Vanguard’s $1.3 Trillion Blockchain Makes Bundesbank Look Foolish

By CCN: Vanguard, the world’s largest provider of mutual funds, is using blockchain to power their enterprise. The investing giant, which popularized mutual funds and exchange-traded funds (ETFs) for the common investor, has been using distributed ledger technology to manage $1.3 trillion worth of index funds, Forbes reports. Vanguard’s Blockchain Manages More Than $1 Trillion in Assets Since February, Vanguard has used blockchain to manage financial data for one-quarter of its assets, valued at $1.3 trillion. More than just a one-off trial, the service is operating live for millions of…

North Korean Hackers Attack Upbit Users in South Korea

North Korean hackers have made a phishing attempt on users of the South Korean crypto exchange Upbit. News correspondents in Korea broke this development on May 29, 2019, detailing the ploy to steal Upbit users’ information. The hackers sent out an email claiming that Upbit users needed to submit more information to become eligible for a prize drawing. When users opened up the email reportedly containing information about a phony sweepstakes and its payout, malware would activate, giving the hackers access to user information and control of their devices for…

Bitcoin Price Analysis: Bullish Market Structure Upheld Following…

Summary: Although we saw a strong sell off yesterday, the bullish market structure has yet to be violated. The weekly support has been confirmed for the time being and our parabolic advance is still intact. We are currently failing to hold support in the $8,500s for our intraday market structure. As we test the failed support we have yet to confirm if it has new found resistance. If we fail to regain the level we can expect to see an intraday retest of our weekly support level in the $8,100s.…

Coinbase Adds Support for EOS Cryptocurrency on Retail Site and Apps

Coinbase has added support for the EOS cryptocurrency for its retail customers. The exchange announced in a blog post on May 30 that the option would be available on Coinbase.com and its Android and iOS apps, allowing users to buy, sell, convert, send, receive or just store EOS. The token was added to its Pro platform back in April. While the EOS option is now available for customers in “most” of Coinbase’s served jurisdictions, the U.K. and the U.S. state of New York are not included initially. “Additional jurisdictions may be…

Collapsed Crypto Exchange Cryptopia Owes Creditors $2.7 Million: Liquidators

The liquidators of failed New Zealand crypto exchange Cryptopia have released their first report on the firm’s financial situation, revealing that it owes over US$2.738 million to creditors. The appointed liquidator Grant Thornton New Zealand published its report Friday, saying that 69 unsecured creditors are owed at least $1.37 million and secured creditors over $912,000, with an expected deficit of $1.63 million. Secured creditors include Dell NZ and Coca Cola Amatil (NZ). Staff at the firm are owed $207,000 for outstanding salaries and holiday pay, as well as $177,000 in unsecured debt. Grant Thornton…

Bitcoin (BTC) Price Signaling Fresh Increase: Buying Dips Favored

Bitcoin price corrected lower recently and tested the $8,425 support against the US Dollar. The price bounced back and it is currently trading above the $8,600 resistance area. There was a break above a key bearish trend line with resistance at $8,690 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported on dips and it is likely to climb above $8,800 in the near term. Bitcoin price tested the key $8,425 support and the 100 hourly SMA against the US Dollar. BTC…

‘Mario of the Blockchain’ CryptoKitties Has Yet to Gain Wide-Scale Usage

 By CCN: CryptoKitties, a smart contract-fueled decentralized app (dApp) built on the Ethereum blockchain, was supposed to be the one to jumpstart mainstream adoption of crypto. You know, kind of like the Mario Bros of crypto, but instead of Luigi and Mario, there are digital cats. After all, it was the app to clog the Ethereum blockchain, causing a bottleneck from the game’s popularity that slowed transactions to a snail’s pace. Nonetheless, the crypto ecosystem is still waiting for that one ‘killer app’ now that CryptoKitties and other promising dApps…

Even if Facebook Launches GlobalCoin, It’s Going to Struggle: This is Why

While not official, it looks like we’re going to see Facebook’s GlobalCoin sometime soon. And yet, if this rollout does happen, new research has indicated that the Facebook cryptocurrency will struggle to gain traction. Here’s why. Facebook’s GlobalCoin Hits Roadblock The most recent piece of news about Facebook’s GlobalCoin came out last week, on May 24. It was at this time that BBC, a UK broadcasting company, said social media giant Facebook plans to launch its cryptocurrency GlobalCoin next year, even going as far as saying the company plans to conduct…

Bundesbank Ridicules Blockchain: Not a ‘Breakthrough’ Technology

By CCN: The president of Bundesbank – Germany’s central bank –  is not impressed by blockchain, despite the technology experiencing increased adoption in other sectors. German Central Bank: Blockchain Slow & Expensive According to statements made in Frankfurt on May 29, Bundesbank President Jens Weidmann claimed that a trial project to integrate blockchain failed miserably. As opposed to improving the bank’s operations, blockchain was slower and more costly, leading the president to conclude the technology failed to bring a “breakthrough” to the banking industry. Germany’s central bank ridiculed blockchain proponents’…

Chinese Listed Companies and Bitcoin Mining: Partner or Predator?

This article was originally published by 8btc and written by Lylian Teng. Some Chinese listed companies have jumped on the bandwagon of bitcoin mining following the bitcoin bull run throughout 2017, either under the guise of cloud computing or providing mining hosting services, in an effort to bypass regulations considering the country’s tough stance on bitcoin. A recent report indicating that Huatie HengAn, a subsidiary of Chinese publicly listed company Huatie, lost over $23 million for its secret bitcoin mining business has caused quite a stir among investors and triggered…