Five reasons why the bitcoin wealth distribution is skewed
Shock horror: Bitcoin’s wealth distribution is outrageously uneven. The top 2.8 percent of wallet addresses control 95 percent of the supply of bitcoin, according to statistics.
South Korea’s CoinOne exchange issues official coin listing criteria
CoinOne, a major South Korean cryptocurrency exchange, has issued its official listing criteria. The criteria lay down the nine requirements for projects that seek to list on the exchange. The exchange doesn’t receive listing fees and therefore, it only lists projects that have high trading volume to generate revenue from the trading fees.
Bitcoin’s ‘Kimchi Premium’ Vanishes Again as Trading Range Tightens
The spread between the price of bitcoin on South Korean and U.S.-based crypto exchanges, which returned in June and hit 16-month highs, has disappeared once again.
Cyber Criminals Netted $4.3B From Crypto-Related Crime in 2019: Study
Cyber criminals have netted $4.3 billion from digital currency exchanges, investors and users in 2019.
Just 318 Crypto Addresses Control 80% of Tether
The cryptocurrency world is even more concentrated than most observers probably realize. While large holders of Bitcoin that are commonly referred to as whales own almost a fifth of the largest cryptocurrency, researcher Coin Metrics says the unique identifiers known as addresses show that only about 300 entities control around 80% of Tether, the token that serves as a conduit for trading on many of the world’s largest crypto exchanges.
Bitcoin expert scams a scammer, donates the money to charity
Financial fraudsters often try to target the elderly or otherwise vulnerable — but one recently picked the worst possible target.
Japanese Crypto Exchange Bitpoint Restarting Trade Services
Japanese crypto exchange Bitpoint is resuming some trading services following a $28 million hack in mid-July.
Bahrain Crypto Exchange Gets Central Bank License in Middle East First
Bahrain-based cryptocurrency exchange Rain has become the Middle East’s first exchange to receive a regulatory license.
Philippines central bank warns (again) about unregistered crypto exchanges
The Bangko Sentral ng Pilipinas (BSP) has issued a memo warning banks to be more stringent when dealing with cryptocurrency businesses. The regulator urged commercial banks to be strict with their risk management protocols when dealing with crypto exchanges to prevent money laundering and terrorist financing through cryptos.
IRS Sending 10,000 Tax Compliance Letters to Crypto Investors
The United States Internal Revenue Service (IRS) is sending letters to crypto investors to clarify crypto tax filing requirements and, in certain cases, compel them to pay back taxes. The IRS announced its letter campaign in a press release on July 26.
Croatian Post Launches Pilot Program for Crypto-to-Fiat Exchange
The Croatian Post has partnered with Electrocoin to run a pilot program for a crypto-to-fiat exchange in the city of Zadar.
Norwegian Air to accept bitcoin, opening crypto exchange
One of Europe’s leading budget airlines, Norwegian Air, will allow passengers to buy tickets using bitcoin. And Norwegian is not stopping there. It’s also opening its own cryptocurrency exchange, Norway’s Dagens Næringsliv (DN) newspaper reported yesterday.
Circle Moves Exchange Operations Offshore With New Bermuda Office
Due to mounting regulatory pressures in the United States, the crypto company Circle is moving the majority of its exchange operations offshore.
Exchange QuickBit Confirms Data Breach May Impact 300K Users
QuickBit, a Swedish cryptocurrency exchange listed on the NGM Nordic MTF market, allegedly leaked 300,000 customer records via an unprotected MongoDB database. The exchange confirmed the event in a series of updates on their investor relations board.
Huobi Burns 14 Million Huobi Tokens Amid Revenue Gains
Houbi, one of the world’s oldest cryptocurrency exchanges, has taken steps to reduce the supply of the token that powers its decentralized platform, Huobi Token (HT), in a quarterly burning event.
“Stable” bitcoin: what influences the exchange rate of the prime cryptocurrency
The Bitcoin exchange rate has recently demonstrated a rapid growth, after which, as a rule, a correction occurs. However, it is not known how large-scale it will be and what to expect from the crypto market in the future.
CEO of BitFunder Exchange Gets 14 Months in Prison for Fraud, Obstruction
Jon Montrol, the operator of defunct bitcoin-denominated trading platform BitFunder and WeExchange deposit service, was sentenced for securities fraud and obstruction of justice, according to a statement from the Southern District of New York.
Exchange Behemoth Binance Opens Singapore Branch
Binance, the largest crypto exchange by trading volume, according to CoinMarketCap, launched a Singapore syndicate, the third such operation in its ecosystem.
Crypto exchange Huobi to launch its own public blockchain for decentralized financial services
Singapore-based cryptocurrency exchange Huobi is set to launch its own public blockchain network focused on decentralized financial (DeFi) services, following the lead of rival Binance.
First Blockchain Company Gets Listed on Deutsche Börse-Operated Xetra Exchange
German Blockchain-as-a-Service (Baas) provider Advanced Blockchain AG has become the first blockchain development firm to be listed on Germany’s Xetra digital stock exchange, operated by Deutsche Börse. The news was reported by financial news site DGap on July 1.