Day: April 11, 2019

San Francisco-Based Thor Token Project Shuts Down

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San Francisco-based blockchain project Thor Token is shutting down as the project “was not able to gain traction and achieve commercial success.” The news was announced by co-founder and CEO at Thor, David Chin on April 9. Thor — which was built on Neo (NEO) — has announced it is closing its doors as it reportedly could not manage to raise enough capital to come up against the lack of sales, as well as find a new place where it could benefit from more resources. Chin revealed in the post…

VC Firm Ben Franklin Technology Partners Tokenizes Philadelphia Investment Fund

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State-backed venture capital (VC) firm Ben Franklin Technology Partners has rolled out a blockchain-based onboarding and tokenization platform. The development was revealed in a blog post on Thursday, April 11. Ben Franklin Technology Partners is an initiative of the Pennsylvania Department of Community and Economic Development, that has reportedly invested over $200 million into more than 2,000 emerging technology projects in the Philadelphia region. Today, the organization released a blockchain platform for issuing and managing digital securities on the Ethereum (ETH) blockchain, specifically “GO Philly Tokens.” Per the release, the…

These 5 States Are Most Interested in Monero

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US Reps Urge IRS to Clarify Reporting of Crypto Taxes Ahead of April 15 Deadline

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Members of the United States Congress sent a joint request to the Internal Revenue Service (IRS) to provide clarity on reporting crypto taxes, according to an announcement on April 11. 21 different representatives sent a bipartisan letter to the U.S. tax authority requesting guidance on how to report virtual currency taxes. The action took place before the filing deadline for federal income tax returns on April 15, 2019. In the letter, the representatives mentioned the IRS’s previous efforts to establish a tax treatment for virtual assets. The letter noted that…

Top Trump Advisor’s Shocking Claim Proves Why We Need Bitcoin

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Top Trump Advisor’s Shocking Claim Proves Why We Need Bitcoin

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Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. As the Trump administration passes a snowballing debt pile onto Generation Z with self-serving monetary policy, a powerful pro-Bitcoin argument once confined to developing nations is coming home to roost.…

Horizen Labs Raises $4 Million to Build Sidechain-as-a-Service Platform

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Horizen Labs — a tech firm that helps businesses build distributed ledger platforms — has raised $4 million in funding, according to a blog post published on April 11. Horizen Labs initially aimed to raise $2 million in seed funding, but overshot its goal and received $4 million from Digital Currency Group — an institutional trading firm focused on cryptocurrencies, seed stage fund Liberty City Ventures, and other independent investors. The company intends to develop sidechain-as-a-service products. Sidechains can be deployed to handle commercial blockchain usage, performing various tasks distributed…

Crypto Exchange Bithumb Posts $180 Million Loss for 2018

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Bithumb, South Korea’s largest cryptocurrency exchange, has posted a net loss of 205.5 billion won ($180 million) for 2018. CoinDesk Korea reported the news on Thursday, saying that the loss was mainly due to a sharp decline in the cryptocurrency market last year, though the company’s operator BTCKorea also cited infrastructure investments and labor costs as factors. The figure marks a big swing into the red for Bithumb, having recorded a net profit of 534.9 billion won ($469 million) in 2017. The exchange’s revenues, on the other hand, grew around…

Bitcoin Miner Recounts Struggle to Obtain Cheap Iranian Power

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Over the last six months, reports of Chinese miners crossing the border to obtain cheap electricity from regions like Vietnam, Cambodia, Thailand, and Iran have abounded. According to a recent interview, Chinese miners have found extremely affordable electric prices ($0.006 per kilowatt-hour) in the oil-rich nation of Iran. However, managing to get thousands of machines over the Iranian border has proven to be far more difficult. Also read: Last Will Platform Allows Your Loved Ones to Inherit Your BCH Iran Offers Cheap Electricity But Setting up a Mining Facility Isn’t…

US Startup Raises $14.1 Mln for Blockchain-Based Payments Network for Retailers

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New York-based blockchain startup Flexa has raised $14.1 million to develop a payments network for retailers. The development was announced in a press release published on April 11. Per the release, Flexa has raised $14.1 million in funding from such participants as early stage token fund 1kx, investment firms Access Ventures and Nima Capital, and hedge fund Pantera Capital, which recently revealed that it was close to completing funding for its third venture fund, already raising $160 million. The company intends to create a payment network for retailers that would…