Day: September 25, 2018

Andreessen Horowitz’s $300m Crypto Fund Buys Stakes in Stablecoin Project

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An upcoming stable coin project featuring a loaning system has bagged a $15 million investment from Andreessen Horowitz. VC Firm to Govern MakerDAO The venture capital firm, with a history of high profile investments into crypto projects, bought 6 percent of the total MKR supply through its $300m crypto fund, a16z crypto. By doing so, the US firm has got the rights to govern the Maker network, which includes MakerDAO, the stable coin firm, and the Dai Credit System as it becomes the first DAO-enabled stable coin project. The investment…

Mt. Gox Trustee Publishes Final Bitcoin Sell-Off Figures Totalling $230 Million

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Nobuaki Kobayashi, the trustee of defunct cryptocurrency exchange Mt.Gox, released a new statement Tuesday, September 25. According to the document, Kobayashi has liquidated almost 26 billion yen ($230 million) in Bitcoin and Bitcoin Cash in around four months. Kobayashi, who is known as the “Tokyo Whale” due to the multiple rounds of cryptocurrency sell-offs he has undertaken on behalf of Mt.Gox since Q3 2017, stated he had sold 24,658 BTC and 25,331 BCH. The transactions occurred “during the period from the 10th creditors’ meeting in the Bankruptcy Proceedings (i.e., from…

JPMorgan Blockchain Platform Onboards 75 Multinational Banks to ‘Keep Payments In-House’

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JPMorgan has expanded its blockchain payment platform to over 75 multinational banks. The goal of the participants’ combined efforts is to fight off competition from outside of the banking sector, Financial Times reports September 25. Speaking to the publication, analyst Jason Goldberg said the Interbank Information Network (IIN), under development since October 2017 on JPMorgan’s own Quorum blockchain, was already seeing progress. Now, Societe Generale and Santander are among the major institutions looking to adopt the platform, which allows banks to share payment information and speed up problematic transactions. By…

Crypto Markets Continue to See Red, XRP and ETH Tumble

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Tuesday, September 25: amid a market-wide tumble, Ripple (XRP) and Ethereum (ETH) are seeing another day of steep losses. Both coins are shedding percentage value in the double-digits, as data from Coin360 shows. Market visualization by Coin360 While Ethereum has now reclaimed its established ranking as second-largest coin by market cap on CoinMarketCap – which it briefly ceded to a soaring Ripple on September 21. The altcoin has today seen a 10.4 percent loss to trade at $209 to press time. After soaring as high as $250 on September 22,…

Mt Gox Trustee Has Sold $230 Million in Bitcoin, Bitcoin Cash Since March

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The trustee for the now-defunct cryptocurrency exchange Mt. Gox has revealed new details about the pace of cryptocurrency sales as part of the firm’s bankruptcy and rehabilitation process. Attorney Nobuaki Kobayashi explained in a September 25 notice on the Mt. Gox website that over $230 million dollar’s worth of bitcoin (BTC) and bitcoin cash (BCH) had been exchanged for fiat currency between March 18 and the start of civil rehabilitation on June 22. According to the notice, the trustee sold 24,658.00762 BTC and 25,331.00761 BCH – quantities that brought in 25,975,702,352…

CoinCapital’s Two New ETF’s To Introduce Canadian Investors To Innovations In Blockchain And Cryptocurrency

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CoinCapital, AKA Coin Capital Investment Management is planning to launch two exchange-traded funds (ETFs) for trading on the Toronto Stock Exchange. Incidentally, this is the first time that the portfolio investment management unit of Canada’s virtual currency exchange operator is launching an ETF. CoinCapital is the subsidiary of Coinsquare, registered recently at the Ontario Securities Commission. CoinCapital representative to ring the bell at TSE The Toronto Stock Exchange will offer Coinsquare representatives the honor of ringing the bell. Coincapital is the newest exchange-traded fund provider of the country. It is…

Operator of Hacked Crypto Exchange Zaif Gets Third Warning From Japan’s Watchdog

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Japan’s Financial Services Agency (FSA) has issued a third business improvement order to the owner of hacked crypto exchange Zaif, Tech Bureau. The news was reported by Cointelegraph Japan today, September 25. As previously reported, as a result of a security breach on the Zaif exchange September 14, hackers succeeded in stealing 6.7 billion yen ($59.7 million) worth of crypto assets belonging to both users and to the exchange itself. The Financial Services Agency had already ordered Tech Bureau to make business improvements first in March, and subsequently in June…

India Supreme Court Examines Last Petitions Against Central Bank Crypto Ban

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India’s Supreme Court will listen to the final round of petitions against the country’s central bank banning cryptocurrency dealings. The hearing is set to happen today, September 25, local news outlet Financial Express reports. The latest step in a lengthy process since the Reserve Bank of India (RBI) announced the ban in April, multiple appeals have surfaced in the last two months, these stemming from sources throughout the local cryptocurrency industry and beyond. The ban has officially been in force since July 6, Cointelegraph reporting the original deadline for the…

Mt. Gox Trustee Confirms Past Bitcoin Sell-Off

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Bitcoin investors who have dutifully monitored cryptocurrency wallets associated with defunct bitcoin exchange Mt. Gox for early warnings of a possible sell-off have been proven justified in their paranoia. Mt. Gox Trustee Confirms $230 Million Bitcoin Sale According to a document published on the Mt. Gox website, Nobuaki Kobayashi, the exchange operator’s trustee, sold approximately 24,658 BTC and 25,331 BCH between the last creditor’s meeting on March 7 and the June 22 court ruling allowing the estate to exit bankruptcy and enter civil rehabilitation. Altogether, the estate garnered just under…

China’s Blockchain Firm, NEO Global Capital Seals a Partnership With Promising Entertainment Blockchain Muzika

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NEO is one of the largest holders of cryptocurrency in the Asia Pacific Region and the strategic masterpiece of China’s Neo foundation. The main objective of the blockchain mogul is to disrupt existing business models and inspire wide adoption of Blockchain technology across industries. It is upon this typical setting that Neo foundation decided to sign an investment deal with Muzika, a Korean based music company that has attracted the interest of a number of investors. Decentralised Applications Neo foundation is based upon a similar competing edge with Ethereum. The…