Category: cryptocurrency

Satoshi Nakamoto, is that you? Bitcoin mined in 2009 moves for the first time


A chunk of Bitcoin has just moved for the first time since it was mined way back in 2009, causing some to speculate that Satoshi Nakamoto has returned. The shift was detected by Twitter-based blockchain monitor @whale_alert, which confirmed that the 40 BTC featured in the transaction were mined in the first month of Bitcoin‘s existence. 👤👤👤 40 #BTC (391,055 USD) transferred from possible #Satoshi owned wallet (dormant since 2009) to unknown wallet ℹ️ The coins in this transaction were mined in the first month of Bitcoin’s existence. Tx: https://t.co/hxDJGGtfF0 — Whale Alert (@whale_alert) May 20, 2020 Back then, the…

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The Bitcoin Halving is imminent — here’s why it happens every 4 years


Bitcoin is nearing one of its most important milestones: The Halving (or Halvening), an automated event that cuts the monetary reward for mining BTC by 50%. Depending on who you believe, Halvings either cause Bitcoin‘s price to skyrocket, its hash rate to crash, or simply exist as a relatively boring exercise in economic theory. [Read: Gambling on Bitcoin with Trump’s $1,200 corona check was a good bet] Rather than debate whether the market has already “priced in” the next Halving (which should happen sometime early on 12 May 2020), let’s explore why Bitcoin‘s mysteriously absent creator decided Halvings should occur at all. Bitcoin…

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Travelex paid $2.3M in Bitcoin to get its systems back from hackers


Travelex paid hackers $2.3 million worth of Bitcoin to regain access to its computer systems after a devastating ransomware attack on New Year’s Eve, reports the Wall Street Journal. The London-based company said it decided to pay the 285 BTC based on the advice of experts, and had kept regulators and partners in the loop throughout the recovery process. Although Travelex, which manages the world’s largest chain of money exchange shops and kiosks, did confirm the ransomware attack when it happened, it hadn’t yet disclosed a Bitcoin ransom had been paid to restore its systems. Travelex previously blamed the attack on…

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Amazon opens 100K new jobs to keep up with coronavirus demand


Amazon is raising wages and opening 100,000 new positions across the US to ensure its delivery network can withstand the coronavirus pandemic. A press release notes both full-time and part-time positions will be made available to meet unprecedented seasonal labor needs in its fulfilment centers “Getting a priority item to your doorstep is vital as communities practice social-distancing, particularly for the elderly and others with underlying health issues,” said Amazon. The ecommerce giant also pledged over $350 million to raising wages by $2 per hour in the US, £2 per hour in the UK, and “approximately” €2 per hour in many…

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France fines Apple a record $1.2B for fixing prices with suppliers


France has fined technology giant Apple a record 1.1 billion euros ($1.2 billion) for making agreements with suppliers that made it more difficult for independent resellers to compete. “Apple and its two wholesalers agreed to not compete against each other and prevent resellers from promoting competition between each other, thus sterilizing the wholesale market for Apple products,” said Isabelle de Silva, the head of France‘s competition authority in a statement on Monday (via Bloomberg.) [Read: Apple takes WWDC 2020 online over coronavirus fears] The two wholesalers in question, Ingram Micro and Tech Data, were also fined 62.9 million euros ($70.4 million)…

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Microsoft could lose its $10B US gov ‘war cloud’ contract to Amazon


The US Defense Department will reconsider its awarding of a $10 billion cloud computing contract to Microsoft over Amazon, following claims president Trump had potentially interfered with the selection process, New York Times reports. Dubbed the Joint Enterprise Defense Infrastruture (JEDI), the contract sees its awardee build and maintain the US government’s “war cloud,” handling the processing and storing large amounts of classified war-related data. It also includes an artificial intelligence system to assist with war planning. [Read: Amazon confirms a Seattle-based employee has contracted coronavirus] Amazon’s lawyers argue the White House had swayed Pentagon officials into awarding JEDI to Microsoft…

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US looks to block Huawei from banks after Trump ban fails


US lawmakers are readying to block Chinese smartphone maker Huawei from using local banks for certain transactions, Reuters reports. The bill reportedly seeks to ban US banks from processing “significant” transactions for overseas firms both working on 5G tech and engaging in industrial espionage. The US government has previously accused Huawei of bank fraud and stealing trade secrets. [READ: US accuses Huawei of stealing trade secrets and racketeering] “It is time for the Trump administration to take swift and forceful action to block Huawei from accessing the U.S. financial system,” said senate democrat Charles Schumer, who Reuters notes has sponsored the bill…

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Yep, T-Mobile and Sprint’s $26.5 billion mega-merger is really happening


California won’t try to stop a $26.5 billion mega-merger between telecoms giant T-Mobile and the struggling Sprint, CNET reports. A US District Court approved the deal last month, which sees the third and fourth largest telecoms providers in the US become one. This is expected to swell T-Mobile‘s subscriber base to 140 million, helping it compete with AT&T and Verizon. The decision not to appeal the court’s ruling comes by way of a settlement between California and T-Mobile, with the latter agreeing to protect low-income consumers and the jobs of local Sprint workers. [Read: Sprint stocks up 75% after judge approves $26.5…

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Robinhood: $200M loan during Wall Street crash unrelated to downtime


Popular trading app Robinhood recently maxed out a major credit line in response to suffering multiple system-wide outages, Bloomberg reports. The Menlo Park startup withdrew its entire $200 million credit facility with prominent banks JP Morgan Chase, Barclays, and Citibank during the week of February 24, the outlet’s sources said. A spokesperson told reporters that Robinhood had already repaid the borrowed money, and noted the company has “additional larger credit lines” that it didn’t use at all last week. [Read: Robinhood users are gravitating towards loss-making companies] However, the firm denied the loans were related to its system failures, telling Bloomberg: “Our capital position remains…

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Every single tech stock in the S&P 500 index got rekt on Monday


The five most valuable tech companies lost a combined $321.6 billion from their market caps on Monday — the worst day for US stocks since the 2008 financial crisis, CNBC reports. In fact, not a single tech stock featured in the S&P 500 finished the day in the green. Apple lost the most of the top five, down 7.9%. Amazon’s share price dropped by 5.3%, while Alphabet, Facebook, and Microsoft fell by more than 6%. The Elon Musk-led Tesla, a major tech stock not included in the S&P 500 index, took a veritable beating by losing 14%. Data storage device manufacturer Western Digital…

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