Zank.com - Cryptocurrency Exchange | Buy and Sell BTC

[Zank]

Zank is an online automated cryptocurrency-trading platform.

While creating our service, we've pursued our main goal: to provide users with a modern, secured and very convenient tool for fast exchange of digital currencies. Our team has invested a lot of efforts and work towards achieving this. Some of the work we've done include:

• All the services existing in the market were analyzed and the options which are highly-demanded by users were chosen.
• The Zank platform has been made as concise and user-friendly as possible.
• The exchanger was powered using secured and fast technologies.
• Users can now buy and sell in the most transparent mode.
• Technical support has been provided to users.
• We conduct our activities in an open and transparent manner, without hiding our business registration details.

The project employs people with professional education, who have the necessary expertise in related areas, such as Internet banking, finance and corporate banking services. We strive to make our service the best and constantly focus on development.

Affiliate Program
Our Affiliate Program offers favorable terms of cooperation.

• You receive 30% of the commission for each user you bring to us.
• High commissions
• The reward is in cryptocurrency
• Fast payouts
• Referral link to any page

Share your referral link, add the link on your site, blog, forum and other resources.

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Buy and sell bitcoin through Zank – earn quickly and easily!

Contacts:
Tallinn, Kesklinna linnaosa, PArnu mnt 158088, 11317
License no. FRK000193, FVR000228.
Tech.support: [email protected]
Telegram: @zank_support
Official site: Zank.com

 

[Zank]

News of the cryptocurrency market:

The United States Postal Service, or USPS, recently filed a patent for a mail-in voting system that utilizes Blockchain and other technologies for verification.

Soto described the USPS's blockchain patent as timely, although he said he did not know whether or not it will come into play in time for the 2020 presidential election. “Certainly I could see it being utilized very soon, over the next couple of election cycles,” he said.

DLT supply chain firm Everledger is partnering with local Chinese diamond sellers to ensure customers only receive genuine gemstones.

In an Aug. 25 announcement, Everledger, a global digital registry for diamonds, said it would be working with Chinese e-commerce giant JD.com as well as the Gemological Institute of America (GIA) to implement a distributed ledger technology (DLT)-based supply chain capable of verifying the authenticity of individual stones.

The crypto price surge since March has been accompanied by a wave of cryptojacking attacks according to new research published by cybersecurity firm Symantec.

According to the company there was a 163% increase in browser-based cryptojacking activity in the second quarter of 2020. Cryptojacking had previously been in a steep decline from March 2019 due to the shutdown of the mining script maker, CoinHive. Symantec points out the increase in the last quarter coincided with a surge in the value of Bitcoin (BTC) and Monero (XMR), two cryptocurrencies often mined by the threat actors that rely on browser-based cryptojacking malware.


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[Zank]

News of the cryptocurrency market:

Turkish football club Trabzonspor is the latest team to issue their own fan tokens using the Blockchain voting and rewards app, Socios.com, which will be available via the Chiliz exchange.

According to the announcement, $TRA token holders will be able to vote in various polls and earn rewards for their engagement with the football club. Rewards could include VIP stadium attendee status, and even the ability to meet with players once the COVID-19 pandemic has passed. Socios’ app will also enable users to compete to become the #1 fan in their region or country.

A group of North Korean hackers is engaged in a massive campaign targeting U.S. financial institutions and cryptocurrency exchanges around the world — with U.S. authorities warning of the high level of threat it poses to the country.

According to an alert issued by the U.S. Department of Homeland Security (DHS), agencies including the FBI, the U.S. Cyber Command, and the Department of the Treasury are moinotiring the resurgence of the North Korea-sponsored hacking group, BeagleBoyz. The hackers have not been as active in the last few years as the notorious Lazarus Group – another hacking group from the hermit regime. However, they are reportedly responsible for stealing $2 billion since at least 2015, mostly related to “lucrative cryptocurrency thefts,” said the U.S. DHS.

Framework Labs, the sister company of Framework Ventures, has raised $8 million in a new seed round.

Station 13, an investment firm focusing on blockchain ventures related to sports, media, and entertainment, led the $8 million fundraising round for Framework Labs. Framework will use the funds to grow its team of researchers, traders, and engineers. The company has already hired former CTO and co-founder of decentralized exchange IDEX Ray Pulver and former principal at Wavemaker Partners Roy Learner. According to an Aug. 27 report from Forbes, Framework Labs founders Michael Anderson and Vance Spencer have developed a new investment model called Network Capital to invest in DeFi companies at multiple stages.


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[Zank]

News of the cryptocurrency market:

Blockchain security firm Quantstamp has published a security review of hyped DeFi protocol SushiSwap, identifying ten issues with the platform.

The good news is the issues with the Uniswap fork aren’t likely to be fatal — unlike the critical bug that took out YFI clone YAM after 48 hours. The researchers identified two medium risk, three low risk, and five informational issues with the code. Among the concerns identified were errors failing to prevent the same liquidity provider token from being added more than once — risking disruptions to reward variables; a vulnerability potentially allowing funds to be stolen from the platform should the owner’s private key become compromised; and an issue that could result in the protocols ‘massUpdatePools’ running out of gas.

Cybersecurity experts at ESET published an in-depth study about a new malware named “KryptoCibule.”

This exploit specifically targets Windows users with three methods of attack, including by installing a crypto mining app, directly stealing crypto wallet files, and replacing copy/pasted wallet addresses as a means to hijack individual transactions. According to the cybersecurity firm, KryptoCibule’s developers rely on the Tor network and BitTorrent protocol to coordinate the attacks.

A U.S. circuit court has concluded its review of a terrorism financing case that begin in 2010, saying that the NSA's phone tapping was illegal but that it was a minor part of the evidence.

In the final decision on a criminal case that began a decade ago, an appellate court has said that the National Security Agency’s phone data collection practices were in fact illegal. They did, however, uphold the convictions in the case. The court continued to attack the program, writing that the government’s case neglects that “the collection of millions of other people’s telephony metadata, and the ability to aggregate and analyze it, makes the collection of Moalin’s own metadata considerably more revealing.”


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[Zank]

News of the cryptocurrency market:

Tesla and Bitcoin price surged higher after recovering from a sharp correction, leading analysts to take a closer look at the BTC to S&P 500 correlation.

On Sept. 9 the price of Tesla stock surged 10.92% after undergoing a 21% plunge earlier in the day. Coincidentally, the price of Bitcoin (BTC) also soared by nearly 5% in the past 24 hours. In the past several days, the correlation between Bitcoin and stocks has increased once again. Data from Skew shows the 1-month correlation between Bitcoin and the S&P 500 surged from 18% to around 55%.

The Committee on Energy and Commerce has just approved two pieces of legislation to spur more in-depth analysis of blockchain technology in government, clearing the way for their vote in the House of Representatives.

In an online debate moderated by Chamber of Digital Commerce founder Perianne Boring on Sept. 9, Democratic Representative of Florida’s 9th District Darren Soto announced that after “nearly two years of pushing,” the Committee on Energy and Commerce had passed the Digital Taxonomy Act. In addition, the committee approved the American COMPETE Act. Both pieces of legislation will now go to the main floor of the U.S. House of Representatives for a vote.

Revolut, a major European cryptocurrency-friendly trading application is expanding to another major market.

The London-based firm has launched its digital banking app in Japan, as Revolut announced in a Sept. 8 tweet. According to a report by The Nikkei, Japan is the first non-English speaking market for Revolut. Headquartered in London, the company reportedly has 13 million users worldwide, operating in European countries, the United States, Australia and Singapore.


Buy and sell bitcoin through Zank – earn quickly and easily!

 

[Zank]

News of the cryptocurrency market:

Finance ministers from five European countries have called on the EU Commission to issue regulation for stablecoins as well as sanctions for providers that break the rules.

Ministers from Germany, France, Italy, Spain, and the Netherlands told the Commission that stablecoins regulation was needed to protect consumers and preserve the bloc's monetary sovereignty from Big Tech firms, according to Reuters. In a joint statement at the Bundesbank Conference Friday, ministers said private stablecoin providers needed to adhere to European regulation and should not be allowed to operate in the bloc if they fall below a certain standard.

A new group seeking to promote research and support blockchain firms has been formed.

The Ticino Blockchain Technologies Association was launched with the participation of the University of Southern Switzerland, also known as the Università della Svizzera Italiana (USI), and the University of Applied Sciences and Arts of Southern Switzerland (SUPSI). The group’s goal is to support research and companies in the blockchain sector and promote academic studies of the technology. Other founding members are Bitcoin.com, Copernicus Holdings, Eligma, Euronovate, Eventboost, Pangea Blockchain Fund, Poseidon Group, the Quadrans Foundation, StrongBlock.io, Superflat and the Swiss Blockchain Consortium.

Jameson Lopp, co-founder and CTO of Casa, a crypto custody firm has released a test result report on Bitcoin multi-signature hardware signing performance on the Casa blog on Sep. 13.

The result shows that hardware crypto wallet devices can handle small, simple transactions well. However, they have trouble performing once the transaction becomes complicated. Casa is said to be built upon geographically distributed multisig, dedicated hardware devices to secure keys, designed user experience, and client services.


Buy and sell bitcoin through Zank – earn quickly and easily!

 

[Zank]

News of the cryptocurrency market:

Bakkt Bitcoin futures smashes daily volume record by 36%. Despite the milestone, Bakkt’s future volumes pale in comparison to those of top crypto exchanges Binance and Huobi.

Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On September 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%.

Yam is gearing up for its V3 release later this week after undergoing a security audit from PeckShield.

Decentralized finance (DeFi) protocol Yam Finance is relaunching on September 18. Yam Finance V2, a fork of Compound (COMP) featuring a native token with an elastic supply, burst onto the DeFi scene last month — garnering more than half a billion in assets from yield farmers within 24 hours of launching. However, the unaudited V2 of Yam Finance came to a dramatic conclusion when a catastrophic bug caused excessive reserves to be minted which rendered it impossible for governance to be executed.

DeFi could fall under regulatory pressure if it is seen as a haven for money laundering.

The rapid growth in decentralized finance and yield farming is likely to attract greater regulatory attention according to a recent report. A joint research paper by global management consulting firm BCG Platinion and Crypto.com has indicated that the rapid growth in DeFi in 2020 has created the potential for money laundering which will bring it under the radar of regulatory authorities. Since the beginning of the year, the dollar value of crypto collateral locked across DeFi platforms has increased over 1200% to reach $9 billion according to data provider DeFi Pulse.


Buy and sell bitcoin through Zank – earn quickly and easily!

 

[Zank]

News of the cryptocurrency market:

A CoinGecko survey has found that the majority of yield farmers do not understand the smart contracts underpinning the DeFi protocols they use.

The majority of yield farmers do not understand how to read the potentially risky smart contracts that underpin the decentralized finance (DeFi) ecosystem — but that hasn’t stopped them making huge profits. Crypto market data aggregator CoinGecko has published its findings from a survey of 1,347 of its users about yield farming, finding that 93% of respondents claim to have reaped a financial return of at least 500%.

Ethereum’s correction triggered a DeFi-token collapse which resulted in YFI and UNI dropping by 46%.

After outperforming Bitcoin (BTC) and Ether (ETH) strongly in August, Decentralized Finance (DeFi) tokens are now plummeting as many registered losses of up to 50%. At the moment, the two coins garnering the most attention are Yearn.finance (YFI) and Uniswap (UNI) as both have dropped by 46% and 48% since reaching a monthly peak.

Brazil’s Hashdex is teaming up with Nasdaq to bring the world’s first Bitcoin ETF to the Bermuda Stock Exchange.

Regulated Brazilian fund manager Hashdex has inked a deal with Nasdaq to launch the world’s first crypto asset exchange-traded fund (ETF) on the Bermuda Stock Exchange (BSX).


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[Zank]

News of the cryptocurrency market:

Bitcoin’s realized capitalization has soared above its 2017 record high

Crypto market data aggregator Glassnode has published data indicating that Bitcoin’s (BTC) realized capitalization has increased by more than 50% since tagging its all-time high of $20,000 at the end of 2017. Bitcoin’s realized cap currently sits at $115 billion — $43 billion more than at the all-time high in 2017.

Bears lurk as Bitcoin price is down and $284M in CME BTC options are set to expire on Friday

As of now, the $622 million total open interest for BTC futures expiry on Friday seems quite relevant. This Friday, a total of $100 million in CME Bitcoin (BTC) options are set to expire. 58% of these are call (buy) options, meaning buyers can acquire BTC futures at a fixed price.

Bloomberg suggests that Bitcoin should be $15,000 according to this adoption metric

Their belief seems to be that Bitcoin is destined to appreciate unless these key indicators reverse themselves. According to the Bloomberg crypto newsletter, a key on-chain indicator suggests that Bitcoin (BTC) is currently greatly undervalued. Bloomberg’s crypto analyst Mike McGlone believes that the recent all-time highs in Bitcoin’s hashrate and more importantly, the 30-day average of active Bitcoin addresses, suggests a $15,000 price level for the asset.


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[Zank]

News of the cryptocurrency market:

Two US-based law firms are the latest victims of the REvil malware group, which is auctioning off their sensitive data.

Ransomware group REvil has started another auction on the dark web listing sensitive data stolen from two US-based law firms. The listing appeared June 6 through REvil’s official blog on the darknet, where bidders look to acquire 50GB of data from Fraser Wheeler & Courtney LLP and 1.2TB of data from the database of Vierra Magen Marcus LLP. Information auctioned includes client information, internal documentation of the company, electronic correspondence, patent agreements, business plans and projects, as well as new technologies that have yet to be patented.

The starting price for the auction listing of Fraser Wheeler & Courtney LLP is $30,000 to be paid Bitcoin (BTC).

In Japan, one of the biggest home builders is making preparations for its contracts on certain rental homes to go on the blockchain.

According to an announcement posted to the company’s website on June 8, Sekisui House said that it would use blockchain for rental housing contracts, including covering electricity and gas. The measures will be implemented before March 2021. Users staying in “Shamaison” rental homes will be able to register their phone numbers and addresses to enter the property without ever contacting a real estate agent. Existing technology makes it possible for Sekisui House clients to open and close doors with just their smartphones.

Cryptocurrency-powered web browser Brave is partnering with the Korean pop group BTS and Rush Gaming to provide a limited edition release of its browser for residents of Japan.

Japan’s Nikkei newspaper reported on June 5 that the Brave Browser and BTS — AKA the Bangtan Boys — have developed a browser exclusively for users in Japan. This is the first known collaboration between a privacy-based browser like Brave and a K-pop boy band. According to the Nikkei, the two aim to find a new touchpoint between idols and fans. Users of the limited edition browser can earn points by watching ads to support Rush Gaming’s e-sports team.


Buy and sell bitcoin through Zank – earn quickly and easily!

 

[Zank]

News of the cryptocurrency market:

German blockchain banking firm Bitwala has partnered with pioneering decentralized finance, or DeFi, platform Celsius to offer annual interest on Bitcoin (BTC) holdings of up to 4%.

Funds deposited from customers who opt to use Bitwala’s Bitcoin Interest Account will be loaned to institutional borrowers via Celsius, earning weekly interest on their Bitcoin in the form of BTC. Bitwala frames DeFi as “a new way to generate wealth,” emphasizing the opportunity for passive income to be generated from crypto holdings. Users can deposit from $12 worth of Bitcoin into Bitwala’s interest accounts, and are able to add and withdraw funds at any time. Only network fees are incurred through using the account, with investments and withdrawals processed without cost to the user...

In a recent trend survey made by DMEXCO and presented at an event in Cologne, Germany, it was determined that although the world is currently suffering economically, the digital economy may greatly benefit after the COVID-19 pandemic. According to the survey, the COVID-19 crisis will accelerate the rhythm of digital transformation.

One of the benefits of an advancing digital transformation is that it can lead to new solutions, unlocking inconceivable possibilities. This is especially true in digital services provided by governments, as the potential for innovation within the sector is vast. With that in mind, Brazil instituted its Digital Government Strategy through the Decree 10332/2020 this week...

Hackers have attacked multiple supercomputers across Europe this week with the intention of mining cryptocurrency. Clusters of supercomputers have been forced to shut down in order to investigate the intrusions, according to a ZDNet news report on May 16.

These security incidents were reported in the UK, Germany, and Switzerland. Additionally, another possible attack occurred in a high-performance computer center in Spain, according to the report. Most of the attacks appear to have targeted universities. University of Edinburgh,which runs the ARCHER supercomputer, reported the first incident on Monday. Then, major universities’ high-performance computing clusters in the state of Baden-Württemberg, Germany also announced that they were attacked on Monday with similar security incidents, and had to be shut down.

More attacks happened in institutions in other parts of Germany, Spain, and Switzerland later in the week. Clusters in the Leibniz Computing Center, or LRZ, an institute under the Bavarian Academy of Sciences, the Julich Research Center in the town of Julich, Germany, the Faculty of Physics at the Ludwig-Maximilians University in Munich, Germany, and the Swiss Center of Scientific Computations, or CSCS, in Zurich, Switzerland were all counted amongst the victims...


Buy and sell bitcoin through Zank – earn quickly and easily!

 

[Zank]

News of the cryptocurrency market:

The deadline is here: On May 18, unregistered Dutch crypto firms could face penalties if they do not fall into line with the Netherlands’ new anti-money laundering (AML) laws, passed by the Dutch Upper House on April 21.

According to the Anti-Money Laundering Directive, companies offering crypto-to-fiat or custodial services should have registered by today. In contrast, those offering only crypto-to-crypto services are exempt.

The Dutch Bank (DNB), the body in charge of regulating financial activities in the Netherlands, will be obliged to comply with the mandates of the Dutch government. However, they will not issue licenses for crypto businesses. Instead, paid registration will be mandatory and cost up to €34,000 per year.

U.S. berry producer California Giant Berry Farms joined the blockchain-based food tracking solution IBM Food Trust.

Fruit and vegetable news outlet The Packer reported on May 17 that California Giant will use a blockchain to share data between all the points of its supply chain. The firm employs Glassbit’s Glasschain IBM Food Trust integration compliance as a service solution. According to California Giant’s senior director of operations Thomas Taggart, the integration with IBM’s blockchain network will allow the firm and its partners to find ways to improve the efficiency of product transportation. According to company data website Owler, California Giant has an estimated annual revenue of $62.6 million and employs 103 people.

Japanese cryptocurrency exchange bitbank has begun implementing changes to make it compliant with the country’s revised Payment Services Act (PSA), effective May 1.

Atsushi Kuwabara from bitbank spoke to Cointelegraph on how local exchanges and regulatory bodies would be responding to modifications of cryptocurrency-related laws first proposed by the Japanese House of Representatives in 2019. Under the modifications to the PSA, all references to “virtual currency” must be replaced with the term “crypto asset”. The Japan Virtual Currency Exchange Agency (JVCEA), has changed its name to the Japan Crypto Asset Exchange Agency, though it will still be referred to as the JVCEA.

Under the new PSA, Japanese Cabinet Ordinance and financial watchdog Financial Services Agency (FSA) guidelines, any user who sends crypto assets to an exchange has a “prioritized right of return” for any assets.


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[Zank]

Dear clients and partners!

Exchange service Zank.com, added to the monitoring listing XRates.ru

Using the services of automatic purchase of bitcoin on our website, we invite You to leave a review on the Zank.com exchanger


Buy and sell bitcoin through Zank – earn quickly and easily!

 

[Zank]

News of the cryptocurrency market:

A new bill before Congress asks regulators to put together a massive survey on the state of blockchain adoption and rank the U.S.’s adoption relative to other nations.

On May 19, Representative Brett Guthrie (R-KY) introduced the “Advancing Blockchain Act.” Per a May 18 draft of the legislation obtained by Cointelegraph, the bill asks the Federal Trade Commission and the Secretary of Commerce to put together a new survey of blockchain’s uses and the state of adoption in the United States. The current text of the bill also seems to focus on uses of blockchain in interstate commerce, potentially including, for example, supply chain management. Given Guthrie’s role on the House Energy and Commerce Committee, it’s possible that blockchain’s use cases in the energy sector appeal to him as well.

Shopify sellers can now accept crypto via digital asset payment processor, CoinPayments.

A partnership with crypto payment processor CoinPayments means bolstered digital asset payment compatibility for Canadian e-commerce giant Shopify. Shopify sellers can now harness CoinPayments' digital asset payment processing platform, paving the way for sellers to accept 1,800 different cryptocurrencies as payment, a May 20 statement detailed. Shopify touted cryptocurrency payment compatibility prior to the CoinPayments partnership, via Coinbase Commerce, BitPay and GoCoin, although CoinPayments adds to the offering.

Chinese authorities have busted a group of scammers allegedly claiming to be “Huobi officials”.

Chinese authorities have dismantled a group of alleged scammers posing as Huobi exchange officials, who were operating an over-the-counter (OTC) website. As reported by local media outlet Jinse, on May 20 police arrested 12 suspects in Guangdong province believed to be behind the scheme, after an investigation found that WeChat crypto trading groups had been infiltrated from November 2019. Scammers persuaded victims to invest in the fake OTC platform, which was used for money laundering, and then sent the defrauded money to overseas accounts.


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[Zank]

Dear clients and partners!

Exchange service Zank.com, added to the monitoring listing RatesGuru

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[Zank]

News of the cryptocurrency market:

Goldman Sachs will host a conference call on May 27 titled US Economic Outlook & Implications of Current Policies for Inflation, Gold, and Bitcoin.

On May 23, Mike Dundas, the founder of crypto media outlet The Block, posted a screenshot of the invitation for the call, revealing that the event will be hosted by Sharmin Mossavar-Rahmani, the CIO of Goldman’s Investment Strategy Group, alongside Harvard economics professor Jason Furman, and Goldman Sachs’ chief economist Jan Hatzius.

National People’s Congress, China’s parliament and Chinese People’s Political Consultative Conference, the most powerful political advisory body in the country, have recently begun their annual sessions. These are widely referred to as the "Two Sessions" or "lianghui" meetings. These meetings have been ongoing since May 22.

The National People’s Congress, or NPC, is China's top legislative body. Nearly 3,000 delegates from around the country meet once a year to submit proposals during the meetings. According to a Beijing News’ report on May 23, Jieqing Tan, deputy to the NPC, suggested setting up a special fund for blockchain industry development. If accepted, this fund would be led by the government. The aim of the fund is to support the development and growth of a number of promising blockchain enterprises, encourage blockchain technology innovation, and cultivate a number of unicorn enterprises in the blockchain space, says Tan.

Virtual reality media platform, Sensorium, has announced its membership in the Global Blockchain Business Council, or GBBC — a Swiss-based non-profit industry association for blockchain.

Sensorium will participate in GBBC’s upcoming virtual forum on May 28, which will see the firm’s director of technology Alex Blagirev discuss his predictions for how virtual social media will change the way that people interact online. Cointelegraph spoke to GBBC to discuss the intersection between social media and virtual reality, or VR, and the role that blockchain plays in the sector’s future.


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[Zank]

News of the cryptocurrency market:

Swiss DeFi startup Eidoo partners with principal member of Visa Europe to issue a new Visa crypto debit card.

Cryptocurrencies like Bitcoin (BTC) aren’t really easy to spend in day-to-day life, mainly because retailers prefer to stay away from crypto’s volatility. In order to build a bridge between traditional finance and emergent assets like Bitcoin, a Swiss crypto startup called Eidoo has introduced a new Visa crypto debit card that uses regulated stablecoins for crypto-to-fiat conversion.

The so-called Eidoo Card has been approved for operation by payment giant Visa. Announcing the news on May 25, Eidoo told Cointelegraph that its new card will enable 40 million Visa merchants to accept crypto-derived fiat currencies, including the British pound (GBP) and euro (EUR).

Daejeon University is the latest in a series of South Korean universities redesigning portions of its finance and technology departments. The university made an official announcement on May 25 that it would open a new fintech department called “Future Convergence.”

According to the announcement published by Daejeon Journal, the curriculum will consist of topics such as smart health care, smart city, smart factory, and various employment fields in the medical institutions by implementing blockchain technology.

Universities in South Korea are boosting educational programming related to blockchain, big data, and artificial intelligence amid the country’s crisis of college graduates who are struggling to find jobs. Daejong’s new fintech department expects that work done there will foster “talents for the 4th industrial revolution.”

The price of Bitcoin dropped to $8,800 over the weekend and data shows miners and retail investors led the correction.


On May 24, the price of Bitcoin (BTC) dropped to $8,800 from $9,300. In the next 24 hours, it declined to as low as $8,600, leaving the top ranked digital asset on CoinMarketCap at risk of a bigger pullback.

The initial drop of Bitcoin below $9,000 coincided with a massive inflow of BTC into exchanges and Bitcoin on-chain data indicates key players were selling over the weekend.

According to data, miners, exchanges and retail investors may have led to the decline in the price of Bitcoin over the past three days.

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[Zank]

News of the cryptocurrency market:

Bitcoin price is struggling to reclaim $9,000, leading investor sentiment to turn bearish on BTC’s short-term price action.

Bitcoin (BTC) price had a relatively muted day as the digital asset traded between $8,700-$8,885. Currently, the price remains below the ascending channel trendline and the daily candle closed as a neutral doji, showing bulls and bears are in contention on the direction Bitcoin will take over the short-term. As the price searches for direction and its dominance rate drops from 67% to 65.5%, a handful of altcoins continued a multi-day streak of impressive double digit rallies.

The average Bitcoin fee has fallen by nearly 54% over the last five days, but some believe network congestion could push users to altcoins.

After spiking a week ago to levels last seen in February 2018, the average Bitcoin (BTC) transaction fee has fallen by more than half. BitInfoCharts data shows that Bitcoin’s average fee decreased by nearly 54% from $6.65 on May 20 to $3.07 on May 25. The median — or most common — fee peaked at $3.91, but has now fallen to $1.65.

The Global Blockchain Business Council believes the pandemic has shone a light on many systemic inefficiencies that blockchain technology can solve.

The Swiss-based non-profit blockchain industry association, the Global Blockchain Business Council (GBBC), believes that the crises resulting from the coronavirus pandemic have highlighted the benefits of distributed ledger technology (DLT). In email correspondence with Cointelegraph, a representative of the GBBC asserted that DLT can modernize and address the inefficiencies of the systems that underpin the organization of contemporary societies. With this in mind, the GBBC is working to foment dialogue among key policymakers and business leaders on how DLT can “address certain inefficiencies, and in some cases fundamentally shift frameworks and systems in hopes of creating more secure, equitable, and functional societies.” The GBBC will devote significant resources to engaging lawmakers over the coming years.


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[Zank]

News of the cryptocurrency market:

A report from Flipside Crypto indicates that no Ethereum (ETH)-based Tether (USDT) tokens have ever been burned. The report has also come to a conclusion that the stablecoin is mostly used by arbitrageurs on centralized exchanges.

The report states that Tether has thus far failed to fulfill its aspiration of providing stability to the DeFi space as postulated by Paolo Ardoino, Bitfinex and Tether’s CTO. Instead, its primary use case, seems to be inter-exchange arbitrage. Another interesting observation is that these arbitrageurs do not send their tokens directly from an exchange to an exchange, but first withdraw them to their wallets. The report speculates that this may be due to the desire to control the swiftness of the transactions. In other words, this way the users can opt to pay higher Gas fees in order to expedite the transfer. In the world of arbitrage, time is money. Despite Tether’s recent rise to becoming the third biggest cryptocurrency by market cap, it remains a controversial project, with numerous questions about its reserve policies.

LG Electronics has joined the governing council of Hedera Hashgraph, the enterprise-grade public distributed ledger platform. LG serves as the council’s fourteenth member, sitting alongside Boeing, Deutsche Telekom, Google, IBM, Tata Communications, and other leading organizations.

Hedera Hashgraph CEO Mance Harmon told Cointelegraph that LG is the first home appliance manufacturer to join the Hedera Governing Council. Harmon noted that LG will specifically work with the other council members to identify ways that distributed ledger technology, or DLT, can benefit consumers and supply chain partners. LG has recently shown increased interest in DLT and blockchain applications. In September 2019, it was reported that the Koren tech giant began developing a blockchain-based phone to rival Samsung’s Klaytn smartphone. LG also just announced a partnership with technology company, Evernym to develop a blockchain-based identification system.

Revolut data shows that U.K.-based retail crypto trade fell by half at the peak of the mid-March crypto crash — but has since recovered.

Data provided by U.K.-based finance app Revolut shows the coronavirus lockdown has impacted the crypto trading habits of its users. Almost a third of Revolut’s 10 million customers have traded cryptocurrency on the app, which caters to casual, retail crypto traders. As the lockdown restrictions were introduced during March, the average size of cryptocurrency purchases from its U.K. customers fell by 58%, from roughly $663 to $281.


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[Zank]

News of the cryptocurrency market:

In a recent response to a Right to Information query, the Reserve Bank of India, the Indian central bank, has stated that there is no prohibition on banks to provide bank accounts to cryptocurrency traders.

But some banks have been arbitrarily denying services to crypto users and are still doing so. The RBI banking ban on crypto was set aside by the Supreme Court on March 4, 2020. In its detailed judgement of over 180 pages, the Supreme Court stated that the RBI action is extremely disproportionate in severing the lifeline (banking services) for cryptocurrency trading business despite crypto trading not being illegal under any Indian law and no harm or damage is proved to have been caused to these banks as a result of their relationship with crypto exchanges.

The Swiss Financial Market Supervisory Authority, or FINMA, has authorized InCore bank to carry out digital assets transactions, allowing customers worldwide to access and transact within the bank.

The official announcement represents an important step in creating a blockchain-friendly environment across the EU banking sector. InCore bank becomes the first Swiss business-to-business bank approved to operate within the crypto sphere. The firm now allows the institutional clients to trade, hold, and transfer digital assets. FINMA has also allowed the bank to develop its tokenization capabilities.

Chase Bank NA, the sixth-largest bank worldwide and a subsidiary of banking giant JPMorgan Chase & Co, will pay approximately $2.5 million to settle a class-action lawsuit alleging that it overcharged customers for buying cryptocurrency using its credit cards.

The sum was reported by Reuters following a court filing on Tuesday in Manhattan federal court. JPMorgan Chase admits no wrongdoing in the settlement, and customers who are part of the class will receive approximately 95% of the previously-paid fees back. The lawsuit alleged that Chase Bank customers who used their credit card to purchase cryptocurrency were improperly charged pricey “cash advance” fees. The suit originally asked for $1 million for affected customers, but the final settlement is significantly larger.


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