Cryptocurrency and Blockchain News Headline Updated on August 20, 2020

The headline on 20 Aug 2020

KuCoin warns of impersonator website offering incentives to deposit crypto. Impersonation scams continue to permeate the cryptocurrency space. KuCoin clarified that no relationship with the web address “https://c.yrsm.net/app.php/MzI1” and is not authorized to use KuCoin Group trademark or other intellectual property.

XRP isn’t competing with stablecoins and CBDCs, says Ripple exec. XRP contributes to the development of Central Bank Digital Currencies (CBDC) and stablecoins, says Emi Yoshikawa, senior director of global operations at Ripple.

There are various types of crypto assets, but I think that the role of XRP as a bridge asset in international settlement, and is not competing with stablecoins or CBDC, but on the contrary, is complementary. We believe that various stablecoins and CBDCs will create a synergy by responding to the liquidity problem by bridging independent crypto assets, XRP.

Turkey residents panicking over massive inflation. Turkish residents are losing faith in their local fiat currency, with confidence in the lira falling 20% this year, according to a Reuters

The headline on 19 Aug 2020

Binance and Ukraine capture cybercriminals laundering $42M. Binance is collaborating with law enforcement authorities in Ukraine to take down some global scale money laundering schemes. Ukraine’s cyber police identified and arrested a group of criminals involved in a $42 million ransomware and money laundering operation since 2018.

Bitcoin price will “explode” says trader if BTC breaches $13,000. The changing distribution of open interest is “wildly bullish,” JSterz believes as Bitcoin futures trade at 6% above spot price.

Bitcoin is now bigger than Bank of America and NZ dollar by market cap. As Bitcoin reaches a new yearly high of $12,470, its market cap is now greater than Bank of America (according to AssetDash) and New Zealand’s fiat currency (stated by FiatMarketCap).

Crypto exchange wants to make peer-to-peer payments simpler. CoinZoom is based and regulated in the U.S. to provides a one-of-a-kind on-ramp that enables users to easily convert fiat into crypto of their choosing. CoinZoom team highlighted:

The cryptocurrency exchange space is hugely crowded right now. Our team knows what it takes to run a successful and legally-compliant exchange to stand above the rest.

The headline on 11 Aug 2020

Ethereum Classic Double Spent Again. The ETC network has been hacked twice since the start of the month. Vitalik Buterin suggested a migration towards Proof of Stake consensus to mitigate the issue.

Goldman Sachs Aboard the Crypto Train. Goldman Sachs has gone from claiming that crypto is not an ‘asset’ to naming it just that. Here are some of the moves that can be expected from Mathew McDermott, their newly appointed global head of digital assets.

What the Rich Teach their Kids About Money. If you want to change your life and become rich, you need to change your mindset and attitude to be more like the rich.

Dreaming the New Internet. Economist George Gilder argues that Google, more than being a giant tech company, is in fact the protagonist of a new “system of the world”.

Published by Thomas Apel

, a dynamic and self-motivated information technology architect, with a thorough knowledge of all facets pertaining to system and network infrastructure design, implementation and administration. I enjoy the technical writing process and answering readers' comments included.