Extremism and Cryptocurrency: The Story Too Big to Ignore

The payment processing giant Paypal has revealed it has partnered with the nonprofit organization the Anti-Defamation League (ADL). According to the announcement, Paypal is researching transactions settled on the payment network that allegedly fund hate groups and extremism. Paypal to Study Transactions With the Anti-Defamation League A report from Reuters notes that Paypal is studying transactions that involve “extremists” and that fund “hate movements.” The company will investigate and disrupt the financial flows that support specific hate groups and alleged....

Congressman Kevin McCarthy has urged Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell not to ignore bitcoin like they have been trying to do. He believes it is the future, emphasizing, “I do not want America to fall behind” other countries. Government and the Fed Should Not Ignore Bitcoin GOP leader Kevin McCarthy talked about bitcoin in an interview with CNBC last week. Congressman McCarthy serves California’s 23rd district and is currently the Republican leader in the U.S. House of Representatives. He was asked specifically if he thinks that....

David Golumbia, an assistant professor in the Department of English at Virginia Commonwealth University, an aspiring political pundit, and the author of the recently published book, The Politics of Bitcoin: Software as Right-Wing Extremism, denounces Bitcoin in a recent blog post titled Trump, Clinton, and the Electoral Politics of Bitcoin. “[What] concerns me about Bitcoin is how it contributes to the spread of deeply right-wing ideas in economics and political philosophy without those right-wing associations being made at all explicit,” says Golumbia, adding that the freedom and....

Security has been a big concern for cryptocurrency ever since Bitcoin’s creation. Now, in a rapidly growing cryptocurrency industry, security has become too big of an issue to ignore. The growing need security led to the development of enhanced applications like 2-Factor-Authentication to guarantee complete security for companies working in the cryptocurrency ecosystem. Businesses trying to get in the digital currency space now have security as a top priority, and want the best security services the market can offer. Clef, a new semi-decentralized 2-Factor-Authentication application, aims....

Beleaguered Mirror Trading International (MTI) investors have been told to ignore unsolicited offers from individuals claiming to have the ability to trace and recover their missing bitcoins. This warning from the court-appointed liquidators was made after reports emerged that several MTI investors had received such bogus offers from individuals claiming to be agents for cryptocurrency organizations. Fake Agents According to a report, these so-called agents have been asking MTI investors that may be interested in their services to pay them in bitcoins. However, in his warning to investors,....