Cryptocurrencies in red as decentralized application Bancor announces expansion to EOS blockchain, ethereum below USD$200 level
Sep 17, 2018
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- Bancor, which is one of the most popular and valuable decentralized applications on the ethereum blockchain, is reportedly expanding to the EOS blockchain. As per a company announcement, Bancor’s ability to allow users to trade a variety of ethereum-based tokens without depositing funds will be brought to the EOS blockchain. According to the company announcement, Bancor is evolving into a cross-chain liquidity protocol that will help with the expansion.
- Executive Chairman of Banco Bilbao Vizcaya Argentaria (BBVA), Francisco Gonzalez, said in an interview with CNBC that he believes cryptocurrencies are perfect, but often used for illicit activities. Gonzalez went on to say that the world is going through a digital revolution, however, there are ripple effects like malpractice that must be understood. When asked about fintech investment, Gonzalez replied that BBVA is actively thinking about fintech as an option.
- Former SpaceX engineer, Joshua Greenwald, announced that his new firm, LXDX, will launch a public cryptocurrency exchange. LXDX will target consumer traders, as the firm already deals with institutional clients. LXDX has received backing from notable firms, the most prominent being Dymon Asia Venture Capital Fund. LXDX also announced last week of a move to Malta.
- Founder of Chinese e-commerce giant Alibaba, Jack Ma, said that blockchains still need to prove they can help evolve society in a greener and more inclusive direction, or else they are meaningless. Ma’s remarks came during a keynote speech at the World Artificial Intelligence Conference in China today. Ma has been a known advocator of blockchain, saying in past interviews that he has been researching blockchain for years and believes strongly in its potential.
- John McAfee, developer of the first antivirus software and cryptocurrency advocate, believes centralized exchanges will cease to exist in the next five years, giving way to trustless decentralized exchanges. McAfee believes this will be followed by the largest economic boom in human history.
- Kenetic, a Hong-Kong based crypto firm, and Tora, a trading systems firm, are launching a joint-venture that would give institutional cryptocurrency traders better analytic tools. Dubbed Caspian, the project has already raised USD$16 million in funding from a token pre-sale. Some institutional investors include Kenetic, Galaxy Investment Partners, and Techemy Capital.
- The world’s second largest stock exchange, Nasdaq, announced Friday that it is in the process of acquiring Cinnober, a Swedish trading solution company that has a history of dealing with digital assets. Cinnober has historically been bullish on cryptocurrencies, and the potential acquisition could signal a move by Nasdaq into the cryptocurrency space. CCN also reported last week of a closed-door meeting held by Nasdaq with leading cryptocurrency experts that talked about ways to legitimize cryptocurrencies as a traditional securities product.
- Two European football clubs, Newcastle United and Cardiff City, are in talks with SportyCo, a decentralized sports investment and funding platform in regards to launching an initial coin offering. An ICO would enable clubs to begin the sale of private digitized tokens that give participants an ability to gain stake in the club’s revenue or receive additional benefits related to game days.
- Ripple’s Sagar Sarbhai said in an interview with CNBC Markets that he believes blockchain technology and crypto assets are being tackled more holistically by regulators. Sarbhai expands in the interview, saying regulators have historically taken a hostile approach to decentralized cryptocurrencies while remaining more receptive to the applications of blockchain, but he believes things are starting to change. Some of these changes included increased financial inclusions and the removal of barrier to commerce, citing recent regulatory framework introduced in countries like Thailand.
- The Ukranian parliament is considering taxing residents for cryptocurrency related profits, according to Coindesk. Lawmakers proposed framework that would implement a 5% tax on any crypto-related profits. This tax rate would jump to 18%, beginning January 1st, 2024.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio