Blockchain and Cryptocurrency: People, Culture and Tech
Less than 12 hours after it was announced, Facebook’s new libra cryptocurrency was already causing the kind of concern in European financial circles that even Bitcoin has not been able to generate.
Just as international financial regulators are about to announce stronger "know your customer" requirements for cryptocurrencies, banking giant JPMorgan Chase has released software designed to help people avoid them.
In an update on the $40 million-plus theft of 7,000 Bitcoin on May 7, Binance CEO Changpeng “CZ” Zhao suggested that the cryptocurrency exchange industry may create a more formal alliance to fight thefts and try to prevent thieves from getting away with their ill-gotten gains.
Part of Bitfinex’s “missing” $850 million is now in the hands of the U.S. Department of Justice. Meanwhile, a controversial businessman was arrested for falsely setting up accounts that let exchanges—including Bitfinex, based on claims in the indictment—skirt bank rules and the law.
