Weekly Highlights: Crypto News

👋Wave goodbye to the business week!👋

Another portion of news from us and the world of crypto is here, enjoy!

What’s new on WhiteBIT?

⭐️INRToken listed!

• INRT is joining our exchange!
• Launched in 2020, INRT is a blockchain-enabled platform designed to facilitate the use of fiat currencies digitally.
• INRToken Platform currencies are 100% backed by INR Reserves.
• INRTokens exist as digital tokens built on Tron blockchains.
• INRT is paired against BTC. USDT pair is coming soon. Have fun trading!

💣DigitalNote listed!

• DigitalNote (XDN) is a crypto-based on the PoW/PoS hybrid and VRX v3.0 technology, making the network extra resistant to 51% attacks.
• DigitalNote includes mobile-friendly functionality and has a fixed supply of 10,000,000,000 XDN.
• XDN bounty on WinPlay, 2 new SMART Staking plans as well as an AMA session are on the way!
• XDN is paired against BTC, with USD and USDT pairs coming soon.
• Trade XDN and enjoy a 50% off trading fee for 2 weeks!

💵$200 in XDN for the best questions in the AMA session!

• We are happy to announce the launch of our partnership with DigitalNote (XDN)!
• Are you curious? Now you have a chance to Ask Us Anything about it — and win some XDN for your questions.
• On Tuesday, August 11th, (8:00 a.m. UTC), we’ll be holding a joint AMA session in WhiteBIT Telegram chat.
• Fill in this form to submit your questions!

🖥The homepage of our exchange is updated!

• Here at WhiteBIT, we think changes are important, that’s why we’ve designed a new homepage!
• It’s more user-friendly, stylish, and easier to navigate around.
• You can return to the banner you’re interested in at any time by clicking on its title.
• There’s also a new table with the info about Gainers, Losers & 24H Volume Top.
• All the main tools and links are now listed as separate blocks.
• Take a look at our new homepage and give us your feedback!

What’s new in the world of crypto?

🗓Ethereum Classic Suffers Second 51% Attack in a Week

• Ethereum Classic has suffered its second 51% attack in a week after more than 4,000 blocks were reorganized Thursday morning.
• Mining pool Ethermine’s parent entity Bitfly and crypto exchange Binance reported the reorganization, announcing all Ethereum Classic payouts, withdrawals and deposits had been suspended due to the attack.
• The reorganized transaction history is currently the longest chain on the network.
• Developers behind Ethereum Classic said in a tweet minutes before Bitfly’s report that exchanges and mining pools are advised to “significantly raise confirmation times on all deposits and incoming transactions” in light of “recent network attacks.”
• A chain reorg occurs when a party gains more hashing power than the rest of the network miners.
• Hashing power on Ethereum Classic looks to have decreased considerably since Monday, August 3 dropping nearly 20% from 1.6 TH/s to 1.3 TH/s as of press time.

📊Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%

• A proposal made by the government of Kazakhstan aims to impose a 15% flat-rate tax on crypto mining.
• The plan would use any funds accumulated through the tax to deal with the COVID-19 crisis in the country.
• According to Forbes, the Ministry of the Economy hopes to combat COVID-19 by funding countermeasures through the collection of such taxes.
• Officials stated that approximately 6% of the world’s Bitcoin (BTC) hash rate comes from Kazakhstan.
• The report adds that the government is looking to regulate crypto mining activities in accordance with new electricity tariff rules, which were recently imposed in the country.

📸Ransomware Gang Steals 10TB of Pics and Data From Canon

• Multinational corporation Canon reportedly fell victim to a ransomware attack launched by Maze group against its email and storage services and its United States website on July 30.
• Maze has threatened to leak the pics and data if a crypto ransom is not paid.
• The image.canon site was out for six days, during which it showed updates. It went back into service on Aug. 4.
• Canon put out a statement that day about the attack, saying there had been no leak of image data, nor thumbnails of the photos stored in its cloud service.
• However, the severity of the attack was confirmed on Aug. 5 by BleepingComputer, which said the ransomware gang claimed it had managed to steal almost 10 TB of photos, files, and other data.
• Unusually, Maze said its attack had not caused the six-day outage.

💳Goldman Sachs Eyes Own Token as Bank Appoints New Head of Digital Assets

• Goldman Sachs is seriously considering its own cryptocurrency, possibly a stablecoin, as it significantly expands its digital assets team and appoints a new head to spearhead efforts.
• Matthew McDermott, Goldman’s new digital asset global head, confirmed the U.S. investment bank was exploring whether to launch its own digital asset, CNBC reported Thursday.
• “We are exploring the commercial viability of creating our own fiat digital token, but it’s early days as we continue to work through the potential use cases,” he said.
• In a post for a month, McDermott’s first key hire was Oli Harris as head of strategy; Harris was instrumental in JP Morgan’s blockchain, Quroum, as well as its settlement coin, JPMCoin.
• McDermott is already looking at how blockchain can make savings in the inefficient repurchase or “repo” market used by banks to lend money to one another, as well as credit and mortgage markets.
• He also said Goldman might consider collaborating with its rival JPM, as well as Facebook, on future digital asset initiatives.

Stay tuned for more news!

WhiteBIT Team