Etherum Fees Double In a Week As DeFi Heats Up

ethereum fees

The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month. Ethereum fees remain at historically elevated levels, as miners scramble to add capacity and profit from record-breaking network activity levels. Average transaction fees on the Ethereum network have more than doubled since last week, rising to $11.61 on September 17 and maintaining a streak of prices above $2 that’s now lasted for more than a month, far longer than any previous stretch at those levels. The Ethereum blockchain hash rate—the amount…

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The Bahamas will launch a digital Central Bank ‘Sand Dollar’ in October

Bahamas

The Bahamas is gunning to become the first country in the world to roll-out a state-backed virtual currency nationwide, and has announced it will launch a central bank-issued cryptocurrency during October. The assistant manager of eSolutions at the Central Bank of The Bahamas, Chaozhen Chen, told Bloomberg that the digital currency, dubbed ‘Sand Dollars’, is intended to drive greater financial inclusion among the remote islands within the archipelago nation. “A lot of residents in those more remote islands don’t have access to digital payment infrastructure or banking infrastructure. We really…

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DoJ Aims to Seize 280 Cryptocurrency Accounts Used by Hackers

FBI DoJ

Complaint details collaboration with China to funnel $250m in stolen funds as part of state-sponsored attacks. The U.S. government aims to seize control of 280 illegal cryptocurrency accounts it claims were used by North Korean state-sponsored attackers in their efforts to hack cryptocurrency exchanges and funnel hundreds of millions in stolen funds through a Chinese money-laundering network. The U.S. Department of Justice (DoJ) filed a civil forfeiture complaint against North Korea Thursday as part of a broader effort to shut down that it said were state-sponsored cyberattacks on currency exchanges…

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China’s Blockchain Service Network to launch stablecoin support in 2021

China’s Blockchain Service Network

China’s national blockchain project BSN could be the best fit for the digital yuan. China’s nationwide blockchain project, the Blockchain Service Network, or BSN, will be integrating stablecoin support in 2021. Yifan He, CEO of Red Date Technology, a major tech company involved in the BSN development, told Cointelegraph that the project will soon start integrating stablecoins. Piloted in late 2019, China’s BSN is a state-backed initiative that intends to support medium-sized businesses in building and deploying blockchain applications. The exec explained that stablecoins will be used as payment for…

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Russia’s New Crypto Analytics System to Track Dash and Monero

Crypto Analytics System

Dubbed “Transparent Blockchain,” Russia’s new crypto analytics system is designed to fight illicit activity related to crypto. A major financial watchdog in Russia is developing a new cryptocurrency analytics tool to trace major cryptos like Bitcoin (BTC) and privacy coins. Russia’s Federal Financial Monitoring Service, a federal service combating money laundering and terrorist financing, is reportedly planning to build a new analytics platform for tracking cryptocurrency transactions via artificial intelligence. Dubbed “Transparent Blockchain,” the new system is designed to track the movement of digital financial assets and identify crypto service…

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MicroStrategy bought Bitcoin for $250 million

MicroStrategy

MicroStrategy, a Virginia-based business intelligence software company that trades on the NASDAQ, announced on Tuesday it has acquired 21,454 Bitcoin in what describes as a “capital allocation strategy.” The move is a novel one for a publicly traded firm. While many companies put surplus capital into bonds and other investments as part of their treasury management strategies, a bet of this size on Bitcoin is all but unheard of. “[I]nvesting in the cryptocurrency would provide not only a reasonable hedge against inflation, but also the prospect of earning a higher…

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Philippines Central Bank Governor Confirms Interest in Launching A Digital Currency

Filipínská vlajka

The central bank of the Philippines, otherwise known as Bangko Sentral ng Pilipinas (BSP), expresses its interest in launching its own central bank digital currency (CBDC). In a story first covered on Bloomberg, the governor of BSP, Benjamin Diokno, stated the country had formed a research committee on the possible launch of digital currency. The article further states that the research team is set to release its findings in the coming month. The committee, which was formed earlier this year, started its research on the policy implications and potential feasibility…

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Crypto Wallet Maker Ledger Loses 1M Email Addresses in Data Theft

Ledger

Ledger said customer details have been stolen in a data breach that may well have been exploited for over two months. In a note to clients Wednesday, CEO Pascal Gauthier said the French hardware wallet provider fell victim to a large-scale data breach from an unauthorized third party. The hacker, whose identity remains unknown, gained access to Ledger’s e-commerce and marketing database. Customers affected include those who signed up for Ledger’s newsletter or to receive promotional material. Information stolen included email addresses, with a smaller “subset” of 9,500 customers also…

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Twitter hacked in Bitcoin scam

Twitter Bitcoin scam

Twitter was hacked yesterday when Bitcoin scammers sent a series of tweets from the official accounts of Apple, Uber, Joe Biden, Elon Musk and hundreds of others, reaping more than $100,000 (£79,500, €87,750). The platform said that some of its employees had been targeted by a social engineering campaign, allowing hackers to gain access to its internal systems. The severity of the incident is still being investigated. Appearing across multiple high-profile accounts in a matter of minutes, various tweets promised users that the account holders would double donations from anyone…

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Alibaba leads blockchain patent race

blockchain patents

Data shows that China’s e-commerce giant leads the way in awarded blockchain patents, with Chinese and US firms aggressively filing to stake out protection for their IP. A new report from the China Patent Protection Association shows that Chinese multinational Alibaba leads the world in patents awarded for blockchain-related technology. According to the 2020 Blockchain Global Patent Au­tho­ri­sa­tion Re­port, there are 3924 awarded patents for blockchain tech to date. US firms account for the lion’s share of awarded patents, at 39%, Korea has 21%, while China comes in at 19%. Alibaba leads…

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FC Barcelona’s BAR Token Price Jumps Over 150% on First Trading Day

FC Barcelona

Premier soccer club FC Barcelona has launched a token earlier this week in a token sale that ended in the space of two hours. In it, 600,000 tokens were sold at €2 ($2.25) each, and these tokens are now already trading above €5.6 (around $6.35). The tokens, known as Barça Fan Tokens, were bought by the club’s supporters either through the club’s own “Socios” voting platform or through Chillz, a sports-specific token platform and exchange. The team is, in part, managed by its socios. Total trading volumes for Barcelona’s BAR…

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Chinese Mining Company Ebang to Reportedly List on Nasdaq This Week

EBANG

Chinese Bitcoin (BTC) miner manufacturer Ebang will reportedly be listed on Nasdaq Global Market under the ticker EBON later this week, becoming the second crypto mining company to go public in the United States. According to a report from Chinese crypto news outlet Blockbeats, Ebang will be officially listed on Friday, June 26. Additionally, Blockstream chief strategy officer Samson Mow tweeted a screenshot of an invitation to a Ebang event held at a hotel in Hangzhou, where the company is headquartered, which also starts on Friday. Ebang aims to raise…

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John McAfee’s Ghost Distributed Exchange Now Live

Ghost Distributed Exchange

John McAfee’s controversial Ghost distributed exchange is now live, the cryptocurrency advocate announced on Twitter over the weekend. The Ghost distributed exchange is related to McAfee’s privacy project Ghost, a Proof of Stake privacy coin intended for more anonymous transactions. McAfee clarified on social media that Ghost will replace the McAfeeDEX distributed exchange. The Ghost main net itself is expected to go live on June 22. Ghost has been the subject of contention for months especially after McAfee himself admitted Ghost “copy-pasted” parts of its white paper from PIVX. Even…

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User Pays a Second $2.6 Million Fee in Ether Transaction

ETH Transaction Fee

History repeated itself on Thursday, after the Ethereum blockchain processed another transfer with fees of $2.6 million – the second such unusual, record-fee transaction in 24 hours. A user sent 350 ether (ETH), worth about $86,400 and paid 10,668 ETH, or $2.6 million, in transaction fees. The latest transaction was mined on block 10241999 by the Ethermine pool, a unit of Bitfly. Notably, this is a transaction that originates from the same address, of the same customer who paid the same amount of fees yesterday to send just $134 worth…

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Brave under fire for affiliate link autofill

brave browser aff link

Brave appears to have removed a controversial feature that was auto-filling the company’s affiliate link when a user attempted to access Binance. Crypto-powered privacy-focused web browser Brave has come under fire for automatically filling an affiliate link into its address bar when a user attempts to access the website for leading crypto exchange Binance and its United States-based subsidiary Binance.US. Brave’s co-founder and chief executive, Brendan Eich, has acknowledged the “mistake,” pledging that the error will soon be corrected to remove the automatic completion of its affiliate link after the…

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