Two of Russia’s largest banks are piloting cryptocurrency trading

Two of Russia’s largest banks are to begin piloting cryptocurrency trading for their private clients, according to a report by Kommersant on Friday (June 15). The tests will be conducted within the “regulatory sandbox” of the country’s central bank, and follow recent comments by Russian president Vladimir Putin, that cryptocurrencies “cannot be a means of payment or saving” but subject to tight and careful regulation “have their place within the world”. The pilot process...

EOS blockchain launches after year-long $4 billion ICO

EOS, a new blockchain system touted as a “faster and more efficient” Ethereum alternative has finally launched today (June 15) after a year-long ICO (initial coin offering) by developer Block.one which raised over $4 billion (£3 billion). The activation follows the 150m (15%) of token-holder votes required to determine the 21 individuals or entities known as ‘block producers’, that will maintain the distributed network and be rewarded for verifying transactions, serving in a role...

‘Netflix of crypto’ gears up for UK stock listing on mission to democratise mining

The UK stock market could be about to see its first blockchain-based listing, as a new company aimed at bringing cryptocurrency mining to the 99% sets its sights on the London Stock Exchange. Argo Blockchain, launched last year as a “mining-as-a-service” subscription platform, is aiming to raise £20m in the listing with expectations at being valued at around £40m once public, as it realises its vision of handing cryptocurrency mining power to a majority. The process of creating...

Coinrail hack sees cryptocurrencies plummet 10%

The price of bitcoin and other cryptocurrencies plunged to a two-month low over the weekend with news that the South Korean cyber currency exchange Coinrail had been hacked. Coinrail confirmed the breach on Twitter, calling it a “cyber intrusion on our system” and stating that “some coins” - which constitute lesser-known currencies - had been compromised as a result, while it didn’t disclose the exact amount stolen.  

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Cryptocurrency thefts amounted to $1.1bn in 2018, says cybersecurity firm

The cybersecurity firm Carbon Black has revealed that over $1.1bn (£82m) worth of cryptocurrency has been stolen in the first half of 2018, as it emphasises the ease and lack of skill required to commit cybercrimes. According to the group, criminals are using dark web marketplaces to facilitate thefts, with an estimated 12,000 such marketplaces in operation and 34,000 malware offerings related to ‘cryptotheft’. The massive growth of this black market has meant cryptocurrency crimes in...

Nasdaq finally shuts door on Long Blockchain Corp for ‘misleading’ crypto investors

The Nasdaq stock market has announced today (June 6) that it will delist the common stock of Long Blockchain Corp, having suspended its stock on April 12 of this year. The Long Blockchain Corp, formerly The Long Island Iced Tea Corp, could be considered the poster boy of cashing in on the crypto-craze beginning late last year, which saw a spree of companies hoping to capitalise on the frenzy by changing their business names and missions. The company’s name change at the start of 2018...

Ripple donates $50m to top US universities for blockchain innovation

Cryptocurrency and payments startup Ripple is set to donate $50m (£37m) to 17 universities across the US, with ambitions to speed up the development of blockchain technology. The investment - which has been made to colleges including the world-renowned MIT - is part of Ripple’s University Blockchain Research Initiative (UBRI), aimed at funding the research and development of blockchain, cryptocurrency and digital payments. According to Ripple’s SVP of business operations, Eric van...

HTC announces Exodus, a blockchain-powered smartphone

HTC has announced a smartphone this week powered by blockchain technology, called Exodus. The phone will include a secure hardware enclave designed for cryptocurrencies and decentralised applications. The Exodus phone also has a universal wallet, which will support Bitcoin, Ethereum, Lightning Networks, Dfinity and other major cryptocurrencies. Users will be able to send and receive crypto payments, with each device acting as a node for crytocurrency trading. Security and privacy seem like...

New York City positions itself as hub for blockchain innovation

It may be known as the city that never sleeps – but New York City wants to also be known as a blockchain pioneer. James Patchett, CEO and president of the New York City Economic Development Corp. (NYCEDC), told attendees at the CoinDesk Consensus conference that the city will be launching a resource centre and a public competition to ‘build a foundation around the technology and position New York City as an accessible centre for blockchain innovation’, as NYCEDC put it. The NYC...

Assessing the next evolution in crypto trading

In the revolution of emerging blockchain technologies, shifting from legacy models and habits to embrace this paradigm shift, occurs in iterations. Arguably, the most significant aspect of blockchain is decentralisation, which allows for programmable trust, distributed ownership, and removes the necessity for third party arbitration. Money is flooding into cryptocurrency, seen by a market cap increase from 18 billion US$ to more than 600 billion US$ just in 2017. That is a 240 fold increase....