Block Network

September 1, 2020

Bitcoin is targeting $288K Stock-to-Flow price ‘like clockwork’ — PlanB

Another monthly close is exactly in line with stock-to-flow predictions, as Europe sees a return to negative inflation and the dollar wanes. Bitcoin (BTC) is heading to $288,000 and higher “like clockwork” as fiat currency woes mount and European inflation goes negative.In a tweet on Sept. 1, PlanB, creator of the stock-to-flow (S2F) family of […]

Binance launches Ethereum-compatible blockchain to pursue DeFi

Binance wants to stay ahead of the DeFi trend. After teasing the upcoming blockchain in April, Binance has launched the mainnet of its Smart Chain — a smart contract-enabled blockchain running in parallel to Binance Chain.Binance Smart Chain comes with an Ethereum Virtual Machine-compatible environment, which allows Solidity developers to move into the new chain […]

Jerome Powell throws US dollar under a bus in Jackson Hole

Fed Chairman Jerome Powell threw the U.S. dollar under a bus last week at the central bank’s annual Jackson Hole, Wyoming, meeting. The Economic Policy Symposium hosted annually by the Federal Reserve Bank of Kansas City — an event attended by finance ministers, central bank managers and academics, among others — was held virtually due […]

Hacker behind 1,400 BTC Electrum wallet theft transacted on Binance

The hacker’s identity may not be a mystery for much longer. On Aug. 30, a Github user made a post about losing 1,400 Bitcoin (BTC) via an elaborate hack that affected his Electrum wallet. N-chain analysis indicates that the hackers had a Binance account and that some of the transactions used to move the stolen […]

Three of Australia’s “big four” banks bring bank guarantees on blockchain

Blockchain tech could purportedly reduce the timeline of bank guarantees processes by days. Three of the “big four” Australian banks are forming a new company called Lygon to digitize bank guarantees using blockchain technology. Bank guarantees are an official contract between a debtor and a financial institution. It ensures the debtor and the debt provider that […]

Class action lawsuit targeting Tezos ends in $25M settlement after 3 years

After three long years, the class-action lawsuit alleging that Tezos violated securities laws through its 2017 ICO has concluded. The three-year-long class-action lawsuit targeting Tezos (XTZ) has come to a conclusion after Judge Seeborg approved Tezos’ $25 million settlement on Aug. 28.According to the judgment, the funds will be distributed among “all persons and entities” […]

Binance may know who is behind the 1,400 BTC Electrum wallet hack

The hackers’ identity may not be a mystery for much longer. On Aug. 30, a Github user made a post about losing 1,400 Bitcoin (BTC) via an elaborate hack that affected his Electrum wallet. N-chain analysis indicates that the hackers had a Binance account and that some of the transactions used to move the stolen […]

Vitalik Buterin compares DeFi tokenomics to the Fed’s money printer

Ethereum’s co-founder has taken aim at coins designed to incentivise yield farming, comparing their underlying economics to irresponsible monetary policies Vitalik Buterin, the co-founder of Ethereum (ETH), has again taken to Twitter to warn against naive bullishness in the decentralized finance (DeFi) sector, comparing the economics of yield farming tokens to the Federal Reserve’s money […]

Blockchain platform connects Indian farmers to UAE food industry

Agriota E-Marketplace may give farmers in India more access to the UAE’s multi-billion dollar food industry. Food industry officials in the United Arab Emirates may soon have a blockchain-based supply chain to obtain agricultural products directly from India.According to an Aug. 31 report, officials in the United Arab Emirates (UAE) will be using Agriota E-Marketplace, […]

Malaysian authorities arrest crypto miners for $600K power theft

The two crypto mining operations stole almost $20,000 in electricity monthly. Officials in the Malaysian state of Johor shut down two crypto operations which had stolen more than $600,000 worth of electricity over three years. According to a Sept. 1 report from local news site The Star, Malaysia’s Energy Commission, power utility firm Tenaga Nasional Berhad […]