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Showing posts from April, 2020

Digital Currency Group

Founded by Barry Silbert in 2015, Digital Currency Group (DCG) is a venture capital firm that invests solely in the digital currency industry. Digital Currency Group has three subsidiaries: CoinDesk, which was purchased in January 2016, digital currency brokerage firm Genesis Trading and digital asset management firm Grayscale Investments.  Headquartered in New York City, DCG […] from Search Results for “ripple” – CoinDesk https://ift.tt/2WgaZIG
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Japan Implements Significant Changes to Cryptocurrency Regulation Today

Major changes are happening in the cryptocurrency space in Japan as new cryptocurrency regulation enters into force today. Among notable changes are the regulation of crypto custody service providers and crypto derivatives businesses. Japan has 23 regulated crypto exchanges; unregulated platforms have modified their terms of service affecting Japanese residents. Japan Adopts New Way to Regulate Crypto Industry The amendments to the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA) that revise the regulatory framework for cryptocurrency in Japan go into effect on May 1. They were proposed by the country’s top financial regulator, the Financial Services Agency (FSA), and adopted by the Diet on May 31 last year. The finalized rules were published on April 3 along with the FSA’s answers to public comments. International law firm Morrison & Foerster described: The regulations coming into effect as of May 1, 2020, represent a significant change in the
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Justin Amash Reveals Third-Party Presidential Bid: Pro-Bitcoin Libertarian Candidate Targets Trump’s Seat

U.S. President Donald Trump now has an unexpected challenger as the independent congressman from Michigan, Justin Amash, says he plans to run as a Libertarian candidate in the 2020 election. Besides John McAfee and Adam Kokesh, Amash is also a pro-crypto candidate, a believer in free markets, and has spoken positively about bitcoin seven years ago. Is Trump’s Future Threatened by a Libertarian Candidate? Justin Amash is pushing toward a third-party run for the President of the United States in 2020. Many believe Amash could add some heat to the presidential race by taking votes away from both the Democrat Joe Biden and Republican President Trump. After the popular candidate Andrew Yang left, there were only two candidates remaining who support cryptocurrencies; John McAfee and Adam Kokesh . However, with Amash running it would add another person who thinks positively about bitcoin and blockchain solutions. Amash is also well known for his staunch views toward upholding the U.S. co
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Telegram to Pay Back Investors 110% After Gram Token Launch Fails – Again

Telegram has offered to refund investors after its scheduled release of the Gram token failed – again – due to regulatory complications. Investors will immediately receive 72% of their stakes, as first option, or 110% if they choose to wait another year. The second option may be paid in another cryptocurrency in the Telegram messaging application, with an additional 10% bonus. The social network raised $1.7 billion in an ICO in 2018, promising investors the token Gram in return. Telegram made legal undertakings that it would deliver the cryptocurrency to investors initially by Oct. 31, 2019, or give back the money. The latest deadline for the launch of the Telegram Open Network (TON), the decentralized network supporting Gram, is today, April 30. But in the period since its fund-raising, the company has faced serious legal challenges. The U.S Securities and Exchange Commission (SEC) wants the Gram project stopped because of alleged illegal activity by the Telegram development team.
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Digital Currency Group

Founded by Barry Silbert in 2015, Digital Currency Group (DCG) is a venture capital firm that invests solely in the digital currency industry. Digital Currency Group has three subsidiaries: CoinDesk, which was purchased in January 2016, digital currency brokerage firm Genesis Trading and digital asset management firm Grayscale Investments.  Headquartered in New York City, DCG […] from Search Results for “ripple” – CoinDesk https://ift.tt/2WgaZIG
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Cryptocurrency Trading Surges in Malaysia as Lockdown Cripples Economy

Cryptocurrency trading in Malaysia has surged as the country endures an extended lockdown, costing its economy an estimated $550 million a day. Regulated cryptocurrency exchanges are reporting substantial growth in trading volumes and new users as people seek “a good store of value in difficult economic times.” Increased Crypto Trading Volumes and New Users Interest in cryptocurrency has grown significantly in Malaysia amid the extended lockdown restricting travel and nonessential businesses. The country estimates that 2.4 billion ringgit ($553 million) are lost each day that businesses remain shut due to the coronavirus pandemic. Despite the worldwide economic crisis, cryptocurrency trading in Malaysia has shown strong growth, according to two government-approved crypto exchanges. Luno, Malaysia’s first fully approved digital asset exchange, told The Malaysian Reserve publication that local trading volumes on its platform grew 33% over the past four weeks. Luno Malaysia manager A
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Drawbacks of Cryptocurrency Exchanges – How Non-Custodial Services Are the Solution

Cryptocurrency exchanges are online platforms where one can buy, sell, or trade cryptocurrencies. The aim of crypto exchanges is to connect buyers and sellers by creating a cycle of supply and demand in one place. Centralized vs Decentralized Exchanges However, almost every exchange is prone to hacking, has privacy issues, and users could end up losing their funds. Non-custodial exchange services look to overcome these shortcomings of cryptocurrency exchanges. Online cryptocurrency exchanges can be categorized into two types: centralized and decentralized. Centralized exchanges allow you to sign up with your email and password and usually have extra security features like two-step authentication or email verification. Even though they make it easier for everyday users to buy and sell digital assets with their interactive interface, one major downside of such exchanges is that they do not give users full control of their cryptocurrencies. The private keys of your wallets are held
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Switzerland’s Famed “Crypto Valley” Seeks $103 Million Government Bailout

Switzerland’s “crypto valley” is asking the government for 100 million Swiss francs ($102.7 million) in funding, local media reported. The once flourishing Swiss cryptocurrency industry is struggling to survive following the withdrawal of private equity investors. About 80% of 203 firms surveyed by the Swiss Blockchain Federation recently warned of imminent bankruptcy. Only half of the 50 biggest companies in crypto valley expect to last a year in business. Now, the industry is turning to government, requesting for a fund that is expected to draw on federal guarantees, local government and private investments, according to Zug finance director Heinz Taennler. The celebrated blockchain hub is located in Zug and other towns of Switzerland and Liechtenstein. Taennler noted that the 154 million francs credit facility for startups recently announced by the Swiss government will not be enough for the cryptocurrency sector’s ambitious financing needs. He wants a separate, dedicated fu
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CoinEx Announces Global Strategic Partnership with Matrixport to Provide Over-the-counter Service

Hong Kong, 27 April, 2020 – CoinEx , a global and professional cryptocurrency exchange service provider, is pleased to announce its new global strategic partnership with Matrixport, the one-stop digital asset financial service platform span off from Bitmain. This partnership allows CoinEx ‘s users to access Martrixport’s over-the-counter (OTC) service when they are in need of exchanging sizable fiat to crypto. “ CoinEx ’s users around the world will benefit from this strategic partnership as the OTC service makes transfers between fiat and crypto more convenient. Matrixport has the potential to become a key player in the industry and I look forward to a long-term partnership between us,” said Haipo Yang, Founder and CEO of CoinEx . Headquartered in Singapore, Matrixport was established in February 2019 and it now provides a wide range of services such as crypto trading, custody, lending and asset management. CoinEx has also been using its Cactus Custody service since 2019 to ensur
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Grayscale Buys 50% of All Ethereum Mined in 2020

Digital asset manager Grayscale Investments bought about 50% of all newly mined ethereum so far this year. It now holds the equivalent of 1.1% of ETH in circulation, according to a post on Reddit . Grayscale operates 10 cryptocurrency investment products focused on institutional investors. As of April 24, the company had $2.7 billion worth of digital assets under management. The Ethereum Trust accounts for $234.7 million of investments while more than $2.3 billion are held in the Bitcoin Trust. Other funds cover BCH , zcash, XRP , and more. As per the post , Grayscale bought 756,539 ETH since the beginning of this year. That’s 48.4% of all coins extracted since the start of 2020. In total, 1,563,245 ether have been mined during this period. The Redditor opined: Given the recent increase in investments, this percentage could be much larger in the future. Grayscale has been aggressively stockpiling ethereum. The cryptocurrency asset manager reported that its ETH inflows reached
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The Greatest Wealth Transfer: Economists Predict the Emergence of New Bitcoin Millionaires, BTC Capturing 3% of Gold Market

The global economy has been feeling the hardships from the mandated lockdowns various nation states have implemented during the last month and a half. Oil prices have dropped below zero for the first time in history, and economic powerhouses like the U.S. are starting to show cracks in the system. Despite the souring economy, a number of analysts and economists predict that bitcoin and the crypto economy will rise triumphantly and bring a new class of millionaires. Industry Shutdowns, Supply Chains In Disarray, Food Shortages, and Rising Prices The global economy is not looking so good and it could get worse due to the ongoing industry lockdowns and stay-at-home orders worldwide. Despite the overly exaggerated graphs and charts showing the predicted mortality rate, the surge toward healthcare in the United States never really materialized . Medical professionals have been speaking out against the lockdowns and stay-at-home orders, but government officials across the nation have bee
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Metaverse Dualchain Network Architecture (DNA) Continues Global Expansion and Announces a Successful First Quarter in 2020

April 27th, 2020, Toronto, Canada – The Metaverse DNA global team reported significant progress on the DNA (Dualchain Network Architecture) Blockchain initiative during the month of March, closing the first quarter of 2020 with great results. The DNA token is now listed on 14 crypto exchanges, Metaverse DNA CEO Eric Gu participated in many online interviews from notable media outlets, and the supernode voting process continued to run smoothly with over 11.2 billion votes in the latest round – marking new record highs. The DNA Chain built by Metaverse is a next-generation scalable and interoperable decentralized ecosystem, empowering users and enterprises with an array of features like near-instant transactions, on-chain identity, oracles and robust security. Interviews, AMAs & Online Promotional Activities During the month of March, Metaverse DNA CEO Eric Gu participated in 5 online interviews to discuss Metaverse DNA and share his insights on blockchain technology. These onlin
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