Parity Urges Users to Install Update After Discovering Testnet Vulnerability

Users of Ethereum software issued by Parity Technologies face enforced updates this week after warnings a testnet vulnerability could spread to the Ethereum network, according to Parity’s blog post June 6. Parity is a UK-based provider of infrastructure software for interacting with the Ethereum network. A blog post from the company June 5 originally flagged the security problem, describing it as a “potential consensus issue with Parity Ethereum.” Alert: Please update your Parity Ethereum clients to 1.11.3-beta or 1.10.6-stable asap. https://t.co/QNxzv74kSF — Parity Technologies (@ParityTech) June 6, 2018 Users affected…

SEC Chairman Jay Clayton Says Bitcoin Not a Security, Most ICOs Likely Are

Jay Clayton, the chair of the US Securities and Exchange Commission (SEC), believes that Bitcoin (BTC) is not a security since it acts as a replacement for sovereign currencies, CNBC reports today, June 6. Clayton, when speaking about the “incredible promise” of distributed ledger technologies driving efficiencies in markets, clarified during today’s CNBC interview his thoughts on cryptocurrencies that are “replacements for sovereign currencies:” “Replace the dollar, the yen, the euro with Bitcoin. That type of currency is not a security.” While Clayton did not comment on specific assets besides…

Investment Firm VanEck Attempts New Bitcoin ETF Filing, Aims at Institutional Players

VanEck and SolidX Partners Inc. have filed a request to list a Bitcoin-based exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), Bloomberg reports June 6. VanEck is an NYC-based investment management firm with $38 bln under management and SolidX is a provider of blockchain software development and financial services. According to a report by Bloomberg, the request filed with the U.S. Securities and Exchange Commission is for a fund that is physically-backed, meaning it will hold actual Bitcoins. The firms bringing the request say that this will…

Rebound to $7,800 Could Confirm Short-Term Rally For Bitcoin

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The bitcoin price has increased from $7,300 to $7,600 over the past 24 hours, sparking optimism regarding the short-term growth of bitcoin. A break to $7,800 could confirm a short-term rally for bitcoin while a drop below the $7,500 mark could lead it back to the $7,300 region, making $6,000 a possibility, yet again. Low Volume The price trend of bitcoin and predictions of analysts are conditional as of current due to the low volume of BTC.…

Investment Giant Fidelity Issues Job Offers for Crypto Exchange Devs

US investment giant Fidelity Investments is hiring developers to build a cryptocurrency exchange, reports claim June 6 citing internal correspondence. Fidelity, with its $2.45 trln under management, has allowed clients to hold Bitcoin alongside traditional assets, and is now reportedly circulating job offers related to building a “digital asset exchange.” Specifically, executives notified employees the firm is looking for a DevOps System Engineer “to help engineer, create and deploy a Digital Asset exchange to both a public and private cloud,” according to Business Insider quoting the circular. The move makes…

Japan’s Financial Watchdog Rejects Crypto Exchange License for First Time

Japan’s Financial Services Agency (FSA) has barred a crypto exchange from receiving an operating license for the first time, Nikkei Asian Review reports Tuesday, June 5. The regulator has now chosen to permanently deny registration to Yokohama-based FSHO, whose services were already suspended twice by the FSA this spring, over concerns the exchange operator did not sufficiently verify the identity of customers in cases of suspect transactions. The FSA has now reportedly concluded that FSHO lacks “the necessary systems to operate its business.” FSHO is one of only two crypto…

Bitcoin Mining Firm Coinmint Confirms Plans for $700 Mln Project in Upstate NY

Cloud mining service Coinmint confirmed it would press ahead with opening a Bitcoin mining plant in an abandoned smokestack in Upstate New York, CNBC reports June 5. The move, which authorities greenlighted in January, will see the company invest “up to $700 mln” in the project, which will repurpose the former 1300-acres-large Alcoa aluminium smelting plant by the end of 2019. Operations will continue under the newly-formed subsidiary North Country Data Center Corporation, which began work this week, a press release confirmed. “As long as bitcoin network exists we anticipate…

Crypto Exchange Huobi to Bankroll Own Blockchain With $100 Mln Dev Fund

Huobi, is announcing the launch of its new public blockchain, the Huboi Chain Project (HCP), the company’s spokesperson told Cointelegraph. As of press time, Huobi is the world’s third largest digital currency exchange by trade volume, according to Coinmarketcap. In order to create the new blockchain, Huobi will fund the Huobi Chain Superhero Championship Program (HCSCP) with an initial investment of 20 mln Huobi Tokens (HT), worth about $100 mln dollars. Huobi will also contribute a portion of its yearly revenue to the program. The 21-month program will “[seek] out…

Huobi to Launch Public Blockchain, Develop ‘Next Gen. Financial Protocol’

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Major cryptocurrency exchange Huobi has unveiled plans to launch a public blockchain that it hopes will serve as the foundation for a “next generation financial protocol.” Announced on Wednesday, Huobi Chain aims to fulfill the dream of the blockchain-based decentralized autonomous organization (DAO) by enabling the Singapore-based exchange operator to gradually migrate its operations to a decentralized platform and automate them using smart contracts. Huobi Chain product director Gordon Chen told CCN that the initiative is an…