Crypto Exchange Kraken to Plan Private Offering After ‘$4 Billion’ Valuation

United States cryptocurrency exchange Kraken is considering a private offering to high net worth investors, Finance Magnates reported Dec. 12, quoting emails sent by the company. Kraken, which is currently the subject of a lawsuit over its support of the competing forks of altcoin Bitcoin Cash (BCH), has reportedly valued its shares at $4 billion. According to Finance Magnates, executives are now offering select major clients to whom the email was sent a chance to acquire further equity, subject to a minimum investment of $100,000. “The transaction process will be…

Seven Funds Plan $300 Million Investment for Blockchain Startups Through 2021

Ohio funds will pour over $300 million into blockchain startups through 2021, Northeast Ohio daily news outlet Cleveland.com reported Dec. 3, quoting executives. Speaking at the ongoing Blockland Solutions conference, nonprofit JumpStart CEO Ray Leach announced that a total of seven funds were primed to invest $100 million in “early-stage startups that focus on using blockchain technology for business or government.” Another $200 million was being considered by “additional investment teams” for blockchain outfits working within Ohio’s social welfare projects, dubbed “Opportunity Zones.” The moves come as the U.S. Buckeye…

Central Bank Doesn’t Plan to Issue Its Own Cryptocurrency

The Central Bank of Azerbaijan (CBA) does not plan to issue a state-backed cryptocurrency because of the “great risks,” English-language Azerbaijani news outlet AzerNews reported Nov. 15. Alim Guliyev, the first Chairman at CBA, underlined that since digital currencies “come with great risks,” the CBA is not intending to launch a central bank issued digital currency (CBDC) any time soon. Guliyev, who sees such financial instruments as “risky and dangerous,” added that he believes money laundering is the prime goal of cryptocurrencies. An Israeli independent study group set up by…

Maduro Bankrupted Venezuela — Now He’s Launching a Petro Savings Plan

Twitter Facebook LinkedIn The Venezuelan government has recently launched a Petro savings plan that allows the country’s citizens to put their money into the oil-backed cryptocurrency and “save by means of a certificate.” Venezuela Launches Petro Savings Plan for 18 Million Citizens According to local news outlet Telesur, the savings plan is part of the “Comprehensive National Cryptoasset Plan,” and will in its initial phase “make available” 4 million petros, equivalent to 14,400 million sovereign bolivars, the country’s fiat currency. The amount equals $240 million. The savings plan is set…

There’s a New Plan to Build the Hardware for Ethereum 2.0

The Ethereum Foundation is funding efforts to create specializing mining hardware in partnership with blockchain data storage network Filecoin. Announced Thursday at Devcon, the annual gathering of developers in Prague, Ethereum Foundation researcher Justin Drake unveiled preliminary designs for application-specific integrated circuits, or ASICs, that will support an upcoming ethereum technology called the “beacon chain.” In essence, the beacon chain is a random number generator, and it’s expected to form part of the next major iteration of the ethereum network – ethereum 2.0 – under an alternative, proof-of-stake consensus protocol (compared to the proof-of-work approach…

Hacked Bitcoin Exchange MapleChange Returns, Discloses Refund Plan

Following yesterday’s report that MapleChange had claimed to have been hacked and gone offline, the Canadian bitcoin exchange’s Twitter account has come back to life, and they have opened a Discord chat room in order to facilitate altcoin refunds. According to a tweet, they will not be refunding any litecoin or bitcoin deposits. Their main website remains offline. We CANNOT refund any BTC or LTC funds unfortunately. We will try our best to refund everything else. — MapleChange (@MapleChangeEx) October 28, 2018 Customers appeared to garner no reassurance from the…

Brazilian Presidential Candidate Uses Blockchain to Publish Government Plan

Fernando Haddad, the presidential candidate for the Brazil Workers’ Party, has published his government plan via blockchain, per an announcement published on his website Oct. 14. According to the release, Haddad decided to use blockchain technology for disseminating information about his presidential campaign after a long-term struggle with fake news reports. As information stored on a blockchain cannot be altered or compromised, he decided to store the data on a decentralized platform. The release also notes that Haddad used “free software” in Sao Paulo where he served as mayor from…

Coinbase Opens Office in Ireland as Part of Brexit Contingency Plan

San Francisco-based cryptocurrency exchange Coinbase has opened a new office in Dublin, Ireland, according to an announcement published Oct. 15. In addition to helping expand its operations in Europe, the new Irish offices are reportedly part of a contingency plan for when the U.K. leaves the E.U. Per the announcement, the Dublin team will take on a number of new business-related functions, while London will remain Coinbase’s main office in Europe. The Irish Minister for Financial Services and Insurance Michael D’Arcy commented on the exchange’s expansion: “I am delighted that…

Zaif Exchange Reveals Refund Plan for $60 Million Crypto Hack

Tech Bureau, the firm behind the Japanese crypto exchange Zaif, has revealed a refund plan to compensate users after a $60 million hack that happened on the platform last month. Tech Bureau said on Wednesday in a release that it signed an agreement with Fisco – a publicly listed investment firm in Japan – to transfer the business of Zaif to Fisco Cryptocurrency Exchange. The two stated this approach would avoid further risks for Fisco and users on the platform. Zaif, currently one of the 16 licensed crypto exchanges in Japan,…

Zaif Crypto Exchange Reveals Takeover In New Hack Refund Plan

Tech Bureau, the firm behind the Japanese crypto exchange Zaif, has revealed a drastic new plan to compensate users after a major hack last month. Tech Bureau said in a release Wednesday that it had signed an agreement with Fisco – a publicly listed investment firm in Japan – to transfer in full the Zaif business to Fisco’s existing cryptocurrency exchange. In return, the new owner will take on the responsibility for compensating users who lost funds in the breach. The two stated this approach would avoid further risks for Fisco and users…