Litecoin’s Mining Power Has Fallen 28% Since Its Halving

Many litecoin (LTC) miners working to secure the blockchain and compete for block rewards have been unplugging their machinery following the cryptocurrency’s recent “halving” event, network data shows. Litecoin’s mining difficulty – a coded-in measure of how hard it is to solve the mathematical puzzles used to write blocks on the network – has dropped… Read More »

Tensions Rising at Facebook Libra as Backers Consider Quitting: Report

Several backers of Facebook’s Libra cryptocurrency project are said to be considering backing out due to growing pressure from regulators. According to a report from the Financial Times, three of the firms (which were not named) expressed concerns over being seen to be linked to the project after watchdogs around the world raised concerns over… Read More »

White House Advisory Says Cryptocurrencies Used for Fentanyl Purchases

The White House issued two advisories on drug purchases in the U.S. Wednesday, using the communications to make specific references to the role of cryptocurrencies in such transactions. The advisories, addressed to both financial institutions and digital payment platforms, state that “convertible virtual currencies,” particularly bitcoin, bitcoin cash, ethereum and monero, can be and have… Read More »

Authorities Seize Crypto Mining Equipment from Nuclear Power Plant

Ukraine’s top law-enforcement and counterintelligence agency uncovered crypto mining equipment on site at a nuclear power plant. According to local media reports, the Security Service of Ukraine (SBU) confiscated six Radeon RX 470 GPU video cards, a motherboard, power supplies and extension cords, a USB and hard drive, and cooling units installed in the South… Read More »

New Flexa Tech Will Let You Spend Bitcoin From Other Apps Too

The merchant payments startup Flexa will soon allow any other app to run payments in crypto just like its own SPEDN app has since May. Staking with the company’s Flexacoin (FXC) will enable apps to trustlessly provide payments to merchants without any danger of malicious apps reversing a transaction after Flexa has transferred funds. The… Read More »

Gemini Heads Down Under With Crypto Exchange Launch in Australia

Cryptocurrency exchange Gemini announced Wednesday that it is officially opening its doors to customers in Australia. The exchange’s fifth international move, the development means that Australian users can buy and sell five cryptocurrencies on Gemini including bitcoin, bitcoin cash, ethereum, litecoin, and zcash. The startup, founded by investors Tyler and Cameron Winklevoss, is also making… Read More »

Travelport, IBM Collaborate on Blockchain for Hotel Commissions

Travelport, a business and consumer travel services provider, announced it is using IBM’s Hyperledger Fabric to guarantee commissions paid to travel agencies. According to a statement released on August 20, the blockchain was designed with input from IBM, travel management company BCD Travel, and three unnamed hotel chains. The system aims to “put the lifecycle… Read More »

US Treasury Blacklists Bitcoin, Litecoin Addresses of Chinese ‘Drug Kingpins’

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned three Chinese nationals and their cryptocurrency addresses, alleging they violated money laundering and drug smuggling laws. OFAC named Xiaobing Yan, Fujing Zheng and Guanghua Zheng as narcotics traffickers under the Foreign Narcotics Kingpin Designation Act, freezing any property they own within the U.S.… Read More »

Tether to Issue Stablecoin Backed by Yuan in Belgian Bank: Insider

Tether is planning to issue a stablecoin pegged to the Chinese renminbi, according to a trader with ties to the company. Zhao Dong, an over-the-counter (OTC) trader in China and a shareholder of crypto exchange Bitfinex – which shares managers and owners with Tether – revealed the move on WeChat on Wednesday, saying Tether plans… Read More »