Binance’s CEO Conducts AMA After $40 Million Worth of BTC Hack

Changpeng Zhao the beloved CEO of Binance have conducted a live AMA on twitter to address community concerns in the wake of the recent $40.7 million hack of its trading platform.

The AMA was broadcasted live last May 8 at 3 am UTC time.

While the details of the hack were still sketchy at that time it was revealed that hackers employed several tactics that included phishing and viruses to obtain large number of 2FA codes and API keys.

It was also revealed that hackers were able to withdraw around 7,000 BTC which is around $40.7 million at the time the hack was discovered.

Hackers were able to withdraw this from the exchange’s hot wallets and were left undetected by the crypto exchange’s security systems.

During the AMA CZ noted that the hackers where persistent and patient and had waited to collect a significant volume of stolen account data before executing the attack.

CZ and his company also rejected the idea of conducting a Blockchain Reorg which essentially means reversing the transaction saying that it could cause a split in both the Bitcoin network and community.

Bitstamp Beefed Up Their Staff By Hiring Ex-Coinbase Trading Head

It has been reported that one of the longest running cryptocurrency exchanges in the world, Bitstamp has recently hired an ex-Coinbase executive and Wall Street veteran as its new head of U.S. operations.

Hunter Merghart left Coinbase last October of 2018 and will now be leading the operations of Bitstamp in the U.S. which has recently been awarded with the coveted BitLicense from the New York State Financial Services.

According to Nejc Kodric, CEO if Bitstamp, Merghart is the perfect person to lead their U.S. operations, which includes making sure that their retail and institutional investors have a platform and service that is in parity with what they could find at any traditional exchange in the world.

It has been reported that Bitstamp is only the 19th company to obtain the BitLicense which enables it to serve New Yorkers.

Under the leadership of Merghart the company is planning to expand its business in the U.S.

Aside from the new hire and acquisition of the Bitlicense the company has also undergone a major tech upgrade to gear up for serving institutional clients particularly a new matching engine and a surveillance platform from Cinnober.

Crypto Payments Company BitPay Hires New CFO

There have been news reports that the cryptocurrency centric payments firm BitPay has hired a new Chief Finance Officer by the name of Glen Braganza.

Braganza is a former WorldPay U.S. executive and has over 15 years of experience in private equity and public markets under his belt.

It was reported that he joined BitPay to help support the business through its next phase as the company grows into a global financial organization.

According to Stephen Pair the CEO and co-founder of BitPay Glen’s experience is a key advantage to BitPay as the team moves the company into mainstream to help businesses around the world to leverage blockchain technology.

During Braganza’s stint as the CFO of WorldPay US he was responsible for over $400 million in annual revenue and over $150 billion in annual payment processing volume.

Bitcoin.com And Cred Partnership For Lending And Borrowing Services

It has been reported that Bitcoin.com and Cred has recently inked a partnership to enable Bitcoin.com customers to earn as much as 10% of interest on their Bitcoin and Bitcoin Cash.

Bitcoin.com is a leading Bitcoin information portal with over 4 million Bitcoin users of its wallet.

Credit is a leading provider of borrowing and lending with over $300 million in credit facilities.

According to Roger Ver, CEO of Bitcoin.com, lending and borrowing services is a natural next step for Bitcoin wallet holders and will be very attractive to users of Bitcoin Cash.

He also also adds that CRED they have found a like-minded partner who shares the vision of his company and brings significant experience and sold track record in the aforementioned industry.

Dan Schatt, Co-founder and President of Cred states that he and his company is thrilled to offer Bitcoin.com customers the opportunity to earn interest on their digital assets.

Aussie Digital ICO Seeks To Launch Next Generation Of Online Retail Platform

It has been reported that Austalia-based Aussie Digital is seeking to shake up the status quo set by e-commerce giants Amazon and eBay.

In what it describes as the as the next generation of online retail platform Aussie Digital is poised to release a platform that will directly compete with the likes of Amazon and eBay offering the same functionality and features with one glaring difference- customers will be able to pay with both crypto and fiat.

Dubbed as Tradezy the new online retail platform will allow customers to access to the (B2B) Trading platform making wholesale product cost effective, user friendly and offer smart search engine.

The platform was designed to help small businesses and new businesses setup quickly and at minibal cost with each member who joins will automatically have a crypto wallet created for them that is linked to Tradezy.

The Aussie Digital tokens will play a pivotal role in the ecosystem of Tradezy as it will create uptake and increase the value of the tokens as more vendors sign up.

The Pre-Sale of the Aussie Digital ICO begins May 27th and ins expected to sell out quickly.

Headlines for the world of Cryptocurrencies - May 08, 2019

Crytpo Analytics Firm States Mildly Bullish For May 2019 / University From Turkey Opens Blockchain Center At Northeastern University In Boston / Binance Lost 7,000 BTC From Hackers / Justin Sun Offers To Cover Binance’s 7,000 BTC Stolen By Hackers / Diminishing Mining Hashrate In The Past 30 Days For Bitmain

Headlines for the world of Cryptocurrencies - May 07, 2019

The Way Summit In Moscow / The Central Bank of Iran Develops Blockchain Platform / Starbucks Working On Blockchain-Enchanced Coffee Tracking Platform / Students In Moscow Piloting Blockchain E-Voting In June / Institutional Bitcoin Trading In Fidelity May Boost BTC Prices As Much As $2,000

Headlines for the world of Cryptocurrencies - May 06, 2019

Lightning Network App Comes To Apple Smartwatches / Over 50 Software Engineers Working On Cardano / Increasing Number Of High Net Worth Individuals In The Crypto Space / There are Around 22 Million US Crypto Traders / Fidelity To Starts Bitcoin Trading