Monero attackers used Linux, Windows binaries to steal currency: Report

On 19 November, a Reddit user warned the Monero community about CLI binaries being compromised. Soon after it was brought to light, the issue escalated and the official Monero website acknowledged havThe post Monero attackers used Linux, Windows binaries to steal currency: Report appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price & Technical Analysis: BTC Decline Won’t Stop

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Bitcoin Price & Technical Analysis: BTC Decline Won’t Stop
On Thursday, November 21st, the leading cryptocurrency keeps declining, trading at $7934.00.
Bitcoin Price & Technical Analysis: BTC Decline Won’t Stop

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Source: CoinSpeaker

Bitcoin worth $17.6M move from miners' wallets: Miners cry capitulation

Miners Sing the Siren Song…
Lower lows and lower highs are setting in. BTC might be heading to the place where it all began, the $4,000 – $5,000 range. The reason for Bitcoin’s current trajectory cThe post Bitcoin worth $17.6M move from miners’ wallets: Miners cry capitulation appeared first on AMBCrypto.
Source: AMB Crypto

Santander Exec Mentions Ripple in that the Bank Focused on Innovation

Ana Botin, the Santander SA Chairman recently sat down in an interview with Bloomberg.
Botin took time to name drop Ripple.
“We’re 100% in favour of innovation”.

When will institutions adopt blockchain? What will its impact be? These are some of the questions that are asked on a daily basis in the crypto space.

But some have already have adopted the technology, making use of products from Ripple, the Ethereum blockchain, as well as other decentralised ledger solutions aimed to help their bottom line. One of these institutions is the Santander bank based in Spain that is the 16th largest bank in the world. 
One Pay
Ana Botin, the Santander SA Chairman recently sat down in an interview with Bloomberg in New York where she talked about her firm’s plans and current business model. Throughout the interview, Botin took time to name drop Ripple. This was in a specific context of the bank being an innovation-centric institution. When asked by the interviewer about how Santander has been working in the fintech space, the Santander executive said:

“We’re 100% in favor of innovation… We’ve partnered with Kabbage, Ripple, and many other American companies. What we’re doing is we want to take these companies and services when we don’t approve a loan, we can pass it on to Kabbage; Ripple is at the base of One Pay FX blockchain base [system.]”

For those that don’t know, in 2018, the Spanish bank launched a new service dubbed “‘Santander One Pay FX.” This is a global payments service that allows customers to “complete international transfers on the same day in many cases or by the next day.” It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
Source: Crypto Daily

Bitcoin (BTC) Now Finding a Middle Ground, $3K Was an Overreaction to the Downside – Crypto Analyst

People talking about Bitcoin (BTC) free falling to $3,000 are more unreasonable than those who are bullish, expecting prices to soar back to $20,000. This is the debatable opinion of a leading crypto analyst, CryptoDonalt, who explains that at spot rate, BTC is at a level ground.
Overreactions to Downside and Upside
CryptoDonalt says that the super bull run of 2017-when BTC prices erupted from $200 to $20,000, will take some time to “digest”, and market participants were merely overreacting in both instances when prices tumbled to $3,200 in late 2018 and rallied to $14,000 in mid-2019.

People talking about $3000 right now are being more unreasonable than people talking about new highs.A run from $200 -> $20k is going to take some time to digest.$3k was an overreaction to the downside.$14k was an overreaction to the upside.We're now finding middle ground.
— DonAlt (@CryptoDonAlt) November 21, 2019

To $20,000 or $3,000
Whether BTC will rally or not is a source of discourse. Permabulls and no-coiners are locked in a never-ending argument when opposing camps lay down reasons as to why they are confident of their stance.
However, one thing is clear. Bitcoin will be a go-to digital asset even if the number of organic searches in countries like China, where crypto trading is barred but nonetheless strategic, is dropping, insinuating a fall in interest on a valuable digital asset stocked by Chinese merchants.
A shake out for weak Miners
As it is, BTC is at a crossroads. While there is optimism that it will stabilize, bottom up and edger higher ahead of halving, it will also be marked by the US elections, expected to be hot and highly competitive. So far, its performance has been dismal characterized by low trading volumes.
Bitcoin (BTC) Performance
Week-to-date, the coin is down 10% against the resurgent greenback forcing it below the main support line at $8,000. As traders search for direction and double guess maturing regulators’ position, weak miners are already feeling the brunt of low prices, with some reported to have capitulated as mining simply becomes unprofitable.
BTC Could Slide Back to $4,500 Before Rallying
Discussing Bitcoin’s outlook, Willy Woo, an on-chain analyst, and Tone Vays, a trader, projected that BTC could tumble to as low as $4,500, a 71% fall from this year’s high before prices bottom up as the market prepares for May 2020 halving.

Already Tone Vays is advising his followers in Telegram cautions saying:
“I’m totally back in cash now. There doesn’t seem to be obvious sign of reversal. Going to sit on the sidelines until there is more indication.”
Woo’s and Vays’ assessments could prove to be the antithesis of CryptoDonalt’s position more so if the latter’s analysis came to pass.
The post Bitcoin (BTC) Now Finding a Middle Ground, $3K Was an Overreaction to the Downside – Crypto Analyst appeared first on Coingape.
Source: CoinGape

China’s Bitcoin Mining Firm Canaan Manages to Raise Only $90 Million through IPO

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China’s Bitcoin Mining Firm Canaan Manages to Raise Only $90 Million through IPO
As per its previous plans, Canaan was looking to raise anywhere around $400 million but fell short by 75% of its target.
China’s Bitcoin Mining Firm Canaan Manages to Raise Only $90 Million through IPO

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Source: CoinSpeaker

Will Venture Capitalists Behind Ripple Prop Up XRP Price?

Eric Daduon, an investor and a crypto thought leader, is of the view that Ripple Inc. investors will not allow XRP prices to tank and this will consequently will the Internet of Value (IoV) into existence so as to prop prices.
Internet of Value Around the Corner?
The Ripple platform aims to be a go-to network for financial institutions including banks where they can send money anywhere in the world easily and cheaply.
Aside from the involvement of leading venture capitalists like Google Venture, Accenture and Andreessen Horowitz, and leading global banks like SBI Group, Standard Chartered and Santander back the for-profit organization.

#Ripple makes money elsewhere but safe bet they want a higher $XRP price given their “bag”. You know who else would? Their investors (Standard Chartered, Santander, Andreessen Horowitz, Accenture, Google, etc).
These giants are going to will the #IoV into existence. I can wait.
— Eric Dadoun (@EDadoun) November 21, 2019

XRP Down 44% Year-to-Date against USD
Dadoun’s opinion will excite the XRP community, a band of supporters considered to be the most loyal, and optimistic about future prices. They hope that XRP will reclaim its January 2018 all-time high of $3.20. Even so, XRP prices remain largely suppressed, as the third most valuable coin by market cap registers huge losses on a year-to-date basis.

To quantify, XRP is down 44%, 68% and 57% against USD, BTC and ETH respectively. This is despite the number of partners brought on board the RippleNet increasing above 300, and Ripple Inc investing in MoneyGram in a deal that involved the remittance service provider incorporating xRapid.
XRP Blocked by Regulatory Uncertainty
Companies are mostly apprehensive of integrating xRapid and using XRP mainly because there is no clear regulatory guidance around XRP. Already, there are several lawsuits where aggrieved holders of XRP want compensation complaining that Brad Garlinghouse and team tricked them into buying unregistered securities which eventually collapsed causing financial harm.
Centralization Claims
Ripple is the majority holder of XRP coins in circulation. With a 55% control, 55 billion XRPs in their custody, critics are adamant that Ripple ledger is centralized and there will always be a risk of Ripple Inc dumping their holdings on token holders as the project seeks to finance their operations.
Is Ripple Suppressing Prices?
Already, there is a section of the XRP community complaining that Ripple has been actively “dumping” XRP, deliberately keeping prices low to attract banking partners and to enable entities using XRP to cheaply use the coin in their operations. Ripple Inc continues to market three main solutions to their burgeoning clientele: xRapid, an option that incorporates XRP (for On Demand liquidity) for global, instantaneous value transfer, xCurrent, which is widely adopted, and xVia, a solution which was recently launched.
Do you think a new ATH is in view for XRP in the near future? Share your views with us in the comments below.
The post Will Venture Capitalists Behind Ripple Prop Up XRP Price? appeared first on Coingape.
Source: CoinGape

Larger Bearish Sentiment Sees Bitcoin Tumbling to a Lower Handle

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Larger Bearish Sentiment Sees Bitcoin Tumbling to a Lower Handle
Despite the fact that the crypto community has a number of good news, Bitcoin price is still moving down.
Larger Bearish Sentiment Sees Bitcoin Tumbling to a Lower Handle

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Source: CoinSpeaker

Bitcoin (BTC) Price Diving, Gates To $7,400 Now Wide Open

Bitcoin price is diving and it recently broke the $8,000 support area against the US Dollar.
The price is under a lot of pressure and recently traded to a new monthly low at $7,828.
Morning’s bearish flag pattern was breached with support near $8,080 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The next key target for the bears could be $7,400 (as discussed in the recent medium term outlook).

Bitcoin price is gaining bearish momentum below $8,000 against the US Dollar. More importantly, there is now very less chances of BTC recovering above $8,250 before testing $7,400.
Bitcoin Price Analysis
In morning, we discussed the chances of a breakdown in bitcoin below the $8,000 support area against the US Dollar. BTC made an attempt correct above the $8,150 resistance, but it failed to gain traction and remained well below the 100 hourly simple moving average.
As a result, there was another bearish break below the $8,050 support. Moreover, morning’s bearish flag pattern was breached with support near $8,080 on the hourly chart of the BTC/USD pair.
Finally, the price declined below the $8,000 support and the last swing low. A new monthly low was formed near $7,828 and the price is currently correcting higher.
An immediate resistance for bitcoin is near the $7,920 level. It represents the 23.6% Fib retracement level of the recent decline from the $8,221 high to $7,828 low. The first key resistance on the upside is near the $8,000 level (the recent breakdown support).
Additionally, the 50% Fib retracement level of the recent decline from the $8,221 high to $7,828 low is near the $8,020 level to prevent gains. Lastly, there is a new connecting bearish trend line forming with resistance near $8,020 on the same chart.
Therefore, the price is likely to face a strong resistance if it corrects higher towards $8,000 and $8,020. A convincing break above the $8,020 resistance may perhaps lift the price towards the $8,200 resistance.
On the downside, it seems like the gates for a test of the $7,400 support is now open (the next bearish target as discussed in the recent medium term outlook).

Bitcoin PriceLooking at the chart, bitcoin price is clearly gaining bearish momentum below the $8,000 support area. There are high chances of additional losses towards the $7,400 support unless the price rallies above $8,020 and $8,200 in the near term.
Technical indicators:
Hourly MACD – The MACD is gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently recovering from the oversold levels.
Major Support Levels – $7,640 followed by $7,400.
Major Resistance Levels – $8,000, $8,020 and $8,200.
The post Bitcoin (BTC) Price Diving, Gates To $7,400 Now Wide Open appeared first on NewsBTC.
Source: New feedNewsBTC.com

Why Crypto: Scam-Hit PMC Bank Defrauds India’s Financial Regulator and Millions of Customers

Putting their trust in a centralised financial institution proven to be a costly affair for millions of consumers in India. Punjab and Maharashtra Cooperative (PMC) Bank, has barred consumers from accessing the funds in their accounts, thus throwing their lives into disarray. Not only that, it has managed to do this by throwing dust in the eyes of India’s chief financial regulator and central bank, Reserve Bank of India (RBI). Is it time that consumers start shifting to crypto? 
The PMC Debacle
PMC Bank tricked the RBI by misreporting its financial information to the financial regulator. The bank submitted manipulated financial information, which did not include the data of certain undisclosed accounts, to the central bank for sample checks. As per reports, a majority of the accounts were those of Housing Development and Infrastructure Limited (HDIL), which upon inspection by the RBI, were found to be non-performing assets (NPAs).
PMC Bank has also sanctioned mortgage limits to a subsidiary of HDIL, and interestingly, the director of the company was none other than the Chairman of the bank, Waryam Singh. Singh had even conducted a board meeting for the approval of a mortgage overdraft, which again, was a violation of the central bank norms.
The case has come to light and Singh has been arrested, but the bank’s customers are still going from pillar to post to get their money back.

How The Tech Was Tweaked
Tech played an important role in this fraudulent scheme. Out of the bank’s 1,800 staffers, only 25 had special access codes to HDIL accounts. They were in the know of what was happening with the accounts, but the rest of the staff was oblivious to it. Also, the parties to the conspiracy tampered with Management Information Systems and NPC Identification Process to hide information related to HDIL accounts. The script for system identification of the NPAs was unable to recognise HDIL accounts as NPAs because they had been omitted from NPA accounts and the Overdrawn accounts list.
Thus, the information submitted to RBI was falsified, and the profits shown were inflated.
Have Blockchain and Crypto Become a Necessity?
The PMC debacle strengthens the case for both crypto and blockchain. Crypto – because the ownership of currencies cannot be compromised. Owners of cryptocurrencies have complete control over them and how they want to them.  Several Twitter users shared the same sentiments about crypto in the context of this situation.
Indian crypto influencer Shalini highlighted how traditional banking systems across the world were failing, and that is why, there was a need to switch to Bitcoin.

Last week was horrible for banks,
🔹Turkey froze 4 Million accounts without warning
🔹Hong Kong ATMs ran out of cash
🔹Indian PMC Bank locks millions of accounts
🔹Indian Police fight Banks in court after RBI Ban stops them from cashing out seized Crypto
This is why #bitcoin
— Shalini⚡ (@DesiCryptoHodlr) October 7, 2019

Another user highlighted how banks are greedy, and bitcoin can be a saviour for the average human beings.

#PMCBankCrisis #PMCBankFraud PMC bank crisis shows the pathetic state of the banks filled with greed. Bitcoin was born for an average human to have an option to banks. #saynotocentralbanks #bitcoin #freedomtothepeople #banksgoextinct #Crypto #BankFraud
— pranav rajan🇮🇳 (@thoughguy1998) October 6, 2019

A Twitter user with the handle KryptoSuperman also that crypto was the best way for people to keep their money in their control.

#IndiaWantsCrypto PNB / PMC… Nirav Modi… Malya… And the list goes on! At what point will the people of India realise that crypto is the best way to keep their money safe in their hands and not some bank account where they have no control over it?
— KryptoSuperman (@KryptoSuperman) October 31, 2019

The issue also necessitates the implementation of blockchain technology in the financial system. Blockchain ensures that all records are maintained transparently, and control over them is not centralised. Any tampering with the data recorded on blockchain will be visible to the members on the network, and they can thus invalidate that record. Thus, blockchain has the potential to minimise opportunities for fraud and make financial systems more secure and reliable for everyone.
Do you think blockchain is the answer to the existing problems of traditional financial systems? Share your views with us in the comments below!
The post Why Crypto: Scam-Hit PMC Bank Defrauds India’s Financial Regulator and Millions of Customers appeared first on Coingape.
Source: CoinGape

Tachyon Protocol Offers the New Internet in Your Hand

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Tachyon Protocol Offers the New Internet in Your Hand
As the internet gradually migrates from Web2.0 to Web3.0, Tachyon Protocol looks well on its way to become one of the dominant players of the decentralized future.
Tachyon Protocol Offers the New Internet in Your Hand

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Source: CoinSpeaker

Mercedes-Benz Unveils $67,900 Pricing for Forthcoming All-Electric SUV EQC 400 4MATIC

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Mercedes-Benz Unveils $67,900 Pricing for Forthcoming All-Electric SUV EQC 400 4MATIC
About a year after Mercedes announced its EQC all-electric vehicle, the company has now placed a price tag on the car.
Mercedes-Benz Unveils $67,900 Pricing for Forthcoming All-Electric SUV EQC 400 4MATIC

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Source: CoinSpeaker

Tezos' Co-founder: Inorganic institutional investments useful for 'grassroots' cryptocurrencies

At ‘The Future of Digital Assets’ briefing held by Bloomberg in London, Co-founder of Tezos, Kathleen Breitman, spoke to Alex Webb about privacy, institutional investments in the space, and how TeThe post Tezos’ Co-founder: Inorganic institutional investments useful for ‘grassroots’ cryptocurrencies appeared first on AMBCrypto.
Source: AMB Crypto

$400 Million Worth of XRP Can Be Linked Back to Ponzi Schemes

$400 million worth of Ripple’s flagship token can be traced back to a variety of Ponzi schemes and darknet activities.
While that may sound like a lot, it is in fact only 0.2 percent of XRP transactions.

There’s a lot of XRP out there and there’s a big chunk of it that related to Ponzi schemes over the years.
Specifically, around $400 million worth of Ripple’s flagship token can be traced back to a variety of Ponzi schemes and darknet activities. This all comes from Elliptic who said the claims in a report released this week on Wednesday. 

While that may sound like a lot, it is in fact only 0.2 percent of XRP transactions. Looking towards the leading cryptocurrency comparison, $829 million of bitcoin, or 0.5 percent of that network’s transactions, have been spent on the dark web.
Tom Robinson, chief scientist and co-founder of Elliptic said:

“Regardless of the amount, it just demonstrates that there is illicit activity going on in this coin. Therefore, if you are a business handling some of these transactions then you need to be checking for it because you don’t want to be the organization that’s being used to launder those proceeds.”

These worries are especially aimed towards the target market of XRP. Ripple owns an estimated 60 percent of the XRP supply and periodically sells the tokens to fund operations leaving many to wonder just how decentralised the token is. The San Francisco-based company has been pitching banks software that utilises XRP for the last few years to some prevail.
A Ripple spokesperson said: 

“Like other cryptocurrencies, XRP is open source and decentralized – it’s available to anyone to use. Ripple enabled XRP transactions are secure and through regulated institutions.”

It will be interesting to see how much more illicit activities XRP is involved in for the future. For more news on this and other crypto updates, keep it with CryptoDaily!
Source: Crypto Daily