Singapore-based KuCoin, a major crypto exchange with an active and loyal user base, has secured $20 million in a funding round led by $20 billion venture capital firm IDG. Michael Gan, the CEO of KuCoin, wrote, “Today, we are thrilled to announce that we have closed our Series A Round of Funding, raising $20 million (USD) from IDG Capital, Matrix …
Nvidia released its earnings report for the third quarter (Q3) of 2018 today, Nov. 15, revealing that demand for Nvidia’s graphics processing units (GPUs) among crypto miners has dried up. In the financial results report, founder and CEO of Nvidia Jensen Huang said that the company’s “near-term results reflect excess channel inventory post the cryptocurrency boom, which will be corrected.” …
In Moscow, green shoots of crypto adoption are starting to emerge. Indeed, of the Moscow locals who prefer non-cash payment methods such as mobile payments, 1% are using cryptocurrencies while 5% appear to be on the verge of doing so, according to Forbes, citing a study by Yandex.Money. The survey, which was also a product of the IT Department of …
This Pacific Island may get its national cryptocurrency after all. Marshall Islands President Hilda Heine has eked out a no-confidence vote that threatened not only to derail her presidency but also the fate of the Sovereign (SOV), a national cryptocurrency spearheaded by her administration. According to the Nikkei Asian Review, President Heine blamed a “referendum about our own politics.” Members of …
Experts from Russia will provide support for the development of Iran’s crypto-economy. The cooperation is part of an agreement reached by representatives of leading industry organizations from the two countries, both subjected to western sanctions. Crypto Associations Sign Cooperation Agreement The document has been signed by the Russian Association of Cryptoindustry and Blockchain (RACIB) and Iran Blockchain Labs (IBL), an …
The price of Bitcoin has dropped by 10 percent over the last 24 hours following a severe sell-off. Yet, several low market cap crypto and tokens have plunged by twice that amount, posting losses in the range of 20 percent. ERC20 tokens launched on top of the Ethereum blockchain network have performed especially poorly against both Bitcoin and the …
Mt Pelerin unveils the very first issuance of tokenized shares, recognizing the token holder as a shareholder in the meaning of Swiss law. A financial and technological revolution. On October 16th 2018, Mt Pelerin Group SA, a startup from Geneva with the ambition to become the first bank in the world to be entirely built on the blockchain, was issuing …
A patent awarded to the Bank of America outlines how enterprise-level institutions may be able to store cryptocurrencies owned by their customers. The filing, awarded by the U.S. Patent and Trademark Office Tuesday, contends that large companies – specifically enterprise-level institutions – may want to store cryptocurrencies for customers should they see wider adoption. There is an increasing number of enterprises …
German holding company Bitcoin Group SE has acquired a 100 percent stake in investment bank Tremmel Wertpapierhandelsbank GmbH, Cointelegraph auf Deutsch reports today, Nov. 13. Bitcoin Group SE, based in Herford, Germany, operates what is reportedly the country’s only regulated crypto exchange, Bitcoin Deutschland AG, also referred to by its domain, Bitcoin.de. Upon acquisition of the banking institution, which according …
Swiss-based Transoil International and Solaris Commodities have conducted a blockchain pilot transaction of Black Sea wheat, S&P Global reports Nov. 12. Both companies are involved in the trading of international agricultural commodities like milling wheat, vegetable oil and flour. The two firms completed the pilot using the blockchain-based agri-commodities trading and financing platform of Swiss startup Cerealia. Transoil and Solaris …
