Month: March 2020

Credits Blockchain Startup Announces New Company Development Directions

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The Credits project, a worldwide company engaged in the development of solutions based on blockchain technologies, has recently announced the release of a new line of products. The new developments will be released over the course of 2020 and will help in popularizing blockchain technologies. The decentralized, distributed ledger capabilities of blockchain technologies are increasingly gaining popularity across the world in a variety of industries. However, multiple economy sectors that can take advantage of the solutions offered by blockchain-based products are still reluctant to start the process of adoption, or…

Kleiman Estate Calls on Former nChain CEO for Deposition in Craig Wright Case

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After a court slammed Craig Wright for producing forged documents and giving perjured testimony in the ongoing legal circus between Wright and Ira Kleiman’s estate concerning the Tulip Trust, Kleiman’s legal team is hard at work finding a key witness.  Wright’s legal team are trying to subpoena former nChain CEO Jimmy Nguyen to provide a deposition. However, it seems like they are having a difficult time tracking him down. Wright’s legal team left a comment on Jimmy’s latest Twitter post on March 29, saying:  “Jimmy — we’ve been trying to…

Binance Academy Launches Blockchain Accelerator in China

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Binance Academy, the educational arm of leading crypto exchange Binance, announced the establishment of a blockchain research institute in Shanghai on March 30. The Lingang Blockchain Technology and Industry Research Institute is intended to operate as a think-tank and talent hub for distributed ledger technology (DLT) innovation in China. Binance to integrate blockchain with other innovative technologies To accelerate the application of DLT in China, Binance’s blockchain institute plans to integrate blockchain with other emerging technologies with an established foothold in the country — including artificial intelligence, big data, and…

Singapore Crypto Exchange Eyes US Expansion After Registering With FinCEN

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While global cryptocurrency firms increasingly come to Singapore to benefit from its crypto-friendly ecosystem, some local firms are also expanding their operations beyond local jurisdiction. Bitget, a Singapore-headquartered digital asset platform, has obtained regulatory approval from the United States Financial Crimes Enforcement Network (FinCEN), the primary regulator for money service businesses in the country. MSB license is part of Bitget’s strategy to be compliant in “as many regions as possible” According to public records, the FinCEN granted Bitget a Money Service Business License (MSB), authorizing the Singaporean company to act…

Ubisoft and MakerDAO to Sponsor Blockchain Gaming Alliance Under New Leadership

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The Blockchain Game Alliance (BGA) announced on March 30 the appointment of Sébastien Borget as President, while further adding that companies like Ubisoft, AMD, Animoca Brands, and MakerDAO have returned as sponsors for 2020. According to the announcement, the BGA — a coalition of 90 game and blockchain companies advocating for blockchain technology within the gaming industry — will seek to strengthen blockchain adoption to expand player capabilities without any barriers.  Founded in 2019, the Alliance also hopes to represent blockchain gaming and major game industry events with the sponsorship…

Capitulation? BTC Battered by Biggest Mining Difficulty Drop Since 2011

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Bitcoin (BTC) currently sits at $6,370, a slight recovery from the March 27 pullback which saw the price drop nearly 9% in 4 hours. Despite showing some bullish signs, Bitcoin is still down nearly 30% since last Friday. As previously reported by Cointelegraph, the crash may have been caused by the recent mining difficulty adjustment of nearly -16%. The difficulty adjustment is how the Bitcoin network adapts to the changing mining power on the network, keeping its issuance rate at a fairly steady level. Cryptocurrency market performance since March 27th.…

Bitcoin Just Surged to $6,500 After Over 10% Weekend Crash

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In the past 20 minutes, Bitcoin has traded above $6,500, marking a rapid 12% gain from the $5,800 bottom seen on Sunday evening (UTC). Due to this move, the BitMEX funding rate on the Bitcoin (XBT) contract surged by 990%, according to data from Joe McCann, a cryptocurrency trader and AI/cloud specialist at Microsoft. According to him, this means “bulls [are] getting levered up here,” potentially setting the stage for a long squeeze in the future. Analysts are currently divided over what this means for the cryptocurrency; just 24 hours…

China’s Oldest Exchange OKCoin Readies for Move Into Japan

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OKCoin, one of the oldest exchanges in China, is continuing its crypto exchange business expansion, announcing on March 30 that it has officially secured licensing in Japan. OKCoin has been anticipating this day Per its announcement, OKCoin Japan has completed its registration with the Kanto Local Finance Bureau. According to the firm, this makes OKCoin the first international exchange to obtain a cryptocurrency exchange license through the official application procedure in Japan. OKCoin Japan said that ever since its establishment in September in 2017, it has been preparing itself to…

Bank of France Launches Experiment Program on Central Bank Digital Currency

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As a number of global jurisdictions like the Bahamas and Sweden are already testing their central bank digital currencies (CBDC), French central bank is getting more straightforward regarding its own CBDC plans. The Bank of France is now officially launching a program of experiments to test the integration of a CBDC for interbank settlements, inviting potential participants to submit their applications. Bank of France doesn’t insist on blockchain implementation for CBDC According to a March 30 document, France’s central bank is calling for applications to experiment with the use of…

HIVE Blockchain Acquires Bitcoin Mining Facility for $2.8M

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HIVE Blockchain Technologies, a Canadian publicly-traded ether (ETH) mining firm, has announced on March 30 the acquisition of a dedicated cryptocurrency mining operation with access to 30 megawatts of low-cost green power. The transaction was valued at CAD $4 million (USD $2.8 M). The facility, leased by Cryptologic Corp, is located in Lachute, Quebec. The firm intends to expand its total available power capacity globally to approximately 50MW, whose mining activities in Europe are focused on the Ethereum network, while Bitcoin miners will be supported in Quebec’s facility. Giving priority…