Autopsy of the Bitconnect Implosion: Ponzi, Centralization, Governance

Autopsy of Bitconnect: Ponzi, Centralization, GovernancePonzi lending smart bot scam Bitconnect finally did what most sane observers predicted long, long ago. It went splat. And it didn’t collapse due to government pressure, nor flurries of bad press, and certainly not from DDoS hacking attacks. The story is more of a ballad, a great object lesson, and it is the lie […]

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Exchange Problems Mount at Kraken and Coinbase but Bitfinex Reopens Registrations for 10k+ Deposits

Exchange Problems Mount at Kraken and Coinbase but Bitfinex Reopens Registrations for 10k+ DepositsExchanges are regarded by many in the cryptocurrency world as a necessary evil. They provide liquidity and an on-ramp from fiat currency, but many other aspects of their service leaves a lot to desired. From onerous KYC requests to sudden withdrawal of service, nary a week goes by without major exchanges leaving customers seething. This […]

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Bitconnect Slapped with Securities Emergency Cease and Desist Order

Bitconnect Slapped with Securities Emergency Cease and Desist OrderOn Thursday the Texas Securities Commissioner (TSC) signed an Emergency Cease and Desist Order to stop Bitconnect from operating. The mysterious company is a popular bitcoin lending platform with a 4.1 billion USD market capitalization, and is long accused of being a scam. Also read: African Central Banks Told to Ditch Dollar and Buy Bitcoin […]

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Coinbase Accused of Technical Incompetence After Hoarding Millions of UTXOs

Coinbase Accused of “Technical Incompetence” After Hoarding Millions of UTXOsThe Coinbase development team has been accused of “technical incompetence” after amassing millions of UTXOs through careless housekeeping. Unspent Transaction Outputs, or UTXOs, are the change that’s left after sending a bitcoin payment. Wallet providers are supposed to sweep these crumbs up and bundle them in with future transactions. Coinbase, it transpires, has been hoarding […]

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