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Showing posts from December, 2020

Mining Rigs Maker Ebang Launches Crypto Exchange in Q1

  Happy new year! The move comes a little over three months after the US-listed company set up subsidiaries in Australia. Bitcoin mining equipment manufacturer Ebang plans to launch a cryptocurrency exchange in the first quarter of 2021.  The move is part of the Hangzhou-based company’s strategy to diversify its revenue streams beyond a sector that is extremely competitive and tends to  boom and bust with Bitcoin prices . The move also comes a little over three months after the US-listed company set up subsidiaries in Australia, paving the way for it to enter the digital asset trading business.  In pursuit of a global digital asset platform, it also expanded into Singapore for its planned offshore exchange for cryptocurrency . Dong Hu, chairman and CEO of the Company, commented,  “The completion of the internal testing of our cryptocurrency exchange is another step forward in expanding our blockchain financial services business.  Meanwhile, we will also explore other business opportu

Russian Oil Drilling Giant Opens a Crypto Mining Farm Run on Gas Energy

  Gazpromneft, the oil subsidiary of Russia’s natural gas giant Gazprom, is getting into a different kind of exploration .  The company opened a venue for cryptocurrency mining on one of its oil drilling sites in Siberia, unlocking the power of Russia’s oil and gas resources for the needs of  bitcoin  (BTC, +3.56%)  mining.  Gazprom, a company that counts the Russian government as a shareholder, is the country’s gas monopolist and world’s 10th biggest oil producer.  The company has been spearheading several mega-projects of cross-border gas pipelines like the Nord Stream and the South Stream, bringing the Russian gas to Europe.  Gazpromneft is a direct subsidiary of Gazprom and one of the very few Russia’s government-owned companies that has openly expressed interest in the crypto mining industry.  Earlier this year, CoinDesk reported that Rosatom, Russia’s nuclear power monopolist, is opening up its energy supplies for miners, too.  The venue, located in the Khanty-Mansiysk region of

Crypto.com to Delist, Suspend XRP in the US After SEC’s Ripple Suit

  Cryptocurrency exchange and finance platform Crypto.com said Monday night it will delist and suspend trading in the U.S. of XRP, the cryptocurrency behind the U.S. Securities and Exchange Commission lawsuit against Ripple Labs last week. Effective Jan. 19, 2021, at 10 a.m. UTC,  XRP  (+8.71%)  will be delisted and trading suspended from the Crypto.com App in the U.S.  Crypto.com's move came the same day two other crypto exchanges,  Coinbase  and OKCoin, also announced suspensions of the XRP token. On Tuesday, crypto payments firm Wirex and  bitcoin  (BTC, +3.74%)  app Ziglu took similar actions, according to The Block.  Wirex won't include XRP in a U.S. version of its app while Ziglu will suspend trading in XRP as of Jan. 12, 2021. Meanwhile, also Tuesday, the Bittrex Exchange  said it will remove XRP markets on Jan. 15, 2021, while Swipe Wallet said it will be delisting XRP for U.S. customers on Jan. 5, 2021. The SEC claimed last week that XRP is a security, and that Rippl

XRP cryptocurrency tumbles as Coinbase exchange moves to suspend trading

  LONDON, Dec 29 (Reuters)  -  Cryptocurrency XRP slumped  19%  on Tuesday after Coinbase , a major U.S. virtual coin exchange , said it would suspend trading in the digital currency. California-based Coinbase said on Monday it would suspend trading in XRP after the U.S. Securities and Exchange Commission  (SEC)  last week charged an associated blockchain firm, Ripple, with conducting a $1.3 billion unregistered securities offering. Ripple has rejected the charges, saying XRP is a currency and does not need to be registered as an investment contract. XRP, the third-biggest cryptocurrency, was last down 18.7% at an intra-day low of $0.20  XRP=BTSP , its lowest since July.  It has slumped by over half since the SEC move. The move by Coinbase comes as it prepares for a stock market listing, with a confidential application to the SEC to go public.  It would be the first major U.S. crypto exchange to list on the stock market. Coinbase , one of the most well-known cryptocurrency platforms,

Binance Launches "Vanilla" Options Contracts, "European Style"

  The exchange ’s new options contract will allow its users to issue options themselves. In brief Binance has launched a new Bitcoin options contract. It will allow traders to issue their own contracts. Users will be able to buy Bitcoin at an agreed-upon price, then trade it for other currencies . Crypto exchange Binance today announced a new type of Bitcoin options contract that simplifies things for traders and lets them issue their own contracts for the first time.  Termed “European-Style Vanilla Bitcoin Options,” they allow users to buy Bitcoin at an agreed-upon price upon the expiry of the contract, then trade it for other cryptocurrencies.  European-style contracts depart from the American-style options contracts that Binance launched in April 2020, which allow traders to purchase the Bitcoin at any point, right up until the contract expires.  BTC + 51.03% $26780.75 24H 7D 1M 1Y Max Nov 28 Dec 2 Dec 6 Dec 10 Dec 14 Dec 18 Dec 22 Dec 26 17000 19000 21000 23000 25000 27000 BTC Pr

China mining Coin No More - Bitcoin Mining Shifting to Sweden and Norway

  Nordic Bitcoin miners are thriving amid the ongoing bull run The Bitcoin mining market in the middle of a major shift that barely anyone talks about. Philip Salter, head of operations at Genesis Mining, recently  told Bloomberg  that miners are moving from China to Nordic countries, namely Sweden and Norway, which he describes as “one of the biggest developments” within the nascent industry: Those western countries are perceived as safer and more stable as opposed to communist China that currently reigns supreme in the global hashrate arms-race, Salter says:                There is a very important strategic shift away from mining in China to mining in western countries like Sweden as Bitcoin investors become more public and want more stability and critical safety. He adds that the profitability of the company’s Boden-based data center more than tripled because of historically wet weather and the ongoing Bitcoin rally:   There were times we were not making any profit at all, but d

UK Crypto Exchange EXMO Says $4M of Hacked Funds Was Through Poloniex

  Cryptocurrency exchange EXMO said an estimated $4 million of the cryptocurrency stolen during a hack on Dec. 21 was through the exchange Poloniex.   The U.K.-based platform has estimated that a total of 6% of its cryptocurrency has been lost to the attack with an estimated $4 million being withdrawn through Poloniex.  The dollar figure of what was lost overall in the hack wasn’t immediately known. The exchange said assets cannot be recovered by EXMO due to criminals withdrawing the funds through Poloniex  “$1 million in ZEC [zcash] stolen from EXMO have been withdrawn through the Poloniex crypto exchange,” an EXMO spokesperson told CoinDesk Friday. On the day of the attack, EXMO said it had contacted cryptocurrency exchange Poloniex with a request to block an associated account and informed London police about the breach. EXMO reported losses in six of the 57 cryptocurrencies it supports: ethereum classic. Each digital asset is hosted on its own server, the firm said. The platform

Russian crypto-exchange Livecoin hacked after it lost control of its servers

Hackers gained access to the Livecoin portal and modified exchange rates to 10-15 times their normal values. Russian cryptocurrency exchange Livecoin posted on message on its official website on Christmas Eve claiming it was hacked and lost control of some of its servers, warning customers to stop using its services. According to posts on social media, the attack seems to have happened on the night between December 23 and December 24. Hackers appear to have taken control of the Livecoin infrastructure and then proceeded to modify the exchange rates to gigantic and unrealistic values. Before Livecoin admins managed to gain back access to some of their systems during late December 24, the Bitcoin exchange rate had ballooned from the regular $23,000/BTC to more than $450,000/BTC, Ether grew from $600/ETH to $15,000, and Ripple price increased from $0.27/XRP to more than $17/XRP. Once the exchange rates were modified, the mysterious attackers began cashing out accounts, generating giganti

Bitcoin cash outs arrive at 16,000 ATMs in the UK

  Cryptocurrency holders can now cash out their bitcoin at 16,000 ATMs across the UK thanks to a collaboration between East London-based Cryptocurrency company BitcoinPoint and independent cash machine opwerator Cashzone. With interest in bitcoin surging, user-friendly processes to securely buy, sell and use cryptocurrency have long been a hurdle to widespread adoption. BitcoinPoint has been working to break down these barriers with a mobile app that makes it possible to buy and sell bitcoin at a network of agents, from Bureaus de Change to newsagents, as well as online through an instant bank transfer solution via Open Banking. “When we started the service early 2018, there was not enough emphasis on making it easier for people to simply buy £5 of bitcoin,” says BitcoinPoint CEO and former Credit Suisse VP Benoit Marzouk. “ Since registering on a crypto exchange could be a complex process for non-tech savvy people, the scarce availability of bitcoin ATMs made accessibility of bitco

Cryptocurrency XRP Plunges 25% After SEC Files Lawsuit Against Ripple

  Cryptocurrency XRP sank nearly 25% to around 35 cents Wednesday morning. The SEC is suing Ripple and two of its executives over the alleged sale of unregistered securities. Ripple denied XRP is a security and questioned the lawsuit's timing. The price of  XRP  plunged again Wednesday after the U.S. Securities and Exchange Commission filed a lawsuit alleging that Ripple, a blockchain company with ties to the cryptocurrency, conducted a $1.3 billion unregistered securities offering. XRP sank nearly 25% to around 35 cents Wednesday morning, according to data from cryptocurrency market site CoinDesk.  The virtual currency fell as much as 17% on Tuesday after Ripple said it anticipated and would fight the legal action. The SEC is suing Ripple and two of its executives, CEO Brad Garlinghouse and co-founder Chris Larsen.  At the heart of the federal agency's complaint is the claim that XRP should be treated as a security — like a share in a company — rather than a currency. "W

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