Libra cryptocurrency linked to Facebook changes name to Diem amid backlash

Dec. 1 (UPI) — The Libra cryptocurrency project Facebook launched in 2019 changed its name Tuesday to get a fresh start.

The association for the cryptocurrency project headquartered in Geneva, Switzerland, announced in a press release it was changing its name from Libra Association to Diem Association. The group will now be known as Diem Network, and the digital currency will be called the Diem Dollar, Bloomberg reported.

Diem, which means “day” in Latin, signals a “new day for the project,” the release said.

The name change is also about “reinforcing its organizational independence as it progresses toward regulatory approval for launch” of its first digital coin, according to the release.

“We like the connotation of it kind of being a new day for the project,” Diem Association CEO Stuart Levey told Bloomberg. “We wanted a new start.”

“The Diem project will provide a simple platform for fintech innovation to

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Guggenheim says it could invest up to $530 million in a bitcoin trust as the cryptocurrency flirts with new record highs



a close up of electronics: REUTERS/Stephen Lam


© REUTERS/Stephen Lam
REUTERS/Stephen Lam

  • Guggenheim Partners revealed in a Friday regulatory filing that its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust.
  • The trust solely invests in bitcoin, and a 10% bet from Guggenheim’s fund equates to roughly $530 million.
  • The filing comes as bitcoin climbs back above $19,000 after tumbling through the Thanksgiving holiday. Though the token has more than doubled through the year, it still trades below its 2017 record of $19,783.06.
  • Watch bitcoin trade live here.

Guggenheim Partners is the latest Wall Street firm to show interest in bitcoin, and a Friday regulatory filing signals the firm could make a massive investment in the soaring cryptocurrency.

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Guggenheim revealed its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust, according to a

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How Social Media Is Helping Cryptocurrency Flourish

For all the buzz around cryptocurrency in the past decade or so, the industry is still far off the radar of most average internet users. 

In fact, a 2019 survey from Alpari found that 60% of Americans don’t know what cryptocurrency is—and lots of people in the industry, whether they’re traders or entrepreneurs in blockchain-related industries, see this as an opportunity. 

They’re creating a plethora of social media groups and YouTube channels dedicated to crypto education. And these resources are only growing. 

One insider who’s been watching the crypto industry is entrepreneur Jonathan Jadali, who’s been trading in cryptocurrency since he was 18. Today, he owns a PR agency and remains steeped in the blockchain and cryptocurrency industries. 

I chatted with Jonathan about how social media is changing the cryptocurrency landscape.  

Shama Hyder:

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GoDaddy staff fall prey to social engineering scam in cryptocurrency exchange attack wave

GoDaddy employees were exploited to facilitate attacks on multiple cryptocurrency exchanges through social engineering and phishing. 

Staff at the domain name registrar were subject to a social engineering scam that duped them into changing email and registration records, used to conduct attacks on other organizations. 

As reported by security expert Brian Krebs last week, GoDaddy confirmed that the scam led to a “small number” of customer domain names being ‘modified” earlier this month.

Starting in mid-November, fraudsters ensured that email and web traffic intended for cryptocurrency exchanges was redirected. Liquid.com and the NiceHash cryptocurrency trading posts were impacted, and it is suspected that other exchanges may also have been affected. 

See also: Cryptocurrency platform dangles ‘bug bounty’ carrot to hacker who stole $2 million

According to Liquid CEO Mike Kayamori, a security incident on November 13 was caused by GoDaddy incorrectly transferring control of an account related to the firm’s

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Hit by Cryptocurrency Curbs, Chinese Fund Managers Look Elsewhere to Ride Bitcoin Bull | Technology News

By Samuel Shen and Alun John

SHANGHAI/HONG KONG (Reuters) – As the price of bitcoin soars, Chinese cryptocurrency asset managers are looking to expand in places such as Hong Kong and Singapore, skirting an intensified crackdown at home.

Cryptocurrency-focused hedge funds have grown assets under management and registered hefty gains this year thanks to bitcoin’s recent surge to over $18,000, close to its 2017 high.

At the same time, Beijing has been tightening already strict scrutiny over cryptocurrencies as the People’s Bank of China (PBOC) prepares to launch its own digital currency, partly a response to the threat from currencies like bitcoin, officials say.

Beijing banned virtual currency trading in 2017, stopping a free-wheeling emerging crypto industry, and causing China’s share of global bitcoin trading to slump to less than 4%, from nearly 17% in 2017, according to CoinShare, Europe’s biggest digital asset manager.

Consequently, Chinese businessmen are looking elsewhere

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Attackers Dupe GoDaddy Staff Into Helping Them Take Down Cryptocurrency Services

Roughly one year after a data breach at GoDaddy compromised 28,000 customer accounts, the world’s largest internet domain registrar is once again at the center of a security scandal. Hackers brought down several cryptocurrency services using GoDaddy domains in recent weeks, and apparently the company’s own staff unwittingly helped in these attacks.



a close up of a computer keyboard


© Photo: Issouf Sanogo (Getty Images)


Hackers purportedly duped GoDaddy employees into handing over the reins to several cryptocurrency services’ web domains, and then used those permissions to make unauthorized changes and bring down the sites, per a report from the cyber-centric blog Krebs On Security on Saturday. While it remains unclear how many companies fell for this scam, the cryptocurrency trading platform Liquid and mining service NiceHash uncovered attacks within days of each other.

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“On the 13th of November 2020, a domain hosting provider ‘GoDaddy’ that manages one of our core domain names incorrectly

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Attackers Dupe GoDaddy Into Abetting Cryptocurrency Site Takedowns

Illustration for article titled Attackers Dupe GoDaddy Staff Into Helping Them Take Down Cryptocurrency Services

Photo: Issouf Sanogo (Getty Images)

Roughly one year after a data breach at GoDaddy compromised 28,000 customer accounts, the world’s largest internet domain registrar is once again at the center of a security scandal. Hackers brought down several cryptocurrency services using GoDaddy domains in recent weeks, and apparently the company’s own staff unwittingly helped in these attacks.

Hackers purportedly duped GoDaddy employees into handing over the reins to several cryptocurrency services’ web domains, and then used those permissions to make unauthorized changes and bring down the sites, per a report from the cyber-centric blog Krebs On Security on Saturday. While it remains unclear how many companies fell for this scam, the cryptocurrency trading platform Liquid and mining service NiceHash uncovered attacks within days of each other.

“On the 13th of November 2020, a domain hosting provider ‘GoDaddy’ that manages one of our core domain names

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Cryptocurrency Leaders and Blockchain Legends Meet in Puerto Rico to Address the Future of the Internet and the Global Economy November 16

San Juan, Puerto Rico, Nov. 12, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) – Crypto Mondays, Dorado Genesis and the Act 20/22/60 Special Committee of the Puerto Rico Chamber of Commerce, today announced their first joint event, “THE FUTURE OF THE INTERNET AND THE GLOBAL ECONOMY”, will be held on Monday, November 16, 2020. Cryptocurrency leaders will gather together for the 3-hour online event transmitted from Puerto Rico. The cryptocurrency and blockchain event will be powered by Zoom, starting at 5:00 PM AST as part of the Global Entrepreneurship Week.

Agenda topics will cover bitcoin, mining, stablecoin and staking fundamentals, no barrier entry, entrepreneurship opportunities in crypto, the 4th Technological Revolution and the future of the internet and the global economy.

Confirmed speakers include:

  • ANDREW KEYS – Managing Partner at Digital Asset Risk Management Advisors (DARMA Capital), who recently partnered with LiquidStake to tackle the staking Liquidity problem for Ethereum

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