OKEx’s OK Group to Open a New Digital Asset Trading Lab in ‘China’s Hawaii’

The administrator of the famous cryptocurrency exchange OKEx, the OK Group, has decided to set up a new digital asset trading lab, which will be located on Hainan Island, in China. The lab is set to help in the research and development (R&D) of the company’s new blockchain products.

According to the official announcement, the new lab will be based in Sanya, one of the cities on Hainan Island and it will be located in the International Offshore and Entrepreneurship Demonstration Zone of the region.

The OK Group was originally created in Beijing back in 2013 and it has always focused on developing for the blockchain technology. The group has branches in several countries in Asia, Europe and the United States. Now, the group follows Huobi, one of its main rivals, to operate in this new zone.

Star Xu, the founder of the blockchain group, has affirmed that the new region offers “broad prospects” for the market and that it would be important to help the company and Hainan alike. Hainan is currently trying to transform the island, known as a resort location, in a leader in the digital field. The new lab could help with that.

The change started when China designed the island as its 12th free trade zone. These areas have the goal of luring investors and promising fewer restrictions to do business there. With fewer restrictions, the idea can seem appealing to the investors behind the OK Group.

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Author: Gabriel Machado

Verizon, AT&T and T-Mobile Had Arbitrations Filed by Crypto Legal Firm Silver Miller on SIM Swapping

The legal firm Silver Miller, famous for taking on lawsuits in the crypto world, is also taking the SIM swapping cases that have led to major cryptocurrency losses. The complaints are made against three of the most important phone operators in US, which are Verizon, AT&T, and T-Mobile.

Mobile Operators Broke Their Own Security Policies

Silver Miller has recently made a statement in which it says that it’s responding to SIM identity claims accusations and solving many of the claims. Their research has discovered that even if the mobile operators have reassured their clients that their services are secure, these companies still have broken their own security policies and eased the process of SIM swapping.

SIM Swapping Has Been Syphoning Funds in the Crypto World

Since people are mostly using their mobile phones as 2FA tools, it’s very easy for someone to access their personal banking details or to make account exchanges. SIM swapping has been siphoning funds from many crypto holders in the last few years, and especially before the discovery of new tools for authentication. Silver Miller has been conducting research and discovered that mobile companies not only overlooked their own security procedures, they also encouraged criminal circles to hack their clients’ SIM cards.

In order to rectify the cases, the law firm has decided upon private arbitration and not public litigation. More than this, the identity of their clients is going to be protected. Silver Miller is also inviting people whose SIM has been hacked, especially if they have been promised increased security by their mobile operator, to take on legal actions as there’s a high chance for arbitration and to obtain the desired results without having to go through a trial.

Crypto Users the Most Hit by SIM Swapping

Those who are involved in the crypto space have been the most attacked when it comes to SIM swapping. Only recently, there was a case in which crypto assets valued at $550,000 have been stolen and for which two men were charged. Eric Meiggs from Brockton, Massachusetts, together with Declan Harrington from Rockport, Massachusetts, both in their very early twenties, have been charged with wire and computer fraud, identity theft and conspiracy, after they have targeted and attacked 10 identified victims on US territory.

Those with Prominent Social Media Presences the Most Targeted

Crypto users who have a prominent social media presence are at higher risk, also influencers in the crypto world and those who have a whale wallet. SIM swapping can’t directly affect wallets, yet it can empty accounts and wallets held by a third party. Exchanges are also at high risk, since they have about 6.7% of the Bitcoin (BTC) supply, not to mention there are markets holding smaller altcoins.

Kaspersky Labs, the firm specialized in cybersecurity has noted that SIM swapping has increased and ended up being the main type of attack in the crypto world. Silver Miller is trying to make things right for the ones who have already been the victims of such an attack, by bringing more evidence against mobile operators and being by the side of those who have been hacked.

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Author: Oana Ularu

Winklevoss: Bitcoin Is More Than Digital Gold, BTC is a Source of Truth with Boundless Possibilities

Cameron Winklevoss, one of the famous Winklevoss’ twins, has recently talked about the potential of Bitcoin. According to him, BTC is far more than just digital gold. It is open-source software with almost limitless possibilities, in his opinion.

To him, being digital gold is just the beginning. The argument is that there is a lot more to go forward than just a simple analogy with gold because BTC is also scarce. Most people make this comparison at first, but there is a lot more than that.

With immutable decentralized transactions, anonymity, and security, Bitcoin was said to be “a shared single source of truth”. This is a term is used in the information systems area and it means something that can give a complete picture of the data. The technology that underlies BTC is the foundation of something huge and important, if we are to believe Cameron.

Another important aspect is that its integrity and scarcity are also important to protect Bitcoin from issues that gold faces today, such as forgery. This year, there were several reports of people scammed by forgeries of gold, around 1,000 kilograms of fake gold bars were found even with major banks such as JPMorgan Chase.

Bitcoin would never have the problem, as there is simply no way to forge it. This kind of security will be important in the coming days and it is one of the main reasons why people believe that Bitcoin is one of the biggest inventions in recent history.

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Author: Gabriel Machado

New Lightnite (Fortnite-Inspired) by Satoshis Games Uses Bitcoin’s Lightning Network for Payments

You may have heard of Fortnite. It is the most famous video game in the world right now, so it is not surprising that people are starting to apply the blockchain technology to it.

Satoshis Games has recently announced that it is developing a new game called Lightnite, which is said to be similar to Fortnite but using the Bitcoin Lightning Network for microtransactions.

According to the game’s announcement, the main idea of the game is that you earn Bitcoin by shooting someone and lose it by getting shot. This means that each interaction in the game either makes you lose money or gain it all the time.

Obviously, the best way to deal with so many microtransactions is to use the Lightning Network. The network allows transactions as low as $0.00008 USD without clogging the network, so it is ideal for this kind of game.

It was also announced that some items in the game will have a value in BTC that you can pay for with coins you pick up from a dead player. You can use BTC to buy items from the store. The balances of the players will be updated all the time.

Fortunately, the game will have two modes. One of them is as described and the other one is set to be Bitcoin-less mode, in which non-Bitcoin users can also play without losing or gaining any money whatsoever.

According to the company, the game will be released on all major platforms such as Steam and Itch.io, but also on Elixir, a new game distribution platform by Satoshis Games.

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Author: Hank Klinger

CoinMarketCap Starts Posting Interest Rate Data on CryptoAssets with New ‘Interest by CMC’ Feature

The famous data provider CoinMarketCap has just launched a new section on its site, which was created to list the current interest rates that are being offered on some cryptocurrencies by lenders. This, the company believes, would help the prospective traders to compare prices and choose products better.

This new section is named ‘Interest’ and it was launched starting with 33 cryptocurrencies. Covering information on several major platforms that work with lending. They include Binance, BlockFi and the Celsius Network. By using the new page, users can find annualized interest rates on these platforms for several different kinds of cryptos.

According to CMC, the new listing was in development for about a month and a half. Carylyne Chan, the Chief Strategy Officer of the company, was interviewed by The Block Crypto and said that the team had done a lot of research before making the new section live to viewers. She said that the researchers looked up interest rates and futures prospects for the industry and more.

Chan affirmed that it is important for traders to know the full scope of the lending market in order to make an informed decision. According to her, the lending sector is worth over $5 billion USD right now and plenty of traders use it for margin trading, hedging, and other financial investments.

Another important point is that no fees are being charged by the lenders to be listed on the page. They were simply determined to be the most popular companies in the sector and this is why they were listed, not because they paid to.

All monetization efforts will eventually be made via ads, just as it happens with the rest of the site. This way, ads are much easier to detect and do not influence the main activity of the site.

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Author: Gabriel Machado

Ethereum-Centric ConsenSys Buys Infura, an ETH Infrastructure Provider

The famous Ethereum (ETH) venture production studio and accelerator ConsenSys has recently announced a new acquisition. Now, the company bought Infura, a blockchain company that is focused on developing solutions that can improve the infrastructure of the Ethereum network.

According to a recent post made by Infura, the operations of the company will continue as usual under the leadership of the new management. Joseph Lubin, one of the co-founders of both Etheruem and ConsenSys, was an early investor of Infura and both studios had a very close relationship prior to the acquisition.

The goal of Infura is to provide Ethereum-based solutions for developers who are interested in creating decentralized solutions for Ethereum. This way, the company allows them to deploy crypto solutions without necessarily having to host a full node, something that can be expensive in some cases.

One of the main services that are offered by the company is Infura+. The service, which is paid with a subscription, enables the developers to remotely use the infrastructure provided by the company.

The service is not without its own controversies, however. Delphi Digital, a research company focused on crypto solutions, has recently published a report in which it accused the solution of the company of being too centralized.

According to the reports, the developers who used the infrastructure were failing to see that it would create a single point of failure because the service was operated only by the company, which is the opposite of what the decentralization is. This way, they could be open to more issues than other more decentralized solutions.

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Author: Gabriel Machado

Binance US Has More Liquidity Than Gemini In Only 9 Days

Binance US, the U. S. based version of the most famous crypto exchange in the world, had a great launch. According to data cited by the CEO of Binance, Changpeng Zhao, the American branch of the company saw its liquidity triple in a single week. In fact, the company is said to have more liquidity than the Gemini Exchange at this point, which is certainly surprising.

Despite the very high levels of liquidity, the trading volume of the exchange is obviously still not very high. The platform came out not even two weeks ago, so it’ll obviously take time until there are enough traders to take on the big exchanges of the market.

When compared to Gemini, Binance US has a daily volume of $2 million against $16 million USD from the exchange created by the Winklevoss Twins.

The comparison shows how far Binance US is when you compare it Coinbase Pro, the institutional version of Coinbase. During a single day, Coinbase Pro has a volume of $152 million USD. The international version of Binance, however, is able to be even more successful, with a daily volume of $740 million USD.

Right now, Binance US has 28 trading pairs. Some of them are based on USD while others are paired against Bitcoin or USDT (Tether).

The company offers Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Stellar Lumens (XLM), Binance Coin (BNB), Ripple (XRP) and Tether (USDT) as choices. The CEO of the company recently affirmed that more assets would be launched soon.

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Author: Gabriel Machado

Blockchain Wallet Provider is Experiencing Top Executive Personnel Departures

It looks like Blockchain, the famous crypto wallet and service provider, is experiencing an executive exodus right now. According to recent reports made by The Information, two of the main execs of the firm are about to leave.

Liana Douillet Guzmán (COO) and Chris Lavery (executive VP of Finance) are both expected to leave the company soon. The two are among the executives who served in the company for the longest time as Guzmán entered the company in 2016 and Lavery joined early in 2017.

They are not the only ones leaving, though. Earlier this year, the company fired around 15% of its staff. Not a very good sign.

The exodus might be a new event at the company, but executives leaving are nothing new. According to The Information, five important execs left Blockchain in a period of 12 months after they were hired. Most of them left between the end of last year and the beginning of this one.

Among the executives who left earlier, held important roles such as the head of institutional sales, a general manager and a global head of security.

Why are all these people leaving? Maybe because the company was going through various struggles. The hardware wallet, that was launched last year was considered a commercial failure and the Stellar airdrop program was unsuccessful as well.

Blockchain was created in 2011, just a couple of years after Bitcoin. The company is one of the giants of the market and has received backing from investors such as Digital Currency Group, Google Ventures and Roger Ver.

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Author: Silvia A

Kate Winslett Addresses Bitcoin Code Scam Claiming Her Endorsement

Being famous has its advantages, but it certainly has its own problems as well. The famous actress Kate Winslett, for instance, has been suffering from one of these problems. She was recently impersonated in a crypto scam to lead people to believe that she got money from buying BTC from them.

A crypto trading program called Bitcoin Code, which is said to always trade with 99.4% accuracy, used her image for marketing.

The actress categorically denies this and affirmed that she has no relationship at all with the fake platform. According to her recent interview with The Mirror, the whole thing was “categorically false”.

The scammers used her face to prompt people into investing at least $250 USD in the scam that promised to let them become rich quickly. While the site is a clear scam, it is possible that it could fool people who are not savvy about how the crypto market works. Winslett affirmed that she would deal with the criminals “via the appropriate channels”.

Other people are also featured on the page. Some of them are also famous people while others are fake people such as “Steve McKey”, which is said to be a CEO who made millions quickly. His image, however, belongs to a person with another name.

Unfortunately, this kind of scam continues to proliferate despite all the effort from the authorities that they are shut down. It is easy to create a fake site and go to Twitter to tell people that Elon Musk or a famous actress wants to give them money and, unfortunately, it works sometimes.

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Author: John Isige

Crypto Influencer Predicts Bitcoin Price to Be $25,000, Ethereum Back At $1,000 USD by 2020

This Wednesday, William Mouyagar, a crypto influencer and author of the famous book “The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology” laid out his forecast on top coins on Blockchain.

Some of the cryptocurrencies that appeared on the influencer’s list include Ethereum, Bitcoin, Binance Coin, and Ethereum Classic among other top currencies. However, the investor left out XRP coin and left people wondering on the outcome of its price.

Recently the price of Bitcoin went below the $10,000 mark, and investors are beginning to get worried. Many still have high hopes and remain optimistic in the market. In fact, for the Bitcoin enthusiasts, this may be good news for them as Mr. Mouyagar predicts that the ‘digital gold’ will get to $25,000 when 2019 comes to a close.

Coins to Surge more than Twice the Current Price

William made predictions on several top ten coins and how some would double from the current price when the year ends. He forecasted as follows:

BTC @ $25,000

ETH @ $1,000

ATOM @ $20

ETC @ $50

BNB @ $50

EOS @ $7

DOT @ $250

KIN @ $.0001

XTZ @ $2

STX @ $1.50

STEEM @ $.50

Mouyagar anticipates that the total capital in the crypto market will be at $750 billion by end year. Many investors, however, believe that Bitcoin’s dominance in the market will drop to 55 percent from the current 67.3 percent.

William Displeases XRP fans

The huge BTC investor did not say a word on the XRP coin price. This shocked a lot of XRP enthusiasts as this is the third-largest crypto on the top list of digital coins. Significant milestones have been achieved by the XRP like working with CoinMe ATM chain.

So he was asked on why he was ignoring such an asset, and his reply was straightforward. Mouyagar said that he did not have insights on the asset and therefore, he saw it wise not to shoot in the dark.

Most of the analysts with a big following on twitter were asked on the legitimacy of the forecasts. They said that those prices were doubtful, but it is possible as cryptos are very volatile.

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Author: Daniel W