Bitcoin Erupts Past $10,000 After Consolidation: $90 Million Liquidated on BitMEX

Bitcoin has finally done it. Minutes ago, the asset rocketed past $10,000 for the first time in weeks, reaching as high as $10,250 in a massive surge upward. This was a more than 7% jump from where the cryptocurrency was trading prior to the move. Traders were largely unaware that this move was going to happen. As a result, data from Skew.com shows that more than $80 million worth of short positions were liquidated on BitMEX alone. These shorts were liquidated within the span of an hour, and these numbers…

Satoshi Nakamoto Had Outside Cryptography Help, Says Early Bitcoin Dev

According to an early Bitcoin (BTC) developer, Satoshi Nakamoto sought help from outside cryptographers prior to launching Bitcoin. Laszlo Hanyecz, who worked closely with Satsohi in 2010, told Cointelegraph that he was befuddled by Satoshi’s choice of the elliptic curve secp256k1. The use of this curve, at the time, was unusual. National Institute of Standards and Technology (NIST) curves were much more common. Many Bitcoin enthusiasts over the years have been speculating as to whether this is luck or genius, as the curve chosen by Satoshi is more efficient and…

Mining Hardware Maker Canaan Looks to Issue $12.4M in Stock to Employees

Cryptocurrency mining application specific integrated circuit (ASIC) producer Canaan filed with the U.S. Securities and Exchange Commission (SEC) to issue around $12.4 million worth of shares to its employees. According to the S-8 form, filed with the SEC on May 27, Canaan is looking to issue nearly $12.4 million of class A ordinary shares with a maximum offering price of $0.24 per share. As Cointelegraph reported in late November 2019, Canaan raised $90 million by selling 10,000,000 shares for $9 each in its initial public offering (IPO). According to Google…

Ledger CTO Explains Why Smartphones Won’t Ever Be Fully Safe for Using Crypto

Cointelegraph interviewed the CTO of Ledger, Charles Guillemet, to learn more about the best practices in securing cryptocurrencies for average users. Ledger is a major producer of hardware wallets, which store cryptocurrency seeds on a dedicated device. As Guillemet explained, hardware wallets protect against possible malware on the user’s computer or mobile device. Both storage and transaction signing are performed on the wallet, which makes sure that the seed is never seen by the device it’s connected to. Ledger uses a chip based on Secure Element technology, which he says…

Protestors Invoke Bitcoin in the Wake of George Floyd’s Death

The United States is witnessing its biggest protests in years following the death of George Floyd at the hands of a police officer in Minneapolis. Some compare it to those after the murder of Martin Luther King Jr. in 1968. The community crypto has chimed in on the situation. Crypto sphere personalities like Binance’s CEO Changpang Zhao reacted via Twitter after six days of massive protests: “#Bitcoin is the peaceful protest” Ripple’s CEO Brad Garlinghouse also reacted via Twitter to the protests, stating that he stands in solidarity “with all…

Hacker Steals Database of the Largest Hosting Provider on the Dark Web

Reports emerged on May 31 about a hacker that stole and leaked the database of Daniel’s Hosting (DH), the largest free web hosting provider in the darknet, and the home of several crypto-related forums and stores. The hacker —under the pseudonym “KingNull”— also claims to be part of the Anonymous collective and reportedly got the information after the second hacking suffered by DH on March 10, which resulted in 7,600 dark websites taken down. The fact forced the hosting provider to shut down its service and urged the users to…

Cash or Plastic? Countries Where Crypto Debit Cards Are Fair Game

As a sector, plastic cryptocurrency cards have had a bumpy ride. While for some they are the perfect way to spend those hard-stacked sats, it has evidently been a struggle for crypto companies to provide such a service. Wracked by regulation, supplier issues and the volatility of digital assets, crypto debit cards have had a rough start. Nonetheless, crypto debit card use is growing and is considered an important development for the growth in the adoption of crypto around the world. So, in which countries are most of the crypto…

Binance Korea to Integrate Coinfirm Real-Time AML Monitoring

Binance Korea will be monitoring activity on its platform for signs of money laundering thanks to a solution developed by Coinfirm. The partnership, announced on June 1, will help Binance’s Korea branch remain compliant with Anti-Money Laundering (AML) regulations resulting from the Financial  Action Task Force’s (FATF) Travel Rule. Coinfirm provides a blockchain-agnostic AML platform offered to various institutions dealing with cryptocurrencies. Their previous clients include European banks, blockchain projects like XRP and RSK, custodians like Xapo, and the government of Gibraltar. As Cointelegraph previously reported, Binance already integrated Coinfirm’s…

Twitter’s Bitcoin Sentiment Suggests a Price Breakout is Imminent: Here’s Why

Some of the top altcoins by market capitalization, such as Ethereum, have been posting significant gains lately. Meanwhile, Bitcoin remains stagnant within a narrow trading range. The flagship cryptocurrency is consolidating between $8,800 and $10,080 since late April without giving any clear signs of where it is headed next. One of the most prominent analysts in the industry maintains that Bitcoin’s inability to move past the $10,000 resistance level adds credence to a sudden bearish impulse that could see it plummet to $6,300. Nonetheless, others believe that the pioneer cryptocurrency…