The news is a blow to Tether conspiracy theorists (and the Department of Justice)—if Tether’s tethers are fully backed, “manipulation” just becomes…trading. It is, however, still possible that Tether has allowed its order-books to be overrun by so-called "wash traders" and “spoofers," third-party traders who abuse bitcoin’s price by buying and selling Tethers in quick succession causing artificial price peaks. But at least they’re wash trading with real money. Phew!
Space!
Bitcoin software developer Blockstream has reportedly consolidated its dominion over space—or at least near-earth orbit—with a new satellite over the Asia-Pacific region that will, apparently, let those without Internet in on the Bitcoin network. Blockstream CEO Adam Back suggested this would make the network more “robust” and resilient to government censorship.
To be clear, Blockstream doesn’t own any actual satellites itself, but rather, has equipped certain earthbound bitcoin nodes—the core contributors to the bitcoin network that verify transactions—with low-fi satellite dishes, or “ground stations,” that can broadcast transactions/The Blockchain through geosynchronous satellites, which use old-fashioned radio signals instead of the internet.
The interstellar project, which began in August 2017, is already up and running across the Americas, Europe, and Africa. But what about the Mushroom Kingdom?
Western Union BULLISH on maybe trialing crypto-payments one day
A nice PSA from Odilon Almeida, the president of massive cross-border payments firm Western Union:
“Western Union is ready today to adopt any kind of currency. We already operate with 130 currencies. If we one day feel like it’s the right strategy to introduce cryptocurrencies to our platform, technology-wise it’s just one more currency."
And:
"I think cryptocurrency may become one more option of currency, or assets, around the globe to be exchanged between people and businesses. If that happens, we will be ready to launch.”
Now, we at Debrief are the last to read hype into things like this, but that is pretty…conclusive? At the very least, it’s a step-up from the usual “PayPal junior staffer’s mum BULLISH on finding out what blockchain means.” Not to mention Western Union’s trialing of crypto-based cross-border solutions like Ripple Labs’s xRapid (with, admittedly, limited success). But let’s get off the hype train right here.
Crypto sleuthing firm Chainalysis has added support for Crypto.com’s Cronos blockchain, its native coin CRO, and all CRC-20 tokens that trade on the Cronos chain to its Know Your Transaction service.
This marks the latest upgrade to the Chainalysis KYT service, which flags suspicious and high risk transactions for compliance teams at traditional and crypto financial institutions. The service counts Robinhood (HOOD), BNY Mellon (BK), PayPal (PYPL) and Genesis among its clients.
Cronos is an inte...
It's pretty well known that lots of crypto people have moved into Clubhouse, the hot, audio-based social media platform. The biggest group? Black Bitcoin Billionaires, which claims 17,000 members.
Now Square Inc., via its CashApp, is partnering with the group's organizer, Lamar Wilson, to create more Black millionaires through Bitcoin via “Operation: Satoshi Millionaire.” The month-long campaign began February 4 and focuses on getting Bitcoin into the hands of more Black families, and educating...
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Poyo no! There’s a scammer running amok on Augur. “Poyo,” a mysterious figure associated with a wad of defunct markets, has been exploiting the prediction market’s “invalidity rules,” in which funds staked on badly worded/constructed markets are redistributed evenly to bettors once the market is shuttered. By deliberately designing these markets to guarantee their failure, Poyo has been profiting off this redistribution of funds...