The Diplomat: How Will China’s Sovereign Digital Currency Affect Fintech?. “China’s sovereign digital currency is still in the testing phase, but has caused speculation about what effect it will have on fintech. Some experts have asserted that the digital currency will crowd out payment methods WeChat Pay and Alipay. Others have stated that China’s sovereign digital currency will boost the fintech industry overall since it is electronic. So, how can we reasonably predict will the effect of the digital currency will be on China’s fintech industry?”
Washington Post: He believed Apple’s App Store was safe. Then a fake app stole his life savings in bitcoin.
Washington Post: He believed Apple’s App Store was safe. Then a fake app stole his life savings in bitcoin.. “Phillipe Christodoulou wanted to check his bitcoin balance last month, so he searched the App Store on his iPhone for ‘Trezor,’ the maker of a small hardware device he uses to store his cryptocurrency. Up popped the company’s padlock logo set against a bright green background. The app was rated close to five stars. He downloaded it and typed in his credentials. In less than a second, nearly all of his life savings — 17.1 bitcoin worth $600,000 at the time — was gone. The app was a fake, designed to trick people into thinking it was a legitimate app.”
Reuters: India to propose cryptocurrency ban, penalising miners, traders: source. “India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class.”
Washington Post: What is an NFT, and how did an artist called Beeple sell one for $69 million at Christie’s?
Washington Post: What is an NFT, and how did an artist called Beeple sell one for $69 million at Christie’s?. “Using the same principles behind cryptocurrencies such as bitcoin, NFTs allow people to claim ownership over specific digital files, be they songs, videos or static images. Beeple, whose real name is Mike Winkelmann, is the latest beneficiary of a rush into NFTs that’s a side effect of the fast-growing interest in digital currencies and the technology behind them.”
CNET: Facebook’s controversial Libra cryptocurrency could launch in January. “Libra, the cryptocurrency spearheaded by Facebook, could launch as early as January, according to The Financial Times, which reported that the project will likely be even more limited than its already stripped-down plan.”
Livemint: BitBuddy launches Bitcoin explorer- a web tool to access all Bitcoin statistics. “The users can access every record of Bitcoin from explorer, including the real-time Bitcoin statistics, mining difficulty rate, and Bitcoin transfer hash. This unique interface can also be used to track and understand all insights of the Bitcoin blockchain. Additionally, it also provides the transaction status done via Bitcoin, a crypto asset.”
ZDNet: Exclusive: Google removes 49 Chrome extensions caught stealing crypto-wallet keys. “Google has removed 49 Chrome extensions from the Web Store that posed as legitimate cryptocurrency wallet apps but contained malicious code that stole crypto-wallet private keys, mnemonic phrases, and other raw secrets.”
FBI: FBI Expects a Rise in Scams Involving Cryptocurrency Related to the COVID-19 Pandemic. “Fraudsters are leveraging increased fear and uncertainty during the COVID-19 pandemic to steal your money and launder it through the complex cryptocurrency ecosystem. People of all ages, including the elderly, are being victimized by criminals through cryptocurrency-related fraud schemes. Developments in cryptocurrency technology and an increasing number of businesses accepting it as payment have driven the growing popularity and accessibility of cryptocurrency. There are not only numerous virtual asset service providers online but also thousands of cryptocurrency kiosks located throughout the world which are exploited by criminals to facilitate their schemes. Many traditional financial crimes and money laundering schemes are now orchestrated via cryptocurrencies.”
BBC: Facebook ‘rethinks’ plans for Libra cryptocurrency. “Facebook is reportedly rethinking its plans for its own digital currency after resistance from regulators. It is now considering a system with digital versions of established currencies, including the dollar and the Euro, according to Bloomberg and tech site The Information.”
CoinWorld360: Brave New Coin’s new tool uses artificial intelligence to track emotions of the crypto community on Twitter
CoinWorld360: Brave New Coin’s new tool uses artificial intelligence to track emotions of the crypto community on Twitter. “Brave New Coin (BNC), a New Zealand research company specializing in blockchains, has introduced a new system for assessing the emotions of the Bitcoin community based on Twitter messages. According to the BNC, the new Twitter Sentiment assessment system analyzes over 34 million Twitter feeds related to the bitcoin every week. The firm uses artificial intelligence algorithms that look for entries containing the words bitcoin, $BTC and BTC and others.”
Decrypt: A malicious Google Chrome extension cost one user $16,000. “A user of a malicious cryptocurrency wallet, Ledger Secure, claims to have lost $16,000 worth of the privacy coin Zcash. Ledger Secure, an extension for Google Chrome, isn’t related to Ledger, the hardware wallet makers of a similar name. Instead, it passes a user’s seed phrase back to the creator of the extension, claimed @BTCSchellingPt.”
Slate: What to Salvage From the Wreckage of Libra. “… the 1.7 billion users of Facebook’s platforms outside the U.S. and Europe actually could use something like Libra to store and transfer money. These users would take on most of the risk and harm if things go wrong with Libra. And if everything went right—it’s a big if—they’d gain the most too. It’s why, even if Libra is dead in the water, I hope the idea behind it isn’t.”