Decentralized Crypto Exchange Bancor Reports ‘Security Breach,’ Remains Down for ‘Maintenance’

Decentralized cryptocurrency platform Bancor halted operations Monday, July 9, as it investigates what it calls a “security breach,” reportedly involving over $12 mln. A Twitter post confirmed the breach and Bancor’s halted operations, which the platform says is specifically to allow investigative work prior to a full statement being released “shortly.” “This morning (CEST) Bancor experienced a security breach. No user wallets were compromised,” the tweet reads, continuing: “To complete the investigation, we have moved to maintenance and will be releasing a more detailed report shortly. We look forward to…

Binance Taps UNIDO Goodwill Ambassador to Lead Charity Effort

A goodwill ambassador for the United Nations Industrial Development Organization (UNIDO) has been named as the head of crypto exchange Binance’s new charity foundation. Announced today, the move puts Helen Hai – whose work is primarily focused on development in Africa – at the top of the Binance Charity Foundation, the philanthropic arm of one of the world’s largest exchanges by trade volume. “Helen is a true believer in the Foundation’s mandate: Blockchain for social good. Blockchain can make charity transparent, hence using technology and innovation to support the UN’s Sustainable…

CEO of World’s Largest Crypto Exchange

Changpeng Zhao (CZ), the founder and CEO at the world’s biggest crypto exchange Binance, has said that bitcoin is still in a positive position after its 70 percent fall since early 2018, especially considering its strong rally throughout 2017. Crypto Market is Better in Every Way From January to December of 2017, the price of bitcoin increased from $890 to $20,000, by more than 2150 percent. In comparison to mid-2017, the volume of bitcoin has increased by five-fold, signifying a significant surge in demand and interest towards cryptocurrencies as an…

Platform for Enterprise Blockchain Adoption Nets $45 Mln From A16ZCrypto, Binance

Blockchain cloud computing platform Oasis Labs announced July 9 that it has raised $45 mln from major investors as part of its plan to help companies adopt blockchain. In a press release, Oasis, which has University of California professor Dawn Song as its CEO and co-founder, described its plans to build a “decentralized internet” by resolving businesses’ “concerns” about implementing the technology. “Blockchains are poised to revolutionize much of the way we live, but many developers and organizations have understandable concerns about performance and privacy limitations that are currently hindering…

Block.One Is Taking a Bigger Role With EOS (And That’s a Big Deal)

Block.One has decided to start voting with its hoard of EOS tokens. Announced last week, the decision finds the startup that created the EOS software, now powered by the fifth most valuable cryptocurrency, breaking with precedent in a move that may have come as a surprise to those following the project’s decentralized launch. That’s because since going live on June 14, the company has largely declined to exercise its influence over the code, preferring to encourage its users to unite, even in sometimes messy decision-making. And there’s a good reason…

Bitcoin Remains Above $6,700 as Market Sees Stability, Another Fall Inevitable?

The bitcoin price has remained above the $6,700 mark over the past 24 hours, as major digital assets like ether, Ripple (XRP), and Bitcoin Cash (BCH) demonstrated stability. Is Another Fall to Low $6,000 Inevitable? Previous reports of CCN noted that bitcoin and the rest of the cryptocurrency market will likely experience a movement to the downside than a spike over the $7,000 mark due to the lack of volume and momentum, despite the stability in the market. Over the past 10 days, the price trend of bitcoin replicated its…

Bitcoin Price Constrained Below Key Resistance at $6,800

Bitcoin (BTC) rally has stalled near a key resistance range and a minor pullback could recharge the engine for a much-awaited move toward the $7,000 mark. At press time, the premiere cryptocurrency is flatlined at $6,710 on Bitfinex, having clocked an 18-day high of $6,839 over the weekend and is showing signs of bullish exhaustion near the resistance range of $6,750 to $7,910. For instance, BTC has failed thrice in the last seven days to hold on to gains above $6,754, which is the 23.6 percent Fibonacci retracement of the…

Czech Firm Reveals $100 Mln Venture Fund for Israeli Startups With ‘Emphasis’ on Blockchain

Investment banking firm Benson Oak revealed it would pump “around $100 mln” into Israel-based startups with an “emphasis” on blockchain, local Israeli news outlet the Jerusalem Post reported today, July 9. The Czech-headquartered giant’s subsidiary Benson Oak Ventures will focus specifically on the Israeli market. Having already raised $25 mln, a further $75 mln is expected, with the company expressing its belief in the potential of both Israel as a jurisdiction and local business projects. “I believe that there are great entrepreneurs in Israel who are leading the platforms of…

Bitcoin Price Watch: BTC/USD In Steady Uptrend

Key Points Bitcoin price spiked above the $6,800 resistance recently before correcting lower against the US Dollar. There is a short-term bearish trend line in place with resistance at $6,730 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to move further higher above the $6,750 and $6,800 resistance levels. Bitcoin price is placed in an uptrend above $6,600 against the US Dollar. BTC/USD may perhaps resume its upside move once the current correction is complete. Bitcoin Price Analysis Bitcoin price bounced sharply…