Vidi, Vici, Satoshi: The Lightning Torch Has Reached Its Final Destination

The Lightning Torch, a Lightning Network payment that has been forwarded to bitcoiners around the world via Twitter, has run its course and reached its end in the charitable hands of Bitcoin Venezuela. It’s grown a lot since we last covered it in February. In fact, the term “Torch” doesn’t seem to do it justice anymore. At this point, it could rightly be called a bonfire. Admittedly, it’d be impossible to pass a bonfire around the world (a Torch sounds much more feasible), but the Lightning Torch doesn’t care much…

Top Trump Advisor’s Shocking Claim Proves Why We Need Bitcoin

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. As the Trump administration passes a snowballing debt pile onto Generation Z with self-serving monetary policy, a powerful pro-Bitcoin argument once confined to developing nations is coming home to roost.…

Crypto Exchange Bithumb Posts $180 Million Loss for 2018

Bithumb, South Korea’s largest cryptocurrency exchange, has posted a net loss of 205.5 billion won ($180 million) for 2018. CoinDesk Korea reported the news on Thursday, saying that the loss was mainly due to a sharp decline in the cryptocurrency market last year, though the company’s operator BTCKorea also cited infrastructure investments and labor costs as factors. The figure marks a big swing into the red for Bithumb, having recorded a net profit of 534.9 billion won ($469 million) in 2017. The exchange’s revenues, on the other hand, grew around…

With Latest Partnership, Ledger Vault Offers a Fix to Crypto’s Custody Problem

Within the sphere of traditional finance, at least, crypto has a custody problem. The problem? Crypto is complicated, security is tricky and — if we’re being frank — the suits don’t know a bit from a byte (or a blockchain from a cloud server). In fact, you could rightly say that what makes crypto, well, crypto actually makes them nervous. Unlike settling traditional assets, you can’t reverse a bitcoin transaction, the blockchain offers no internal or centralized controls and there’s no one to go to if you muck up a…

Craig Wright Threatens Libel Suit In Letter to Bitcoiner, Demands Apology

Update April 12, 2019: A crowdfund has been launched to help cover Hodlonaut’s legal fees. If you would like to donate, you can find the website here. Less than 24 hours after its launch, the fundraiser has raised $15,500, more than 75 percent of its soft cap goal. You can also donate by purchasing Hodlonaut swag through the BITCOINTEL.PRO store. As community members band together to give Hodlonaut a monetary hand, another prominent member of the community, What Bitcoin Did podcaster Peter McCormack, has been served a similar letter to…

Coinbase Introduces Debit Card Linked to Cryptocurrency Balances for…

Major U.S.-based crypto platform Coinbase has launched the Coinbase Card, a debit card that lets U.K. customers make purchases online and in-store using cryptocurrency. The new card will link the customers’ crypto balances held on the Coinbase platform with their debit cards — converting crypto holdings into fiat currencies to complete each transaction. The Coinbase card gives users the ability to make payments via “contactless, Chip and PIN, as well as cash withdrawals from ATMs,” an official press release from the exchange states. The debit cards will be issued by…

Bittrex Goes on the Offensive After BitLicense Rejection

Bittrex, a United States–based cryptocurrency exchange platform, has issued a response to the recent setback in its plans to expand to New York. Yesterday, the New York State Department of Financial Services (NYDFS) rejected the exchange’s BitLicense application, a requirement for offering crypto-based services to New Yorkers. NYDFS also published a letter addressed to Bittrex CEO Bill Shihara, where it cited inadequate Anti-Money Laundering (AML), Know-Your-Customer (KYC) and Office of Foreign Assets Control (OFAC) standards as reasons for its denial. Bittrex had applied for the permit in August 2015 and…

Binance Partners With CipherTrace in Latest Compliance Push

Malta-based cryptocurrency exchange Binance is embarking on a multi-pronged push to boost compliance procedures across its platform. To that end, Binance is announcing a new partnership with the blockchain analytics firm CipherTrace to enhance anti-money laundering (AML) processes like tracing the source of on-chain funds and matching user IDs to problematic wallet addresses. “We are very serious about improving our compliance standards,” Samuel Lim, head of compliance at Binance, told CoinDesk. “We will continue to build our [compliance] team, continue to re-invest in the compliance space.” The addition of CipherTrace,…

Bitcoin Beats the Dow, Outperforming Every Single Stock, in 2019

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Traders and analysts are screaming about the stock market’s “historic” first quarter. The Dow Jones Industrial Average (DJIA) – which tracks 30 of the largest American companies – has staged…

Bitcoin Futures Exchange Bakkt Hires PayPal, Google Vet as Product Chief

Bitcoin futures exchange Bakkt has hired a PayPal and Google veteran as its new chief product officer. The firm announced Thursday that it had hired Mike Blandina, who at various points in his career served as head of payments and credit engineering at PayPal and director of engineering for Google Wallet. Most recently, Blandina was chief technology officer and head of product and engineering at OneMarket, Bakkt CEO Kelly Loeffler wrote in a blog post. “As our CPO, Mike will lead our efforts to converge a trusted ecosystem for digital…