Block Network

October 8, 2020

Bitcoin price turns bullish on Square’s $50M BTC purchase: Is $11K next?

Bitcoin price rallied close to $11,000 after Square announced a $50 million BTC purchase. The number of Institutional investors stepping in to Bitcoin continues to increase and this appears to be inspiring some newfound confidence in Bitcoin price. Just today Square announced that it had purchased 4,709 Bitcoin (BTC) for $50 million.Square is not the […]

US attorney general releases guidelines for enforcing crypto laws

Regulation and guidance continue to come in hot from the land of the free. William Barr, the attorney general for the U.S., published official guidelines for keeping crypto markets accountable. The lead U.S. attorney’s Cyber-Digital Task Force put together the guidelines, officially calling them: Cryptocurrency: An Enforcement Framework, according to an Oct. 8 statement from the U.S. Department […]

DOJ says use of privacy coins is ‘indicative of possible criminal conduct’

Privacy coins are getting more attention than ever from the U.S. government. A new report from the U.S. Department of Justice alleges that crypto traders dealing with coins like Monero, Dash, and Zcash are engaging in “high-risk activities.”According to the report by the U.S. Attorney General’s Cyber Digital Task Force called Cryptocurrency: An Enforcement Framework […]

DOJ states it has jurisdiction over foreign crypto companies that touch US servers

The US government says they have broad extraterritorial jurisdiction over crypto-related businesses. The Cryptocurrency Enforcement Framework issued by the U.S. Department of Justice stipulates a number of cases where it will exert its authority over foreign actors: “where virtual asset transactions touch financial, data storage, or other computer systems within the United States”, if they […]

NFTs take on DeFi? Nonfungible tokens push to be the next crypto craze

NFTs have been gaining traction in the background, but where is the industry headed? Decentralized finance has become the center of attention throughout most of 2020, sparking talk of a renewed alt season, with many believing that mass adoption of DeFi will be coming within the next three to 10 years. Nevertheless, other sectors in […]

Coinbase hemorrhages employees following controversial culture stance

Coinbase CEO Brian Armstrong publishes further details about his company’s changing landscape. After adjustments to company policies, popular U.S.-based crypto exchange Coinbase has seen backlash from employees who disagreed with the changes. “We subsequently decided to make a generous exit package available to any employee who didn’t feel they could be on board with this direction,” […]

BitMEX exchange operator shuffles leadership in wake of criminal charges

BitMEX’s operator has allocated new leadership roles with immediate effect. The operator of crypto derivatives exchange BitMEX has announced a sweep of its top leadership, after United States authorities charged its founders with failing to prevent money laundering and operating an unregistered trading platform illegally. On Oct. 8, BitMEX’s operator, 100x Group, announced that the exchange’s three co-founders, all of […]

Bitfinex hackers move another $30M in stolen Bitcoin from 2016

The Bitfinex hackers have moved thousands of Bitcoins in 2020. Bitcoins (BTC) stolen from major cryptocurrency exchange Bitfinex back in 2016 are on the move again, as hackers shift another massive batch of funds to unknown wallets.According to data from crypto transaction tracking service Whale Alert, Bitfinex hackers moved more than $4.6 million in stolen […]

Solana set to launch decentralized Ethereum bridge to power DeFi

Ethereum liquidity will no longer have to go through FTX to reach Solana. Solana, the smart contract platform that recently entered the spotlight thanks to FTX’s Serum, announced the upcoming release of what it says is a decentralized bridge for Ethereum ERC-20 tokens.Called Wormhole, the bridge would allow users to transfer value between the different […]

British fintech to expand banking services to Indian crypto customers

London-based banking company Cashaa will launch a crypto-friendly neo-bank in India The London-based online banking platform Cashaa is planning to launch a crypto-friendly neobank — or internet bank — in India. Kuman Gaurav, the founder of Cashaa, told Cointelegraph that Cashaa India will allow Indian businesses and individuals to open a savings account with them and […]