OKCoin Refutes Investing Client Funds Into “Wealth Management Products” Claims OtherCoins

OKCoin Refutes Investing Client Funds Into “Wealth Management Products” Claims

One of China’s biggest digital currency exchanges has refuted claims it used clients’ funds to invest in financial products deemed risky. According to state newswire Xinhua in an August 17 report, both Huobi and OKCoin exchanges reportedly invested around 1 billion yuan ($150 million) of idle client funds into “wealth-management products” citing an investigation by the People’s Bank of China. These products in China are often considered high-yielding and risky as they are said to build blocks of a shadow-banking system that exists largely off banks’ balance sheets. Their off-balance value rose 30% in 2016 to exceed 26 trillion yuan...
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Mobile Wallet Bitkan Launches Bitcoin Cash OTC Trading Service OtherCoins

Mobile Wallet Bitkan Launches Bitcoin Cash OTC Trading Service

Bitcoin-focused data and trading services provider Bitkan has officially announced the launch of BCC OTC trade. The new OTC service allows Bitkan app users to trade BCC outside the online exchanges at competitive prices. When BCC appeared earlier this month, founder of ViaBTC Yang Haibo stated that they were not going to give BCC a Chinese name and a logo. This was used to confirm a conspiracy theory that BCC is trying to steal the brand of BTC. In the Chinese community, some call the new coin Bitmain Coin and some a fake forked coin. Foreign bitcoin holders also have...
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Shanghai Closes All Token Trading and Executives Are Asked to Stay in Place OtherCoins

Shanghai Closes All Token Trading and Executives Are Asked to Stay in Place

Cryptocurrency exchanges in Shanghai this week are asked to close all token trading services, including BTC/CNY, ETH/CNY and other trading pairs. The latest move means that bitcoin trades on secondary markets are excluded from exchanges in Shanghai. Beijing regulatory authorities haven’t released any notice on closing cryptocurrency trading pairs. OK and Huobi on Sept 15 announced that they would only suspend CNY-related businesses and other services are not affected. But on the very next day, they revised the notice saying they are to stop all cryptocurrency trading. How long will the condition persist? On Sept 22, vice president of the...
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Ant Financial: 3 Dos and 3 Dont’s in Blockchain Development OtherCoins

Ant Financial: 3 Dos and 3 Dont’s in Blockchain Development

8 July Shanghai– “The 5th Financial Technology Summit” was held in Shanghai on July 7-8, 2018. Jiang Guofei, VP of Ant Financial, delivered a speech and explained the attitude of Ant Financial on blockchain development. He mentioned “3 dos and 3 don’ts”. Jiang Guofei: Hello, everyone, thank you very much for organizing the discussion on the value of the blockchain. Since the beginning of this year, blockchain has been very hot topic in the industry. One engineer in our team tagged himself as “blockchain engineer” on the dating website and received many girls’ love letters. This is a side note...
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Slowmist: 3,619 ETH-based tokens are affected by fake deposit vulnerability OtherCoins

Slowmist: 3,619 ETH-based tokens are affected by fake deposit vulnerability

On 11 July, Slowmist disclose full detail of “fake deposit” vulnerability as they promised. Several days ago, they disclosed similar case for USDT based on omni protocol. According to incomplete summary, 3,619 token contracts based on ERC-20 are affected and some of them are well-known tokens. Migration to new contract is advised for these tokens or exchanges may suffer loss. The “fake deposit” vulnerability of Ethereum-based token has a very wide impact, including at least: related centralized exchanges, centralized wallets, token contracts, etc. There are 3,619 contracts involved as per incomplete summary. As there are many well-known tokens, a self-review...
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What Does the Chinese Community Think of Bitcoin Cash(BCC)? OtherCoins

What Does the Chinese Community Think of Bitcoin Cash(BCC)?

Update: It seems inaccurate to call BCC futures as users already exchange it for cash on ViaBTC, so I will stop trying to define it. As the hard fork risks are getting lower when BIP91 gets locked in, ViaBTC abruptly announced on July 22 to support Bitcoin Cash(BCC), a “split” coin of a potential hard fork. After the announcement, Chinese bitcoiners in all of the WeChat groups are asking the same questions: what the hell is BCC? is there going to be a chain split? who is behind it, Bitmain? is it free money or a scam? In this series, we will...
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Top 20 Richest Celebrity Supporters of Cryptocurrency OtherCoins

Top 20 Richest Celebrity Supporters of Cryptocurrency

Infographic made by Tom Alford Whilst cryptocurrency might not be everyone’s cup of tea (some economists and traditional investors labelling it a ponzi scheme), there can be no doubt that it’s here to stay, and some phenomenally famous names have become deeply involved in this booming industry. We decided to put together a list of the top 20 Richest & most famous celebrities supporting cryptocurrency, along with their involvement, however big or small.
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The Cryptocurrency Market Is Now All About Speculation and a Game of Money OtherCoins

The Cryptocurrency Market Is Now All About Speculation and a Game of Money

Note: The article was written by Duan Hongbin, a financial consultant and columnist. He has books like A Stepping Stone to Success Investment to help people learn more about investment. Here is his wechat account: laoduandeguandian. Remember, this is the translation, so if you get upset or feel offended when reading it, it has nothing to do with Cindy. I started investing in bitcoin in 2011 and altcoins in 2013. But now I am writing to talk my readers out of investing any cryptocurrencies. Seriously, don’t buy any cryptocurrencies. Just ask yourself this question: Can they do any good to...
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Will Bitcoin Cash Be a Litecoin Killer? OtherCoins

Will Bitcoin Cash Be a Litecoin Killer?

Update: Charlie Lee talks about Litecoin on CNBC and he doesn’t see Bitcoin Cash as a threat. The price of Litecoin has been gaining momentum over the past few months with the activation of Segwit, or as some say, “survived bloodbath”. As Bitcoin is in a crucial stage and Ethereum is losing ground, Litecoin advocates believe that it’s time for Litecoin to shine. And some enthusiasts interpreted random numbers Charlie posted as price predictions, saying bitcoin and litecoin will go up to $3000 and $60 respectively in two weeks. Little did they know that a new cryptocurrency is about to...
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Bitcoin Bubble Blasts: It’s Only a Matter of Time OtherCoins

Bitcoin Bubble Blasts: It’s Only a Matter of Time

Note: Yi Kelun, president of Corporate Strategy Institute of Anshan city, Anhui province of China, talks about the difference between virtual economy and false economy. Virtual economy is operated on the basis of real economy. A stone can be as precious as a pearl if Taylor Swift writes a song about it hailing there is something special about it. Let’s start with a story. Long long ago, in a small, isolated village Utopia, there was a poor boy named Peter. One day, when lying on the grass, Peter smelled something so sweet and so swooning. He followed the smell and happened to...
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