Cryptocurrency exchange Binance has made its first direct investment in a South Korean startup. According to an exclusive report by CoinDesk Korea, Binance has taken a 500 million won ($432,000) stake in BxB, a Korean fintech firm that launched a Korean won stablecoin last year. Alongside the investment, the two firms have inked an agreement that will see BxB support Binance in operating a new support center for local users of Binance.com, the exchange’s international platform. The investment was made, not through the exchange’s incubator arm Binance Labs, but directly…
Day: January 14, 2020
LinkedIn Says Blockchain Is Top Skill for 2020
Blockchain is listed as the number one “hard skill” for 2020 in a new report compiled by jobs site LinkedIn. “Last year, cloud computing, artificial intelligence and analytical reasoning led LinkedIn’s global list of the most in-demand hard skills,” LinkedIn wrote in the report. “They’re all on the list again this year, but a skill we weren’t even looking at a year ago – blockchain – tops the list of most in-demand hard skills for 2020.” After analyzing the profiles of the users who are “getting hired at the highest…
Judge Orders Craig Wright to Produce $9.2 Billion Bitcoin Holdings
Self-proclaimed Bitcoin (BTC) creator Craig S. CSW (CSW) now has 20 days to prove his claims by producing the $9.2 billion in BTC held in the Tulip Trust. Meanwhile, Bitcoin SV (BSV), touted by CSW as being the true Bitcoin is currently on a roll, moving up the top 10 rankings by market capitalization. Moment of Truth for CSW In court’s ruling delivered on Monday (January 13, 2019), Australian computer scientist and self-proclaimed BTC inventor Craig Wright now has until Monday (February 3, 2020) to declare his alleged large BTC…
Paxos’ Tokenized Gold Futures Are Now Trading on FTX Exchange
For the first time, investors can trade gold-backed futures contracts on a leading crypto derivatives exchange. In addition to its spot market trading, PAX Gold is now available as perpetual and quarterly futures contracts on FTX. Using PAX Gold, a stablecoin backed by gold, FTX will allow traders to buy and sell gold futures contracts via digital assets. A futures contract is an agreement to buy or sell a specified asset at a predetermined price at a specific time in the future. The price of PAX Gold is tied to…
Paxos’ Tokenized Gold Futures Are Now Trading on FTX Exchange
For the first time, investors can trade gold-backed futures contracts on a leading crypto derivatives exchange. In addition to its spot market trading, PAX Gold is now available as perpetual and quarterly futures contracts on FTX. Using PAX Gold, a stablecoin backed by gold, FTX will allow traders to buy and sell gold futures contracts via digital assets. A futures contract is an agreement to buy or sell a specified asset at a predetermined price at a specific time in the future. The price of PAX Gold is tied to…
These 4 Factors Suggest the Altcoin Crypto Market Rally is Only Just Beginning
The Altcoin Index Perpetual Futures broke out of a major resistance level in the past week, which may indicate that due to the strong momentum in the crypto market, major altcoins are in a prime position to sustain their upward movement. $ALT perp:Breakout ✅Retest ✅Consolidation ✅Continuation ✅ pic.twitter.com/V3Q3Kv9fwy — The Crypto Monk ⛩ (@thecryptomonk) January 14, 2020 After breaking out of the resistance level the first time, it corrected to retest the level, consolidated, and cleanly broke out of the resistance level. These four factors, which can be considered as…
Singapore Crypto Consultant Kidnapped for $1 Million Ransom
Singaporean Mark Cheng was recently kidnapped in Thailand and tortured for a $740,000 ransom in Bitcoin (BTC), the South China Morning Post and others report on Jan. 14. After transferring all his available funds of $46,000, he allegedly made a daring escape as his captors prepared to murder him. Cheng was on a business trip to Thailand with associate Kim Lee Yao Wei when a group of masked men grabbed them and put them in a nearby truck, Cheng told Singapore Chinese publication Lianhe Wanbao. Cheng also implicated Thai actor…
Upbit Exchange Resumes Ether Services Months After $49M Hack
South Korea-based Upbit has restarted ether wallet services nearly two months after hackers made off with $49 million-worth of the cryptocurrency. The exchange recently announced that following an upgrade to its wallet security system, the platform is once more able to support ETH deposits and withdrawals. A tweet indicated that the services had become available soon after 09:00 UTC Monday. Traders will need to create a new wallet address, to which ETH held on the exchange will be automatically deposited, the firm said. On Nov. 26, Upbit confirmed that an…
Japanese Regulator Officially Proposes Cutting Crypto Margin Trading Leverage Cap
The Japanese Financial Services Agency (FSA) — the country’s financial regulator — proposed lowering the leverage rate limit of cryptocurrency margin trading from 4x to 2x. The FSA announced the proposed measure on Jan. 14 in a cabinet office ordinance — an official order that is issued along with a new law. If enacted, the proposal would be a first for the Japanese government in regulating the rate of crypto margin trading. According to Nikkei, there were previously no rules set by the state. The FSA reportedly plans to put…
Mediterranean Olive Oil Producer Uses IBM Blockchain to Fight Food Fraud
CHO, one of the largest olive oil producers in the southern Mediterranean, announced on Jan. 14 that it is using IBM’s blockchain technology to provide traceability for its Terra Delyssa extra virgin olive oil. The company is the latest major food provider to join IBM’S Food Trust Network. Utilizing blockchain allows CHO to track Terra Delyssa across eight quality assurance checkpoints, including the orchard where the olives were grown, the mill where olives were crushed, and the facilities where the oil was filtered, bottled and distributed. Vice president of IBM…