BitBuy to Offer 1:1 Insurance on Deposited Bitcoin

BitBuy, a cryptocurrency exchange based in Toronto, will be offering complete insurance on all Bitcoin deposits, CoinTelegraph has reported on.

According to a press release shared with the publication, this insurance will be held in cold storage and is doable thanks to the group’s partnership with Bitcoin custody provider Knox.

Speaking on the matter is Alex Daskalov, the CEO of Knox, who had said:

“The funds that Bitbuy are transferring into our custody system are insured for the full value of the holdings, and this is effective immediately.”

As is always the case with cryptocurrency, the more security, the better. That said, this security shouldn’t be complex. Knox knows this, and is reliably building a space for users to store their assets.

Dean Skurka, the head of finance and compliance at the group, says:

“Knox has never lost Bitcoin, and this is an event with an especially low expectation. … Read more

Australian Research School Launches Blockchain Course 

Blockchain education is beginning to get more ground across educational institutions, and Australia is the latest country to embrace the trend.  RMIT University, a research and educational institution in Australia, announced that it launched two postgraduate courses in blockchain and cybersecurity. As the announcement explained, the courses will be coming in partnership with tech giant IBM, cybersecurity company Palo Alto Networks, and local independent innovation hub Stone & Chalk. 

Meeting the Increasing Demand for Cybersecurity and Blockchain Professionals

IMB has built a name for itself in the blockchain sector, with several innovations to boast of across the space. As RMIT’s press release explained, the courses will tentatively begin in October 2020, and should run for about nine months. The university explained that it launched the course in response to a growing demand for expertise in both fields as the global business landscape continues to shift online.

The announcement cited an Read more

Crypto Executive Sees DeFi’s Prominence as Key to Stablecoins’ Growth

Tyler Winklevoss, the co-founder and co-chief executive of the Gemini Trust Foundation, has weighed in on the potential for stablecoins to achieve mass adoption.

In a recent interview, the crypto executive explained that the emergence of this fledgling asset class would depend significantly on that of the decentralized finance (DeFi) sector – primarily with traditional finance.

DeFi and Stablecoin Growth in Tandem

Tyler shared his views while appearing in an interview with Camilla Russo from The Defiant. While there, he explained that Wall Street would need to embrace DeFi to kick off the stablecoin race.

“When Wall Street wants to start investing in decentralized finance, they’ll need a currency. When a decentralized Real Estate Investment Trust pays off a dividend or a stock, is it going to pay it to investors in Ether? Probably not because of the volatility, but in a stablecoin.”

Speaking on the value proposition of stablecoins Read more

Myanmar’s Crypto Insiders Remain Resolute Amid the Central Bank’s Crypto Ban 

Despite the push for adoption, cryptocurrency regulations across the world have been subject to widespread confusion. With every country free to pursue its own means of regulatory clarity, several have failed to do what they must to ensure a free and enabling environment. The latest appears to be Myanmar.

There’s No Ban in Myanmar’s Constitution

Last week, the Central Bank of Myanmar (CBM) issued an official announcement banning cryptocurrencies from its commercial space. As the statement explained, commercial banking institutions across the country should cease to accept or conduct transactions in digital currencies.

The announcement explicitly states that the government of Myanmar doesn’t recognize digital assets as official currency. Summarily, anyone caught trading with them could get a fine or a prison sentence.

Going deeper, the bank explained that it had noticed digital assets like Bitcoin, Litecoin, and Ether being traded from personal Facebook profiles. As explained, these activities are Read more

Bitcoin Transaction Volumes on Dark Web Dropped in Q1 2020

The Dark Web is one of the most significant reasons why Bitcoin is where it is today. That secluded area of the Internet is notorious for promoting illicit activity, and at a point, Bitcoin was its primary medium of exchange.

However, Bitcoin–related activity on the Dark Web has notoriously dropped over the past year. A new report is punctuating that, showing a significant drop in the volume of Bitcoin transactions recorded on the Dark Web.

Values Surged, but Volumes Dipped

The report in question is coming from Crystal Blockchain Analytics, a blockchain data and intelligence platform. Published on Tuesday, it confirmed that the total dollar value of Bitcoins transferred on the Dark Web surged by 65 in Q1 2020.

Crystal Blockchain Analytics also confirmed that the total value of Bitcoin transacted had grown by 340 percent in three years. The firm attributed this staggering growth to the improved adoption of Read more