Ford Restructuring for Billions: Jobs Lost as Recession Seems Inevitable

There is much debate on how the ongoing trade wars will affect US-based companies. At the moment, bitcoin looks like the biggest winner from the trade wars. Both China and the United States will continue to lose if an agreement is not reached. Ford restructuring for over $11 billion is just one of the many US companies feeling the aftermath of the trade wars. According to Bloomberg, the Ford restructuring will cost over 7000 people their jobs in this year alone. Ford believes that this move will result in billions…

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Coineal Exchange is Listing ILCoin

Coineal exchange lists ILCoin. On the 20th of May 2019, the quantum resistant blockchain project ILCoin began trading on Coineal – a world-leading digital asset exchange. World’s cryptocurrency conjuncture. A recent study conducted by Dalia Research was aimed at assessing the number of people aware of cryptocurrency. A 24-hour rapid survey was held among over 29000 internet connected people in eight largest crypto markets, namely: the US, the UK, Germany, Japan, China, Brazil, India, and South Korea. The results revealed that 75% of all respondents have heard about cryptocurrencies. Considering…

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Virtual Racing Car in Blockchain Game Sells for Over $110,000

An unknown user bought a unique, virtual racing car for the upcoming blockchain-based game F1 Delta Time for 415.9 ETH ($110,600). An unknown user bought a virtual racing car for upcoming blockchain-based game F1 Delta Time for 415.9 ether (ETH) or $110,600 at the time of sale, according to information on the game’s website. The virtual racing car — the “1-1-1” — is the first model to be issued and is also one-of-a-kind, with the auction page promising to never release more. The company behind the game, Animoca Brands, ran…

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Bitwise White Paper: Fake Trading Volumes by Exchanges Do Not Impact BTC Prices

Following research claiming that 95% of volume on unregulated exchanges is fake, Bitwise clarified that it does not impact BTC’s price. American crypto investment manager Bitwise released a paper claiming that fake trading volumes by crypto exchanges do not impact bitcoin’s (BTC) price. Released on May 24, the white paper is an extended version of Bitwise’s March presentation alleging that 95% of volume on unregulated exchanges is fake. Published on the official website of the United States Securities and Exchange Commission (SEC), the new white paper is based upon the…

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Teen Crypto Millionaire on Bitcoin Issues: Arrogance or Truth

Erik Finman, the teen crypto millionaire has made some bold statements about bitcoin’s current issues. He went as far as to say that the first cryptocurrency might die if its issues are not swiftly resolved. Finman told Yahoo Finance that there are four major issues which are currently plaguing bitcoin. He believes that complexity, high transaction fees and slow process speed are the first three technical issues. The teen crypto millionaire believes that the terrible relations between the development teams is the 4th issue which might be the worst one…

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SIM Hijackers Upping Their Game: Cyber Security Importance

It shouldn’t come as a surprise that SIM hijackers who target cryptocurrencies are innovating. Usually, the most preferred targets are people with cryptocurrencies who have little to no technical knowledge. Recently however, SIM hijackers have definitely upped their games and the level of their targets. Sean Coonce is the engineering manager at BitGo and he recently fell victim to SIM hijackers. In a brave move, Coonce publicly stated that he lost more than $100 000 from his Coinbase account. The entire process took less than 24 hours and there were…

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German Watchdog Warns Public About Alleged Hiring by Crypto Exchange CoinBene

Financial regulator BaFin has warned that cryptocurrency exchange CoinBene is not properly registered or licensed in Germany. The Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator, has issued a public warning about cryptocurrency exchange CoinBene on May 28. The watchdog says that CoinBene has been recruiting freelance crypto traders who get paid on commission. BaFin states that since crypto assets are financial instruments, trading them requires authorization under Germany’s Banking Act, or Kreditwesengesetz (KWG). BaFin states that CoinBene is not listed in Germany’s commercial register and has not obtained proper…

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Kik Launches $5 Million Crypto Funding Campaign for Lawsuit Against US SEC

Kik’s lawsuit aims to force the U.S. SEC to give a ruling which will help clarify their regulatory stance towards crypto and ICOs. Canadian tokenized social media startup Kik has launched a $5 million crypto initiative to fund a lawsuit against the United States Securities and Exchange Commission (SEC), Kik CEO announced in the crypto-focused Unchained podcast by Laura Shin on May 28. Ted Livingston, Kik CEO and founder of Kik’s crypto project the Kin Foundation (KIN), revealed the formation of DefendCrypto fund to legally challenge the U.S. SEC in…

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