Alleged Bitcoin Fraudster Alexander Vinnik Appeals for Extradition to Russia

Former operator of now-shuttered crypto exchange BTC-e, Russian national Alexander Vinnik, has appealed with a Greek court for his release or extradition to Russia, local media outlet Kathimerini reported on March 21. Vinnik — who is accused of fraud and laundering as much as $4 billion in Bitcoin (BTC) over the course of six years — has reportedly filed an appeal with Piraeus court for his release or extradition to Russia for humanitarian reasons. Prior to that, Russia’s Commissioner for Human Rights Tatyana Moskalkova asked both the United Nations High…

Crypto Markets Descend While Tech Stocks Surge

Thursday, March 21 — Most of the top 20 coins by market capitalization are in the red, showing slight losses on the day, down from one to four percent. Market visualization from Coin360 The leading cryptocurrency Bitcoin (BTC) is trading at $4,027 at press time, down about one percent over the 24-hour period. BTC has been trading sideways as of early trading hours, following a drop to as low as $4,007 in the middle of the day. Bitcoin 24-hour chart. Source: CoinMarketCap The top altcoin Ethereum (ETH) has seen a…

Bitmain Plans to Set Up 200,000 Crypto Mining Machines in China

Cryptocurrency mining giant Bitmain is reportedly planning to set up 200,000 units of mining equipment in China to benefit from low-cost hydroelectric power in the country, crypto media outlet CoinDesk reported on March 21. A source from China familiar with the matter reportedly told CoinDesk that Bitmain will install 200,000 units of their own mining machines to take advantage of cheap hydroelectric power costs during the summer following the excessive rains in southwestern China. The mining equipment is estimated at around $80 million to $100 million. The crypto mining giant…

High Ethereum Price Good for Security, Ecosystem Development

Ethereum (ETH) co-founder Vitalik Buterin says that high ether prices are important both for network security and the wider ecosystem’s development. Buterin made his remarks during an interview for Laura Shin’s crypto-focused “Unchained,” hosted at the Columbia Graduate School of Journalism and live-streamed on March 20. In response to Shin’s question as to whether protocol designers and project leaders should be focusing on the question of a cryptocurrency’s price, Buterin referred to the “earlier rhetoric” of the Ethereum project, which had explicitly downplayed the importance of the asset’s value: “In…

UPS Integrates Blockchain Platform to Improve Merchant Supply Chains

Major American postal carrier UPS and e-commerce technology company Inxeption have jointly rolled out a blockchain-powered platform to improve merchant supply chains. The development was announced in a press release published on March 21. The new blockchain platform dubbed Inxeption Zippy is designed to help companies list, market and distribute their products to customers. The platform purportedly enables merchants to monitor the entire supply chain from product listing to delivery, ensuring that sensitive data like contract-specific pricing and rates are only accessible to the buyer and seller. By using the…

Reliability Engineering at Coinbase – The Coinbase Blog

Why Reliability Engineering? Why is Reliability Engineering relevant at a company like Coinbase? Why would we want to build a Reliability Engineering team? “Our goal is to make Coinbase the most trusted and easiest to use digital currency exchange.” -Brian Armstrong, Co-founder & CEO It all comes back to what our CEO Brian Armstrong said about Coinbase wanting to be the most trusted. Our goal in the cryptocurrency industry is to create an open financial system for the world — and part of that requires us to build the most trusted digital…

Why Square’s Bitcoin Hiring Spree is Crucial for Crypto Adoption

Jack Dorsey, the CEO of Square, the $32.7 billion mobile payment giant based in the U.S., revealed that Square would fund three to four developers and a designer to work on the open-source protocol of Bitcoin and the crypto ecosystem. Independent of the core business strategies of Square, the team of developers and a designer will work to contribute to the cryptocurrency ecosystem in a variety of ways, potentially by contributing to the open-source codebase of the Bitcoin network. Join CCN for $9.99 per month and get an ad-free version…

Bitcoin Cash (BCH) Prices Cool Off, Correction to $140 in Progress

Bitcoin Cash outperforms all assets in the top 10 The ABC team will implement Schnorr signatures in May 2019 Participation levels drop despite BCH registering double-digit gains Schnorr Signatures, it appears, will first call Bitcoin Cash home before implementation at Bitcoin core. Nonetheless, Bitcoin Cash (BCH) is outperforming other assets and up 24 percent from last week’s close. Bitcoin Cash Price Analysis Fundamentals In recent weeks, Bitcoin Cash has been on a roll. With supportive fundamentals such as Digitec and Galaxus, Avnet and Vordex Suisse all offering support, it’s only…

Crypto AriseBank CEO Pleads Guilty to Deceiving Investors in $4.2 Million Case

The former CEO of reported cryptocurrency scam AriseBank has pleaded guilty to defrauding victims of over $4.2 million, Texas-based daily news outlet Dallas News reported March 21. Jared Rice, whom the FBI arrested over securities and wire fraud in November last year, confessed to his activities, according to an announcement by the United States Attorney for the Northern District of Texas, Erin Nealy Cox. Rice had allegedly falsely claimed that AriseBank could offer customers “FDIC-insured accounts and traditional banking services, including Visa-brand credit and debit cards, in addition to cryptocurrency…

Ripple (XRP) Under Pressure Within a 4 Cents Range

Ripple prices oscillating in a 4 cents range xRapid adoption will catalyze XRP interest Average participation levels more than half those of Feb 24-2. Aside from IBM’s World Wire–which would in a way loosen banks allowing these conservative intermediaries to experiment with digital coins, Ripple enthusiasts are watching xRapid and how banks are responding to its value proposition. By using XRP, fund transfer will be faster and cheaper benefiting both parties. If banks are interested, prices of Ripple (XRP) will edge higher as demand increase. Ripple Price Analysis Fundamentals Mercury…