BitcoinInsider

Ripple's XRP has lost almost 40% of its value after the token price dropped from $0.51 on December 21 to $0.31 at the time of writing. The token's plunge appears to be the result of legal proceedings initiated against Ripple by the US Securities and Exchange Commission (SEC). At the time of writing, the fourth-ranked crypto token had seen traded volumes of $4.85 billion recorded in 24 hours. $1.3 Billion Lawsuit As data on markets.Bitcoin.com suggests, the sell-off of the XRP token appears to have been sparked by Ripple CEO Brad Garlinghouse's warning that the SEC was about to launch legal proceedings against the company. A day later, the SEC announced the $1.3 billion legal action against Ripple and two of its executives for allegedly conducting an unregistered security offering. Meanwhile, as the XRP token continues to plummet, an angry Garlinghouse has accused the US regulator of being biased against Ripple while appearing to give a free pass to BTC and ETH. In its dete...

Trezor has warned users of its hardware wallet about a phishing scam it said was related to an earlier hack on one of its competitors. The company said the attackers claim a user's wallet has been disabled, before redirecting to a clone site to steal their credentials. In a blog post, Trezor revealed that the attackers have been sending its users emails claiming they need to pass verification due to new KYC regulations. It then provided a website that's a replica of wallet.trezor.io on which the users can supposedly verify their identity. This site requests the users to key in their recovery seed, giving the attackers full control of the wallet. Trezor reminded its users that they "will not be asked to enter their seed anywhere other than on their Trezor device." It also assured its users that all their funds are safe and that no Trezor customer data has been leaked. "We continue to operate under a policy where we anonymize all customer data from e-commerce with...

As Ark approachs the launch of MarketSquare, we want to give our community an inside look at some of the partnerships we have formed. These strategic partnerships will not only help make MarketSquare the new homepage for the decentralized web but will also create inroads between ARK and other projects looking to build and collaborate together. Today we would like to introduce you to Magic.Link! What is Magic? Magic is a developer SDK that can be integrated into applications to enable passwordless authentication using magic links - similar to systems used by Slack and Medium. Once a developer integrates Magic into their application a user is able to sign up or log in by doing the following: A user requests a magic link be sent to their email address. The user clicks on the magic link The user is securely logged into the application. #Saying Goodbye to Passwords You may have noticed that this process occurs without the need for signing in or registering with a password. The benefits of p...

Digital currency holders in South Korea have been granted an extra three months before a new taxation rule is implemented. The rule was to be implemented in October 2021, but will now be delayed until January 2022. South Korea finalized its digital currency tax proposal in July, with the Deputy Prime Minister Hong Nam-Ki revealing it would take effect in late 2021. The rule requires Koreans to pay a 20% on digital currency profits above KRW2.5 million ($2,259). Soon after the government revealed the rule, several stakeholders in the digital currency industry were up in arms against it. Some felt that the industry was still too young to face such a huge tax cut. Yonsei University economist Sung Tae-yoon stated at the time: "It is premature for the government to impose cryptocurrency taxes at a time when the market has not developed enough in a stable manner. Any rash taxation or introduction of regulations can be a stumbling block for sustainable growth of the industry." The K...

The Waves Association announced on Wednesday a new grant program for cross-chain interoperability development. The pool consists of 1 million Waves tokens, worth approximately $3 million as of press time. Projects will be eligible for grants of up to 300,000 Waves to develop solutions for interoperability and cross-chain communication. There will be three separate types of grants: open grants, grants distributed through hackathons and Waves-focused grants. Sten Laureyssens, strategic advisor at the Waves Association, explained to Cointelegraph that open grants will have a wide scope: "For the open grant category, the grants are open to a wide variety of interoperability projects, that don't necessarily have to be connected to Waves. We're looking for creative solutions to connect existing blockchains and dApps." The latter two types of grants will have to adhere to certain requirements, which makes it likely that the Waves blockchain will be involved in some form. Nev...

Twetch, the social media app built on Bitcoin, exceeded 1 million transactions on October 27. This is a remarkable and significant milestone for the company, its users, and the Bitcoin ecosystem. The 1 million transaction milestone makes Twetch one of the few Bitcoin companies to put 1 million transactions on-chain. From the day Twetch launched to the 1 millionth tx, how long did it take to reach this milestone? From the day that we started, it took about 18 months to get our 1 millionth transaction. Is Twetch the first Bitcoin app to put 1 million transactions on-chain? Twetch is the first and most active application to have 1 million transactions on-chain; Ethereum cannot even dream of such a thing. Why should someone who has never used Twetch before give it a try and check it out? Twetch represents the future of the internet. It is ad-free, you can profit off of it, you own your own data, and the user is in total control. In a world where these big internet giants are the ones that ...

Joint work will be focused on developing a broader DeFi ecosystem using the Gravity cross-chain communication protocol. We are excited to announce a collaboration between Waves and Fantom. Waves and Fantom are committed to building an open ecosystem between different chains, based on the Gravity protocol, which is essential to the DeFi industry's wider success. Under the collaboration deal, WAVES, the native utility token of the Waves ecosystem, will join Fantom's DeFi ecosystem as collateral for minting synthetic assets, including fUSD, Fantom's stablecoin pegged to the US dollar. WAVES holders will be able to use fMint to access fUSD and other synthetic assets, which can be used with other Fantom DeFi products. Specifically, fLend allows users to lend and borrow assets, while fTrade allows users to trade them. For instance, If you want to go long BTC (without losing exposure to your WAVES collateral), mint fUSD against your WAVES in fMint and use the fUSD to buy fBTC (syn...