Monero “Mistake”—Now You Can’t Pay for Fortnite Merch with Monero

If you were excited about Friday’s news about Monero (XMR) being accepted on the Retail Row store, well, sorry to break the bad news, but according to CEO of Epic Games, Tim Sweeney, it was all a “mistake.” Oops, but also… how? Monero Mistake Over the weekend, the CEO of Epic Games—the creators of 2018’s biggest game, Fortnite—admitted that adding Monero as a payment method on the games online store was a “mistake.” And not a ‘Now that I have reflected on my actions I believe I chose the wrong course of action’ mistake,…

Bitcoin News Summary – January 7, 2019

Here’s what happened this week in Bitcoin in 99 seconds.  The forthcoming major exchange Bakkt announced the completion of their first funding round, which raised $182 million. Bakkt intends to cater to institutional interest in Bitcoin and other digital assets. Concerns surfaced regarding crypto exchanges. Bitcoin investor, Trace Mayer, called for a “Proof of Keys” event on the 3rd of January. Users were prompted to withdraw their bitcoins from exchanges to test for full or fractional reserves. HitBTC froze certain client’s withdrawals ahead of the event. Other companies listed…

Fake News Site Promotes Bitcoin With Image of Ex-New Zealand PM

An alleged fake news website released a crypto-related article employing the image of former New Zealand prime minister John Key, local media outlet Stuff reported Jan. 5. The ad reportedly promoted Bitcoin (BTC) and a company called “Crypto Revolt,” which is allegedly a cloned scam site. The article further explains that the advertisement imitates a Stuff business news page and “purports to interview John Key on his enthusiasm for Bitcoin.” Moreover, in place of the Stuff logo there is an “NZ Times” logo, and all the links reportedly lead to…

Bitcoin Payments Aren’t Dead, They’ve Just Gone Niche

When Frank and Nikki McKeever founded their small art retailer in Florida in 2012, they never could have imagined that cryptocurrency would become an integral part of their business. In September 2017 – a period of surging cryptocurrency prices and publicity – the Lynx Art Collection began offering crypto-themed artworks with litecoin, monero, ether, and bitcoin payment options. Yet even when market prices dipped, their gallery sales continued climbing. “The bear market didn’t really affect our sales throughout the majority of 2018,” Frank McKeever said. Revealed exclusively to CoinDesk, the Lynx…

BTT Token Coming Soon | First Step in Supporting Decentralized Internet

On Thursday, January 3rd, BitTorrent, Inc. said that it plans to launch a crypto token, called the BitTorrent token (BTT). While many have done something similar, CEO Justin Sun described the BTT token as having a competitive edge. BTT Token Coming Soon According to Sun, the BTT token is “the first in a series of steps to support a decentralized internet.” For the most part, the BitTorrent token will be used to achieve quicker download speeds. It can be bought, sold, and traded. Speaking further on the matter, Sun said…

Circle Executed $24 Billion in OTC Trades in 2018

The over-the-counter (OTC) trading desk at cryptocurrency finance firm Circle had a notional volume of $24 billion in 2018, according to an official Medium blog post on Jan. 3.   Per the statement, Circle executed 10,000 OTC trades with 600 different counterparties, at $24 billion in volume. As such, the company claims to have become a “core liquidity provider to the entire crypto ecosystem.” According to Circle, the firm now partners with over 1,000 institutional clients such as exchanges, token projects, OTC desks, asset managers, and other global endowments. Circle…

Samsung Crypto Wallet | Is the New Wallet Rumor or Reality?

2019 is supposed to bring a lot of things, but is a Samsung crypto wallet one of them? Maybe. According to reports, the company recently filed a UK trademark for a crypto wallet.  Samsung Crypto Wallet: Rumor or Reality? On December 27th, the UK Intellectual Property Office published a filing. It details how Samsung, a South Korean electronics behemoth, has applied for a UK trademark for a crypto wallet. For those who don’t know (and according to blockgeeks.com) a cryptocurrency wallet is a software program that stores both public and…

Dark Overlord | Hacker Group Demands Bitcoin or 9/11 “Truth” Comes Out

“We’ll be providing many answers about 9/11 conspiracies through our 18,000 secret documents leak.” The group has already published a “teaser” that names law firms and gives out email addresses. It also mentions the Transport Security Administration and the Federal Aviation Administration, with promises of more to come. Those targeted are expected to pay an unspecified Bitcoin ransom. If they don’t pay up, the group claims “we’re going to bury you with this.” The Dark Overlord The Dark Overlord is a “professional adversarial threat group” that has struck many times before. The hacker group has previously hacked…

Mike Novogratz Ups Stake in Galaxy Digital to Own Almost 80% of Shares

Ex-Goldman Sachs partner Mike Novogratz has increased his shares of Galaxy Digital, the crypto-focused merchant bank he founded, Bloomberg reports on Jan. 2. Novogratz, who also serves as chief executive officer of the bank, now reportedly owns 221.2 million ordinary shares — which represents about 79.3% of ordinary shares assuming their conversion. Previously, he reportedly “beneficially owned 213.7 million Class B limited partnership units, representing about 76.6% of ordinary shares assuming conversion.” According to a statement made Wednesday and reported by Bloomberg, the CEO bought his 7.5 million new shares…

Resisting the Threat of Blockchain Recentralization

Chelsea Palmer is an open source educator and free agent in the cryptocurrency ecosystem who tweets (too much) at @IMmsGNU. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. I think most can agree that it’s been a hell of a long year, in crypto and in general. The greatest way to reflect back on the year may be to review our expectations as we entered it; to this end, I’d highly recommend a revisitation of the “95 Crypto Theses” post by Ryan Selkis. Selkis was wise…