Mt. Gox Crypto Exchange Begins Civil Rehabilitation Proceedings, Ends Bitcoin Sell-Offs

Defunct Bitcoin exchange Mt. Gox has formally entered civil rehabilitation proceedings, officials announced June 22. A statement and accompanying documentation confirm the move, which will see attorney Nobuaki Kobayashi act as civil rehabilitation trustee. Kobayashi was responsible for selling vast tranches of Bitcoin reserves beginning Q4 last year to reimburse Mt. Gox users who lost money in the exchange’s mass hack in late 2013. The sell-offs appeared to have a conspicuous effect on markets, Bitcoin prices tumbling immediately following each transaction, which Kobayashi performed on major exchanges. “The power and…

Irish Bitcoin Broker Claims Country’s Banks Are Closing Crypto-Related Accounts

The co-founder of Irish Bitcoin (BTC) broker Eircoin accused the Banking and Payments Federation of Ireland (BPFI) of discriminating against crypto-related accounts, The Irish Times reports June 21. Dave Fleming blamed the BPFI for, “seeking to muddy the waters with insinuations of dirty money.” Eircoin, which is reportedly “Ireland’s only Bitcoin broker,” was closed in April. The firm’s co-founder Dave Fleming said they were “shuttered due to a negligent and defensive banking system”. According to Fleming and his business partner Roisin Coogan, banks also refused banking services to a new…

Robinhood Stock Trading App | Applying for a National Banking Carter

Robinhood stock trading app: A National Banking Charter is attractive to many financial tech companies but alas! it is very hard to get. That hasn’t stopped California-based stock trading app Robinhood from approaching regulators at the Office of Comptroller of the Currency (OCC), with an ambition to acquire necessary licenses allowing it to receive a national banking charter. This would effectively class the platform as a bank.  The idea is to become a more official banking platform, covering all bases; from cryptocurrency to stocks and fiat accounts for its customers. Currently, Robinhood boasts…

Charlie Lee On CNBC | Bithumb Hack, Bitcoin Price, & Lightning Network

Charlie Lee on CNBC: Charlie Lee, founder of Litecoin (LTC), chatted with CNBC about the recent Bithumb hack, Bitcoin price, and the Lightning Network. Charlie Lee on CNBC: Bithumb Hack The South Korean crypto exchange Bithumb was hacked earlier this week, with a total of USD $30 million in crypto being stolen. It was enough to shift the exchange from its sixth-place ranking for daily trading volume down to seventh. Along with the loss of crypto from the exchange, many cryptocurrencies’ prices plummeted from the resulting panic, including Bitcoin (BTC).…

Bitcoin’s Value Is in the Eye of the Beholder

This interview has been edited and condensed. Recently at BlockShow Europe 2018, Cointelegraph got the chance to speak to Bobby Lee — co-founder of Chinese crypto exchange BTCC and a board member at the Bitcoin Foundation —  about what he’s been up to in the crypto space since BTCC shut down last fall. Molly Jane: In the past few months, Chinese crypto regulations have steadily been increasing, from the ICO ban in the fall of last year, the January ban of “exchange-like services,” and the February ban of foreign exchanges.…

Analysts Concerned About Crypto Mining Impact on AMD Share Price

While Advanced Micro Devices Inc.’s (AMD) shares have seen substantial growth in the past month due to a cryptocurrency mining boom, two analysts warn that investors could be disappointed should mining die down, MarketWatch reported June 20. In the past month, AMD’s stock has gained around 30 percent thanks to the graphic processing units (GPUs) produced by the company, which have established themselves as effective hardware for crypto mining. Some analysts, however, have expressed concern that the recent success of AMD’s stock may not last long if crypto mining quiets…

Another Celebrity Enters the Crypto Market – Crypto Currency News

Akon launches Akoin: To add to the list of celebrities that have been entering the cryptocurrency market, singer Akon has announced that he has launched his own cryptocurrency called Akoin. Akon Launches Akoin: Cannes Lions 2018 Akon announced his new coin Akoin at the Cannes Lions 2018 ‘Blockchain, Entrepreneurship and Empowering the Future’ panel on Saturday, June 18th. Leading up the event, Akon tweeted about his upcoming stint at on the panel. I’ll be speaking at @Cannes_Lions today on “Blockchain, Entrepreneurship and Empowering the Future…Come check it out at 3:30…

Exchange Leftover Euros for Cryptocurrency at the Schipol Airport!

We all know it can be a pain to exchange foreign currency, but Amsterdam’s Schipol Airport is trying to help people avoid that hassle. Travellers going through Schipol Airport will now be able to exchange any leftover euros for cryptocurrency! Specifically, people will be able to trade euros for Bitcoin (BTC) or Ethereum (ETH) at one of the several Bitcoin ATMs that have been set up at Schipol’s Arrival Hall 2 and its Departure Halls 1 and 2. According to the official press release reported on Wednesday, the ATMs are currently on…

US Fourth Largest Mobile Provider Partners on Automotive Blockchain Platform

The U.S.’ fourth-largest mobile network operator Sprint has partnered with blockchain startup NXM Labs to launch a 5G connected car platform powered by blockchain technology, the companies confirmed June 20. Sprint, which served 54 million US customers as of October 2017, will use the platform and its LTE network to provide passengers with mobile wifi, vehicle health monitoring and what it describes as the world’s “first blockchain powered Internet-of-Things (IoT) security system that guards against hackers.” “Through the power of blockchain technology, NXM provides an advanced level of security and…

World’s Sixth Largest Crypto Exchange by Trade Volume Bithumb Hacked

Hackers have stolen cryptocurrencies worth $30 million from South Korea’s leading virtual currency exchange Bithumb, Cointelegraph Japan reported June 19. As a result all deposits and payments have been temporarily suspended. *All deposit and withdrawal service will be stopped to make sure the security. We will keep notice you of the restart of the service. We apologize for your inconvenience and thanks for your understanding. — Bithumb (@BithumbOfficial) June 20, 2018 The exchange states it will compensate users affected by the hack, and that all assets are being moved to…