Study Finds Most Ransomware Solutions Just Pay Out Crypto

A study by ProPublica found that most ransomware solutions providers have one weird trick for getting rid of hackers – paying them off. Ransomware activity is growing weekly according to experts at Coveware . The result? Companies who just want to pay the ransom and move on. According to Coveware, ransomware attacks were up in Q1 2019: In Q1 of 2019, the average ransom increased by 89% to $12,762, as compared to $6,733 in Q4 of 2018. The ransom increase reflects increased infections of more expensive types of ransomware such…

2020 Presidential Hopeful Andrew Yang Says Regulators ‘Owe’ Clarity on Rules for Crypto Industry

Presidential contender Andrew Yang took the stage at Consensus 2019 on Wednesday, facing a friendly (if not slightly boisterous) crowd as he discussed bitcoin, blockchain and his bid for the White House. Amid jokes about a possible YangCoin, Yang essentially pitched himself as a sympathetic friend of the crypto community in an appearance that came weeks after his campaign issued a policy statement on digital asset regulation. He also opined on the declining influence of traditional media, the threat of climate change, his Freedom Dividend pitch, and current U.S. president…

eBay Not Accepting Cryptocurrency Payments

Earlier this week, there were rumors that eBay (NASDAQ:EBAY) is going to start accepting cryptocurrency as a form of payment. While the e-retailing giant did not confirm these rumours at the time, many thought it was true: the company’s banners at the Consensus conference indicated so. But it’s not true. And the company has now confirmed that. Here’s everything we know. eBay Accepting Crypto? Nope It’s no secret that the list of companies that have started to accept cryptocurrencies, like Bitcoin, as payment is growing. And at a rapid pace,…

Bitcoin Cash Experiences Bug During Scheduled Hard Fork Upgrade

In the course of a planned hard fork update, the bitcoin cash (BCH) network experienced difficulties processing transactions, cryptocurrency exchange BitMEX tweeted on May 15. Following the expected fork at block 582,680, the network purportedly began to experience issues with transactions. BitMEX said that the number of transactions per block was low — 0 in the last 9 blocks starting at block 582,687. Bitcoin cash transaction per block. Source: BitMEX According to data from CoinDance, the greatest number of blocks mined after the upgrade were only processing transactions on Coinbase.…

Bitcoin Touches $8,200, Gold Hits Its Highest Point Since April

Wednesday, May 15 — All of the top 20 coins are in the green after seeing some losses over the past day, with some reporting double-digit gains, according to Coin360. Market visualization by Coin360 The leading digital currency bitcoin (BTC) is up over 4% on the day, trading at $8,135 at press time after reaching above $8,200. Earlier today, bitcoin dropped under the $8,000 price point to trade as low as $7,807. On its weekly chart, bitcoin saw its lowest price point at $5,942 on May 8, while its highest…

Huobi Launches OTC Desk for Institutional Investors

Major global crypto exchange Huobi has launched a regulated over-the-counter (OTC) trading desk for institutional investors, according to a blog post on May 15. The new OTC crypto trading platform, Huobi OTC Desk, is fully regulated by the Gibraltar Financial Services Commission (FSC), and enables major fiat-to-crypto and crypto-to-crypto trading pairs. Unlike the existing Huobi’s OTC retail products, the new OTC trading desk enables a principal OTC trading process under Huobi Technology, Huobi’s regulated OTC trading entity in Gibraltar, while the existing OTC offering on otc.hbg.com enables peer-to-peer (P2P) tradings under…

Tether and Bitfinex Ask New York Attorney General for Fund Accessibility

Attorneys for Tether and Bitfinex are hoping to get the former access to its reserves amid a legal dispute with New York Office of the Attorney General (NYOAG). In a letter sent to the New York County Supreme Court, attorneys representing iFinex (the parent organization of Bitfinex) and Tether took issue with the restrictions that had been placed on Tether’s transactions with related parties as part of an ongoing case against them, stating that the NYOAG had no basis for disallowing tether (USDT) holders and other affiliated entities from redeeming…

Blockstream Releases First Enterprise-Grade Product on Liquid

Security tokens are coming to Bitcoin, courtesy of Blockstream. The Bitcoin and blockchain technology company announced on May 15, 2019, the final day of the Consensus 2019 conference, that Liquid Securities, a platform for issuing and managing security tokens on its Liquid sidechain, is ready to go live. This platform will provide Liquid and its users with its first product to issue digital assets, a foundational milestone for bringing tokenization to the Bitcoin network. Launched in October 2018, the Liquid sidechain is an auxiliary network built on Bitcoin, primarily to…

Reserve CEO Predicts Central Banks Will Tokenize, Still Room for Stablecoins

CEO Nevin Freeman of stablecoin startup Reserve predicts that central banks will tokenize their currency at some point, but stablecoins will likely still have an advantage in offering privacy. Freeman delivered his remarks at the Consensus 2019 panel “The End of Volatility? Stablecoins on the Rise” on May 15. During the panel, moderator Joel Telpner, a partner at Sullivan & Worcester LLP, asked the speakers why banks could not simply tokenize their national currency and drive fiat-backed stablecoin services out of business. Freeman replied that he thinks banks will do…

Japanese Unicorn Liquid Enters Joint Venture as It Eyes US Expansion

Crypto trading platform Liquid has established a joint venture with Virtual Currency Partners in order to enter the United States market, Cointelegraph Japan reported on May 15. The Japanese company, which achieved unicorn status after funding put its valuation at more than $1 billion last month, says the new venture will be known as Liquid Financial USA. In a news release, Liquid added that it hopes to enable U.S. customers to use and trade qash, its native token, subject to approval from regulators. The new venture has already acquired IQX,…