Fintech Land

Samsung is making chips for Bitcoin mining

Samsung’s semiconductor business is booming, with the company recently overtaking Intel as the world’s biggest chipmaker. But the South Korean firm is not resting on its laurels, and is currently looking to expand into the buzziest contemporary market for processors: cryptocurrency mining.

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Facebook’ s new policy is banning all ads for Bitcoin and cryptocurrency

Facebook is banning all advertisements for cryptocurrency, including Bitcoin and initial coin offerings, as part of an “intentionally broad” policy against deceptive marketers. Product management director Rob Leathern explained the decision in a blog post, saying Facebook will no longer accept ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices.” He says the decision isn’t permanent, though, and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads.

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Why Bitcoin is a currency only for male

Duncan Stewart, director of research at Deloitte Canada, last month noted Google Analytics data showing that almost all – 96.7 per cent – of the visitors to the bitcoin-related Coin Dance website are male. While an unscientific way of measuring the matter, the Coin Dance figures are “backed up by other surveys, attendance at conferences, and my own interviews with millennial investors in North America and Europe,” commented Stewart. “I have been to multiple bitcoin and cryptocurrency conferences, and they have all been around 95 per cent male.”

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Cryptocurrencies in online auction may change art investing

Online auctioneer Paddle8 is trying a new tack: merging with The Native, a Swiss technology and e-commerce company, and adopting the use of blockchain, the technology that underpins virtual currencies like Bitcoin, reports the New York Times.

Paddle8 announced on Tuesday that it had taken an investment from The Native, creating what the two say is a partnership meant to adapt online art sales – and potentially more – to an age of wealthy millennials well versed in virtual currencies.

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Bitcoin: Japan regulators punished Coincheck after $530 million cryptocurrency theft

Japan’s financial regulator has ordered Coincheck to get its act together after hackers stole $530 million worth of digital money from its exchange, jolting the nation’s cryptocurrency market in one of the biggest cyber heists.

The theft highlights the vulnerabilities in trading an asset that global policymakers are struggling to regulate and the broader risks for Japan as it aims to leverage the fintech industry to stimulate economic growth.

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