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Cryptocurrency News Today: Coinbio, Binance, Qarnot, Money Tap, Bitcoin, Ripple, Ethereum, and More

Twitter Says It will Stop Cryptocurrency Scams by Removing Manipulative Accounts (
Twitter is taking steps to reduce the amount of cryptocurrency scams on its platform. In recent weeks, a number of scammers on Twitter have impersonated Ethereum co-founder Vitalik Buterin, Elon Musk, or John McAfee. They’ll use deceptive tactics like a slight misspelling of a username or use the same or similar avatar of the verified account, and tell followers to send them a small amount of currency to receive a bigger amount back. In a statement to The Verge, Twitter says it will begin taking down these types of accounts. “We’re aware of this form of manipulation and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner.”

Binance Cryptocurrency Sell-off Disaster Blamed on Mass Phishing Campaign (
Binance has rejected rumors of a security breach after users reported that their funds were being sold off without consent. The chaos erupted on Wednesday when a sudden surge of strange market activity caught the eye of Binance itself and many users. In their droves, panicked traders reported that their alt coins were being sold and converted into Bitcoin (BTC) and other cryptocurrencies. One of the first users to report fraudulent activity said: “Binance just sold all my alts at market rate and I have got just the Bitcoin now. Is it because of account getting hacked or Binance bot issue? Have raised a ticket for this.”

Pixabay/Public Domain

Pixabay/Public Domain

Japanese Banking Consortium Taps Ripple to Launch Mobile Payment App (
A consortium of 61 Japanese banks have partnered with blockchain firm Ripple to offer a new mobile app that will make it easier for banks to settle transactions instantly round the clock. The new app, dubbed Money Tap, will enable customers of the consortium to make domestic payments instantly using a bank account, phone number, or QR code. The app will initially be rolled out by the end of this year to customers of SBI Sumishin Net Bank, Suruga Bank, and Resona Bank, who are members of the consortium. Ripple director of joint venture partnerships Emi Yoshikawa said: “The release of the MoneyTap mobile app shows Ripple’s continued commitment to provide its partners across Asia and the world with blockchain-powered solutions that dramatically improve the customer payments journey.

Coinbio Is The Canadian Cryptocurrency And ICO Exchange Of Choice (
The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we’re profiling the companies competing for the BZ Awards. Our next feature is on Coinbio. What does your company do? What unique problem does it solve? Stefan Katanic, co-founder: Coinbio is an exchange that has principles of integrity, security, power, value, privacy, rights, and inclusion built into the company infrastructure to make cryptocurrencies more accessible to mainstream participants. We are currently positioned to become the first regulated block exchange based in Canada’s vibrant FinTech ecosystem. We allow vetted SME issue their own ICO/Tokens on our platform.

Company Launches a Heater That Works By Mining Cryptocurrency (
Qarnot, a French startup, has revealed a new computing heater designed specifically for mining cryptocurrency. Named, QC1, this heater is operated by a passive computer inside that is set up for mining. A room can actually get pretty warm with just a few desktop computers, even though most people use laptops these days. In fact, one of the largest challenges when building data centers is heat emission, because hundreds of computers have to be kept cool. Qarnot has already designed three generations of computing heaters with multiple CPUs and sold them to construction companies that needed heaters for their new buildings. Then, several companies such as Air Liquide, Blender, BNP Paribas and Société Générale rent those servers for their own business needs.

Despite Security Concerns, Vast Majority Of Businesses Interested In Cryptocurrency (
Despite concerns over volatility and security, research has shown that the vast majority of businesses are open to using cryptocurrency for business transactions, and that positive awareness is being raised over cybersecurity. A study by Neustar International Security Council (NISC) has revealed that 80 percent of organizations are interested in utilizing Bitcoin, Litecoin, and other cryptocurrencies for transactions. Savvy businesses are also aware of the potential gains available on the volatile cryptocurrency market, as 48 percent believe using cryptocurrency for transactions could generate income through increased value.

Arizona’s Bitcoin Tax Bill Just Got a Big Vote of Confidence (
A committee in the Arizona House of Representatives has recommended the passage of a bill allowing state residents to pay their tax bills in bitcoin. Public records show that the House’s Ways and Means Committee advanced the measure on March 7. While the bill won’t be finalized until the full House puts it up to a vote, the endorsement raises the likelihood that it will be sent to the governor’s desk for signature – and become state law. Lawmakers first began considering the measure back in January, as CoinDesk previously reported. If approved, residents can pay “tax and any interest and penalties” using “bitcoin or other cryptocurrency.” While the specifics of this process will likely need to be fleshed out further, the measure also calls for the state’s Department of Revenue to convert the cryptocurrency to U.S. dollars within 24 hours.

Coincheck Crypto Exchange to Compensate Hack Victims (
Japanese cryptocurrency exchange Coincheck has announced it will start compensating customers that suffered losses in its January hack starting from next week. In a press conference Thursday, Coincheck CEO Koichiro Wada and COO Yusuke Otsuka said that the platform will release more details of the compensation process in the next few days. The pair also revealed a further plan to resume trading services for some cryptocurrencies next week. As reported by CoinDesk, Coincheck first confirmed some 500 million NEM token had been stolen on Jan. 26, which at the time were worth around $530 million. Soon after the incident, the platform announced it would compensate each stolen token at a rate of $0.81 per token – an amount near $420 million.

Multi-Million Dollar Grants to Ethereum Projects Issued, Focus on Scalability (
The Ethereum Foundation is always looking to make a positive impact. They are actively looking into supporting applications, smart contracts, and other innovative projects. Earlier this week, the Ethereum Foundation announced their first grants to help bolster this ecosystem. The Ethereum Foundation Grants: With a grant issued by the foundation, developers can keep working on their projects. There is a lot of research and development that goes into every single project. Empowering these innovative developers in any way possible is what the Ethereum Foundation aims to achieve first and foremost. Collaboration is critical in the way of blockchain technology and any feature derived from it.

Bahrain Steps Up Cryptocurrency Push (
The island nation of Bahrain may soon emerge as a global cryptocurrency exchange hub with the government enabling a ‘regulatory sandbox’ for the same. Khalid Saad, Chief Executive Officer of Bahrain Fintech Bay told BusinessLine, “As long as the business qualifies as a fintech (financial technology), we will welcome it. The focus is on developing the culture of entrepreneurship in Bahrain.” “The decision to regulate, monetise or legitimise it as a legal tender will be subject to a decision of the regulator, that is the Central Bank of Bahrain.”