In this week’s daily editions of Bitcoin in Brief we reported about a couple of new exchanges, a major security breach at Bancor, and why the Binance CEO came out against Ethereum founder Vitalik Buterin. This week’s most commented-on article covered the Nobel laureate economist Joseph Stiglitz, who predicted that cryptocurrencies will be “regulated into oblivion.”
Also Read: Robinhood Crypto App Adds Bitcoin Cash and Litecoin Trading
New US Exchange
On Monday we reported that the American crypto trading market got a little more competitive with a new exchange opening. HBUS, a strategic partner of Huobi, has begun accepting new user registrations by U.S. residents, supporting BTC, BCH, ETH, ETC, LTC, USDT, CVC, DASH and TUSD. Additionally covered, ASIC producer Bitmain has raised up to $400 million in its latest fundraising round valuing the company at $12 billion, and Binance donated $1 million to flood victims in Japan.
Bancor Breach
The big story on Tuesday was that Bancor reported it had experienced a “security breach”. A wallet used to upgrade some smart contracts has been compromised and used to withdraw 29,984 ETH, worth approximately $12.5 million. “The same wallet also stole: 229,356,645 NPXS (~$1M) [and] 3,200,000 BNT (~$10M).” Bancor added that “once the theft was identified, we were able to freeze the stolen BNT”. The countermeasures raised questions about the decentralized status of Bancor which doesn’t square with the freezing of tokens and shutting down the network. We also reported that Irish entrepreneurs are setting up a new decentralized crypto exchange in Europe.
Google Founder Is a Crypto Miner
On Wednesday we reported that Sergey Brin, president of Google parent company Alphabet, revealed that he is a crypto miner. “A year or two
