Facebook’s Zuckerberg and Telegram’s Durov Posture as Defenders Against Foreign Tech Invasions

Two icons of tech — one American, one Russian — are hard at work trying to win back the jilted governments of their home countries by stirring up concerns over foreign competitors.  When nationalism meets tech In a hearing tomorrow before the congressional Antitrust Subcommittee, Mark Zuckerberg plans to portray Facebook as the American champion to meet Chinese tech. Meanwhile, Pavel Durov has waged a similar campaign to rehabilitate Telegram in his native Russia, largely by painting U.S. tech as an invading force. It’s an interesting strategy, especially since the…

How Grayscale Investments Sells Bitcoin to Financial Advisors

In a webinar hosted by InvestmentNews, Grayscale Investments’ managing director, Michael Sonnenshein, and financial consultant, Tyrone Ross Jr., educated financial advisors about the benefits of crypto investments. A slide from Sonnenshein’s presentation. Grayscale offers ten crypto related investment products with its Bitcoin Trust, or GBTC, being by far the largest. Currently, it holds close to 400,000 BTC, though lately, the demand for the product has subsided. Physical representations of Bitcoin called into question Quite a bit of time was spent on some well known aspects of Bitcoin, like its finite…

Regulatory Clarity Leads to Surge in Institutional Crypto Investors

Ciara Sun, head of global markets at Huobi Group, took part in a Cointelegraph China Great Bay Area International Blockchain Week pre-event interview on July 27. She stressed that although security and lack of infrastructure services might be the biggest hurdle for the crypto industry, more clarity in regulation across the globe has led to a great surge in institutional crypto investors. Systemic risks in crypto market infrastructure The biggest risk in the digital asset space, according to Ciara Sun, is hacking. She stressed that while hacking doesn’t typically lead…

Cardano’s Shelley Hard Fork is Happening Tomorrow, No Interruption Expected

On July 29, Cardano (ADA) will migrate from the Byron to Shelley era with a planned hard fork. The team stated that no interruptions to the Blockchain’s normal operations are expected, elaborating that “this is the moment when Shelley ‘comes alive’ on mainnet, introducing features such as stake pools, delegation and rewards, opening up a new era of decentralization for Cardano.” Charles Hoskinson: thousands of DApps by 2021 Cardano founder Charles Hoskinson is extremely optimistic about the platform’s future, he expects to see thousands of decentralized applications and tons of…

Stablecoin Adoption Skyrockets in Rural South Korean Province

South Korea’s Buyeo County, located in the rural province of South Chungcheong, has been witnessing strong interest in a local blockchain-powered stablecoin since its creation in early 2019. According to a report published by Donga, most of the county’s population is made up of elderly residents. Census data indicates that around 75,000 people live there in total. In 2019, the county created a local token named “Goodtrae Pay” at a cost of over $267,000. Launched to increase contactless payments As of press time, around $48.5 million in tokens have been…

Almost 95% of Bitcoin Supply Flips Profitable as BTC Price Hits $11.4K

The vast majority of the Bitcoin (BTC) supply is now in profit after its price bull run to $11,400, data shows. Tracked by on-chain monitoring resource Glassnode, as of July 27, almost 95% of the Bitcoin supply is now worth more than when it last moved. Bitcoin profitable days hit 97.7% Monday’s figure almost matches the previous high set in June 2019, at the height of Bitcoin’s price surge which topped out at $13,800. Bitcoin percent supply in profit 3-year chart. Source: Glassnode This time, however, multiple factors differentiate the…

US Customers to See More Crypto Accessibility

The cryptocurrency market has come a long way in a seemingly short amount of time. Digital payment platforms have particularly taken note of the crypto market’s impressive growth, which is evident, as many have adopted new features and support for more cryptocurrencies. United States-based customers in particular seem to be reaping the benefits of recent implementations being made by digital payment providers. It’s especially notable that these new features are coming at a time when the Office of the Comptroller of the Currency has granted permission for federally chartered banks…

Mastercard Exec Accused of Money Laundering Cover-Up at Bank With Ties to Wirecard

Controversial German payments processor Wirecard — the issuer of several crypto debit cards — has been implicated in a new report on alleged criminal activities by a Mastercard executive operating at the troubled FBME bank in Cyprus. In 2014, the United States’ Financial Crime Enforcement Network had banned U.S. financial institutions from dealing with FBME after the bank was accused of being used to “facilitate money laundering, terrorist financing, transnational organized crime, fraud, sanctions evasion and other illicit activity.”  The allegations included facilitiating the processing of money tied to the…

Bitcoin Will Hit $28K and Correct, Then Hit Six Figures — Max Keiser

Bitcoin (BTC) will not stop rising until it hits $28,000, Max Keiser believes as the largest cryptocurrency gains over 20% in a week. In a series of tweets on July 27, the famously outspoken host of the Keiser Report forecast that BTC/USD was headed for six figures after a correction period near $30,000. Peter Schiff is “puking his brains out” Keiser made the prediction as Bitcoin passed $11,200 during a day of surprises. As Cointelegraph reported, $10,000 managed to hold for longer than a matter of hours, and data indicated…

China’s BSN Aims to Integrate With 40 Public Chains Within a Year

China’s Blockchain-based Service Network (BSN) will be integrating with some of the most well-known public blockchains over the next 12 months.  He Yifan, CEO of Red Date Technology, the private company behind the BSN, told Cointelegraph that the network aims to integrate with 30–40 public blockchain networks by June 2021. In the following year, it will further integrate more blockchains to purportedly double that number. Launched in April, BSN is China’s first government-backed blockchain initiative that was initially positioned to help small to medium-size businesses and entrepreneurs build and deploy…