Ripple CTO Loses $350k Trading altcoins

David Schwartz, Chief Technology Officer, Ripple has stated that he has lost more than $300,000 investing in altcoins. According to a post on Quora, the CTO was found answering a question “Have you lost money trading in bitcoin and any other cryptocurrencies?” Schwartz joined the conversation and said that he …

Microsoft Employee Sentenced to Nine Years On Bitcoin Scam

A former Microsoft employee has been charged with nine years for stealing more than $10 million in digital currency from his past employer in the form of currency stored value (CSV) including gift cards. Volodymyr Kvahuk (26), a Ukrainian citizen residing in Washington, used his colleagues’ accounts and credentials to …

Japanese Company Develops Blockchain-based E-voting System

Layer X, a Japanese-based firm has announced that it has developed an electronic voting system based on a blockchain protocol. It also mentioned this move is a part of a wider “smart city” initiative that is being pursued by Tsukuba city. The firm included in its announcement that the new …

Philippines Central Bank Planning for Issuing Its Own Digital Currency

The governor of Philippine central bank, Benjamin Diokno has announced that the Philippines Central Bank is studying at the possibility of releasing its digital currency.  According to a report by Bloomberg, July 29, the Philippine central bank, or Bangko Sentral ng Pilipinas (BSP) has created a committee to investigate the feasibility and …

PayPal Enters the Crypto Market- Crypto Payments Will Begin in 2021

PayPal is one of the biggest global payment providers, with 346 million active accounts and $222 billion in volume processed in Q2 2020. It was one of the initial founding members of the Libra association, though it subsequently dropped out after regulatory pressure mounted for the project.  The Paypal partnered …

Despite 98% Support, The 1st Governance Vote For Decentralized Exchange Uniswap Failed

The first governance vote for decentralized exchange Uniswap has ended in defeat, despite the proposal attracting overwhelming support of 98% of votes cast. Notwithstanding, it fell roughly 1% short of the 40 million vote threshold needed for approval by the close of voting. The poll ended today, with almost 39.6 million UNI …

China Spent 10 million yuan on its Biggest Public Trial for World’s 1st Official Digital Currency “Suzhou”

China’s central bank digital currency (CBDC) is the country’s biggest public tests, it pushes closer toward creating a cashless future. Last week, the government in Shenzhen carried out a lottery to give away a total of 10 million yuan (about $1.5 million) worth of the digital currency. Nearly 2 million …

The Security Token Trading Volume Crashed By 60%, September is Still the Second-Best Month On Record

Following four months of spectacular growth, two dozen security tokens drove $9.15 million in trade and during September, security tokens trade volumes have crashed by nearly 60%. According to Security Token Group’s reports, from May through August, monthly volume profits for the sector fluctuated between 113% and 280% posting record highs …

Rebuilding the Global Financial System Using DeFi Technology

Alexander Lebedev, the owner of U.K. newspapers Evening Standard and The Independent have revealed he is looking to launch decentralized finance (DeFi) powered “bank 2.0.” Alexander Lebedev, who is also a former banker, along with Russian publication Novaya Gazeta, has spoken glowingly of the potential for cryptocurrency and smart contracts to revolutionize finance. The Independent, an extensive 1800 word …

Belgian Investors Lost $12M Due to Crypto Scams and Forex Scams

According to a report by Belgium’s financial watchdog, scammers stole up to $12 million from an investor in the country using fraudulent ads. On October 5, the Financial Services and Markets Authority (FSMA), warned the watchdog estimated that investors in Belgium had lost almost 10 million euros, roughly $11.8 million, between May …

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