BlockFi, a popular cryptocurrency lending platform, informed its customers on Tuesday that it had a “temporary” data breach, putting some client’s data at risk. The breach happened on May 14 and, according to the exchange, the breach lasted for over an hour before the root cause of the unauthorized intrusion was found and it was stopped. The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation The platform also stressed that no critical customer data including funds...

The Banque de France along with Societe Generale, an investment banking giant, has completed the first successful trial of a central bank digital currency (CBDC). The investment bank directly registered €40 million (around $44 million) of covered bonds as security tokens on a public blockchain on May 14 and the payment settlement was made in French central bank-issued digital euro. In April 2019, Societe Generale also issued €100 million (around $100 million) worth security tokens, but then...

Chainalysis, a blockchain analyzer firm, has squashed many major terror funding allegations using cryptocurrencies, including the recently revealed possibility of ISIS having a $300 million Bitcoin war chest. In a “fact-checking” report published on Wednesday, the New York-headquartered company pointed out that the media sensationalized such terror-funding related allegations involving Bitcoins and other cryptocurrencies. Earlier this week, the director of a terrorism-related think tank...

A group of top Chinese government advisors has submitted a proposal for a regional digital currency backed by four fiats – Chinese yuan, Hong Kong dollar, Japanese yen, and Korean won. The proposal was made by Neil Shen, founding and managing partner of Sequoia China and a member of China’s upper house, and co-signed by nine other advisors who are also the members of the upper house. The purpose of the digital currency is to facilitate trade finances between the countries amid the economic...

Canaan Creative, the second largest Bitcoin miner manufacturer, has reported a net loss of $5.6 million for the first quarter of 2020 with the falling demand for its devices. According to the unaudited report published on Friday, the company reported total revenue of $9.4 million for the quarter – 44.6 percent increase in the figures posted for the same quarter a year before. The dent on the books of the company also involved $9.3 million and $5.9 million in expenses in the cost of goods sold...