Day: July 21, 2020

Bitcoin Founder Satoshi Nakamoto Mined $10.9 Billion Worth of BTC

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Whale Alert has recently published the report in which it states that Satoshi Nakamoto, a mysterious founder of Bitcoin (BTC) also known as Patoshi, is supposed to mine 1,125,150 BTC what worth around $10.9 billion. Satoshi Nakamoto, the inventor of Bitcoin has mined $10.9 billion judging from recent reports by the analytics firm Whale Alert a few days ago. Satoshi Nakamoto, who also uses his alias, Patoshi was found to have protected the Bitcoin network in its infancy through his mining operations. Even though these facts were not obvious in the…

Major Victim of Cryptopia Hack Prepares to Sue Liquidator Grant Thornton

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On July 21, legal representation for GNY, a firm focused on artificial intelligence and the issuer of LML, filed a final notice of liquidators’ failure to comply with duties. The liquidator in question is accounting firm Grant Thornton, which GNY accuses of botching their handling of hacked and defunct crypto exchange Cryptopia. Such a notice is the final step before a lawsuit, which would add to an already entangled case of trying to return funds from a compromised exchange. The hack and the drawn-out distribution of funds Hackers accessed New…

Robinhood Suspends UK Trading App Launch to Focus on U.S. Business

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Robinhood has announced plans to suspend the proposed launch of its trading app in the UK as it wants to focus on its business in the U.S. Robinhood recently announced plans to suspend the UK launch of its app. The company revealed its plan in an email sent to the almost 250 thousand UK customers on its waiting list. Based in California, the fintech company offers trading services to investors and customers on its mobile app and website. Now, the commission-free company has scrapped its plan to focus on its…

Grayscale Investments’ Bitcoin Cash Trust Approved for Public Trading

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Grayscale Investments’ Bitcoin Cash Trust and Litecoin Trust have been approved by the U.S. Financial Industry Regulatory Authority (FINRA) for public quotations. The two add to Grayscale’s four existing publicly traded investment products: Bitcoin Trust, Ethereum Trust, Ethereum Classic Trust, and the Digital Large Cap Fund. Grayscale’ Publicly Traded Offerings Grayscale Investments announced Monday that shares of two of its cryptocurrency trusts have been approved for public quotations by the Financial Industry Regulatory Authority (FINRA). Shares of Grayscale Bitcoin Cash Trust and Grayscale Litecoin Trust will be quoted on OTC…

China’s Blockchain Infrastructure to Extend Global Reach With Six Public Chains

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China’s state-backed Blockchain-based Service Network (BSN) has integrated with six public chains including Tezos, NEO, Nervos, EOS, IRISnet and Ethereum. Developers on these six blockchains will be able to build dapps and run nodes using data storage and bandwidth from BSN’s overseas data centers starting Aug 10. This is part of China’s plan to be the one and only infrastructure provider for blockchain firms around the world. Global users will have access to China’s enterprise chains and financial data via the network’s cross-chain structure and partnership with China UnionPay. A…

U.K. Authorities Seek to Regulate Bitcoin Related Adverts 

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Her Majesty’s Treasury (HMT), in collaboration with the government of the United Kingdom, has put up a proposal that seeks to give the country’s financial watchdog, the Financial Conduct Authority (FCA), the power to regulate some crypto-related advertisements in the region. The primary objective of the move is to promote consumer protection and curb the activities of scammers, according to a statement released on July 20, 2020. HMT Looking to Regulate Crypto Ads As part of larger plans to foster innovation, while also reducing the activities of bad actors in…

New PwC and CV VC Report Highlights Blockchain in the Art World

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Big Four auditor PwC and Swiss blockchain investment firm CV VC have released a preview for its new periodical report devoted to the blockchain in various industries. Published on July 21, the report provides an overview of the upcoming full release featuring the top global blockchain companies focused on implementing blockchain technology in art. The report was co-authored by PwC and CV VC with contribution of PwC Switzerland and Nicolai Reinbold, ecosystem and incubator manager at CV VC. As part of the upcoming full release, CV VC’s ecosystem CV labs…

Bitcoin Price Holds Key Support and Is on the Verge of Testing $10,000

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Recently, the price of Bitcoin (BTC) has been showing virtually zero volatility. This volatility decreased particularly as of late while Bitcoin was resting on the crucial support level of $9,000. But on July 21 Bitcoin finally made a sudden move, as expected in the latest analysis, and the price surged from $9,100 to $9,400. So is volatility back or is this just nothing more than a blip? Let’s take a closer look. Crypto market daily performance. Source: TradingView Crucial support of $9,000 holds for support The price of Bitcoin held…

European Leaders Create $858 Billion Recovery Fund for EU Economies

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European leaders have agreed to borrow $858 billion from financial markets and distribute around half of it as grants and the rest as loans to EU countries. After long discussions, European leaders have unanimously passed a total recovery fund of $858 billion for EU economies besides the $1.3 trillion budget. This will make the figure historic for the block to a whopping $2 trillion for the period between 2021 and 2027. The stimulus fund is expected to be shared amongst the European hard-hit economies by the ongoing coronavirus pandemic. Half…

Figure’s Mike Cagney: How to Build a Business in Blockchain

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Lex Sokolin, a CoinDesk columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Future of Finance newsletter. Mike Cagney is the Co-Founder and CEO of Figure, a full stack financial services blockchain company with consumer offerings in market or on the way in lending, banking and more. In late-2019, Figure raised $103 million at a $1.2 billion valuation and continues to grow. Its Provenance blockchain promises radical efficiencies in the $400 billion annual loan origination and trading process. Prior to…