July 03, 2019

Crypto News

Crypto News

South Group's third largest conglomerate, SK Group, has invested $ 10 million in leading Ethereum-based solutions developer ConsenSys. This is reported by the local news agency Chosun. 

As noted, in his today's speech at the technology event in Seoul, the chairman of the board of SK Group and the owner of the third largest state ($ 3.4 billion) in South Korea Chey Tae-won expressed his interest in the blockchain technology and the tokenized economy, expressing also about the need for digitalization of approaches practiced by traditional businesses.

Busan, the second largest city in South Korea, is considering launching its own cryptocurrency, reports the local online publication ETnews.

The city authorities intend to implement the blockchain-based digital currency project in cooperation with BNK Busan Bank. A stable token must be provided with fiat money stored in bank accounts in a 1:1 ratio. 

By issuing a local cryptocurrency, the authorities of Busan expect to revive the economy and strengthen the leading position in the blockchain.

The operator of the upcoming US division of Binance BAM Trading Services has hired a former employee of Ripple as its CEO, CoinDesk writes.

On Tuesday, the company said that Catherine Coley, who had previously been involved in providing XRP liquidity for institutional investors, would be responsible for launching Binance US and expanding the exchange on the North American market.

CEO Binance Changpen Zhao said: "I am confident that under the leadership of Coley and using the leading technology platform Binance US will be able to provide the American community with valuable services."

The leading financial authority in Japan said that the Facebook Libra project is likely to be approved. The Nikkei agency reports that the FSA sees no legal obstacles, since it does not technically consider Libra to be a cryptocurrency.

According to the regulator, Libra, "most likely will not be a cryptographic asset (virtual currency)." This is due to the fact that the token will be a stable coin, backed by a number of different currencies, including the US dollar and the Japanese yen. Since its volatility will be low and it will not be used for speculation or any other activity that could destabilize the national economy, Libra will not face any difficulties regulating in Japan.

The amount of attracted blockchain startups in the first half of this year amounted to $ 822 million, writes The Block, citing a report by Outlier Ventures.

According to the report, a total of 279 transactions involving venture capital were concluded in this space during this period. Of these, 159 transactions were related to the provision of initial financing. "These figures indicate that the zeal of entrepreneurs in the ecosystem has not faded, despite the bear market."

Outlier notes that now entrepreneurs are no longer engaged in creating evidence of the feasibility of their concepts but are developing full-featured products. For example, EY, JP Morgan and Target have posted the code of their projects for the last 6 months.

The Binance cryptocurrency exchange successfully completed the Elrond IEO lottery and announced that trading will begin this week.

Binance CEO Changpen Zhao tweeted that 97,817 tickets were claimed for the lottery, and only 11% won the right to participate in the tokensale.

At the same time, he reassured everyone who could not take part in the sale of tokens, promising to hold new IEOs.

The world's largest cryptocurrency exchange Binance plans to start trading in crypto futures, reports CoinDesk.

The founder and CEO of Binance, Changpeng Zhao, introduced the exchange interface for futures trading at the Asian blockchain summit in Taipei.

“Binance will launch a futures platform very soon. I don't have an exact date yet. A test version of the simulation will be available in a few weeks, ”Zhao said.

Digital Shadows, a company that deals with Internet security, conducted a study from which it became known that there are more than a hundred fake domains associated with the Libra project on the Internet.

The names of more than 100 of them are associated with the Libra cryptocurrency, a few dozen with the Calibra digital wallet. Some are already being used to display malicious content.


Alex Zaskalov

Ex Pi


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