Payment Processor Stripe Is Hiring an Engineer for its Brand New “Crypto” Team

Payment Processor Stripe Is Hiring an Engineer for its Brand New “Crypto” Team

San Francisco-based financial-technology firm Stripe is now hiring for the position of “Staff Engineer, Crypto,” according to the company’s website.

“As the usage of cryptocurrency grows worldwide, it opens up new exciting avenues for businesses and individuals to transact and create value,” writes Stripe in the job description.

With the cryptocurrency space seeing a “growing need” for better building blocks to move funds, accept payments, and exchange between fiat and crypto, Stripe aims to “build faster, more trustworthy, and higher quality crypto-enabled experiences,” it added.

The company created a “brand new” team Crypto and is now looking for a Staff Engineer for this team who will design and build the core components to support crypto use cases and new developments.

The company is looking for someone with experience developing in the cryptocurrency space and will be responsible for laying “the foundation to support and inform Stripe’s crypto strategy.”

Additionally, the person chosen for this role will have to identify and resolve long-term technical challenges that range from blockchain to data storage services and API design to user experience.

The online payment processor notes that it has been supporting the crypto community since 2014 when it contributed to the Stellar Foundation and the same year started accepting Bitcoin.

Founded in 2010, Stripe raised $600 million in March this year at a valuation of $95 billion and currently provides its services in a total of 46 countries.

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Author: AnTy

TIME Now Accepts Crypto as Payment for Subscriptions in the US and Canada

TIME, a global media brand with an audience of 100 million around the world, has announced that it has started accepting cryptocurrency as a form of payment for digital subscriptions.

As was reported previously, the company would be HODLing any BTC that they receive, much like electric car maker Tesla when it announced that they are accepting only BTC as payment soon after investing $1.5 billion in it.

This announcement follows TIME’s recent expansion into the cryptocurrency space after it offered an exclusive series of three TIME covers as NFTs at auction.

“We are thrilled to offer cryptocurrency as a payment option for our digital subscribers for the first time.”

Bharat Krish TIME Chief Technology Officer

Currently, this pay with the crypto feature is only available in the U.S. and Canada. But the company plans to roll up the global access in the next several months.

Those subscribers who pay with crypto will receive unlimited access to content across Time.com for 18 months with their one-time purchase, as well as subscriber-only events and offerings.

TIME will accept crypto through its partnership with the cryptocurrency exchange Crypto.com that will also offer Pay Rewards of up to 10% back for subscribers who pay with CRO, the native coin of the exchange.

“As TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto.com.”

Keith Grossman TIME President

Last month, TIME also opened the position for CFO who has “Comfort with Bitcoin and cryptocurrencies.”

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Author: AnTy

Robinhood Faces Class Action Lawsuit After Blocking WSB Traders from GME, AMC & NOK

It took seven years for Robinhood to develop a trusted brand and it took just one day to destroy that trust.

Earlier today, Robinhood traders were shocked to find they could not trade GME, AMC, and other trendy stocks through their favorite trading app.

Robinhood appeared to block the trading of crowd-favorite stocks like GME. Users were able to sell these stocks without issue, but they were unable to purchase additional shares.

To many, it seemed like a clear issue of price manipulation. Robinhood didn’t like how much money its hedge fund billionaire buddies were losing, so it (and other trading platforms) tried to stop it.

Let’s take a closer look at this story to understand how we got here.

The Story Behind GME, WSB, and Other Trendy Stocks

GameStop (GME) shares have surged to record highs in recent days after unprecedented attention from Reddit’s WallStreetBets (WSB) community.

A few weeks ago, a WSB poster noticed numerous billion-dollar hedge funds had issued huge short-bets against GameStop. Hedge funds had wagered millions that the price of GameStop would drop shortly.

That user decided to fight back, rallying the community to destroy those hedge funds’ short positions.

Nobody expected what happened next.

GameStop stock had gradually grown in value after sitting around $4 throughout 2020. In late 2020, GME stock broke through the $10 mark, surging to $20 in late January.

And then the story went viral. Hedge funds admitted they were facing huge losses because of their ill-timed short bets. WSB users were unrelenting, pouring more money into GME and creating a viral sensation.

By January 14, GME stock was sitting at $40. By January 27, GME surged to $350. At one point on January 28, GME passed $450 per share.

WSB users targeted other stocks, including AMC (for AMC Movie Theaters), BB (for BlackBerry), and NOKI (for Nokia), sending prices of all of these stocks to unprecedented highs.

Some users picked stocks for nostalgia. Others picked stocks for their large short-selling activity. Some picked stocks just because they liked the stock.

Billionaires Fight Back Against GME and WSB

Amidst this unprecedented rise, users were shocked to see some of the biggest tech companies and media platforms rush to defend their billionaire hedge fund buddies.

Media outlets like CNBC and Bloomberg shared “heartbreaking” stories of hedge funds losing millions on their short positions. These media outlets seemed particularly sympathetic towards Melvin Capital and Citron Capital, two of the highest-profile hedge funds that had shorted the trendy stocks.

These media outlets seemed convinced their report would drive users to sell, bursting the bubble and saving their billionaire buddies.

Unfortunately, the opposite occurred: Reddit users noticed that few hedge funds had actually liquidated their positions. So, they decided to buy more.

Users refused to believe the “FUD,” piling more money into GME and pushing the stock even higher.

Robinhood also participated in the defense, appearing to block users from trading GME, AMC, and other trendy stocks.

Approximately 50% of Robinhood users own GME stock. In an instant, Robinhood blocked users from purchasing GME – but allowed users to sell GME. Like CNBC, Robinhood seemed to want markets to crash as users rushed to sell and lock in their gains.

TD Ameritrade and other major trading platforms also appeared to halt the trading of trendy stocks.

Meanwhile, Reddit’s WallStreetBets subreddit temporarily went offline, leading to speculation that Reddit was rising to the defense of hedge funds.

After everything that had happened, it seemed like GME’s legendary rise had come to an end. Corporations and their hedge fund owners had the power to influence markets, block trading, and manipulate trading activity – and they were using this power to protect their corporate overlords.

However, GME stock continued to rise – as did other shares. Even as Robinhood and other platforms appeared to ban trading desperately, WSB was undeterred, continuing to push GME and other stocks to record highs.

Robinhood Faces Class Action Lawsuit

Many users have pointed out the hypocrisy of it all: billionaire hedge funds are freely allowed to trade any stocks they like without consequence, penalty, or halts. They destroyed the economy in 2008 for their own personal gain, faced no consequences, and continue to play their own game by their own rules today.

How can Robinhood and TD Ameritrade ban retail traders from buying stocks they like? How can one company single handedly manipulate markets exclusively to benefit its corporate overlords?

The issue has become so bad that even Ted Cruz and Alexandria Ocasio-Cortez agreed that Robinhood deserved a complete investigation:

Making things look particularly bad for Robinhood is that it’s the leading trading platform for younger investors – many of whom are interested in GME and other trendy stocks.

In fact, it’s estimated that 50% of Robinhood users own at least one GameStop stock.

After users pointed out this hypocrisy, CryptoWhale shared breaking news: Robinhood was facing a class-action lawsuit.

The class-action lawsuit accuses Robinhood of “purposefully, willfully, and knowingly removing the stock “GME” from its trading platform in the midst of an unprecedented stock rise,” depriving retail investors of the ability to invest in the open market. Robinhood’s activity manipulated the open market. The class-action lawsuit was filed in the Southern District of New York.

Some have pointed out the irony of an app named Robinhood protecting its corporate overlords. Robin Hood stole from the rich and gave to the poor – kind of like how GME has stolen from the rich and given to the poor in recent weeks. However, the Robinhood app seems to lack the enthusiasm of its mythological namesake, and that’s why Robinhood is facing a class-action lawsuit.

Hedge Funds Have Lost $70 Billion So Far

There’s good news for people who hate hedge funds and billionaires: hedge funds are genuinely hurting due to GME stock. According to Reuters, hedge funds have lost $70 billion on their short positions in US firms like GameStop in recent weeks. Reuters cited data from Ortex. Ortex data showed that hedge funds had taken loss-making short positions at more than 5,000 US firms in recent weeks.

With GameStop alone, hedge funds have lost $1.03 billion year-to-date. Those shorting Bed, Bath & Beyond lost $600 million. As the price rally continues, losses could reach even higher for hedge funds – especially if retail investors ignore the FUD and keep driving prices up.

What Comes Next?

Robinhood is facing a class-action lawsuit. Other class-action lawsuits could be filed against TD Ameritrade and other trading platforms that have blocked activity.

The good news for people who hate hedge funds is that they appeared to have lost big. Some hedge funds will go bankrupt because of this issue.

Is a trading platform allowed to singlehandedly halt the trading of stocks it decides users shouldn’t buy? Should billionaire hedge funds have such complete control of the media that they can manipulate stock prices with a single interview?

These are all good questions – and they’re all good reasons to buy Bitcoin.

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Author: Andrew Tuts

VeChain Partners with Fashion Brand H&M to Use Blockchain for Supply Chain Traceability

H&M, a fashion and clothing brand has partnered with VeChain to bring Blockchain traceability to manage its supply chain and offer more data to the customer on the products they are purchasing. Cos, a high end subsidiary of H&M has reportedly incorporated the blockchain system in their supply chain.

The official announcement has not been made public on the use of the VeChain blockchain as of yet, but the primary investor is already discussing various fields where the two companies can collaborate and expand their partnership.

The news came into the public domain during an Ask Me Anything (AMA) by Sunny Lu, the chief executive officer at VeChain, During an AMA Blockchain-based Supply chain management firm announced “more than 4,000 sustainability products were traced” using ‘MyStory’ —traceability platform for the new partnership.

Uncle Cat Found that H&M’s Luxury Brand Cos is Likely Using VeChain Powered MyStory Platform

This revelation by the VeChian CEO gave rise to the speculations about their partnership with H&M as the clothing brand in the past have utilized VeChain’s infrastructure for verifying organic manufacturing for its subsidiary Arket’s apparel back in 2018.

Soon after doing the math and realizing that H&M is likely the clothing brand partner, the Chinese media platform Uncle Cat found that H&M’s luxury sub-brand Cos is the new partner after they found one of their Jumper with MyStory tag.

VeChain Partnership with H&M’s Subsidiary Cos Likely to Expand Further

The partnership was later confirmed by an investment and blockchain firm, CREAM, which is considered as a driving force behind VeChain. CREAM released a blog confirming Cos is using VeChain’s blockchain tool and also revealed that the partnership is likely to expand further and can be utilized to bring blockchain traceability of Cos second-hand marketplace called “Resell”.

The partnership could see creation of a non-fungible token which will be tagged with each product and offered to the original buyer at the time of sale. This token could act as proof of originality in the second-hand market.

Under the partnership, VeChain would enhance the value of the premium clothing products offered by Cos, the technology would prove the authenticity of the products purchased by the customers and also reveal the sustainability of the raw products to the customers. Cos sustainable products must contain at least 50% sustainable fiber which the company claims is the minimum amount and the actual product would contain a much higher percentage of the fabric.

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Author: Rebecca Asseh

New Trezor Wallet Phishing Website Surfaces, tlezor.io, to Steal Users Private Keys

A new phishing website, tlezor.io has surfaced that’s imitating the Trezor brand. The website intends to steal the user’s recovery seed which would give scammers control over the user’s funds tied to their Trezor device.

The newest phishing site is one of many that have surfaced over the last couple of weeks. The websites looks like a near-identical clone to the original to and have the same features and functionality.

To make sure you are visiting the correct addresses for Ledger, ensure that the address bar shows ledger.com. For Trezor, the actual site’s address is trezor.io.

Below are some examples of the phishing domains:

  • Leedger.io
  • Ledger.co
  • Tlezor.io
  • Trenor.ml

As Bitcoin Exchange Guide reported earlier this week, scammers are serving up Google ads to direct people to these domains. The scammers will be paid each time a user clicks on the ad, and it’s uncertain how many people have clicked or otherwise fallen victim to this newest scam.

Some users on Twitter have been quick to point out that these domains are being used by scammers and have let both Ledger and Trezor know of their existence.

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Author: Matthew North

New Balance to Use Cardano Blockchain to Verify the Origins of a Range of Its Products

IOHK has announced a strategic partnership with the global athletic brand New Balance to use the Cardano (ADA) blockchain to authenticate a premium line of training shoes for the company. New Balance is one of the world’s leading brands in athletic footwear. primarily based in Boston Massachusetts, the company underwent a drastic expansion over the past 5 years, doubling its employees to over 8,000 worldwide, with revenue increasing from $2.7bn in 2013 to $4.1bn last year.

The Announcement

Several parasite brands were copying their image and branding. “It provides a lot of things to New Balance that they’re struggling with,” IOHK CEO Charles Hoskinson told Decrypt. “Last year New Balance confiscated around 25 million pairs of fake shoes. Authentication is a very expensive proposition for a bunch of brands’’. What he wanted was to bring to the table only a very better way for them to accommodate but also potentially create a marketplace.

Hoskinson envisages that Cardano will solely not just facilitate and establish provenance; it will also help the companies or manufacturers to spot those who are producing fake products, and are manufacturing merchandise on the side; also produce an efficient secondary marketplace for luxury goods, by authenticating produce, and even produce royalties or fees that return to the original manufacturer.

Blockchain, International Provide Chain, and Medical Insurance

Throughout the last few years, a variety of high-profile firms — like Anheuser Busch InBev and Alibaba — have begun to adapt to make use of blockchain-based systems to contour their everyday operations. As Cointelegraph recently reported, Walmart is using blockchain called VeChain. In respect to VeChain’s blockchain technology allows Walmart to seamlessly deploy its traceability strategy and permit for the large-scale use of this decentralized technology.

Cointelegraph reported that back in March the retail Carrefour has step by step rolled out its new blockchain-powered product, Carrefour Quality Line (CQL) micro-filtered full-fat milk. CQL is touted to ensure customers complete product traceability across the whole supply chain — from farmers to the shop shelves.

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Author: Sritanshu Sinha

Oracle Software Giant Sues Crypto Startup ‘CryptoOracle’ For Trademark Breach

The practice of adding popular brand names to the name of a startup is a method used to attract clients to a business. The blockchain industry has seen this practice several times over with startups adding popular words such as Bitcoin and Blockchain to their names in a bid to lure customers. Some startups even use parts of popular companies’ names for the same purposes.

CryptoOracle has taken to Court

One blockchain startup, CryptoOracle, has been sued by the software giant, Oracle, for cybersquatting and trademark infringement. The lawsuit claims that CryptoOracle LLC used Oracle’s brand name in a bid to ride on the popularity of the software giant. Cybersquatting is the practice of using an internet domain name in bad faith with the intention of profiting from the goodwill built by another brand or trademark.

CryptoOracle was founded by Louis Kerner in 2017. The blockchain startup is a cryptocurrency advisory firm which serves other blockchain startups and entrepreneurs in the industry. The company sells tickets to events they host at which those interested in blockchain businesses can get the information they need and meet with other players in the crypto space.

Oracle is one of the biggest software firms, and it is famously known for the Java software. They also provide a range of services such as database management and cloud services. Oracle hosts many conferences and educational seminars for different software categories and topics.

Before the lawsuit, a cease and desist order had been issued to Kerner and his brand as Oracle sought to settle the matter out of court. CryptoOracle responded with a filled-in trademark application for their brand name. Oracle said that they could not allow the use of their brand name in the defendant’s business.

A request to force CryptoOracle to change its brand name and withdraw the trademark application has been placed before a federal judge. Oracle’s attorney reportedly said that his client might be entitled to the profits CryptoOracle made during the time they’ve been using the name.

Oracle and Blockchain

Oracle has plans to move into the crypto business through its Oracle Blockchain Platform, and this may be another reason behind the lawsuit. If another company with a similar brand name already exists in the crypto space, it might cause confusion among customers because it is easy to mistake one for the other. Such confusion could cost Oracle some business and the software giant is trying to avoid that.

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Author: Ali Raza

Bitcoin Search Interest Triples Up on Kim Kardashian and Donald Trump In 2018

There-Are-More-People-Searching-For-Bitcoin-Than-For-Kim-Kardashian-or-Trump-In-2018

Bitcoin has reached a whole new level of brand awareness last year. A new piece of research made by YouGov on behalf of Coinbase has pointed out that more people looked for Bitcoin than Kim Kardashian or Trump last year. When you remember that the U. S. had elections last year, it is quite a remarkable achievement.

The data shows that 2018 was basically the year of Bitcoin. For the first time ever, new record highs were achieved and now around 58% of the residents of the U. S. have heard of BTC at least once.

Terms related to important events such as “royal wedding” or “election results” were not able to top BTC last year.

Somewhat surprisingly, even now, Bitcoin has more searches than Kim Kardashian by 3:1. This is the person that “broke the internet”, one of the most important celebrities of the country and Bitcoin is giving it a beating. The trend continues to grow, which means that more and more people are interested in the crypto industry.

Bitcoin Continues To Be The Most Recognized Cryptocurrency

According to the study, as we affirmed, 58% of the Americans polled have heard of BTC before. Without a list, however, the number diminishes to 37%, which is still fairly high.

Unsurprisingly, most crypto holders live in rich areas which are known for being tech hubs such as California and New York. New Jersey and Washington also made the list. The people holding the largest amounts of tokens, however, can be found in Delaware, California, Nevada and then the New York state.

The survey also showed that 15% of the people interviewed were intending to buy cryptos sometime in the next six months. Most of them decided to go by the crypto route because they believe that it makes a lot more sense than investing in bonds, stocks and real estate. Real estate, in special, was described as overpriced.

Another important reason is that stocks and bonds can only be bought by accredited investors while cryptos are for everybody. This way, more people are allowed into the financial world, which is often deemed as too far from the population.

However, maybe you should not get too overexcited about how Bitcoin has become famous. Why? Because of what happened in 2017 when the crypto raised a lot in awareness for the first time.

Even the CEO of Bitwise, Hunter Horsely, has admitted that the price of BTC is growing almost too quickly and that investors should be cautious this time because the next crash might be around the corner.

If another bubble is started, it is almost certain that it will eventually burst again and we will see another bear market afterward. Because of this, it is more recommended to let the prices grow more slowly, which will not attract so much speculative investment.

Another important point to note is that YouGov only polled 2,000 people over the internet, which is not a very good number. The survey is very thin. Google searches are hard to manipulate, so they are probably spot on, but we cannot affirm the same about the rest of the survey this time.

All of Today’s Bitcoin Price Analysis, Chart Forecasts and Industry News

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Author: Gabriel Machado