TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. UK seizes £150 million from dormant accounts. Antminer T19 launched by Bitmain. Tether now on OmiseGO sidechain. Exchanges still hold 16% of all BTC available. Samourai wallet scolds Wasabi over Sybil attack, and BitMEX launches Quanto BCHUSD perpetual contracts.
UK Seizes £150 Million From Dormant Accounts for Coronavirus Relief
The Culture Secretary of the UK announced £150 million corresponding to dormant bank accounts (accounts that haven’t been moved in 15 years) will be seized, with funds to be used for coronavirus relief. The funds will be distributed to charities and organizations to foment credit and social investments, according to the information provided. The government is studying to expand this program to include assets from financial investment sectors.
Antminer T19 Launched by Bitmain
Bitmain, the world’s leading crypto mining manufacturer, launched a new ASIC in their Antminer 19 series: the Antminer T19. The Antminer T19 is the third miner launched as a part of the 19 series, after the S19 and the S19 Pro. It features the same chips available in its older siblings, but with a performance of 84 TH/s and has a power efficiency of 37.5 J/TH. The first batch of the Antminer T19 is already available for sale on the Bitmain site, to be shipped next June 21st with a launch price of $1,749, a little less expensive than the S19.
Tether Launches on OmiseGO Sidechain Plasma
Tether, the popular dollar-pegged stablecoin, integrated its token on a sidechain of the OMG project. This integration marks the first time Tether launches onto an Ethereum sidechain. The main objective behind this move would be to ease the load Tether transactions put on the Ethereum network … which has now become the most used vehicle for the token. While Tether is available on other blockchains, such as TRON, its use on them has not been generalized yet.
Exchanges Still Hold 16% of BTC Available
While exchanges have been called out for security faults, suffering hacks since last year, 16% of all the BTC available is being kept on exchanges, according to research from The Block. Coinbase is the exchange holding the most BTC, with approximately 5.4% of all BTC in circulation. The BTC number exchanges have been holding for users has been going down since February, when exchanges held almost 20% of all the BTC available. Seems speculation is the second most important use for BTC, apart from HODL.
Samourai Wallet Attacks Wasabi Over Sybil Attack
This is absolutely outrageous.
This is called a Sybil attack, and the operator of this mixing software is admitting – and even laughing about it – that Sybilling their users is official company policy.
— Samourai Wallet (@SamouraiWallet) June 1, 2020
Samourai Wallet, one of the most important BTC privacy-oriented wallets, directed its criticism towards Adam Ficsor, one of the operators of Wasabi, another privacy-oriented BTC wallet, for creating a Sybil attack by putting their own resources in its CoinJoining pools. Samourai accused Wasabi of this behavior back in 2019, when they alerted of a deanonymizing hot wallet. Samourai and Wasabi have had a feud since that time, with Adam Ficsor declaring it was “at least not boring,” during an interview he gave to CoinSpice.
BitMEX Launches Quanto BCHUSD Perpetual Contract
BitMEX, a cryptocurrency derivatives exchanges, announced the launch of a new perpetual futures instrument based on Bitcoin Cash: the Quanto BCHUSD perpetual contract. This contract will allow BTC holders to post long or short bets on the price of BCH with BTC collateral with a 25x level of leverage. The new Quanto line of products represent “further diversification of trading opportunities for users,” as stated by the BitMEX announcement. This is the third Quanto contract launched, after the ETHUSD and XRPUSD perpetual futures.
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