Canadian Holding Firm to Acquire EXMO Crypto Exchange Per Letter of Intent

Canadian holding firm GoverMedia Plus Canada will acquire U.K.-based crypto exchange EXMO per a recently signed a Letter of Intent (LOI), according to a joint announcement published Nov. 13. The LOI reportedly enables GoverMedia to exclusively negotiate the transaction within the next 180 days. Upon the completion of the transaction, the joined entity will continue to conduct business on the EXMO platform and will be listed on a stock exchange. According to the announcement, the acquisition deal will “comply with all necessary legal and regulatory requirements” after observing due diligence…

Huobi’s US-Based Strategic Partner HBUS Hires Former Exec of VC Firm Draper Athena

HBUS, the strategic partner of top crypto exchange Huobi, has hired a former executive of venture capital (VC) firm Draper Athena, according to a press release shared with Cointelegraph Nov. 13. The HBUS trading platform, which currently employs around 40 people in their headquarters in San Francisco, has officially announced the appointment of Jay Ryu, formerly of Draper Athena, as Vice President of Corporate Development. As the press release states, Ryu previously worked with prominent figures in the VC industry, such as Draper Athena chairman Tim Draper, well-known for his…

Film Publishing Rights Firm Fintage House Now Accepts Crypto for Rights Transactions

Dutch rights management company Fintage House has signed a deal with blockchain-based social entertainment platform TaTaTu to start accepting cryptocurrency for rights transactions, entertainment industry news outlet Variety reported Nov. 12. Established in 1986, Fintage House specializes in the collection and management of TV, film and music publishing rights and licensing, as well as offering revenue collection and reporting for rights owners services. The partnership with TaTaTu enables Fintage House to accept the platform’s native token TTU for film and TV rights transactions. TTU tokens were originally designed to let…

Swiss Crypto Firm Gets Islamic Finance Certification for Sharia-Compliant Stablecoin

Switzerland-based fintech firm X8 AG has received a certification from the Shariyah Review Bureau (SRB) for its Ethereum-based stablecoin, Reuters U.K. reports Nov. 12. SRB is a leading Sharia consultancy and audit firm licensed by the central bank of Bahrain. It reportedly has a presence in twelve countries, and holds the market share of over 13 percent of Saudi Investment Companies licensed by the country’s Capital Markets Authority (CMA), and over 21 percent of the Cooperative Insurance Firms Listed on the Saudi stock-exchange market. The debate over whether or not…

German Financial Regulator BaFin Shuts Down Activity of British Crypto-Related Firm

The German Federal Financial Supervisory Authority (BaFin) has ordered partial cessation of activities by U.K.-based crypto-related firm Finatex Ltd., according to an official announcement published on BaFin’s website on Friday, Nov. 9. According to the BaFin’s notice, reportedly dated Oct. 2, Finatex Ltd. is ordered to “immediately” stop offering cross-border proprietary trading on its trading platform, Crypto-Capitals. According to BaFin’s announcement friday, the firm must cease trading since its activity is not approved by German financial legislation, including the German Banking Act. In a short description of the company’s activities,…

Swedish Man Sentenced After Sending Bomb to Crypto Firm Over Lost Password

A Swedish court has sentenced a man to six and a half years in prison after he sent a “potentially lethal homemade bomb” to a U.K.-based crypto firm, BBC reports today, Nov. 9. Jermu Michael Salonen, 43, faced several charges in the Stockholm District Court, including sending a bomb to Cryptopay employees in London, and mailing a white powder to Swedish politicians — including the prime minister. Salonen was allegedly attempting to take revenge on the firm for refusing to change his password on the Cryptopay platform in August 2017.…

U.S. Law Firm Files Claims Against AT&T, T-Mobile Over SIM Swap-Enabled Crypto Thefts

  U.S. crypto investor law firm Silver Miller has filed arbitration claims against telecoms giants AT&T and T-Mobile for “SIM-swap”-related thefts, according to a press release published Nov. 8 SIM-swapping – also known as a ‘port-out scam’ – involves the theft of a cell phone number in order to hijack online financial and social media accounts, enabled by the fact that many firms  use automated messages or phone calls to handle customer authentication. According to one of the (partially redacted) Silver Miller Statement of Claim documents – filed against AT&T…

Japanese Firm Launches Blockchain Security Monitoring Tool

Tokyo-based NRI SecureTechnologies has launched a new tool to detect security problems in blockchain-powered applications. The new tool, dubbed the Blockchain Security Monitoring Service, is designed to detect and report security vulnerabilities in information systems and services that use blockchain technology. The first use will be as a monitoring service for smart contracts on Ethereum. Blockchain Security Monitoring Tool The blockchain security monitoring tool is implemented by introducing multiple scan tools in the security log monitoring service NeoSOC, which monitors the behavior of targeted smart contracts and notifies the company…

Canadian Bitcoin Mining Firm Hut 8 Sees Record High Revenue in Q3 2018

Canadian Bitcoin (BTC) mining company Hut 8 has reported record revenue in the third quarter (Q3) of 2018, according to the company’s quarterly financial report published Nov. 8. Hut 8, which claims to be “the largest” public crypto mining company by operating capacity and market capitalization, has revealed its financial results for Q3 of this year, stating that its revenue reached a record high $13.5 million for Q3, and $27.7 million for the nine months ending on Sep. 30. Revenue increased by 126 percent compared to the previous quarter revenue…

Crypto Exchanges Must ‘Grow or Die,’ Says Exec at Fintech Firm Cinnober

A financial technology company that was founded a full decade before the bitcoin white paper came out is looking to help today’s cryptocurrency trading platforms mature. Cinnober, based in Stockholm, mainly provides tech solutions to traditional stock and commodity exchanges around the world. But this year it’s struck a handful of deals with crypto startups – most recently the Bitstamp exchange, which announced this week it will be the first in the space to use the vendor’s TRADExpress platform, alongside the likes of the London Metal Exchange. And it likely won’t…