Hundreds of millions of dollars worth of cryptocurrencies were moved through Huobi in a few transactions and the exchange’s token plummeted Monday following reports that its COO had been arrested. [Source: Technode, Coindesk, Cointelegraph]
HSBC has made its first live interbank transaction on the China Trade Finance Union Blockchain Platform (CTFU), a system designed by the China Banking Association (CBA) to manage data storage, movement and security for financial institutions (FIs) using distributed ledger technology (DLT). [Source: Ledger Insights / PYMNTS]
Bitcoin miners generated an estimated $353 million in revenue in October, up 8% from September. Network fees increased as bitcoin suffered its most severe congestion in nearly three years, as miners took machines offline, specifically some in China’s Sichuan province. [Source: Coindesk]
PayPal CEO Daniel Schulman said in an earnings call on Monday that it will support more digital currencies after it went public last month with its long-rumored plan to support the buying and selling of cryptocurrencies. [Source: The Block]
According to a new report by Atlas VPN, the amount of cryptocurrency and blockchain-related hacks has been decreasing over the course of 2020. [Source: Cointelegraph]
