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New information about the hacking of Binance appeared in the media
Aug 8, 2019 19:39


The scandal around the exchange Binance is gaining momentum. Recall that the network spread a whisper that a huge amount of user data was merged and published in the Telegram channel. Platform illegally brought 7000 bitcoin.
On the website CoinDesk appeared exclusive information supplied by a hacker known under the pseudonym Platon Bnatov. He claims that exposed the insider and malefactors. Platon provided the publication with a number of important documents, the authenticity of some of them has already been proven. The cryptocurrency is produced through a number of venues: KuCoin, Bitmex, Huobi.
A man who considered himself a white hacker, was counting on a reward from the market. Binance's reaction disappointed him. The company not only accused the hacker of extortion, but also appointed a reward for the disclosure of the identity of Platon in the amount of 25BTC.
IEO repeat the unprofitable ICO trend
Larry Chermak, a leading analyst at The Block, conducted an analysis of ICO projects. As a result, it turned out that at least 89% of them suffered losses.  However, the remaining part successfully increased profitability.
The reason for this collapse Chermak sees in the differing interests of investors and creators of projects. The funds were collected at the earliest stages, and the sources of investment could not count on the assets of ICO projects. "Survive" could a few ICO: only 10.8% increased profitability. 
The expert also notes that a similar trend is beginning to appear in the IEO, and this suggests that cryptocurrency startups can not retain value in the long term.
About the stability of bitcoin
His opinion on the stability of crypto-currencies, which daily monitors the entire world, expressed trader and analyst Willie Woo. He is sure that in the near future bitcoin will not fall to $6000.
Today, August 8, BTC rate is growing. There is a struggle to reach $12,000, which is quite possible, given the increase of 2%. The correlation between the most famous cryptocurrency and gold has increased. Bitcoin has long been compared with this precious metal, considering BTC its analogue of the digital format.
The first in the world the token stock
Registered in the Seychelles stock market MERJ announced the release of token shares. The organization thus intends to represent its assets. Edmond Tuohi, who holds the post of CEO of the company, attaches great importance to this event, speaking about the unification of the old and new world. The market uses the Ethereum blockchain to record ownership rights over the shares, stating that "it is the best supported Protocol for this purpose".











The Chinese yuan continues to strengthen against the dollar today
Aug 8, 2019 19:24


The people's Bank of China (NBK) set the average rate at 7.0039 per dollar prior to today's market opening, which is slightly weaker than the previous fixed rate of 6.9996.
Four days ago, for the first time in 11 years, the yuan weakened more than the psychologically important 7 yuan mark for one dollar. The decline in the official exchange rate was caused by tensions between China and the United States, which spread to monetary policy. This happened earlier this week, after Washington accused China of manipulating the currency. Last week, Donald Trump said that from September 1, he will introduce new increased tariffs for the remaining $ 300 billion of Chinese imports in the economy of his country.
The online market opened today at 7,0402 yuan per dollar and hovered at 7,0425 at noon, 171 points above the close of the previous session. Its offshore counterpart was trading at 7,0659 per dollar, recovering from Wednesday's close at 7,0823 yuan per dollar.
Investors are closely following the official reports on the activities of the NBK this week in search of clues about Beijing's future policy on the currency. This policy will determine their attitude to the yuan, as there are fears that the expansion of the trade war between China and the US could lead to a currency war.
Ken Chung, senior currency strategic analyst (Asian direction) at Mizuho Bank in Hong Kong, said: "These fluctuations have confirmed that the psychologically key level is not the "red line" for the yuan. Trading USD/CNY above 7 is now a new reasonable balance.  Such a situation may signal a further decline in the yuan. And after the breakdown of trade negotiations, the NBK is less committed to maintaining the stability of the yuan."
According to analysts, the events of today were much more serious than expected. It is assumed that the Central Bank may begin to use the so-called "countercyclical factor". This concept was first introduced in may 2017, and it is perceived by the market as an official tool to reduce price fluctuations and mitigate depreciation.
According to Reuters estimates based on official data, against the basket of 24 currencies created by the Chinese currency trading system (CFETS), the value of the yuan fell to 91.99 – the lowest level since the introduction of the index in early 2015. The CFETS index is published only once a week.
Four knowledgeable sources confirmed that state-owned banks exchanged yuan for dollars in the OTC market to support the Chinese currency. Buy-sell swaps help reduce the dollar supply available to the market for a short yuan sale. 
China's largest state-owned banks have resorted to this in an effort to cover up the fall of their currency. Market participants have reason to believe that China's major state-owned banks operate under the control of the NBK.
 
 













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