News

Hit the Bear Market Bitmain! Shutter closes in Israel

The decline in the crypto market forced the Beijing-based Bitcoin mining giant Bitmain to close the blockchain development center in Israel and lay off all of its employees.

Close All Operations in Israel

Many predicted that the bear market would not last more than a few months. The decline in the crypto market does not show any signs of stopping as it approaches the end of the year. Extremely unfavorable conditions, forces many crypto businesses to close or remove some of their workers.

Although it usually affects smaller areas, the industry giant decided to shrink in Bitmain. The Beijing-based mining material producer is hard hit by the crypto market and is trying to remain profitable.

According to Globes; Founded in Ra'anana in 2016, Bitmain is the development center Bitmaintech Israel will close this week. 23 employees will be dismissed. Gadi Glikberg, who is the deputy head of the Bitmaintech Israel, will leave the job.

Bir The crypto market has experienced a concussion over the past few months, G says Glikberg. This forced Bitmain to study the world's various activities and to refocus his work according to the current situation. Bu

During a two-year study, he worked in the Indian center of Bitmain, the pool of Connect BTC mine and in the AI technology used in the company's Sophon project.

Difficult Year for Ending

Authorities have not yet commented on the news. Moreover, it is known that there are investors who have been concerned about the stability of the company.

The news about the closure of the Israeli headquarters raises the idea that the company is currently facing two suits. In the Northern District Court of California, Bitmain was charged with a $ 5 million lawsuit against US and Chinese-based assets, accused of unauthorized mining practices.

The defendants, Another trial was opened against Bitmain, Bitcoin.com, Roger Ver and KrakenBitcoin on the allegation of manipulating the Bitcoin Cash network for their own benefit.

In addition to the legal problems faced in 2018, the company is also struggling with financial problems. In September 2018, a report from BitMexResearch showed that the company lost $ 395 million in the second quarter of 2018.

Source: Cryptoslate

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Industry News

SEC Accuses 5 Insiders of BitConnect for Illegal Promotion

SEC, Yasadışı Tanıtım’dan BitConnect İçerisinden 5 Kişiyi Suçladı

About the five people at BitConnect SECIt said it “violated Federal Securities laws.”

The SEC's complaint is that “persons who support the BitConnect Program are sold without registering the Securities with the Commission and registering as a broker-dealer with the Commission as required by law.” BitConnect's lending program is said to encourage people to invest in potential investors, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble, by creating promotional-style videos and posting them on YouTube. It is also claimed that some YouTube channels that make promotions are paid on a commission basis in return for their promotional efforts.

Shortly after his release, Trevon Brown (better known as Trevon James) posted a tweet saying he didn't deny the charges and said the community would "rally" around him.

Real crypto OG's will rally around me.

The real ones that know the truth, and what happened from day 1.

Talk to you guys soon.⏳#FreeTrevon

— Trevon James, Founder of our.glass Crypto (@BitcoinTre) May 28, 2021

Lara Shalov Mehraban, Deputy Regional Director of the SEC's New York Regional Office,

“We will try to hold accountable those who make illegal profits by taking advantage of the public's interest in digital assets”

said.

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Bitcoin News

Who Has The Most Bitcoin (BTC) Savings?

Bitcoin Analizi, Bitcoin 5.700 Doları Geçti!

According to the research result, the Winklevoss twins own 150,000 BTC, but there are names that own more Bitcoin than them…

Blockchain Center, which investigates who owns the largest amount of Bitcoin (BTC); From Winklevoss twins to scammers, from hackers to "zombie coins", he laid out all the data.

On the other hand, the most famous hacking case of the cryptocurrency world, Mt. Gox incident allegedly owned 166,000 BTC.

It is claimed that 30,000 BTC seized from the Silk Road scandal is in the hands of Tim Draper.

Plus Token scammers were said to have 200,000 BTC.

On the other hand, “Zombie coins” are surprisingly plentiful. These tokens we are talking about consist of 1.5 million BTC, which will never be used and will not be spent by anyone forever.

Grayscale's Bitcoin Trust is known as the largest institutional Bitcoin investment vehicle and currently holds over 400,000 BTC of liquidity. Lightning Network only holds 1,000 BTC, while Ethereum (ETH) has another 80,000 BTC locked.

Another 2.5 million Bitcoins are expected to enter circulation over time. Time will tell which other names will be included in this list.

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Blockchain News

National Fisheries Institute and IBM's Blockchain Tracking System Food Trust

Ulusal Balıkçılık Enstitüsü ve IBM’in Blockchain Takibi Sistemi Food Trust

The United States seafood trade association, the National Fisheries Institute (NFI), is working with Food Trust, IBM's blockchain supply chain solution, to monitor FoodOnline's reports on June 11 seafood and food-related news.

In the report, they mentioned the new system for monitoring the type of seafood jointly carried out by multiple companies. In addition, NFI members representing harvesters, importers, cold storage, food service restaurants and retail sales were also included in the program.

IBM's Blockchain Tracking System Food TrustSIRF President's Statement

The project is funded by the Seafood Industry Research Fund (SIRF), whose chairman Sean O'Scannlain said in a statement on developments:

“The tracking system is nothing new to the seafood industry, but we'll test how blockchain is a new concept, with IBM's Food Tracking system, helping seafood businesses earn revenue and reduce costs to customers from harvest to distribution.”

The system also states who can access and how long companies can control data, and who will retain control after the chain is loaded. Raj Rao, IBM Food Trust general manager Food Food Trust can change any sector, especially when we have large ecosystems, businesses and organizations ” He said.

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Source: Cointelegraph