Hong Kong OTC trading firm acquires OMG Network

Ethereum-based scaling platform OMG Network has been acquired by the venture subsidiary of Hong Kong-headquartered OTC trading firm, Genesis Block. The acquisition was announced on Dec. 3, with Genesis Block Ventures revealing plans to work with OMG to build “lending and trading platforms” for the DeFi sector. The firm also intends to leverage its connections across Asia’s blockchain industry “to accelerate the development of OMG Network” and foster partnerships throughout the region. Genesis Block said it has engaged deeply with the DeFi sector this year, and has built relationships with…

Ripple Relocation Out of US on Hold, Firm Looks to Favorable Biden Presidency

Ripple has oftentimes been embroiled in a regulatory impasse with US authorities particularly the Securities and Exchange Commission (SEC) as it relates with the XRP coin which is closely associated with the company. Ripple relocation plans for its headquarters out of the United States of America on grounds of regulatory uncertainty may have to wait much longer, at least until Biden’s presidency is underway and the company’s fate is decided by different officials. According to an exclusive report from Coindesk, Ripple’s Chief Executive Officer, Brad Garlinghouse in an interview with CNN’s Julia…

Bitcoin Derivatives Firm ErisX Adds Cash-Settled Futures

Cryptocurrency derivatives platform ErisX launched cash-settled bounded futures on Tuesday, after seeing little interest from the market for its physically-settled futures.  ErisX CEO Thomas Chippas said the company had released physically-settled futures thinking that traders would be interested in trading spot bitcoin with the protection of a futures exchange and a futures clearinghouse. Cash-settled contracts don’t require the delivery of bitcoin like physically-settled contracts, allowing investors who can’t touch bitcoin to still profit off of it. Physically-settled futures won’t become more popular until the exchange can offer physically-traded futures on…

Canada-Listed Investment Firm Sells All Its Ether, Monero to Buy More Bitcoin

Canada-based investment firm Cypherpunk Holdings has dumped its holdings of two alternative cryptocurrencies and put the proceeds into bitcoin. In an announcement Thursday, the company said that its bitcoin holdings have increased to 276.479 BTC from the balance of 72.979 BTC seen at the end of the second quarter, a 279% increase. The company financed the additional bitcoin purchases with the “full liquidation” of positions in privacy-focused cryptocurrency monero and ether, the native cryptocurrency of the Ethereum network. Part of the proceeds generated from a private placement of CA$505,000 (nearly US$400,000)…

Blockchain Firm Jelurida Will Launch On-Chain Version of Bridge Game

Lior Yaffe, co-founder and core developer at Jelurida, confirmed that this is only the first step of his company’s foray into blockchain-based gaming. Swiss-based blockchain development firm Jelurida has announced it is developing an on-chain version of the card strategy game Bridge. Dubbed Bridge Champ, the game aims to disrupt the existing online Bridge gaming space, which is stagnating in a state of duopoly. Jelurida, which operates the Ardor blockchain, plans to use the game as a jumping-off point for broader expansion into the casual gaming space.  Bridge is one…

Blockchain Infrastructure Firm BSN Adds Polkadot, Oasis, Bityuan to Network

Chinese blockchain infrastructure provider Blockchain-Based Service Network (BSN) has integrated cross-chain protocol Polkadot, cloud computing startup Oasis and China-based public chain project Bityuan into its network.   The additions are part of BSN’s effort to bring a variety of blockchain projects under one standardized development environment within its own technical framework. It also aims to provide data processing and storage services to the in-network projects.  This is just the latest sign of China’s ambitions to become a blockchain superpower, by creating an infrastructure that is used by projects and developers world-wide.…

Major Australian Investment Firm Moves From Negative-Yielding Assets Like Gold to Bitcoin

A billion-dollar Australian investment management firm has gotten into bitcoin, citing that the cryptocurrency is superior to gold. Many of the firm’s clients have been asking about investing in bitcoin. “We have been positioning in gold for our clients for many many years now. Now we’re doing it with bitcoin,” said an executive of the firm. Bitcoin ‘Entering the Realm of the Mainstream’ Australian investment management company Pendal Group has started investing in bitcoin through futures contracts on the Chicago Mercantile Exchange, AFR publication reported Monday. Pendal is a global…

Blockchain Analytics Firm Looks to Trace Monero (XMR) Transactions

Monero (XMR) has been one of the main privacy technologies in the crypto space for many years now. Unlike what many think, Bitcoin is actually easy to track if a user connects their account to an exchange. But even Monero may be susceptible to tracing, according to a recent press release from CipherTrace. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Monero Is Being Cracked by CipherTrace According to a press release from CipherTrace, a leading blockchain analytics company, they’re currently working on tracking Monero in…

Crypto Retirement: US Investment Firm Launches Employer-Sponsored Bitcoin 401(k) Plan

The U.S.-based company Digital Asset Investment Management (Daim) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. The plan is an ERISA compliant employer-sponsored 401(k) and assets are held in institutional-grade cold storage by leveraging the custodian Gemini Trust. During the last few years, investors have been able to leverage a digital currency retirement plan in the form of an IRA. For instance, the company Bitcoinira helps people invest in cryptocurrencies like BTC, BCH, ETH, and LTC with the firm’s cryptocurrency-focused retirement…