Bitcoin Futures on the Bakkt Platform Soar 796% in One Day

When it comes to crypto and lightning fast growth, it’s usually something that happened over the course of a few months or years. Very rarely can we see something like the reported soar of the trading volume of the bitcoin futures on the Intercontinental Exchange’s (ICE) Bakkt platform. Daily summary of Wednesday’s Bakkt Bitcoin Monthly Futures: Traded contracts: 224 (+796%) (New ATH ) Day before: 25 New all time high: 224 Follow @BakktBot for realtime updates. pic.twitter.com/gd7nu1GndG — Bakkt Volume Bot (@BakktBot) October 10, 2019 The 8th of October showed…

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Bitcoin and Crypto Transactions Banned by Alipay

The digital payment branch of the Chinese e-commerce behemoth Alibaba, Alipay, has officially banned all bitcoin and crypto transactions. There’re several reports about @Alipay being used for bitcoin transactions. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations. [cont’d…] — Alipay (@Alipay) October 10, 2019 Yesterday, Alipay’s anti-crypto views were shared in a Twitter thread. The thread, which was met with huge disapproval, warned that the company is currently monitoring all over-the-counter (OTC) transactions closely. Monitoring is this strict in order to…

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Alipay and WeChat Now Used by Binance to Accept Fiat

The online payment service Alipay and the message and payment app WeChat will now be used by Binance. YES https://t.co/dnHKQSLvS4 — CZ Binance (@cz_binance) October 9, 2019 Binance will use WeChat and Alipay to begin accepting fiat. After confirming the new features, Binance’s CEO Changpeng Zhao, quickly stated that WeChat and Alipay are not working directly with the crypto exchange. He clarified that users are still able to use them for peer-to-peer transactions. Alipay and WeChat will probably join more future Binance projects Binance beginning to accept fiat is a…

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BCause Mining Ordered to Liquidate Its Assets Immediately

Virginia Beach’s bitcoin mining operation BCause Mining, was recently ordered to liquidate all of its current assets. Yesterday’s article of the local news outlet the Virginian Pilot, shared that BCause Mining had already filed for bankruptcy earlier this year. After a while, a local federal judge finally approved the motion and the company was able to begin converting the filing from the so-called “reorganization” to a chapter 7 liquidation. This court order was plain and simple: BCause Mining was to effective immediately, shut down all of its ongoing operations and…

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51% Attack Solutions Lead to More Centralization According to Core Dev

Greg Maxwell, a Bitcoin Core developer has recently criticized the overwhelming fearmongering in case of a 51% attack.  The expert states that all of the panic for such an attack on the bitcoin blockchain, is raised by people with a fundamental lack of understanding about bitcoin itself. Maxwell’s Reddit post was published last week and in it, he argued that so far, all of the mechanisms which were developed to combat the threat of a potential 51% attack on the bitcoin blockchain, heavily implied centralization and were in fact a…

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Biggest HODLers in Crypto Revealed: Crypto Exchanges

HODLing has always been ridiculed by some investors, and seen as a saving grace by others. It’s completely natural that a lot of people wanted to make a quick profit out of bitcoin and the biggest HODLers had the resources to accumulate large amounts of cryptocurrency without selling even during the $20K peak. Exchanges are the biggest #HODLers 6.7% (~$9.8B) of all #BTC in circulation is currently held on exchange wallets Through price rallies & crashes, we see that the stockpile of $BTC on exchange wallets has consistently been increasing.…

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QuadrigaCX Saga: CEO’s Widow Handing Over $9 Million to Clients

Earlier this year, the crypto world saw a very unfortunate tragedy. The CEO of the crypto exchange QuadrigaCX passed away and left cryptocurrencies worth over $150 million completely inaccessible for an uknown period of time. As time moved on, a large portion of the funds was still “lost”. A few months ago, the company appointed by QuadrigaCX, Ernst & Young, reported that Quadriga had transferred 103 bitcoins to cold wallets and they were inaccessible for anyone at the company. Clients of the now defunct exchange were left wondering what happened…

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TipJar: The Reddit Ethereum Tipping Service Was Just Shut Down

The Ethereum-powered tipping service on Reddit, TipJar, has officially shut down this week. The Reddit service allowed users to send micropayments between themselves in ERC-20 tokens and Ether. The official TipJar website has not been shut down and it will be open until April 2020. The official announcement stated that the main reason for the shutdown as the lack of activity. TipJar users were also urged to withdraw the funds they deposited as fast as possible. The shutdown was imminent and came with very little warning. Many users shared their…

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Bitcoin Blenders Are Enforcers of Decentralization

In recent times, the decentralized economy has had to contend with the fact that centralized authorities would want to bring cryptocurrencies under their purview. Even with the wide application of know your customer processes by exchanges, there seems to be no limits to the extent regulators would go to ensure that the identities of cryptocurrency users are known and that every transaction made on the blockchain can be traced. There has been a lot of investment in blockchain analysis companies by government agencies and exchanges. The latter seem eager to…

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PayPal Libra Partnership Has Concluded: Future Cooperation Possible

Last week it was revealed that the PayPal Libra partnership officially came to an end. Earlier in the week, rumors surfaced that PayPal was on the verge on leaving the Libra Association. They were quickly confirmed by the end of the week as no PayPal representative attended the meeting with the 28 Libra backers on the 3rd of October. An official representative quickly addressed some of the questions regarding the PayPal Libra partnership coming to an end: “It’s no secret that we support the project’s aspirations. That being said, we…

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