SCOOP: NEXO Users Laments Supposed Unjust Liquidation Of 7M-8M XRP After Ripple Lawsuit

Many XRP holders scrambled for the exit in the aftermath of the SEC’s recent lawsuit against Ripple Labs, forcing the coin’s price to slump by over 60% within a few months. During that chaotic market stint, many Nexo users suddenly realized that they could no longer repay their loans on the platform using XRP assets. Nexo is a crypto lending and borrowing service that currently boasts over $4 billion in assets under management. Its primary product, the NEXO Credit Line, allows users to borrow fiat or stablecoins and then use crypto assets to deposit on the platform as collateral. The

Binance Now Supports Deposits to SegWit Bitcoin Addresses

Leading cryptocurrency exchange, Binance announced today that it now supports deposits to Native Segwit addresses for Bitcoin transactions. As part of a recent platform upgrade, Binance users are now provided with SegWit (bech32) addresses and can opt to receive funds through this channel in addition to being able to withdraw to external wallets. Binance decision to support Segwit deposits comes roughly three years after bitcoin developers first activated the protocol via a soft fork in 2017. Segregated Witness (shortened as SegWit) is a protocol upgrade that separates bitcoin transaction signatures from transaction data, thus allowing for more transactions to be

SEC Officially Charges Ripple for Conducting $1.3 Billion XRP Token Sale

The United States Securities and Exchange Commission (SEC) has officially charged San Francisco-based startup Ripple and its executives, Chris Larsen and Brad Garlinghouse, for conducting unregistered securities sales involving XRP. The announcement comes less than a day after Garlinghouse disclosed that the SEC had contacted his company regarding the upcoming lawsuit. The Ripple CEO vowed to defend the lawsuit and described the SEC move ‘as an attack on crypto.’ In the lawsuit filed today in federal district court in Manhattan, the SEC alleged that Ripple and its executives violated the U.S Securities Act’s registration provisions and continue to offer XRP

$7.3Trn AUM BlackRock Exec Believes “Functional Bitcoin” Will Replace Gold to a Large Extent

Rick Rieder, Chief Information Officer (CIO) of fixed income for New York-based asset manager, BlackRock has become the latest to throw his weight behind Bitcoin as a potential replacement for gold. Rieder shared his thoughts on the subject in a CNBC Squawk Box appearance today, arguing that Bitcoin and cryptocurrencies are ‘here to stay’ primarily because of Millenials’ receptivity to technology and digital payment systems. His opinion contrasted that of JP Morgan CEO Jamie Dimon who said earlier this week that the government would be to regulate Bitcoin if the price continues to grow. Rieder told CNBC that he

Mexican Billionaire Ricardo Salinas Confirms He Has 10% of His Liquid Portfolio in Bitcoin

Mexican businessman, Ricardo Salinas Pliego has become the latest billionaire to voice public his admiration for Bitcoin. Ricardo Pliego ranks 165 on Bloomberg’s Billionaire Index and has a net worth that is north of $11.8 billion. He is among the fifth richest people in Mexico. He made a tweet about Bitcoin today, describing the cryptocurrency as a tool that “protects citizens from government expropriation.” Pliego revealed that he had 10% of his liquid portfolio in Bitcoin and at the same time recommended that prospective investors read “The Bitcoin Standard,” the award-winning book by Bitcoin educator, Saifedean Ammous. Hoy les recomiendo

Locked Out Coinbase User From 2015 Sees Their $1 Bitcoin Turn $65

It is not every day that Bitcoin investors get a reminder of how quickly the crypto-asset has grown through the years and its potential to replicate such a massive increase in the future. Allen Walton of Spyguy.com recently shared one such story on his Twitter handle, revealing how a $1 worth of Bitcoin he had received sometime in 2016 was now worth around $65. The $1 in bitcoin in February 2015 was worth around 0.003696 BTC, with Bitcoin trading at a roughly $249 price per coin on the day. The amount was credited for completing a bank verification process on

A Fake Uniswap App is Circulating on Google Play Store With 5k+ Downloads

Cryptocurrency enthusiasts spotted a fake application listed on the Google Play Store. The app claims to be a mobile version of popular Ethereum-based decentralized exchange, Uniswap.  The Fake Uniswap App was flagged on Reddit by user r/jteepi, who called on the Ethereum community to report the app to Google, with the hope that multiple reports would lead to a delisting.  A search for “Uniswap” on Google Play Store returns search results with the fake mobile app listed on top of the pile. In total, the app has over 5,000 downloads, apparently including some from its creators who inflate numbers to

Crypto Lender Celsius Suffers 13-Hour Downtime, Leaving Users Worried of Another Cred Story

The website for cryptocurrency borrowing and lending platform, Celsius has been offline in the last four hours leading up to press time. Users are fearing a repeat of what happened to a major competitor, Cred earlier this week, but Celsius has assured it is only a downtime relating to its domain name service (DNS). The company was supposedly “preparing for the alpha release of the new Celsius Web App and needed to do some DNS configuration,” before encountering issues with its domain provider. Hey Celsians, in case you missed our email update, here is the latest information regarding our front-end

Investors Count Losses: DeFi Project CBDAO (BREE) Pulls The Rug for Over $1 Million in ETH

Investors in the DeFi project, CBDAO (BREE), are scratching their heads after it became evident that the persons behind the project have vanished. The project’s website, Telegram group, and Twitter handles are no longer online, with the total lost funds exceeding over $1 million in ETH. At the time of writing, the BREE token which had traded as high as $50 in early September was trading at a $0.43 price, representing a 99.1% decrease from that all-time high. CBDAO exit scam According to information from its now-deleted website, CBDAO dubbed the “Ultimate DAO sandbox” was a DeFi project that promised

SCOOP: Is There Truth to Uniswap Devs Using Front-End to Drain Hundreds of ETH Daily?

Decentralized exchange protocol, Uniswap is well on track to end the year on a high, thanks to the DeFi boom, which boosted trading volumes on the platform to the same levels as more established centralized exchanges, including Coinbase. The protocol has thrived mainly as a result of its decentralized ethos. However, a single point of centralization, such as the Uniswap V2 front-end managed by Uniswap founder Hayden Adams and his team, has recently come under fire for arbitrage loopholes on the platform. Alessandro Mario Lagana Toschi of the Ethereum-based research team, DFOhub, recently published an exhaustive report explaining how routing