Eos Developer Block.one Announces Blockchain-Based Social Media Platform Voice

Eos (EOS) parent company Block.one has announced a blockchain-based social media platform called Voice, according to a press release shared with Cointelegraph on June 1. The firm claims that the platform will use the Eos blockchain to provide transparency on how it operates, without hidden algorithms or content-pushing mechanisms of which the user is unaware. In the press release, the CEO of Block.one, Brendan Blumer, compared Voice with traditional social media platforms, saying: “The truth is, current social media platforms are designed to use their users. Just look at the…

‘This Tech Can Solve the Trust Crisis’

Head of Blockchain and Distributed Ledger Technology at the World Economic Forum (WEF), Sheila Warren, claims that blockchain could be a solution to the worsening trust crisis globally. Warren made her comments during an interview with Cointelegraph on May 31. During the interview, Warren claimed that public trust towards governments, banks, media and institutions, namely in the U.S., is “rapidly eroding.” She then noted that she thinks that blockchain, if used correctly, can be a solution to this problem: “This technology could provide access to information that could enable third…

Bitcoin Price Approaches $8,600 as Top Cryptos See Slight Gains

Saturday, June 1 — most of the top 20 cryptocurrencies are reporting slight gains on the day by press time, as bitcoin (BTC) approaches the $8,600 mark. Market visualization courtesy of Coin360 Bitcoin is up just over 1% on the day, trading at $8,532 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 6%. Bitcoin 7-day price chart. Source: CoinMarketCap Recently released research from United States-based blockchain intelligence firm Chainalysis indicates that only 1.3% of economic transactions for bitcoin came from merchants in…

US, Japan Top Sources of Traffic to Crypto Exchanges Globally: Study

The United States is the top source of traffic to cryptocurrency exchanges globally, Cointelegraph Japan reported on June 1. The research was released by crypto news outlet The Block on May 31. The study shows that 24.5% of the total traffic directed to crypto exchanges originates in the U.S. Japan came in second, with 10% of the total traffic, while South Korea got about 6.5% and Indonesia about 4.5%. Still, as The Block points out, some countries — for instance China — block access to cryptocurrency exchanges and users from…

Bitcoin Holding Wall Street Investor Predicts Declines in S&P 500 Market

The S&P 500 stock market has delivered its worst May performance in seven years after falling 6.6 percent. And Mark Yusko of Mogan Creek Capital believes that it is about head further lower this year. The chief executive officer and one of the world’s most renowned fund managers told CNBC that S&P has been in a bear market since September 2018. He said the market suffered a sharp downtrend last year, which was the first trademark phase of a bearish bias. The next stage, which took place in the first…

Does Kik Stand a Chance Against the Goliath of the SEC in a US Court?

It’s difficult to fight progress. Although, if you’re the United States Securities and Exchange Commission (SEC), you can at least try, which could explain why the agency has so far refrained from producing clear and favorable cryptocurrency regulation. Since February 2018, the SEC has taken to consider all initial coin offerings (ICOs) as being securities. Meanwhile, in June 2018, SEC Chairman Jay Clayton proclaimed that the commission is “not going to do any violence to the traditional definition of a security that has worked for a long time.” And given…

These US Insurance Giants Will Pay Each Other on a Blockchain

By CCN: USAA and State Farm have reportedly closed a deal that will see them using the blockchain to pay each other. So when two people get in an accident, and they’re represented by either of the companies, the company that has to pay will eventually be using a blockchain solution to settle the inter-company payment. Billions Per Year Settled On Blockchain The claims amount to billions of dollars a year, which is a lucrative volume that blockchains can settle in minutes. The advent of stablecoins and clearer regulations have…

Crypto Market Primed For Gains: Bitcoin Cash, EOS, TRX, ADA Analysis

The total crypto market cap tested the key support area near $245.0B and bounced back. Bitcoin price jumped sharply after testing the main $8,000 support area. EOS price is up more than 10% and it broke the $8.00 and $8.20 resistance levels. Bitcoin cash price tested the $420 support level and bounced back above $440. Tron (TRX) price is up more than 12% and it recently broke the $0.0350 resistance. Cardano (ADA) price is currently trading near the $0.0900 and $0.0905 resistance levels. The crypto market cap, bitcoin (BTC), Ethereum…

eToro Custodial Service Sees 13% Surge in Bitcoin Holdings in Two Weeks

The amount of bitcoin deposited with UK-based asset brokerage company eToro is rising dramatically. The firm’s chief market analyst, Mati Greenspan, said on Wednesday that they witnessed a 13 percent surge in bitcoin holdings at their proprietary custodianship. The deposits jumped particularly between May 4 and May 18, the period which saw bitcoin price appreciating more than 50 percent against the US dollar. “eToro clients, indeed, participated in the recent Bitcoin surge,” stated Greenspan. “During the recent rally (May 4th – 18th) overall client holdings rose by about 13%.” The…

64% of Ransomware Attackers Launder Proceeds via Crypto Exchanges

United States-based blockchain intelligence firm Chainalysis claims that 64% of ransomware attack cash-out strategies involve the laundering of funds via cryptocurrency exchanges. The data was revealed in a Chainalysis webinar attended by Cointelegraph on May 30. A ransomware attack involves the infection of a target with malware and the demand of a ransom payment — frequently denominated in cryptocurrencies. The payment is demanded in return for the ostensible delivery of a decryptor tool that can help victims recover access to their data. Chainalysis — which provides blockchain analytics tools that…