Category Archives: Blockchain

Known Bug in Brazilian Bitcoin Exchange Foxbit Sees Users Lose 58 BTC

Brazilian cryptocurrency exchange Foxbit has recently revealed that, via the BlinkTrade trading platform, it updated its login process, making it safer for users. The update may be too late, however, as recent reports suggest the company’s poor security allowed hackers to phish users out of an estimated 58 BTC (about $540,000). Continue reading Known Bug in Brazilian Bitcoin Exchange Foxbit Sees Users Lose 58 BTC

Binance CEO Zhao “Denies All” Sequoia Allegations in Hong Kong Lawsuit

Binance chief Zhao Changpeng, founder of the world’s largest cryptocurrency exchange, has formally denied allegations made by venture capital firm Sequoia Capital about a failed funding deal. As reported yesterday, a subsidiary of Sequoia Capital China sued Zhao in a Hong Kong lawsuit claiming the crypto exchange founder had violated terms of an exclusivity agreement by holding fundraising talks with other potential investors. It is believed that negotiations between the two parties broke down after Binance shareholders were left unimpressed by Sequoia’s valuation of Binance, at a proposed $80 million. Continue reading Binance CEO Zhao “Denies All” Sequoia Allegations in Hong Kong Lawsuit

California Takes ‘First Step’ Toward Embracing Blockchain With New Bill

A California Senator’s blockchain bill is advancing in the State Legislature. Senator Bob Hertzberg, a Democrat representing the San Fernando Valley, has introduced a bill that would allow blockchain technology into formal documentation known as a corporation’s articles of incorporation throughout the state of California. Senator Hertzberg presented the bill, dubbed SB 838, to the Senate Banking and Financial Institutions Committee in recent days, which he says is a “first step” to unveil the decentralized technology to the state. Continue reading California Takes ‘First Step’ Toward Embracing Blockchain With New Bill

BitPay Confirms Bitcoin Cash Retail Payments as Prices Jump

Cryptocurrency payment service provider BitPay has announced that it will allow brick-and-mortar businesses to use Bitcoin Cash for payments. Already available for Bitcoin, the new service will give customers the option to choose between paying in BTC or BCH. Continue reading BitPay Confirms Bitcoin Cash Retail Payments as Prices Jump