Yuan-backed Stablecoin Soon to be Issued by Tether

According to the Chinese media ChainNews, Tether has massive plans to issue a Chinese yuan-backed stablecoin. Zhao Dong, a large shareholder at Bitfinex, revealed to ChainNews that the new stablecoin will be issued in the very near future. The stablecoin operator behind USDT aims for its new stablecoin to be backed entirely by the Chinese yuan and be held in offshore accounts under the CNHT ticker. The yuan-backed stablecoin will without a doubt be an interesting catch for many different investors. Zhao stated that his own digital asset management platform…

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Indian Supreme Court Slams the Reserve Bank of India Over Crypto Ban

It’s incredibly rare to see a government actually protect the interests of its citizens without a hidden agenda. Surprisingly enough, the Indian Supreme Court went against expectations and slammed the Indian Central Bank over the way it mishandled the crypto business ban and failed to address the countless complaints which followed immediately afterwards. #Crypto v.#RBI Hearing of Crypto case has resumed. Mr. Shyam Divan, Ld. Sr. Advocate started his arguments for RBI. Most likely the arguments will conclude today. This coverage is #powered by @coindcx pic.twitter.com/DJalJkM4zb — Crypto Kanoon (@cryptokanoon)…

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PBoC and its New Currency Can Take Business From Chinese Giants

After China announced that it would develop its own digital currency to counter the release of Libra, some experts now believe that China’s answer, could potentially help the People’s Bank of China (PBoC), take business away from local giants as well. According to Cindy Wang, an analyst at DBS Group Research, Beijing will most likely profit on more than one front from the appeal of its state-issued digital currency. Wang states that two of the biggest payment giants in china – Alipay and WeChat Pay, basically account for 9 out…

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World Bank Raises $33 million for Kangaroo Bond Only Via DLT

Last week, the World Bank announced that $33 million were raised for its Kangaroo bond. The bond is due August 2020 and all the funds were via blockchain technology. According to the World Bank, this is the first bond in the world that has been entirely created, transferred, allocated and managed entirely by disturbed ledger technology (DLT). The report highlights that the initiative expands the bank’s Bond-I blockchain platform by combining 3 joint lead managers, the Commonwealth Bank of Australia (CBA), RBC Capital Markets and TD Securities. The World Bank…

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PlusToken Exit Transactions Totaled 22493 Bitcoins or $2.9 billion

When it comes to cryptocurrencies and scams, unfortunately the list is too big to count. In very few occasions however, the transactions by which the scams made their exit have been as large as the 4 transactions from the alleged PlusToken scam. The recent large BTC transactions are likely from PlusToken, but we have not been able to confirm it yet. — Whale Alert (@whale_alert) August 17, 2019 The first notice about the extremely large transactions came from Whale Alert – the twitter service account dedicated to following all the…

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103 Bitcoins Lost: QuadrigaCX Clients Still Left in the Dark

Earlier this year, the CEO of QuadrigaCX passed away and left behind a lot of issues for the exchange and its customers. 6 months later, the Canadian crypto exchange is now defunct, but users are still requesting information about the recent loss of 103 bitcoins. Back in February, QuadrigaCX appointed Ernst & Young (EY) to act as an independent third party to monitor all the proceedings in the creditor protection case. A short time after EY’s appointment, the company announced that Quadriga inadvertently transferred 103 bitcoins to cold (offline) wallets…

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Marketing Campaign Gone Wrong: Bitmain Against Mangocoin

Promotion is a key element when it comes to the sale of a new asset. Marketing agencies aren’t one of the most overpaid branches of the modern world for nothing. One of the most efficient marketing strategies out there, is to have a highly-respected member of the community to aim to attract stand behind the new product. Sometimes however, the highly-respected members’ reputation can quickly take a turn for the worse if the product turns out to be a scam. The crypto world has had its fair share of scams…

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Answer to Libra is Ready: China’s Digital Currency Has Been Completed

After Libra revealed its white paper, a lot of geopolitical and financial analysts speculated about China’s potential answer. A little less than a month later, rumors began surfacing that China was already in development of its own digital currency to counter Libra. Last week, The People’s Bank of China (PBoC), claimed that the counter-cryptocurrency is now ready. Mu Changchun, a deputy director in the PBoC stated that a prototype has successfully been developed now. Mu explained that this prototype adopts blockchain architecture and becomes a reality after more than 5…

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Quonic: Crypto-Friendly Bank Is Open to Crypto Companies

It’s a very welcomed sight when banks finally begin to realize how outdated they are and attempt to modernize. Quonic Bank from New York City bank however, has recently begun to do business with crypto companies. This puts the bank in the very limited list of US financial institutions who have begun to embrace the crypto sector. Quonic Bank opened a checking account for a bitcoin ATM company last month. There are also ongoing negotiations to complete a contract to deliver banking services to another emerging crypto startup. Steven Schnall,…

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Smominru: Monero Malware Now Goes After User Data

The Malware Smominru is known for mining Monero (XMR) and having a very large infection rate. Projections show that there are at least 500 000 infected personal computers. According to the cybersecurity company Carbon Black however, it seems that Smominru has received a major upgrade. The company’s Threat Analysis Unit seems to have discovered that a new component has been added to the malware. This new component enables Smominru to now steal system access information. The report states that the stolen information is almost always found on the dark web…

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