Blockchain Firm Raises $6 Mln From Major Energy Companies, Saudi Aramco Subsidiary

American blockchain startup Data Gumbo Corp. has raised $6 million from major energy companies, including the venture wing of Saudi Arabian national petroleum and natural gas company Saudi Aramco. The news was published by energy-focused news outlet Worldoil on May 8. In a Series A equity funding round, Data Gumbo ostensibly raised $6 million from companies such as Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, a Norwegian multinational energy operator. The new investment purportedly brings Data Gumbo’s total…

SEC and CFTC Aim for Literacy in Digital Assets, Blockchain Analysis

The chairmen of two United States financial regulators, the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) testified before Congress today, May 8. The hearings before the Senate Committee on Appropriations served to inform the Senate on the agencies’ budgetary needs while outlining various objectives and initiatives. In their respective testimonies, SEC Chairman Jay Clayton and CFTC Chairman J. Christopher Giancarlo noted the importance of the agencies becoming literate in digital assets and blockchain technology. As per the Clayton, the Office of Compliance Inspections and Examinations…

Belarussian Exchange to Offer Tokenized Government Bonds

The global exchange website Currency.com has announced that it will be offering a tokenized form of Belarussian government bonds, according to a press release on May 7. According to the press release, users can now use fiat money or cryptocurrencies bitcoin (BTC) and ether (ETH) to invest in and trade Belarussian government bonds. Belarussian-based company Currency Com Bel LLC is reportedly the first organization to tokenize government bonds. As is the case with other cryptocurrencies such as bitcoin, investors will be able to purchase fractional amounts of the new token.…

Major Crypto Traders Meet to Establish Industry Blacklist, Standards

A group major cryptocurrency traders is considering the idea of creating a blacklist of counterparties engaged in nefarious activities in the crypto space, Bloomberg reported on May 8. At a meeting in Chicago on Tuesday, a group of traders from 35 digital assets firms including such industry players as trading firm DRW Holdings Inc.’s Cumberland crypto unit, Mike Novogratz’s Galaxy Digital Holdings, and tech startup Ripple proposed to create a blacklist for parties who reneged on trades and engaged in dubious activities. Some reportedly suggested to create an accreditation for…

Self-Proclaimed Clown John McAfee Offers Cybersecurity Expertise to CZ

By CCN: Binance CEO Changpeng Zhao is receiving support from some of the most unlikely places. John McAfee has extended a helping hand to the beleaguered Binance chief. In a tweet, McAfee relied on a little bit of self-depreciation to charm his Zhao, the latter of whom is learning quickly who his real friends are. McAfee, who is often the brunt of jokes in the crypto industry for his bombastic claims, realizes that $40 million worth of bitcoin stolen is no joke. He stated: “If I can help at all,…

An Ethereum 2.0 Proof-of-Stake Testnet Blockchain Is Now Live

An Ethereum (ETH) 2.0 Proof-of-Stake (PoS) testnet beacon blockchain is now live. Preston Van Loon, co-founder of sharding development firm Prysmatic Labs, announced the development in a Medium post on May 7. Ethereum 2.0 is an upcoming new Ethereum chain featuring improvements in security, scalability, and decentralization. Ethereum 2.0 would not be introduced to the current Ethereum network by means of a hard fork. Instead, users will be able to transfer value from the current Proof-of-Work (PoW) chain via a one-way smart contract. The announcement also notes that shards are…

Joseph Stiglitz Thinks We Should Ban Cryptocurrencies

Most people know who Joesph Stiglitz is. Some know him as the 2001 recipient of the Nobel Memorial Prize in Economic Sciences; others know him as a vocal cryptocurrency bear. This week, Stiglitz is getting a lot of attention for the latter. In a May 6 interview with CNBC, Stiglitz said we should shut down cryptocurrencies. Here’s everything we know. Joseph Stiglitz on Cryptocurrencies: The Latest This week, of course, is not the first time Joseph Stiglitz, 76, has discussed cryptocurrencies in a negative manner. Back in November 2017, Stiglitz…

Malta’s Registry of Companies Set to Run on Blockchain-Based System

Malta’s Registry of Companies is going to be run on a blockchain-powered system, local news outlet the Malta Independent reported on May 8. The Registry of Companies is a public registry holding official information and documentation pertaining to new and existing companies. The agency demerged from the Malta Financial Services Authority’s (MFSA) and established itself as a separate entity at the end of last year. According to the Malta Independent, the new agency will be run on a blockchain-based system. The establishment of a standalone agency aims to strengthen the…

Bitcoin ‘Highly Risky,’ Not a Real Currency: ECB’s Mario Draghi

By CCN: A student asked European Central Bank (ECB) President Mario Draghi about his stance on Bitcoin. Draghi told the student that cryptocurrencies are not currencies, but “highly risky” assets. Mario Draghi: “Who Is Behind the Cryptocurrencies?” Watch again: Mario Draghi answers a student’s question on cryptocurrencies #ECBYouthDialogue #GenerationEuro pic.twitter.com/5VmHr3sxNw — European Central Bank (@ecb) May 8, 2019 The central banker then raised questions about the origins of cryptocurrencies. “Bitcoins or anything like that are not really currencies, they are assets. A euro is a euro – today, tomorrow, in…

Bitcoin ‘Highly Risky,’ Not a Real Currency: ECB’s Mario Draghi

By CCN: A student asked European Central Bank (ECB) President Mario Draghi about his stance on Bitcoin. Draghi told the student that cryptocurrencies are not currencies, but “highly risky” assets. Mario Draghi: “Who Is Behind the Cryptocurrencies?” Watch again: Mario Draghi answers a student’s question on cryptocurrencies #ECBYouthDialogue #GenerationEuro pic.twitter.com/5VmHr3sxNw — European Central Bank (@ecb) May 8, 2019 The central banker then raised questions about the origins of cryptocurrencies. “Bitcoins or anything like that are not really currencies, they are assets. A euro is a euro – today, tomorrow, in…