InCoin Eng (crypto news)

2022-01-13 15:22:02 Jack Dorsey will defend bitcoin developers in courts

Twitter co-founder and Block CEO Jack Dorsey announced the creation of a fund to protect bitcoin developers in litigation.

The Bitcoin Legal Defense Fund has set out to protect the "particularly susceptible to legal pressure" community. The fund is willing to provide attorneys, develop defense strategies and cover legal fees so that bitcoin developers can continue their work.

"We offer a coordinated and formalized response," Dorsey wrote.

The Bitcoin Legal Defense Fund will initially be supported by part-time volunteers and lawyers. Its board will focus on resource allocation.

The nonprofit's first action will be to support the 16 developers who were defendants in the lawsuit from Craig Wright. The self-proclaimed Satoshi Nakamoto demanded access to bitcoins allegedly lost through their fault. Open / Comment

2022-01-11 20:15:13 The Associated Press will launch an NFT-marketplace to sell photos

The Associated Press news agency announced the launch of a platform to sell its own photos in the form of NFT. The marketplace will be built on the Polygon blockchain.

The site is scheduled to launch and release its first NFTs on Jan. 31, 2022.

"For 175 years, AP photographers have recorded the world's grandest stories with compelling and moving images that continue to resonate today. With Xooa technology, we are proud to offer these tokenized exhibits to a rapidly growing global audience of NFT photo collectors," said the agency's Director of Blockchain and Data Licensing, Duane Desolyniers.

Each token contains a set of original metadata: time, place, date, equipment, and its settings. Every two weeks, AP plans to host a Pulitzer Drop, a selection of Pulitzer Prize-winning photos. Open / Comment

2022-01-11 18:34:02 Binance becomes official sponsor of AFCON 2021

Binance is pleased to announce that it is the official sponsor of the TotalEnergies Africa Cup of Nations (AFCON) 2021 tournament to be held from January 9 to February 6, 2022 in Cameroon.

This sponsorship deal will make Binance the exclusive cryptocurrency and blockchain platform for the AFCON 2021 tournament, as we leverage our global brand and technology in African soccer.

Binance will also be the official partner of the event, which will be promoted on CAF social media and at all six venues in five cities in Cameroon.

The TotalEnergies Africa Cup of Nations kicks off Sunday, Jan. 9, 2022, at 5 p.m. ET at the Olembe Stadium in Yaoundé, where host country Cameroon will face Burkina Faso. More than 160 countries will broadcast the tournament live to an audience of more than 300 million people. Open / Comment

2022-01-11 16:52:02 Bitcoin has not yet reached the "bottom"?

On Monday, January 10, bitcoin once again fell below $41 thousand. Now the first cryptocurrency is trading at $40.9 thousand, for the past 24 hours it has fallen in price by 2%. The coin is approaching the local low of $40.5 thousand, which was set two days ago.

Bitcoin continues to fall in price after it set a historical high of $69,000 last November.

The current levels cannot yet be characterized as a market bottom, said Victor Pershikov, lead analyst at 8848 Invest. According to him, to form the bottom the following conditions are to be met, which aren't observed yet: long flat (at least two months in the current circumstances) with accumulation of long positions and growth of open interest, decrease of BTC sales volume by market participants and clearness of speed and extent of tightening of monetary policy by global central banks. Open / Comment

2022-01-11 14:11:02 Hackers attacked new cryptocurrency app SaitaMask

The release of cryptocurrency application SaitaMask for mobile devices based on Android and iOS was marred by massive DDoS attacks, which disrupted the work of the program.

On January 9, Google Play and App Store users reported bugs in SaitaMask. People could not create accounts and complained about the lack of connection with the network. One of the disgruntled customers even called the creators of the software scammers. Later it turned out that the problems were caused by the hackers and not the software developers.

The program interface for registration in the application did not work properly due to a bot attack. We temporarily shut down the program to eliminate the consequences of the attack. We will inform about service recovery, - said the representatives of Saitama developer company.

A few hours later, engineers fixed the problems and noted that the purpose of the attack was to delay the release of the app. Open / Comment

2022-01-09 19:02:01 Bitcoin falls for the seventh day in a row

The coin has not seemed so weak since 2018 - unable to rise higher, and slowly sinking to the next support levels. Analysts are already arguing with might and main, the crypto winter has covered the market or is this another correction.

As for the 40,000 barrier, the last time the exchange rate went lower was in September last year, after the devastating news from China. Nevertheless, this did not prevent Bitcoin from updating its record high in two months – above $ 69,000.

BTC met its thirteenth birthday last week without enthusiasm, continuing its decline.

Analysts are inclined to believe that a sharper fall will follow after the decline, although until recently it seemed that a prolonged sideways movement could turn into a pump.

January has always been a weak month for Bitcoin, although this time it turned out to be too harsh – the asset has lost 11% since the beginning of the year. Open / Comment

2022-01-09 17:09:02 PayPal may issue a stablecoin

PayPal will explore the possibility of launching a US dollar-backed stablecoin. This is reported by Bloomberg with reference to the vice president of the company Jose Fernandez da Ponte.

According to him, if a decision is made to launch a stable coin, the payment giant will closely cooperate with regulatory authorities on this issue.

According to Bloomberg, developer Steve Moser discovered the first evidence of PayPal's research into the stablecoin sector in the company's iPhone app. According to him, the coin is called PayPal Coin.

A PayPal spokeswoman explained that the images and code inside the application appeared as a result of the hackathon. According to her, the final logo, name and functions of the product may change during development. Open / Comment

2022-01-09 15:17:02 Hackers withdrew almost $7 million from the hot wallet of the LCX bitcoin exchange

Hackers have hacked the hot wallet of the LCX bitcoin exchange registered in Liechtenstein. The company reported that ERC-20 tokens were stolen during the attack. The deposit and withdrawal of funds on the platform has been suspended for the duration of the investigation.

According to PeckShield analysts, hackers withdrew assets worth $6.8 million from the platform, including $3.43 million in USD Coin (USDC) stablecoin and $2.22 million in the LCX exchange native token.

According to online data, most of the stolen tokens have already been sent by unknown persons to the address of the Tornado Cash transaction mixing service. At the time of writing, a little more than $1.07 million in ETH and LCX remained in the attackers' wallet.

The Bitcoin exchange has not announced plans to return the stolen funds.

Recall that over the past ten years, the cumulative damage to cryptocurrency platforms and their users from the actions of Open / Comment

2022-01-09 13:06:01 New SBI e-Sports players will receive part of the annual salary in Ripple XRP

On the 7th, the professional esports team "SBI e-Sports" announced a change in the name of the team and the addition of new players to the popular FPS game. The Apex Legends division "SBI e-Sports Nova" was renamed to "SBI e-Sports", and it became known that a new contract with imPotqtq was signed.

Apex Legends is a first-person shooter in the "battle royale" genre distributed by Electronic Arts, in which three players form a team and 20 teams play a match. As for the annual salary of imPotqtq, part of it is "paid by the Ripple XRP crypto asset based on the wishes and sponsorship contract with SBI VC Trade Co., Ltd."

Earlier it was known that the US Federal District Court published a transcript of the August 31 conference call on the SEC case against Ripple.There was also information that Ripple's partner Tranglo is opening a payment corridor to Hong Kong. Open / Comment

2022-01-07 20:13:01 Thailand introduces a new tax on "cryptocurrency"

Despite the fact that the Ministry of Tourism of the Kingdom is trying to stimulate the nascent crypto industry, attract crypto asset owners to the country and revive the tourism industry affected by the coronavirus epidemic, these efforts are being nullified by the government, which intends to further tighten the regulation of transactions with crypto assets.

According to a Bangkok Post source in the Thai Ministry of Finance, from January 2022, a new capital gains tax of 15% will be introduced on all transactions with cryptocurrencies for private traders.

From this moment on, participants of the cryptocurrency market who profit from mining and other operations with cryptocurrencies are considered beneficiaries of cryptocurrency transactions. Profit is recognized as income and is subject to taxation. Miners will suffer more than traders, since the initial cost of mined coins is actually zero. Open / Comment