Fri, Sep 25, 2020 8:18 PM

Crypto Weekly News — September, 25

Weekly digest autumn

What important crypto events happened last week?

Cryptocurrencies

Cryptocurrencies

📌 Bitcoin Is About To See Its Largest Quarterly Options Expiry Ever

One factor that could contribute to cryptocurrency instability shortly is the inevitable expiration of 87,000 quarterly BTC options contracts. Traders who roll back these positions or close them before the close may cause some turbulence.

📌 Ripple Expands Partnership With Bill & Melinda Gates Foundation Via Mojaloop

India's leading digital payment platforms PhonePe and Ripple have joined as sponsor members. As a sponsor, Ripple will contribute to the development of strategic vision, corporate governance, and technical guidance to ensure the long-term health and growth of the Mojaloop open source community.

📌 IOTA: First SOCIETY2 Product Will Be Available To Use Very Soon

As announced, Secrets will be a messaging app that will allow its users to send private peer-to-peer messages and add users to a private group. The first product of the ecosystem is in the final stages of development.

📌 IOTA: Eclipse Foundation Makes First Commit For Tangle Marketplace Project

The Tangle Marketplace received its first commit from the Eclipse Foundation. As part of a collaboration between IOTA and the Tangle EE Working Group, the project aims to advance use cases in the digital economy through the IOTA Tangle. Besides, the team is also developing the Unified Identity project.

📌 SUSHI Faces Massive Sell-Off Following Uniswap’s Token Launch

SUSHI was among the worst-performing cryptocurrencies this week. This is because Uniswap launched its UNI token. Sushiswap fell just over 16% in 24 hours. On Thursday alone, the SUSHI/USD exchange rate fell more than 10%, trading at $1.357 per token.

Projects and Updates


Projects

📌 BitMart Exchange Partners With Top Cybersecurity Solutions Provider

The partnership with cybersecurity firm Hacken should make cryptocurrency trading more secure. BitMart Exchange calls the new development a revolutionary innovation. The new technology will monitor the security of the platform while ensuring that the site is resilient to future hacking attempts.

📌 VeChain Presents VerifyCar At BMW Group’s ‘Digital Innovation Day’

The blockchain-based platform will collect vehicle data such as mileage, repairs, and additional services. The decentralized app will run on the VeChainThor blockchain, which will provide security and data protection. BMW emphasizes that VerifyCar users will have more control over their data.

📌 Bitfinex Adopts Lightning Network’s ‘Wumbo Channels’

The platform has opened three Wumbo Channels to avoid the inherent Lightning Network bandwidth limitations of 0.1677 BTC. Each channel has a limit of 5 BTC. According to representatives of the exchange, these are the largest channels in the Lightning Network.

📌 Binance Creates ‘Innovation Zone’ To Let Only Select Users Trade New DeFi Tokens

Binance is positioning the new service as a safe haven for trading high volatility DeFi assets. Binance CEO Changpeng Zhao noted that the platform needs to add new popular tokens to remain competitive.

📌 KuCoin Establishes Strategic Partnership With Poloniex To Elevate Digital Asset Exchange Industry

The initiative involves the creation of a research organization. Representatives of the sites note that the cooperation will help them make the most of the opportunities of the cryptography and blockchain industry.


Hacking


Hacking

📌 KuCoin Group Issues A Warning About Phishing Sites

Users are warned that kucoin-exchange.net is not affiliated with KuCoin Group and is a fraudulent domain. To avoid these types of scams, users are asked to be careful and avoid links from domains similar to the official ones.

📌 Twitter Tightens Security Ahead Of US Presidential Election

Additional measures include stronger passwords, password reset protection, and two-factor authentication. The service will also update the internal system to quickly respond to suspicious activity.

📌 Korean Police Summon Bithumb Chairman For Fraud Investigations

According to the police, Lee Jung Hoon organized a pre-sale of the native Bithumb BXA token, which never made it to the listing. The estimated damage to investors was around 30 billion won (~$25 million). The second charge is related to the overseas real estate of the chairman of the exchange. Law enforcement agencies speculate that Hoon was tax evasive.

📌 Australian Man Caught Mining On Supercomputers Avoids Jail

In 2018, Jonathan Khoo worked as a contractor for the Commonwealth Scientific and Industrial Research Organisation (CSIRO). Using two government supercomputers, he mined Ethereum and Monero worth almost $6,897 in a month. Mining cost the agency $56,133. The man faced 10 years in prison, but the judge took into account his confession, loss of a job, and no criminal record. Khoo was assigned 300 hours of community service and psychological counseling.

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