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Bithumb Resumes Deposit and Withdrawal Services – Upbit Reveals 127% Cash Reserves

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South Korean exchange Bithumb has resumed deposit and withdrawal services for a number of cryptocurrencies after the recent hack. Another major Korean exchange, Upbit, has released an audit report showing more crypto and cash reserves than needed to pay customers. Meanwhile, all customer deposits at Korbit will now be held by a bank. Bithumb, South Korea’s largest crypto exchange, announced on Saturday, August 4, that deposit and withdrawal services for nine cryptocurrencies will be resumed on August 4 at 7 p.m. KST. The nine cryptocurrencies are BTC, ETH, ETC, XRP, LTC, BCH, ZEC, QTUM, and MITH. Upbit Audit Report Shows Plenty of Reserves Upbit, South Korea’s second largest crypto exchange, released an audit report Friday. The audit was conducted on June 28 and 29 by Eugene Accounting Corp and focused on 145 coins and the exchange’s deposits, according to Upbit. Korbit Lets Bank Hold all Customer Deposits Korbit, another of the country’s four largest crypto ...
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Korean Crypto Exchange Bithumb Suspends Opening New Virtual Accounts

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Bithumb has suspended issuing new virtual accounts to crypto traders starting on August 1 after failing to renew the contract with its bank. These accounts are part of the real-name system enforced by the Korean government earlier this year. Only three exchanges in the country are now reportedly able to open new virtual accounts for their customers. Bithumb Halts Issuing New Virtual Accounts Crypto exchange Bithumb has announced the suspension of new virtual account issuance starting on August 1. With a 24-hour trading volume of $245,786,110 at the time of this writing, Bithumb currently ranks as South Korea’s largest cryptocurrency exchange by trading volume, according to Coinmarketcap. However, the news outlet noted that “customers who already have virtual accounts can use them for deposit and withdrawal services.” For Bithumb customers, virtual accounts are needed to deposit or withdraw Korean won. https://news.bitcoin.com/korean-crypto-exchange-bithumb-virtual-accounts...
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Part 4. It's July 1998, and we have reached the business end of the World Cup in France. France square it against current defending champion Brazil. Everyone knew what dangers posed by the Samba boys. It's not a fluke this nation has 4 winners medal to their name. And besides they had the deadliest attacker in the game, Ronaldo De Lima. In a charged arena, finally the whistle went for kick off. The French were on the attack from start to finish and they won their first trophy. Two goals from Zinedan Zidane and a third from Emmanuel Petit secured victory. Now why am I telling you this story? What's all this have to do with succeeding in business and life. Yes, hard working France won, big deal! They won their second trophy last year, what's the point? Yes, France won that trophy but its not that victory which is so important. It's the news that later emerged about how they won. In 2018 former UEFA president, Michel Platini, revealed how they ...
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Bitcoin, Crypto and Banks: Economist Says It’s the End of Government Monopoly on Money

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Jeffrey Tucker, economist and editorial director for the American Institute for Economic Research, is calling out banking elites and governments for their long-standing monopoly on money, which has led to “world wars, depression and inflation, enormous government indebtedness, and the rise of leviathan states that learned to print their way to power and riches.” In a recent report, Tucker advises central banks and governments to stop meddling in the world of crypto — where they’re not wanted, not qualified and not going to succeed. But banks are hardly lying down and rolling over. They’re lining up solutions to kick Bitcoin and crypto to the curb, challenging the fintech startups that are vying to take away their monopoly and world dominance. Tucker addresses their central scheme to stop the competition: issue their own digital currencies. But a government-backed, central bank-branded coin would have nation-state borders and would live on a permissioned blockchain. It would ...
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