US Energy Initiatives Corp Inc Now Owns $5.1 Million Sumcoins

US Energy Initiatives Corp Inc (OTCMKTS:USEI) enters into the cryptocurrency space and it now owns $5.1 million in sumcoins. The horizontally diversified energy company traded its shares for 52,766.66 sumcoins back in 2017. Sumcoins Sumcoin is a decentralized digital token like a BTC and LTC but different in the sense that its value is pegged to the sum of the market capitalizations of the leading 100 cryptos, hence sumcoin. This attribute makes the token slightly more stable compared to other conventional cryptos. Ty Jacobsen, the man behind the atcoins’ invention…

The Same Equity Firm That Owns Korbit Exchange Just Acquired Bitstamp

In a statement to customers, Luxembourg-based cryptocurrency exchange Bitstamp announced its acquisition by Belgium private equity firm NXMH Holdings, whose parent company NXC also owns South Korean crypto exchange Korbit. The all-cash deal, which was signed by Bitstamp founder Nejc Kodrič on October 25, 2018, was announced today, October 29, 2018. NXMH has around 2 billion euros in assets under management and invests in digital technologies. In an interview given to Reuters, Kodrič declined to disclose the purchase price, but he did assert the EU’s largest crypto exchange wasn’t actively…