Crypto Highlights

Our highlights are not weekly anymore! From now on we’re posting the most important news from us & the world of crypto on a bi-weekly basis. Enjoy!

What’s new on WhiteBIT?

📢AXEL listed!

• We are happy to welcome AXEL to our exchange!
• AXEL is a token launched by AXEL.Network, a free decentralized platform for instant and extra secure file distribution.
• With AXEL, buyers and sellers of digital assets can interact in a safe space based on P2P technologies for distributed content sharing.
• This green utility token uses a Proof of Stake hashing algorithm.
• AXEL is paired against BTC

🎉Phantom listed!

• PHTF is joining our exchange!
• Phantom (PHTF) is the token created by the world’s largest DeFi apps development platform.
• DPoS consensus algorithm ensures fair and open community voting, granting every supporter the voting right and thus keeping the network decentralized.
• PHTF is paired against USDT.

🔥Shardus listed!

• Excellent news! ULT has been listed on WhiteBIT!
• ULT is a token by Shardus that tackles blockchain scalability issues through its innovative software while maintaining high-level security and decentralization.
• The key purpose of ULT is to encourage the development of Shardus software, so the token can be used for its licensing.
• ULT is ERC-20 compliant and has a fixed supply of one billion units.
• ULT is paired against ETH, with USDT and BTC pairs coming soon.

❗️WAVES & SON Deposits And Withdrawals Are CLOSED

• Deposits and withdrawals of WAVES and SON will be closed on the 24th of August due to a large-scale update in the Waves network.
• Sorry for the inconvenience caused. We will inform you as soon as the update is completed.

💬 Transcript of the AMA with DigitalNote (XDN)

• We conducted a joint Telegram AMA on Wednesday, August 12, and it went great!
• The session featured 15 most interesting questions from our users.
• They were answered by Andrew Kovalenko, the Head of Project Relations at WhiteBIT, and the representatives of the XDN team, known as Crypto Coderz and AuCRHI.
• See the transcript of the Q&A provided here.

What’s new in the world of crypto?

💰$50 Billion in Cryptocurrency Left China Amid Escalating Trade Wars

• Over $50 billion in cryptocurrency flowed out of China over the past 12 months amid trade wars, a new study finds.
• Most of the cryptocurrency outflow was from China, Chainalysis added, noting that the Chinese government only allows citizens to move an equivalent of $50,000 at the most out of the country each year.
• East Asia is the world’s largest cryptocurrency market; its crypto trading volume is driven by “a robust professional market” as well as an “extremely active” retail market.
• Relations between the U.S. and China have deteriorated to all-time lows in recent weeks as the two countries spar over issues such as the Covid-19 pandemic, Hong Kong, and Xinjiang.
• Roughly 90% of all crypto volume transferred from the region in any given month is “professional-sized,” meaning transactions are worth more than $10,000, the firm continued.

🏦IMF calls crypto “special currency” and educates the public

• The International Monetary Fund (IMF) had recently published a video explaining what cryptocurrency is.
• Besides suggesting that cryptocurrency could “completely change the way we sell, buy, save, invest, and pay our bills,” IMF went on by saying that it “could be the next step in the evolution of money.”
• The IMF tweeted the video giving vital details on what cryptocurrency is. Referring to cryptocurrency as “a special currency,” the two-minute video attempts to outline its benefits in payments, such as by removing middlemen, lowering costs, and increasing transaction speed.
• It also warned about sees as risks, such as anonymity and volatility.

⚡️Brazil’s central bank examines the benefits of a CBDC

• The Central bank of Brazil — or Banco Central do Brazil — is laying the groundwork for a Central Bank Digital Currency (CBDC) with an official statement revealing it has already formed a dedicated group to study the crypto industry.
• According to the central bank, the team consists of 12 members in an intergovernmental group that will assess how the CBDC could fit with the national payments ecosystem and what its impact could be on the economy and the society.
• Previous reports detailed that Brazil spends around 90 billion reals ($16 billion) annually to guarantee a functional supply of paper money in circulation, representing between 1% and 2% of its GDP.
• The central bank says that the new group will examine how much money will be saved by issuing CBDCs and if it will be beneficial overall for the national economy.

💻Lazarus is attacking the crypto industry via LinkedIn, warns F-Secure

• Lazarus, a group of hackers who are allegedly backed by North Korea, is now reportedly attacking crypto and blockchain talent through a major professional social network, LinkedIn.
• According to a report by the Finnish cybersecurity and privacy firm, F-Secure, the latest Lazarus attack was made through a crypto-related job advert on the site.
• Their investigation indicated that an individual working in the Blockchain space received a phishing message that mimicked a legitimate Blockchain job listing.
• F-Secure found that the document shares the same names, authors, and word count elements as publicly available code from major internet security website, VirusTotal.
• In the report, F-Secure outlined that the Lazarus group’s interests reportedly align with those of the government of the Democratic People’s Republic of Korea or DPRK.
• The Lazarus group is well known for multiple attacks on the crypto industry. Earlier this year, the hacker group reportedly deployed a series of new viruses to steal crypto from Mac and Windows users.

Stay tuned for more news!

WhiteBIT Team