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“# OKEx users express frustration over suspended withdrawals ” Major exchange OKEx suspended crypto withdrawals on Oct. 16. With little information coming from the firm or its CEO Jay Hao in the time since, users have begun demanding answers via Twitter. In an Oct. 20 tweet from Hao, the CEO stated that there had been…
“# Report ranks crypto next to gold in popularity with Russian investors ” Cryptocurrency investment is one of the most popular investment tools in Russia, according to a new report. The World Gold Council, a major market development organization for the gold industry, released a report on retail gold insights in Russia on Oct. 20….
“# Filecoin creator denies strike allegations ” Juan Benet, the creator of Blockchain-based data storage platform Filecoin, has called allegations that miners of its token have been on strike since Saturday “nonsense.” According to a report by 8btc.com, five of the largest Filecoin miners turned off their machines to protest the project’s “unfair” economic model, which currently…
“# Vinnik trial for extortion and Bitcoin money laundering begins in Paris ” The trial of the alleged launderer of $4 billion worth of Bitcoin (BTC), Alexander Vinnik, got underway in Paris on Oct 19. However, despite reported links to the 300,000 BTC hack of Mt. Gox in 2014, prosecutors are focusing on a €135…
“# Payments-focused cryptocurrency Dash now has a bridge to DeFi ” Dash (DASH) holders will soon be able to access a wide range of decentralized finance, or DeFi, services through a collaboration with StakeHound. According to an announcement on Oct. 19, tokens which are deposited with StakeHound will also earn network rewards through the Dash…
“# Binance Jersey shuts operations less than two years after launch ” Binance, the world’s largest cryptocurrency exchange, announced that it will soon close down its Jersey-based subsidiary, Binance Jersey. Binance launched its platform in Jersey as part of its expansion drive to tap into the European markets. On Jan. 15, 2019, the exchange announced…
“# Former patrons can’t drown sorrows as first-ever bar to accept Bitcoin closes ” A legendary bar and restaurant in Germany that was reportedly the first to ever accept cryptocurrency as a form of payment has permanently closed. According to an Oct. 18 Reddit post from Joerg Platzer, founder of Room 77, the first brick-and-mortar…
“# The curious case of Coinbase — employees driven out by ‘apolitical’ stance ” America’s largest cryptocurrency exchange, Coinbase, made headlines over the past few weeks for an internal culture change that effectively told employees that there will be no space for social activism within its walls. Furthermore, a recently leaked audio apparently reveals that most…
“# Understanding the EU’s 6AMLD and the risk to your business ” In January 2020, the European Union released its Fifth Anti-Money Laundering Directive to increase transparency while tackling fraud, money laundering and cybercrimes. The 5AMLD extended the scope of customer due diligence checks, introduced domestic and politically exposed persons, extended the creation of central…
“# Mission-driven cryptocurrency requires an active commitment to equity ” On Sept. 27, Coinbase CEO Brian Armstrong sought to center his employees’ work around the company’s core mission: “to bring economic freedom to people all over the world.” Armstrong argues for a narrow interpretation of Coinbase’s mission to build the best possible product because it…