Protest Over Recent Unspecified ‘Decisions’

Coinbase cited recent board decisions that could "irreperably impair" the Blockchain Association.

Blockchain Bites: MicroStrategy’s $250M Bitcoin Bet, India Booms, Banks Open to Custody

MicroStrategy bets $250 million on Bitcoin's safe haven thesis. Indian crypto is booming. And David Marcus has a new role at Facebook.

Elliptic Hires Former Revolut CFO as it Prepares for Asia Expansion

David MacLean will oversee the crypto tracer's finance and personnel operations.

Binance Denies Report It Was Blocked From Installing Its CEO on Board of Failing Bank

Crypto exchange Binance said the FMA had not rejected an application for CEO Chanpeng Zhao to join the board of the now-defunct Union Bank.

Bitcoin News Roundup for Aug. 11, 2020

With bitcoin increasingly acting like gold and one company betting a quarter of a billion dollars on BTC, CoinDesk's Markets Daily is back for your news roundup!

Alchemy Goes Public With Developer Platform in Bid to Grow DeFi Ecosystem

Blockchain infrastructure startup Alchemy just launched its full suite of products to the public, after a two-year closed beta serving teams like MakerDAO and Kyber Network.

DEX Aggregator 1inch Raises $2.8M From Binance Labs, Galaxy Digital and More

Launched by software engineers from Porsche and NEAR Protocol, the startup has raised $2.8 million in a funding round led by Binance Labs.

Coinbase’s Existing $8B Valuation Means It Doesn’t Need an IPO, Lawyer Says

An IPO would do little to boost Coinbase's following or $8 billion valuation, said a lawyer that specializes in getting startups to a public offering.

Bison Trails Now Supports ‘Flow’ Blockchain From CryptoKitties Maker Dapper Labs

Bison users can now build apps, games and more on Dapper Lab's scalable blockchain..

Chia Network Raises $5M to Rival New Crop of DeFi-Friendly Base Layers

Chia Network, led by BitTorrent creator Bram Cohen, just raised another $5 million in an equity round led by Slow Ventures.

Riot Blockchain Mined 508 Bitcoin in Q2

Riot reported a current mining capacity of 556 petahash per second.

Bitcoin Rally Stalls as Increasingly Correlated Gold Drops Below $2K

Bitcoin is increasingly taking cues from gold, a tried-and-tested store of value asset.

10 Reasons Quant Strategies for Crypto Fail

The terms "crypto" and "quant" go together perfectly. The reality is more complicated.

MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’

Digital gold is now the "principal holding" of MicroStrategy's revamped treasury reserve strategy.

Following OCC Letter, Some US Banks Appear Open to Providing Crypto Services

Nationally regulated banks want the OCC to clarify just how and when they can provide cryptocurrency services, hinting traditional financial institutions are paying close attention to the space.

First Mover: After Falling 65% This Year in Bitcoin Terms, Do ‘Stablecoins’ Need a Rebranding?

So-called stablecoins have been tanking in bitcoin terms lately. Should we be calling them "crypto-dollars" instead?

India May Be Starting Its Biggest Bitcoin Bull Run Yet

India’s crypto trade volumes have soared since the Supreme Court of India lifted banking restrictions for exchanges in March. According to Coin Dance's Paxful and LocalBitcoins volume data, India’s bitcoin peer-to-peer trade volume reached an all-time high in July.

Blockchain to Play ‘Essential Role’ in Farming Supply Chains, Says US Government

An agency attached to the U.S. Department of Agriculture said it expects blockchain will play an important role in the sector's supply chains.

Australian Woman Jailed for Theft of More Than 100,000 XRP

The 25-year-old received an over two-year sentence for the 2018 theft of XRP worth around $300,000 at the time.

China’s Blockchain Infrastructure Launches Website for Global Devs

China's Blockchain-Based Service Network has launched an English-language website for international decentralized app developers.

How a Decentralized Randomness Beacon Could Boost Cryptographic Security

Filecoin will be the first protocol to use this production-ready version of drand to create decentralized, verifiable randomness for “leader selection.”

Market Wrap: Bitcoin Tests $12K; DeFi Debt Outstanding Hits Record

Bitcoin’s back on the price roller coaster and DeFi borrowing is hitting a new high.

Mining Stocks Are Beating Bitcoin in a Bullish Cryptocurrency Market

Riot and Marathon have rallied 97% and 128% over the past year while Bitcoin as gained 3 percent.

Facebook Taps David Marcus to Lead Payments Initiatives

Marcus will continue running Libra's Novi digital wallet as he takes on Facebook Financial.

The Latest on the Global Economy’s Most Contentious Relationship

China and the U.S. trade high-profile sanctions, but the real impact is showing up in banks and on the Hong Kong stock market.

After Tumultuous Election, Belarus Goes Offline

Internet is down in Belarus as people are protesting the results of presidential election

Ethereum Classic’s Terrible, Horrible, No Good, Very Bad Week

Ethereum Classic suffered two 51% attacks in the same week. One week later, exchanges, investors and developers are split on the implications.

Interactive Brokers to Pay $38M in Settlement Over AML Lapses

Publicly traded brokerage firm Interactive Brokers has agreed to pay multi-million dollar penalties to the SEC, Finra and CFTC for failure to flag suspicious transactions and lapses in AML compliance.

Blockchain Bites: Inside Cosmos, Bitcoin at $200B, DeFi Surges

Traders are expecting bitcoin to go higher. DeFi is surging in web traffic. And Cosmos is alive and well, despite internal feuding.

Three Crypto Analysis Firms Advance in ‘TechSprint’ RegTech Competition

The fintech showcase has three $50,000 cash prizes for three regtech focus areas.

Coinbase Snags Lyft Engineering Executive Manish Gupta

Gupta will help Coinbase "through the next phase of company growth."

Bitcoin News Roundup for Aug. 10, 2020

With the price of bitcoin knocking on $12K, CoinDesk's Markets Daily is back with another time-saving news roundup.

Researchers Find Flaws in Security Protocols Developed by Major Crypto Exchanges

Private key protocols for some crypto exchanges have been implemented with bugs that could have been exploited by a well-placed malicious party, researchers say.

Bitcoin Transaction Fees Dropped 58% Last Week as Congestion Eased

The cost of transacting on the Bitcoin blockchain fell sharply last week as the network reverted to less frantic levels of activity.

The Fourth Era of Blockchain Governance

Blockchain systems have clear business advantages, but systemic governance design is key to building enterprise involvement.

First Mover: Bitcoin Hits $12K as Trump Orders Checks for Unemployed (Voters)

Bitcoin pushed above $12,000 as President Donald Trump ordered emergency economic aid measures that might just be a precursor to a new spending bill worth trillions of dollars. 

Blockchain-Based Trademark App Can Boost Australian Economy, Says Minister

On the news Australia’s rugby league is using a blockchain-based app to stop counterfeit goods, a government minister has said it could help grow the national economy.

Dapp Platform NEAR Protocol Taps Ontology’s Expertise for Decentralized Identity Effort

The dapp platform will leverage Ontology's experience in building decentralized identity solutions.

Bitcoin Closes on Yearly High With Return to $12K

Bitcoin is on the hunt for a new yearly high, having crossed above $12,000 early Monday.

Messaging Firm LINE Makes Own Token Available to Japanese Traders for First Time

The blockchain subsidiary of the messaging app giant has made its LINK (LN) token available to Japan-based traders for the first time.

Cosmos’ Founding Team Broke Up Early This Year. The Project Didn’t

How Cosmos, the blockchain interoperability project that turned a small ICO into a thriving ecosystem, survived the breakup of its founding team.

Crypto Long & Short: 51% Attacks and Open-Source Value

Ethereum Classic's recent 51% attacks highlight the value of large open-source networks such as Bitcoin and Eth – it’s about more than hashrate.

Link’s Trading Volume on Coinbase Surpasses That of Bitcoin

Chainlink's link token has surged past bitcoin, becoming the most traded cryptocurrency of the past 24 hours on Coinbase Pro.

How the Purpose of Public Markets Has Changed

Long Reads Sunday features excerpts about public and private markets, the new bitcoin bull market, and DJ Marshmello.

Bitcoin’s Stolen Revolution

We wanted a permissionless system where users set the rules. We got a new financial toy for a small handful of wealthy companies and individuals.

The Mounting Evidence of a New Bitcoin Bull Market

From positive price indicators to a new all time high in smallholder addresses, this is the evidence a new bull run might be starting.

Decentralized Tech Will Be Ready for Humanity’s Next Crisis

Decentralized tools were not the default solutions to the COVID-19 pandemic, but the protocols being built today will be ready for whatever comes next.

Bittrex and Poloniex Move for Summary Judgment in Market Manipulation Case

Bittrex and Poloniex were added to the case as defendants in June 2020.

Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move

After testing a $11,900 high bitcoin takes a dip while a DeFi competitor to Ethereum checks off a roadmap box.

Riot Blockchain Ends Week Up 29%, Hits 2020 High Ahead of Q2 Earnings Report

The company has gained 70% so far in Q3.

11 Numbers That Tell the Story of the Economy Right Now

From the price of coffee to the national debt as a percentage of GDP, these 11 numbers provide a picture of a fast changing global economy.

Money Reimagined: Warnings From an Argentine Tragedy

Programmable money can protect against politicians debasing currencies to satisfy their own interests.

Blockchain Bites: Goldman’s Hire, Ether’s Options, Bitcoin’s Patronage

The Fed is rushing ahead with a payments platform, Goldman Sachs is building out a digital assets team and NBA stars have backed Dapper Labs.

Privacy Group Slams California Bill That Would Put Health Records on the Blockchain

EFF said the proposed bill is a serious threat to citizen's privacy; the immutability of a blockchain means false diagnoses can't be erased.

Ethereum Classic Attacker Successfully Double-Spends $1.68M in Second Attack: Report

The attacker attempted to double-spend roughly $3.3 million during the second attack.

ParaFi Invests and Begins Staking in Bitfinex Spin-Out Exchange

ParaFi and D1 have invested a total of $450,000 into Bitfinex spin-out DeversiFi and will now play a governance role in the project's DAO.

California Agency Backs Green-Energy Pilot Using RSK’s Bitcoin Smart Contracts

The California Energy Commission is funding an experimental market for carbon-credit trading on the RSK blockchain, which runs on top of Bitcoin.

Fixing This Bitcoin-Killing Bug Will (Eventually) Require a Hard Fork

The bug sheds light on the challenges of Bitcoin's decentralization. At least we've got 86 years for the community to join together and implement a fix.

Free Speech vs. Cancel Culture: Reasons for Optimism

From social media to controversial statues, the free speech debate is more alive than ever. New tech can help safeguard history while letting us live our values.

CoinDCX Becomes First India Exchange to Offer Users Crypto Staking

Mumbai-based cryptocurrency exchange CoinDCX launched its new product on Friday, allowing users to stake cryptocurrencies from Harmony, Qtum and Tron.

First Mover: Kyber CEO Predicts 2020 Transactions at $3B as DeFi Token Soars

Kyber Network's KNC token has brought traders eightfold returns this year, dwarfing those for bitcoin and ether. CoinDesk spoke with CEO Loi Luu about the project and the DeFi boom.

Financial Services Provider to Coinbase Teams With Circle to Offer EU Institutions Stablecoin Payments

BCB Group will integrate with Circle's platform in a bid to make the USDC stablecoin more widely available.

Binance Says New York Banks Can Now Use Its Stablecoin After Watchdog Approval

NYDFS has added Binance USD to its approved list, cutting away most of the red tape around custody and listing of the stablecoin.

Japan’s New FSA Chief Stands Firm on Crypto Regulation, Calls for Push on Digital Yen

The incoming commissioner of the Financial Services Agency has said the regulator will not soften rules on cryptos.

Market Wrap: Bitcoin Breaks $11,800; Ether Options Market Explodes

Bitcoin's price is clawing its way back after weekend losses while the ether options market suggests a bumpy road ahead.

The History, Present and Future of Central Banks, Feat. George Selgin

The Director of the Cato Institute's Center for Monetary and Financial Alternatives gives an eye-opening, 200-year history of today’s most powerful economic institution.

Polkadot Releases Rococo, Its Test Environment for Interoperable ‘Parachains’

Polkadot has released its first testnet, Rococo, for its parachain network. The testnet will commence with three parachains, Parity Technologies said.

Federal Reserve Is Rushing to Get Its Instant Payments Offering Ready

COVID-19 proved the need for FedNow, even though the U.S. central bank admits the service is still years away.

German Regulator Seizes Crypto ATMs

Germany's financial regulator BaFin is seizing bitcoin ATMs run by "Shitcoins Club" months after ordering its operator to cease trading crypto.

Blockchain Bites: Bulls Reborn, Backrunning Bots, Bitmain Blowout

Ethereum Classic was hit with another 51% attack and Instagram is seeing a proliferation of crypto scams.

Bitcoin News Roundup for Aug. 6, 2020

With bitcoin prices surging and a quick look at crypto lawsuits, CoinDesk's Markets Daily is back for your latest crypto news roundup!

Goldman Sachs Eyes Own Token as Bank Appoints New Head of Digital Assets

The new digital asset head at Goldman Sachs said the bank was currently considering launching its own possibly fiat-backed cryptocurrency.

Bitcoin’s Patronage System Is an Unheralded Strength

Bitcoin development is better funded than ever, cementing a patronage model that protects against insider maneuvering.

German Police Seize $29M in Bitcoin From Alleged Content Pirate

Prosecutors allege the programmer behind movie2k.to helped distribute 880,000 pirated films over a five-year period that ended in 2015.

TikTok and the Great Firewall of America

U.S. politicians say TikTok is a threat to Americans' privacy. But can we trust Silicon Valley giants to behave any better?

Russia’s Sberbank Launches Blockchain on Hyperledger, Mulls Stablecoin in 2021

Russia's largest retail bank is launching a Hyperledger-powered blockchain for trade finance initially, and may add a ruble-linked stablecoin next year

IDEX Raises $2.5M to Rebuild Hybrid Exchange for Algorithmic Traders

The seed investment will be used to re-launch the Ethereum-based exchange so algorithmic traders can better use the platform.

NBA’s Spencer Dinwiddie, Andre Iguodala and More Join Dapper Labs $12M Funding Round

Dapper Labs raised $12 million in its newest funding round led by NBA stars Spencer Dinwiddie, Andre Iguodala, JaVale McGee, Aaron Gordon and Garrett Temple.

Bitcoin Entering ‘New Adoption Cycle,’ Messari Says

User adoption looks to be gathering pace as bitcoin's price rises amid a coronavirus-induced rush for assets with safe-haven appeal.

OKCoin Exchange Awards Grant to One of Bitcoin Core’s Most Active Developers

The grant from OKCoin will allow Bitcoin developer Marco Falke to continue the maintenance work he's done since 2016, like reviewing proposed code changes.

First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year

Bitcoin prices surged 5% Wednesday, outpacing stocks and gold amid calls for more government stimulus to stem the fallout from the coronavirus pandemic.

Judge Worries Plaintiffs’ Lawyers Trying to Line Their Pockets in Block.one ICO Lawsuit

The district judge criticized a class-action lawsuit brought against Block.one for appearing to be an attempt to earn high legal fees.

Investors Suing Over Status ICO Can’t Find Execs to Serve Papers

Investors suing crypto firm Status are seeking “alternative means” to serve top executives after they were unable to deliver court papers via traditional means.

‘Crypto Instagram’ Is Becoming a Thing, Scams and All

Scams are running rampant on Instagram in 2020 – even as legitimate crypto entrepreneurs are increasingly using the platform for business.

Bitmain Delays Bitcoin Miner Shipments by Three Months as Co-Founders Battle On

The escalating internal power struggle at Bitmain is starting to have a more serious impact on its business and customers.

Ethereum Classic Suffers Second 51% Attack In a Week

Ethereum Classic has suffered a 4,000-block long reorganization, its second such incident in five days. The first attack, which saw more than 3,000 blocks reorged, saw an attacker steal more than 800,000 ETC, worth about $5.6 million.

Man Accused of Arranging Murder to Avoid Crypto Debt Can’t Escape Jail, Brazilian Court Rules

Crypto businessman Danilo Afonso Pechin remains jailed after Brazil's High Court refused to hear his request for habeas corpus.

China’s Open Source Development Has Lessons for the US

While the U.S. complains about TikTok and Chinese IP theft, China is forging a new form of development based on open source networks.

Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate

Bitcoin’s price is trending up. Meanwhile, interest rates for lending crypto in DeFi are still unpredictable.

DeFi Traders Are Gaming Ethereum for Higher Profits, Researchers Say

DeFi trading bots create "walls of executions," resulting in higher rewards for Ethereum miners, higher profits for traders and higher fees for everyone.

Two Reasons Crypto’s Bull Market Is Coming

Capital from dying token projects and an inflationary environment provide conditions for crypto's march towards a $1 trillion market cap.

Hedgeye CEO Keith McCullough on Stagflation, Bitcoin and the Devalued Dollar

One of the realest people in financial media joins for a conversation about where the economy really is and where it’s headed.

NASDAQ-Listed MicroStrategy, Wary of Looming Dollar Inflation, Turns to Bitcoin and Gold

“If you have large dollar values and you're hoping for any kind of return on them, that's faded,” said CEO Michael Saylor. “Gold, silver, and bitcoin are showing strength.”

ETH Lite: Reflexer Labs Raises $1.7M to Build a Somewhat-Stable Coin for DeFi

Reflexer Labs, a new decentralized finance project aimed at softening volatility, has closed a $1.68 million seed round led by Paradigm.

17-Year-Old Pleads Not Guilty to Twitter Hack as Defense Tries to Lower Bail From $725K

The 17-year-old charged with being the mastermind behind July's Twitter hack has pleaded not guilty; the defense says bail posted is "grossly inappropriate" to the amount of money stolen.

Blockchain Bites: Square’s Revenue Surge, Eth 2’s Final Testnet, c-Lightning’s Latest Update

Square’s Bitcoin revenues increased 600% year-over-year and a blockchain-based voting system in Russia may have been hacked.

Republic Cuts Through SEC Red Tape to Raise $16M via Security Token Sale

Under a pair of SEC regulations, crowd-equity platform Republic has raised $16 million through the sale of its Republic Note security token.

Bitcoin News Roundup for Aug. 5, 2020

With BTC pushing towards $12,000 and gold at record highs, CoinDesk's Markets Daily is back for your crypto news roundup!

Why Ukraine Is Ripe for Cryptocurrency Adoption

A relatively unstable state – with a technically sophisticated population – creates a fertile ground for crypto adoption.

Ex-Wife’s Testimony Suggests Craig Wright ‘Defrauded’ Court, Kleiman Lawyers Claim

The legal team for the estate of David Kleiman said Ms. Wright's submission cast doubt on the nature of the Tulip Trust at the heart of the lawsuit.

Bitcoin Price Rises 3% as Gold Trades Above $2K for First Time

Bitcoin is again acting like a macro asset, drawing bids amid record rally in gold and broad-based U.S. dollar sell-off.

First Mover: Ethereum’s Transition to Staking Could Push More Traders to Use Derivatives

As Ethereum starts its multiyear transition to a "staking" network, analysts say a reduction in token liquidity may push traders to derivatives markets. 

BnkToTheFuture Steps Away From Banks Citing Mounting Risk to Clients’ Assets

The online investment platform is moving clients' crypto and fiat assets to a Hong Kong-based trust company.

Square Reports 600% Increase in Quarterly Bitcoin Revenue

Jack Dorsey's Square has seen one of the largest quarterly increases yet for its bitcoin business.

Dark-Web Vendor and Pharmacist Charged With Trafficking Drugs Worth $270M in Bitcoin

The two men allegedly shipped opioids into the U.S. and sold them on the dark web for millions in bitcoin.

Social Engineering: A Plague on Crypto and Twitter, Unlikely to Stop

The SIM swapping community entered the spotlight after helping the Twitter hacker breach the social media platform, but these threat actors have been going after the crypto community for years.

Square Crypto, Human Rights Foundation Ramp Up Bitcoin Development Grants

Square Crypto and the Human Rights Foundation are continuing their support for an open source Bitcoin developer community with new contributor grants.

Missouri Man Pleads Guilty to Trying to Buy Chemical Weapons With Bitcoin

The chemicals, though never delivered, would have been potent enough to kill 300 people, prosecutors say.

Market Wrap: Bitcoin Flat at $11.2K; DeFi Has Highest Volume Month Ever

A weak bitcoin market is not stopping Ethereum-powered DeFi growth.

Can Social Media Be Redeemed? Feat. Bobby Goodlatte

An early Facebook product designer-turned angel investor discusses how social media has changed and whether it can be changed again for the better.

‘Rat Poison Squared on Steroids’: What’s New in Bitcoin’s Latest Lightning Release

With a sly poke at Warren Buffet's comment that Bitcoin is "rat poison squared," c-lightning developers' latest release adds some key new Lightning features.

US Lawmakers Don’t Want Proof-of-Stake Networks to Get Overtaxed

Four U.S. congressmen have asked the IRS to clarify how block rewards from proof-of-stake networks are taxed, to prevent taxpayers from owing more than they should.

SEC Seeking ‘Smart Contract’ Tracing Tool That Can Spot Security Vulnerabilities

The federal securities watchdog has taken an interest in DeFi's most basic building block.

Decentralized Exchange dYdX Debuts Ether Perpetual Swaps

Perpetual swaps that track the price of ether (ETH) are coming to dYdX, the company announced Tuesday.

There’s Now an Accelerator Exclusively for DeFi Startups

The Chicago DeFi Alliance (CDA) just launched one of the first accelerator programs devoted entirely to DeFi crypto startups.

Blockchain Bites: XRP Sales, INX IPO and Bitcoin Mining Woes

China's bitcoin miners are in a rut during a period of intense flooding, Ripple shows signs of sales growth and INX scaled down its IPO vision.

Bitcoin News Roundup for August 4, 2020

With investment opportunities in traditional markets drying up, bitcoin futures are drawing record interest. CoinDesk's Markets Daily is back for your bitcoin news roundup!

Russian Voters’ Data on Sale After Blockchain Vote to Keep Putin in Power: Report

Russians voted electronically, using blockchain tech, to keep Putin in power. Now, hackers may be selling the personal data of over a million of those voters.

Ethereum 2.0 Testnet Medalla Goes Live With 20,000 Validators

Medalla, the final testnet before the anticipated launch of Ethereum 2.0 later this year, is now live, the Ethereum Foundation announced Tuesday.

Genesis’ Crypto Lending Rebounds in 2Q; Firm Acknowledges Unsecured Loans

Genesis’ crypto lending arm came back strong in 2Q after a rocky 1Q. Separately, executives acknowledged the firm makes some uncollateralized loans.

What People Who Aren’t Bullish on Bitcoin Still Like About It

Working with open-source software changes the development process, according to this researcher who interviewed hundreds of technologists across projects.

First Mover: As Fed Nears Inflation Rubicon, Analysts See $50K Bitcoin in Play

The Federal Reserve appears ready to pursue yet another untested strategy that could ultimately boost inflation – and possibly prices for bitcoin.

INX Scales Down US IPO Target to $127M – Still Set to Be Crypto’s Largest

The cryptocurrency and security token exchange has filed an updated IPO prospectus with the SEC, lowering the maximum expected raise and proposing a new launch date.

Bitcoin Futures Interest Soars as Bond Yields Fall to Record Lows: Industry Exec

Surging open interest in crypto derivatives suggests investors are seeking alpha in other investments, like bitcoin, said the co-founder of an index fund provider.

Bison Trails Hires Ex-Goldman Sachs VP as Legal Head

Blockchain infrastructure provider Bison Trails has hired BlockTower Capital’s former compliance director to be its first general counsel.

Chinese Ex-Banker Says Digital Currency Should Replace Fiat Money

A former vice president of the Bank of China has argued that digital currency should replace fiat in the nation's financial systems.

DeFi-Focused Derivatives Platform Hedget Raises $500K in Seed Funding

The round was led by FBG Capital and NGC Ventures, both Asia-based venture firms.

French Judge Orders Trial of Alleged BTC-e Operator Alexander Vinnik

Vinnik will reportedly face charges including defrauding more than 100 people in six French cities from 2016 to 2018.

The 2020 Rainy Season Is Tougher Than Ever for China’s Bitcoin Miners

Chinese bitcoin miners are usually happy this time of year because the monsoon season brings excessive rain and thus cheap hydro electricity. But this year has proved to be tougher than ever.

NetWalker Ransomware Gang Is Storing $7M in Bitcoin in SegWit Cold Storage

The organization that’s encrypting computers and extorting companies has taken to SegWit addresses, according to McAfee and CipherTrace

Zephyr Teachout: Take Back the Economy From Economists

Law professor Zephyr Teachout discusses the recent antitrust hearings, how power impacts privacy and the "parallel governments" that Big Tech has created.

Blockchain Bites: Hedge Fund Down, Banana Bets and the Twitter Hack Fallout

Another crypto hedge fund has called it quits, the teenage Twitter hacker reportedly had millions in bitcoin and Huobi sees DeFi as its next venture.

Market Wrap: Bitcoin Rebounds to $11,400 After Flash Crash as Ether Closes In on $400

Bitcoin is gaining back what it lost and ether’s upward run seems undeterred as the crypto market recovers from a flash crash on Sunday.

Ripple Snaps XRP Sales Slump With $33M of the Crypto Sold in Q2

XRP sales had slumped ever since Ripple paused programmatic sales during Q3 2019.

Rage Against the Economic Machine: The Best of the Breakdown July 2020

A recap show on wealth inequality, stock markets and taking it back featuring Jill Carlson, Michael Krieger, Daniel Lacalle, George Gammon and more.

Travala.com Adds Agoda Hotels, Posts Record July Revenue as Crypto Payments Soar

The Binance-backed travel agency brought in $400,000 in July, a 100% increase from the month before.

Matic Pledges $5M in Tokens to Entice DeFi Projects Into Building on Its Network

Matic wants its incubator fund to incentivize promising DeFi projects to build on its scalable sidechain, rather than directly onto Ethereum itself.

Bitcoin News Roundup for August 3, 2020

After a flash-crashy weekend, CoinDesk's Markets Daily is back with your quick daily update.

Electric Capital’s New $110M VC Fund Is 90% Institutions

Crypto VC firm Electric Capital has closed its second fund at $110 million. Of the money raised, 90% of it is institutional capital.

Travel Management Firm CWT Pays Out $4.5M in Bitcoin After Ransomware Attack

The U.S. firm paid out a ransom of 414 bitcoin after its corporate files were locked up in a ransomware attack.

First Mover: July Was a Runaway Month for Crypto Returns

Crypto traders didn't have to be choosy to make money in July, when every digital asset in the CoinDesk 20 rose (except, of course, for the stablecoins).

Bitcoin Investors Unshaken By Sunday’s Flash Crash, Data Suggests

Bitcoin investors look to have shrugged off Sunday’s sudden $1,400 price crash.

Crypto Firm Hacked for $1.4M Admits It Will Struggle to Reimburse Users

Madrid-based payment app and card issuer 2gether said it can only reimburse investors with its native tokens following Friday’s hack.

Charlie Lee, Adam Back Lead $3.1M Private Token Raise for Blockchain Game ‘Infinite Fleet’

A game developed by Samson Mow's Pixelmatic has completed a $3.1 million private SAFT sale of tokens.

Crypto Hedge Fund Neural Capital Closes After Losing Half Its Money

Neural Capital, a hedge fund that traded cryptocurrency assets, has quietly shuttered.

Twitter Hacker Owns $3.4M in Bitcoin, Court Sets Bail at $725K

Twitter hack alleged ringleader Graham Clark, the subject of a previous criminal investigation, had bail set at $725,000 at his first court appearance Saturday.

Inside a Crypto ‘Ponzi’: How the $6.5M Banana.Fund Fraud Unravelled

U.S. authorities are trying to return $6.5 million in bitcoin and tether to the victims of an alleged Ponzi scheme.

Huobi Hires Former Banking Giant Executive to Lead New DeFi Fund

The crypto exchange group is forming a new fund to invest tens of millions of dollars in the DeFi space.

Where FATF Crypto Compliance Gets Interesting: Africa

Crypto businesses seeing strong growth across the 54-country continent are working hard to meet the FATF's anti-money laundering standards.

Crypto Long & Short: Does Decentralization Create Value or Destroy It?

This week, bitcoin rallied past $11,000 and value in DeFi climbed toward $4 billion. But what's the point of crypto if regular markets are just as volatile?

What Future Are We Building for Bitcoin?

A reading of Meltem Demirors new essay “Unintended Architecture” asks some key questions about intention setting for the future of Bitcoin.

Flash Crash: Bitcoin Price Slides by $1.4K in Minutes

Bitcoin's sudden price drop triggers long-squeeze across major exchanges.

Previewing the Economic Showdowns Coming This Fall

From the size of a second round of stimulus to COVID-19 litigation to reshoring, last week previewed some key economic issues for the months to come.

Ethereum Classic Undergoes Likely 51% Attack With 3693-Block Chain Reorganization

Developers advise exchanges to pause ETC deposits and withdrawals.

Bitcoin Miners Saw 7% Revenue Increase in July

Bitcoin miners earned $300 in revenue during July.

Nearly $100 Million in Bitcoin Moved to Ethereum in July, Led by Retail Traders

Over 76% of tokenized bitcoin have been minted by Wrapped Bitcoin.

Why This Sex Industry Executive Loves Bitcoin

“We accept 20 different cryptocurrencies for token purchases. The most popular ones are bitcoin, ethereum and litecoin,” Lara said.

Decentralized Exchange Volumes Rose 174% in July, Topping $4.3B and Setting Second Straight Record

Uniswap reported 41% of July’s decentralized exchange volume.

Five Years In, DeFi Now Defines Ethereum

Ethereum has always struggled with explaining itself to the world. With DeFi, it's found not only a new avenue of development but of self-definition.

Bitcoin Ends July at Highest Monthly Close Since 2017 Peak

Bitcoin closed July at $11,351, according to Messari.