• Coronavirus hits darknet revenues
    Bitcoin

    Even drug dealers are hurting as coronavirus hits darknet revenues

    Blockchain intelligence firm Chainalysis finds bitcoin spending is dropping on darknet markets and gambling sites, but not legitimate merchants; crypto scammers are stepping up

    The pandemic's economic destruction is so bad that even retailers of what may be the most recession-proof product there is—illegal narcotics—are feeling the pinch as coronavirus hits darknet revenues.

  • Buterin wants bitcoin-ether DEX
    People,  Technology

    Vitalik Buterin: Lack of bitcoin-ether bridge ‘embarrassing’

    In a candid tweet, the Ethereum co-founder said it was ‘embarrassing that we still can’t easily move between the two largest crypto ecosystems trustlessly’

    Ethereum co-founder Vitalik Buterin has called for a decentralized exchange to be built that enables swaps between bitcoin and ether. At present, those who want to convert their BTC into ETH, or vice versa, have little choice but to rely on centralized crypto exchanges, which often charge fees.

  • Did an inaccurate story claiming Chinese police raided Binance's Shanghai offices really knock $1,000 off the price of bitcoin? (Mussi Katz, via Flickr)
    Media

    EXCLUSIVE: The Block and Binance were working on a deal. Then a fight broke out.

    A lucrative partnership was lost after a cryptocurrency billionaire called a reporting error malice and demanded that journalists act as cheerleaders

    The Block and Binance were working on a potentially lucrative strategic partnership for more than a month, a source with knowledge of the negotiations told Modern Consensus. Then, on Nov. 21, the crypto news and research site published a story claiming that a police raid forced Binance out of its Shanghai offices. Not only was that wrong—at least about the police raid part—it enraged  cryptocurrency exchange Binance’s billionaire CEO, Changpeng “CZ” Zhao. He promptly jumped on Twitter, telling his 450,000 followers that The Block’s story was a lie. There was no raid, he said, and Binance hasn’t had a Shanghai office for two years. During the four-day Twitter fight that…