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Judge denies WeChat ban in US

WeChat ban in US has been denied by the honorable court. Federal Judge Laurel Beeler denies the request to take down the WeChat mobile app. The judge deems the provided data misaligned and unjustified. Over 19 million WeChat users of America will continue to enjoy the updated services of the mobile app as a Californian […]

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  • WeChat ban in US has been denied by the honorable court.
  • Federal Judge Laurel Beeler denies the request to take down the WeChat mobile app.
  • The judge deems the provided data misaligned and unjustified.

Over 19 million WeChat users of America will continue to enjoy the updated services of the mobile app as a Californian federal judge rejected the Department of Justice’s (DOJ) plea to take down the app availability for download through Apple and Google stores.

Arguing that WeChat like TikTok services constitutes a serious national security threat, the Department of Justice expected to convince Laurel Beeler, U.S. Magistrate Judge of the danger of the Tencent mobile program. The application seems to be a victim US-China trade war.

Much to their dismay the magistrate is reported to have rejected their claims and provided proofs of evidence weighing heavily towards the mobile app posing a number of security issues deeming it best to be banned from American mobile users.

WeChat ban in US rejected based on arguments

Beeler’s statements of Oct 23, Friday suggest the presented data and drawn conclusion by government officials to be misaligned and non-justified with the claims made against the Mobile app. Rejecting the WeChat ban in US he deemed the event to have added unnecessary professes take government inclined interests forward.

The app popular among the US and China-based users is available for personal and corporate business purposes and is similar to Facebook, WhatsApp, Instagram, and Venmo. Users have dejected the government claims for the WeChat ban in US as a communication source, based on mere speculation.

Another order proceeding initiated by the Commerce Department of the US, similar in nature, has been obstructed in September by Laurel Beeler that would have dictated the app’s ban through US-based App stores. The department was expected to have prohibited distribution of both WeChat and TikTok.

As per earlier reports of The New York Times, TikTok users will be bereaved from access to updates and upgrades to improve and maintain the app effective from Sunday Night – Wilbur Ross, US Commerce secretary.

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$100 Million in Bitcoin From Bitfinex Hack Has Moved

The stolen funds—today worth over $2.3 billion—are slowly being moved around.

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In brief

  • The Bitfinex exchange was hacked in 2016.
  • Sometimes the Bitcoin stolen is moved around, and today nearly $100 million-worth was shifted.
  • It is still not known who hacked the exchange.

Nearly $100 million worth of Bitcoin stolen from the 2016 Bitfinex hack has just been moved from idle wallets. 

Over 5,000 Bitcoin was moved on Monday from 14 wallets. These 5045.48 coins—worth $98.3 million—hadn’t previously been moved since the 2016 hack. 

The Bitfinex exchange was hacked in 2016 following a problem with its multi-signature wallets. Today, the stolen Bitcoin is worth over $2.3 billion (yes, you read that right.) 

 

Today’s movement of the stolen funds isn’t the first time some of the Bitcoin pinched in the 2016 hack has been moved. Just in August, about $5.6 million in stolen coins was shifted

Moving Bitcoin from idle wallets keeps happening, too. Bitcoin that hadn’t previously moved for years is being transferred to other wallets—known as an “awakening”. 

The Bitcoin is often “Satoshi-era”—meaning the coins were mined when Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was still communicating with the crypto world.

But the previously sleeping Bitcoin moved today has a sadder history behind it: The cryptocurrency stolen in the hack still hasn’t been recovered. Bitfinex has even offered up to $400 million as a reward for anyone who can put it in contact with the hackers.

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Litecoin Price Prediction: LTC/USD Aims to Make a Breakout Attempt Above $90 Level

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LTC Price Prediction – November 30

LTC/USD may continue to set a bullish run if the market can climb back above the $90 resistance level.

LTC/USD Market

Key Levels:

Resistance levels: $95, $100, $105

Support levels: $70, $65, $60

LTCUSD – Daily Chart

According to the daily chart, LTC/USD is currently showing a positive movement over the past few hours. The market is actually running a little retracement move towards $90 with price growth of 9.18%. Apart from today’s gain, Litecoin (LTC) is still maintaining an upward movement within the channel and traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.

What to Expect from Litecoin (LTC)

If the price can keep respecting the upward movement, we can then expect a bullish continuation after testing the $75 support. As the technical indicator, RSI (14) crosses above the 9-day moving average; the potential resistance levels are located at $95, $100, and $105 in the long-term.

However, should in case the coin continues to maintain the rising channel pattern, traders may witness a more bullish trend. Meanwhile, looking at the price formation, a bearish breakout may likely play out for this market and this could roll the coin back to the long-term support at $70, $65, and $60 levels. Therefore, a continuous fall might further lead to a violent break below $55.

Against Bitcoin, the buyers are gradually stepping back into the market as the coin is trying to show some promising signs that could make higher highs should it continue to move above the 9-day and 21-day moving averages. From the upside, the nearest level of resistance lies at 4800 SAT and above this, higher resistance lies at 5000 SAT and 5200 SAT.

LTCBTC – Daily Chart

In other words, from the downside; the nearest support level is below the moving averages at 4100 SAT and beneath this, further support lies at 4000 SAT. If the price drops further to create additional low, lower support may be located at 3800 SAT and 3600 SAT. The RSI (14) has already crossed above the 50-level which shows that the bulls are building up.

Source: https://insidebitcoins.com/news/ltc-usd-market-33

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Crypto Version of ‘Giving Tuesday’ Returns With 10X as Many Charities

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With the holiday season approaching and cryptocurrencies led by bitcoin (BTC) surging in price, charities are warming to the opportunity to accept donations of the digital tender. 

Slated for Dec. 1, the crypto rendition of the annual worldwide charity event #GivingTuesday  – #BitcoinTuesday – is back for another year, spearheaded by crypto donations platform The Giving Block. 

According to the organization, while last year’s Bitcoin Tuesday event managed to attract only 12 non-profits, this year over 120 such organizations including Save the Children, No Kid Hungry and The Tor Project have signed up for the event. The non-profits will accept donations in cryptocurrencies such as bitcoin (BTC), ether (ETH) and litecoin (LTC), among others. 

“In general, as the price goes up, you see a lot more donations. And we saw that happen a lot in 2017,” said Alex Wilson, co-founder of the Giving Block, adding that donations may even rise because people may look to offset their tax liability amid rising prices for crypto assets.  

While charity is its own reward, making the donation in cryptocurrencies can help users avoid some capital gains taxes they might otherwise have incurred had they cashed out their crypto and donated fiat, tax experts have noted.

Since cryptocurrencies are treated like property by the Internal Revenue Service (IRS) and some other tax agencies around the world, taxable events occur every time a user converts crypto to fiat.

But like stock donations, users can donate cryptocurrencies, get a tax write off-and not have to worry about paying capital gains tax on the cryptocurrency they donate. 

Diversifying donations

Hope for Haiti, a nonprofit organization which works toward improving education, health and water facilities for residents of the Caribbean nation, is one the charities accepting crypto donations. According to the non-profit’s CEO, Skyler Badenoch, the idea was in part spurred by a need to diversify donation sources. So it did some research on the market. 

“We know how much litecoin it would take to pay a teacher’s salary, we know how much XRP it would take to plant a tree,” said Badenoch. He noted that the non-profit is also keen on exploring how blockchain technology can help add transparency to the charity sector. 

A non-profit focused on tackling child hunger in the United States, No Kid Hungry, is another organisation which will be taking part in the Bitcoin Tuesday campaign. The non-profit, similar to Hope for Haiti, also indicated that it swaps gifted crypto for fiat upon receipt. 

“Similar to stock donations, we convert cryptocurrency donations into U.S. dollars immediately,” said Diane Clifford, managing director of constituency development at No Kid Hungry.

A Bitcoin tradition

In addition to the Giving Block campaign, users can also make crypto donations through BitGive

Founded in 2013, BitGive helped co-host one of the first Bitcoin Giving Tuesday events in 2014 and has since continued to support charities in the United States and overseas. The first  crypto-specific registered non-profit organization, BitGive uses the Bitcoin blockchain and RSK sidechain to help donors seee where the money is going.

“We tackled these more simple concepts many years ago,” said founder Connie Gallippi. “We are excited to now have grown and developed a sophisticated platform leveraging the technology directly and demonstrating the beauty of bitcoin and blockchain to a mainstream audience.” 

Since those early days, BitGive has added a layer of transparency through its GiveTrack tool, allowing donors to follow the money and see where and how it is allocated. Some of its most recent project announcements include partnerships with Heifer International, an organization that works to eradicate hunger and poverty, and Black Girls Code.

In an effort to give newcomers to crypto donations an easy way to donate, BitGive has announced that donors can now make donations on its GiveTrack platform using credit/debit cards or Apple Pay through Wyre

“Our platform will automatically convert their donation into bitcoin and send BTC to the charity’s wallet,” said Connie Gallipi, founder of BitGive, in an email. She added that this way mainstream users who never owned cryptocurrencies could take advantage of the blockchain-associated transparency without the hassle or friction of having to buy some.  

Disclosure

Source: https://www.coindesk.com/giving-tuesday-giving-block-bitgive

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