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Bitcoin (BTC) price slides as US seizes most of Colonial ransom

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A banner with the logo of Bitcoin is seen during the Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida on June 4, 2021.

Marco Bello | AFP | Getty Images

Bitcoin’s price slipped again on Tuesday. The reason for the move was unclear, but could be related to concerns about the security of the cryptocurrency after U.S. officials managed to recover most of the ransom paid to hackers targeting the Colonial Pipeline.

According to court documents, the investigators were able to access the password for one of the hackers’ Bitcoin wallets. The money was brought back by a recently launched Washington task force that was created as part of the government’s response to the rise in cyberattacks.

The world’s largest cryptocurrency slipped over 7% to $ 32,936 at 7:30 a.m. ET, according to Coin Metrics. Smaller digital coins also slumped, with Ether falling more than 7% to $ 2,512 and XRP also falling around 7%.

April 2021 was set to be a stellar year for digital assets, with Bitcoin topping $ 60,000 for the first time. But a recent slump in crypto prices has shaken confidence in the market. Bitcoin fell to nearly $ 30,000 last month and is currently nearly 50% below its all-time high.

The digital currency has only risen 14% since the start of the year, but it has still more than tripled from the previous year.

US is bringing back most of the colonial ransom

On Monday, U.S. law enforcement officials said they had seized $ 2.3 million worth of bitcoins paid to DarkSide, the cybercriminal behind a crippling cyberattack on the Colonial Pipeline.

According to a court document, the Federal Bureau of Investigation was able to access the “private key” or password for one of the hackers’ Bitcoin wallets. Bitcoin has often been the currency of choice for hackers demanding ransom payments to decrypt data locked by malware known as “ransomware”.

Crypto media company Decrypt reported that there were unsubstantiated rumors that the attackers’ Bitcoin wallet was “hacked”, an unlikely scenario.

DarkSide, which allegedly received $ 90 million in Bitcoin ransom payments before it closed, operated a business model called “Ransomware as a Service” in which hackers develop and market ransomware tools and sell them to affiliates who then carry out attacks.

According to blockchain analytics firm Elliptic, the seized funds represented the majority of the DarkSide subsidiary’s share of the ransom paid by Colonial.

John Hultquist, Vice President of Analysis at Mandiant Threat Intelligence, said the move was a “welcome development.”

“It has become clear that we need to use a variety of tools to contain the tide of this serious problem, and even law enforcement agencies need to broaden their approach beyond building procedures against criminals who may be beyond the reach of the law,” said Hultquist .

“In addition to the immediate benefits of this approach, a greater focus on disruptions can discourage this behavior, which is growing in a vicious circle,” he added.

Crypto penetration

A number of issues weigh on cryptocurrencies, including fears of regulatory crackdowns and recent tweets from Tesla CEO Elon Musk.

Chinese authorities last month called for crackdown on crypto mining and trading. Once a major player in the market, China has since scrapped speculative investments in cryptocurrencies, banned a fundraising method known as Initial Coin Offerings, and closed local exchanges.

In the meantime, Elon Musk has gone from being a supporter of Bitcoin to an apparent infatuation within a few months. Musk’s electric car company stopped accepting Bitcoin as a payment method last month due to concerns about its environmental impact, resulting in a sell-off in the crypto market.

“Bitcoin bulls have been chastened by the market retreat and may feel bitten once, shy twice,” Charles Hayter, CEO of digital currency data company CryptoCompare, told CNBC.

“The euphoria has subsided to some extent in the retail frenzy as regulators have moved to soften manias,” he added. “The data shows that institutions continue to corner the market.”

Last week, thousands of bitcoin investors came to Miami for what is considered the largest bitcoin event in history.

The conference had some bizarre high points, including El Salvador’s President Nayib Bukele, who announced plans for the country to accept Bitcoin as legal tender.

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Cryptocurrency

Voyager Digital Becomes the Official Cryptocurrency Brokerage Partner of the Dallas Mavericks

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Voyager is the first international partner of the Dallas Mavericks to join forces to make crypto more accessible to all

TSX: VOYG
OTCQX: VYGVF
Frankfurt Scholarships: UCD2

NEW YORK, October 27, 2021 / PRNewswire / – Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), one of the fastest growing publicly traded cryptocurrency platforms in the The United States, has entered into a five-year exclusive, integrated partnership with the Dallas Mavericks to become the team’s first cryptocurrency broker and international partner. A press conference will take place in Dallas today at 4:00 p.m. Central Time discuss the partnership. To view, please visit: https://www.mavs.com/voyager/.

Voyager and the Dallas Mavericks will work to make cryptocurrencies more accessible through education and community programs, global activations, and fan engagement drives. The partnership also includes the naming rights to the Mavs Gaming Hub, the official game and event location of the Mavs NBA 2K League team and will be announced at a later date.

This partnership makes Voyager the first international partner of the Dallas Mavericks and enables both parties to reach a wider, global audience to increase brand awareness and drive the adoption of cryptocurrencies around the world. In 2019, the NBA gave the teams the opportunity to grant international sponsorship rights outside of them The United States and Canada.

“The Mavs are proud to welcome Voyager to the Dallas Mavericks family,” said the governor of Mavs Mark Cuban. “Crypto assets and applications are changing the way business and personal finances are handled. We believe our partnership with Voyager will enable MAVs and NBA fans to learn more about Voyager and how they can earn more with the Voyagers platform than with traditional financial applications. ”

“We couldn’t be more excited to be working with the Dallas Mavericks to make crypto more accessible to everyone,” said Steve Honest, CEO and Co-Founder of Voyager. “This partnership gives us the opportunity to educate people around the world about the use of crypto in their daily lives. We want to help people learn alternative ways to grow their wealth, gain real financial freedom, and build cross-generational wealth through crypto. We found a great partner to do this with the Mavs and their owner, Mark Cubanwho is already deeply involved in the room. ”

About Voyager Digital Ltd.
Voyager Digital Ltd. (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) is a fast growing, publicly traded cryptocurrency platform in The United States was founded in 2018 to provide the market with choice, transparency and cost efficiency. Voyager offers a secure way to trade over 60 different crypto assets with its user-friendly mobile application and earn rewards of up to 12 percent annually for more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the world. To learn more about the company, please visit https://www.investvoyager.com.

About the Dallas Mavericks
The Dallas Mavericks are a premier global sports and entertainment organization that delivers unforgettable experiences to fans around the world. The Mavs compete as a member of the Western Conference in the National Basketball Association and play at the American Airlines Center under the direction of Coach Jason Kidd, Chief Executive Officer Nico Harrison, CEO Formerly Marshall and governor Mark Cuban. Since the inaugural 1980-81 season, the Mavs have won four division titles, two conference championships, and one NBA championship in 2011 North Texas through community programs and the Mavs Foundation. For more information on the Dallas Mavericks players, staff, stats and tickets, visit mavs.com.

The TSX has neither approved nor disapproved of the information contained herein.

Press contacts

Voyager Digital Ltd.
Michael Legg
Chief Communications Officer
(212) 547-8807
[email protected]

Voyager PR team
[email protected]

Dallas Mavericks
Erin Feingold White
SVP, corporate communications
(214) 415-9183
[email protected]

SOURCE Voyager Digital (Canada) GmbH.

similar links

https://www.investvoyager.com/

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How Ethereum Steadily Holds Their Second Place For Years

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In the past few years, Ethereum has been one of the most stable coins on the market. From December 2016 to December 2017, less than a year, the value of Ethereum rose from around $ 8 to over $ 1,000. However, this sudden surge is not because it is a new coin that no one knows about; Rather, its popularity is based on how easy it is to program smart contracts on its blockchain. The system was developed by Vitalik Buterin, who viewed Bitcoin as an inefficient and expensive solution for payments and wanted something better.

Ethereum has been the second most stable coin for years. It wasn’t until early 2017 that XRP (Ripple) briefly overtook Ethereum to take its place before coming back, but it hasn’t left second place since then. It is currently valued at around $ 4,200 per coin and has a market cap of over $ 400 billion.

The reason it was built in the first place

Vitalik Buterin, a Russian-born Canadian programmer, founded Ethereum to create a platform where smart contracts can be easily created and executed by anyone in the world. His idea was to use a programming language that programmers would be familiar with and make programming easier for them. He also wanted to add other features like Turing completeness (the ability to execute an infinite number of commands depending on the length of the contract) and ensure that programmers don’t have access to each other’s information.

The Ethereum network allows developers to create decentralized applications called “dapps”.

Dapps is a decentralized version of an application. With traditional applications, all information is stored on a central computer and can be accessed by users from their computers.

In decentralized applications, all information is decentralized and each user can make their own copy of the application, which is updated as new information comes in. This means that if a developer creates a decentralized version of Twitter, every time a tweet is posted, all users who have downloaded the application will be updated accordingly.

Dapps can be used for a variety of purposes such as gambling, social media platforms, or even financial services.

It is also possible to create a new type of token with an Erc-20 standard on Ethereum

ERC-20 is a set of rules that all Ethereum tokens must follow in order to be compatible with each other. This enables developers to create new tokens on the same blockchain without having to recreate many of the functionalities already present in Ether.

Ethereum also has its Solidity programming language. This makes Ethereum more flexible than other cryptocurrencies due to its Turing completeness (ability to execute an infinite number of commands depending on the length of the contract).

This standard has led to the creation of ICOs (Initial Coin Offerings) that help startups raise funds for their projects. ICOs are a way to fund new cryptocurrencies through crowdfunding by allowing anyone to buy tokens offered by the company. This allows users to use these tokens within certain platforms or services, creating demand when more people are using them and adding value when they are more difficult to acquire.

How Ethereum is used in some industries

The betting industry is one of the industries that can benefit the most from Ethereum’s blockchain. This is because betting involves a lot of different steps that must be carried out quickly and efficiently. All of these actions (checking that users have enough money, executing commands, upgrading game credits, etc.) require some sort of verification process that must be performed from an external computer.

With Ethereum, all the actions that a betting company has to carry out can be programmed into a smart contract that does not require any verification by external computers and also does not have to be limited to a sequence of commands. This means betting companies no longer have to pay anyone to monitor their betting platform, and it also enables better transparency and betting in a trusted environment.

More and more betting platforms are using Ethereum as a payment method. The value of the coin and its submerged market capitalization are good reasons for the betting platform to use this currency just like Bitcoin. Soon we will see unbreakable relationships from Ethereum betting sites.

The recipe behind the steady success of Ethereum

One of the reasons for the steady growth of the aether is its simplicity. Ethereum’s blockchain can be compared to a web browser. Each user has their own copy of the entire blockchain to access Dapps and use them at any time.

When a user updates the Ethereum blockchain, their copy is also updated and automatically synced with all copies of all other users. This means that any new information added to a Dapp is instantly updated on every single copy of the blockchain.

This created a network in which each user can create their own “server” or “node”. As more users can connect to the network, it also becomes more difficult to shut down or destroy.

Ethereum has become one of the few coins that has a resilient value on the market. Even if the price goes down, it still has a high market cap, which makes it one of the most valuable coins around.

Another reason that makes Ethereum so versatile is that anyone can create their own coin on the Ethereum blockchain. Instead of creating an alternative coin or a new protocol, it’s easier to build new dapps on Ethereum, which also increases the demand and price.

This has created one of the largest industries in the world that anyone can invest in without having to go to middlemen.

The future of Ethereum

Ethereum has been one of the most stable coins on the market for years. Ethereum was developed by Vitalik Buterin, who viewed Bitcoin as an inefficient and expensive solution for payments and wanted something better. The system enables developers to create decentralized applications called “dapps” that can be used for various purposes such as gambling or social media platforms. It is also possible to create a new type of token with an ERC-20 standard on Ethereum, which has become popular with other cryptocurrencies and ICOs. In 2016 there were over 1 million active addresses of users who participated in transactions on the blockchain, which shows how this technology will continue to grow in the future.

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Cryptocurrency

Miami-Dade County Cryptocurrency Task Force and American CryptoFed DAO Thank Wyoming’s Cryptocurrency and Blockchain Leaders for Educational Discussions

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Released: Oct 26, 2021 at 6:00 p.m. HST|Updated: 2 hours ago

CHEYENNE, Wy., Oct 26, 2021 / PRNewswire / – The Miami-Dade County Board of County Commissioners’ adoption of Resolution R-455-21 provides for the creation of a Cryptocurrency Task Force to review the feasibility of Miami-Dade County Accepting cryptocurrency and other forms of digital money as acceptable methods of payment for the county’s taxes, fees, and services, and making recommendations for other cryptocurrency policy initiatives that would be beneficial to Miami-Dade County. In order to accomplish the mission, as required by the same Resolution R-455-21, to review and analyze the efforts of other local, state, or national governments regarding cryptocurrencies, Chairman of the Miami-Dade Cryptocurrency Task Force, Elijah John Bowdre, has accepted an invitation from Marian Orr, CEO of the American CryptoFed DAO and the first DAO established under the Wyoming DAO law, visits Cheyenne and Laramie, Wyoming between 20.-22. October for educational talks with Wyomings Lawmakers, regulators, and thought leaders for the state’s successful cryptocurrency and blockchain initiatives.

Miami-Dade County

“Words cannot express how grateful I am for the educational discussions we have had and insights from leaders, including:

  • State Senators Chris Rothfuss, & Tara Nethercott
  • State Representative Ocean Andrew
  • Deputy State Secretary Karen Wheeler
  • Landesbank officer, Albert Forkner, Wyoming Division of Banking
  • Brenda Henson, Director of Wyomings Department of Revenue & Terri Lucero, Administrator of the Excise Department
  • Steven Lupien, Director of University of Wyoming Center for blockchain and digital innovation
  • Ashley Harpstreith, Executive Director of the Wyoming Taxpayers Association
  • Matt Kaufmann, Partner at Hathaway and Kunz, LLP.

Together, these innovative minds gave me deep insights into the Wyomings Success in creating and applying cryptocurrency and blockchain laws and regulations that today affect states and nations far beyond their borders Wyomings geographical boundaries. As chairman of the Miami-Dade County’s Cryptocurrency Task Force, my meetings with these leaders have provided me with comprehensive and practical guidance to provide a framework for discussing policy recommendations for. to accomplish Miami-Dade County with my colleagues. I am now planning to invite a delegation from Wyomings Cryptocurrency and Blockchain Guide to meet my Task Force colleagues at our home Miami-Dade County, and investigate the possibility of collaboration between Wyoming and Miami dade. This will likely extend to all of them Florida“, called Elijah John Bowdre, Chairman of the Miami-Dade County’s Cryptocurrency Task Force.

“I am so happy that Chairman Bowdre was able to meet with our state’s lawmakers and regulators and see how and why” Wyoming Laws, regulations and creative spirits have led to this Wyoming to become the leading blockchain and cryptocurrency jurisdiction, not just in the United States of America, but also in the world. It was a great honor to meet and introduce Chairman Bowdre to him Wyomings Cryptocurrency and blockchain lawmakers, regulators and thought leaders and for a coordinated path between Wyoming and Miami dade for future prosperity. Chairman Bowdre and his task force have an unprecedented and challenging mission, the feasibility of. to investigate Miami-Dade County Accepting cryptocurrency and other forms of digital money as an acceptable method of payment for the county’s taxes, fees, and services. As a former mayor of Cheyenne, Wyoming, I fully understand that it is vital for local governments to create new sources of income and provide better services to their citizens without increasing the tax burden on the city’s residents or businesses. I am very grateful for that Wyomings Executives who made Chairman Bowdre’s visit so successful that further collaboration and collaboration between Wyoming, Miami-Dade County and Florida just starting. “said Marian Orr, CEO of the American CryptoFed DAO.

Learn more about the Miami-Dade County’s Cryptocurrency Task Force:
https://www.miamidade.gov/govaction/legistarfiles/Matters/Y2021/210817.pdf
https://www.miamidade.gov/govaction/legistarfiles/Matters/Y2021/211528.pdf

Learn more about the American CryptoFed DAO:
https://www.americancryptofed.org/

(PRNewsfoto / American CryptoFed DAO)(PRNewsfoto / American CryptoFed DAO)

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SOURCE American CryptoFed DAO

The above press release is courtesy of PRNewswire. The views, opinions, and statements contained in the press release are not endorsed by, nor do they necessarily reflect those of Gray Media Group, Inc.

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