Business

Seed CX Shuts its Exchange to Focus on Settlements

[ad_1] U.S.-based crypto exchange Seed CX is shutting down to focus on its settlement infrastructure. According to a Seed CX company blog posted June 11 by CEO Edward Woodford, its settlement arm Zero Hash now accounts for 95% of the company’s revenue.“As we begin to look beyond just profitability to realizing our ambition of becoming the leading digital asset settlement infrastructure, we have to become more focused,” wrote Woodford.“Candidly, offering an
Business

Tiny Tax Haven Accounts for $36B of Cross-Border BTC Transactions

[ad_1] Seychelles-based exchanges led the world in cross-border Bitcoin (BTC) transactions in 2019. What Switzerland is to the world of watchmaking, Seychelles is to the world of crypto exchanges.The small island nation with a total population of less than 100,000, presents a perfect playground for the enterprises that are looking for a place that allows them to optimize their tax liabilities with regulators who operate with a light touch.U.S. comes
EXCHANGES

Ethereum incident caused $ 2.6 million Transaction fees

[ad_1] On June 10, an unknown Ethereum user sent $ 130 worth of ether. What looks like a typical transfer resulted in transaction fees of 10,668 ether. That corresponds to the equivalent of $ 2.6 million. The user currently has 32,000 ether worth almost eight million US dollars on his address. This incident caused ongoing conversation and confusion in the community. A presumption suggested that it was a form of money laundering that the perpetrator
Business

Celsius Network Sells Two-Thirds of $15m Equity Offering on First Day

[ad_1] Pioneering decentralized finance (DeFi) application Celsius Network has launched an equity offering through Bnktothefuture.As of this writing, the campaign has raised over $10.7 million of the $15 million maximum, and has surpassed its minimum investment goal of $10.5 million. Thirty-nine investors have participated so far, with 44 days remaining on the raise.The minimum investment in Celsius’ equity fundraising round is $1,000. The round is open to both U.S. and international
BLOCKCHAIN

India’s ‘Crypto Spring’ as Wave of New Exchanges Launch

[ad_1] The repeal of the Reserve Bank of India’s (RBI) crypto ban has driven a boom in exchanges launching in India, offering hope that the growth of a robust local industry will incentivize lawmakers to maintain India’s permissive regulatory apparatus.In March, India’s Supreme Court repealed the Reserve Bank of India’s (RBI) ban on financial institutions providing banking service to businesses operating with virtual currencies — legitimizing India’s cryptocurrency firms.In recent
EXCHANGES

Here’s Why Ethereum Is a Poor Investment According to Fund Managers

[ad_1] The past few months have seen investment demand for Ethereum increase strongly. Nothing shows this as well as Grayscale’s Ethereum Trust, a regulated and publicly-tradable investment vehicle that is backed by ETH. A share of the trust, which corresponds with 0.094 ETH, reached a value of $239.50 last week on secondary markets. This means that investors in the shares were buying exposure to the cryptocurrency at a 1,000% premium.
BLOCKCHAIN

Gemini Appoints New Asia-Pacific MD, Sets Sights on Singapore Expansion

[ad_1] The Gemini cryptocurrency exchange is expanding further into Asia with the appointment of former Leonteq Asia CEO Jeremy Ng as Managing Director of Asia Pacific region.The move sets the Winklevoss twins’ exchange up to apply for a license under Singapore’s 2019 Payment Services Act, which requires at least one director to be a Singapore citizen or permanent resident.Ng will oversee the overall strategy and build a team in the
Business

500 Estonian Crypto Companies Lose Permits After $220B Scandal

[ad_1] Estonia, one of the European Union’s most crypto-friendly countries, is cracking down on hundreds of licensed crypto companies in response to a $220 billion money laundering scandal, according to Bloomberg. Estonia was among the first EU countries to license crypto companies but has been forced to clamp down after hundreds of billions of dollars of dirty money was detected in the Estonian unit of Denmark’s largest lender Danske Bank A/S.
Business

The DeFi Debate Is On for Blockdown Next Week

[ad_1] In the clash of ideas between centralized and decentralized finance, is one better than the other, or do they both need each other?The latest months of global quarantine have been nothing less than a renaissance for online events across spheres. This has been especially true for the technologically adept blockchain community. While crypto crews have been sailing from one event to another, the next big virtual conference on everyone’s
Business

3 On-Chain Metrics Crypto Investors Use to Track Bitcoin Network Activity

[ad_1] The public nature of blockchains continuously generates an endless stream of data, as every single transaction and address leaves a clear trace. This information, known as on-chain data, provides a way to precisely analyze cryptocurrency network activity. Some on-chain indicators such as the number of active addresses, HODL wave, and hashrate have become well known in the industry, but the general public is really only scratching its surface.As the number