Bitcoin’s Second Moon Landing is Nothing Like the First One: SFOX

The growing consensus among crypto pundits and experts is that this Bitcoin bull run is decidedly different from the one that left so many wide-eyed retail investors who succumbed to FOMO in 2017 out in the cold just months later. Why 2019 is Different Than 2017 Backers say that Bitcoin’s parabolic 2019 ascent is nothing like the 2017 bubble. | Source: TradingView For one thing, it appears retail FOMO has only begun in traces around the periphery. For another, institutional interest plays a prominent driving force at present. This may…

Bitcoin Hits 15-Month High as Naysayers Double Down on ‘Dead Cat Bounce’

Bitcoin (BTC) was holding steady around $10,850 on June 24 after a fresh surge took it above $11,000 for the first time in over a year. Market visualization courtesy of Coin360 Data from Coin360 showed a slight correction kicking in for bitcoin on Monday, markets consolidating gains after a dramatic weekend. BTC/USD had climbed as high as $11,230 in recent days, marking its best performance since early March 2018. The action did not go unnoticed, with mainstream media titles appearing to struggle with explaining the return of a cryptocurrency they…

Square Is Expanding Access to Bitcoin Deposits for Cash App Users

Payments company Square is rolling out bitcoin deposits for its mobile Cash App. The app, available on both Android and iOS, now supports deposits for at least some users, according to Twitter posts by bitcoiners and a check by a CoinDesk reporter of his own Square account Tuesday. Previously, users could purchase or sell bitcoin, as well as transfer the cryptocurrency to another wallet. Square first began allowing select Cash App users to purchase and sell bitcoin in November 2017, announcing a few months later that it would roll that feature…

Outlaw Hacking Group’s Botnet Is Now Spreading a Monero Miner

Cybersecurity company Trend Micro claims to have detected a web address spreading a botnet featuring a monero (XMR) mining component alongside a backdoor. The malware was described on Trend Micro’s official blog on June 13. Per the report, the firm attributes the malware to Outlaw Hacking Group, as the techniques employed are almost the same used in its previous operations. The software in question also holds Distributed Denial of Service (DDoS) capabilities, “allowing the cybercriminals to monetize their botnet through cryptocurrency mining and by offering DDoS-for-hire services.” Trend Micro also…

Europol Arrests Six People Allegedly Behind $27 Million Bitcoin Theft

Europol, in conjunction with the United Kingdom’s South West Regional Cyber Crime Unit, the Dutch police, Eurojust, and the U.K.’s National Crime Agency (NCA), has coordinated the arrests of six people suspected of stealing over $27 million in cryptocurrency, according to a press release on June 25. The attackers reportedly were involved in typosquatting, a fraudulent means to steal credentials by setting up a scam website with a similar name to an established one—hence the “typo” in “typosquatting”—and then recording login data.  In this case, the report notes that Europol…

Ex-Trump Economist Joins ‘Crypto Central Bank’ After Failed Fed Bid

Stephen Moore, who recently rescinded his bid to join the Federal Reserve, announced plans to start his own cryptocurrency-based mini-Fed – billed as “the world’s decentralized central bank,” according to Fox Business. A pitch deck sent exclusively to Fox allegedly said Moore has teamed with a group of unnamed entrepreneurs to develop a “central bank” – ironically called “Decentral” – aimed at reducing the volatility among digital currencies. The bank will attempt to regulate the supply of crypto, just as the Fed controls monetary policy in the U.S. It will…

Republic of Abkhazia Develops Law Draft on Crypto Mining

The Ministry of Economy of the Republic of Abkhazia has developed a law draft on the settlement of cryptocurrency mining activities in the country, local news outlet Sputnik Abkhazia reported on June 24. The press service of the Ministry told Sputnik that the drafted bill was approved and sent to the Cabinet of Ministers of the republic. The proposed regulation defines legal, economic, organizational, and technical rules for the implementation of mining cryptocurrency activities in the republic.  To conduct crypto mining operations, one will have to register as a legal…

US CFTC Approves LedgerX’s Application for Designation As Contract Market

The United States Commodity Futures Trading Commission (CFTC) has approved the application of LedgerX LLC for designation as a contract market, according to an announcement published on June 25. LedgerX — a U.S.-based regulated crypto derivatives and clearing platform — can operate as a designated contract market (DCM) as of June 24, 2019. The company’s activities will be registered under Section 5 of the Commodity Exchange Act (CEA) and Part 38 of the CFTC’s regulations. Registration as a DCM will require that LedgerX maintain compliance with all applicable provisions of…

Kraken Raises Over $13 Million In Its Latest Fundraising Round

San Francisco-based cryptocurrency exchange Kraken has raised over $13 million in financing on online investment platform BnkToTheFuture. Kraken has raised $13.5 million from 2264 investors, surpassing its initial target of $10.2 million purportedly due to popular demand. The fundraising campaign of Kraken — which has over four million clients in nearly 200 countries — is the most successful funding round by individual contributors on BnkToTheFuture. As previously reported, Kraken raised over $6 million in the first day of the campaign from almost 300 investors. On BnkToTheFuture, Kraken describes itself as…

Bitcoin’s Price Rises Above €10K in First Since January 2018

Bitcoin’s price topped €10,000 on Tuesday, hitting its highest level (in euro-denominated terms) in 17 months. The cryptocurrency rose to €10,024 at 13:10 UTC today – a level last seen on Jan. 21, 2018 – according to CoinDesk’s Bitcoin Price Index, as prices refreshed 15-month highs in US dollar terms with a move above $11,400. As of writing, BTC’s EUR-denominated exchange rate (BTC/EUR) is trading at €9,939.40, representing 2.75 percent gains on the day. On a month-to-date basis, BTC/EUR is up about 28.7 percent, while BTC/USD is flashing a 31.2…