Day: December 4, 2019

Danish Court Upholds Nordea’s Push to Bar Employees from Trading Bitcoin

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Nordea Bank, a financial institution in Denmark that’s part of the largest financial group in Scandinavia, has been given the go-ahead by a Danish court to continue restricting its employees from owning or trading Bitcoin (BTC). The court says the volatility associated with cryptos justifies the ban, according to a BNN report on December 3, 2019. Court Rules in Favor of Nordea Bank Per sources close to the matter, the legal battle between Nordea, a highly reputed bank headquartered in Finland and  Denmark’s union for financial industry employees has finally…

Gemini Hires Former Starling Bank Exec for Push Into Europe

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Gemini, the top global cryptocurrency exchange per CryptoCompare’s latest Exchange Benchmark, hired a former senior executive from United Kingdom-based Starling Bank. Julian Sawyer, a former CEO and co-founder at Starling, will now lead Gemini Europe — the European affiliate of Gemini Trust Company — as the managing director of the U.K. and Europe, the firm announced Dec. 4. Over 20 years in high-growth financial services organizations According to an announcement by Gemini president Cameron Winklevoss, Sawyer joins the major United States-based crypto exchange with a total of 20 years experience…

Bitcoin Halving 2020 Won’t Have Strong Influence on Bitcoin Price, Says Jason Williams

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Taking a contrarian view, Morgan Creek Digital co-founder and prominent personality in the crypto space Jason Williams has described the upcoming Bitcoin halving event as a non-event. He made this known in a tweet early this week. Unpopular Opinion – Bitcoin halving in May 2020 won’t do anything to the price. It will be a non-event. — Jason A. Williams 🦍 (@JWilliamsFstmed) December 1, 2019 While halving refers to the reduction by half of the Bitcoin rewards that are given to miners every four years, previous halving events have indicated…

Crypto Exchange Gemini Burnt One-Fifth of Its GUSD Stablecoin Supply

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Cryptocurrency exchange Gemini burnt about one-fifth of its Gemini Dollar (GUSD) stablecoin total supply on Dec. 3. Whale Alert — a Twitter account dedicated to tracking large cryptocurrency transactions — reported on Dec. 3 that 1,035,020 GUSD were burnt in a single operation. This number of tokens is equivalent to around 20% of what was the total GUSD circulating supply before the burn. The remaining GUSD supply is a little more than 4.1 million GUSD. Gemini Dollar market cap one-day chart. Source: CoinMarketCap Gemini Dollar’s rise and demise The Gemini…

Circle to Charge Fees on US-Based Poloniex Traders’ Crypto After Dec. 16

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Circle, the parent company of cryptocurrency exchange Poloniex, says it could charge United States users fees and even confiscate users’ entire balances if they do not remove their funds. In a blog post on Dec. 3, Circle warned that U.S. traders have no option but to stop using Poloniex, a policy adopted in preparation for the platform forming its own separate entity. Funds must be taken from accounts by Dec. 16. If a user fails to do so, fees may apply, which in theory can total the entire account balance.…

SoftBank Leads $30M Round for Cashierless Stores Startup Accel Robotics

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Now, we all know SoftBank for its “unicorn status” investment decisions and so it shouldn’t come as a surprise to many that the investment giant has participated in a Series A round of funding for Accel Robotics which is a San Diego-based startup that has been involved in the cashierless space for a bit now. The funding round also attracted other investors including Toyo Kanetsu Corporate Venture Investment Partnership, RevTech Ventures and New Ground Ventures. Accel Robotics and other technology startups have been looking into the various means and methods…

Saxo Bank’s Outrageous Prediction 2020: Asia Launches DLT-Based Asset

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Major Danish bank Saxo Bank has predicted that Asia will launch its own blockchain-based digital asset in its new report of smashing predictions for 2020. The latest edition of “Outrageous Predictions” by Saxo Bank also forecasts that President Donald Trump will likely lose the 2020 elections, while Hungary will leave the European Union. The report was issued on Dec. 3, according to a tweet by the bank. Saxo Bank claims that Asia will launch a new reserve asset in order to “confront a deepening trade rivalry and vulnerabilities from rising…