Day: April 8, 2021

Fintech Is ‘Enormous Competitive’ Threat to Banks, Says JPMorgan Chase CEO Jamie Dimon

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Dimon advocated for a regulatory field for all active participants in the financial system to compete in order to thrive. Jamie Dimon, the Chief Executive Officer of American investment bank and financial services holding company JPMorgan Chase & Co (NYSE: JPM), has identified the growth of Fintech (Financial Technology) as one of the “enormous competitive threats to traditional banks and related institutions. Dimon revealed this in his annual shareholder letter published on Wednesday, wherein he noted that banks are usually bound by their own bureaucracies in an attempt to welcome…

SpaceGoats not again… | Red Panda Mining Fan Mail Episode 5

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C.R.E.A.M. launches Iron Bank flash loans, eyes cross-chain capital efficiency

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In a press release today, C.R.E.A.M. Finance announced a new feature for (and, by proxy, an unofficial relaunch of) Iron Bank, the protocol-to-protocol lending platform designed for flash and undercollateralized loans.  C.R.E.A.M., which founder Leo Cheng describes as “the yolo-est Compound fork,” is a money market designed to cover assets that are “underserved” and allow for greater capital efficiency for decentralized finance power users, listing assets such as Yearn vault tokens and liquidity pool tokens. “We’re adding assets that people want to have but others may be scared of,” said…

Bitmain Secures Massive Order of 42,000 S19j Antminers from Riot Blockchain

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As per the press release, Riot will start receiving S19j Antminers this year already. Public-listed mining firm Riot Blockchain is all set for a massive boost to its Antminers collection. On Wednesday, April 7, Riot Blockchain announced placing a massive purchase of 42,000 S19j Antminers for USD $138.5 million from Bitmain. Thus, it will bring the total Antiminers deployed by Riot Blockchain to 81,150. The new Antimner arsenal will increase Riot’s hashrate by 93%. Currently, under full deployment, Riot’s Bitcoin mining hashrate stands somewhere at 7.7 exahash per second (EH/s). However, the deployment of…

Citi and IADB complete cross-border payment pilot with blockchain tech

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Banking giant Citigroup has successfully completed a proof-of-concept for blockchain-based cross-border payments in collaboration with the Inter-American Development Bank, or IADB. According to a Thursday announcement, Citigroup’s Citi Innovation Labs and the IADB enabled several disbursements from the United States to a recipient in the Dominican Republic using the LACChain blockchain network — a proprietary effort by IADB’s regional program LACChain. As part of the project, the IADB deposited tokenized funds denominated in U.S. dollars in a Citi account and transferred the funds using digital wallets, IADB’s blockchain specialist and…

Citi and IADB complete cross-border payment pilot with blockchain tech

boss

Banking giant Citigroup has successfully completed a proof-of-concept for blockchain-based cross-border payments in collaboration with the Inter-American Development Bank, or IADB. According to a Thursday announcement, Citigroup’s Citi Innovation Labs and the IADB enabled several disbursements from the United States to a recipient in the Dominican Republic using the LACChain blockchain network — a proprietary effort by IADB’s regional program LACChain. As part of the project, the IADB deposited tokenized funds denominated in U.S. dollars in a Citi account and transferred the funds using digital wallets, IADB’s blockchain specialist and…

Fiat, not Crypto and Bitcoin, Predominantly Used in Money Laundering

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Crypto, including Bitcoin and Monero, have had some bad rap over the years for their alleged use as vehicles proliferating illegal activities like money laundering– A Big Fat Lie. From the onset–and perhaps because of the misunderstanding of the technology powering Bitcoin and the nature of BTC transactions, bad actors jumped in hoping to move their ill-gotten proceeds but to their unexpected bad ending. Over the years, millions worth of BTC have been confiscated by law enforcement and auctioned, making some of the greatest personalities in Bitcoin (read Tim Draper)…

Atari creates new blockchain division amid leadership shuffle

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Atari has announced the creation of a new blockchain division as part of an organizational shuffle within the company. In a press statement issued on Tuesday, the gaming behemoth revealed the creation of two new divisions — Atari Gaming and Atari Blockchain. The former will focus on continuing the developmental work on Atari’s catalog of popular retro gaming titles as well as the rebooted VCS consoles. As part of the announcement, Atari also revealed that current CEO Frédéric Chesnais will head the Atari Blockchain division while Wade J. Rosen will…

3 reasons Enjin Coin price surged by over 30% in a single day

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The price of Enjin, the native token of the blockchain gaming and NFT-focused project, has surged by more than 30% in the last 24 hours. There are three major factors behind ENJ’s strong short-term uptrend, namely the Coinbase listing, technical momentum, and the interest around JumpNet. ENJ price chart since December 2020. Source: TradingView.com Coinbase listing intensifies interest in Enji The price of ENJ has been on a gradual uptrend throughout the past month ever since the project announced the release of Efinity and JumpNet. ENJ started to see a…

LABS Explores Opportunity to Tokenize One of Resorts on Maldives Islands

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LABS is the world’s first end-to-end real estate tokenization ecosystem to develop accessible and cost-efficient investment opportunities for all. LABS is on its way to building a one-of-a-kind investment ecosystem offering opportunities to its growing community. They actively partner with real estate developers and firms worldwide, tapping into the tokenized real estate investment market’s full potential. The company has announced a partnership with the possibility of tokenizing the Ifuru Resort, a top-of-the-world luxury complex located on one of the world’s most exclusive islands in nowhere other than the one and…