Expert: News of Chinese Banks’ Crypto Crackdown Greatly Exaggerated

Last Monday, Chinese media reported that police in Guangdong froze thousands of bank accounts belonging to over-the-counter traders. It was reported last week that thousands of bank accounts belonging to Chinese over-the-counter cryptocurrency traders were recently frozen by law enforcement. The police claimed that this was part of a wider investigation into illegal activities, such as money laundering. Reports noted that these investigations specifically targeted OTC trades using the stablecoin Tether (USDT). According to Sonny Wang, the head of Longmen Capital Japan, this was merely part of an everyday exercise…

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After Raising $20M in 2017, ATBCoin Claims It Can’t Afford a $250,000 Settlement

ATBCoin has claimed that it is unable to pay a $250,000 settlement to a lawsuit over its $20 million ICO, prompting calls from the plaintiffs for the court to enforce the agreement. Investors who settled claims against the self-proclaimed “fastest blockchain in the world,” ATBCoin LLC, have requested that a New York federal judge intervene to enforce the $250,000 agreement. In April, the lead plaintiff in a class-action lawsuit levied at ATBCoin over its 2017 initial coin offering that raised $20 million agreed to a proposed settlement of $250,000.  The suit…

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Ubisoft Launches Blockchain-Based Collectables to Support UNICEF

The gaming giant released blockchain-based Rabbids tokens that will gather funds for UNICEF. On June 17, Gaming giant Ubisoft released a series of blockchain-based digital collectibles for the popular gaming and television franchise, Rabbids. Money raised through the sale of these collectables will go to support the United Nations Children’s Fund, or UNICEF. According to VentureBeat, France-based Ubisoft is launching around 55 Rabbids collectibles as tokens on Ethereum’s blockchain. These assets are represented by ERC-721 Non-Fungible Tokens, or NFTs. The collectibles have their own properties, design, value, and can be…

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Telegram Founder Chastises Facebook & Instagram For Allowing Scams to Thrive

Telegram founder Pavel Durov admonishes Facebook and Instagram for generating ad revenue from scams that are being promoted from his name. Telegram founder, Pavel Durov, lashes out at Facebook and Instagram for making money off of scammy ads that use Durov’s name and image. Through his Russian Telegram channel on June 17, Durov accuses the tech giant of turning the deaf ear to user complaints: “For over a year, Facebook and Instagram have been making money off of advertisements promoting scams that are being launched from my name. These machinations…

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Singapore Carpooling App Ryde Launches Wallet for BTC Payments

Singaporean carpooling app Ryde announced the launch of its own cryptocurrency wallet which will facilitate Bitcoin payments for its service. Singaporean carpooling app Ryde announced the launch of its own cryptocurrency wallet which will facilitate Bitcoin (BTC) payments for its service. In an announcement shared with Cointelegraph on June 17, Ryde claims to be the first and only ride-hailing application to incorporate Bitcoin payments into its ecosystem. The firm’s customers will be able to use Bitcoin to pay their rides starting on June 22. Other cryptocurrencies will follow Ryde’s wallet,…

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American Gaming Association Urges Policy Change on Digital Payments

The American Gaming Association has laid out a proposal of new guidelines for gambling payments. The culmination of a year and half of work, the American Gaming Association has proposed a set of updated policy guidelines for casino payments.  The proposition looks to let visitors fund their activities at gambling establishments via digital avenues instead of allowing only physical fiat currency, said a statement Tuesday.  It remains unclear whether the AGA includes cryptocurrencies under its digital payments reference. Cointelegraph reached out to the AGA for comment but received no response as…

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Bitcoin Broker River Financial Announces $5.7M Seed Round

The San Francisco-based Bitcoin financial services firm announced it had raised $5.7M in a seed funding round led by Polychain Capital. San Francisco-based Bitcoin financial services company River Financial announced it had raised $5.7 million in a new seed funding round. In an update posted to the company website on June 17, River Financial stated it had received a $5.7 million investment in a seed round led by Polychain Capital. Slow Ventures, Castle Island Ventures, DG Lab Fund, Cygni Capital, Pfeffer Capital, IDEO CoLab Ventures, and Square Crypto’s Steve Lee…

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BlackBerry Partners With Intel to Launch a Cryptojacking Detection System

BlackBerry releases crypto mining and cryptojacking detection software focused on computers running Windows 10. Software company and former smartphone manufacturer, BlackBerry, has partnered with Intel to launch a crypto mining and cryptojacking detection system for Intel-based commercial computers. According to the announcement, BlackBerry released “BlackBerry Optics v2.5.1100”, which relies on the BlackBerry Optics Context Analysis Engine, or CAE, to leverage CPU telemetry from Intel Threat Detection Technology to provide enterprises with advanced malware software. This software’s main purpose is to detect cryptojacking attempts. Works on Windows 10 As there is…

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Bitcoin Mining Heats Up: High Difficulty Adjustment, Pool Consolidation, Less Concentration in China

It’s been approximately 37 days since the notorious Bitcoin reward halving that took place on Monday, May 11, 2020. On June 16, the Bitcoin network saw a large upwards difficulty adjustment making it much harder to mine bitcoins and slowing down the issuance rate because block generation has slowed down. Furthermore, a recent research report predicts the SHA256 ASIC mining industry will grow more consolidated in the future. Bitcoin Network Difficulty Jumps to 15.7 Trillion One of the most lucrative but also one of the most competitive operations in the…

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BTC Investors Bullish Even as Bitcoin Price is Below $10K — On-Chain Data

Bitcoin price is pinned below $10K but on-chain data and market correlations show investors remain bullish. Since recovering from this week’s drop to $8,900, Bitcoin (BTC) price has struggled to gain above $9,600 and this level needs to flip from resistance to support before further upside can occur.  The largest digital-asset on CoinMarketCap has been gradually decoupling from stocks but some short-term correlation to traditional markets remains. This was observed on June 15 when BTC dropped below the $9,000 mark amid some heavy losses in the futures stock market. Some…

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