Kazakhstan Sets Eyes on Top-3 Spot for Global Bitcoin Mining

Kazakhstan is becoming an important destination for Bitcoin (BTC) miners seeking cheap electricity in the post-halving market driven by thinner margins. According to recent reports, the oil-rich Central Asian country expects the total amount of money invested in local crypto mining operations to double by the end of 2020 and attract $738 million . . . → Read More: Kazakhstan Sets Eyes on Top-3 Spot for Global Bitcoin Mining

Accomplice in Alleged $722M Bitcoin Ponzi Scheme Pleads Guilty to Charges

One of four men charged with defrauding investors of more than $722 million through a long-running cryptocurrency mining scheme has pleaded guilty to charges against him.

The man, a 35-year-old Romanian programmer called Silviu Catalin Bacali, was arrested in Germany in December 2019. He was charged with one count of conspiracy to . . . → Read More: Accomplice in Alleged $722M Bitcoin Ponzi Scheme Pleads Guilty to Charges

Tether Blacklists 39 Ethereum Addresses Worth Over $46 Million

Tether (USDT) has blacklisted 39 Ethereum addresses worth $46 million in USDT, with 24 holding a total of over 5.5 million USDT being blacklisted this year. This revelation comes on the back of Centre’s first blacklisting of an Ethereum address holding $100,000 USDC.

Ethereum researcher at Horizon Games Philippe Castonguay used Dune Analytics . . . → Read More: Tether Blacklists 39 Ethereum Addresses Worth Over $46 Million

Switching Bitcoin to 100% ASIC Mining Could Increase Security 2,000X

The wholesale embrace of Application-Specific Integrated Circuits (ASIC) mining for Bitcoin (BTC) could increase the cost of a 51% attack by a factor of up to 2,000.

Rod Garratt University of California Santa Barbara presented the research he co-authored with Maarten van Oordt from the Bank of Canada at the Unitize . . . → Read More: Switching Bitcoin to 100% ASIC Mining Could Increase Security 2,000X

‘Significant’ Ethereum Rally Signals New Altcoin Season — Peter Brandt

Popular trader Peter Brandt believes that Ether (ETH) saw a significant breakout in its ETH-BTC pair on July 9. According to the veteran trader, the breakout could be a signal that a new altcoin season could occur in the near-term.

Brandt tweeted:

“Significant breakout in ETH-BTC with target of .03276 BTC. . . . → Read More: ‘Significant’ Ethereum Rally Signals New Altcoin Season — Peter Brandt

Chinese Police Dismantle $14M Crypto Scam

The Chinese authorities dismantled a significant crypto-related scam in Wenzhou. The scheme amassed over 100 million yuan ($14.31 million), which was seized along with a number of luxury cars and villas.

According to Toutiao, the gang has been operating since 2019 and primarily sought out victims through Telegram chat groups, including . . . → Read More: Chinese Police Dismantle $14M Crypto Scam

A Record Number of Bitcoin Were Recently Withdrawn From Exchanges

July 8 set a year-to-date record for the number of net Bitcoin (BTC) withdrawn from custodial exchanges. The onslaught was led by Coinbase.

A bullish sign?

Yesterday, 20,660 more Bitcoin were removed from exchanges than deposited according to data from Glassnode. This represents 2020’s biggest daily outflow of Bitcoin from exchanges — . . . → Read More: A Record Number of Bitcoin Were Recently Withdrawn From Exchanges

Alchemy Aims to Transform Blockchain Development with New Build Tools

While it may be a long-standing joke in the developer community that any bug can be turned into a feature simply by documenting it, the fact is that blockchain deployment is often mission-critical. Whether it’s at the protocol level within a permissioned enterprise solution, on a public chain, or within an app . . . → Read More: Alchemy Aims to Transform Blockchain Development with New Build Tools

Low Ether Volatility: No Trader Interest or Calm Before the ETH Storm?

Media magnate Steve Forbes recently criticized cryptocurrencies for their volatility, saying that one day they can be a steak, and the next day they can turn into dog food. Price fluctuations have accompanied the digital currency market since its inception and have been an important reason for the interest of traders in cryptocurrency.

. . . → Read More: Low Ether Volatility: No Trader Interest or Calm Before the ETH Storm?

Bitcoin Gold Copycat Rally ‘Just Started’ Amid Worries of March Repeat

Bitcoin (BTC) is preparing to copy gold as it aims for all-time highs, according to an exchange amid fresh warnings that a correction is due.

In a tweet on July 9, LATOKEN highlighted the increasingly “correlated” relationship between the precious metal and BTC.

Bitcoin-gold correlation increasing?

After XAU/USD topped $1,800 for the first . . . → Read More: Bitcoin Gold Copycat Rally ‘Just Started’ Amid Worries of March Repeat