Michael Terpin Urges FCC to Curb Crypto Fraud That Cost Him $24 Million

Crypto investor Michael Terpin has written an open letter to Federal Communication Commission (FCC) chairman Ajit Pai requesting urgent action on SIM swapping fraud. Terpin, a victim of SIM swapping himself, asked the regulator to make mobile carriers hide customer passwords from employees and to provide a “no port” option, whereby customers would have to go through a company’s fraud department before transferring their SIM information to a new phone. In a SIM swap, criminals pose as the owners of a victim’s mobile phone number, convincing telecom providers to grant…

Bitcoin Lacks Direction after Weekend Gains; Correction Incoming?

Bitcoin was trading in positive territory on Monday to uphold gains it made during this weekend. The benchmark cryptocurrency surged by 0.07 percent to trade near $8,230 as of 1140 UTC. At its session high, it was trading at $8,301.85, which was 4.37 percent higher than Friday’s closing point. The upside came as a part of technical correction after bitcoin tested $7,800 as support. More ideally, the cryptocurrency tested the lower trendline of the sideways channel, wherein it is trending since September 25. It opened possibilities of bitcoin to test…

Binance CEO: Russian Ruble to Be First Fiat-Crypto Trading Option

Cryptocurrency exchange Binance is soon to launch its first fiat-to-cryptocurrency trading pairs. Speaking at the Open Innovations 2019 conference in Moscow on Monday, CEO Changpeng “CZ” Zhao confirmed that fiat options are on the way, kicking off with the Russian ruble: “We’re adding support for fiat trading. In about two weeks or so, we should have support for Russian ruble trading, direct.” Until now, the company’s primary service, binance.com, has only supported crypto-to-crypto trading. However, it has launched local fiat gateways in Uganda, Singapore, Jersey and, most recently, the U.S. Binance had said in September that fiat…

Bitmain Launches ‘World’s Largest’ Bitcoin Mining Facility in Texas

Chinese cryptocurrency hardware manufacturer Bitmain has opened what it claims is the “world’s largest” facility for Bitcoin (BTC) mining, in Rockdale, Texas.  In a press release published on Oct. 21, Bitmain revealed the project had been completed together with the Rockdale Municipal Development District and Canadian technology firm DMG Blockchain Solutions. Pledges to boost the local economy The press release places a strong emphasis on working with the local economy of Rockdale, which is located in Milam County, east of Austin, in the United States state of Texas. The facility…