Daily News Digest Featured News

Monday April 2 2018, Daily News Digest

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News Summary

United States

Facebook to Launch its Own Cryptocurrency with Massive ICO (Finance Magnates), Rated: AAA

An exclusive source has confirmed to Finance Magnates that beleaguered social media giant Facebook is diversifying its product line with a cryptocurrency of its own – Facebook Coin (FBC). Users will have to register to use the coin, but Facebook will guarantee that wallets and transactions will be completely anonymous.

The development has not been officially announced, but reportedly the coin is to be launched on the Ethereum blockchain via an ICO within the next two weeks. Given the size and reach of Facebook, it seems safe to assume that the ICO will rival the 1.2 billion dollars that Telegram raised in its own funding round.

Facebook’s Troubles Underscore Blockchains’ Opportunity (Fortune), Rated: A

Intel Files Patent For Energy-Efficient Bitcoin Mining Hardware (CRN), Rated: AAA

Intel is exploring the creation of specialty hardware for mining the popular cryptocurrency Bitcoin, according to a U.S. patent application released Thursday.

According to its new patent, the Santa Clara, Calif.-based company said it has devised a way to reduce “the space utilized and power consumed by Bitcoin mining hardware.”

The patent, filed on Sept. 23, 2016, describes a Bitcoin mining hardware accelerator that may include a processor core with a hardware accelerator coupled with it.

Coinbase Accountholders Notified (JD Supra), Rated: AAA

On February 23, 2018, Coinbase sent messages to approximately 13,000 of its customers, informing them that information regarding their accounts will be provided to the IRS for tax information purposes in accordance with the United States v. Coinbase, Inc. ruling.

Coinbase congratulated itself on its success in reducing the scope of the IRS summons from the originally sought-after 500,000 customers and far more extensive categories of information.

The IRS initially issued its summons when it realized that only 802 Coinbase customers had declared bitcoin income in 2015. With the significant rise in the value of bitcoin this year, it is very likely that the IRS will continue its search for taxpayers who have failed to report their cryptocurrency transactions – and that its search won’t be limited to those who keep accounts with Coinbase, Inc.

Bitcoin Testing Its February Low Of $ 6,600 (Forbes), Rated: AAA

The latest negative item to hit Bitcoin and pretty much all cryptocurrencies is a report from Nikkei Asian Review via Cointelegraph that two more cryptocurrency exchanges are shutting down, making a total of five since Japan’s Financial Services Authority, or FSA, started stepping up its enforcement activity in the wake of the Coincheck hack in January.
Mr. Exchange and Tokyo GateWay have decided that the regulatory hurdles are too great to stay in business.

Bitcoin
StockCharts.com

Japanese Yen accounts for about 11% to 16% of Bitcoin trades

Bitcoinity tracks Bitcoin price and trading volumes by exchanges and currencies. In the graph below it shows that the Japanese Yen has accounted for a fairly consistent 11% to 16% of Bitcoin trading.

Bitcoin Japanese yen
Source: Bitcoinity

Classic case of more sellers than buyers

Bitcoin trading volume
Source: Bfxdata

Despite Bitcoin’s ‘Sell-Off’ The Cryptocurrency Space Continues To Attract Investors (Forbes), Rated: A

In fact, recent statistics indicate that most people who got into bed with and invested in Bitcoin did so at a significantly higher price than the current market price, which is now well below the $10,000 market. This is a remarkable turnaround.

All of this, however, does not appear to have dampened investors’ drive to be part of the crypto space. Hundreds of millions of dollars in tokens continue to be traded on exchanges. ICOs also continue to rake in the big bucks. Indeed, just three months into 2018 and $4.8 billion in funding has already been raised through various token sales so far.

And, in that vein here are five reasons as to why the crypto space still continues to encourage more investors to participate.

  1. The Promise of Blockchain
  2. Unicorn Potential
  3. Early “In” – Today, ICOs have allowed just about anyone to invest early in new projects. ICOs now generates 3.5 times more capital than VC funding.
  4. Fundamentals Start to Matter
  5. Global Reach

How to mine one million dollars in bitcoin on an $ 800 laptop (Digital Trends), Rated: B

For our tests to figure out how long it might take you to make, say, $1,000,000 in Bitcoin using just a couple laptops, we used user-friendly mining pool NiceHash.

To figure out how long it’d take for us to strike it rich mining with just a laptop, we used an Asus ZenBook UX330UA with an integrated graphics chip. Just in case, we also had a couple others standing by — a Dell Inspiron 15 Gaming, a Dell XPS 13, a Microsoft Surface Pro, and a MacBook Pro 15.

Well, we made about nine cents a day with just one laptop, and with all of them running we made around forty cents a day, give or take, depending on the current price of Bitcoin.

The Lifetime War Between Ripple(XRP) And Litecoin(LTC) Settled (The Independent Republic), Rated: AAA

With much focus on the first ten altcoins, amongst which you will find Ripple in the 3rd position and Litecoin in the 5th position according to coinranking.com, the two altcoins are great competitors.

According to the survey, Millennials said they could invest their $10,000 on the stated most popular coin, where 76% of the millennials said they would invest their $10,000 in Bitcoin and 12% said they would for both Ethereum and Litecoin respectively, leaving Ripple out in the cold.

Looking at the table rank based on market cap, Ripple is the winner, while Litecoin is the runner-up, but there are numbers of other criteria that can also be used to compare both.

Ripple
Source: Wallet Investor.
Litecoin
Source: Wallet Investor.

2 New Platforms Added Ripple This Week (News4c), Rated: B

Uphold is the first platform to make the XRP cryptocurrency accessible in an easy way to investors.

Cryptocurrency Exchange Bittrex Introduces Stable Tether-to-TrueUSD Pairing (Bitcoin Magazine), Rated: A

Bittrex, a U.S.-based cryptocurrency exchange, has issued a trading pair between tether (USDT) and TrueUSD (TUSD), two stable tokens pegged to the U.S. dollar. While tether is issued by Tether, TrueUSD is issued by TrustToken.

College student cryptominers are finding it harder to turn a profit as costs rise, bitcoin falls (CNBC), Rated: A

College students are finding it’s harder to turn a profit by mining cryptocurrencies. Even with universities footing the energy bill, it’s getting more expensive to break into the mining business. Equipment prices are soaring, even as digital currencies fall.

In total, Gilarde said he spent around $4,000 to $5,000 on hardware to build his mining rigs. From the start, he’s been finding ways to stretch his investment.

Here Today, Gone Tomorrow: Crypto Billionaires’ Net Worth Falls By Billions (Forbes), Rated: AAA

Ripple cofounder and executive chairman Chris Larsen, who topped Forbes’ crypto rich list two months ago, has seen the steepest decline in crypto net worth, falling from about $8 billion in late January to roughly $3 billion today, based on his holdings of XRP, the Ripple platform’s native digital currency.

Matt Mellon, an early Ripple investor, has also seen his crypto fortune shrink. It neared $1 billion in January, but the value of those coins hovers between $300 and $400 million today.

Cameron and Tyler Winklevoss, the founders of venture firm Winklevoss Capital and cryptocurrency trading platform Gemini, have watched about one-third of their crypto net worth evaporate over the past two months. Forbes estimates that each has crypto riches worth between $600 and $700 million.

For Ethereum creator Vitalik Buterin, the tumbling value of ether has pulled down his estimated crypto net worth by more than half, to between $100 and $200 million.

Trading Cryptocurrencies Like a Boss Takes Time and Research (Bitcoin.com), Rated: A

Learning to trade can be difficult but there are so many experts in the field and online resources that can teach anyone to trade cryptocurrencies. The first thing to realize is that bitcoin markets or any cryptocurrency markets are very different than your average stock or FX trading arenas. In fact, many people will tell you that traditional technical analysis (TA) will never be accurate when it comes to digital currency markets. However, there are those that use TA regularly to day trade, make a living, and predict the short-term price swings we all know and love.

The first thing a trader should get to know is the most common financial chart used in the cryptocurrency industry which is the candlestick chart.

candlestick chart head n shoulders pattern
Source: Bitcoin.com

One of the biggest indicators in the market many traders utilize is moving average data.

moving average
Source: Bitcoin.com

Another helpful tool used in trading digital assets is the Relative Strength Index (RSI).

Traders use other tools such as Bollinger Bands, Moving Average Convergence/Divergence (MACd), Stochastic, the Detrended oscillator, Fibonacci retracement and so much more. All of these tools and more are combined with plotting chart patterns used by traders flipping cryptocurrencies on the side or for a living. They are also incorporating other methods like Elliott Wave Theory and the tenets of the Dow theory so they can forecast the infamous bitcoin ups and downs in value.

elliot wave sequence
Source: Bitcoin.com

Did Stephen Wolfram’s Knowledge Engine Just Become a Quantum Neural Blockchain AI? (Scientific American), Rated: AAA

“Quantum”

But in any case, in the past 20 years or so there’s been all sorts of nice theoretical work on formulating the idea of quantum circuits and quantum computing. Lots of things have been done with the Wolfram Language, including an ongoing project of ours to produce a definitive symbolic way of representing quantum computations. But so far, all we can ever do is calculate about quantum computations, because the Wolfram Language itself just runs on ordinary, classical computers.

“Neural”

A decade ago computers didn’t have any systematic way to tell whether a picture was of an elephant or a teacup. But in the past five years, thanks to neural networks, this has basically become easy. (Interestingly, the image identifier we made three years ago remains basically state of the art.)

Well, a neural net basically corresponds to a big mathematical function, formed by connecting together lots of smaller functions, each involving a certain number of parameters (“weights”). At the outset, the big function basically just gives random outputs. But the way the function is set up, it’s possible to “train the neural net” by tuning the parameters inside it so that the function will give the outputs one wants.

“Blockchain”

What hashing does is to take some piece of data, like a text string, and make a number (say between 1 and a million) out of it. It does this by “grinding up the data” using some complicated function that always gives the same result for the same input, but will almost always give different results for different inputs. There’s a function called Hash in the Wolfram Language, and for example applying it to the previous paragraph of text gives 8643827914633641131.

“AI”

Most of what’s inside Wolfram|Alpha doesn’t work anything like brains probably do, not least because it’s leveraging the last few hundred years of formalism that our civilization has developed, that allow us to be much more systematic than brains naturally are.

Some of the things modern neural nets do (and, for example, our machine learning system in the Wolfram Language does) perhaps work a little more like brains. But in practice what really seems to make things “seem like AI” is just that they’re operating on the basis of sophisticated computations whose behavior we can’t readily understand.

Reversibility, Irreversibility and More

Reversibility and irreversibility are a strangely common theme, at least between “quantum”, “neural” and “blockchain”. If one ignores measurement, a fundamental feature of quantum mechanics is that it’s reversible. What this means is that if one takes a quantum system, and lets it evolve in time, then whatever comes out one will always, at least in principle, be able to take and run backwards, to precisely reproduce where one started from.

Typical computation isn’t reversible like that. Consider an OR gate, that might be a basic component in a computer. In p OR q, the result will be true if either p or q is true.  But just knowing that the result is “true”, you can’t figure out which of p and q (or both) is true. In other words, the OR operation is irreversible: it doesn’t preserve enough information for you to invert it.

In quantum circuits, one uses gates that, say, take two inputs (say p and q), and give two outputs (say p’ and q’). And from those two outputs one can always uniquely reproduce the two inputs.

Nebulas Launched Mainnet 1.0 at Its New NAS Center in San Francisco on March 29 (PR Newswire), Rated: A

Nebulas Mainnet 1.0 was launched three months after the debut of the Nebulas Testnet (public beta) on December 30, 2017. Developers can now deploy their prototypes on the main Nebulas chain. The core functionalities of the Nebulas Mainnet represent a significant step forward for blockchain ecosystem:

  • Javascript compatible and developer friendly. The Mainnet supports Javascript and TypeScript for smart contract programming. With this, developers can start building on Nebulas at ease. We are also working on other languages, such as Python, Ruby, Java, Node, etc.
  • Significantly improved network propagation. Nebulas implements chunk-based parallel synchronization: Each chunk contains 32 blocks, and 10 chunks are synchronized in parallel. This increases the speed and ease of joining nodes, enabling the network to expand more quickly.
  • Increased transactions-per-second (TPS). The Mainnet’s storage and concurrency mechanisms expand TPS by packaging and verifying multiples transactions in parallel.  Nebulas sets the stage for groundbreaking decentralized apps and mainstream blockchain adoption.

US STATE OF NEVADA’S MOST POPULAR PURCHASE IS THE LEDGER CRYPTO HARDWARE WALLET (Bitcoinist), Rated: A

Price protection application Earny analyzed 100 million purchases between November 2017 and February 2018 concluding the most popular purchase in Nevada was the Ledger Nano cryptocurrency hardware wallet.

Mesa bitcoin trader convicted of money laundering (AZ Central), Rated: B

Thomas Mario Constanzo – known online as “Morpheus Titania” – was arrested in April 2017 and accused of taking nearly $165,000 from undercover agents posing as heroin and cocaine traffickers before exchanging it for the cryptocurrency bitcoin, according to court documents.

A statement from the U.S. Attorney’s Office in Arizona said Constanzo is facing 20 years in prison and a $250,000 fine for each of the five counts. The Justice Department could seize the bitcoin involved in the transactions as part of the sentencing.

International

Cryptocurrency Winners and Losers in March (NewsBTC), Rated: AAA

Top performing cryptocurrencies in March were Tron and Binance Coin. The biggest losers were Neo, Ethereum and Cardano. 

Overall crypto market capitalization has fallen 40% over the month from around $450 billion at the beginning of March to $270 billion at the end of it. Compared to February where markets fell by 9% over the month, March as been far worse and very few cryptocurrencies have ended the month higher than they began it.

Bitcoin has taken a beating in March falling 34% from around $10,600 at the beginning of the month to $7,000 at the end.

Tron is the only coin in the top 15 that has not lost ground in March. Starting out the month at around $0.042 TRX has crept up a percent or two to end it just over $0.043.

Binance Coin has also made marginal moves upwards while all those around it have crashed. BNB started March trading at around $10.50 and ended closer to $10.70 representing a tiny increase. Against BTC is has done even better moving from 101500 satoshis to 151000 at month end, a rise of 48%.

Ethereum has been absolutely crushed in March, starting the month trading around $860 and losing over 50% by the end of it.

Ripple has also taken a heavy beating in March with XRP falling 45% from $0.95 to $0.52 over the past 31 days. Losses against BTC have been lower at 14% falling from around 8700 satoshis to around 7450.

On March 1st BCH was trading at around $1,250, since then it has lost 42% to around $725 where it currently trades.

LTC has fallen from around $205 to $124 in March representing a drop of almost 40%.

Cardano has been one of the top ten’s biggest losers as it was last month with an over 50% drop from $0.30 to $0.15 at the end of the month.

Neo had a reasonable February but a terrible March, falling massively from $130 to $52, almost 60%.

Iota has lost around 41% sliding from $1.95 on March 1st to $1.14 at the end of the month. A 12% slide can be measured against Bitcoin as it fell from around 18500 sats to 16300 throughout the month.

Which Cryptocurrencies Have the Lowest Transaction Fees? (Fox Business), Rated: B

According to data found at BitInfoCharts.com, this was the average transaction fee breakdown for March 26, 2018, presented in order of descending cost:

  • Monero: $2.587
  • Bitcoin: $1.184
  • Dash: $0.363
  • Ethereum: $0.347
  • Litecoin: $0.198
  • Bitcoin Cash: $0.097
  • EOS: $0.0105
  • Ripple: $0.0037
  • TRON: $0.0000901

Binance Preparing to Capture Coinbase Market Share, Coinbase Ready For Battle (cryptovest), Rated: A

Binance has well over 10 million active users and a daily trading volume north of USD$1.7 billion, putting it in elite status as one of the largest cryptocurrency exchanges in the world. While Binance is currently a crypto-to-crypto exchange only, the European island of Malta provides a liberal regulatory policy that has Binance looking to launch a fiat-to-crypto exchange with support from local banks. This will definitely lead to an influx of new users and if the service is competitive enough, Coinbase users may start jumping ship and moving over to Binance for their trading needs.

Coinbase is located in the United States, has over 20 million users, is available in 32 different countries, with over US$150 billion in total trades, and is one of the largest fiat-to-crypto exchanges in the world. GDAX is the advanced trading exchange for Coinbase and average daily volume is USD$ 374 million, which is significantly lower than the volume on Binance.

Bitcoin Exposes Central Banks’ Currency Manipulation and Capital Controls (Bitcoin.com), Rated: A

According to new research by economist Gina Pieters, PhD, presented at the Royal Economic Society’s annual conference in March 2018, Bitcoin provides researchers with the ability to detect central bank manipulations and reveal the existence of capital controls. This can be done by creating an effective rate from many cryptocurrency exchanges to compare deviations from a country’s official fiat currency exchange rate.

Her study explains that the standard data sources used to detect manipulations have several shortcomings: they are expensive to obtain, they can be two or three years old, and, depending on the source, they may be unreliable or infrequent.

The new study looks at a number of cases across the world, but mainly focuses on the currency market in Argentina.

Does blockchain merit a place in construction? (Global Construction), Rated: A

Blockchain can also be implemented to increase transparency within the supply chain by tracking the movement of materials, their quantity, ownership, origin and so forth without manipulation of the records. If a dispute arises within the supply chain as to an items origin or ownership, a blockchain system could trace the materials from their point of origin to current ownership making it easier to resolve the dispute.

Such smart contracts could be expanded upon exponentially within construction contracts to address a number of commercial use cases such as;

  • The automation or semi-automation of applications for payment, payment notices and payless notices and the automatic payment to the supply chain based on certified monies due (think vending machine contract 2.0)
  • Escrow accounts and bond payments that are paid upon contractual conditions being satisfied
  • The issuing of variations and the updating of works programs based on agreed variations or compensation events
  • Automated assignment or novation of construction documents such as professional appointments or warranties.
  • Automated withdrawal of certain privileges such the revocation of a copyright license for the non-payment of fees or the removal of security permissions for site access in the event of termination
  • The submission of claims for relevant events or specified perils based on third party information such as shipping manifests, weather analysis or instructions issued by the contract administrator.

 

A First Look at Peepeth: Ethereum Based Microblogging Service (BTCManager), Rated: B

On March 28, 2018, a Reddit user by the name of r/madame_BOV released a post introducing a new service called Peepeth, a microblogging DApp that is powered by the Ethereum blockchain.

European Union

Vitalik Buterin Contemplating Hard Cap of 120m Ethereum (Finance Magnates), Rated: AAA

Buterin provided some very specific proposals earlier this week that could eventually serve as a more concrete figure. In particular, he proposed a cap at 120,204,432, or exactly twice the amount of ether sold in its original sale in 2014 in a forthcoming software change, per an Ethereum Improvement proposal (EIP).

Since its original issuance, up to 18.0 million Ether are allowed to be issued on a yearly basis, though these terms have not been set in stone. By comparison, only 21.0 million Bitcoins will ever be created.

Russia’s Gazprombank to Test Cryptocurrency Transactions In Switzerland (CCN), Rated: A

Gazprombank, the third-largest bank in Russia, plans to conduct cryptocurrency transactions in Switzerland later this year as part of a pilot program through its Swiss subsidiary.

Triggmine Unveils Revolutionary Email Marketing Tool (Martech Series), Rated: A

Email automation SaaS company Triggmine plans to augment its adaptive email marketing tool with blockchain-enabled Smart Contract and an AI-based neural network. The new features are part of an initiative designed to grow the most intuitive AI tool for small and medium-size businesses on the market.

Audi Is Exploring Blockchain For Its Distributional Network (CoinTelegraph), Rated: B

German Ingolstadt-based car manufacturer Audi is testing Blockchain technology for its physical and financial distribution processing, Cointelegraph auf Deutsch reported today, March 30. With its new solution, Audi aims to increase the security and transparency in its global supply chains.

Exchange Designed to Support Massive Cryptomarket from Broker ExpertOption (Coin Idol), Rated B

ExpertOption has launched a private token pre-sale exclusively for its existing client base giving them a privileged opportunity to be the first investors in its upcoming Crypto Exchange. 

Blockchain Startup Proxeus Adds Prominent Names to Advisory Board (Crowdfund Insider), Rated: B

Swiss Blockchain startup Proxeus has added the first two members of its Advisory Board:  Dr. Christian Katz, former CEO of the SIX Swiss Exchange, and Aaron McDonald, cofounder and CEO of blockchain studio Centrality.

United Kingdom

UK FCA Warns Against Bulgarian Cryptocurrency Derivatives Provider (ETHNews), Rated: AAA

On March 29, 2018, the United Kingdom’s financial markets regulator, the Financial Conduct Authority (FCA), issued a warning about Olsson Capital, an unlicensed foreign exchange and broker of cryptocurrency contracts for differences (CFDs) based in Sofia, Bulgaria.

Startup Pilots Blockchain-Based Platform to Buy/Sell Grain (Ag Professional), Rated: A

Aiming to be an “instant payment system for farmers” GrainChain is targeting September for a pilot launch.

China

Bitmain’s Rumored F3 Miner Potentially Disruptive to Ethereum (CryptoSlate), Rated: AAA

Rumors have surfaced that Bitmain is developing a powerful ASIC that threatens to increase centralization on the Ethereum blockchain.

Mining Ethereum was programmed to be memory bound by design. This design prevents the proliferation of ASICs, as seen on the Bitcoin network, and thereby increases the decentralization and security of the Ethereum network.

The size of the DAG is based on the Ethereum’s current blockchain length and grows in size in proportion to the size of the blockchain. The DAG is regenerated every 30,000 blocks or approximately every five days at current block rates.

As of today, the DAG file is 2.4 GB in size.

According to Bernstein Research, Bitmain made $3 to $4 billion in profit in 2017, more than Nvidia and AMD combined.

According to the Chinese news website, Tech news, the F3 Ethereum miner is said to have 72 GBs of DDR3 memory and has been in production since February.

Chinese Investors Use Wechat Brokers to Bypass ICO Ban (Bitcoin.com), Rated: A

Reports have alleged that many Chinese cryptocurrency investors are seeking middle-men agencies on Wechat to facilitate their transactions in order to bypass the nation’s prohibitive virtual currency regulations and access exposure to initial coin offerings (ICOs).

Dragonsocial, a Hong Kong-based marketing firm that specializes in assisting ICOs to promote their token sales to Chinese investors, has devoted resources to the development of what it describes as “cryptocurrency communities” on Wechat.

China’s New Central Bank Head Is Pro-Market, Could It Impact Cryptocurrency Industry? (CoinTelegraph), Rated: A

Yi Gang, an American-trained economist, has been elected by the Chinese government to take over the People’s Bank of China (PBoC), the country’s central bank, as its head. The election of a pro-market economist could have a positive impact on the cryptocurrency market.

China Isn’t Helping Blockchain, Or Bitcoin (Forbes), Rated: A

“I think that the China news caused traders to dump Bitcoin,” says Naeem Aslam, chief market analyst with ThinkMarkets in London and a Forbes contributor.  “It further reinsured China’s negativity and reluctance in using blockchain-related products. China’s future in blockchain is a haze,” he says.

Danske, Denmark’s largest bank, is also banning crypto trading despite saying it remains optimistic over blockchain, too. The ban, like the China blockchain funding center ban, led to the sell-off late this week, Aslam says.

If there is any silver lining, then this is it: both China and Danske Bank showed willingness and optimism to develop blockchain technologies, the backbone of cryptocurrency.  Although blockchain technologies does not need crypto. Crypto needs the blockchain. Adoption of the blockchain system is better for crypto.

Ontology Announces Release of Open-Source Projects to Encourage Blockchain Technology Development (GlobeNewswire), Rated: B

Ontology, a new generation public blockchain infrastructure project and a distributed trust collaboration platform, officially announced the release of its first open source projects on GitHub, and with it the beginning of the Ontology developer community. Developers across the world are invited to join the Ontology project and together invest in the development of public blockchain infrastructure.

Australia

Booming blockchain expands in Melbourne (Financial Review), Rated: B

Blockchain technology firm Blockchain Tech (BCT) has secured a new office lease at the Salta Properties-owned Nexus Corporate Park in Melbourne.

BCT will pay a net annual rent of $325 a square metre for the 512 sq m office.

Asia

Binance Faces Potential Criminal Investigation in Japan for Operating Without a License (The Merkle), Rated: AAA

Considering that this requirement has been in place for several months now, it seems strange that Binance isn’t even trying to apply for a license. As such, the Japanese financial watchdog has deemed any investor using Binance’s services to be in danger of losing their money due to theft, fraud, and so forth.

Assuming Binance continues to operate without a license, it will become subject to an official criminal investigation. As of right now, Japan’s FSA has made it clear that it will file such charges against any cryptocurrency exchange which continues to operate without a license or any intent of obtaining one.

Huobi Officially Launches in South Korea with 100 Cryptocurrencies (Bitcoin.com), Rated: AAA

Huobi Korea, a subsidiary of the Beijing-based crypto trading service provider Huobi, announced that it has officially launched on March 30.

“Huobi Korea will list 100 coins and 208 markets (33 USDT markets, 98 BTC markets, 77 ETH markets),” Zdnet detailed. The exchange stated that it stores 98% of its customer assets in cold wallets.

The supported cryptocurrencies, according to Huobi, include DAT, DBC, DGD, DTA, EDU, ABT, ACT, ADX, AIDOC, APPC, AST, BAT, BCD, BCH, BCX, BIFI, BLZ, BTC, BTG, BTM, CHAT, CMT, CTXC, CVC, LINK, LSK, LTC, LUN, MANA, MCO, MDS, ICC, IOST, ITC, ICC, IOST, ITO, EKO, ELA, ELF, ENG, EOS, ETC, ETH, EVX, GAS, GNT, GNX, MTP, MTL, MTN, MTX, NAS, NEO, OCN, OMG, ONT, OST, PAY, POWR, PROPY, QASH, QSP, QTUM, QUN, RCN, RDN, REQ, RPX, RUFF, SALT, SBTC, SMT, SNC, SNT, SOC, SRN, STK, STORJ, SWFTC, THETA, TNB, TNT, TOPC, TRX, USDT, UTK, VEN, WAX, WICC, WPR, XEM, XRP, YEE, ZEC, ZIL, ZLA, and ZRX.

Insurance Company Denies Hacked Crypto Exchange’s Damages Claim (CoinTelegraph), Rated: A

Yapian Corp., the operator of twice-hacked crypto exchange Youbit, has been denied their insurance claim of $2.8 mln for last December’s hack of an alleged 17 percent of their assets, the Wall Street Journal reported March 29.

Kazakhstan May Ban Cryptocurrencies Citing Money-Laundering Concerns (CCN), Rated: A

Kazakhstan’s National Bank is considering banning cryptocurrency use, exchanges, and mining, saying virtual currencies are an ideal vehicle for fraud, money-laundering, and tax evasion.

Singapore launches the first blockchain challenge to boost innovation (OpenGov Asia), Rated: B

To boost innovation and adoption of blockchain technology beyond fintech, Singapore’s Infocomm Media Development Authority (IMDA) launched its very first Blockchain Challenge.

LemoChain Enables Businesses to Create Blockchain-Based Data Marketplaces (Business Insider), Rated: B

LemoChain, a company bringing the real-world benefits of blockchain and smart contracts to businesses using a decentralized application infrastructure, is announcing it will hold an Initial Coin Offering for a new cryptocurrency called LEMO, which businesses will use to buy and sell enterprise data.

Latin America

Chilean Banks Deny Service To Cryptocurrency Platforms, Firms Ask For Regulatory Guidance (ETHNews), Rated: AAA

In nine days, BancoEstado – the last Chilean bank supporting cryptocurrency trading platforms – will close the account of cryptocurrency exchange Orionx.

BancoEstado said that it has decided “for now, not to operate with companies that are dedicated to the issuance or creation, brokerage, intermediation or serve as a platform for cryptocurrencies.

Canada

TD Bank Considers Public Blockchain for Asset Tracking (CoinDesk), Rated: AAA

In a patent application published Thursday, TD Bank outlined how it could use a public distributed ledger to help point-of-sale computers track transactions. In the scheme, computers would create blocks of data in which information about the assets being sold, their value in a given currency and the transactions themselves would be stored.

Atlantic

Antigua and Barbuda to Set Up a Cryptocurrency Exchange (Bitcoin.com), Rated: AAA

Trying to cash in on the global fintech wave, Antigua and Barbuda plans to set up its first cryptocurrency exchange. The legislation needed to create the necessary legal framework is to be introduced in parliament shortly, the local Daily Observer reports.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

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Allen Taylor

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