Just Four Crypto Leaders on Forbes’ List of Billionaires

There are more than 2000 billionaires on Forbes’ ‘The Richest in 2020’ list — but only a handful come from the world of cryptocurrency and none of them are named ‘CZ’. Only four entrepreneurs who made their fortunes in crypto were included among the 2,095 billionaires the magazine named on April 8. The richest man in crypto is Bitmain co-founder Micree Zhan, who appears at No. 690 on the list with a net worth of $3.2 billion. His co-founder Jihan Wu is not too far behind at No.1307, with $1.8…

South Korea’s Largest Crypto Unveils New Consensus Algorithm

South Korea’s largest public blockchain project, ICON (ICX), announced its new Loop Fault Tolerance 2.0 (LFT 2.0) consensus algorithm on April 8. The new algorithm claims to make performance improvements in scalability and network bandwidth over the popular Practical Byzantine Fault Tolerance (PBFT) consensus types, without compromising security. Innovation reduces network load and improves throughput The LFT 2.0 white paper was published on today been published on Github, following three years of research and development. It marks the first time that a South Korean team has successfully innovated on this…

Texas Regulator Spots Crypto Firm at Fraudulent COVID-19 Charity Claims

The Texas securities regulator has continued its crackdown on cryptocurrency scams, spotting an alleged fraudulent crypto firm that made fake claims about COVID-19 donations. On April 8, the Texas State Securities Board (TSSB) issued an emergency cease and desist order against Ultra Mining, alleging that the crypto mining firm is involved in diverse illicit activities including purportedly fraudulent claims to double investors’ money. As specified in an official TSSB notice, the Texas action was brought jointly with the Alabama Securities Commission to stop the ongoing illegal offering. According to the…

Here’s How the Crypto Sector Is Navigating the Pandemic’s Challenges

Despite hopes that a peak of the coronavirus cases is near, the pandemic continues to impact almost every aspect of daily life, becoming a rolling news ticker in itself. When such a disaster strikes, it can be easy to go through each day devouring the latest news as it occurs and digesting each piece as a story by itself without forming an overall picture. This pandemic is a seismic event with far-reaching impacts across different sectors, and crypto is no exception. In fact, because cryptocurrency markets move at breakneck speeds,…

Dutch Brokerage Platform Launches Crypto Trading Across Europe

In response to the growing demand for cryptocurrency trading, Dutch retail brokerage platform BUX launched its commission-free cryptocurrency trading platform BUX Crypto. In a statement published April 8, the company announced that BUX Crypto is now available across 25 European countries. BUX stated that its new offering aims to bring new traders into cryptocurrency markets by simplifying the crypto trading process. BUX CEO and founder Nick Bortot said: “We see BUX Crypto as a natural extension of our current lineup, which is focused on offering products that make it simple…

Decentralized Crypto Exchange Disables Trading Due to ‘Critical Security Vulnerability’

The developers behind the peer-to-peer cryptocurrency trading platform Bisq have temporarily disabled services after discovering a critical security vulnerability. Formerly known as Bitsquare, Bisq is a decentralized exchange (DEX) that facilitates crypto-to-fiat trades without a formal intermediary. In a community announcement posted on April 8, the developers said that they were investigating the security issue, telling users: “If you have any active trades right now, please DO NOT send any funds.” The devs add that it is “especially important” for users not to send any funds if they are involved…

US Court Postpones Sentencing for OneCoin Crypto Scam Co-Founder

Sentencing for the co-founder of the major crypto scam OneCoin has been postponed for a further three months at the request of the United States government. On April 7, the New York Southern District Court approved a motion to adjourn the sentencing control date for Konstantin Ignatov, brother and accomplice of OneCoin co-founder and current fugitive Ruja Ignatova, a.k.a the “Cryptoqueen.” Originally set for April 8, Ignatov’s sentencing date will now take place on July 8, 2020. Ignatov’s cooperation as a witness As reported, OneCoin is among the industry’s most…

Cooking Mama Developer Denies Rumours it Mines Crypto

Developer 1st Playable has denied rumors one of their games was used to hijack Nintendo’s Switch console to mine Bitcoin and other cryptocurrencies. While the recent Nintendo release, Cooking Mama: Cookstar, is connected to blockchain technology —  it’s not in the way some players have speculated.  Addressing the rumors on Twitter, 1st Playable said there was absolutely nothing “shady in the code”: As the developers we can say with certainty there is no cryptocurrency or data collection or blockchain or anything else shady in the code. The Nintendo Switch is…

Charity Crypto Poker Tournament: Big-Stacking Sats for COVID-19

The crypto community is rallying around the charge to fight COVID-19, with a variety of initiatives raising money to fight the pandemic and support charities on the front lines of the battle. The most recent: an online poker tournament, open to anyone and featuring a host of well-known crypto faces. The Giving Block has partnered with a number of high-profile cryptocurrency and blockchain firms to promote #CryptoCOVID19, a campaign to raise $100K — which kicked off with a matching pledge of $50k each from Vitalik Buterin and Gitcoin for all…

Is This It for Crypto Bulls?

After the bullish price action that transpired on Monday, Bitcoin has been dealt a blow over the past few hours, tumbling from the daily high at $7,470 to a local low of $7,070 — slightly more than a 5% drop from the local high. This weakness comes as the stock market has stumbled for the first time in a week, with the S&P 500 index actually posting a slight 0.16% loss since the Tuesday open and after Monday’s 7% performance. But is this it for Bitcoin bulls? Related Reading: After…