Category: Money

Ripple Labs Fined $700,000 by FinCEN, Will Institute Transaction Monitoring Across Ripple Protocol

Posted on May 5, 2015

Earlier today, Ripple Labs Inc. was fined $700,000 for “willfully violating several requirements of the Bank Secrecy Act (BSA).” The Financial Crimes Enforcement Network (FinCEN) stated that the company issued its own currency (XRP) and failed to implement adequate anti-money laundering measures, in addition to operating as a money services business without the proper authorization from the federal regulatory body. FinCEN worked with the US Attorney’s Office for the Northern District of California to coordinate the civil money penalty against Ripple Labs Inc and XRP II, LLC, which is owned by Ripple Labs. Sale of XRP to Roger Ver A statement of facts included in FinCEN’s assessment of the violations describes multiple situations where XPR II “failed to file, or […]

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BitStamp Exchange Activity Trackable due to Multisig Wallet Implementation

Posted on May 5, 2015

A recently discovered issue with the client-side SDK of Bitcoin software provider BitGo allows anyone to track all incoming and outgoing transactions taking place on the Bitcoin exchange BitStamp. It was discovered by Bitcoin security firm BlockTrail over the weekend. BlockTrail CTO Ruben De Vries first encountered the issue while conducting analysis on the blockchain, “for our own internal purposes.” He found a group of addresses had the same output, allowing them to be tracked. De Vries identified it as the change address, that is the address created to send any remaining bitcoin leftover from a transaction. “If one is able to correlate trends in deposits and withdraws to the price movement (for example, maybe a high velocity of BTC deposits might indicate […]

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It’s Teacher Appreciation Day. Here’s Who I’m Calling:

Posted on May 5, 2015

For Teacher Appreciation Day, U.S. Chief Data Scientist DJ Patil shares the following story about Mrs. Minneti, his high school physics teacher — and his favorite teacher — and the lasting influence she’s had on his life.

Share your own story here, or online using the hashtag #ThankATeacher.

I wasn’t a very good student in high school. From being suspended to getting kicked out of my math class, it was a pretty rough ride. But clearly, I ended up doing something right somewhere along the line — and it was thanks to the amazing teachers who went the extra mile for me.

That’s why today — Teacher Appreciation Day — means so much to me.

Because we’ve all had one of those teachers: the ones that know how to look deep into our souls, see that spark of potential, and then nurture that flame.

I was fortunate enough to give a commencement address about one of those teachers who came to my aid — Mr. Knapp — but there are many more.

One of those was my high school physics teacher: Mrs. Minneti. I was an OK student in her class (which is to say that I wasn’t terrible). But she let me hang out in her classroom late in the school day, when I didn’t have much else to do. She was always ready with great insights on how to think about life and the extremely practical nature of what learning meant. You might say she taught me the lessons of science that weren’t in the book. She asked me questions to which I didn’t know the answers — helping me think at a deeper level.

She was my favorite teacher.

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CNET Founder to Launch BitReserve in India

Posted on May 5, 2015

On May 4, The Times of India reported that Halsey Minor, the multi-millionaire entrepreneur and founder/CEO of BitReserve, engaged a meeting with the local regulators for the company’s future plans to launch its services there. “After the U.S., U.K. and China, we want to now set up operations in India, and we are talking to regulators and potential partners on a range of our Internet-based finance offerings,” Minor told Times of India. The aim of the launch in India is to provide users with “direct control of their money,” as Minor plans to offer BitReserve as a “financial inclusion product which can be used for money transfers.” Officially launched in May of 2014, BitReserve is a bitcoin and fiat currency […]

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The Bitcoin Investment Trust’s GBTC Begins Trading on Public Markets

Posted on May 4, 2015

It has been a long time coming, but as of this morning, the publicly traded shares of the Bitcoin Investment Trust have officially started trading under the ticker GBTC. For the first time in bitcoin’s history, bitcoin can now be bought and sold on the public markets. For the past few weeks, there have been multiple bids placed for shares of GBTC, including one by Maxim Capital for 50,000 shares at $35.00/share. However, there hadn’t been any asks, or offers to sell shares. KGA Americas was the first to place a $44.00 ask for 298 shares of GBTC, which is the equivalent to 29.8 bitcoin at around $440.00 per coin. I might have been first to purchase $GBTC, here’s my […]

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