Bitcoin Goes to Spain’s Congress of Deputies; All 350 MPs Receive BTC Donation

Bitcoin has found its way to the Congress of Deputies of Spain as the members of parliament experiment with the cryptocurrency through the courtesy of Tutellus, a Spanish blockchain-based educational platform, and local crypto media, Observatorio Blockchain. According to the report today, all 350 deputies in the lower house of the Cortes Generales became Bitcoin holders after receiving one euro ($1.18) worth of BTC as an experiment. Tutellus donated the BTC to the congress’ ten parliamentary groups since the initiative organizers could not access the email addresses of all 350 deputies on the congress’ website.  Explaining how the BTC was sent to

PrimeXBT Analysis: Why The Oil Outlook Is “Worsening” For Year-End

While more profitable opportunities in 2020 were focused around Bitcoin, stock indices, and precious metals, that didn’t stop oil trading from stealing the show earlier this year as the world watched in awe as prices had a catastrophic collapse that made Black Thursday look more like a light shade of grey. After the fallout, oil prices have remained “relatively flat,” but the outlook is now “worsening,” according to PrimeXBT lead analyst Kim Chua. Chua also reveals that oil is among the worst-performing assets of Q3, closing out September with a 10% fall, and what a further negative year-end looks likely.

Arrested BitMEX CTO Samuel Reed released on $5 million bond

A court document released today revealed that BitMEX’s former CTO Samuel Reed arrested in connection to the lawsuits against the exchange, has been released on a $5 million appearance bond.  On Oct 1, Coinfomania reported that U.S. regulators charged crypto derivatives giant BitMEX and its co-founders for operating an unregulated trading platform and failure to establish and maintain a mandatory anti-money laundering (AML) and Know Your Customer (KYC) requirement. Following the filings, Reed was charged and arrested by the U.S. Department of Justice. However, he has been released with an unsecured $5 million appearance bond with $500,000 in cash.  According

BIS, Central Banks Publish Criteria for Issuing Digital Currencies

A group of central banks, in collaboration with the Bank for International Settlement (BIS), has published a report, stating how Central Bank Digital Currencies (CBDCs) should be designed in order to align with the banks’ policy objectives.  Participants in the report include the European Central Bank (ECB), Bank of Canada, Bank of Japan, Sveriges Riksbank, Swiss National Bank, Bank of England, and the Federal Reserve.  In the 26-page paper published today, the banks stated that the research became imperative as fiat currencies’ demand keeps declining in some advanced economies.  Despite the decrease in demand for fiat, the participating banks noted that

RippleNet Launches Line Of Credit For Instant Cross Border Payments

In a bid to actualize it dreams to enable Internet Of Value, the U.S-based fintech company Ripple has announced the launch of Line Of Credit, a new beta service built on RippleNet. According to the announcement, the latest launch will enable instant cross-border payment solution for Ripple’s customers using the On-Demand-Liquidity (ODL) platform.  The Line Of Credit solution is an initiative geared towards meeting the demands of companies with potentials for growth but lack substantial capital to implement business projects. Per the announcement, the new credit services solution is not a loan subject to tax payment but a project that

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

Square Buys 4,709 BTC ($50 Million), Predicts Mass Adoption for Bitcoin

Popular US-based financial services company, Square has announced that it purchased approximately 4,709 Bitcoin (BTC) valued at $50 million.  According to a press release today, the firm said it made the investment because of the economic potential of BTC.  Square’s investment in Bitcoin represents approximately 1% of the firm’s total assets published for Q2 2020, the firm stated.  Amrita Ahuja, Chief Financial Officer at Square, said the firm is confident that Bitcoin will become a household asset and will gain mass adoption than other currencies in the future. As BTC grows in adoption, we intend to learn and participate in a

Arthur Hayes Steps Down as CEO at 100x Following CFTC Charges Against BitMEX

It’s been a trying time for crypto derivatives giant BitMEX and its associates following the recent legal filings in the United States. Coinfomania reported last week that the US Commodity Futures Trading Commission (CFTC) filed civil charges against BitMEX and its founders for several rule violations.  The CTFC alleged that the company violated its rules by operating an unregulated exchange while also failing to implement a mandatory anti-money laundering (AML) know-your-customer (KYC) requirements for US traders.  Auther Hayes steps down Following the lawsuit, 100x Group, the holding group for HDR Global Trading Limited, owner and operator of the BitMEX exchange,

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

Japanese Financial Service Giant SBI Buys TaoTao Crypto Exchange

Just two days after Japanese crypto exchange TaoTao ended its 10-months long strategic partnership talks with Binance, financial service giant SBI has acquired the exchange.  The negotiation between Binance and TaoTao, which started in January and was concluded this month, was part of Binance’s effort to debut the Japanese market.  However, today’s announcement revealed that SBI had acquired 100% of TaoTao’s share for an undisclosed amount. As a result, the Japanese licensed crypto exchange has become a wholly-owned subsidiary of SBI Liquidity Market.  The reason why the negotiation between TaoTao and Binance was unfruitful remains unknown as neither of the