DarkMarket Shut Down By German Police – Bitcoin Magazine

Popular darknet marketplace DarkMarket, which hosted an estimated half million users, was shut down by German police authorities in a raid conducted over the weekend.  Announcements from prosecutors in the cities of Koblenz and Oldenburg indicated that the operator of the marketplace was headquartered somewhere near the border between Germany and Denmark. The marketplace’s server was officially turned off yesterday. “Police in the northern city of Oldenburg ‘were able to arrest the alleged operator of the suspected world’s largest illegal marketplace on the darknet, the DarkMarket, at the weekend,’ prosecutors…

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Top 100 Bitcoin addresses accumulated $11B more BTC in the past 30 days

The top 100 richest Bitcoin addresses are increasingly bullish, accumulating 16% more Bitcoin over the last 30 days.  In total these addresses added 334,000 more Bitcoin to their bags, or around $11 billion worth. The majority barely reacted to Bitcoin’s recent price drop from $41,000 to below $33,000. Only seven addresses conducted a transfer out of the wallet since the most recent all-time-high on January 10. Of the addresses that have transacted in the last 30 days, only eight of them have more than ten transactions to their name since…

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Kim Dotcom Discusses the Swelling Crypto Economy and His Plans to ‘Accelerate P2P Electronic Cash’

This week, news.Bitcoin.com chatted with Kim Dotcom, the founder of the now-defunct file hosting service Megaupload and the creator of the content monetization application called K.im. The Internet entrepreneur Dotcom is a big believer when it comes to the crypto economy and during the conversation, we discussed subjects like bitcoin cash, the recent Big Tech censorship, and how cryptocurrencies will forward financial freedom. Kim Dotcom is a well known Internet entrepreneur and political activist that believes the crypto economy will continue to swell in value. Dotcom is well known for…

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Here’s why IOST, Horizen (ZEN) and Avalanche (AVAX) surged as Bitcoin crashed

Bitcoin’s (BTC) recent plunge could have been caused due to profit-booking by institutional investors, according to a report by crypto fund manager CoinShares. The report noted a sharp drop in institutional inflows during the first week of the new year and weekly outflows from several crypto investment products. Crypto market data daily view. Source: Coin360 While the recent 28% decline may have scared some new investors, Bitcoin HODLers were likely unfazed as they’ve encountered six larger corrections during Bitcoin’s massive bull run in 2017. Therefore, describing a 20% fall as a…

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Achieving Bitcoin Anonymity Through Mixers – Bitcoin Magazine

This is a promoted article provided by BitMix.Biz A bitcoin mixer, also known as a bitcoin blender or tumbler, is a service designed to ensure the anonymity of Bitcoin transactions using a special mixing algorithm where bitcoin from several sources are combined and mixed to rid coins of compromising traces of past transactions to hide their origin and protect the privacy and anonymity of users. The architecture of the cryptocurrency is designed in such a way that each of the Bitcoin transactions is recorded in the public, unaltered registry on…

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OCC’s Brian Brooks thinks that DeFi can root out bias and fraud in traditional banking

In an opinion piece published in the Financial Times on Tuesday, Acting Comptroller of the Currency Brian Brooks put forward the need to reconfigure banking regulations for an age of algorithms.  Brooks, who currently leads the Treasury’s Office of the Comptroller of the Currency, compared existing banking regulations to traffic laws. He further used the analogy of self-driving cars for new steps in decentralized finance. “Just as the original rules of the road protected us from other drivers, so our current bank regulations exist mainly to prevent human failings,” wrote…

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Off-Chain Contracts – Bitcoin Magazine

Taproot is currently the most likely next upgrade for Bitcoin. It is one of a few upgrades that are currently being worked on that users and developers would hope to eventually see activated on the network.  All of these upgrades share a general theme that will likely be the theme of many future upgrades as well. This theme is making contracts unicast, or more simply put, moving contract logic off-chain, and leaving it up to the user, instead of the network, to validate and enforce their contract. Moving to a…

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Crypto Futures Exchange Bakkt Going Public at a Valuation of $2.1 Billion

Bitcoin futures exchange Bakkt is going public via a merger with VPC Impact Acquisition Holdings, a special purpose acquisition company (SPAC) created for taking startup firms public. Both companies have now confirmed the transaction, and will be listed on the New York Stock Exchange (NYSE) under a new name – Bakkt Holdings Inc., – sometime in the second quarter of 2021. Rumours about the deal have swelled since early January. After the merger, Bakkt is expected to have an enterprise value of $2.1 billion, the company announced on Jan. 11.…

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DeFi coverage protocol expands protection against centralized exchange hacks

DeFi coverage protocol Nexus Mutual expanded the list of centralized exchanges eligible for incident protection. Users trading on Binance, Kraken, Coinbase and Gemini are now able to buy protection in the event of an exchange hack or prolonged withdrawal downtime. The project announced the new integrations on Monday as part of their “custody cover” initiative. Users who buy coverage will be eligible for compensation if the custodian gets hacked and the user loses more than 10% of their funds. Alternatively, the claim can be honored if the custodian suspends withdrawals…

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Bullish or bearish? PayPal hosts $242M in crypto trading over 24 hours

Global payments provider PayPal has doubled its previous crypto volume record, with $242 million worth of digital assets changing hands on the platform during Jan. 11. According to crypto market data aggregator Nomics, yesterday’s trading dwarfed PayPal’s previous volume record of $129 million recorded on Jan. 6. Since Jan. 1, daily volume has increased by 950% from $22.8. With the spike in PayPal’s volume coming amid Bitcoin’s rally into new all-time highs, the U.S.-based payments firm appears to be gathering popularity among retail traders. Nuggets News’ Alex Saunders asserted the…

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