business

Social Engineering: A Plague on Crypto and Twitter, Unlikely to Stop

The teenager arrested for allegedly masterminding the recent Twitter hack comes from a community that’s been targeting crypto users for years. The group’s attacks have one big thing in common: They take advantage of human fallibility rather than code vulnerability. These so-called social engineering attacks are growing in sophistication, and while the Twitter case is …

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Samson Mow’s Infinite Fleet Game Raises $3.1M on BnkToTheFuture

Pixelmatic’s Infinite Fleet space adventure game raised more than $3 million within 24 hours from investors including Adam Back and Charlie Lee. According to a statement from Pixelmatic, shared with Cointelegraph, the game created by Blockstream CSO and Pixelmatic CEO Samson Mow raised $3.1 million on global online investment platform BnkToTheFuture through sales of its …

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Genesis’ Crypto Lending Rebounds in 2Q; Firm Acknowledges Unsecured Loans

Genesis Capital’s lending portfolio rapidly recovered in the second quarter after a sharp decline that resulted from the mid-March bitcoin (BTC) sell-off.  The cryptocurrency lender’s book of active trading loans increased 118% from the end of the first quarter to $1.4 billion at mid-year, the firm disclosed Tuesday. The blistering pace of growth was likely …

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The 2020 Rainy Season Is Tougher Than Ever for China’s Bitcoin Miners

The rain has come. The machines are humming. This should be the best time of the year for China’s bitcoin miners. The monsoon season, generally from June to October, brings excessive rain and thus cheap hydro electricity. But this year is different, proving to be harder than ever for China’s bitcoin miners and mining farm …

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Ripple Q2 2020 Report: XRP Sales Increased 19-Fold

Sales of Ripple’s XRP token in Q2 surged after hitting a low in the first quarter, while the firm’s On-Demand Liquidity network remains popular. According to Ripple’s quarterly report released on August 3, sales of the firm’s XRP token were 18.6 times higher in Q2 2020 compared to Q1. The crypto firm stated XRP sales …

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Dish buys Ting Mobile to expand its wireless business

Ting Mobile Dish is adding another piece to its small but growing wireless business. On Monday, the company announced a deal to acquire the customer base of mobile virtual network operator (MVNO) Ting Mobile from Tucows. As part of the agreement, the latter will also provide infrastructure services to Dish, helping facilitate things like billing …

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Electric Capital’s New $110M VC Fund Is 90% Institutions

Crypto VC firm Electric Capital has closed its second fund at $110 million. Of the money raised, 90% of it is institutional capital. “The early-adopter, forward-thinking investors are now significantly off zero and now everyone is looking at those guys and saying, ‘Oh, maybe we should be off zero as well,’” Electric Capital co-founder Avichal …

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Charlie Lee, Adam Back Lead $3.1M Private Token Raise for Blockchain Game ‘Infinite Fleet’

Online space strategy game “Infinite Fleet,” developed by Pixelmatic, has raised $3.1 million through a private security token offering (STO). Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital …

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Goldman Sachs: Gold Will Hit $2,300 by 2022. What About Bitcoin?

Major investment banking company Goldman Sachs says the price of gold will rise 20% to reach $2,300 before the end of 2022. The commodity hit new record highs on July 31 at more than $2,000 per ounce, but Goldman believes it still has a long way to go. According to a report cited by Bloomberg, …

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OKCoin Says Institutional Investors Benefit Most From OCC Crypto Clarity

Recent digital asset custody clarity from the U.S. Office of the Comptroller of the Currency, or OCC, will likely affect institutional investors more, according to OKCoin CEO Hong Fang. “The biggest impact will potentially be on institutional investors,” Fang told Cointelegraph. She added: “Retail investors have a much wider range of existing choices (and preferences). …

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