Leading US Crypto Exchange Coinbase’s Growth Is ‘Outpacing Its Resources’

Criticisms are being leveled at U.S. crypto exchange Coinbase for allegedly being underprepared and overwhelmed by the pace of its growth, Business Insider reports today, June 22. Business Insider cites documents obtained by Mashable through a five-month Freedom of Information Act (FOIA) process, which comprise 134 pages of complaints filed by Coinbase users with the …

Irish Bitcoin Broker Claims Country’s Banks Are Closing Crypto-Related Accounts

The co-founder of Irish Bitcoin (BTC) broker Eircoin accused the Banking and Payments Federation of Ireland (BPFI) of discriminating against crypto-related accounts, The Irish Times reports June 21. Dave Fleming blamed the BPFI for, “seeking to muddy the waters with insinuations of dirty money.” Eircoin, which is reportedly “Ireland’s only Bitcoin broker,” was closed in …

Winklevoss Brothers Win Patent to Provide Crypto-Based Exchange-Traded Products

U.S. crypto entrepreneurs Tyler and Cameron Winklevoss have won a patent for a system to provide crypto-based exchange-traded products (ETPs), according to a patent filing published by the U.S. Patent and Trademarks Office (USPTO) June 19. The new patent represents systems, methods and program products for using ETPs that hold “digital assets” and “other products …

Tech Giant Intel Partners With DApp Platform Enigma on Privacy Research

Decentralized application (DApp) platform Enigma will partner with Intel on privacy research as it prepares to launch its blockchain testnet, the two companies confirmed June 20. Enigma, which completed a $45 mln Initial Coin Offering (ICO) in September of last year, said the collaboration would focus on “research and development efforts to advance development of …

ICOs Pose ‘Serious Risks’ for Retail Investors Due to Lack of Oversight

Nasdaq CEO Adena Friedman recently claimed that initial coin offerings (ICOs) pose “serious risks” for retail investors, CNBC reports June 20. Speaking at the Future of Fintech conference in New York on Wednesday, Friedman expressed “real concern” about ICO projects, saying that they can seriously defraud retail investors. Friedman said this is mostly the result …

Stablecoin Project Secures Backing From Peter Thiel, Coinbase, 40 Others

A new project for a stabilized cryptocurrency that would function “like normal money,” has received backing from Peter Thiel, Coinbase, Distributed Global, GSR.IO and 40 others, according to a press release shared with Cointelegraph June 20. The developmental-stage stable-value crypto project is dubbed “Reserve,” and closed a collective $5 mln seed round to develop a …

World’s Sixth Largest Crypto Exchange by Trade Volume Bithumb Hacked

Hackers have stolen cryptocurrencies worth $30 million from South Korea’s leading virtual currency exchange Bithumb, Cointelegraph Japan reported June 19. As a result all deposits and payments have been temporarily suspended. *All deposit and withdrawal service will be stopped to make sure the security. We will keep notice you of the restart of the service. …

Blockchain ‘Is Immature and Has Major Challenges’

Carlos Torres, CEO of Spanish bank BBVA, said blockchain technology is “not mature” and faces major challenges, el Economista reported June 18. Torres expressed his concerns about blockchain’s current limitations at an event organized by the Spanish Association for Economic Journalism which focused on the prospects of the technology. According to Torres, the main challenges …