Bitcoin Guru

Amid online rumors of internal strife amongst company leadership circles over long-term direction, ASIC hardware manufacturer Canaan Creative reportedly removed four executives from its listing last week. Co-Chairman Kong Jianping, Non-Executive Director Sun Qifeng, Founder and CFO Li Jiaxuan, and Public Affairs Director Tu Songhua were removed from the publicly listed company's registry according to changelog entries on July 6, 2020. The business registry now lists company CEO Nangeng Zhang as the organization's sole director. The registry still lists both Kong and Li as part of Canaan's "core team." Zhang was given the new official role of executive director and general manager, dropping the chairman title. Canaan added Meng Lu as the new supervisor. Canaan has not commented publicly on the reasoning behind the abrupt change to the listing of these senior executives. Chinese media outlets were swift to point out the parallels between the internal power struggles...

The FBI is leading an investigation into the July 15 Twitter hack, in which 31 high-profile Twitter accounts were compromised by a hacker and used to promote a digital currency investment scam. According to Reuters, U.S. lawmakers that are concerned about future attacks on Twitter prompted the FBI's investigation. "While this scheme appears financially motivated…imagine if these bad actors had a different intent to use powerful voices to spread disinformation to potentially interfere with our elections, disrupt the stock market, or upset our international relations," said U.S. Senator Ed Markey. The hacker had the ability to take over any Twitter account, yet, used their power to promote a digital currency scam. The scam consisted of the hacker telling the millions of followers of the compromised accounts to send them digital currency, promising to send them double the amount that they were being sent. However, it was a scam—the attacker did not send double the amount of ...

Japan's blockchain industry has been growing rapidly in 2020 despite the economic struggles and the global pandemic. A new report by one of the country's largest digital currency companies revealed that the sector has grown by over 30% since 2019. Japan has been a trailblazer in the blockchain industry for years, being one of the first countries to formulate and implement a regulatory framework for the industry. Its blockchain-friendly approach has led to a rapid growth of the industry, a new report now shows. In the past year, the industry has grown by 30%, the report by the Monex Crypto Bank showed. The bank is a subsidiary of the Monex Group, the operator of Coincheck exchange which it acquired in 2018. The report revealed that as of May this year, there were 430 blockchain companies in Japan. This is a 30.7% rise from the 329 companies reported in July last year. 64% of these companies focus primarily on blockchain technology, the report showed, with the rest being involved...

Zimbabwe's currency struggles don't seem to be coming to an end any time soon. In the latest update, the Reserve Bank of Zimbabwe has announced a ban on mobile money transactions. According to the regulator, mobile money operators have been taking advantage of the financial instability to overcharge the users. Zimbabwe has been undergoing a currency crisis for the better part of the past two decades. The Southern African country has tried a number of solutions, from banning the local currency to using the U.S. dollar and introducing bond notes as a surrogate currency. However, none of them has given the country the monetary stability that the people so desperately need. In its latest effort, Zimbabwe's central bank has cut off one of the most widely used payment methods. A majority of Zimbabweans have turned to mobile money for day-to-day transactions due to the shortage of cash in the banks. However, according to the regulator, the mobile money operators have been exploiti...