A New Zealand based crypto exchange website has been shut down by the operators citing a major hack. Cryptopia a New Zealand based crypto exchange which started operations in 2014 has been taken offline by the organisers after undergoing a security breach on January, 14. The exact details of the hack are still unknown and the company has since been sharing news about the hack via its Twitter handle. Customers have been facing difficulties to access their accounts on January 13 after which they are greeted to a message of maintenance that is being displayed on the screen. Later on 14 of January the company took to Twitter to tell that the exchange has suffered security and has undergone significant losses. The staff has alerted all the related government agencies, t...
We are less than two days before of the much-anticipated Constantinople hard fork on the Ethereum blockchain and uncertainty has sparked as only 20% of all nodes have already upgraded to the new version. Constantinople has been set to launch on January 16 (block 7,080,000), and 1534 out of 7650 total nodes have adopted the proposed changes on Ethereum according to Ethernodes, a Constantinople adoption tracking service. Representatives of the Ethereum community are confident that consensus will be ultimately achieved and the majority of nodes will update their clients just before the irreversible chain split. However, as the Constantinople upgrade includes several depreciating features for the miners’ incentives, a debate has started lately about whether this is a concerted
Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), has spoken of the advantages of initial coin offerings (ICOs) as a way to raise capital – with a significant caveat. In a speech last week, focused on reviewing the SEC’s progress in 2018 and discussing the agenda for 2019, Clayton said “I believe that ICOs can be effective ways for entrepreneurs and others to raise capital.” However, he added that securities rules must be adhered to where appropriate. “The novel technological nature of an ICO does not change the fundamental point that, when a security is being offered, our securities laws must be followed,” he said. The chairman further said that the SEC and its staff “have spent a significant amount of time” focusing on blockchain and cypto assets
The Abu Dhabi National Oil Company (ADNOC), a leading diversified energy and petrochemicals group that claims to produce roughly 3 million barrels of oil and 10.5 cubic feet of natural gas daily, has joined forces with IBM to enable it integrate distributed ledger technology (DLT) into its operations and reduce risks while fostering transparency and efficiency, according to a press release on December 9, 2018. Oil and Gas on the Blockchain In its bid to seamlessly track, validate and execute transactions at every stage of its operations, from the production well to the end user, via blockchain technology, ADNOC has announced its collaboration with IBM. Per ADNOC, it’s integrating IBM’s blockchain solution into its entire oil and gas production value chain to reduce transaction ti
Binance is one of the biggest cryptocurrency exchanges in the world and they have recently announced that they will be launched its sub-account support specifically for institutional traders. The exchange giant has revealed they have had a number of requests put forward by users of Binance which has encouraged the exchange to bring in the feature. As it says on the official blog for the crypto exchange, the new upgrade will allow for multiple entities to set up a number of sub-accounts under one organisation and provide control of access to one master account and only that account will be able to control the other accounts under it. Aside from this, the exchange will be providing a set limit to API limits for every sub-account. On top of this, only those who have VIP 3 tier or ab...
The Swiss city of Zug, home to crypto and blockchain development hub “Crypto Valley,” has been ranked the fastest-growing tech community in Europe. Swiss startup news channel StartupTicker reported this on Dec. 6. According to the latest annual “State of European Tech” report from London-headquartered global technology investment firm Atomico, Zug came out top in a comparison of year-on-year growth of attendees to tech-related “meetup” events per European city, with a 177 percent increase as compared with last year: Comparison of YoY growth of attendees to tech-related meetup events per city. Source: startupticker.ch As Startupticker further reports, Switzerland overall had a weaker performance as compared with other European tech destinations. The United Kingdom sealed the top spot a
The month of December started out better than November but it is now turning out to be every bit a cryptocurrencies holder’s worst nightmare as November. Today, major coins have taken a dramatic drop with most coins losing 10% to 20% of their value. Bitcoin, the crypto leader, has dropped by 11% at the time of writing this and is now trading below $3,500. Should we expect $3,000? Given the markets latest trend, there’s no reason why we shouldn’t expect bitcoin to hit $3,000. In the last three weeks, coins have seemed to bottom out but have surprisingly dropped even further. Bitcoin which seemed to have bottomed out at $3,500, in the last couple of hours crossed that line and now seems to have bottomed at $3,300. Altcoins have also taken a major beating with Ethereum dropping
Hollywood movies are never too far removed from reality. In the case of unfair practices on Wall Street, we have seen it in legendary movies such as the 1987 classic by Michael Douglas and Charlie Sheen also known as Wall Street. The movie was loosely responsible for the attraction many young graduates – in the 80s and 90s – had for stock market trading. In a nutshell, the movie glorified greed. We have also seen several other films that continue to give us a glimpse of the underbelly of what goes on in the traditional markets. These movies include The Big Short, Gold, Wall Street II, Margin Call, The China Hustle, just to name a few. With the weekend a few hours away, the aforementioned movies might be worth exploring for any crypto enthusiast with free time. The Theory That Wall
ShapeShift CEO Erik Voorhees has said that the growing debt of the US, which hovers at around $21.7 trillion as of November, will inevitably cause a big spike in crypto. “When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back and thus must print it instead, and thus fiat is doomed. Watch what happens to crypto.” Voorhees suggested that to repay the national debt, the government and the federal reserve will be forced to print more fiat money, leading to inflation and a decline in the purchasing power of the US dollar. Major Financial Institutions Including BlackRock Worried BlackRock, the world’s largest asset manager with more than $6.317 trillion in assets under management, is the latest major fi
Ran NeuNer, CEO of OnChain Capital and CNBC Africa-based Crypto Trader’s showrunner, recently sat down with a number of prominent industry guests to talk all things crypto. While NeuNer spoke with notable guests like VanEck’s Gabor Gubacs and Roger Ver, most notably, the South African entrepreneur cut out some time to sit down with Binance CEO Changpeng Zhao to get a much-needed insider scoop on a multitude of subjects. Binance CEO: I Don’t Know What Will Catalyze A Bull Run, But It Will Happen After discussing Binance’s current prospects for a number of minutes, NeuNer got down to the nitty-gritty, asking Zhao, better known as CZ, what catalysts could be a precursor to this nascent market’s next bull run. The Binance executive, remaining cautiously optimistic,