Day: July 1, 2019

Blockchain Venture Capital Funding Reaches $822 Million in 2019

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Leading blockchain and Web 3.0 venture capital firm Outlier Ventures today published its State of Blockchains Q2 report providing an overview of blockchain investment and market trends in 2019. According to the report, blockchain start-ups raised $822 Million from 279 separate VC deals during the first half of this year (1).  159 of the total 279 deals related to blockchains, were seed stage ones.  This indicates that entrepreneurial zeal in the ecosystem has not declined in spite of the bear market Enterprises are no longer building proofs of concepts for the industry. They are increasingly embracing the ethos…

Bitcoin Breaks Parabola With Big Downtrend, a BTC Correction Inbound?

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After managing to stay situated above $11,000 for a number of days, Bitcoin (BTC) has begun to slip. This is a far cry from the performance seen earlier this week, with one day seeing Bitcoin post a 20% daily gain. Related Reading: Bitcoin Must Break Above $12,444 Or Else Price Breakdown May Occur, Claims Prominent Analyst However, this rapidly changed when BTC tapped $13,800, failed to break past this key technical level, and subsequently broke down. As of the time of writing this, the cryptocurrency has found itself floundering in…

S&P 500 Gains Can Earn You Bitcoin on New Bain Capital-Backed Exchange

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Crypto investors have a new way to bet on the price of bitcoin – or on traditional assets – with the formal launch of EverMarkets Exchange (EMX)’s derivatives platform. The Palo Alto, California-based startup was founded two years ago and opened the exchange to a restricted audience at the end of May 2019. Effective Monday, the market is now available to participants worldwide – though U.S. residents are excluded. Co-founder Craig Austin told CoinDesk that the company wants to give customers access to a “world market” by trading derivatives tied…

South Korea’s Second Biggest City Wants to Create a Local Cryptocurrency

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Busan, South Korea’s second most-populous city after Seoul, is considering the launch of a local cryptocurrency, Korean tech news publication ETnews reports July 1. According to the report, Busan city authorities are seeking to develop a blockchain-based digital currency project in collaboration with BNK Busan Bank, a subsidiary of local holding company BNK Financial Group. Specifically, Busan is reportedly developing a crypto project in the form of stablecoin, a cryptocurrency pegged 1:1 to the local currency in the BNK Busan bank account. By issuing a local digital currency, Busan expects…

From ‘Ponzi’ to ‘We’re Working on It’ — BIS Chief Reverses Stance on Crypto

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The head of the Bank of International Settlements (BIS) has appeared to U-turn on issuing digital currencies after a fresh interview with the Financial Times on June 30.  Speaking to the publication, BIS chief Augustin Carstens actively endorsed the creation and issuance of digital versions of national fiat currencies.  “Many central banks are working on it; we are working on it, supporting them,” he said.  “And it might be that it is sooner than we think that there is a market and we need to be able to provide central…

From ‘Ponzi’ to ‘We’re Working on It’ — BIS Chief Reverses Stance on Crypto

boss

The head of the Bank of International Settlements (BIS) has appeared to U-turn on issuing digital currencies after a fresh interview with the Financial Times on June 30.  Speaking to the publication, BIS chief Augustin Carstens actively endorsed the creation and issuance of digital versions of national fiat currencies.  “Many central banks are working on it; we are working on it, supporting them,” he said.  “And it might be that it is sooner than we think that there is a market and we need to be able to provide central…

Major Korean Bank Clamps Down on Accounts Linked to Crypto Exchanges

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One of South Korea’s biggest banks is planning to intensify regulations on accounts linked to crypto exchanges, BEI News reported on July 1. The “special measures” Shinhan Bank are proposing would reportedly involve dedicating staff to analyzing account transactions. It is believed the bank is hoping to distance itself from claims that it is helping financial criminals, amid a rise in the number of fraud cases involving exchanges. Later in July, the bank is also hoping to launch an artificial intelligence monitoring system that uses deep learning to identify fraudulent…

BitMEX Hits $1 Trillion Annual Trading as Bitcoin Futures Explodes

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BitMEX, a bitcoin derivatives exchange, has surpassed $1 trillion in annual trading volume, according to a tweet by founder Arthur Hayes. It comes as bitcoin futures trading volumes explode to record highs on the Chicago Mercantile Exchange (CME) platform. Demand for bitcoin derivatives, which allow users to open up long and short positions on bitcoin’s price movement, is booming. One Trillion Dollars traded in a year; the stats don’t lie. BitMEX ain’t nothing to fucking with. ⁦@Nouriel⁩ I’ll see you on Wednesday. pic.twitter.com/Y1GXWsGAHD — Arthur Hayes (@CryptoHayes) June 29, 2019…

Crypto Exchange Renews Sponsorship of Premier League Team and Prepares for US Expansion

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A crypto exchange has announced that it has renewed its sponsorship of an English Premier League football team for the second season running. CoinDeal says the extension of its deal with Wolverhampton Wanderers gives the company the chance to get its brand in front of football fans around the world. With its logo proudly displayed on the team’s kit, the company estimates that its branding appeared on more than 350 million TV screens from June 2018 to April 2019. The collaboration has also extended to advertising that highlights CoinDeal’s “fast…

China Looking to Use Blockchain as a ‘Strategic Weapon’

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As much as 73% of Chinese enterprises believe that blockchain is a top-five strategic priority, according to a report by Big Four audit and consulting firm Deloitte released on June 27. In the report, titled “Deloitte’s 2019 Global Blockchain Survey,” the company surveyed 1,386 enterprise representatives in 11 countries, including 200 respondents in China to provide a greater knowledge about major attitudes and investments in blockchain as a technology. The research was conducted between Feb. 8, 2019, and March 4, Deloitte noted in the report. Coverage of Deloitte’s 2019 Global…