Coinbase CEO Wants Firm to Move Beyond Trading in Next 5 Years

In a new AMA session, Coinbase CEO Brian Armstrong said that he expects the company to be less about trading, more about adoption. Brian Armstrong, CEO of major American crypto exchange and wallet service Coinbase, believes that the firm will be less about trading and more about adoption five years from now. Armstrong wants the firm to connect people in crypto industry  In an AMA session on July 19, Armstrong presented his vision of the company in five years, claiming that he sees Coinbase as not just a crypto trading…

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Bitcoin Approaches $11,000 With All Top 20 in Green

All top-20 coins by market cap are seeing significant gains, while Bitcoin approaches 11,000. Saturday, July 20 — crypto markets have seen another upward move, with all top 20 coins by market cap seeing major gains, while Bitcoin (BTC) has approached $11,000 mark again. Market visualization from Coin360 After dipping below the $11,000 threshold on July 14, Bitcoin has approached the price point today, with its intraday high of $10,944, according to data from CoinMarketCap. The biggest cryptocurrency added 3.7% to its price to trade at $10,922 at press time.…

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New York Grants BitLicense to Two Seed CX Subsidiaries

The New York State Department of Financial Services (DFS) awarded two subsidiaries of Seed CX, a Chicago-based cryptocurrency exchange, with virtual currency licenses.  In a press release, DFS superintendent Linda Lacewell announced the approval of virtual currency license applications from Seed Digital Commodities Market LLC (SCXM) and Zero Hash LLC. Zero Hash has also been granted a money transmitter license.  “The Department’s approval of these new licenses will provide institutional customers with more choice while also protecting consumers and the public through strong anti-money laundering, cybersecurity and other compliance standards…

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In Senate Hearing, Facebook’s Iffy Reputation Looms Over Libra Plans

Today, Libra project head David Marcus testified in front of the United States Senate Banking Committee on Facebook’s incipient “cryptocurrency.” The discussion was largely overshadowed by Facebook’s tarnished reputation for user privacy and the mistrust its business practices have engendered.  Facebook announced Libra a little less than a month ago, but the idea of it has already captivated lawmakers and regulators around the globe. From the day of its unveiling, officials have raised concern over consumer data integrity/privacy, anti-money laundering (AML), terrorism financing and the fact that Facebook has proposed…

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The Ryuk Virus Is Spreading Through China, Asking 11 BTC Ransoms

This article was originally published by 8btc and written by Vincent He. A ransomware virus named Ryuk has spread to China, asking the users of infected devices for a hefty bitcoin ransom.  Tencent Security reported on July 17, 2019, that it has monitored Ryuk and found that it encrypts data on an infected device and demands a ransom in bitcoin. The ransom is generally very high and has recently reached 11 BTC. The virus disables victims’ systems with sophisticated ransomware, mainly through botnets. First found in North America, it uses…

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Cartoon: Trilemma

One of the key challenges in blockchain projects is dealing with the “trilemma” challenge: how to develop technology that is scalable, decentralized and secure, without any element being diminished. For example, Bitcoin is both decentralized and secure, but critics have historically argued that it is not scalable. Luckily, Layer Two solutions are currently working to solve Bitcoin’s scalability restraints and put an end to the Bitcoin trilemma. The post Cartoon: Trilemma appeared first on Bitcoin Magazine.

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BTC Outflow on BitMEX Exceeded Inflow by $73M: TokenAnalyst

Bitcoin outflows on BitMEX exceeded inflows by $73 million after the exchange was reported to be investigated by the CFTC. Bitcoin (BTC) outflows on major crypto exchange BitMEX have notably exceeded the inflows after the firm was reported to be a subject in a regulatory investigation. Bitcoin outflows on BitMEX exceeded inflows by $73 million Over the past 24 hours, BitMEX saw an outflow of $83 million worth of Bitcoin, while only $12 million came in, London-based blockchain data provider TokenAnalyst reported in a tweet on July 19. 24-hour on-chain…

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Bitcoin Retakes $11,000 Following Turbulent Week in Crypto

Bitcoin back over $11K following slump through a turbulent workweek. July 20 — Bitcoin (BTC) has retaken the $11,000 price point on the heels of a turbulent week. Charts Courtesy of Coin360.com Charts Courtesy of Coin360.com After a bull market at the end of June brought the price of BTC to almost $14,000, the coin had largely been maintaining between $10,000 and $13,000 for most of the past month, briefly cracking $11,000 on July 15 before slipping below the $10,000 price point on July 16. For the past three days,…

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Money and Democracy: How the Elite Manipulated Ledgers and Created a Social Ranking System

Money is one of the most important but least understood manmade tools in existence. For more than 5,000 years humans have used a tool of exchange called money to facilitate trade. During this timespan, the evolution of money has evolved into a system of information, a social contract, and a ranking system. Also Read: IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users Introducing the General Ledger The evolution of money has a fascinating history and the birth of the Bitcoin network transformed society’s concept of the subject into something…

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Top-5 Crypto Performers: BSV, XTZ, TRX, LTC, ATOM, OKB*

A few of the top performers of the week are showing signs of a turnaround. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. While Libra is expected to draw retail customers to cryptocurrencies, Bakkt is likely to attract institutional investors. Following the Bakkt Digital Asset Summit held on July 18, Managing…

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