BLOCKCHAIN

Fortress Offers to Buy Mt. Gox Bitcoin Claims at $900 a Piece

[ad_1] Fortress Investment Group is buying bitcoin (BTC) claims from Mt. Gox creditors, according to a report by CoinDesk on July 8.The Japan-based cryptocurrency exchange Mt. Gox filed for bankruptcy in 2014 after losing $473 million worth of bitcoin at the time due to an apparent hack. Bitcoin reportedly experienced a subsequent decline in value, dropping by 36% over the month when this took place.As per the report, Fortress executive
BLOCKCHAIN

Grayscale Investments Resumes Private Placement of Bitcoin Trust Shares

[ad_1] Grayscale Investments has resumed private placement of Grayscale Bitcoin Trust (GBTC) shares, according to a press release on July 8.According to the announcement, the private placement of GBTC shares is offered periodically to accredited investors — as defined in Rule 501(a) of Regulation D under the Securities Act — for daily subscription. As per the report, the GBTC shares are designed to let investors put money into bitcoin (BTC) via
BLOCKCHAIN

Blockchain Supply Chain Market to Reach Over $9B by 2025

[ad_1] The global blockchain supply chain market is expected to reach over $9 billion by 2025, according to a study published by market research and consulting firm Allied Market Research (AMR) on July 8.AMR estimates that the global blockchain supply chain market will amount to $9.85 billion by 2025, showing an 80.2% surge of the compound annual growth rate (CAGR) from 2018 to 2025. Among the key driving factors, AMR
BLOCKCHAIN

US SEC and FINRA Issue Statement on Crypto Custody Issues

[ad_1] The United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) outlined regulatory compliance issues for cryptocurrency custodians in an announcement on July 8.According to the joint statement, the organizations have yet to discover a set of circumstances in which a crypto custodian could comply with the SEC’s Customer Protection Rule, which is described as follows:“Put simply, the Customer Protection Rule requires broker-dealers to safeguard
REVIEWS

Bitfinex to Use 27% of Tokinex Revenue to Burn LEO Tokens

[ad_1] Bitfinex cryptocurrency exchange announced that it will spend 27% of past and future Tokinex revenue on burning LEO tokens, according to an official blog post on July 8.Bitfinex unveiled LEO in May as the native utility token for its initial exchange offering (IEO) platform Tokinex. Parent company iFinex committed to burning LEO tokens, until commercial circulation runs dry, in the LEO token whitepaper:“On a monthly basis, iFinex and its
EXCHANGES

Was Benjamin Franklin The Bitcoin Miner Of His Day?

[ad_1] Bitcoin has since inception, had the potential to revolutionize money and the world economy. But haven’t we seen all this before? A new article suggests that Benjamin Franklin was doing the equivalent over 250 years ago. The First Bitcoin Revolution Of course, 250 years ago, Bitcoin was still just a twinkle in (Dr) Craig Wright’s ancestor’s eye… Just kidding. But, the America of 250 years ago was heading for a
BLOCKCHAIN

Brazil Requires New Diplomats to Know About Blockchain and Crypto

[ad_1] The Brazilian diplomatic academy, the Rio Branco Institute, will now require that candidates have knowledge of cryptocurrencies and blockchain, Cointelegraph Brazil reported on July 8.The Rio Branco Institute — established in 1945 and offering two advancement courses for diplomats — has published the 2019 edict for the selection of new diplomats in Brazil where it included the requirement that candidates know about blockchain and digital currencies.As the publication highlights,
Business

Indian Authorities Express Concerns Over Facebook’s Libra

[ad_1] India’s authorities have expressed concern over Facebook’s forthcoming stablecoin Libra, Bloomberg reported on July 8.Subhash Garg, Economic Affairs Secretary at India’s Ministry of Finance, told Bloomberg that the “design of the Facebook currency has not been fully explained. But whatever it is, it would be a private cryptocurrency and that’s not something we have been comfortable with.”Facebook’s Libra is set to be a stablecoin pegged to a reserve of
EXCHANGES

Ex-Bitmain CEO Launches New Crypto Firm

[ad_1] Based on a recent report, Wu Jihan, the former CEO and co-founder of Bitmain, the largest bitcoin (BTC) mining hardware providers have now unveiled a crypto trading platform with over-the-counter (OTC) trading, custody, and lending feature. The startup which is referred to as Matrixport is located in Singapore and has reportedly employed many of Bitmain’s former staffs which were previously sacked due to the bearish nature of the market in
BLOCKCHAIN

China’s Central Bank Developing Own Digital Currency in Response to Libra

[ad_1] China’s central bank is reportedly developing its own digital currency in response to Facebook’s Libra as the latter could purportedly pose a risk to the country’s financial system, the South China Morning Post reported on July 8.Wang Xin, director of the People’s Bank of China (PBoC) research bureau, argued that “if [Libra] is widely used for payments, cross-border payments in particular, would it be able to function like money