Hodl or spend? Retailers offer Black Friday deals for those paying with cryptocurrency

Cryptocurrency adoption is slowly but surely making its way to the mainstream — a notion that has become more apparent as major retailers like PayPal announce support for digital currencies. As such, it shouldn’t come as a surprise that crypto holders may be keen to spend some of their digital currency this holiday season.  According to a new report from Forrester and blockchain payments service provider BitPay, cryptocurrency adopters tend to spend more than other consumers. Based on interviews with BitPay merchants, the report noted that cryptocurrency users have an…

Bitcoin Headlines Sour as Leading Cryptocurrency Corrects

Key Takeaways Bitcoin holders have grown overwhelmingly bullish, which is a negative sign form a counter sentiment perspective.  A well-known technical indicator among institutional investors adds credence to the pessimistic outlook. If sell orders begin to pile up, BTC could see its price retrace towards $14,000. Share this article Bitcoin sits a few hundred dollars shy from new all-time highs, but several on-chain metrics and technical indexes suggest that the latest correction may steepen.  Crypto Enthusiasts Grow “Extremely Greedy” Bitcoin made headlines after climbing above $19,000 for the first time…

These 5 altcoins are beating every major cryptocurrency this week

Bitcoin (BTC) has topped $19,000 in a fresh bullish surge, but traders are all about altcoins on Nov. 24. In what many are heralding as the beginning of “altseason,” large-cap cryptocurrencies are seeing their biggest gains in three years. XRP, XLM lead new “altseason” Cointelegraph takes a look at five of the biggest movers, all of which have returned to at least a $1 billion market cap. Top altcoins by weekly gains. Source: CoinMarketCap XRP Ripple’s XRP token is gaining traction on social media after a curious lull, thanks to…

Cybercriminals attack GoDaddy-based cryptocurrency platforms

Yesterday, security researcher KrebsOnSecurity reported that several cryptocurrency platforms hosted by popular hosting provider Godaddy have been attacked over the past week. According to KrebsOnSecurity, the attacks began on or around November 13th on cryptocurrency trading platform liquid.com. Liquid CEO Mike Kayamori said GoDaddy incorrectly transferred control of the account and domain to a malicious actor. Kayamori added that the move allowed a malicious actor to change DNS records and thus, take control of a number of internal email accounts. Additionally, a malicious actor was able to partially penetrate the…

Binance files US lawsuit against Forbes and two cryptocurrency journalists

Binance has filed a lawsuit in the state of New Jersey against Forbes Media and two of its journalists, Michael del Castillo and Jason Brett, alleging that an article published under the title Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators was defamatory. Binance is demanding both compensatory and punitive damages. The article, which appeared on the Forbes website on Oct 29 2020, reported that the ‘Tai Chi’ document contained details of a scheme designed to “intentionally deceive regulators” in the United States. According to Forbes,…

Kyrgyzstan’s central bank developing draft law for cryptocurrency industry

The central bank for the Central Asian country of Kyrgyzstan is working on a draft law to regulate the cryptocurrency industry in the country. According to an announcement on Nov. 13, the National Bank of the Kyrgyz Republic is developing a draft law that would regulate cryptocurrency exchanges in consultation with industry stakeholders. The bank stated that the draft law would regulate the sale and purchase of cryptocurrencies with the aim of tackling fraudulent cryptocurrency schemes and financial crimes, as well as safeguarding consumer and investor rights. Among the expected…

$50 Million Lost: The Top 19 DeFi Cryptocurrency Hacks of 2020

Key Takeaways The DeFi surge in 2020 led to more than a dozen hacks over several months. More than $50 million was lost due to bugs, exploits, and hacks. Although some losses were recovered, DeFi users need to stay vigilant when interacting with applications. Share this article DeFi is nothing short of a revolution. Automated blockchain-based financial primitives open a world of possibilities to disrupt traditional finance and make it more accessible. This immense potential attracted a massive wave of users and investors to the space. In a matter of…

The cryptocurrency sector is overflowing with dead projects

In 2017, when everything concerned with cryptocurrency and blockchain still looked fresh and interesting, it seemed that there would be no day without a new “revolutionary” project or idea. Decentralized financial system, decentralized torrent tracker, decentralized office documentation system. Decentralized, decentralized, decentralized. The overuse of terms like “transparent,” “distributed” and “blockchain-based” soon made most press papers look generic. The closer we got to the peak of the Bitcoin price at the end of 2017, the more absurd the names of new projects became: “Ethereum-based payment system for slaughterhouse industry workers,”…

Why low latency is important for cryptocurrency exchanges, explained

In the volatile world of cryptocurrency, latency becomes even more important than ever before, as prices can move swiftly in a matter of seconds. Furthermore, extremely low latency will be essential in bringing institutional money into these platforms. The digital nature of cryptocurrency, not to mention the hype and uncertainty that surrounds the majority of the space, can lead to substantial volatility in crypto markets. Only a few seconds can make a huge difference in how successful a strategy is. More than ever, traders need to know that their trades…

PayPal might issue its own cryptocurrency soon, says CoinShares exec

Global digital payment giant PayPal might be moving into issuing its own cryptocurrency after officially entering the crypto industry, according to a major industry exec. Meltem Demirors, CSO at digital asset management firm CoinShares, says that she will not be surprised if PayPal issues its own token after the company broke the news of its soon-to-come support for crypto.. In an Oct. 21 interview with CNBC’s Fast Money, Demirors claimed that PayPal’s supporting crypto could eventually become a basis for launching its own, stating: “I wouldn’t be surprised if, in…