Devcon 6: 2020 is a Write-Off, Let’s Try 2021 in Columbia

The Ethereum Foundation has postponed Devcon VI until 2021 and will host it in Bogota, Colombia. The Ethereum Foundation says it will not hold blockchain’s largest international conference Devcon VI this year and has moved the event to Bogota, Colombia in 2021 — although a precise date is yet to be announced Colombia is one of the top countries in crypto adoption in the world.  Why the delay? In a statement the Foundation said it necessary to postpone the event until next year due to the global restrictions and travel…

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Bitcoin Price Rallies to $9.6K as Record CME BTC Contracts Expiry Looms

Bitcoin’s strong rally to $9,600 increases the chance of BTC reclaiming $10K but tomorrow’s CME BTC contracts expiry is an event to monitor. Bitcoin (BTC) price continues to inch closer to $10,000, rallying 5.68% to reach $9,600 on May 28. After breaking out of the falling wedge pattern on Wednesday night, the top ranked cryptocurrency on CoinMarketCap pushed through $9,350, a level traders expected to present resistance and made a beeline for $9,500.  Today’s rally brings Bitcoin price back to the $9,600-$9,800 zone where the digital asset traded from May…

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Bitpay Shuns Lightning and Liquid, Says Actual Bitcoin Payments Still Dominate

Bitpay won’t be using Lightning or Liquid any time soon, with actual Bitcoin payments still accounting for 95% of transactions. Pioneering crypto payments service Bitpay has revealed that Bitcoin still overwhelmingly dominates payments and that it has no plans to use second layer solutions like the Lightning or Liquid networks. Bitcoin is often criticised as a payment method because it is slow — the network can process just a handful of transactions per second —  and expensive (the transaction fee recently topped $6) but it remains the preferred payment method…

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Crypto Data Firm Launches Indicators to Fight Fake Asset Volumes and Market Caps

A crypto market data firm now offers a separate indicator for crypto asset market capitalization and volume data aggregated only from transparent exchanges. Cryptocurrency market data provider Nomics has launched indicators for crypto asset market capitalization and volume data aggregated from transparent exchanges. According to an announcement on May 28, the new indicators introduced by Nomics only include data from cryptocurrency exchanges with A+, A or A- transparency ratings. Nomics co-founder and CEO Clay Collins explained to Cointelegraph what he believes makes the transparent market cap indicator interesting: “Transparent market…

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The Last Time This Happened, Bitcoin Surged From $3,150 to $14,000

In 2019, the price of Bitcoin surged from $3,150 to $14,000 when the inflow of BTC into exchanges plunged, and it just happened again. Leading crypto exchanges are holding around 1.36 million BTC, worth around $12,880,000,000. The last time major trading firms had such low Bitcoin reserves, the price of the dominant cryptocurrency surged from $3,150 to $14,000. Market data indicates a growing number of investors are moving their Bitcoin holdings out of exchanges. It shows traders have no intention of selling BTC at the current price of $9,400. Top…

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After a Slow Start, Tether Sees Increasing Usage in DeFi

Tether usage is picking up pace in DeFi as Aave reports over 10% of its assets locked are in USDT, after a slow start that saw its competitor USDC gain adoption. Tether (USDT) usage in decentralized finance (DeFi) appears to be growing, as lending protocol Aave reports over $7.2 million in USDT locked, out of a reported $60 million in total assets. This result comes two months after the initial launch of Tether on the platform, which offers a wide range of other stablecoins including Dai (DAI), USD Coin (USDC),…

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Torus Launches Key Management System to Streamline DeFi

Torus has launched its non-custodial key management solution, which is designed to bring web2.0-like user experiences to web3 applications. Crypto key management platform, Torus, has launched its non-custodial key management solution DirectAuth — enabling streamlined log-in experiences for web3 applications. DirectAuth builds on top of the Torus Wallet, which facilitates one-click logins for decentralized applications, or dapps. The addition of DirectAuth allows persistent logged-in action, streamlining transactions and signing from within a single app. DirectAuth utilizes multi-party computation, or MPC, for distributed key generation. Users can also send ERC-20 and…

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A New Ransomware Deploys Human-Operated Attacks Against Healthcare Sector

Microsoft unveiled a new human-operated ransomware called “PonyFinal” that deploys the attack by launching manually a payload. Microsoft’s security team revealed a new ransomware that is deployed in human-operated attacks. It uses “brute force” against a target company’s systems management server, and mainly has targeted the healthcare sector amid the COVID-19 crisis. According to a series of tweets published by the tech giant on May 27, the human-operated ransomware attack, named “PonyFinal”, requires hackers to break the security scheme of corporate networks in order to deploy the ransomware manually. That…

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MIT Group Funding Shows Growing Crypto Trading Interest

An MIT startup focused on providing institutions better access to crypto trading technologies, recently secured millions in funding. Floating Point Group, or FPG, a startup delivering institutional crypto traders automation technologies, garnered $2 million of capital from several entities. “It’s becoming clear that sophisticated quantitative traders and platform developers are viewing the cryptocurrency markets as an exciting new opportunity,” FPG CEO John Peurifoy explained in a May 28 statement.  The funding goes toward expansion  Algorand CEO Steve Kokinos, Seabury Global Markets, AngelList founder Naval Ravikant, and multiple others invested the money…

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Twitter Evidence May Prove Hal Finney Is Not Satoshi

Evidence from 10 years old tweets helps eliminate Hal Finney as a viable Satoshi Nakamoto candidate. A tweet from 2010 may provide evidence that Hal Finney is not Satoshi Nakamoto. In a recent Cointelegrpah interview, Laszlo Hanyecz, who worked closely with Satoshi Nakamoto in 2010, said that Satoshi had no familiarity with the Mac ecosystem: “He didn’t have a Macintosh. He didn’t know how to build it for Mac.” Consequently, Satoshi asked him to develop a MacOS version of the Bitcoin client, which he eventually did. Both Finney & his…

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