Bitfinex Investor Reportedly Detained by the Chinese Authorities

Zhao Dong was taken in custody by the police with no official statement as to his detention. Reports circulating in Chinese media allege that Zhao Dong, head of the over-the-counter (OTC) crypto lending platform RenrenBit, has been detained by local police. The validity of these reports is not known at this time. Some say Dong is currently in a police station in Hangzhou, others claim he is in Yancheng. Matthew Graham, chief of Sino Global Capital, said through Twitter that reports about Zhao’s current situation seem “confirmed.” RenrenBit allegedly operating…

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Huobi Becomes First Major Exchange to Run a Chainlink Node

Huobi has become the first major exchange to run a Chainlink node in an effort to improve data authenticity and integrity. Major cryptocurrency exchange Huobi will integrate their price data with Chainlink’s ecosystem in an effort to improve its own data integrity and provide more accurate price information. While Binance was the first major exchange to provide their data to Chainlink oracles in October 2019, Huobi has gone one step further by running its own node on the system through Huobi Wallet. This allows the exchange to sign its own…

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Bitcoin Price Rally by 2021 Looks Likely From Five Fundamental Factors

Five key fundamental factors suggest that Bitcoin is preparing for an extended uptrend by 2021. The price of Bitcoin (BTC) has been bouncing in the range between $8,600 and $10,000 for the past two months. BTC has shown little volatility since May, following a critical rejection at $10,440. However, five major fundamental factors still point toward a prolonged uptrend by 2021. According to data from Skew, the 10-day realized volatility of Bitcoin dropped to the lowest level of the year on June 24. This may indicate that traders are cautious…

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$5.3b Asset Manager Invests in US-Hosted Antminer S19s

Two weeks after announcing it had purchased a record 17,595 Antminer S19 ASICs, Core Scientific has announced an expanded partnership with a multi-billion hedge fund. United States-based crypto mining host Core Scientific has announced that the $5.3 billion asset manager and hedge fund Horizon Kinetics has upgraded its investment to access Bitmain’s news Antminer S19 and S19 Pro models. The July 2 announcement comes less than two weeks after Core Scientific announced a record purchase of 17,595 units of latest mining machines — comprising the largest sum of Antminer S19s…

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Bittrex CEO Joins StormX Board After Undisclosed Investment

Bittrex CEO Bill Shihara will expand his role at cashback rewards platform StormX from investor to board member. Bill Shihara, founder and CEO of Bittrex crypto exchange, is joining the Board of Directors for Seattle-based blockchain startup StormX. According to an announcement from StormX, the addition of Shihara to the board comes after the CEO invested “an undisclosed sum” in the company’s latest equity round. However, Shihara was already an angel investor for the startup — originally founded in 2015 as Bitmaker — and reportedly acted as one of its…

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IRS Wants to Track ‘Nefarious’ Privacy Coin and Lightning Transactions

The IRS is looking to expand its investigative capabilities around privacy coins, layer-two solutions, and sidechains. The United States’ Internal Revenue Service (IRS) is seeking information and tools to help it trace transactions using privacy coins, layer two protocols such as Lightning Network and side chains like Plasma and OmiseGo (OMG). A June 30 request for information published by the U.S. Department Of The Treasury reveals the IRS’ Criminal Investigation Division is seeking submissions for “an interactive prototype” with a graphic user interface for analyzing distributed ledger-based transactions involving privacy…

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Lithuania to Launch CBDC This Month — Intended for Collection Purposes, Not Trade

Lithuania might become one of the first countries to issue a CBDC — but there’s a catch. The Bank of Lithuania, or BoL, will launch a pre-sale of its CBDC, dubbed LBCOIN, on July 9, a representative for the central bank told Cointelegraph. The coin itself will be issued and sold on July 23. While LBCOIN is technically a CBDC based on the NEM blockchain and issued by the central bank of Lithuania, the financial institution prefers to call it “the world’s first blockchain-based digital collector coin”. Indeed, LBCOINs will…

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Learn How To Build a Long-Term Trading Strategy in This Week’s Crypto Markets Show Live!

Popular traders and youtubers Benjamin Cowen and Tyler D. Coates discuss long-term trading strategies and how to take profit from major trends in the crypto market. In our latest crypto market show live, popular traders and youtubers Benjamin Coates and Tyler D. Coates will be discussing long-term trading strategies and how to take profit from major trends in the crypto market.  The crypto market has been trading sideways for a few weeks, which means it is a good time to think of a long term trading strategy and prepare to…

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Unknown Cybercrime Gang Holds Thousands of Databases For Ransom

MongoDB suffered a “Wiping & Ransom” attack that wiped around 22,900 unsecured databases. Cross-platform database company, MongoDB, is the latest victim of a cybercriminal attack. This attack has infiltrated 22,900 unsecured databases by wiping their contents. The gang behind the attack has since requested Bitcoin (BTC) payments in exchange for a backup of the data. According to WeLiveSecurity from the cybersecurity firm ESET, if the ransom isn’t paid in two days, the hacker, or a gang of cybercriminals, threatened to notify authorities in charge of enforcing European Union’s General Data…

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Coinbase’s ’Data Plumber’ Denies All Allegations

Coinbase’s “data plumber” denies storing users’ login credentials in plain text along with all the other allegations in a new class-action complaint. A source close to Plaid — the company that serves as a “data plumber” to Coinbase, Robin Hood, Square’s Cash App and many others — denied all allegations of the class-action complaint that was recently filed. The entire complaint hinges on the allegation that Plaid sells user data to the “highest bidder.” A Plaid spokesperson called this allegation “baseless.”  A money-making operation? A source close to Plaid’s legal team, speaking to…

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