Coinbase Rolls Out System to Free Up Stuck Bitcoin Payments

With transaction fees “volatile and unpredictable,” sending cryptocurrencies can sometimes be frustrating. So says U.S.-based crypto exchange Coinbase in a new blog post that sets out the issues rising from shifting miner fees, and exactly what it has been doing to address the problem. As most who have sent or received bitcoin will know, the primary problem is that the fee variations can mean significant changes in the amount of time it takes for transactions to be confirmed. Coinbase says this wastes company time in pointless support requests and provides…

Indian Crypto Exchange Zebpay Halts Trading Over Banking Ban

Zebpay, once the largest cryptocurrency exchange by trading volume in India, has announced it is halting its trading service later today. Giving only several hours’ notice, the Ahmedabad-based company said in a tweet that, from 16:00 local time (10:30 UTC) on Friday, it will halt its exchange service and cancel all unexecuted orders, crediting the funds to customers’ wallets. “No new orders will be accepted,” the exchange said. In a blog post published today, Zebpay further explained the decision directly results from the ban issued by India’s central bank earlier this…

The Crowd Machine Crypto Token Theft: What We Know So Far

Just a few days ago, Crowd Machine was working to build a crypto replacement for Amazon Web Services. Today, it is facing questions about its survival. On Saturday, according to a post by the Crowd Machine team, a hacker compromised the company’s cryptocurrency wallet and stole a large number of the application’s native Crowd Machine Compute Tokens (CMCT). Digging further, according to Etherscan, the thief appears to have made off with over 1 billion CMCT, most of which were then transferred to exchanges. The price of the tokens fell steeply…

Regulators Land Punches, But There’s a Long Fight Over Crypto Ahead

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. There are shifts at ShapeShift and not everyone’s happy with them. When the token exchange recently announced a new “membership” model with mandatory account identification, there was outrage from certain members of the cryptocurrency community who felt it was abandoning its pledge to privacy and destroying its core value proposition.…

Tether’s Impact on Bitcoin Price Not ‘Statistically Significant,’ Study Finds

The issuance of tether (USDT), the controversial cryptocurrency tied to the U.S. dollar’s value, has had no meaningful impact on the price of bitcoin, an academic study has found. The findings by Dr. Wang Chun Wei, a lecturer at the business school of Australia’s University of Queensland, contradict widespread and long-running speculation that Tether, the company behind the stable cryptocurrency, has been issuing USDT to pump up the price of bitcoin. Wei’s findings have been accepted for the October 2018 issue of Economics Letters. (The paper was originally published online in May.)…

Mt Gox’s Corporate Creditors Can Now File Claims for Bitcoin Refunds

The trustee of the long-defunct bitcoin exchange Mt. Gox has announced that corporate creditors can now enter claims to claw back trapped bitcoin through a recently approved rehabilitation process. Nobuaki Kobayashi, attorney-at-law and the rehabilitation trustee for Mt. Gox said in a release on Wednesday that former corporate users of the exchange will have until Oct. 22 to file proof backing up their claims for refunds of crypto assets held by the exchange. “We have released an online rehabilitation claim filing system … which allows corporate users to file their…

Huobi Eyes Japan Expansion With Acquisition of Licensed Crypto Exchange

Huobi Group is to expand its trading services to Japan via an imminent deal to purchase local licensed cryptocurrency exchange BitTrade. In an announcement on Wednesday, Huobi said its wholly owned subsidiary Huobi Japan Holding Ltd has inked an agreement with Eric Cheng, the sole owner of BitTrade, to acquire a majority stake in the firm. BitTrade is currently one of 16 licensed exchanges in Japan and also a member of the Japanese Virtual Currency Exchange Association. Huobi declined to disclose the dollar amount of the acquisition and its exact ownership stake…

Quoine Looks to Boost Crypto Liquidity With New Trading Platform

Cryptocurrency exchange startup Quoine has launched a new trading platform that it says will bring much needed liquidity to the crypto markets. Called Liquid, the new service is a cryptocurrency trading “portal” that provides users with access to what it claims in a press release is “a worldwide network of cryptocurrency exchanges.” With a lack of liquidity having “hampered the development of the cryptocurrency markets,” Liquid argued that its new product could help usher in greater stability. From launch, Liquid will allow users to match trades across “multiple transactions and cryptocurrencies” –…

Crypto Exchange Kraken Denies Rumor of Office Closure, Security Breach

U.S.-based cryptocurrency exchange Kraken has denied a rumor that has emerged on social media claiming the firm is shutting down operations at one of its service centers amid a security issue. Reddit user “throwaway34034324” posted a thread on Thursday claiming that the exchange is closing operations in Halifax, Canada, and has “just laid off hundreds of people in response to a security [breach].” Another user, “MysteriousPlankton,” who is apparently one of the Halifax employees, commented on the thread that they were asked to accept voluntarily resignation with eight weeks’ pay as a…

Bithumb to Restart User Registrations as Bank Agrees Contract Renewal

Bithumb, one of the largest cryptocurrency exchanges in South Korea, is reportedly renewing its contract with the country’s Nonghyup Bank – a move that will allow the firm to once more accept new account registrations. Korean news agency Yonhap reports on Wednesday that Bithumb and Nonghyup are planning to sign the contract on Aug. 30 in order to allow the exchange to assign new so-called real-name virtual accounts to cryptocurrency traders. As previously reported by CoinDesk, Bithumb announced the suspension of its new account registration service on July 31, putting…