Quonic: Crypto-Friendly Bank Is Open to Crypto Companies

It’s a very welcomed sight when banks finally begin to realize how outdated they are and attempt to modernize. Quonic Bank from New York City bank however, has recently begun to do business with crypto companies. This puts the bank in the very limited list of US financial institutions who have begun to embrace the crypto sector. Quonic Bank opened a checking account for a bitcoin ATM company last month. There are also ongoing negotiations to complete a contract to deliver banking services to another emerging crypto startup. Steven Schnall,…

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Smominru: Monero Malware Now Goes After User Data

The Malware Smominru is known for mining Monero (XMR) and having a very large infection rate. Projections show that there are at least 500 000 infected personal computers. According to the cybersecurity company Carbon Black however, it seems that Smominru has received a major upgrade. The company’s Threat Analysis Unit seems to have discovered that a new component has been added to the malware. This new component enables Smominru to now steal system access information. The report states that the stolen information is almost always found on the dark web…

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New RAT Targeting Cryptocurrencies Discovered by Zscaler ThreatLabz

Zscaler ThreatLabZ analysts have managed to locate a unique type of trojan that overwhelmingly seems to target cryptocurrencies. In last week’s blog post, analysts from the cyber security firm reveal that they managed to identify a new remote-access trojan (RAT). This new RAT is able to capture the administrative control of the infected computer and scan its entire browsing history for activity which involves crypto, social media, credit card usage and others. This RAT has been dubbed Saefko and seems to be written in .NET. NET is a software framework…

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No Deal Brexit Will Increase Bitcoin Importance in the Global Economy

Many analysts agree that the looming possibility of a no-deal Brexit, could propel Bitcoin’s price to unexpected heights. A rather bold prediction comes from the CEO of Commerce Block, Nicholas Gregory. He goes as far out as to state that an eventual no-deal Brexit could fundamentally change Bitcoin’s position in the entire global economy. The ever-increasing prospect of a no-deal Brexit, recently caused the UK pound to lose value against many other major currencies. As the newly-appointed Brexiteer Boris Johnson stated: “The United Kingdom will do or die and eventually…

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Should Young People Invest in Bitcoin

  Young people have a time horizon of 30 to 50 years of investment period toward their retirement age of 60 years old or even earlier. Having that in mind, it’s advisable to invest when you’re young. In addition to that, young people should also know where to invest their money. Should you invest in a company? Should you invest in mutual funds? Or should you invest in currency? One of the most popular investments is a cryptocurrency, specifically Bitcoins.  Should young people invest in bitcoin? If you want to…

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Tether Whales Are Over 300 and They CAN Influence Bitcoin’s Price

Earlier this week, Coin Metrics released data showing that exactly 318 addresses hold at least $1 million in Tether. This means that those 318 Tether whales hold roughly 80% of the entire global Tether supply. Nic Carter, co-founder of Coin Metrics also mentioned that much like other crypto whales, a great deal of the Tether whale accounts, belong to major crypto exchanges like Bitfinex and Binance. The report further dives in the difference between traditional crypto whales and Tether whales. Bitcoin whales for instance, hold roughly 20% of the entire…

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Gold and Bitcoin Correlation Increased Dramatically In Recent Times

Earlier this week, Bloomberg revealed interesting information about gold and bitcoin. According to the most recent data, the correlation between gold and bitcoin has increased by almost 100% in the last 3 months alone. Data shows that over the past year, the correlation between gold and bitcoin was 0.496. From May until the beginning of August, this number has almost doubled up to 0.837. A coefficient above 1 will indicate perfect correlation while a coefficient below 1 complete non-correlation. Gold and Bitcoin should be carefully watched Bloomberg highlighted that throughout…

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Max Keiser: Very Optimistic on Bitcoin Dominance and Bitcoin in General

Max Keiser is a very well-known Wall Street trader and an avid bitcoin supporter. Earlier this week, Keiser claimed that bitcoin dominance will increase up to 80% and most altcoins are on their deathbeds. He strongly suggested that all crypto investors gravitate towards bitcoin as soon as possible. #Bitcoin dominance 68.2% – heading to 80% – as alts die in favor of BTC. The 2014-2017 era of alts and hard forks is dead. Don’t be the last to rotate out of alts into BTC. — Max Keiser, tweet poet. (@maxkeiser)…

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IRS Scam Letters Are Being Sent To Crypto Users in United States

Crypto users from the United States now have one additional reason to dislike the United States Internal Revenue Service (IRS). This is due to the fact that many crypto users have reported IRS scam letters attempting to con them out of their funds. Earlier this week, Forbes reported that IRS scam letters are being used in order to capitalize the general lack of public familiarity with actual IRS correspondence. Additionally, threats of legal action have been used among other tactics. There are many different types of IRS scam letters The…

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Macroeconomic Factors are Key Behind Bitcoin’s Recent Price Surge

Jeremy Allaire, the CEO of crypto payment company Circle recently stated that the reason behind bitcoin’s growth is macroeconomic. While interviewed on CNBC, Allaire pointed out that bitcoin has more or less become a safe haven. He stated that the most popular cryptocurrency is looked as the most reliable option during these times of macroeconomic and geopolitical uncertainty. A lot of macroeconomic factors are in play Allaire mentioned that there is an obvious correlation between bitcoin recent gains and the devaluation of the Chinese Yuan. Not a single expert can…

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