Binance Burns $60,500,000 in BNB, the Largest in Crypto Asset’s History

Binance just removed 3,477,388 Binance Coin (BNB) worth $60.5 million from circulation – the largest in the crypto asset’s history. The crypto exchange giant is performing coin burning events every quarter until it destroys 100 million BNB from circulation, representing half of the total 200 million BNB ever issued. The number of BNB tokens set to be burned is determined by the number of trades performed on Binance in a three-month window. The strategy aims to reduce the supply of BNB and increase its value.  “This burn, which represents trading activity across Binance spot,…

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Dogecoin Surges After Elon Musk Pimps Canine Crypto, Addresses Bitcoin (BTC) Giveaway Scam

Dogecoin (DOGE) is once again on a tear – up nearly 10% in its US dollar and Bitcoin pairs at time of writing – after Tesla chief executive Elon Musk pimps the canine crypto. In a viral tweet, Musk posted a meme suggesting that the cryptocurrency, which was introduced as a joke cryptocurrency in 2013, could take over and become the global reserve currency. Following the tweet, Dogecoin climbed as high as $0.003835 on Saturday –  nearly a 20% surge according to CoinMarketCap. When asked by one of his followers where…

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Top Analyst Says Bitcoin, Ethereum and XRP Poised to Breakout, End Lengthy Consolidation

Crypto strategist Michaël van de Poppe is bullish on Bitcoin (BTC), Ethereum (ETH), and XRP. In his latest crypto overview, van de Poppe says he believes Bitcoin is about to make a big move and end its three-month-long consolidation above $9,000. “So most likely, we’re going to see a rejection again at $9,170 and then another test of support. Then, I’ll assume we’re going towards $9,000 and hold there. The breakout of this structure will probably lead towards the rally of $9,300 first then retest and continuation… I think if we break…

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Hackers Hack Telecom Argentina, Demand USD 7.5 Million In Monero

Telecom S.A., the largest telecommunications company in Argentina, has suffered a ransomware attack as hackers demand USD 7.5 million in privacy coin Monero (109,345 XMR) to be paid until the night of Tuesday, July 21. If the company does not meet the deadline, the payable amount will rise to USD 15 million (218,690 XMR). Per the local news outlet, the attack has not affected users or internet and telephone services provided by Telecom Argentina S.A. Still, the company has reportedly lost access to Office365 and OneDrive files. Other affected internal systems…

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Crypto Insider Traders Run Free, Hurting Unregulated Market

Insider trading has a toxic effect on crypto, deterring the wider public from investing. “Regulation is definitely needed and the right answer.” The crypto industry has an insider trading problem. While no official laws or regulations explicitly prohibit insider trading within crypto, industry observers suspect that it happens more often than you think. Few crypto exchanges and companies are actually listed on traditional stock exchanges, so ‘insider trading’ in the normal sense doesn’t happen in crypto. Nonetheless, insider trading has its forms within crypto. It could be a group of…

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Is There A World Beyond YouTube for Crypto?

The relationship between the communications giant Google and the cryptoasset industry can be characterized as somewhat antagonistic. Now, its video-sharing platform, YouTube seems to be on the offensive, de-platforming some crypto-related content creators, leaving them looking for viable alternatives. No tube for you As early as 2019, reports began to emerge from content creators within the cryptosphere who claimed that they were receiving warnings from YouTube about the content in their videos. In many cases, videos were removed, forcing the content creators to appeal the decision. In more extreme cases, some content creators found their…

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Expect More M&As As New Type of Buyers to Compete With ‘Crypto Octopuses’

M&A activity might pick up in H2 2020 and early 2021. M&As will be determined by the quality and impact of targets. European crypto exchanges are among potential targets. Traditional financial institutions and tech companies might become active buyers Mergers and acquisitions (M&A) in the crypto industry are likely to increase in the second half of 2020, despite the ongoing COVID-19 pandemic. This is the opinion of industry players working in crypto and blockchain, who believe that the bigger companies are likely to step up their mergers and acquisitions in…

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Crypto Sector Baffled as Mysterious Report Calls Chainlink a ‘Fraud’

Social media and crypto sleuths are attempting to uncover the truth about a report that has been circulating claiming to tell the damning truth about Chainlink, the operator of the LINK token – one of the year’s best-performing major altcoins. The report is allegedly the work of a company named Zeus Capital, who have labeled Chainlink a “fraud.” Zeus Capital claims to be an “asset management and research firm,” although its website appears to be very low on content – hosting very little other than the aforementioned report. Contact details are also few and far between,…

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Bitcoin Pioneer LN Markets Raising Capital, Building ‘Liquidation Killer’

LN Markets, the first bitcoin (BTC) derivatives exchange built on top of the Lightning Network (LN), reached USD 6m in total aggregate trading volume and is now raising capital in order to accelerate its growth. The platform was launched in December 2019 in Beta, while their Alpha version went live in March this year. Since December, the exchange has processed over 22,000 trades. The company started their fundraising process a few weeks ago, LN Markets co-founder Romain Rouphaël told Cryptonews.com, declining to elaborate any further. Currently, the platform has around 1,000 daily active users. Trading…

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