• Crypto hackers often walk around wearing hoodies and holding useless tokens of fake bitcoin around just in case they get photographed (via Pixabay).
    Cryptocurrencies,  Technology

    MIT’s Stuart Madnick says blockchain’s biggest strengths can also be weaknesses

    Poloniex exchange lenders lost $14.4 million to flash crash decentralization made possible

    An MIT professor’s June 6 warning about some of blockchain’s vulnerabilities came too late for margin lenders on U.S. cryptocurrency exchange Poloniex, who lost nearly $14.4 million in bitcoin to a flash crash early last week.

  • According to Bitwise, CoinBene is a 'suspicious' exchange (via Bitwise).
    Bitcoin

    95% of all Bitcoin trades are fake, Bitwise tells SEC

    In a filing to gain approval of an ETF, Bitwise Asset Management proposes tracking 10 ‘honest’ exchanges to alleviate market manipulation concerns

    In an attempt to gain regulatory approval for a Bitcoin exchange traded fund (ETF), Bitwise Asset Management attacked the accuracy of data listed on cryptocurrency tracking site CoinMarketCap.com. The claim came in a study filed with the U.S. Securities and Exchange Commission and made public on March 21.

  • Dollar coins
    Alt coins,  Tether,  United States

    Circle and Coinbase stablecoin not approved by regulator

    Both companies are regulated, but their coin is another story

    Circle’s “stablecoin” just got a big boost from one of the largest retail cryptocurrency exchanges, but there’s a nuanced issue: the token itself isn’t regulated, at least as far as one of its overseers is concerned. On Tuesday, Circle—the peer-to-peer payment service that owns crypto exchange Poloniex—and Coinbase announced the launch of CENTRE, a consortium that aims to facilitate the adoption of stablecoins. Those are tokens that are supposed to be pegged to fiat currencies by holding them in reserves. Circle’s USD Coin (USDC) is being marketed as safe, allowing users to “move dollars anywhere in the world in minutes instead of days. Cheaply and securely.” What’s more, Circle’s status…