News of the Week

Winklevoss Twins on Bitcoin: ‘Wall Street Has Been Asleep at the Wheel’

The Winklevoss twins, founders of the Gemini crypto exchange, say its retail investors who are still largely reaping the benefits of the crypto market. While many still regard Bitcoin as too risky a bet for the average investor, Tyler argued that on the contrary, the retail sector remains one step ahead of financial institutions when it comes to crypto. Of all traditional investments, Cameron added, Bitcoin is most similar to gold — a new store of value for the digital era. And while it may be volatile, it’s the future, he said, underscoring: “We had to invest because we were afraid of missing out, we couldn’t miss out on this future.”

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Cyberattacks on Texas Cities Put Other Governments on Guard

Cyberattacks that recently crippled nearly two dozen Texas cities have put other local governments on guard, offering the latest evidence that hackers can halt routine operations by locking up computers and public records and demanding steep ransoms. Officials are increasingly turning to cybersecurity insurance to help curb the growing threat. The attacks, which have been happening for years, can set governments back decades.

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Trump Says The R-word – How Bitcoin Wins From Recession

The word recession passed the lips of US President Donald Trump yesterday, and despite recent price action, that’s a positive for Bitcoin. The consensus of analyst opinion is that there will not be a recession in the US this year or next. Anthony Pompliano from Morgan Creek Digital Assets was in conversation with Joe Kernen on CNBC yesterday, and he was in typically bullish mood, although he does see possible temporary setbacks for bitcoin from regulatory pressures and the of use/entry issues that still haven’t been solved.

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Vitalik Buterin: Increasing Transaction Costs Risk Limiting Ethereum Adoption

Vitalik Buterin said that the increased cost of transacting on the Ethereum blockchain is hurting the software’s adoption. Butertin suggested projects that are considering whether to build on the technology will likely be butted out as the blockchain is overloaded with transactions, or in his words “almost full.”

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Korean Crypto Exchange ‘Prixbit’ Shuts Down Over Banking Woes

South Korea’s Prixbit cryptocurrency exchange has officially closed down. The exchange declared it would cease operations. “Due to negative internal and external influences, management difficulties could not be overcome and normal operation became impossible,” the founder wrote. The exchange said it had worked hard to deal with hacking, money laundering and voice phishing. It promised to return all deposits for people who had provided customer information to allow for return. For other tokens still on deposit, the site encouraged the owners to register for a refund as soon as possible.

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Japan’s Retail Giant Rakuten Officially Launches Crypto Exchange

Japanese cryptocurrency exchange Rakuten Wallet has launched trading a year after acquiring Everybody’s Bitcoin. The exchange, which is a subsidiary of Japanese e-commerce giant Rakuten, said spot trading of three cryptocurrencies — Bitcoin, Ether and Bitcoin Cash — was now live. In future, developers plan to release an app for iOS and Android, use of which will be mandatory for deposits and withdrawals.

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