Blockchain 

Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the…

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Blockchain 

TRON’s CEO Debunks Association with Billion Dollar Ponzi Scheme Scam

While responding to an allegation that Tronfoundation and BitTorrent are involved in a billion-dollar Ponzi-scheme scam that defrauded thousands of investors in China, Justin Sun, TRON’s CEO, says both companies are “fine.” According to the CEO, preparations were being made to launch BitTorrentSpeed on July 8, so people should stop publicizing fake news and pictures. .@Tronfoundation and @BitTorrent is fine. Everything is fine. We are preparing for #BitTorrentSpeed launch today. Stop spreading fake news and pictures. — Justin Sun (@justinsuntron) July 8, 2019 Justin Sun Says Tronfoundation and BitTorrent are…

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Blockchain 

Blockchain Supply Market to Grow to $9 Billion

Blockchain supply is poised to become a multi-billion dollar market. A study by market research firm Allied Markey Research indicates the size of the market could reach highs of $9 billion by 2025, representing an 80% growth from 2018 levels. Key Growth Drivers Blockchain is the underlying technology that powers an array of decentralized digital assets, key among them being Bitcoin and other cryptocurrencies. Increased usage of the technology to enhance transparency and improved security in supply chains is one of the catalysts fuelling the blockchain supply market. The retail…

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Blockchain 

Bitfinex Plans to Sell $1 Billion Worth of LEO Tokens

Bitfinex has revealed plans of selling its asset LEO, which is estimated to be worth $1 billion. Although this might be seen as a bland move, leading analysts have nonetheless warned that it might hurt Bitcoin. $1 Billion Worth of LEO Tokens In a report last week by NewsBTC, Dovey Wan, the founder of Primitive Ventures, indicated that Bitfinex had plans of raising over $1 billion through the offering of its branded crypto assets through an on-platform initial coin offering. A section of the crypto community took the news as…

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Cryptocurrency 

Crypto Theft Could Hit $1.2 Billion in 2019, Says Cipher Trace

Crypto theft has greatly reduced this year compared to last year as regulators continue to enhance their scrutiny and the enforcement of anti-money laundering controls. Crypto Theft Could Hit $1 billion Mark Despite being $500 million less than last year, crypto theft could still go well beyond a billion dollars by the end of this year. A quarterly report released on May 1 by Cipher Trace indicates that investigatory specialists had found that over $356 million worth of crypto had been stolen in Q1 2019. The amount stolen includes the CoineBene…

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Blockchain 

Kraken Futures Trading Nears $1 Billion in First Month

Crypto is nowhere close to being dead. Kraken’s newly acquired Crypto Facilities has seen around $1 billion traded in crypto futures already in February, according to an article released today by CoinDesk. Sui Chung, Crypto Facilities’ head of pricing products and indices, told CoinDesk that futures trades have grown more than 500% since Kraken acquired the futures exchange. Kraken Acquires Crypto Facilities On February 4th, US-based cryptocurrency exchange Kraken announced the acquisition of Crypto Facilities. At the time, the cryptocurrency exchange didn’t release the exact figures for the transaction and just…

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Cryptocurrency 

Crypto Hacks Take $1.7 Billion in 2018

Yesterday, a rather shocking cryptocurrency anti-money laundering report was released by the crypto analytics company CipherTrace. This report states that around $1.7 billion worth of cryptocurrency was obtained illegally in 2018. What’s more surprising is that crypto hacks happened three times more than in 2017. No wonder institutional investors don’t want to put big money into the crypto industry yet. Crypto Hacks Worth $1.7 Billion Of the total stolen in 2018, over $950 million was from cryptocurrency exchanges. This is 3.6 times more than what was stolen from exchanges in 2017.…

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Bitcoin 

Russia to Avoid US Sanctions with $10 Billion Bitcoin Investment

According to a Russian economist with ties to the Kremlin, the superpower is preparing a massive $10 billion USD investment in Bitcoin to replace its US dollar reserves. Russia’s Bitcoin investment is a step to minimize US sanctions on the country. Russia’s Bitcoin Investment Vladislav Ginko, an economist at the Russian Presidential Academy of National Economy and Public Administration, said the Bitcoin investment was a step taken to avoid US sanctions on Russia. Ginko believes that Russia’s decision to hold Bitcoin as a reserve currency instead of the US dollar is…

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ICOs 

$1.7Bn Raised, Becomes First Ever Billion Dollar ICO

With 1.7 Bn$ Raised, TON Becomes the First Ever Billion-Dollar ICO in the History of Cryptocurrency. The brothers Pavel and Nikolai Durov continue to demonstrate to the world their ability to do business, reaping a successful career in each of the investments they make. Pavel Durov has known how to interpret the needs of the markets, and his first commercial success came with the creation of Vkontakte, a company that knew how to take the benefits of Facebook, adapting it to the customs and needs of the Russian population, while…

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