Square Receives the Illusive BitLicense, Bithumb Hacked in this Week of Crypto Ups and Downs

Top Stories This Week Leading South Korean Crypto Exchange Bithumb Hacked For $30 Mln In Crypto Bithumb, which has fallen from 6th to 10th place for cryptocurrency exchanges worldwide by trading volume, has had about $30 million worth of cryptocurrencies stolen in an apparent hack. Bithumb has temporarily suspended all deposits and payments, noting that they are moving all assets to a cold wallet and will compensate victims of the hack. The Korean Ministry has since launched a probe into the causes of the Bithumb hack, and Bithumb has promised…

It Is up to the Industry to Get Its Own House in Order

This interview has been edited and condensed. Mike Butcher, an editor-at-large of TechCrunch is a pioneer of the tech and journalism industries. He has also started covering the crypto industry and blockchain technology, as — in his words — “that is effectively going to be a new way to the future.” He first heard about crypto back in 2011 and it was ‘Bitcoin that got [him] interested’ in the space.’ “I think it is sort of a general theme — decentralization. It is really fascinating, you know. We had Google,…

Coinbase Should Add XRP [And It’s Not a Security]: Ripple CEO

Brad Garlinghouse, the billionaire CEO at Ripple Labs, the company that oversees the development of XRP, the $18 billion blockchain network, has said for the first time in public that Coinbase should integrate XRP, the native cryptocurrency of the Ripple network. CEO Says Ripple is Clearly Not a Security In an interview with Jeff John Roberts from Fortune at CB Insights Future of Fintech conference in New York, Ripple CEO Brad Garlinghouse said that XRP is solving problems at scale for institutions and large-scale banks, and Coinbase should be interested…

China’s Latest Government-Backed Crypto Rankings Put EOS 1st, BTC 17th

The second round of China’s state-backed monthly ratings of cryptocurrencies and blockchain projects has been released, Cena News reported June 21. Dubbed the “Global Public Chain Technology Evaluation Index,” this latest round was announced at the Shanghai Science Hall on June 20, and ranks EOS 1st, Ethereum (ETH) 2nd, and Bitcoin (BTC) 17th, out of a total of 30 analyzed cryptocurrencies. China’s monthly “Global Public Chain Technology Evaluation Index” is published by the China Center for Information Industry Development (CCID) of the Ministry of Industry and Information Technology, and is…

Peering Through the FUD About Crypto

In the short space of nine years, Bitcoin has thrust cryptocurrencies into mainstream consciousness by shaking up the financial world. Since its inception in 2009, the preeminent cryptocurrency has thrown a spanner in the works of traditional banking and financial institutions and has paved the way for the creation of a plethora of industry-shaping virtual currencies and blockchain-based innovations. With that being said, it’s been far from smooth sailing for Bitcoin or any other cryptocurrency. Dramatic highs and soul-shattering lows have been part and parcel of the past nine years.…

Current Bear Trend ‘By No Means’ Funeral for Bitcoin

The current bear market is not a funeral for Bitcoin (BTC) “whatsoever,” CEO of BKCM LLC investment firm Brian Kelly said on CNBC’s Fast Money segment June 22. We tried to have a funeral for #Bitcoin as it fell below $6K, but @BKBrianKelly is still a believer. Here’s why he thinks the cryptocurrency will resurrect pic.twitter.com/B8ozbzPsfJ — CNBC’s Fast Money (@CNBCFastMoney) June 22, 2018 To back up his statement, Kelly provided three key factors. First, he pointed out that the market sentiment is “approaching lows,” implying that a trend reversal…

EY Launches Blockchain Content Rights Platform with Microsoft as Partner

Global leader in advisory services, EY, in partnership with Microsoft announced a blockchain based solution which facilitates content rights and royalties management. To start things off, Microsoft and affiliated game publishers will be using the solution in the gaming industry, although this sort of a solution can be used in multiple industries where intellectual property(IP) or assets are licensed. Gaming happens to be a huge and impulsive market which serves a good case for testing the waters. The solution aims to have a real-time visibility of transactions that will hopefully give…

Liechtenstein’s Blockchain Law, Crypto Banking and ICOs, Interview With Prime Minister

Adrian Hasler, the Prime Minister of Liechtenstein, is certain that blockchain technology will have an impact on a variety of areas and is preparing a new blockchain law to provide essential requirements in order to establish a regulatory base for blockchain businesses. The blockchain law — so called Blockchain Act — was announced by Adrian Hasler at this year’s Finance Forum on March 21. According to Adrian Hasler, the new act is about integrating current business models in regulatory terms in order to give companies and their clients a legal…

Crypto Tourism Is Growing – For Better or Worse

Cryptonation. Blockchain Cruise. CryptoCribs. These are just several of the names of tourism programs focused on the blockchain industry, from luxury cruises to Middle East startup tours, that are part of a growing trend targeting crypto-curious travelers. The Blockchain Cruises, organized by the tourism arm of Edinburgh, Scotland-based crypto wallet provider CoinsBank, have garnered a significant amount of attention. Already, the company has hosted two, where crypto millionaires partied hard on the sea, and now they’re gearing up for their third cruise through the Mediterranean in September. During the cruise,…

Cryptocurrency Market Drops to $241 Billion, EOS Takes a Huge Beating

From $260 billion to $241 billion, the valuation of the cryptocurrency market has dropped by over $19 billion in the past 24 hours, as major cryptocurrencies including bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS fell by large margins. For a third day in a row, EOS, the delegated proof-of-stake (PoS) network based on the Ethereum blockchain protocol, has recorded the biggest loss amongst major cryptocurrencies. On June 24, EOS recorded a loss of 13 percent, while BTC, ETH, XRP, and BCH fell 3.5%, 4.6%, 5.8%, and 8.5% respectively. Why the…