Platform Allows Users to Send and Receive Cryptocurrency With Gadget of Their Choice

The team behind a private digital currency for secure payments says its goal is to make every consumer their own bank — enabling them to send and receive crypto with the gadget of their choice. Xeonbit says its peer-to-peer technology ensures that every user’s accounts and transactions are “out of reach to any prying eyes.” A feature known as “ring signatures” means public keys are shuffled in order to ensure that particular users cannot be identified once a transaction has taken place. The startup says this is not at the…

Cryptocurrency Project OneCoin Denies Ponzi and Pyramid Scheme Claims

Cryptocurrency project OneCoin is denying claims that it is a “hybrid ponzi-pyramid scheme” and scam, news outlet Samoa Observer reported on May 14. OneCoin is purportedly a cryptocurrency Ponzi scheme project, that raised hundreds of millions of dollars worldwide by luring investors with the promise of big returns and minimal risk. An investigation by the United States found that the project’s founders had generated 3.353 billion euros ($3.769 billion) in sales revenue. In April, a church in the Pacific nation of Samoa became at the center of scrutiny after ministers…

Russian Sberbank Demands Client Provide Data on Cryptocurrency Revenue

Russia’s largest bank Sberbank has requested that a client provide information on their income from cryptocurrency, the Russian version of Forbes reported on May 17. Co-founder of cryptocurrency trading platform Toxenbox.io, Vladimir Smerkis, told Forbes that the unnamed client received a letter from Sberbank requiring disclosure of their crypto revenue. The letter based its demand on Federal Law No. 115, “On Combating Money Laundering and Terrorism Financing.” The client had reportedly already informed the bank about their income from exchanging cryptocurrencies. Specifically, Sberbank wanted to know the client’s crypto wallet…

Facebook Registers Secretive ‘Libra’ Cryptocurrency Firm in Switzerland

According to a Reuters report, Facebook registered a new company, Libra Networks, in Geneva on May 2. This coincides with the slow roll-out of their internal cryptocurrency that will define the company’s first foray into blockchain technology. Facebook Global Holdings is a stockholder in the new company and it will, according to Reuters, “provide financial and technology services and develop related hardware and software, plans submitted on the Swiss register reveal.” Facebook’s march towards crypto has been slow and steady. The company’s latest move, the hiring of two Coinbase compliance…

Coinbase Earn now allows users in 100+ countries to earn their share of $100M+ in cryptocurrency

Beginning today, users in more than 100 countries can start earning cryptocurrency by completing educational tasks at coinbase.com/earn. Introduced in 2018, Coinbase Earn enables Coinbase users to earn crypto for answering quizzes, completing tasks, and trying new decentralized protocols. Asset issuers likewise use Coinbase Earn to teach people how to use their new cryptocurrencies and blockchain projects. Earn opportunities are currently publicly available for Stellar Lumens (XLM), ZCash (ZEC), Basic Attention Token (BAT), and 0x (ZRX), with many more coming soon. As of today, we’re opening up Coinbase Earn to…

Just 376 Individuals Hold 33% of All Ether Cryptocurrency: Chainalysis

A third of all ether, ethereum’s native cryptocurrency, is owned by just 376 whales as of May 1, new research indicates. Blockchain analysis startup Chainalysis published a study on Wednesday, indicating that, while these 376 individuals control 33 percent of the circulating supply in 2019, that number is actually down from levels seen in 2016 and 2017. The study also found these whales have “no meaningful” impact on the ETH price, but they do increase intraday volatility in the cryptocurrency market when they make large sell-offs. Chainalysis defines whales as the…

Hacked Cryptocurrency Exchange Cryptopia Goes Into Liquidation

Cryptopia, the cryptocurrency exchange hit by a major hack in mid-January, has gone into liquidation and suspended trading operations. The news was announced Wednesday by Cryptopia’s assigned liquidator, professional services firm Grant Thornton New Zealand. Cryptopia confirmed the news on Twitter, as well as on its website. Possibly signaling changes afoot, Cryptopia website went under maintenance yesterday without any message to the public on its social media platforms. It was first noticed by a Redditor who asked whether the exchange had been hacked again. Back in January, Cryptopia went offline for…

Almost 12% of US Cryptocurrency Holders Are Long-Term Investors

Almost 12% of crypto holders are long-term investors, according to a survey shared with Cointelegraph on May 13 by HBUS, the operator of United States-based cryptocurrency exchange Huobi. The company reportedly surveyed 1,067 American participants between March and April this year, finding that 19.58% of people with an income higher than $99,000 per year are actively holding cryptocurrency. Still, people earning between $125,000 and $149,000 are the most likely to invest in crypto assets, according to the survey. The report also claims that in 2018, 8% of the respondents invested…

Cryptocurrency Mainstream Adoption | Is Ebay the Answer?

Are we on the verge of mainstream adoption for digital currencies? The list of companies accepting payment in Bitcoin is steadily growing and now one of the biggest e-commerce sites is hinting at joining that list. Global e-retailing giant, Ebay, has stirred rumors via its latest promotional adverts. Let’s check this out. Mainstream Adoption – Ebay to Support Digital Assets? At the Consensus conference in New York, Ebay’s banners suggested the company is about to enter the cryptocurrency space. In a photo leaked on Telegram channel @PatronsOfTheMoon, the two banners read…

Japan’s GMO Internet Sees 45% Cryptocurrency Profit Dip for Q1 2019

Japanese internet giant GMO Internet Group saw its cryptocurrency profits drop in Q1 2019 amid market weakness, Cointelegraph Japan reported, quoting a new statement on May 10. GMO, which in December 2018 withdrew from bitcoin miner production due to the fall in bitcoin (BTC) prices, saw revenues of 12.9 billion yen ($117.4 million) in Q1, compared to 23.3 billion ($212.1 million) in Q4 2018. Driving the decrease was continued suboptimal performance of bitcoin mining, along with reduced volumes for GMO’s cryptocurrency exchange as traders held off buying and selling. The…