Analysis

China’s internet giants appear unlikely to follow Facebook into the cryptocurrency space anytime soon – though you can be sure they’re paying attention. Pony Ma, the CEO of Tencent, the parent company of social messaging and payments app WeChat, said Wednesday that he thinks regulation will be the deciding factor for the success of Facebook’s Libra initiative. “The technology
0 Comments
Analysts at investment bank Canaccord Genuity think Facebook’s new cryptocurrency might benefit the world – if regulators allow it. In a note to clients Wednesday, analyst Michael Graham wrote that Facebook’s Libra Network, unveiled on Tuesday, would seemingly benefit the blockchain space, unbanked individuals and (to some “modest” amount) Facebook’s bottom line. However, he highlighted
0 Comments
U.S. authorities seized more than $200,000 worth of bitcoin after alleged drug manufacturer and dealer met with undercover law enforcement officers to exchange the digital currency for cash at a hotel in Norwood, Massachusetts. The arrest — which occurred on March 27, 2019 — was part of a wider investigation into a Boston-based drug syndicate
0 Comments
The head of the U.S. House of Representatives Financial Services Committee wants Facebook to stop developing its new Libra cryptocurrency network – at least temporarily. Congresswoman Maxine Waters asked Facebook to halt development of the Libra Network until hearings can be held. The move follows a letter written to her by her Republican counterpart, Representative Patrick
0 Comments
The Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action against Control-Finance Limited, a purported Bitcoin trading and investment company, and its founder, Benjamin Reynolds, of the United Kingdom. The complaint charges the defendants misappropriated at least 22,858.822 bitcoin—worth at least $147 million at the time—from more than 1,000 customers through
0 Comments
“The (virtual) gold rush is on, and as in the Wild West of yore, the outlaws are ever present,” wrote blockchain developers and academics in a recent paper, Polygraph: Accountable Byzantine Agreement. Luckily, these researchers have have discovered a way to detect and punish dishonest blockchain users. The authors — Vincent Gramoli and Pierre Civit of the
0 Comments
Two of the world’s largest top-10 enterprise software companies by revenue have joined the Hyperledger blockchain consortium. Microsoft and Salesforce are among the eight new members announced by Hyperledger Tuesday. The recruits also include Norilsk Nickel (Nornickel), a Russian metal company; Gloscad, a Polish tech company developing solutions for the agriculture industry; and Milligan Partners,
0 Comments
Grayscale Investments, the cryptocurrency asset manager backed by Digital Currency Group, which acquired CoinDesk in 2016 – has released a report showing what it argues is bitcoin’s potential as a hedge against global liquidity crises. Overall, the authors suggest bitcoin ought to be considered a strategic position within long-term investment portfolios considering its transparent, immutable
0 Comments
Four of Brazil’s major financial authorities have come together to regulate emerging technologies, including blockchain. The Ministry of Finance, the Central Bank of Brazil, the Securities Commission, and theSuperintendent of Private Insurance recently announced their intention to adapt new regulations to manage fintech and cryptocurrency advances. The regulations will affect Brazil’s securities, financial, and capital
0 Comments
The developers behind the Cosmos network released today a full disclosure of last month’s “critical security vulnerability” which reportedly enabled hackers to bypass certain penalties for misbehavior on the network. Zaki Manian, director at Tendermint Inc – the for-profit entity behind the core technology of the Cosmos network – detailed to Coindesk in an interview:
0 Comments
Algorand, a permission-less, proof-of-stake blockchain and technology company, announced that their node repository is now open source. Part of Algorand’s ongoing mission to develop and promote a decentralized blockchain, the company has made several of its projects open source over the past year, including a Verifiable Random Function and their Developer SDKs. The blockchain’s nodes
0 Comments
Noted economist and cryptocurrency skeptic Nouriel Roubini has said Facebook’s soon-to-be unveiled cryptocurrency, reportedly called GlobalCoin, is not really crypto. In a conversation with CoinDesk, Roubini – also nicknamed “Dr. Doom” for his prediction of the financial crash in 2007–2008 – said: “It has nothing to do with blockchain. Fully private, controlled, centralized, verified and authorized by a
0 Comments