Venezuela is moving a shipment of 29 tonnes of gold, worth approximately 1 billion Euros or 1.2 billion dollars, to the United Arab Emirates for sale. UAE will pay cash Euros for the trade, which has riled US officials currently engaged in dethroning Socialist President Nicolas Maduro. 3 tonnes were already shipped on January 26th, according to a source speaking exclusively to Reuters. Euros for Liquidity After a record financial crisis in the South American country, compounded by decreased oil production, the Venezuelan government plans to use the Euros to ensure liquidity for international trading. Trading has been all the
Leading cryptocurrency investor law firm Silver Miller Law has filed suit against cell phone giants AT&T and T-Mobile on behalf of several digital asset investors who were victims of the identity-theft tactic known as “SIM swapping.” The suit alleges that both companies possessed flaws in their security systems and failed to properly train their employees to work against hackers seeking to gain access to users’ smartphones.
On August 8, 2018, ShapeShiftAG, the parent company of ShapeShift.io, one of the world’s largest decentralized cryptocurrency exchanges, announced its acquisition of Bitfract, a blockchain software startup based in Austin, Texas.
Bitfract’s crypto trading tool allows users to swap bitcoin for a basket of cryptocurrencies within a single transaction.
Speaking to Bitcoin Magazine, ShapeShift founder and CEO Erik Voorhees revealed that this sort of multi-crypto trading solution has been a long-term target of ShapeShift’s internal engineering team. One thing that stood out about Bitfract for Voorhees was the “creativity and drive of the team.”