Harvest Finance, a DeFi farming platform, has been hacked to the tune of $24 million, with the hacker causing the 24hr trading volume on Uniswap to jump 15x overnight. After the funds seemed at first lost, Harvest Finance believe they have identified the hacker and are trying to negotiate a return of the funds.
Read the full article at FullyCrypto: https://fullycrypto.com/harvest-finance-hack-sees-uniswap-volume-jump-15x
Interest rates have been at historic lows for over a decade, but were beginning to increase when coronavirus hit. Once the pandemic is under control and the world is back at work however, an interest rate rise will be imminent. How will an interest rate rise, or series of them, affect Bitcoin? The answer could be...badly.
Read the full article at FullyCrypto: https://fullycrypto.com/could-interest-rate-rise-cripple-bitcoin-bull-run
Central Bank Digital Currencies (CBDCs) are suddenly all the rage. China, Korea, France, Japan, and a host of smaller countries are all experimenting to varying degrees with a sovereign stablecoin, with the vast majority of developments occurring in the past year. Widespread adoption of CBDCs would impact the global economy in many ways, but one less recognized impact could be on how cash is viewed in this new paradigm. A digital world could see cash users being scrutinized with the same eyes that cryptocurrency users are currently seen, accused of seeking privacy in their payments.
Read the full article at FullyCrypto: https://fullycrypto.com/cbdc-uptake-could-criminalize-cash-users
Cred, the blockchain banking system which last week revealed that a “fraudulent incident” had resulted in them halting CredEarn deposits and withdrawals, filed for bankruptcy on Sunday night, leaving users facing a loss of funds. A legally-worded press release was posted late Sunday following the filing, with no notification made on the company’s social media accounts. The filing means that the company has admitted it is out of cash, with creditors preparing to fight over what little is left and former partners like Uphold preparing lawsuits.
Read the full article at FullyCrypto: https://fullycrypto.com/cred-files-for-bankruptcy-days-after-fraudulent-incident
PayPal CEO Dan Schulman has said that the traditional financial system is “not working” for low income people as he outlined in greater detail the company’s cryptocurrency plans. Fortune reported that Schulman made the comment during an investor call in which the company’s recent foray into cryptocurrencies naturally featured, with Schulman adding that the size of the waitlist for access was “two to three times” greater than the company had anticipated.
Read the full article at FullyCrypto: https://fullycrypto.com/paypal-ceo-financial-system-not-working-for-many
The class action lawsuit against Overstock executives and their controversial digital dividend is back on after the judge that initially dismissed the case reversed his decision after an appeal. Two leading Overstock executives, including founder Gabriel Byrne, are on the hook for millions of dollars after a group of investors took umbrage at the digital dividend the company offered in 2019 which they considered to be an unlicensed security and led to them experiencing losses on their short calls.
Read the full article at FullyCrypto: https://fullycrypto.com/overstock-lawsuit-back-on-after-judge-reverses-own-dismissal
Another month, another dark web marketplace takedown. In December it was
Sipulimarket, this month it’s German-based DarkMarket, and the taking down of what has been referred to as the largest dark web marketplace in the world has been felt across the other side of the world. DarkMarket was taken offline when its primary administrator, an as yet unnamed 34-year-old Australian man living in Germany, was apprehended by German authorities, which has led two weeks later to Australian police raiding several homes in the suspect’s homeland, where a laptop, cell phones, sim cards, USB drives, and bank cards were seized.
Read the full article at FullyCrypto: https://fullycrypto.com/darkmarket-takedown-leads-to-australian-police-raids
Coinsquare has had a torrid second half of 2020 and it could be about to get worse – the Canada Revenue Agency (CRA) is seeking a court order to force the exchange to hand over user and account details going back to 2013. The National Post reported over the weekend that in September the CRA submitted a filing to the country’s federal court demanding that the Toronto-based cryptocurrency exchange hand over certain information about all its customers for the last seven years, news which will send a shiver down the spine of many early cryptocurrency traders.
Read the full article at FullyCrypto: https://fullycrypto.com/coinsquare-faces-court-order-over-historical-user-data
As more and more companies start launching their own Bitcoin debit cards, BlockFi has decided to go for a world first and launch a credit card. You’ll be able to spend money you don’t even have yet to get your hands on sweet Bitcoin thanks to its 1.5% cash back in Bitcoin.
Read the full article at FullyCrypto: https://fullycrypto.com/blockfis-bitcoin-rewards-credit-cards-is-a-bit-meh