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Binance Thinks Funds Are ‘SAFU’ Following Amazon Web Services Withdrawal Error

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The head of the cryptocurrency exchange Binance, Changpeng Zhao, is in the latest cryptocurrency news following a recent statement by the exchange. It seems like right now, Binance thinks that the funds are ‘not at risk’ after a reported technical error started affecting its withdrawals.

The CEO Changpeng Zhao (known as CZ) spoke about the entire situation and how it was resolved on August 23, while the funds security was not compromised. He wrote on Twitter stating that “Funds are #safu” employing a well-known catchphrase that he had previously created while confirming that there was no danger to the cryptocurrency holdings.

Featured in the coming altcoin news, CZ explained that Binance thinks funds are safe right now. He centered on Amazon Web Services (AWS) too, stating that the problems with caching were what produced the error messages for a portion of the Binance traders. The withdrawals were also impacted as he noted.

“AWS is having an issue, mostly with caching services, affecting some users globally. We are working with them and monitoring the situation closely,” CZ wrote, adding:

“It’s causing some 500 error messages on APIs and affecting some withdrawal processing.”

Binance thinks funds are safe – but it just recovered from a publicity scarce which involved a self-proclaimed hacker alleging that he had access to the users Know Your Customer (KYC) data. The alleged data leak made Binance very insecure and many best cryptocurrency news sites also talked about the previous hack which was funds worth $41 million leaving the platform due to a security issue.

All of this sparked a weeklong maintenance shutdown and payouts to the affected users. However, Binance thinks that it is in a good place now – right after it announced that it is working on a new cryptocurrency project named Venus. As the altcoin news showed, Venus is going to rival Facebook and its controversial Libra coin.

Meanwhile, the market has stabilized from the yesterday drop and is at a combined total value of $265 billion at press time. Bitcoin is trading at $10,160 and most of the altcoins are recording gains of 1% to 2%. Bitcoin’s dominance is still strong, standing at 68.4%.

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BitMEX CEO Arthur Hayes: ‘Traditional Traders Are Under Pressure’

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The BitMEX CEO Arthur Hayes, who has always been a topic in the latest cryptocurrency news, is now with a new statement where he points out to traditional traders. As Hayes summed up, traders may lose lunch breaks and weekends as digital finance is going to change everything - including workplaces. Hayes was featured in a Septemebr 19 article on Bloomberg which was featured on many best cryptocurrency news sites. In it, he noted that cryptocurrencies trade 24 hours a day and 7 days a week. He also summed up that this will end up affecting “everything from traditional equities, bonds and currency trading, to the way payments are processed and recorded.” The BitMEX CEO Arthur Hayes also made his remarks at the Milken Institute Asia Summit held in Singapore. He added that “traders may even lose their lunch breaks and weekends as traditional assets absorb some characteristics of digital ones" and fully backed up this statement by saying:
“Some of the practices in our market are going to be mimicked in traditional trading [...] All these things about being somewhere and trading something and physically reconciling records is all going to go out the window. Once you get away from that and understand that everything will be digital in the next 10 years, you realize that Bitcoin isn’t such a strange idea.”
It remains to be seen how labor organizations which were crucial in the adoption of weekends, the 40-hour workweek and mandatory break - will respond to the claims of the BitMEX CEO Arthur Hayes and especially if his prediction passes. On September 18 and before this, the CEO of BitMEX was in the news for predicting that Bitcoin (BTC) could soon shoot to $20,000 as a result of emergency measures from the United States Federal Reserve. The comments by Hayes came right after the Federal Reserve swooped in and decided to decrease interest rates on some loans which reached more than 10% or four times its target. More than $53 billion was pumped in the economy through the quantitative easing (QE) measures.
“QE4eva is coming. Once the Fed gets religion again, get ready for #bitcoin $20,000,” the BitMEX CEO Arthur Hayes tweeted back then.
The latest Bitcoin and altcoin news show a new correction on the market. The total market cap is now at $267 billion and Bitcoin is again below $10,100.
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Altcoin News

Upbit Exchange Delists Privacy Coins Including Monero, Dash and Others

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The major exchange from South Korea is in the latest Bitcoin and altcoin news for becoming the latest one to delist privacy oriented coins. The Upbit exchange decided to follow the moves of Coinbase this month and delisted a slew of privacy coins based on the recent regulatory requirements from the international body - the Financial Action Task Force (FATF). As the notice from the South Korea exchange officially showed, the transaction support for Monero (XMR), Dash (DASH), Zcash (ZEC), Haven (XHV), Bittube (TUBE) and PIVX (PIVX) will be put to an end on Monday, September 30. Upbit exchange announced its investigation of the six coins earlier this month. It seems that the exchange was determining if the privacy coins met the requirements listed by the FATF guidance issued last June. The latest cryptocurrency news also show that privacy coins conduct transactions on public ledgers without exposing the address or identity of an individual. Aside from Upbit exchange, there were other exchanges which also started delisting the coins as well. Examples include Coinbase and Zcash from this summer in the UK - and the Korean exchange OKEX which dropped five privacy coins earlier this month. Upbit wrote on its company blog and said that money laundering and the possibility of inflows of privacy coins were the leading reasons for delisting.
“There are also crypto-assets that can selectively utilize anonymity features among projects that are subject to end of transaction support. For these crypto-asset, Upbit has only supported transparent withdrawal/deposit support. Nevertheless, the decision to end trading support for the crypto-asset was also made to block the possibility of money laundering and inflow from external networks. Upbit will continue to consider crypto-asset that represent anonymity functions as candidates for designation of investment warning crypto-asset.”
Now that Upbit exchange decided to delist the privacy coins, the coming altcoin news show that coin prices are starting to drop. According to Messari analytics, the Zcash price dropped over 50% since July 1 joined by Monero, which has been down near 20% over the same period. Still, the exchange delistings and price drops have not necessarily slowed privacy coin tech development. Over the past month, the Electric Coin Company by Zcash released Halo which is the long-awaited zk-SNARK which can verify a single blockchain in one proof.
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Swiss Exchange BiboxEurope Launches Referral Program (With Up to 80% Gains)

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The Swiss exchange BiboxEurope is in the latest cryptocurrency news again for announcing a new set of benefits for its users. The benefits come in the form of a referral program which enables the users to make the most of their offering. As the updates show, the program went live on September 18 and should conclude by the end of October 2019. The users participating in the Swiss exchange BiboxEurope Referral Program can earn up to 80% in commissions by referring their friends and family to become part of the Bibox community. As the coming altcoin news show, the BiboxEurope Referral Program follows two other attractive announcements made by the company since its launch two months ago. First of them was the free deposits into the account, along with industry-low fees. The second announcement was the launch of the Insta-Buy feature which enables users to purchase cryptocurrencies with credit cards at unmatched rates. Basically, the Swiss exchange BiboxEurope and its Insta-Buy feature witnessed a huge rush on the opening day. As such, it forced the company to briefly suspend the functionality to boost their infrastructure so that the platform can handle its higher demands. The feature was later reintroduced. As many best cryptocurrency news sites show, the Swiss exchange BiboxEurope and its new referral program has the following rules:
  1. Every user receives 80% in referral commission by inviting their friends to trade on the platform.
  2. The commissions' token type shall be subject to the transaction fees incurred.
  3. There is no upper limit of the number of invitees.
Throughout the total duration of the program, the Swiss exchange BiboxEurope will be updating the referral and commission histories every day at 8AM (GMT+1). The referral commissions earned by users will also be distributed to their respective accounts on the next day at 10AM (GMT+1). In short, the rewards earned by users will be directly proportional to the trades executed by their referrals. The greater the number and size of trades by the referral, the higher the payouts will be for the users who referred them to the platform. You can learn more about the Swiss exchange BiboxEurope and its Referral Program at the following link.  
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BTC Owners Giving Away Altcoins To Support TOR Project

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In times when the crypto sphere is buzzing and when there are new price updates in the Bitcoin and coming altcoin news, no one would expect cryptocurrency holders to give away free crypto, right? Well, it seems like BTC owners think differently - they have been donating altcoins to the TOR Project - a nonprofit organization which is primarily responsible for running "The Onion Router." As per some Bitcoiners, this is a trend that is a way of killing two birds with one stone. On one hand, it supports the TOR Project and on another, it gets them rid of "shitcoins" as they label them. Also, the BTC owners appear keen to extend the running gag of altcoins being worthless. Many best cryptocurrency news sites earlier this year showed that people should support the TOR Project. Even the co-host of the "Tales from the Crypt" podcast Matt Odell tweeted, urging people to support the project with donations. This is where the entire frenzy started and how BTC owners began donating altcoins. As Odell back then said, "donate shitcoins. stack sats." In the news today, we also have Sarah Stevenson, who is the fundraising director at the TOR Project. She initially thought that the donations were coming from members of the Stellar community, mostly because of the influx of XLM tokens. However, the BTC owners corrected her conclusion, seemingly opposed to letting their attempted ribbing to go unnoticed. They piled onto the thread soon, dropping Twitter phrases such as “perfect destination for my airdropped shitcoins” and “sounds like a good place to dump my shitcoins.” Some of the donations by BTC owners also came from recipients of the Keybase XLM airdrop, the altcoin news today show. As we previously reported, the encrypted messaging platform Keybase partnered with the Stellar Development Foundation, launching a $120 million airdrop. Right now, BTC owners are seeing these donations as something that benefits the TOR Project. Stevenson said that they appreciate all of the donations, regardless of the subtext.
“I am generally a peace, not war kind of person but I welcome any activity that draws attention to the importance of financially supporting the Tor Project. Everyone benefits from the privacy and anonymity technologies we develop and maintain. As for the tangible value proposition for altcoins, I'll plead the fifth because I prefer to be friends with everyone," she concluded.
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