Welcome to In Case You Missed It (ICYMI), a blazing fast block of hacked funds by your favorite Binance employee, Linzerd. Binance blocks funds related to Cryptopia’s hack and also launches a new fiat to crypto exchange. Kraken CEO advises against storing crypto on exchanges. Ford will use blockchain to fight child labor exploitation. Venezuelan stock market moves less than a half the volume of Localbitcoins, and Bitwage now allows paying W-2 employees in crypto.
Binance Blocks Funds From Cryptopia
Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. https://t.co/i0PeahLzic
— CZ Binance (@cz_binance) January 16, 2019
Popular cryptocurrency exchange Binance has blocked funds related to the hack of Cryptopia, a New Zealand based cryptocurrency exchange whose security was breached recently. Changpeng Zhao, CEO of Binance, mused, “I don’t understand why the hackers keep sending to Binance.”
Binance Launches Fiat to Crypto Exchange
Binance has opened a new, independent exchange in a British dependency called Jersey. Binance Jersey users will be able to trade cryptocurrencies like bitcoin and ethereum against the British pound and the Euro. The exchange is still hiring personnel for various functions, and it is expected to employ more than 40 people from the island, focusing into British and European customers.
Kraken CEO Calls Against Storing Crypto In Exchanges
PLEASE do not store more coins on an exchange (including @krakenfx) than you need to actively trade. Use @LedgerHQ or @Trezor. DEXes are not a panacea — look at The DAO. Open source just means exploits will be discovered sooner (probably not by good guys). 🙏 https://t.co/LmzhtCjpM0
— Jesse Powell (@jespow) January 16, 2019
Jesse Powell, CEO of Kraken, an important American exchange, made a call for customers and general users to not store more cryptocurrencies on exchanges than they are effectively trading. It was likely a response to the Cryptopia exchange hack (see above). Jesse also called on customers to use hardware wallets like Trezor or Ledger.
Ford Will Use Blockchain Tech to Track Cobalt Origins
Ford will use a blockchain to track the origin of the cobalt used for manufacturing its cars, according to a note by Forbes. It is estimated more than 20% of the cobalt mined and needed for manufacturing is recovered by children. Ford has decided to partner up with local mining companies in the Democratic Republic of Congo, IBM, and others to ensure that the real origin of the cobalt will be recorded on a blockchain to have a registry of the supply chain and discourage illegal mining and exploitation.
Venezuelan Stock Market Moves Less Money Than Half of the Cryptocurrency Market
The Venezuelan stock market, battered and bruised by all the problems and sanctions the country has suffered (and keeps suffering), has shrunk significantly. It reports less than half of the movement than the cryptocurrency market makes in LocalBitcoins. This is a clear sign that shows cryptocurrencies have achieved an important status overtaking the traditional market of a country.
Bitwage Allows Paying Employees and Taxes with Bitcoin and Ethereum
Bitwage, a dedicated cryptocurrency payroll service provider, announced they are now able to pay W-2 employees and their payroll taxes in all 50 US states, plus Puerto Rico, funded in Bitcoin and Ether. This milestone had been planned long ago, but recently they partnered with Simply Efficient HR, a Texas-based company. Companies can pay their wages in crypto, and employees can choose which percentage to keep in crypto and which percentage to convert to dollars.
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