Welcome to In Case You Missed It (ICYMI), a blitzkrieg of spicy crypto news from your decentralized best friend, Linzerd. Bitcoin ATMs appear likely to be used to launder money. 3D printed heads beat biometric security. Institutions are scared by the bear market. Dave Rubin accepts crypto donations. Tether might be a safe stablecoin after all, and Coinbase lists four new ethereum tokens.
Bitcoin ATMs Launder Money
A new feature article by Bloomberg found Bitcoin ATMs are excellent vehicles for laundering money. The article states obscure bitcoin ATM companies operate businesses that don’t really comply with KYC procedures as required by law. Despite this, there are hundreds of these bitcoin ATMs spread across the country awaiting license approval. Still, there are already bitcoin forensic tools, so nothing is really anonymous anymore.
Biometrics Can Be Beaten
While the new security feature of many phones uses biometric information, such as facial recognition, and even part of your torso, it is really not secure at all. A new article from Tech Crunch has discovered these so-called modern security innovations can be fooled by 3D printed mannequins. All android phones were fooled by the 3D printed head, for example. The iPhone was the only phone that was not fooled. At least Apple takes security seriously.
Institutions Scared by Bears
Not only traders and hodlers feel fear and anxiety because of this bear market. A new report states institutions are also fleeing the cryptocurrency market, according to research data from JPMorgan. Key indicators for institutional involvement have dwindled such as volumes of futures trading and also median transaction amounts. Institutions are not holders and are in it for profit, so this is not really surprising.
Dave Rubin Accepts BCH and BTC in Protest
There is an uproar right against a series of suspensions of known people from Patreon, a middleman service for content creators to receive donations from their fans and supporters. Dave Rubin raised the subject, stating he is accepting bitcoin as a form of donation. He is pretty sure Bitcoin will play a great role in the future of donations and monetization of content.
Coinbase Lists Four New Ethereum Tokens
Coinbase announced they are introducing four new ethereum tokens in their Pro service: Dai (DAI), Golem (GNT), Maker (MKR), and Zilliqa (ZIL). Maker and Dai are extremely interesting because this pair forms the DAI algorithmic stablecoin. These new currencies will be available in a limited way depending on the residence of the users. With this move, Coinbase keeps listing ethereum tokens while giving XRP the cold shoulder. Don’t cry Ripple fans, everything will turn out fine in the end.
Tether Might Not be a Charade After All
According to an article published by Bloomberg, they have read and examined documents that suggest Tether could indeed be backed by dollars in a 1:1 proportion. They reviewed cash reports over four months and found out that even if these documents don’t describe it all, cash seems to be consistent with the number of tokens emitted. So anti-Tether talk could’ve been FUD all along.
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