Crypto News Weekly Round-Up

Crypto news is the primary scene for any trader as exchanges can be moved by news event immediately. If you’ve missed the crypto news of this week, this post provides a comprehensive look at the stories that made headlines. A lot has happened in the cryptocurrency and blockchain world. Here is a quick round-up of crypto news you may have missed:

Tether On The Brink of Collapse?

The price of Bitcoin has regularly been affected by changes in stablecoin Tether (USDT). So, it’s somewhat unusual that Bitfinex, the cryptocurrency exchange behind Tether LLC is directing the management. All exchanges that have USDT combined, including Huobi and OKEx, are viewing Bitcoin traded at a premium price, as traders proceed to start the largest selloff of USDT so far.

Bitcoin is being exchanged with a notable prize on exchanges that have blended USDT such as OKEx and Huobi, because dealers have launched the significant sell-off of USDT to date. An unexpected hole of USDT led the price of the Tether to drop to $0.95 by around 6 percent from its peg at $1 on Monday. The decline in the utility of USDT developed a bounty on Tether-integrated cryptocurrency exchanges.

Crypto Malware Found in Adobe Flash Player Updates

The cybersecurity firm Palo Alto Networks revealed that it has uncovered more cryptocurrency mining malware concealed within a fake Adobe Flash Player update. Using pop up notifications from the official Adobe installer, these malware infect the user’s PC when run. The malware may also update the system’s Flash Player to the latest version, making the attack less obvious while installing cryptocurrency mining malware like the XMRig cryptocurrency miner.

The malware will run in the background of an operating system once embedded, mining cryptocurrency. The user’s antivirus protection may or may not identify the malware. Symptoms of a Cryptocurrency mining malware silently mining in the background includes sudden pressure on the system’s resources, or the processor seems to be running constantly. Malware may be identified in the Windows Task Manager as an unusual program using large amounts of system resources.

CFTC Commissioner Warns Smart Contract Coders

CFTC, the U.S. Commodity Futures Trading Commission has warned smart contract coders over the predictive code. CFTC is a self-governing agency of the US government founded in 1974 that monitors prospects and alternatives markets.

Brian Quintenz, a commissioner at the U.S. Commodity and Futures Trading Commission (CFTC) said that smart contracts are manageable, hence developers can modify them to foretell approaching results. Smart contracts are nearly boundless in their applicability to the amount they can even be utilized to replicate traditional financial instruments. He further explained that if the product is within the jurisdiction of CFTC, but is not being administered in a manner docile with CFTC rules then who should be held accountable for this activity? How should the CFTC impose its laws against a software code? The answers to these questions are still being examined.

Cryptocurrency Donations Baffle US Colleges

As an increasing number of graduates of prestigious universities are finding success in the rapidly growing Cryptocurrency industry, the universities are finding themselves at the receiving end of donations made using digital assets. However, despite the fact that their alumni have embraced the technology, many universities have no clue as to what to do with the funds gifted to them.

The list of institutions receiving donations in the form of bitcoin and other digital assets continues to grow each year. However, it seems not all universities are exactly keen on accepting unfamiliar assets as payment owing to the fact that most endowment managers have are clueless as to how to handle cryptocurrencies.

Tron Reveals Partnership With Baidu

Tron, a blockchain startup trying to decentralize the internet has announced its partnership with China’s largest Internet search provider Baidu. Tron and Baidu will collaborate on cloud computing plans, according to an official tweet from the TRON Foundation.

Tron Foundation disclosed in its latest tweet that it would be operating jointly with Baidu, a China-based internet giant, to utilize their cloud solutions. The tweet validates a number of unauthorized stories that have been broadcasting since Oct. 13. The initial sign that the essence of the Baidu-TRON union would be particularly focused on cloud service procurement. In this collaboration, both companies will work on the Blockchain Commercialization Super Partner Program 1.0. This will drive the research method in the arena of blockchain for the internet service-provider and will help in creating a reliable blockchain ecosystem for the society with the participation of numerous trading companies.

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