The U.S. Department of Justice (DOJ) announced on Wednesday that Nikita Andreevich Sklyuev, also known as Valeriy Dorojkin, has been extradited from Ukraine and arraigned in Buffalo, NY, on charges of wire fraud and fraudulent use of an unauthorized access device. Sklyuev is accused of submitting a malicious cryptocurrency wallet app, “EOSIO Wallet Explorer,” to […]
Bitcoin News
Rumor Of Apple Partnership Sends Crypto Altcoin Soaring By 20%
A whirlwind of speculation is currently surrounding the crypto asset JasmyCoin (JASMY), colloquially termed the “Bitcoin of Japan,” following a recent announcement from the Prime Minister’s Office of Japan. Yesterday, it was disclosed that a video conference between Prime Minister Kishida and Apple CEO Tim Cook had confirmed the integration of Japan’s My Number Card function into iPhones by next spring.
Crypto Investors Speculate On Apple Collaboration
The news has sparked a significant rally for JASMY, leading to a 20% increase in its market value within the last 24 hours, pushing its market capitalization to .4 billion and ranking it the 67th largest cryptocurrency by market cap. The altcoins’ 24-hour trading volume has also surged by 400% to 0 million.
While the My Number Card system—a personal identification framework by the Japanese government—is not officially related to JasmyCoin, rumors have circulated regarding a potential linkage for a few months. Despite no formal confirmation, investors are seemingly speculating on a linkage, influenced by the broader interpretation of Japan’s digital strategy, which includes fostering Web3 technologies like blockchain and IoT, domains where JasmyCoin is a significant player.
JasmyCoin, established in 2016 by former Sony executive Kazumasa Sato, aims to provide secure data transactions and storage for IoT devices. The cryptocurrency is rumored to be part of Japan’s broader approach to integrate advanced technologies into everyday life, including the Metaverse and NFTs. “Jasmy’s mission is to facilitate the democratization of data through secure management and storage solutions, allowing individuals to retain control over their personal information.
Speculation about JasmyCoin’s involvement with the My Number Card system seems further fueled by an erroneous report shared on Binance Square, suggesting a direct integration of JASMY with the card’s functionality on iPhones. However, this claim has not been substantiated by any official sources.
The Japanese government has been a proponent of adopting Web3 innovations as a strategy for economic growth, with the Prime Minister himself emphasizing the importance of digital transformations in recent public addresses. The optimistic outlook for blockchain technology in Japan has been a boon for JasmyCoin, with the government’s digital policy indirectly benefiting the cryptocurrency.
The recent surge in JASMY’s market activity demonstrates the volatile nature of cryptocurrency markets, where rumors and expectations can drive significant price movements. As it stands, while JasmyCoin is indirectly aligned with Japan’s digital ambitions, direct partnerships or integrations with governmental projects like the My Number Card have not been officially confirmed.
Since February 19, JASMY has rallied by approximately 380%. However, the altcoin is still down more than 91% from its all-time high of .35 in October 2021. At press time, JASMY traded at .03068.
Render Soars 50% In 1 Week: Whales Accumulating As Apple Jumps In
Render is on the move. Price statistics show that the coin is on an uptrend, rising by 50% in the last week due to surging trading volume.
The uptick is primarily due to increased whale interest, which appears to be accumulating, moving RNDR from exchanges. At the same time, bulls are finding tailwinds following Apple’s decision to leverage Render in its Octane X rendering software.
Whales Accumulating RNDR, Token Moved From Binance
Lookonchain data on May 8 shows that the RNDR leg up follows massive token withdrawals from Binance, one of the leading crypto exchanges. The analytics provider notes that one address, 0x15CF, withdrew 748,898 RNDR tokens (worth approximately .3 million) from Binance between April 30 and May.
Of note, Lookonchain analysts note, is that the address boasts of a remarkable track record with RNDR. The whale has profited on RNDR in six out of seven trades, raking over .5 million in profits.
Besides this, other withdrawals include 364,586 RNDR (worth over .68 million) by 0x1Cb7, who has previously made 0,000 on RNDR. Additionally, another transfer of 181,922 RNDR ( worth over .81 million) by 0xCA9C from Binance.
Usually, transfers from centralized exchanges to external, non-custodial protocols or wallets are seen as bullish. This is because on Binance, for instance, RNDR or any other token holder can swap the token for another or cash, essentially liquidating and increasing supply.
This is harder on non-custodial protocols because liquidity is challenging due to the absence of other crypto or fiat ramps.
Apple Integration Boosts Demand
RNDR prices also rose following news that Apple would feature Render Network in its Octane X software. Octane X is a GPU renderer for macOS users. In a keynote, Apple said this software will empower artists with high rendering capabilities.
Most importantly for RNDR holders, Apple content creators will leverage Render’s decentralized computing power whenever they need to process complex scenes and high-definition animations. By tapping into Render, artists will benefit from faster rendering times and lower costs typically incurred when producing high-quality videos or 3D modeling.
On Apple’s side, integrating Render and easing activity on its iCloud services helps reduce server workload, boosting efficiency. Additionally, analysts said developers might gain access to Render via Apple’s developer tools. Subsequently, they can create more demanding models or files without expensive hardware.
At spot rates, RNDR prices are firm, extending gains. It is up 50% from May lows as bulls target March highs of .
Philippines Securities Regulator Requests Apple and Google to Remove Binance Apps
The Securities and Exchange Commission (SEC) of the Philippines has requested that tech giants Apple and Google remove Binance apps from their respective app stores. The SEC chairman stated that the blockade on Binance, coupled with the removal of its app, curbs the further spread of its unlawful activities in the country. Binance Apps Pose […]
Bitcoin News
Trust Wallet Advises Apple Users to Disable Imessage Amid Fears of Zero-Day Exploit
Trust Wallet, a crypto wallet provider, has issued a warning for Apple users to disable Imessage, based on “credible intel” about a zero-day exploit available on the dark web for million, which could allow hackers to take control of users’ Iphones without any interaction needed. The alert was met with skepticism by some in […]
Bitcoin News
DOJ and US States Take on Apple in Major Antitrust Suit Over App Store Monopoly
The United States Department of Justice (DOJ), joined by 16 state attorney generals, filed an antitrust lawsuit against tech giant Apple, claiming its app store rules create a monopoly that hampers competition and stifles innovation. The lawsuit argues that practices such as forcing developers to use Apple’s payment system and restricting them through various rules […]
Bitcoin News
Gods Unchained Goes Mobile: Play-to-Earn NFT Game Launches on Google Play and Apple App Store
On Thursday, the creators of the Immutable X-powered non-fungible token (NFT) game Gods Unchained announced that the game is now accessible on mobile devices. The Gods Unchained application has made its debut on both the Google Play Store and Apple’s App Store across the globe. God’s Unchained Launches Mobile Application The popular play-to-earn strategy card […]
Bitcoin News
Apple and Google Remove Several Major Crypto Exchanges From App Stores in India Following Regulatory Crackdown
Apple and Google have removed several major crypto exchanges from their app stores in India after the Indian Financial Intelligence Unit flagged nine crypto service providers as operating illegally in the country. Various telecom networks and internet service providers in India are also blocking the websites of affected crypto exchanges.
India Continues Crackdown on Uncompliant Crypto Platforms
Tech giants Google and Apple have taken action against several major crypto exchange apps in India following the crackdown on offshore crypto exchanges by Financial Intelligence Unit India (FIU IND).
On Saturday, Google removed major crypto exchanges like Binance and Kraken from Google Play Store in India while Apple pulled crypto exchange apps from its App Store a few days earlier. In addition, various telecom networks and internet service providers in India have also started blocking the websites of affected crypto exchanges.
In December last year, India’s Financial Intelligence Unit issued “compliance show cause notices” to nine offshore crypto firms. The government explained that all crypto service providers operating in India are required to register with the FIU IND as a reporting entity and comply with the rules set forth by the Prevention of Money Laundering Act 2002. The Ministry of Finance stated at the time that 31 crypto service providers have registered with the FIU IND.
The nine crypto firms that received a notice from the FIU IND are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.
Commenting on Apple removing its app, before Google implemented a similar policy, Binance Customer Support detailed on X Friday:
We are aware of an IP block affecting a number of crypto firms, including Binance. This only impacts users who attempt to access the Indian iOS app store or the Binance website from India. Existing users who already have the Binance app are not affected.
“The ongoing situation is not unique to Binance and impacts other web3 industry players as well. We are working hard to inform constructive policy-making that seeks to benefit every user and all market participants. All user funds are safe,” Binance Customer Support noted.
What do you think about Apple and Google removing crypto exchange apps flagged by the FIU from their app stores? Let us know in the comments section below.
‘Apple and Google Are Systemic Risks to Crypto,’ Says Ex-Coinbase CTO
Authorities in the U.S. and elsewhere may try to compel tech firms like Apple and Google to exfiltrate private keys from devices and apps under their control, crypto entrepreneur Balaji Srinivasan warned on social media. The former executive of Coinbase believes this would be done to remit funds to cash-hungry governments.
Tech Giants Apple, Google Could Extract Private Keys From iPhone and Android Devices, Srinivasan Fears
If having sufficient bitcoin becomes the most important political issue in the coming years, bankrupt governments may attempt to get hold of some of people’s crypto, according to Balaji Srinivasan, former chief technology officer (CTO) at crypto exchange Coinbase.
While a conventional 51% attack through mining isn’t something the U.S. could easily pull off now, it may try to compel Apple, Google and other tech companies “to hunt for private keys on the servers, devices, and browsers they control. And to remit any stolen funds to a cash-hungry federal government,” Srinivasan tweeted on Friday.
Apple and Google are systemic risks to crypto.
If weaponized by the federal government, they could backdoor iPhone and Android to exfiltrate private keys.
— Balaji (@balajis) May 19, 2023
“This isn’t cyberterrorism, it’s cyberwar. It’s not some random hacker who manages to sneak out a file. It’s when the CEO of a company gives the lawful order to hack their customers,” the entrepreneur elaborated, pointing to what happened with millions of Russians in the spring of 2022 when “every tech company turned on their former customers.” He also suggested a possible target:
We’re talking billions of iPhones and Android phones, Mac laptops and Chrome browsers, Google Docs and Gmail. China could do the same with the Chinese smartphone manufacturers.
“If you can’t trust the operating system itself, things get tricky,” Balaji Srinivasan says. He thinks Linux can be employed as an alternative but notes that Linux-based devices may not scale in time. “Exchanges built on Linux are another possible answer, but those are of course custodial and possibly also vulnerable to similar attacks,” the ex-Coinbase executive added, concluding:
I don’t have all the answers, but I want to raise the question to get us to start thinking about it. It’s possible that the answer here is in part social or political, not simply technological.
In the beginning of May, Srinivasan closed out early a bet that the price of bitcoin would hit million by mid-June amid hyperinflation of the U.S. dollar. “I just burned a million to tell you they’re printing trillions,” he said in a blog post, warning that the world is facing not just a financial but a fiat crisis, with a meltdown likely to be worse than the previous.
Do you share Balaji Srinivasan’s concerns about crypto holdings and tech giants? Tells us what you think on the subject in the comments section below.
Apple Co-founder: “My Gut Feeling Tells Me Bitcoin Will Go To $100,000”
Steve Wozniak, the co-founder of Apple, one of the world’s most valuable companies, thinks Bitcoin will, in the future, rally to as high as 0,000.
Bitcoin May Rally Because People Are Interested
In a recent interview posted by Documenting Bitcoin on Twitter, the entrepreneur explained that he couldn’t place any mathematics or science behind his prediction but remains upbeat about Bitcoin’s future. His confidence in the legacy blockchain and its coin stems from how people are interested in the platform and its stability.
Bitcoin is a peer-to-peer network that allows people to transfer value without relying on an intermediary like a bank or a processor. As of February 24, Bitcoin had a market capitalization of over 9 billion and is the most valuable cryptocurrency. Part of this is because people trust the coin.
Since launching in early 2009, it has never failed and maintains a high-reliability score close to 100%. It is this stability that Steve thinks is interesting.
It is estimated that only a tiny percentage of the world’s population holds Bitcoin and cryptocurrencies. However, considering the increasing popularity of Bitcoin, crypto, and blockchain, especially innovation in finance and digital ownership through DeFi and NFTs, the number of BTC and crypto holders will likely increase in the years ahead.
Anchoring this preview, the number of unique Bitcoin addresses has increased since launch, mirroring the general valuation of the entire crypto scene.
However, while Steve remains upbeat about Bitcoin and the space’s prospects, he doesn’t hold a big bag. He isn’t interested in making money from the coin. Instead, as he said during the interview, he’s excited about using the coin and experimenting with how it can be used as a utility in the real world. However, he is not invested in BTC or stock. Presently, Steve holds less than 1 BTC.
A Medium Of Exchange That’s Legal Tender In El Salvador
Bitcoin, in its whitepaper, was initially designed to be a means of exchange, electronic money. Over time, it has morphed into a store of value, an alternative to gold. Still, many users prefer the coin to move value across borders considering its speed, trustless nature, and high reliability.
In El Salvador, Bitcoin is legal tender, joining the ranks of other reserve currencies, like the USD.
Only time will tell whether BTC will rally to hit 0,000 or drop to , as no-coiners like Nouriel Roubini, the economist, say.
Currently, the coin is trading at ,901 and has been relatively stable in the past week.