Traders Significantly Increase BTC Purchase Volumes on Coinbase
Cryptocurrency exchange Coinbase reported that during the cryptocurrency market crash on March 12, the platform recorded a significant increase in BTC purchases.
On March 12, the cryptocurrency market fell to a record low and showed significant correlation with traditional assets. At the same time, cryptocurrency traders on the American exchange Coinbase took advantage of the situation and significantly increased the volume of BTC purchases, according to the exchange's report.
Coinbase analysts noted a "record" increase in activity at the time of the cryptocurrency market decline and within 48 hours after it. The first cryptocurrency became the most popular asset - trading volumes increased 6 times, and the number of traders increased 3.5 times compared to the average.
The second most popular was broadcast. ETH trading volumes have grown 7 times, while the number of traders has increased fivefold. The rest of the cryptocurrencies showed about the same increase in both trade volumes and the number of active traders.
Also, during the fall of the cryptocurrency market, $ 1.3 billion was transferred to the Coinbase exchange in fiat and digital currencies, which is five times the average. The number of new users has doubled. Cryptocurrency was bought in 67% of cases, although on average this figure is 60%.
Skadden Law Firm: SEC's Case Against Telegram Is Inconclusive
Law firm Skadden, affiliated with Telegram, sent a letter to the court asking the US Securities and Exchange Commission (SEC) for further clarification on whether the current ban on the distribution of GRAM tokens to non-US investors applies.
"The SEC is seeking to extend the scope of federal laws to foreign transactions, where the only conceivable link with the United States is the likelihood that the instrument will be acquired by American buyers in the future," the letter said.
Lawyers found other flaws in the financial regulator's argumentation:
“The SEC claims that Telegram paid commissions to foreign brokers to find new investors. And that these brokers allegedly found investors in the United States. This is not documented and ultimately has nothing to do with the issue under consideration "
In conclusion, Skadden's lawyers asked the agency to clarify the issue of the distribution of Gram tokens.
Recall that the other day Telegram lawyers asked the court to clarify the scope of the court's decision to ban the distribution of Gram tokens. Representatives of the messenger are confident that the decision on the ban, made by Judge Kevin Costel, concerns exclusively agreements with US Gram investors.
In response, the SEC went to court with a request not to limit the ban on the planned distribution of Telegram Gram tokens only to American investors.
Hackers Steal Over 1.4M XRP Through Ledger Live Chrome Extension
Attackers stole over 1.4 million XRP ($ 230,000) using the fraudulent Ledger Live Chrome extension. This was reported by Twitter user xrpforensics.
The extension is distributed through advertisements in the Google search engine. It has nothing to do with the hardware wallet maker Ledger.
After the user installs it, it gains access to the passphrases to recover the wallets and transfers them to the attackers, who, based on these phrases, generate keys and withdraw cryptocurrencies.
“In the last month alone, they have stolen more than 200,000 XRP,” it said.
Subsequently, xrpforensics wrote that the real amount could be much higher. At the same time, other cryptocurrencies could have been stolen, but he has no information about this.
If you take a closer look at how the extension works, you will find that it sends a request to transfer user data to its server.
If users do not want to fall for the tricks of scammers, it is recommended to download tools for working with hardware wallets only from the manufacturer's website.
Another fraudulent scheme related to the theft of XRP is spreading on the network. The cybercriminals created a YouTube channel on which, on behalf of Ripple CEO Brad Garlinghouse, they offer to take part in the distribution of 50 million XRP. About 277,000 people have already subscribed to the channel. It contains only one video offering a fictitious distribution. It was uploaded on March 19 and in 6 days it has already gained over 85,000 views. The attackers acted rather cunningly, as the video included real footage of Garlinghouse's interview, which he gave last month.
The European Union will issue grants for the development of blockchain solutions for the defense industry
The European Commission has announced a tender to develop solutions for the defense industry. Companies can also submit proposals based on the blockchain.
The European Commission has launched the European Defense Industrial Development Program (EDIDP) tender. The list of possible proposals for participation in the tender includes 42 items. The European Commission encourages small and medium-sized enterprises to propose solutions that stimulate innovation and technology adaptation for civil and defense purposes.
Among other things, the program can submit proposals related to "infrastructure based on the cloud and on-premises virtual copy, and that uses the power of the blockchain."
A virtual copy is a digital duplicate of a physical object, system or process. Having a virtual copy on the blockchain allows companies to store information about their products and verify the place of production or records of previous ownership, confirming the legitimacy of the product.
The main goal of such projects should be to make it more efficient to meet current military logistics needs, such as maintenance, supply chains and consumables.
The winning proposals will receive € 254 million in grants from the European Commission to continue developing their defense products or services. Proposals submitted are expected to include research or projects that will adapt technology for defense purposes. Subsequently, this should lead to the creation of products that are low-cost and cost-effective for military use.
Proposals are accepted from April 15 to December 1, 2020. However, the timing of the tender could be extended in case of problems caused by the ongoing coronavirus pandemic.
This isn't the first time blockchain has been used for defense purposes. South Korea began developing a blockchain platform for the defense industry last August. In addition, last summer, the US Department of Defense began building a blockchain-based communications platform.
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