Source

Bitcoin (BTC-USD), as well as the blockchain enterprise sector in general, has become increasingly correlated with stocks in recent months. Due to the upcoming election, the lack of progress on the fiscal stimulus front, uncertainty about the state of the economy going forward, the likelihood of an increase in volatility, as well as other factors, things could get messy in the blockchain enterprise segment in the weeks ahead.

Bitcoin: 1-Hour Chart

Source: Binance.com

We see that BTC is forming what appears to be another head and shoulders pattern, similar to the prior ones in the chart above. Furthermore, Bitcoin got rejected at the critical $11,800 resistance level recently and broke through support at $11,500. More recently BTC has been testing the $11,250 area of support and is dangerously close to breaking below this crucial level. If $11,250 gets penetrated, Bitcoin could melt down further below $11,000 and possibly retest $10,500, as well as $10,000 support levels next.

Source

Despite the possibility for short-term downside, we remain quite bullish on BTC and the overall digital asset segment long term. As the above chart illustrates, BTC moves in waves, and the top of each wave is substantially higher than the previous top.

I see no reason for this trend to end, and the next major top will likely be substantially higher than the previous one around $20,000. In fact, I believe the next major top could be around $75,000, but it will likely take some time (1-3 years) to get there.

Since the mid-March bottom, Bitcoin has roughly tripled, while the S&P 500/SPX (SP500) has appreciated by about 58%. Despite the clear outperformance, we see that Bitcoin has been moving largely in tandem with the stock market. This was also apparent during the February/March meltdown as stocks and Bitcoin essentially meted down simultaneously.

So, here we are now. The presidential election is approaching, certain economic indicators as well as some key company earnings are coming in worse than expected, fiscal stimulus seems to be off the table until after the election, volatility appears to be picking up, and Bitcoin coupled with stocks could experience another notable leg lower.

Despite the apparent correlation with stocks, we remain very bullish on Bitcoin and select blockchain enterprises in the intermediate and long term. One reason for this is because Bitcoin and systemically important digital assets are likely to play an increasingly important role in the future economy, as some offer valuable services and others serve as digital currencies/payment systems.

Furthermore, Bitcoin and other key "coins" are essentially inflation proof, as there is only a certain amount that can ever exist in circulation (Bitcoin 21 million). A stark difference to the dollar and fiat currencies in general that are being debased on a perpetual basis and can be printed endlessly if so desired by central banks.

Bitcoin is the gold standard of the digital asset market, and it serves as a payment system as well as a unique store of value mechanism.

Transactional Coins

Litecoin (LTC-USD): If Bitcoin is akin to digital gold, then Litecoin is somewhat akin to digital silver. It may not be the store of value that Bitcoin is in the digital world, but it is a far more efficient transactional vehicle.

Bitcoin Cash (BCH-USD): Bitcoin Cash is another transactional coin, much like Litecoin that can handle scale, speed, and cost far more efficiently than Bitcoin.

Zcash (ZEC-USD): Zcash is another top and very promising transactional coin, but is more encrypted, thus making transactions more difficult to track.

Dash (DASH-USD): Another top transactional coin, similar to Zcash.

Monero (XMR-USD): This is the only top transactional coin that I am aware of that is essentially untraceable.

Please understand me correctly. I am not talking about nefarious transactions, money laundering, etc. here. I am simply pointing out that there are coins that can be used with a certain degree of anonymity, and in my view, there is nothing wrong with that. The government does not need to know when, where, and how I spend my own hard-earned money. This is my personal libertarian viewpoint, and everyone is welcome to their own.

Functional Blockchain Enterprises

Not all digital assets/blockchain enterprises are created equal. In fact, the ones that I am discussing are all different and have their own unique role to play in the future economy. Transactional coins are designed to work as currencies/payment systems, while functional coins are designed to perform a particular function/offer a service.

For instance: Ripple (XRP-USD) enables banks to perform interbank and other transactions far more efficiently and less costly than traditional methods.

Ethereum (ETH-USD) handles smart contracts and various applications.

Cosmos (ATOM-USD) specializes in connecting blockchains together.

Other functional coins we see substantial potential going forward include: Tron (TRX-USD), Tezos (XTZ-USD), Swipe (SXP-USD), EOS (EOS-USD), Cardano (ADA-USD), and several others.

How to get exposure without going through crypto exchanges

I understand that not everyone is comfortable with cryptocurrency exchanges, blockchain wallets, etc. Unfortunately, the market is rather thin on alternative options (although Bitcoin futures are available).

This Is Where the Grayscale Trust Comes In

For now, market participants can get exposure to several "coins" through the Grayscale Trust.

So what does the Grayscale Trust offer?

Well, market participants can get exposure to Bitcoin through Grayscale's OTC (GBTC) trading vehicle. Likewise Grayscale offers similar trading instruments for Ethereum (OTCQX:ETHE), Bitcoin Cash (OTCQX:BCHG), Ethereum Classic (OTCQX:ETCG), Litecoin (OTCPK:LTCN), and a diversified large cap-fund (OTCQX:GDLC). Other crypto trading instruments appear to be on their way as well from Grayscale.

Volatility in stocks appears to reflect poorly on Bitcoin and the digital asset market in general. As there is likely to be more volatility ahead in stocks as well as other key markets, Bitcoin/blockchain enterprises could decline in the short term. Nevertheless, intermediate and long term, we remain extremely bullish on this segment and see a lot of upside potential ahead in the next 1-5 years and beyond.

However, in this uncertain environment, our portfolio's 25% allocation in Bitcoin and other digital assets feels a bit heavy. Therefore, we began locking in profits in some blockchain enterprises after the $11,500 level was unable to hold up. Intuition tells me that $11,250 may fail in upcoming sessions as well, and a mini meltdown to around $10,500-$10,000 is plausible. Therefore, we are reducing our digital asset holdings to raise our cash position, but we will reenter the market once volatility calms down after the election and we have a clearer view on where markets are headed next.

Want the whole picture? If you would like full articles that include technical analysis, trade triggers, portfolio strategies, options insight, and much more, consider joining Albright Investment Group!

Disclosure: I am/we are long ASSETS MENTIONED. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: This article expresses solely my opinions, is produced for informational purposes only and is not a recommendation to buy or sell any securities. Please always conduct your own research before making any investment decisions.

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Bitcoin: Another Mini-Meltdown Appears Likely - Seeking Alpha

Department of the Treasurys Financial Crimes Enforcement Network (FinCEN) fined a Bath Township man it accused of violating anti-money-laundering laws and running a business affiliated with darknet sites.

Federal prosecutors said Larry Dean Harmon laundered more than $300 million worth of cryptocurrency often used for illegal transactions in underground marketplaces. He also exchanged bitcoins hundreds of times on behalf of customers, operated an unlicensed money transmitting business and transmitting money without a license, court records show. He was ordered to pay $60 million in fines for violating reporting and registration requirements under the Bank Secrecy Act

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This marks the second time FinCEN has taken action against a cryptocurrency business and comes seven years after it first issued guidance requiring those who buy and sell digital assets to register as money-services businesses.

FinCENs announcement refers back to its 2013 Guidance, in which it stated that this type of business is required to obtain regulatory licenses and establish an anti-money laundering compliance program.

FP Markets Expands Its CFD Trading Offering in Commodities, Metals & IndicesGo to article >>

Harmon has allegedly operated two bitcoin businesses, Helix from 2014 to 2017 and Coin Ninja from 2017 to 2020. These services allowed users to launder more than 350,000 bitcoins, the equivalent to about $400 million, and obscure its origin in a practice known as mixing or tumbling.

Prosecutors allege Harmon charged a 2.5% fee, which would be about 900 bitcoins worth close to $106 million at todays prices.

Mr. Harmon operated as an exchanger of convertible virtual currencies by accepting and transmitting bitcoin through a variety of means. From June 2014 through December 2017, Helix conducted over 1,225,000 transactions for its customers and was associated with virtual currency wallet addresses that sent or received over $311 million dollars. Mr. Harmon operated Helix as a bitcoin mixer, or tumbler, and advertised its services in the darkest spaces of the internet as a way for customers to anonymously pay for things like drugs, guns, and child pornography, the FinCEN explains.

Helix and Coin Ninja were advertised to customers as a way to conceal transactions from law enforcement and were used in connection with underground marketplaces Agora Market, Nucleus and Dream Market. His two operations were also accused of partnering with thethe dark web websiteAlphaBay in a scheme that lasted until federal authorities shut it down in 2017.

These darknet places allowed customers to buy drugs, fraudulent ID documents and other illegal items.

See more here:

FinCEN Hits Helix and Coin Ninja Operator with $60M Fine - Finance Magnates

Trading cryptocurrency simply involves changing one cryptocurrency to another cryptocurrency or changing crypto to local money or Fiat. On the other hand, cryptocurrency trading also covers the buying and selling of any crypto or coins and exchanging to the fiat of ones choice.

To trade crypto assets, the first thing you need to do is to ensure you have a wallet where you can keep any cryptocurrency youll be purchasing from any crypto exchange platform like Remitano, Coinbase, Binance, etc. The first stage of trading cryptocurrency is creating an account. The essence of creating an account is to show interest and also give you the platform to get your cryptocurrency wallet.

READ: Cryptoexchanges withmost valuable crypto-assets in the world

These are platforms that allow the buying and selling of cryptocurrencies. There are centralized and decentralized platforms, but the bests are always decentralized. The decentralized platforms are controlled by multiple systems (meaning there is no single computer controlling it). These platforms allow you to buy and sell cryptocurrency and as well as store them in your wallet.

Read this article about decentralized cryptocurrency exchanges (DEX) to gain more insight into decentralized exchanges.

Exchanges charge traders a fee for allowing you to trade cryptocurrencies. The average fee per trade is 0.1% of each trade executed on the platform. Billions of dollars worth of crypto assets are traded every day. Lucky traders and early adopters have made it big from trading cryptocurrencies, and it is now their full-time job.

From my experience, there are basically two types of cryptocurrency trading; short term trading and long term trading. Now lets look at these types of trading.

This refers to buying cryptocurrency at a low price only to hold for a short time before selling at a marginal profit. Trading time can be between minutes to months.

The idea is simple; you buy a coin because you think the price will increase in a short time and then sell it for a quick profit.

This guide on day trading will help you become an expert at short term trading.

Long term holding refers to the act of holding a particular crypto asset for a very long time, years to be precise. The word HODL which means Hold on For Dear Life originates from long term trading. The idea of long term trading is to hold crypto assets for a very long term regardless of the volatility with the hope that it will increase by a significant factor after years of holding.

Fluctuations are the most significant problem that cryptocurrency traders face. Trading cryptocurrencies have many benefits, but before you trade, you must be aware of the risks involved in trading. Below are some of the cryptocurrency-related risks.

Cryptocurrency fluctuates: There is no fixed price over a fixed period for cryptocurrency. This means the worth of a cryptocurrency today can change tomorrow. The change can be slow or rapid, but it is quite unusual for cryptocurrency value to drop heavily. Most times, whenever it drops, it is always little, and theres still a time when it will pump (cryptocurrency increases).

READ: Fate of $2.3 billion worth of Bitcoins in Limbo

Cryptocurrency is not regulated: The bank and government are not in control of these digital assets. However, people are paying more attention to it because of its usefulness and how it is becoming generally accepted across the globe.

Security risks: There can be cryptocurrency mistakes, and cryptocurrency can be hacked: Sometimes, avoiding obstacles as a result of technical failures might be difficult. Hackers can also hack into cryptocurrencies and toy with it.

The best way to avoid issues with cryptocurrency is to get as much information as possible before starting.

READ: How to buy and sell Bitcoins in Nigeria

There are quite a number of people that are concerned about the best trading platforms to use for their transactions. There is no need to worry about that.

This article will highlight some of the top and best cryptocurrency exchange platforms you can use for trading. There are a lot of other platforms out there, and finding the best should be the aim. Below is a streamlined list of five cryptocurrency trading platforms that are safe and trusted.

READ: Bitcoin could reach $225,000 by 2021

This is the most recommended trading platform for both beginners and experts. The platform is a P2P escrowed marketplace that makes buying and selling of cryptocurrency and trading to local currency easier and faster. You are connected with buyers or sellers (depending on what you want to do), and the transaction goes on safely.

Coinbase is one of the best platforms for trading. It is highly secured and easy to use for trading leading cryptocurrencies like Bitcoin, Ethereum, and others. Coinbase has APIs that allow developers to link with third-party apps and trading platforms. Coinbase is on this list because it is easy to use, highly secure, and fees are low.

Kraken is on the list because it is an old and consistent cryptocurrency platform that allows funding from diverse options. This platform is super cool for beginners because it makes the onboarding process easier.

BItfinex is a good platform for all trading necessities. If you are already learned and good with trading, you will find this cryptocurrency exchange valuable. Beginners might find the interface complicated, but it supports different cryptocurrencies.

CEX.IO

This is a reliable platform for multiple cryptocurrencies. You can also make deposits from your local bank (credit card or any other option that suits you). The multiple payment option and high security, state compliance with regulatory organizations are top reasons why you should consider the platform. You can also track your investments with their developed reports.

The primary reason why cryptocurrencies are ideal for trading is because of the fluctuations. There are cases where youll have more profits due to the price when you bought the cryptocurrency, and you experienced an increase in the long run (that means youre making a profit). Also, the opportunity to buy cryptocurrencies when theyre cheaper or at the prices that are convenient for you and sell off when you realized theyve increased in value makes cryptocurrency ideal for trading.

It is an undisputed fact that the income coming from crypto trading might not be as huge as you might have envisaged, however, the more the value of the cryptocurrency youre holding or trading, and the longer you hold your cryptocurrency, the more your chances of cashing out big.

The price is influenced by the economic factor of demand and supply. This is what the cryptocurrency traders use in balancing their portfolio. Cryptocurrency is just a different and unique investment form or opportunity.

Now that you understand everything about crypto trading, you can learn how to begin cryptocurrency trading in 2020.

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Everything you need to know about Crypto Trading - Nairametrics

Global Cryptocurrency Mining Market Research report 2020 provides a detailed analysis of industry status and outlook of major regions based on key players, countries, product types, and end industries. This research report offers the overall analysis of the segments such as market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions.

We have also focused on SWOT, PESTLE, BCG matrix, SCOT analysis, and Porters Five Forces analyses of the global Cryptocurrency Mining market. Leading players of the global Cryptocurrency Mining Market are analyzed taking into account their market share, recent developments, new product launches, partnerships, mergers or acquisitions, and markets served.

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The Major Players covered in this Cryptocurrency Mining Market reports are-AntPool, Ebot, BTC Top, Genesis Mining, BTC.com, F2Pool Hashing 24, ViaBTC, Bitmain Technologies Ltd., and Hashflare..

Industrial Impact of Covid-19 on Cryptocurrency Mining Industry:

The outbreak of the pandemicCOVID-19changed the market scenario on the global platform. Many of the regions are facing the biggest economic crisis owing to the lockdowns that were implemented due to the outspread of the coronavirus infection. As the only solution that has been found to contracting this disease is social distancing many countries have implemented strong regulations in regards to people gatherings. Owing to this many of the businesses are working with only 30% of its employees thus not able to bring the maximum production.

Thiscan affect the global economy in 3 main ways: by directly affecting production and demand, by creating supply chain and market disturbance, and by its financial impact on firms and financial markets.

Cryptocurrency Mining Market Report is Segmented as Following-

Market Attributes

Details

Market size value in 2020

USDXX Million

Revenue forecast in 2027

USDXX Million

Growth Rate

CAGR of XX % from 2020 to 2027

Report coverage

Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends

Country scope

U.S., Canada, Mexico, U.K., Germany, France, Italy, China, India, Japan, Brazil, Argentina, Saudi Arabia, South Africa

AntPool, Ebot, BTC Top, Genesis Mining, BTC.com, F2Pool Hashing 24, ViaBTC, Bitmain Technologies Ltd., and Hashflare.

In conclusion, the Cryptocurrency Mining Market report is your trusted source for accessing research data that is expected to exponentially accelerate your business. This report provides information such as economic scenarios, benefits, limitations, trends, market growth rates, and figures. The SWOT analysis is also incorporated into the report along with the guess attainability survey and venture revenue survey.

Do you have any Query or any customization with this report, please get in touch with our business experts at: https://www.stratagemmarketinsights.com/speakanalyst/12806

Contact Us:Mr. ShahStratagem Market InsightsTel: US +1 415 871 0703 / JAPAN +81-50-5539-1737Email:[emailprotected]

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Cryptocurrency Mining Market to Observe Strong Growth to Generate Massive Revenue in Coming Years 2020 to 2027 - The Think Curiouser

Coherent research output presented by expert research analysts and seasoned professionals have anticipated a substantially optimistic growth outlook for Cryptocurrency market at the backdrop of efficient business models and delivery systems which are likely to offset global pandemic crisis and its concomitant implications. As per recent predictions the overall CAGR percentage and overall growth is likely to align with the business objects and revenue generation models of some of the leading vendors in the Cryptocurrency market.

Download Sample PDF Brochure: @ https://www.adroitmarketresearch.com/contacts/request-sample/349?utm_source=bh

This report also examines the key market players identified by their market share and product offerings. In addition, Cryptocurrency Market Research provides strategic insights based on assessing recent events and analyzing players strategy. It also covers the driving forces, opportunities and challenges prevailing in the industry. The report covers segment analysis for a key region: North America, Europe, Asia Pacific, the Middle East, Africa and South America.

Essential Key Players involved in Global Cryptocurrency Market are:

BitFury Group Limited, Microsoft Corporation, Ripple Labs Inc., Intel Corporation, Advanced Micro Devices Inc., Coinbase Ltd., NVIDIA Corporation, AlphaPoint Corporation, BitGo, Xilinx Inc. and BTL Group Ltd. among others.

Browse the complete report Along with TOC @ https://www.adroitmarketresearch.com/industry-reports/cryptocurrency-market?utm_source=bh

This extensive research presentation is posed to serve as an authenticate knowledge hub for the diversified reader spectrum comprising investor enthusiasts as well as other key contributors and frontline players in global Cryptocurrency market.

The multi-timeline Cryptocurrency market analysis is in place to allow market players devise growth-oriented business strategies and tactical decisions, thus securing healthy growth trail and profit numbers in the foreseeable future.

This report is designed to serve as a ready-to-use guide for developing accurate pandemic management programs allowing market players to successfully emerge from the crisis and retrack voluminous gains and profits.

The report includes detailed market overview inclusive of details in the historical and current timelines. The report scouts for noteworthy trends and profit generation trends in the past decades, followed by current status.

Cryptocurrency Market Segmentation

Type Analysis of Cryptocurrency Market:

Component Segment

HardwareFPGAGPUASICWalletOthersSoftwareMining PlatformBlockchainCoin WalletExchangeType SegmentEthereumBitcoinLitecoinDashcoinRipple (XRP)OthersEnd-User Industry SegmentMedia & entertainmentRemittanceE-commerce & retailPeer-to-peer paymentOthers.

Vendor Profile: Global Cryptocurrency Market

The vendor landscape and competition analysis of the global Cryptocurrency market by reveals that the market is significantly disrupted by novel market vendors and manufacturers, as well as technological innovations and product expansion plans. Additional details on frontline players, as well as contributing members have been widely addressed in the report favoring logical business investments.

This specifically designed research report highlighting current and historical developments in global Cryptocurrency market is poised to catapult substantial disruption in the market ecosystem, underpinning fast track developments in M&A ventures, commercial collaborations besides also highlighting novel disruptions across product and service facets.

The report is also equipped with high end information compiled in a dedicated format to highlight some of the leading players in global Cryptocurrency market, besides also identifying significant contributors.

COVID-19 Analysis and Crisis Management: Global Cryptocurrency Market

Committed to offer real time data on ongoing market developments and trends, this detailed research report on global Cryptocurrency market presented also entails a clear and detailed overview of the Cryptocurrency market amidst the global pandemic and the various pandemic management operation designed and implemented by frontline and contributing players alike. The report particularly zooms in to find the prominent market alterations during the pandemic, affecting global Cryptocurrency market in a multi-dimensional scheme encompassing production and consumption patterns, CAGR percentage, pricing alteration, besides lending significant awareness upon evident challenges, threats, development cycles.

Report Highlights:

1. Detailed overview of Cryptocurrency market2. Changing market dynamics in the industry3. In-depth market segmentation4. Historical, current and projected market size in terms of volume and value5. Recent industry trends and developments6. Competitive landscape7. Strategies of key players and products offered8. Potential and niche segments, geographical regions exhibiting promising growth9. A neutral perspective on market performance10. Must-have information for market players to sustain and enhance their market footprint

Make an Enquiry About This Report @ https://www.adroitmarketresearch.com/contacts/enquiry-before-buying/349?utm_source=bh

About Us :

Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a markets size, key trends, participants and future outlook of an industry. We intend to become our clients knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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Ryan JohnsonAccount Manager Global3131 McKinney Ave Ste 600, Dallas,TX75204, U.S.A.Phone No.: USA: +1 972-362 -8199/ +91 9665341414

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Cryptocurrency Market 2020 Industry Size, Share, Regional Growth, Trends, Methods, Applications, Equipment vendors, Business Prospects and Forecast to...

LAS VEGAS, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (AABB), through its wholly owned subsidiary Asia Metals Inc., announced today that the Company is in the final stages of negotiating the terms of a development agreement with a digital assets and crypto wallet creator to produce a gold-backed cryptocurrency coin. AABB is in advanced discussions with the developer to plan the design, implementation and milestone events schedule for the gold-backed crypto coin prior to initiating the development process. Viewed as a revenue diversification project to create liquidity and monetize gold production, the Company is excited to release further details of the gold-backed crypto coin project in the coming weeks after the agreement is completed.

Asia Broadband Inc. (OTC : AABB), through its wholly owned subsidiary Asia Metals Inc., is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Guerrero, Mexico, to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.

Forward-Looking Statementsare contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.s (the Company) expected current beliefs about the Companys business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

See the article here:

AABB - Asia Metals Inc. Development Agreement for Gold-Backed CryptoCurrency Coin In Final Stages of Negotiations - GlobeNewswire

Are you investing in cryptocurrency? Its a decentralized form of digital money that has made quite a few people rich overnight. Thats also why its a perfect cover for cybercrime and online scams.

Fraud involving cryptocurrency is incredibly common. In fact, cryptocurrency scams were the reason that some of the most famous Twitter accounts in the world got hijacked. Tap or click here to see one of the biggest and strangest hacks in history.

And with cybercrime at an all-time high, crypto scams are also on the rise. Thats why the FBI is issuing an urgent warning to Americans about threats posed by crypto scammers during the COVID-19 pandemic. If you want to avoid getting fleeced, heres what you need to watch out for.

The FBI has issued a warning bulletin about several common cryptocurrency scams that have emerged during the COVID-19 pandemic. At a time when many people are already struggling financially, these scams have the potential to wreak havoc on unsuspecting bank accounts.

Based on the FBIs findings, there are four main types of crypto scams circulating. Heres how they work, and what you can expect to see and hear when you encounter the cybercriminals behind them:

Learn the tech tips and tricks only the pros know.

Blackmail scams: If youve ever received a sextortion email, you already know what this is like. Scammers are emailing victims with threats about access to personal information or dirty secrets. In exchange for keeping these secrets under wraps, the scammers demand a Bitcoin ransom. Some scammers even go as far as threatening you and your family with COVID-19 itself.

Tap or click here for an in-depth look at this crazy scam.

Work from home scams: Scammers will pose as employers looking to hire workers for financial activities. What theyre really doing, however, is using your bank account as a mule for stolen money. The scammer will ask you to accept a donation of funds as part of your job, and if you do, youre now a de facto accomplice in their crime.

Tap or click here to see how these work from home scams can land you in jail.

Fake COVID-19 treatment scams: Scammers are attracting online shoppers with enticing offers of products and equipment they claim can cure or prevent COVID-19. But theres a catch: You have to pay in cryptocurrency. If you make the payment, the products never arrive and your money is good as gone.

Tap or click here to see how to spot websites selling fake COVID-19 treatments.

Investment scams: Scammers are pitching fraudulent investments in unknown kinds of cryptocurrencies to trick victims into sending them money. Cryptocurrencies rise and fall in popularity, and jumping on to a new brand of crypto can potentially net you a good chunk of change if youre lucky. But the new crypto they promise is fake, and the scammers run off with your money.

There are plenty of real websites, investments and charities that do use cryptocurrency. But if any of them follow the formats mentioned above or pressure you into using crypto over regular money, consider it a major red flag.

The FBI suggests following these tips below to keep yourself safe from fraud:

If you get a threatening or suspicious email discussing cryptocurrency, delete it immediately. Do the same thing with suspicious text messages, and avoid picking up the phone for calls you dont recognize. Phone scams are another huge threat targeting Americans during the COVID-19 pandemic.Tap or click to see why its happening.

If youd like to report a suspected cryptocurrency crime, or if youve been victimized by fraud, the FBIs Criminal Investigative Division has an entire team dedicated to cryptocurrency money laundering and frauds. Contact your local FBI field officeor visit the FBIs Internet Crime Complaint Center atic3.gov.

X

Learn the tech tips and tricks only the pros know.

Scammers may switch up their tactics every so often, but theyre only effective if theyre able to trick you. If you ignore and report them, they wont be a problem at all.

Continue reading here:

4 dangerous cryptocurrency scams the FBI wants you to watch out for - Komando

On October 8, 2020, the US Department of Justices (DOJ) Cyber-Digital Task Force issued its first crypto-related guidance, Cryptocurrency: An Enforcement Framework, an 83-page report intended to help the industry comply with US legal obligations. While the DOJs report praises blockchain and digital ledger technology for their breathtaking possibilities, it also issues a stark warning: cryptocurrency technology plays a role in many of the most significant criminal and national security threats that the United States faces. After providing a helpful overview of cryptocurrency for lay readers, the report examines the role of the DOJ in prosecuting crypto-related misconduct, including applicable federal statutes, key partnerships and enforcement challenges.

The report was issued mere days after the DOJ announced one of its most significant crypto-related prosecutions of 2020: the criminal indictment of the founders and senior executives of one of the worlds biggest cryptocurrency exchanges the Bitcoin Mercantile Exchange (BitMEX). On October 1, 2020, the SDNY announced money laundering charges against four BitMEX executives, accusing the group of Bank Secrecy Act violations. On the same day as the DOJ indictment, the Commodity Futures Trading Commission (CFTC) brought a civil enforcement action against BitMEX executives as well as five entities that own and operate BitMEX, claiming that they are operating an unregistered trading platform and violating anti-money laundering (AML) and other CFTC regulations. Three of the four individual defendants remain at large; the fourth defendant was released on $5 million bail last week.[1] As of the date of this article, all of the individual defendants have stepped down from their executive positions at BitMEX, including the former CEO and former CTO.[2]

Read together, the report and unsealed BitMEX indictment serve notice on offshore cryptocurrency exchanges and other money services businesses (MSBs) thought to be operating outside of the reach of US authorities US law enforcement agencies have a long reach and will not hesitate to act. In this alert, we offer three key takeaways for crypto exchanges, issuers and other industry participants, as well as thoughts on what to expect going forward.

A. Many weapons in the prosecutorial arsenal including statutes that can ensnare foreign actors

Federal prosecutors have relied on and will continue to rely on a number of statutes prosecuting crypto-related crimes, including charges for wire/mail fraud (18 U.S.C. 1343, 1341), securities fraud (15 U.S.C. 78j and 78ff), access device fraud (18 U.S.C. 1029), identity theft/fraud (18 U.S.C. 1028), fraud/intrusion in connection with computers (18 U.S.C. 1030), money laundering (18 U.S.C. 1956 et seq.), tax evasion (26 U.S. Code 7201), failure to comply with Bank Secrecy Act requirements (31 U.S.C. 5331 et seq.), and the operation of an unlicensed money transmitting business (18 U.S.C. 1960). Other relevant federal laws include those criminalizing drug trafficking (21 U.S.C. 841 et seq.), sale/possession of counterfeit items (18 U.S.C. 2320), illegal sale/possession of firearms (18 U.S.C. 921 et seq.), child exploitation (18 U.S.C. 2251 et seq.), and transactions involving proceeds of illegal activity (18 U.S.C. 1957). The government can also seek criminal and civil forfeiture of cryptocurrency and other assets, as it has in cases involving state actors and terrorist organizations. Under civil forfeiture laws, US authorities can seize assets even where there are no criminal charges or where a defendant may not be prosecutable.

The report emphasizes the use of money laundering statutes to address cryptocurrency crimes, explaining that the DOJ can bring to bear a wide variety of money laundering charges in cases involving misuse of cryptocurrency. Money laundering is identified as one of the most significant risks for cryptocurrency due to the the explosion of online marketplaces and exchanges that use cryptocurrency, which provide criminals with the ability to move vast sums of money efficiently across borders while cover[ing] their financial footprints and to enjoy the benefits of their illegitimate earnings.

The report also warns that issuers, exchangers and brokers of digital assets are considered to be MSBs subject to anti-money laundering and know your customer (KYC) requirements, and that such companies/individuals are subject to oversight by the Department of the Treasurys Financial Crimes Enforcement Network (FinCEN). Notably, FinCENs requirements apply with equal force to both domestic- and foreign-located MSBs, even if the foreign-located MSB does not have a physical presence in the United States, if the MSB conducts business in whole or substantial part in the United States.

While the DOJ observes that some of the largest cryptoasset exchanges operate outside of the United States (see our note on jurisdictional arbitrage below), it also warns exchanges to take seriously their legal and regulatory obligations . . . to protect users and to safeguard potential evidence in criminal or national security investigations. The DOJ states that it will take appropriate action if crypto exchanges breach these obligations, and the BitMEX prosecutions will serve as an important test case. The indictment accuses the BitMEX defendants three out of four of whom are outside the US of Bank Secrecy Act violations for willfully failing to establish, implement and maintain AML and KYC controls.

B. Strategic partnerships with other regulators

The DOJ works with multiple federal regulators and enforcement agencies, including the US Securities and Exchange Commission (SEC), the CFTC, the Internal Revenue Service, FinCEN, and the Office of Foreign Assets Control, among others. For instance, the DOJ and SEC have coordinated in recent years on numerous matters involving allegedly fraudulent initial coin offerings (ICOs). In January 2018, the SEC filed a civil complaint in federal court in Texas seeking to halt an allegedly fraudulent ICO involving a crypto startup called AriseBank. The DOJ brought criminal charges against AriseBanks CEO later that year, claiming that he defrauded investors out of millions of cryptocurrency assets. The CEO ultimately pled guilty in the criminal case to one count of securities fraud; in the civil action, the CEO and the COO agreed to pay nearly $2.7 million in disgorgements, interest and penalties.

In 2017, the DOJ and the SEC similarly brought parallel enforcement proceedings against Brooklyn businessman Maksim Zaslavskiy for securities fraud in connection with two ICOs. In its September 2017 complaint, the SEC alleged that Zaslavskiys companies, RECoin Group Foundation LLC and DRC World Inc., sold digital tokens in a pair of ICOs that qualified as unregistered offerings of securities, and that Zaslavskiy made false or misleading representations and omissions in connection with both token sales. In October 2017, the DOJ filed a criminal complaint charging Zaslavskiy with securities fraud conspiracy for similar misconduct engaging in illegal, unregistered securities offerings and making material misstatements to deceive investors in connection with the ICOs. Zaslavskiy pled guilty to conspiring to commit securities fraud in November 2018 and, a year later, was sentenced to 18 months imprisonment for the crime.

The BitMEX prosecutions are the most recent example of the DOJs cross-agency collaborations. While neither the DOJ/CFTC have offered any detailed comments on their collaboration, both actions were announced on the same day, and the SDNY thanked the attorneys and investigators at the CFTC for offering their expertise in the development of this investigation in its press release.

Separately, the DOJ is also coordinating with foreign regulators, including through the Financial Action Task Force (FATF), an intergovernmental organization founded to promote effective implementation of legal, regulatory, and operational measures for combating money laundering and other threats to the international financial system. The US is a founding member of the FATF and, while holding the FATF presidency from July 2018 through June 2019, made it a priority to regulate [virtual asset service providers] for AML and combatting the financing of terrorism. The report also highlights several internationally coordinated enforcement actions targeting the use of digital assets in a wide range of criminal activity ranging from drug trafficking to child sexual exploitation.

C. Challenges to enforcement

Despite its successes, the DOJ acknowledges several significant crypto-related enforcement challenges, including:

Geography: The report claims that industry participants are engaging in jurisdictional arbitrage and deliberately operating from more lax jurisdictions. The DOJ describes the inconsistency in regulations as detrimental to the safety and stability of the international financial system and claims it has imped[ed] law enforcements ability to investigate, prosecute, and prevent criminal activity involving or facilitated by virtual assets. The BitMEX indictments address this point, accusing the defendants of taking affirmative steps purportedly designed to exempt BitMEX from application of US laws like AML and KYC requirements, noting that the company incorporate[d] in the Seychelles, a jurisdiction they believe had less stringent regulation.[3]

Anonymity: In addition to geographic hurdles, the DOJ must overcome the challenges posed by anonymity mechanisms baked into the technology. While some cryptocurrencies like Bitcoin have public blockchains and thus offer some level of transaction transparency, others operate on non-public or private blockchains, and their transactions are more opaque. Consider Monero, Zcash, and Dash cryptocurrencies described in the report as private coins or anonymity enhanced cryptocurrencies.

Obfuscation: There are a number of mechanisms for helping disguise and conceal cryptocurrency transactions, including mixing, tumbling, and chain hopping all of which make it more difficult to track and trace assets. Mixers and tumblers are entities intended to obfuscate the source or owner of particular units of cryptocurrency by commingling the cryptocurrency of several users prior to delivery of the units to their ultimate destination. The DOJ warns that companies offering mixing or tumbling services are engaged in money transmission, and therefore are MSBs subject to AML and similar requirements. As explained in the report: operators of these services can be criminally liable for money laundering because these mixers conceal or disguise the nature, the location, the source, the ownership, or the control of a financial transaction. Chain hopping is the practice of moving from one cryptocurrency to another, often in rapid succession, and is criticized by the DOJ as a potential way to obfuscate the trail of virtual currency by shifting the trail of transactions.

D. What comes next

The reports detailed presentation of laws and regulations applicable to digital assets, US government agencies with relevant enforcement capabilities, and representative cases initiated to date sends a strong message that the DOJ and its sister agencies remain very focused on preventing the use of digital assets and blockchain technology for criminal purposes. That focus and creativity of US law enforcement in pursing these cases will likely increase as cryptocurrency adaptation increases. In the meantime, it would be prudent to expect that the DOJ and other US regulators will continue to expand their efforts to combat crimes in this area, using the full array of available statutes, and will not shy away from hard and challenging matters, with the BitMEX prosecutions serving as important test cases.

An earlier version of this article appeared on Law360 on October 14, 2020.

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Unpacking the DOJ's cryptocurrency guidance: Enforcement priorities and industry implications - Lexology

This versatile composition of research derivatives pertaining to diverse concurrent developments in the global Cryptocurrency Exchanges market is poised to induce forward-looking perspectives favoring unfaltering growth stance.

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Global Cryptocurrency Exchanges Market Expected To Reach xx.xx Mn By 2026: Binance, Coinbase, Poloniex, LocalBitcoins, BTCC etc. - Eurowire

US Paper Currency, Stock Market and Exchange, Currency, Finance, Graph

From about 18 to about 30 in just 6 weeks time, thats not bad.

Thats in cents not dollars, though, giving the cryptocurrency that goes by the name of XRP the dramatic price action feel (somewhat) of those infamous penny stocks from Blinder Robinson that traded crazily in the 80s.

The cryptos in general have had a good summer of price action, some in dollars and some in pennies but its XRP thats of interest since my card counting friend in Las Vegas had mentioned it and I wrote about it here in XRP Is The Crypto To Watch, Says Vegas Blackjack Pro.

That posted on July 16th and it was just a few days later that the thing broke above previous resistance at 21 and took off for the much higher price level. At the time I took a bit of heat from experts on Twitter for suggesting that a pro at the 21 tables might have advice about anything crypto. Now it looks like my friend was right.

Maybe he just got lucky, who knows?

Anyway, just for the record, XRP looks like this now on the daily price chart:

XRP daily price chart, 8 23 20.

After tracking mostly sideways to slightly down in price from May to July, you can see the late July breakout. XRP had been unable to rise above the Ichimoku cloud for weeks but then got there easily on some volume. It looks like the selling that comes in at above 31 is likely to be significant enough to prevent further upside, at least for now.

The XRP weekly price chart looks like this:

XRP weekly price chart, 8 23 20.

Like the other cryptocurrencies, XRP has a long way to go to make it back up to the early 2018 highs. Clearly. Whats interesting here is the increase in buying volume that is shown for this summer. The other thing is that price may be about to break above the weekly Ichimoku cloud for the first time in a couple of years. Its almost there.

The XRP monthly price chart looks like this:

XRP monthly price chart, 8 23 20.

The dramatic drop in price is clearly evident on the monthly time frame from the January, 2018 peak until the much lower present. Take a look at the moving average convergence/divergence (MACD) indicator below the price chart: the shorter-term time line is just now crossing above the longer, a positive sign on that measure. Whether it turns out to be an actual buy signal remains to be seen.

This is just a form of price chart analysis where trend is identified and the potential support and resistance levels are suggested a serious investor or trader would want to research the fundamentals and formation of a cryptocurrency like XRP or any of the cryptos before taking any action. Past performance is no guarantee of future results.

I do not hold positions in these investments.No recommendations are made one way or the other.If you're an investor, you'd want to look much deeper into each of these situations. You can lose money trading or investing in stocks and other instruments. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor.

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The Cryptocurrency XRP Is Having A Good 6 Weeks - Forbes

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This could be the year investors in blockchain technology have beenwaiting for. It remains to be seen whether the hype over this new storage and security medium has died away enough that people can finally see it as more than just a delivery system for cryptocurrency.

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Whether you just want a working knowledge of this exciting new way of storing information or are determined to jump ahead of the trends, this is a great resource. PCMag readers can get lifetime access to The Mega Blockchain Mastery Bundle for $39 (97 percent off the MSRP), including updates to keep you abreast of changes in the technology.

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Want to Invest in Bitcoin? Learn the Basics of Cryptocurrency, Blockchain on the Cheap - PCMag.com

LOS ANGELES, Aug. 26, 2020 /PRNewswire/ --PLS&TY becomes a front-runner in the connection between music and technology by partnering with Ethereum blockchain platform,Foundationto sell a limited quantity of his "Very Special" EP on vinyl. The EP was released digitally in Apriland features four tracks, includingcollaborations from Sean Kingston, Alex Aiono, Wifisfuneral, to name a few.

Foundation's mission is to serve as a stock exchange for art and culture, which allows the market's natural supply and demand to dictate the price of the goods sold on the platform; this dynamic pricing model lets artists benefit directly from the hype that surrounds their work. If you're already anxious for a copy of "Very Special" on vinyl, you'll need to get your hands on a $PECIAL digital token. Early buyers will secure a better price. When the vinyl is ready to ship, the tokens will be redeemable to receive the physical vinyl anywhere in the world; alternatively, token holders can continue to keep the digital value of the token or trade it in the Foundation market. The intersection of music with blockchain is an exciting glimpse into the future of the industry, and PLS&TY is the first musician to dive right in.

Foundation is an exciting new platform for creators to realize the true value of our work and benefit directly from the hype surrounding it. For a lot of people, cryptocurrency might feel inaccessible or complicated, but Foundation has built a streamlined process of buying and selling tokenized goods that puts the power in the hands of artists and our communities. Get in now, be a part of something transformative. You'll thank me later. -PLS&TY

Tommy Leas, a Florida native - better known as PLS&TY - is burgeoning into the electronic dance music scene with his unique sound: languid bass, captivating vocals, and enough upbeat melodies to make anybody feel good. After a collection of chart-topping singles including "Good Vibes" (#1 on iTunes US Electronic Charts), "Down For Me", "Rebel Love (#1 on iTunes US Electronic Charts), and "Motives" (#1 on iTunes US Electronic Charts / Top 25 Billboard Electronic Charts), PLS&TY would see his productions remixed by Grammy-nominated Morgan Page, Rusko, Cazzette, and more. His own remix of Genevieve's "Colors" was featured in a Hershey's chocolate television commercial that has amassed over 1 billion views. With his brand new "Very Special" EP, PLS&TY is showing no signs of slowing down, even after a busy 2019 touring season which included A-List festivals Shaky Beats, Breakaway, Electric Forest, EDC Vegas, & more.

Foundation is a new medium for buying, selling, and trading limited-edition goods and art. Built on the Ethereum blockchain, Foundation claims the power of the stock market and reinvents it forartists, designers, and brands across the music, fashion, fine art, and emerging media.

For press inquiries, please contact:

Unfolded PR[emailprotected]

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Visionary DJ PLS&TY Explores Cryptocurrency in Limited Vinyl Partnership With Foundation - PRNewswire

The United States government is trying to seize 280 cryptocurrency accounts related to theft cases involving hackers linked to North Korea, according to a U.S. Department of Justice release published on Aug. 27.

The Justice Department alleges that North Korean hackers stole cryptocurrencies worth at least $298.5 million from South Korean cryptocurrency exchanges in 2018 and 2019, as well as an exchange focused on the Algorand blockchain based in the United States.

The Wall Street Journal reported that this is the first time a U.S.-based exchange is known to be hacked by North Korea. And though cryptocurrencies in theory are not supposed to be under government control, its unclear to many whether or not the U.S. really has the legal standing to seize these accounts.

Investigators from the FBI, the IRS and the U.S. Department of Homeland Security were able to track the stolen funds through unique qualities of the blockchain system. All transactions for each specific cryptocurrency are logged on a public ledger, although the identities behind the transactions are unique pseudonyms composed of letters and numbers.

Often, an individual controls many unique identities to the point where an individual could theoretically use a unique address for every transaction in which they engage.

According to the U.S. Justice Department, North Korean hackers leveraged these unique identities, as well as explicit attempts to pass themselves off as Russian and Canadian nationals when making cryptocurrency exchange accounts.

The U.S. blamed lax oversight and insufficient Know Your Customer protocols at various virtual currency exchanges, which among other services can turn alternative coins like the stolen South Korean Proton Tokens into more mainstream currencies like Bitcoin. Mainstream currencies can then be converted into real-world cash.

At first, the hackers tried to launder their stolen funds further by exchanging them for other cryptocurrencies a tactic known as chain hopping, according to the justice department filing.

Chain hopping is a tactic frequently used by individuals who are laundering the proceeds of virtual currency thefts, as the practice moves transactions from one currencys public ledger to another, obscuring the transaction trail.

Kim Grauer, head of research at a blockchain analysis company called Chainalysis, said that she has seen these tactics before.

Our research shows that, in the past, the DPRK-linked Lazarus hacking group moved most of their stolen funds to exchanges with low Know Your Customer (KYC) requirements, she said. However, more recently in 2019, they began using mixers in an attempt to obfuscate the flow of funds on the blockchain.

But the hackers primary goal was eventually transforming their stolen funds into bitcoins, according to a flowchart in the justice department filing. That way, hackers could use Over The Counter (OTC) traders who have less strict oversight compared to more automated exchanges to turn the bitcoins into U.S. dollars.

Three Chinese OTC accounts received the stolen funds, the filing stated. In March, the U.S. placed criminal charges on two Chinese nationals, Tian Yinyin and Li Jiadong also known as snowsjohn and khaleesi and sanctioned them. The two allegedly laundered $100 million worth of cryptocurrency for North Korea, turning it into real-world cash value items like gift cards and actual U.S. dollars.

In spite of the actors use of VPN services to mask their location during this theft, law enforcement was able to trace logins to an IP address within North Korea, the filing stated. It is rare for this kind of activity to be traced back to DPRK territory itself, partially because North Korea has thousands of hackers deployed abroad to avoid being identified or blamed.

As part of our commitment to safeguarding national security, this office has been at the forefront of targeting North Koreas criminal attacks on the financial system, acting U.S. attorney Michael R. Sherwin said in a Justice Department press release issued alongside the filing.

This complaint reveals the incredible skill of our Cryptocurrency Strike Force in tracing and seizing virtual currency, which criminals previously thought to be impossible, Sherwin said.

Edited by Kelly Kasulis

The United States government is trying to seize 280 cryptocurrency accounts related to theft cases involving hackers linked to North Korea, according to a U.S. Department of Justice release published on Aug. 27.

The Justice Department alleges that North Korean hackers stole cryptocurrencies worth at least $298.5 million from South Korean cryptocurrency exchanges in 2018 and 2019, as well as an exchange focused on the Algorand blockchain based in the United States.

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US tries to seize 280 cryptocurrency accounts linked to North Korean hacks - NK News

Cybersecurity firm F-Secure has published new research suggesting that the advanced persistent threat (APT) group Lazarus Group, also known as APT38, is behind a recent attack against a company working in the cryptocurrency space.

The attack was part of a wider campaign that targeted cryptocurrency businesses in countries including Japan, Singapore, China, South Korea, Hong Kong, the Philippines, the United States, Canada, Argentina, the United Kingdom, the Netherlands, Estonia, and Germany. The wider campaign involved phishing campaigns that have been ongoing since January 2018, if not earlier.

In this case, the attacks were launched through a phishing document sent via LinkedIn to employees at the targeted organisation. This phishing document was styled to look like a job advertisement for a role in a blockchain company.

F-Secure director of detection and response, Matt Lawrence, says the research is based on insights from the companys incident response, tactical defence, and managed detection and response.

This attack bears a number of similarities with known Lazarus Group activity, so were confident they were behind the incident. The evidence also suggests this is part of an ongoing campaign targeting organisations in over a dozen countries, which makes the attribution important, he notes.

The research points out the malicious implants used in the attack were almost identical to tools previously used by Lazarus Group in the past. While the group is evolving its toolset over time, there are opportunities for organisations to create defences and protect themselves against further attacks.

F-Secure also says that Lazarus Group invests significant effort in evading an organisations defences. It does this by disabling antivirus software on host devices and removing all traces of evidence of its malware.

The target in this investigation had a leading EDR and network security tool installed that captured telemetry of Lazarus Groups actions, but this did not result in a positive detection that was actioned. It is F-Secures view that people play an important role in building effective detection capability, and this incident serves as an example of the need to invest in people as well as technology.

According to F-Secure, Lazarus Groups interests reportedly align with the Democratic Peoples Republic of Korea (DPRK). This claim is backed up by numerous government bodies, including those belonging to the United Kingdom and the United States.

The United States Department of Treasury states, Created by the North Korean Government as early as 2007, this malicious cyber group is subordinate to the 110th Research Center, 3rd Bureau of the RGB. The 3rd Bureau is also known as the 3rd Technical Surveillance Bureau and is responsible for North Koreas cyber operations.

In addition to the RGBs role as the main entity responsible for North Koreas malicious cyber activities, the RGB is also the principal North Korean intelligence agency and is involved in the trade of North Korean arms.

The Lazarus Group has also been named as the APT behind the 2017 WannaCry ransomware attacks.

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Lazarus Group linked to phishing attacks on cryptocurrency sector - SecurityBrief Asia

More than $50 billion worth of cryptocurrency fled China-based wallets in the past 12 months, according to the blockchain analytics firm Chainalysis.

The Chinese government only allows its citizens to move $50,000 USD or less out of the country each year. Wealthy Chinese citizens have traditionally skirted that regulation by sinking money into real estate abroad or by funneling investments through shell companies, though the government has reportedly worked to stop this from happening.

Now, some of those same citizens appear to be turning to crypto, according to areport from Chainalysis.

Over the last twelve months, with Chinas economy suffering due to trade wars and devaluation of the yuan at different points, weve seen over $50 billion worth of cryptocurrency move from China-based addresses to overseas addresses. Obviously, not all of this is capital flight, but we can think of $50 billion as the absolute ceiling for capital flight via cryptocurrency from East Asia to other regions.

Chinese citizens have specifically utilized the US dollar-pegged Tether (USDT) for capital flight, as well as other purposes. USDT represents 93% of all stablecoin value moved by addresses from East Asia.

Overall, stablecoin usage dominates the East Asia region, representing 33% of on-chain transaction value, compared to 21% in Western Europe and 17% in North America. This is partly due to the Chinese governments decision in 2017 to ban direct exchanges of yuan for cryptocurrency.

As a region, East Asia is the worlds largest cryptocurrency market, responsible for 31% of all cryptocurrency transacted in the past 12 months.

Featured Image: Shutterstock/ssguy

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$50,000,000,000 in Bitcoin and Cryptocurrency Flowing Out of China: Report - The Daily Hodl

Web browser Brave is expanding its cryptocurrency features with an integration with cryptocurrency exchange Gemini. Brave users will be able to buy, trade and receive crypto assets directly through Gemini Trading Widget.

The company behind the privacy-oriented browser said users can access the Gemini card directly on the new tab page to trade any crypto asset listed on the Gemini exchange. Within its attention-based rewards ecosystem, users are also provided with an option to view their balances, and obtain deposit addresses without leaving the browser.

The Most Diverse Audience to Date at FMLS 2020 Where Finance Meets Innovation

Users can turn it off and hide the widget directlyfrom the browser tabsor by managing their settings.

Both companies didnt reveal the business aspects of the partnership. But browsers like Brave typically generate revenue based on how much traffic they send to search engines or other sites. It also pays users in its own cryptocurrency, the Basic Attention Token (BAT), to view ads without accessing users personal data.

In addition, all Brave-verified content creators can custody their digital assets in a Gemini Creator Wallet. That means Brave creators can receive their BAT payments into their Gemini Creator Wallet, or in any other fiat or crypto asset supported on Geminis Exchange, Gemini further states.

Cypherium Listed as Preferred Startup by French Investment BankGo to article >>

According to the announcement, the cooperation is an important step in Braves strategy to boost the adoption of cryptocurrencies and facilitate their access for its users.

In addition to a particular focus on privacy, Brave has been developing an in-browser crypto trading tool for a while. The addition of more options puts the open-source browser more squarely in the race with other crypto-focused browsers, like Opera.

Brave usersare already able to freely exchange Bitcoin, Ethereum, Ripple, Litecoin, and other cryptocurrencies supported by Binance within the comfort of their browser.

On top of that, they are also be able to explore a plethora of relevant functions, including buying, depositing, trading, and viewing summaries, thus eliminating the need for other applications.

Within its attention-based rewards ecosystem, users are provided with an option to trade on both the Binance.com andBinance.USplatforms.

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Brave Browser Delves Further into Crypto with Gemini Integration - Finance Magnates

Although were well into the digital era, technology continues to surprise us. The iGaming sector has grown into the multi-billion-dollar industry, with millions of casino aficionados playing online casino games all over the world.

The newest trend that caught our attention was definitely the entrance of cryptocurrency casinos into the market. Based on the performance of cryptocurrencies so far in 2020, we wanted to dive into further detail, and see how this impacts online casinos.

But what are the cryptocurrency casinos? How do they work, and what are their advantages?

Essentially, cryptocurrency casinos are online casinos that accept payments via diverse cryptocurrencies Bitcoin, Litecoin, Ripple, Ethereum, and more. They dont look any different from other online casino platforms in terms of game selection and other features. The main difference is in the payment methods they accept.

Now, you can come across some online casinos that accept payments made in cryptocurrencies along with other regular banking options credit and debit cards, e-wallets, and similar. Additionally, there are others that only allow payments made in cryptocurrency. The latter ones are still outnumbered, but we cant deny the fact that more people are starting to use cryptocurrency as their primary payment option.

So, lets see what the advantages of using cryptocurrency as your primary payment option while playing in online casinos are. The first one is that the transactions are instant and hassle-free. Unlike other more traditional banking options that can take up to a couple of days to process a payment, cryptocurrency will be transferred without any delay.

Another advantage thats crucial is that you can make all your payments anonymously. For example, when you want to take a loan from a bank, they will check your previous transactions. In case they see numerous payments made to online gambling sites, its highly unlikely they will grant your request.

On the other hand, when you make transactions via blockchain technology (the tech behind cryptocurrencies), there are no third-party organizations involved its done anonymously. Naturally, there are some cryptocurrencies that are more private than others, so you should do some research before you choose the one youll use for gaming purposes.

Furthermore, there are no additional fees when paying via cryptocurrencies. As youve probably noticed, some banking options include fees for transactions to and from your gaming account.

Another reason people prefer to use blockchain technology and cryptocurrencies is the fact that they are a globally accepted payment method. This means that there is no need to convert currencies with digital money. We consider this a major advantage simply because you wont be exposed to various fees that occur during these conversions.

As you can see, there are numerous reasons you should opt for cryptocurrency casinos. However, their development is still in the early stages, and we have yet to see how the rest of the world will react to these types of casinos will they be skeptical, or accept them with arms wide open? Only time will tell.

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Will Cryptocurrency Casinos Completely Take Over the iGaming Industry? - Artvoice

New Jersey, United States,- A recent report on Cryptocurrency Mining Hardware Market added by Verified Market Research provides a detailed analysis of the industry size, sales forecast, and geographic landscape related to this business line. Further, the report highlights key hurdles and latest growth trends which are accepted by leading players and are part of the competitive spectrum of this business.

The Cryptocurrency Mining Hardware market research report provides a comprehensive analysis of this business segment and provides essential insight into the factors influencing revenue generation as well as industry growth. Apart from the regulatory outlook, the document also includes a detailed assessment of the regional scope of the market. Further, the report includes detailed SWOT analysis and explains the driving factors of the market.

Global Cryptocurrency Mining Hardware Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2019 to 2026.

Additional information including limitations & challenges faced by new entrants and market players in tandem with their respective impact on the revenue generation of the companies is enumerated. The document scrutinizes the impact of COVID-19 pandemic on growth as well as future remuneration of the market.

The report covers extensive analysis of the key market players in the market, along with their business overview, expansion plans, and strategies. The key players studied in the report include:

The report provides valuable insights about the advancements of the Cryptocurrency Mining Hardware market and the approaches regarding the Cryptocurrency Mining Hardware market with analysis of each region. The report further talks about the dominant aspects of the market and explores each segment.

Other details specified in the Cryptocurrency Mining Hardware market report:

Cryptocurrency Mining Hardware Market, By Type

Central Processing Unit Graphics Processing Unit Field Programmable Gate Array Application-Specific Integrated circuit

Cryptocurrency Mining Hardware Market, By Application

Enterprise Personal

Cryptocurrency Mining Hardware Market, By Coin

Bitcoin Ripple Ethereum Others

To understand the Cryptocurrency Mining Hardware market dynamics, the market is analyzed across major global regions and countries. Verified Market Research provides customized specific regional and country-wise analysis of the key geographical regions as follows:

North America:USA, Canada, Mexico

Latin America:Argentina, Chile, Brazil, Peru, and Rest of Latin America

Europe:UK, Germany, Spain, Italy, and Rest of EU

Asia-Pacific:India, China, Japan, South Korea, Australia, and Rest of APAC

Middle East & Africa:Saudi Arabia, South Africa, U.A.E., and Rest of MEA

Comprehensive assessment of all opportunities and risks in the Cryptocurrency Mining Hardware market.

This exclusive study addresses key questions for stakeholders in the Cryptocurrency Mining Hardware Market:

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Cryptocurrency Mining Hardware Market to Witness Huge Growth By 2027 | Top Manufacturers Bitfury Group, Canaan Creative, Canaan Creative, BitMain...

Venezuela is experiencing one of the worst economic crises in history. The South American countrys national currency, the Bolivar, has become practically worthless due to extremely high levels of hyperinflation (about 10,000,000% during 2019).

Venezuelas residents are also suffering due to serious socioeconomic challenges, as the country has gone from being one of the wealthiest in the Latin American (LatAm) region to one of the poorest.

According to Chainalysis, cryptocurrency has taken on a key in the nations struggling economy. Venezuelas digital currency market represents a confluence of several topics at the core of cryptocurrencys key value propositions and risk factors.

Chainalysis further claims that the country has reached one of the highest rates of cryptocurrency usage in the world. Venezuela notably placed third on the blockchain security firms Global Crypto Adoption Index, as many of the nations residents now depend on cryptocurrency to receive remittance payments from individuals or businesses abroad. Venezuelans have also been using virtual assets to maintain their savings against record levels of hyperinflation.

The countrys contested government, which is led by Office of Foreign Assets Control (OFAC)-sanctioned Nicolas Maduro and well-known internationally for its corruption, has introduced its own so-called cryptocurrency initiatives. Maduros administration claims that the new digital currency will help the nations economy and its citizens.

Chainalysis confirms that Venezuelan officials have said that bypassing sanctions is one of the main goals of these crypto-related initiatives.

Chainalysis notes in its report:

Aside from the concerns around sanctions violations, the Maduro regimes cryptocurrency projects raise questions of whether people would embrace government-led efforts to utilize a tool initially designed to immunize currency from government financial policy especially when that government has so squandered its peoples trust as Venezuelas has.

An extensive four-month investigation by Reuters in 2018 revealed that there was no evidence of the controversial, government-backed Petro cryptocurrency being used in Venezuela. There are several legitimate digital asset exchanges operating in the country, including LocalBitcoins. According to several reports, Venezuelans do use Bitcoin (BTC) and other virtual currencies like Dash. However, many of them have said they dont trust the Petro and do not think its a legitimate store of value or medium of exchange.

Chainalysis notes:

We have a lot of anecdotal evidence that people in Venezuela have become increasingly interested in cryptocurrency. That fits with our interviews of cryptocurrency experts on the ground in Latin America users not just in Venezuela, but in other countries facing harsh economic conditions, turn to cryptocurrency to preserve their savings in the face of monetary devaluation.

They added:

Cryptocurrency is also important for remittances. Roughly 5 million Venezuelans have left the country to seek opportunity elsewhere during this economic crisis, and many of their friends and family back home rely on them to send money from abroad. Cryptocurrency is hugely helpful here, as users can use it to send funds overseas faster and with lower fees than they can with fiat. Cryptocurrency also enables them to do this without a bank account, which is difficult to obtain for many Venezuelans.

Continue reading here:

Chainalysis Confirms Venezuelans are Increasingly Using Bitcoin and other Cryptos for Remittance Payments, as Bolivar is Useless - Crowdfund Insider

Most people use either an app, an online platform, or a small hardware device as a wallet to store their cryptocurrency safely. The exchanges through which cryptocurrency changes hands, though, and other high stakes operations need something more like a massive digital bank vault. At the Black Hat security conference on Thursday, researchers detailed potential weaknesses in these specially secured wallet schemes, including some that affected real exchanges that have now been fixed.

The attacks aren't the digital equivalent of jackhammering a weak point on a safe or blowing up a lock. They're more like opening an old-timey bank vault with six keys that all have to turn at the same time. Breaking cryptocurrency private keys into smaller chunks similarly means an attacker has to cobble them together first to steal funds. But unlike distributing physical keys, the cryptographic mechanisms that underly multiparty key management are complex and difficult to implement correctly. Mistakes could be costly.

"These organizations are managing a lot of money, so they have quite high privacy and security requirements," says Jean-Philippe Aumasson, cofounder of the cryptocurrency exchange technology firm Taurus Group and vice president at Kudelski Security. "They need a way to split the cryptocurrency private keys into different components, different shares, so no party ever knows the full key and there isn't a single point of failure. But we found some flaws in how these schemes are set up that are not just theoretical. They could really have been carried out by a malicious party."

For the work, Aumasson, a cryptographer, validated and refined vulnerability discoveries made by Omer Shlomovits, cofounder of the mobile wallet maker ZenGo. The findings break down into three categories of attacks.

The first would require an insider at a cryptocurrency exchange or other financial institution exploiting a vulnerability in an open-source library produced by a prominent cryptocurrency exchange that the researchers declined to name. The attack takes advantage of a flaw in the library's mechanism for refreshing, or rotating, keys. In distributed key schemes, you don't want the secret key or its components to stay the same forever, because over time an attacker could slowly compromise each part and eventually reassemble it. But in the vulnerable library, the refresh mechanism allowed one of the key holders to initiate a refresh and then manipulate the process so some components of the key actually changed and others stayed the same. While you couldn't merge chunks of an old and new key, an attacker could essentially cause a denial of service, permanently locking the exchange out of its own funds.

Most distributed key schemes are set up so only a predetermined majority of the chunks of a key need to be present to authorize transactions. That way the key isn't lost entirely if one portion is accidentally eliminated or destroyed. The researchers point out that an attacker could use this fact to extort money from a target, letting enough portions of the key refreshincluding the one they controlthat they can contribute their portion and restore access only if the victim pays a price.

The researchers disclosed the flaw to the library developer a week after the code went live, so it's unlikely that any exchanges had time to incorporate the library into their systems. But because it was in an open-source library, it could have found its way into numerous financial institutions.

In the second scenario, an attacker would focus on the relationship between an exchange and its customers. Another flaw in the key rotation process, in which it fails to validate all of the statements the two parties make to each other, could allow an exchange with malicious motivations to slowly extract the private keys of its users over multiple key refreshes. From there a rogue exchange could initiate transactions to steal cryptocurrency from its customers. This could also be carried out quietly by an attacker who first compromises an exchange. The flaw is another open-source library, this time from an unnamed key management firm. The firm does not use the library in its own offerings, but the vulnerability could have been incorporated elsewhere.

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Flaws Could Have Exposed Cryptocurrency Exchanges to Hackers - WIRED