Crypto Guides, Knowledge & Insights

Coinbase goes live in Japan in partnership with banking giant MUFG

Coinbase, the top crypto exchange in the U.S. has announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group (MUFG).　　The firm led by CEO Brian Armstrong announced on Aug. 19 that it will first launch retail trading products including “a suite of five top assets based on trading volume,” with more assets and products to be listed in the coming months.　　“We also plan to introduce more localized versions of globally popular services such as advanced trading, Coinbase for Institutions, and more in the future,”　　The partnership with Tokyo-based MUFG will see the bank provide a fast fiat on-and-off ramp for Coinbase customers in Japan called MUFG Quick Deposit.　　“In line with our global strategy, we will aim to be the easiest to use and most trusted exchange in Japan thats fully compliant with local regulations.” the announcement read.　　Coinbase has had its eye on the Japanese market for a while now, with Cointelegraph reporting in October 2019 that the firm was seeking licensing approval from Japans financial regulator the Financial Services Authority (FSA).　　In March 2020 the firm also registered as a crypto exchange with FSA-approved and official self-regulatory organization the Japan Virtual Currency Exchange Association (JVCEA).　　Cointelegraph reported earlier

2021-08-19Deep Dive

Liquid exchange hacked to the tune of $80 million

Japanese exchange Liquid has been hacked with about $80 million in digital assets moved off the platform.　　The exchange confirmed the security breach in an August 19 tweet, with Liquid revealing the wallet addresses implicated in the breach. The exchange noted that only its warm wallets were affected, adding that its assets are currently being moved into cold storage.　　Withdrawals and deposits have been suspended on Liquid, with the exchange promising to provide regular updates as its investigations unfold.　　While Liquid is yet to confirm exactly how much has been taken, Cointelegraph has identified that more than 107 BTC, 9,000,000 TRX, 11,000,000 XRP, and almost $60 million worth of ETH and ERC-20 tokens appear to have been taken by the hackers.　　There are unconfirmed reports that the Ethereum wallet compromised held deposits from crypto yield provider Celsius Network. In April, Celsius announced that it had integrated with Liquid to offer the exchanges customers a compounding return on digital asset purchases.　　The announcement noted that Liquid became one of the first fiat-to-cryptocurrency exchanges to support Celsiuss native CEL token in 2019, stating that the two firms “have continued to grow their partnership” since.　　Another exchange, KuCoin, promptly responded to the hack by blacklisting the addresses involved in

2021-08-19Deep Dive

Can Hinman’s Comments on XRP Jeopardize Ripple’s Position Against SEC?

The SEC vs Ripple lawsuit took an interesting turn on Tuesday after a few portions of Hinaman‘s deposition was made public. The deposition documents revealed that Hinman had warned Ripple of XRP’s security status and also asked to stop its sales. This revelation comes as a major blow for defendants in the case who until now seemed to have an upper hand with the deposition.　　Ripple wanted to use Hinman‘s comment about Ethereum losing its security status overtime in their favor to prove XRP has grown similarly, but the deposition proved otherwise. The document revealed Hinman’s response as,　　Frankly, the one I recall the most clearly is probably the one when XRP came in with a person who had my position before me, as well as enforcement counsel. They were interested in is there a way to restructure what we‘re doing to bring it within compliance with the securities laws, and the first thing I said to them as you’re continuing to offer XRP without any kind of restrictions that would apply as a securities offering.　　If you want to come into compliance you have to stop doing that, and they understood that.　　Will Ripple Go For Settlement Now？　　The hype around the deposition of

2021-08-19Deep Dive

‘Bitcoin Has No Real Use Case’: Federal Reserve Bank of Minneapolis President Trashes Crypto Market

Bitcoin has no real use case according to the Minneapolis Federal Reserve Bank President Neel Kashkari. Speaking at the Pacific Northwest Economic Regional Annual Summit in Big Sky in Montana, Kashkari said crypto is 95% fraud, hype, and confusion.　　“I was more optimistic about crypto and bitcoin five or six years ago. So far what Ive seen is … 95% fraud, hype, noise, and confusion.”　　He was giving his own opinion on the status of the digital economy, following what Miami has been doing with Bitcoin, and now the ‘Miami coin’.　　According to the central banker, it is easy for anyone to create a coin, probably referring to a lack of control in the industry. He said most of the “garbage coins” created are fraudulent Ponzi schemes. Neel added that the creators dupe people to invest after which they defraud them.　　“There is no barrier to creating your Bitcoin, or me creating my own … I‘ll call it Neelcoin let me call it Neel’s Bitcoin,…and then Larry can create Larrycoin.”　　Last month, he directly referred to Dogecoin as a Ponzi scheme and earlier this year praised the Securities and Exchange Commission for cracking down on initial coin offerings.　　Neel said he has talked to different people

2021-08-19Deep Dive

Worldwide Crypto Adoption Jumps Over 2300% Since 2019: Chainalysis

New York-based blockchain data analytics platform Chainalysis revealed on Wednesday that global cryptocurrency adoption has skyrocketed worldwide. Residents from more and more countries are diving deeper into the crypto space and integration digital assets usage in their day-to-day life.　　The Chainalysis Global Crypto Adoption Index appears as an effort to measure cryptocurrency adoption from the grassroots. Per the company, the adoption of digital assets has surged over 880% in the past year and peer-to-peer (P2P) platforms in emerging economies are speculated to be the propelling force.　　Crypto Adoption Surges as China and U.S. Dip in Global Adoption Rankings　　Cryptocurrency adoption has massively surged over the past few years. Several emerging economies have come forth and adopted digital assets in some way or other, which reflects that cryptocurrency has gradually become a global phenomenon.　　The Chainalysis report highlights that global adoption has risen by 2300% since Q3 2019 and over 881% in the last year. At the end of the second quarter in 2020, the adoption stood at 2.5% and surged to 24% by the end of Q2 2021. The major reasons for this adoption surge are — people starting to treat crypto as a store of value. They send, receive and carry out business

2021-08-19Deep Dive

Boleh Beli Tesla Pakai Dogecoin (DOGE) ?

Perkembangan terbaharu ini didedahkan oleh firma teknologi blockchain global, Bots Inc pada lewat petang Isnin waktu tempatan di laman web rasminya.　　Untuk pengetahuan, Bots Inc atau BTZI merupakan sebuah firma penyedia penyelesaian berasaskan blockchain dan telah terlibat dalam pelbagai sektor termasuk industri kewangan, penyelesaian sekuriti siber, perlombongan kripto, dan insurans.　　Kali ini mereka telah mengambil langkah drastik dengan membenarkan pengedar kereta tempatan untuk menerima matawang kripto termasuk DOGE bagi setiap pembelian kereta Tesla terpakai.　　Keputusan tersebut juga dipersetujui oleh pengasas Tesla, Elon Musk dan pemilik pasukan bola keranjang Dallas Maverick, Mark Cuban.　　Secara tidak langsung, Bots Inc kini menjadi firma perdagangan pertama yang menerima DOGE sebagai medium pembayaran.　　Kereta terpakai Tesla masih mempunyai nilai terutama Tesla Model 3 ekoran jumlahnya yang terhad di pasaran. Disebabkan itu, peminat yang ingin mendapatkan model tersebut perlu berbelanja lebih berbanding model lain.　　Mungkin berita ini menunjukkan harapan baik untuk syarikat Tesla menjadi firma seterusnya yang menerima Dogecoin, selain Bitcoin (BTC).

2021-08-19Deep Dive

Binance Recruits Former IRS Investigator To Oversee Anti-Money Laundering Efforts

Binance crypto exchange is taking further steps in its attempts to take the edge off the increased regulatory scrutiny by hiring a former Inland Revenue Service (IRS) investigator and cybercrime guru to lead its anti-money laundering requirements.　　Binance Adds Greg Monahan To Its Compliance Team　　In a Wednesday press release, Binance announced that Greg Monahan will be joining the exchange as the new global money laundering reporting officer (GMLRO).　　Monahan brings 30 years of experience working for the United States Treasury as a key member of the IRSs criminal investigation unit. During his tenure, he oversaw several cybercrimes, money laundering, terrorist, tax, and other related financial crime investigations.　　Monahan will be taking over from Karen Leong, who has been holding the position since 2018. Leong will, however, remain at Binance as the Director of Compliance to further build stronger relationships with regulators and law enforcers globally.　　“My efforts will be focused on expanding Binance‘s international anti-money laundering and investigation programs, as well as strengthening the organization’s relationships with regulatory and law enforcement bodies worldwide,” Monaham stated.　　Binance CEO Changpeng Zhao posited that the exchange has always aimed to safeguard users interests and is thus “expanding our capabilities to make Binance and the wider industry a safe

2021-08-19Deep Dive

Vitalik Buterin & Wakil Elon Musk Sertai Dogecoin Foundation!

Kali ini mereka tampil dengan tujuan untuk menyokong komuniti dan projek utama yang akan memberi manfaat kepada pertumbuhan blockchain Dogecoin (DOGE).　　Menariknya, lembaga penasihat terbarunya terdiri daripada:　　Pengasas Ethereum, Vitalik Buterin　　Pengasas Tesla, Elon Musk yang diwakili oleh CEO Neuralink, Jared Birchall　　Pengasas bersama Dogecoin, Billy Markus　　Pembangun teras Dogecoin, Max Keller　　Kemunculan terbaharu ini tidak melibatkan sebarang rombakan besar. Sebaliknya, mereka merancang untuk melantik staf sepenuh masa, termasuk jurutera.　　Dogecoin Foundation ditubuhkan pada 2014, beberapa bulan selepas pengasasnya, Jackson Palmer mengumumkan projek tersebut di Twitter. Pertubuhan ini juga terlibat dengan banyak sumbangan amal dalam sektor kripto.　　Bagaimanapun, selepas beberapa pengasas bersamanya: Ben Doernberg dan Eric Nakagawa meninggalkan Dogecoin, pertubuhan ini terus menyepi.

2021-08-19Deep Dive

Bybit Becomes Esports Team NAVI's Official Crypto Platform for 3 Years

Crypto exchange Bybit has entered a multi-year partnership with esports team NAVI, with the exchange saying that this “marks the beginning of its foray into esports collaborations.”　　The deal is a perfect match, say the new partners, as both industries showed “transformative power” in a short amount of time.　　“I believe that this was bound to happen,” said Alexander Pavlenko, CMO of NAVI. “Cryptocurrency and esports have much in common: They are new, fast-growing and interesting to keep watch and learn. We [...] want to represent the esports world to cryptocurrency enthusiasts as a point of their interest.”　　Per the deal, the Bybit logo will be placed on NAVIs jerseys, said the press release, adding that the partnership involves collaborations on charity initiatives, school and student projects, and anti-hate/anti-bullying campaigns.　　Bybit will gain greater visibility in the fast-growing demographics in sports and gaming, while the esports community will be introduced to “the endless possibilities” crypto could offer them.　　Therefore, the sponsorship will feature financial education resources for those gamers who seek to diversify and invest in digital currencies, said Bybit.　　“The sponsorship will put the Bybit name on the map in the esports space in a symbolic move to bring closer two creative communities that are

2021-08-19Deep Dive

Dogecoin (DOGE) gets serious by bringing on Vitalik Buterin to its Foundation

Dogecoin may have started out as a joke poking fun at an industry that takes itself way too seriously. But 2021 has seen it morph into something quite serious.　　In part, this was driven by the dizzy heights it managed to reach in early May, when, for a brief moment, its near $90 billion market cap made it more valuable than established legacy giants including British American Tobacco and General Motors.　　But DOGE is currently down 60% from then, and at the height of the recent market dip, lost as much as 78% of its value.　　Nonetheless, in a bid to recapture its glory days, the newly established Dogecoin team, which consists of a mixture of old and new faces, including co-founder Billy Markus, is resurrecting the Dogecoin Foundation.　　Whats more, in a show of ambition for what they hope to achieve, Ethereum co-founder Vitalik Buterin joins as a board advisor.What does the Dogecoin Foundation hope to achieve？　　An often-used criticism of Dogecoin is the lack of formal organization it has, including a poorly resourced development setup.　　Input-Output Global CEO Charles Hoskinson, although highly critical of the meme token in the past, calling it a bubble that would likely trigger tough legislation once it pops, more

2021-08-19Deep Dive

...

488490

...

737