New Mining Manufacturer Linzhi Announces Ethereum ASIC Miner

Chen Min, the former chief chip maker at Bitcoin mining chip developer Canaan Creative, is turning her attention to Ethereum. Announcing her venture at the Ethereum Classic Summit in Seoul, South Korea, Chen’s new company, Linzhi, will focus on building cryptocurrency mining devices, and its first official products are a series of application-specific integrated circuit (ASIC) miners designed specifically for Ethereum and Ethereum Classic. Ethereum ASIC miners are relatively new. The first group arrived five months ago in April by way of Bitcoin mining giant Bitmain. Known as Antminer E3s,…

Gemini Can Freeze its USD-Pegged Cryptocurrency at Any Time

Much has been made in recent days about how Gemini dollar (GUSD), a USD-pegged stablecoin created by the Winklevoss-founded Gemini cryptocurrency exchange, can help regularize cryptocurrency as a mainstream asset class. However, decentralization hardliners may be dismayed by the details of this grand bargain. GUSD Smart Contract Gives Gemini Broad Control Writing on tech publication Good Audience, blockchain researcher Alex Lebed performs a code review of the Gemini dollar smart contract, finding that, contrary to the ethos and technical specifications of decentralized cryptocurrencies like bitcoin, GUSD includes a provision that…

ECB Has ‘No Plans’ to Issue a Digital Euro, Says Mario Draghi

The chief of the European Central Bank (ECB) said Friday that the institution sees no “concrete need” to issue a digital version of the euro, Reuters reports. In a letter to a member of the European Parliament, ECB President Mario Draghi said a lack of robustness in the technology that would underlie such an endeavor, as well as the high levels of physical cash use cross the EU, meant the option is not on the table at present. “The ECB and the Eurosystem currently have no plans to issue a…

Ether Records Highest Daily Trading Volume in 12 Months

Daily trading volume for ethereum’s ether (ETH) token hit a 12-month high on Thursday. The second-largest cryptocurrency witnessed a 24-hour trading volume of $850,000 yesterday – the highest level since September 15, according to Bitfinex data.  Further, the current weekly volume of $2.9 million is the highest since mid-December. Meanwhile, 24-hour trading volume across all exchanges currently stands at $2.33 billion, the highest level since July 18, according to CoinMarketCap. ETH daily trading volume on Bitfinex The sharp rise in trading volume indicates the investors have likely bought the recent…

Ethereum’s Constantinople Hard Fork to Activate on Testnet in October

Ethereum’s upcoming hard fork, Constantinople, will activate in a testing environment next month, core developers agreed on Friday. As detailed by CoinDesk, Constantinople features various backward-incompatible changes designed to increase efficiency on the ethereum network, alter its economic policy and delay the so-called “difficulty bomb.” Speaking in a biweekly video call, developers said the upgrade will activate around October 9 on a cross-client testnet, named Ropsten, which mimics the conditions of the ethereum network itself. However, due to the unpredictability of block confirmation times in the testing environment, an exact block…

Brave Launches Legal Offensive on Google Ads Data Collection Practices

Brave, the startup behind the Brave browser and the Basic Attention Token, has filed regulatory complaints against Google and others over what it considers poor privacy protection for users in the online ads industry. The complaints – filed with the Irish Data Protection Commissioner and the U.K. Information Commissioner on behalf of Brave’s chief policy officer Johnny Ryan, Jim Killock of the Open Rights Group, and Michael Veale of University College London – are aimed to trigger an article in the new European General Data Protection Regulation (GDPR) requiring an EU-wide…

Circle Survey Finds Twice As Many Men Invest in Cryptocurrencies As Women

One in four millennials are interested in investing in cryptocurrencies over the next year. Crypto payments startup Circle conducted a survey of more than 3,000 individuals earlier this week, finding that a majority of millennial investors believe themselves to be “aggressive,” according to the results. Three different generations were interviewed – millennials, generation x and baby boomers. The Goldman Sachs-backed payment platform used Survey Monkey to collect its results, though only it only published responses from users who identified as “aggressive investors.” Notably, the results found that nearly twice as many…

The $1 Billion Tezos Blockchain Is Officially Launching Monday

The “experimental” phase for the Tezos blockchain is over. On Monday morning, the Tezos Foundation will officially announce that the protocol will no longer be in a beta period, and instead be a full mainnet, launched and run by its community. The designation is admittedly largely a semantic one. Tezos launched a mainnet, or live blockchain version of its software at the end of June, and since then its xtz tokens have been tradeable. While the blockchain was being used as intended throughout that time – with the number of network…

Coinbase, BitGo Reaffirm Plans to Focus on Serving Institutions in Crypto

Two US-based crypto behemoths, Coinbase and BitGo, will continue to facilitate growing demand for Bitcoin from institutional investors by operating as trusted custodians. Earlier this week, BitGo was approved by South Dakota regulators to create and operate a crypto custody solution, while Coinbase established a new office in New York exclusively to handle institutional demand into the market. Coinbase New York is now officially open. pic.twitter.com/JCe8r392LB — Michael del Castillo (@DelRayMan) September 13, 2018 Bitcoin Needs Fresh Capital, Institutional Demand Will do it In an interview with CNBC Fast Money,…

A Top-20 Crypto Exchange Is Replacing Tether With a Rival Stablecoin

A top-20 exchange is phasing out an embattled cryptocurrency. Digifinex has decided to replace tether (USDT), perhaps the best-known “stablecoin” designed to maintain a steady exchange rate with the U.S. dollar, with a rival, TrustToken’s TrueUSD. Based in Singapore, Digifinex handled $131 million in trading volume over the past 24 hours, according to CoinMarketCap, making it the 16th-largest exchange by that measure. Kiana Shek, Digifinex’s co-founder, told CoinDesk she’d been “looking for ways to get rid of USDT” for months, adding, “I simply don’t believe in tether but I had…