Tom Lee: “The Facebook Announcement is Validation that the Mainstream are now Focused on Cryptocurrencies”

The co-founder and head of research of Fundstrat, Tom Lee has recently taken part in a new interview with CNBC Futures Now where he gave his opinion on the new Facebook cryptocurrency, Libra.
Lee believes that this new stablecoin from the social network is proof that cryptocurrency is going mainstream.

“The Facebook announcement is a complete validation that mainstream is now focused on cryptocurrencies and I think it really destroys those arguments that say, ‘I believe in blockchain, not Bitcoin.’”

Lee says that Facebook creating a cryptocurrency is good news for Bitcoin in the long-term.

“This is clearly a cryptocurrency play. But the salvo, or the real focus, is decentralized finance. And I think it is more targeted at stablecoins and creating a new kind of banking system, and it’s very complimentary to Bitcoin. I think this is actually a really bullish development for Bitcoin. I think it’s really bad for stablecoins and anyone who’s been trying to do decentralized finance.
One thing to keep in mind – Facebook’s annual revenue per user is probably $50. That might be a little high. But an average bank generates close to $1,000 per user. So, Facebook has a 20x upside to their customer model if they start doing banking services, and so I can see why banks aren’t really enthusiastic about this.”

When it comes to the price of Bitcoin, the co-founder says that the leading crypto is now in a full-blown bull-market and is well on the road of return to its all-time high of $20,000.

“I think Bitcoin ultimately becomes a reserve currency in crypto. Bitcoin at $9,000 has only been at this level in 4% of its history. We’re deep into a bull market and people are pretty silent about it. I think Bitcoin is going to easily take out its all-time highs.”

Despite Facebook’s announcement this week, the price of Bitcoin hasn’t moved much. The price is currently sat at $9,139 following a 0.78 percent decrease over the past 24 hours.
Source: Crypto Daily

2019’s Top 5 Cryptocurrency Exchanges For Any Crypto User

If 2018 was the year of the Crypto Winter, the 2019 thawing is surely now sufficient to be classed as a new season. The price of Bitcoin has been on a steady upward trajectory, the number of crypto wallet users is in growth, and even Facebook now wants in on digital currency.
With the markets on the up, it’s the right time to be in the crypto exchange business. After all, whether you’re a newbie or a seasoned enthusiast, a HODLer or a day trader, everyone in cryptocurrency relies on exchanges at some point or another.
Of course, with such a vast choice of exchanges on the market today, which one you choose will depend on your specific needs. Here, we round up the best crypto exchanges for all kinds of users.
Best for Fees – Binance
Binance has become known for a seemingly never-ending series of innovations. They were the first exchange to issue its own token (BNB), the first to become a launchpad for new blockchain startups, and recently the first to launch its own blockchain.
Despite all this, it’s worth remembering that one of the main reasons that Binance rose to prominence in the first place was because of its highly competitive fee structure. Maker and taker fees reduce from 0.1% based on increased trading volume. This fee model makes it an attractive platform for day traders.
BNB holders can get a 25% reduction on trading fees, making the exchange token an attractive investment for regular Binance users.
Best for Number of Coin Pairs – HitBTC
Traders of the more obscure alt coins are often frustrated with the fact that their selected instruments aren’t available on many of the more well-known exchanges. This is where HitBTC comes in.
According to CoinMarketCap, HitBTC is currently listing nearly 800 trading pairs, including many alt coins sitting firmly outside the top 100. A major exchange making an effort to keep this many trading pairs isn’t just good news for altcoin traders. It also helps inject liquidity across the entire cryptocurrency markets.

Best for Newcomers – XCOEX
One of the challenges for newcomers to the crypto space is the high barriers to entry. Although navigating cryptocurrency exchanges is far from impossible, it’s still unnecessarily complicated.
XCOEX aims to overcome all this. The exchange is a new offering, with simplicity and ease of use being the USP. The interface design is intuitive whether you’re using it on a smartphone or desktop. Wallets are free to use and integrated into the software, and all funds are stored offline in cold storage.
For June only, XCOEX is offering a promotion aimed at onboarding more new users. Each day, the exchange will give away $1,000 worth of Bitcoin Cash to one eligible user selected at random. To be in with a chance, visit the promotion page, sign up for an account and deposit $20. Once you’ve joined the Telegram group and followed the Twitter account, you could be among those selected for the daily bounty!
Best for Seasoned Traders – Bittrex
Like HitBTC, Bittrex also offers access to a wide range of trading pairs — around 350 at the time of writing. However, it’s the transaction speed that really sets it apart. Seasoned day traders know that seconds can make all the difference when entering or exiting a position.
Bittrex has a super-fast order matching engine that means nobody is ever left waiting. Speed, combined with the high number of trading pairs, means that Bittrex is a highly liquid exchange. Also reassuring for its users is the fact that Bittrex has so far never been hacked.
Best for Futures Trading – BitMEX
If short-trading is your thing, then futures trading is for you, and the undisputed king of Bitcoin futures trading is BitMEX. It does one thing, and it does it well. On BitMEX, traders can access a range of crypto futures contracts, including Cardano, EOS, and XRP.
BitMEX’s margin trading offering stands out for a few reasons. Firstly, it allows higher leverage (up to 100x) with a lower margin and smaller minimum contract value. BitMEX also takes the index price of the asset being traded, not the last traded price, which helps to prevent manipulation of the order book.
At this stage in 2019, if you disagree with any of the five choices listed here, you can take your pick from around 250 other options. Choosing an exchange is a personal decision based on a variety of factors. As with everything in cryptocurrency, the best advice is to always do your own research.
Source: Crypto Daily

Roubini (Dr Doom): Libra is a “Ridiculous Chutzpah”

The well-known Bitcoin bear, Nouriel Roubini – AKA Dr Doom – has once again taken to Twitter to make a few digs at a cryptocurrency. Instead of Bitcoin, Roubini is targeting Facebook’s upcoming stablecoin this time. Libra was only announced yesterday but according to the economics professor, Libra is “blockchain in name only”.
Facebook Profit Mule
In addition, Roubini argues that Facebook’s cryptocurrency was only designed to grow the social network’s profits. Dr Doom even goes onto claim that the stablecoin is just a ‘monopoly scam’

It will start as a private, permissioned, not-trustless, centralized oligopolistic members-only club. So much for calling it “blockchain”. Like all “enterprise DLT” it is blockchain in name only and an monopoly to extract massive seignorage from billions of users. A monopoly scam https://t.co/NritKaQODS
— Nouriel Roubini (@Nouriel) June 17, 2019
World Domination
The 60-year-old also warned of Facebook’s ‘ridiculous chutzpah’ designs. According to him, Facebook intends to use Libra to become the central bank of the world.

In a separate tweet, Roubini said:

“At a time when Big Tech is coming under sharp legislative scrutiny coz of serious anti-trust concerns and all govs, even the US, want to crack down on these monopolies Facebook wants to become the monopolistic Global Fed without even a bank license. What a ridiculous chutzpah!”

Before he claimed that Libra was a monopoly scam, the economist began his rant against the stablecoin by warning of its risks. This is by virtue of the fact that Libra will be linked to a basket of currencies, Dr Doom warned that there will be some risks for users based in nations that have relatively stable currencies.
He goes onto say that users shouldn’t expect to earn any interest on their balances.

“Facebook Coin will make a fortune for FB & its investors by earning interest on “float”, ie users’ balances (as funds invested in safe interest-bearing gov bills) while pay 0% on such users’ balances. Rip-off! I rather keep my money in $ fiat & earn 2.5% on safe overnight rates!”

Source: Crypto Daily

Ripple’s New Partnership Will Help Expand xRapid Says CEO

The CEO of Ripple, Brad Garlinghouse says that the company’s new partnership with money transfer behemoth MoneyGram is its next step in bringing around the adoption of cryptocurrency and blockchain. In return, MoneyGram will be utilising Ripple’s xRapid system in order to settle cross-border payments via XRP. This is all posted in a press release published yesterday (June 17th).
Speaking to Bloomberg, Garlinghouse said the partnership would assist Ripple in transforming the cross-border payments sector. He stated:

“The deal is a big step for Ripple, but I think it’s even a bigger step for the overall industry. There’s been a lot of excitement around what blockchain and digital assets and crypto can mean for the industry and I think it’s the reason why players Facebook are diving in also. But we haven’t yet seen much beyond experimentation.
And at Ripple, I think we are the market leader because we have matured aggressively and we’re really solving real problems for real customers. MoneyGram is just the manifestation of that. And as the second largest global remittance company, we’re able to have a big impact with one customer and one partner in this.”

The firm is growing at a rapid (pardon the pun) rate and is focused on growing the xRapid platform and expanding the number of payment routes available on the platform.

“…with this new product around liquidity, we’re now enabling liquidity into the Mexican peso and the Philippine peso. We certainly expect to be much broader than that, but we’ve only been live with this product for about six or seven months. So we feel like we’ve made tremendous progress in a short amount of time. We’re going to continue to invest with the customers we have today as well as expand the number of corridors we have globally.”

Libra
Speaking on Facebook’s entrance into crypto, the CEO said:

“I think it’s an incredibly positive signal for the overall blockchain and crypto market to have a player like Facebook leaning in. I think there’s been obviously a lot of skepticism in the origins of crypto, coming from kind of an anti-government and anti-bank point of view. [But] to see major industry players lean in and participate I think is really positive for the overall market.”

He continues:

“Facebook is obviously a consumer-oriented company. Instagram, WhatsApp. What Ripple is doing is really enterprise infrastructure and interconnecting various payment networks around the world. So we’re working with some of the biggest banks around the world, small payment providers and really providing that interoperability between the different networks as opposed to solving within a network kind of problem. So it’s really very different than what I expect they’re going to be doing.”

Source: Crypto Daily

Why NEO has been the best performing coin of 2019

NEO – the ‘Chinese Ethereum’ – is a cryptocurrency which supports the development of smart contracts and digital assets. It seems like an aspirational coin, with it having many projects lined up for the near future.
GAS, the underlying crypto coin which facilitates NEO transactions, is NEO’s native token and it has created the foundations for NEO to become one of the best performing digital currencies of 2019. Since the start of the year, NEO has risen from around $7.50 and a market cap of around $490 Million, to now trading at approximately the $13 mark and an $940 Million market cap.
When you hold NEO in particular wallets, you get GAS in return. This is due to NEO deploying a Proof of Stake blockchain, meaning that it is one of the crypto coins which gives you the ability to earn currency while doing nothing. With this feature, holding NEO almost guarantees you a return of 4-6% per year and you can work out your potential returns using their staking calculator.

Neon is the recommended wallet for holding the cryptocurrency, as is allows you to automatically get your GAS rewards. Other wallets are able to do this, however you will need to hold your private keys individually.

KuCoin and Binance are also capable of giving GAS rewards regularly, however, earning and holding these rewards through an exchange can be a bad idea because of security reasons.
GAS can be claimed at anytime you require it, unless you are using one of the exchanges as they send out the rewards each month.
The ability to earn GAS while holding NEO is one of the main factors why it has become one of the best performing coins of 2019. Will NEO continue its impressive growth rate? Only time will tell.
Source: Crypto Daily

XLM, ADA, BTT: Why You Should Keep An Eye on these Currencies

This year is turning out to be an interesting one for the crypto market. Even though we’re just halfway through the year, we can already sense that 2019 will end in a positive note.
But there’s always some coins to bet on. So today, we’re going to look at a few altcoins that are looking like they are about to do something exciting in the second half of the year.
Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
Stellar
In recent months, Stellar has been keeping itself relatively under the radar. That being said, it has made a good recovery from the start of the year with the team working with their partners, exciting things are around the corner for XLM.
More and more users are getting involved with the Stellar platform which is seeing XLM make decent gains. The cryptocurrency could hit an all-time high later in the year so it’s worth keeping an eye on XLM.
Cardano
A former Ethereum developer founded this project, Charles Hoskinson who has the goal to provide a smart contract platform that wants to be a better option to Ethereum. Specifically when looking at how it permits communication amongst different blockchains, known to be extremely secure and very much scalable.

As reported by ZyCrypto:

“In any case, compared to previous years, 2019 has promised to be good for the cryptocurrency, and with upcoming developments, ADA will show up big for the rest of the year.”

BitTorrent
BitTorrent (BTT) is one of the coins that hasn’t garnered that much attention this year ot be honest. Yet it’s a great prospect for the latter half of the year.
So yes, it’s worth keeping an eye on BTT, especially if you’re new to the market. BTT in just a couple of days has been able to rise over 38 percent and has the momentum to carry on a bullish rally for the rest of the year.
Source: Crypto Daily

Alex Jones: Is Bitcoin a Ponzi Scheme?

Over the past year or so, Alex Jones has become apart of the Bitcoin community. This is mainly down to the several revelations made on his flagship show Infowars.
Jones has given his views on a few theories that can be often seen as controversial and at times, are contradictory.
Ponzi Scheme
In a discussion with the stockbroker and CEO of Euro Pacific Capital Inc Peter Schiff, Jones said that Bitcoin was little more than a Ponzi scheme. This was following the year-long decline in Bitcoin’s price throughout 2018.
Speaking to Schiff, Jones said that he turned down money to advertise cryptocurrency because he had sensed its impending collapse:

“That means they’re about to dump it… They’re pulling their money out of the Ponzi scheme, and they wanna bring in all the new suckers with the big advertising push to prop it up. So it collapses months later, and they don’t get the blame for pulling their money out – which is the crime – when they know it’s going down. It’s called a pump and dump.”

Once again, reading between the lines, there’s still a chance that representatives from cryptocurrency projects did pitch Jones some advertising deals. Especially in the run up to Bitcoin’s peak price point, when the ICO money was just about to blow up.
 
In the end, his Ponzi/pyramid scheme comments seem to become less viable by the day. Not because cryptocurrency is a safe bet but because it’s becoming useable in ways that Charles Ponzi’s tokenised shares never were.
The end of Alex Jones
In the months running up to December 2017’s all-time high, the pressure on Jones to plug the cryptocurrency was getting more intense. Jones told Schiff:

“I could have made in the last six, seven years: $300 million, literally, going with all the Bitcoin people and everything else. I know what people got paid; [They] offered me a million a month – real companies… And I never endorsed it because at the end of the day I thought it was going to be like the tulip bubble.”

But Jones said that this was part of a plan to ruin his reputation. He suggests that the plan was to first associate his name with Bitcoin and then dump both of them. According to greg Thompson for CCN, he says that he was:

“…getting offered by five or six companies a day now; millions of dollars a month to advertise this. I go: ‘I think they’re just trying to set me up so when it goes down my name’s on it’. So I’m glad I didn’t.”

Source: Crypto Daily

Italy’s Currency Issues Could See BTC come Out On Top

The Italian government is currently making a decision to issue a ‘parallel currency’. This is in a move that could see the eurozone crash into a crisis. For Bitcoin, this could see mainstream adoption.
On top of this, the Italian deputy minister proposed a tax grab on cash and valuables stored in safety deposit boxes.
These crisis policies show some pretty intense holes in the fiat monetary system. A move which pushed Rebecca L. Spang (currency historian) to call for a new foundation of money.
“The time has come for a new, more equitable, version of money.”
Whereas cryptocurrency wasn’t specifically mentioned by the historian, the crisis in Italy does build up a big argument for Bitcoin and the gang.

You see Spang’s tweet below. Sounds like Bitcoin would be the perfect solution, no?

So we need a new, more equitable model for money and money production. But that money should be indefinitely politicized is, I think, truly an awful thing to contemplate. FINIS
— Rebecca L. Spang (@RebeccaSpang) June 12, 2019
As reported by CCN:
“The proposed currency bills, known as mini-BOTs, are basically treasury bonds (buono ordinario del tesoro). But in a twist of economic rules, they’d be issued and accepted as a form of payment by the Italian government, circulating alongside the euro.
Mini-BOTs were initially conceived to pay back Italy’s insurmountable debt mountain (yes, paying debt with more debt). But the government would also accept the mini-BOTs back as payment for taxes, train tickets, and gasoline.”
Many sceptics of the Euro could adopt the new currency as an act of rebellion against the fiat currency
Spang says:
“If #MiniBots are introduced, they will be circulate[d] as a quasi-currency in parallel w euros. The anti-EU League Party is making vague #MMT anti #Austerity noises, but DO NOT BE FOOLED. A “parallel” voluntary money will not be good for ordinary people 3/x”
Whereas Bitcoin itself might not be the answer to Italy’s issues, cryptocurrency would be the best solution.
Source: Crypto Daily

Institutional Investment and Bitcoin

So far this year, the leading cryptocurrency Bitcoin has but touched the $9k key resistance level, which is a price range we haven’t seen since July last year. The crossing of the psychological level of $10k is still a price mark we have yet to reach in order to make a convincing reversal in the bearish trend. Even so, the flagship currency has sustained the gains for the past couple of months which is a bullish sign for long-term recovery.
Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
According to a recent report by Diar, Bitcoin supply holdings have moved since reaching the bottom. The most significant pattern that emerged is that of institutions making an investment in crypto in swooping up massive amounts of digital assets at these discounted prices.

Source – Data Driven Investor
As you can see from the chart above, retail size investors have increased steadily in all four categories with the biggest increase in 0.1-1 BTC category.
As written by Faisal Khan for DDI:

“The report states that over 26% of circulating supply or $36 billion worth of Bitcoin now resides in addresses having a balance of 1-10K BTC. These ‘Firm size’ addresses which held under 20% of circulating supply saw a spike of 7% in less than a year. Ever since the bitcoin bottom of $3200 in December 2018, this bracket has seen 1.2 million BTC added.”

The analysis hasn’t taken into mind the one-time movement of 856,000 BTCs by Coinbase at the end of last year but even without this information, more than 450k increase in this bracket makes it the biggest of all categories.

Source – Data Driven Investor
This second chart shows us the relationship between the amount of US dollar invested and the number of Bitcoins that were held in the BTC addresses since November of 2017.

“The $40 billion amount invested remained steady for almost a year before beginning to see an uptick starting in Nov. 2018. The increase preceded the BTC address gains which began to show up in February of this year. Since the start of 2019, 100K bitcoins have been added to this bracket & the amount in these addresses now stands at $6 billion (excluding Coinbase coins) more than the last time BTC was at $8000.”

Bitcoin is definitely the leader of the pack when it comes to cryptocurrency but big financial institutions are the ones who are driving it in the (hopefully) the right direction.
Source: Crypto Daily

Ripple Reveals RippleNet’s Expansion as 14 New Banks Sign Up

The global head of banking at Ripple, Marjan Delatinne has said that the firm’s network of banks and financial institutions, RippleNet, is expanding at an alarming rate, but in a good way of course!
Delatinne spoke in an interview with Bobsguide discussing the impact that blockchain tech has to offer for the finance world as well as just the world as a whole. Delatinne has said that 14 new banks and financial institutions have given the green light for RippleNet over the past few weeks alone.

“Among general audiences, they will still think that blockchain is the same as Bitcoin. But honestly what we see among banks and financial institutions that we are working with – and we have signed up with 14 in the past few weeks – is a decoupling of the concept of crypto assets and what the underlying technology can bring.
It very much depends on how you define blockchain. If you’re talking about speculation around Bitcoin and individual use cases, then people will probably laugh at the idea because it is still not clear. But if you’re really talking about cross-border payments, Ripple is leading in the space because of the approach that we have taken. We haven’t limited ourselves to the crypto use case, and that has helped banks and financial institutions embrace the technology.”

Ripple recently revealed that it’s adding up to three financial institutions per week, on average. On top of this, they said they have recorded more transactions on the network in the first quarter of this year than in the whole of 2018. The firm hasn’t released an update on the overall number of firms that have joined its network since revealing it has more than 200 clients at the end of last year.

Delatinne has said that the future of blockchain tech is mainly focused on liquidity and will first start off to make its biggest mark in smaller countries where it’s harder to move capital.

“This is where you will come face to face with the limitations of a piece of technology which has been in use for 40 years, and you will need something new. Liquidity management is really where the cost lies for banks because now some of the oldest markets in the world are moving to real-time. Of course, that is for small-ticket amounts, but as soon as your system and processes adapted to that, you can move to the large ticket amounts.
When that occurs, I think there will be a convergence towards new technology and the banks will experience it. Experts in liquidity management are realizing now just how far this new technology can bring them. After all, payments start with liquidity and end with liquidity.”

Source: Crypto Daily

$90 Million Worth Of Crypto Not Been Declared For Japanese Tax

Reports surfaced earlier today by the Japanese news outlet, The Asahi Shimbun that authorities are taking a look into some of the bigger crypto transactions and whether they’ve correctly been declared for tax purposes. According to sources close to the publication, there are around fifty traders and about thirty companies that have an estimated $90 million worth of cryptocurrency income.
The report claims that come to the start of next year, the new system will be integrated that would allow:

“Tax authorities to ask private-sector exchange operators to provide the names of clients under certain conditions, such as conducting transactions exceeding a certain amount.”

The high rate of tax on cryptocurrency is classified under misc. income and can potentially go up by 55 percent, has led authorities to believe that there are some under-reporting their crypto-profits. The report reads:

“The authorities also believe that holders of about 7 billion yen of such income made efforts to conceal their income from cryptocurrency transactions. In light of the discovery, tax authorities are apparently considering filing criminal complaints over tax evasion against those who have made especially large gains or used nefarious methods, such as masking their identity.”

Tighter Control
Japan has also revised its laws to provide more clarity over cryptocurrency. The legislation amending the Payment Services Act and Financial Instruments and Exchange Act was officially made law at the end of last month which will take effect in April 2020.
On top of the more significant changes, the act changes the term ‘virtual currency’ to something a bit more generic, ‘cryptographic assets’.
In addition, any firm so much as storing cryptocurrency will be seen as a ‘cryptogrpahic asset exchange’ and thus will be required to register and maintain what experts believe will be an expensive license.
The CEO of the Japanese token-based social media system ALIS, Masahiro Yasu said:

“Smaller companies will need abundant funds if more stringent management systems are required. It may be impossible to maintain existing business unless it changes.”

Source: Crypto Daily

Crypto Centre Being Considered For Russian/Chinese Borders

Leonid Petukhov is the head of the Agency of the Far East for Investments and Exports (IPA). Recently, Petukhov has said that a proposal is being considered to create an offshore financial centre on Bolshoy Ussuriysky Island. Located between the borders of Russia and China, the island would be a kind of hub for crypto trading.
The International Economic Forum recently held in St.Petersburg finished on Saturday, June 8th. Cryptocurrencies were a topic that came up quite a few times at the forum with a lot of representatives giving their thoughts on the issue.
Petukhov said that the government body was mulling over creating a financial centre on the Chinese-Russian border.
Located on the Amur River (the tenth longest river in the world), the island would be a good location for such a challenge. Located within the city limits of Khabarovsk, the island falls under the Chinese and Russian borders. This adds to the benefits of the location as it would allow for a collaboration between the two nations.

As reported by Anton Lucian for Be In Crypto:

“The purpose of the center, Khabarovsk says, would be to serve as a hub for cryptocurrency trading, crypto-related stock exchanges, and other foreign exchange markets.”

Lucian goes onto say:

“Currently, Russia boasts two other administrative districts designed as hubs of finance. One such district is located on the Russky Island in Vladivostok; another is located on the Oktyabrsky Island in Kaliningrad. Residents of these areas are fully exempt from income tax when it comes to dividends and profits from shares of foreign companies.”

But there isn’t this kind of centre in existence for crypto trading at the moment. This would make the Bolshoy Ussurisky island the first.
Russia is seemingly looking to learn from these experiments and craft their own economic ‘zones’ specialising in cryptocurrency trading and foreign exchange markets. By deciding to pick a location on the Russian-Chinese border, it remains to be seen whether Chinese authorities will comment on the proposal in the near future.
Source: Crypto Daily

Mixed Reactions on Block.one’s Plan to Launch EOS Powered, Voice

At the start of this month, the firm behind the EOS cryptocurrency, Block.one announced that they will be launching a blockchain-powered social media platform.
During a presentation at a presentation in Washington DC, Block.ones CEO, Brendan Blumer, announced the news. The open source software publisher’s social media network, Voice, will be deployed on one of the biggest platforms for building dApps, EOS.
Existing social media platforms like Facebook are designed to ‘use their users’ according to Blumer. He explained that users’ data, attention and the content they produce are all quite valuable. Even so, the crypto entrepreneur pointed out that current social media networks are designed to mainly benefit the platform.

“It’s the platform, not the user, that reaps the reward. By design, they run by auctioning our information to advertisers, pocketing the profit, and flooding our feeds with hidden agendas dictated by the highest bidder. Voice changes that,” according to Blumer.

In giving users more control over their, developers at Block.one will launch Voice on EOS public proof-of-stake blockchain.
On Block.one’s website it says:

“Voice will cultivate creation, sharing, discovery and promotion of content on social media platforms by real users, not bots and fake accounts. Through a truly self-sustaining economy of ideas, users will directly benefit from their ideas and engagement on the platform.”

Voice will be deployed on the EOS blockchain and will allow for greater transparency. This is to be a key part of the user experience.

“Everyone –the user, to contributor, the platform –plays by the same rules. No hidden algorithms, no invisible interests.”

Some people believe that Block.one are trying to hard to make an extra use for EOS such as the co-founder of Delphi digital, Tom Shaughnessy who responded to Ran NeuNer’s initial tweet which said

“Block one, the founding company of the EOS chain is launching a blockchain powered competitor to Twitter. Participants will be rewarded for engagement using tokens that represent a portion of the ad revenue.”

Shaughnessy responded to this saying:

Better tweetAfter already founding a BC social media site (@steemit) @bytemaster7’s Block One is at it again looking to tack on a use case for EOS which is already perfectly addressed by TwitterKicker – all data built on top of EOS is at the whim of 15 of 21 block producers https://t.co/WTyu0PK4fS
— Tom Shaughnessy🦉 (@Shaughnessy119) May 31, 2019
Source: Crypto Daily

QuadrigaCX Victim? The FBI Needs Your Help!

Unless you’ve been living under a rock the past few months, you will have heard about the QuadrigaCX exchange which lost its co-founder at the end of last year due to complications with Crohn’s disease. Gerald Cotten’s death left a lot of people unable to access their funds leaving most of them scared that they wouldn’t see them again.
It seems that now the multiple criminal investigative agencies within the US are looking into the circumstances of the now-defunct Canadian crypto exchange.
A press release published earlier this week showed the Federal Bureau Investigation (FBI) are on the Quadriga case now, investigating the exchange, which filed for bankruptcy following the death of Cotten.

The FBI have published a questionnaire for victims, asking for personally identifying information, contact information and details about their QuadrigaCX accounts.
The press release says:

“If you have questions or concerns about your QuadrigaCX account, or if you believe you are a victim, please complete the below questionnaire. Your responses are voluntary but would be useful in the federal investigation and to identify you as a potential victim. Based on the responses provided, you may be contacted by the FBI and asked to provide additional information.”

Both the Bureau and IRS are legally required to provide victims of federal crimes with information, assistance and other resources.
The FBI has allegedly investigating Quadriga since at least March this year.
According to his widow Jennifer Robertson, it was during a charity trip to India in December 2018 when Cotten suddenly died. But a month later, the exchange filed for creditor protection with help from the professional services firm Ernst and Young acting as the court-appointed monitor for the exchange. Even though the exchange was said to be holding around $135 million in cryptocurrencies, EY hasn’t been able to locate any of its holdings.
Last month, EY said the exchange had $21 million in assets but could owe customers as much as $160 million.
Source: Crypto Daily

The FBI & Blockchain: Investigation into SIM Swapping

One of the leading crypto exchanges suffered a loss of 7,000 Bitcoins, priced at more than $40 million, last month which was a big surprise for the industry. Of course, unless you’ve been living under a rock the past month, you will know that exchange was Binance.
It seems to now be a hot trend, a crime gaining popularity among elite programmers and fintech experts to exploit loopholes in smart contracts and vulnerabilities in crypto platforms.
Chainalysis notes that hackers have stolen cryptocurrency amounting to $2 billion since 2017.
In fact, an associate blockchain editor at the MIT Technology Review, Mike Orcutt claims “Most of these are never revealed”.
During September last year, a Japenese-based crypto exchange called Zaif was hacked and was a victim to a loss of just under 6,000 Bitcoins. A valuation of which by that time was worth over $65 million.

As reported by ZyCrypto:

“The company tasked with investigating the Zaif Security breach, Tech Bureau pointed out that a group of hackers’ gained unauthorized access to the exchange’s valuable wallets; and eventually made away with a mix of Bitcoin cash, Bitcoins and monacoin. Until today, neither Zaif nor Tech Bureau has been able to uncover the amount of Bitcoin Cash that was stolen.”

Back in March, the Federal Bureau of Investigation (FBI), released a stun warning to crypto users in regards to the security threats of sim swapping. The FBI’s San-Francisco branch team has claimed that a hacker could easily take control of a user’s device during a sim swap.
The threat became even more apparent after Michael Terpin lost millions of dollars in assets following a simple sim swap. Subsequently, Terpin launched a $224 million lawsuit against the mobile payment service, AT&T.
A special agent in charge of the San-Francisco branch John Bennet has said:

“The FBI has seen an increase in the use of SIM swapping by criminals to steal digital currency using information found on social media. This includes personally identifying information or details about the victim’s digital currency accounts.”

Source: Crypto Daily