Day: January 18, 2019

Blockchain Featured in Big Four Firm Deloitte’s Annual Tech Trends Report

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Blockchain is featured as a disrupting technology in the Tech Trends 2019 report published by Big Four audit and consulting firm Deloitte on Jan. 16. According to one article in the report, “[a]dvanced networking is the unsung hero of our digital future,” and blockchain is cited as a part of it. The report — which mentions blockchain 25 times — notes that blockchain is among the technologies the importance of which is growing rapidly and still on its path towards mass adoption. The report also cites a International Data Corporation’s…

Bearish Crypto Market Claims Another Victim in Mining Space

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The long-running bearish sentiment of cryptocurrency market has claimed another victim. Giga Watt, a US-based Bitcoin mining firm, sent an email to its customers, stating that it has decided to close down operations. The company clarified that it had lost access and power to its mining facilities because it didn’t have adequate funds to continue the mining services. The email came two months after Giga Watt filed for Chapter 11 bankruptcy. In November 2o18, the company had admitted losing a massive chunk of their revenue to the bearish crypto market. A…

Malaysia Develops Harsh Regulation Alongside With Positives Attitudes Toward Crypto

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Cryptocurrency exchanges and blockchain-based companies in Malaysia face some testing times following regulatory changes in the country. As of Tuesday, Jan. 15, new regulations governing cryptocurrencies have come into effect in Malaysia. According to reports, the new regulation has classified cryptocurrencies, tokens and crypto assets as securities, which means they are now under the jurisdiction of the Malaysian Securities Commission. In accordance with the change, any unauthorized cryptocurrency exchanges or initial coin offering (ICO) could face a 10-year jail sentence and fines to the tune of $2.4 million. While the…

Crypto VC Firm Seeking $60M Amid Bitcoin Rout: Good Sign?

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It goes without saying that 2018’s bear season savaged the broader crypto industry. Investors lost faith, Wall Street seemingly pulled out, and entire startups collapsed as financial pressure mounted, catalyzed by a collapse of the Bitcoin price. Yet, ambitious venture groups continue to seek financiers en-masse, as arguably, bear markets are an optimal time for “buying the dip.” Pro-Bitcoin 1confirmation Seeking $60M For New Crypto Fund On Thursday, the Wall Street Journal’s “Venture Capital” column revealed that San Francisco-headquartered 1confirmation, supposedly one of the first crypto-dedicated venture groups, is looking…

Who’s Left, Joined and Almost Joined Coinbase Since Its $300 Million Raise

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Crypto exchange startup Coinbase is a hot place to work – and undoubtedly a coveted resume destination for technologists looking to advance their careers in Silicon Valley. One of the cryptocurrency industry’s few unicorns – or companies with a valuation over $1 billion (Coinbase was valued at $8 billion in its last $300 million funding round in October 2018) – the San Francisco-based exchange has nearly 800 staff members and is adding “dozens of employees each week,” spokesperson Rachael Horwitz told CoinDesk. This aggressive expansion has included opening an office in New…

Who’s Left, Joined and Almost Joined Coinbase Since Its $300 Million Raise

boss

Crypto exchange startup Coinbase is a hot place to work – and undoubtedly a coveted resume destination for technologists looking to advance their careers in Silicon Valley. One of the cryptocurrency industry’s few unicorns – or companies with a valuation over $1 billion (Coinbase was valued at $8 billion in its last $300 million funding round in October 2018) – the San Francisco-based exchange has nearly 800 staff members and is adding “dozens of employees each week,” spokesperson Rachael Horwitz told CoinDesk. This aggressive expansion has included opening an office in New…

Thai Stock Exchange Plans to Launch a Token Trading Platform

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The Stock Exchange of Thailand (SET) is looking to capitalize on investor interest in cryptos by offering a new digital assets exchange. According to a report from Bangkok Post on Thursday, the SET is planning to apply for a license from the country’s Ministry of Finance to operate the platform. The move comes as the exchange looks to capture the growing investor demand for cryptos, Pattera Dilokrungthirapop, vice-chairwoman of the SET board of governors, said in the report. The stock exchange will work to have a sound technical system in…

Chip Making Giant TSMC Reports Significant Drop in Crypto Mining Revenue

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Chip manufacturing giant Taiwan Semiconductor Manufacturing (TSMC) reported a sizeable drop in its crypto mining-related revenue in 2018. The news was revealed in the company’s Q4 2018 financial results, published Jan. 17, together with an earnings call transcript. TSMC has not disclosed specific data for its crypto mining business — including it instead within its high-performance computing (HPC) segment. In the earnings call transcript, TSMC CEO & Vice Chairman C.C. Wei revealed that whereas HPC, excluding crypto, had grown slightly: “[C]ryptocurrency is a big drop from 2018 to 2019. So…

Bitcoin and Ether Market Update: January 18, 2019

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The major cryptocurrencies are in green for the last 24 hours as market capitalization still holds above $122 billion at the time of press. BTC/USD Bitcoin closed the January 16 trading session with a little more than a $20 price increase and did not allow further decline below $3,600. The mentioned level now represents a stable support threshold for bulls to hold. The BTC/USD pair increased gains on January 17 and moved north to $3,720. Malta-based crypto exchange Binance will expand to European markets by launching a new crypto-to-fiat platform…

Law Enforcement Requests to Shapeshift Rose 175% in Second Half of 2018

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Law enforcement requests sent to Switzerland-based cryptocurrency exchange ShapeShift rose 175 percent in the second half of 2018, according to a new Compliance Transparency report published by the exchange Jan. 18. In a blog post accompanying the report, Shapeshift outlines that it typically receives requests from law enforcement agencies for data including crypto addresses (in or out of the Shapeshift system), transaction IDs, identity information (names, emails, IP addresses), cryptocurrency or crypto asset information and more. ShapeShift emphasizes that in most cases it is not informed of the details of…