Cryptocurrencies see wave of red as Bitcoin falls below USD$6,500 level
Oct 03, 2018
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- A high-profile investor in Binance has invested USD$2.5 million in Australian cryptocurrency payments startup, Travelbybit. Binance and Travelbybit will collaborate to introduce a point-of-sale system in major airports around the world. The point-of-sale system has already been developed by Travelbybit. Binance CEO Changpeng Zhao said this venture is to help propel real-world cryptocurrency adoption, specifically in this case among travelers who commonly deal with hiccups in currency conversion and markup fees.
- A press release issued by Binance Labs details that Binance’s initiative has invested millions of dollars in Contentos, a decentralized digital content ecosystem. The exact amount of the investment was not disclosed. Contentos is reportedly in the process of developing a decentralized ecosystem that will offer transparency and an ability to monetize content without third-party censorship or content removal. Binance Labs is an initiative launched by Binance, the world’s largest cryptocurrency exchange, to invest in early-stage blockchain projects and entrepreneurs while providing mentorship and technical advice to projects and individuals.
- A security report released by cryptocurrency research and independent rating agency, ICORating, ranks Coinbase Pro as the most secure cryptocurrency exchange. The report analyzes and ranks 100 global cryptocurrency exchanges with daily trading volume over USD$1 million by security. Other notable cryptocurrency exchanges ranked in the report include Binance ranked 63/100 and Bitstamp ranked 37/100.
- A team of researchers from Oxford are planning to launch the world’s first blockchain university later this year. Dubbed Woolf University, the blockchain university would educate students on a one-on-one basis while remaining cheaper than average universities. The education would cost students roughly USD$19,200/year.
- Bank of America projects that the blockchain industry could be a USD$7 billion market while providing major boosts to large corporations like Microsoft and Amazon, according to a CNBC report. Bank of America research analyst, Kash Rangan, told CNBC that, “Amazon will benefit from incremental cloud service demand from blockchain implementation while improved supply chain tracking should make Amazon’s retail operations more efficient.” Bank of America did not place a time-frame on the blockchain market’s USD$7 billion valuation.
- Coinbase continued its hiring spree and added Charles Schwab advisor, Chris Dodds, to its board of directors. Dodds currently sits on the board of directors at Charles Schwab while also serving as a senior equity advisor for the firm. Coinbase also hired former Instinet CEO, Jonathan Kellner, to serve as the new managing director of Coinbase’s Institutional Coverage Group. Kellner will spearhead the firm’s institutional sales efforts that will be based out of Coinbase’s New York City office.
- Coinbase is reportedly in talks with Tiger Global concerning a USD$500 million investment that would value the US-based cryptocurrency exchange and wallet at USD$8 billion. Tiger Global is an investment management firm that was founded in 2011 and invests in global private and public markets. According to a report by technology news site Recode, half of the investment would be used to buy out existing investors while the other half would be added to Coinbase’s treasury.
- Cryptocurrency trading platform, BitMEX, has appointed a veteran Hong Kong regulator as its new Chief Operating Officer (COO). Angelina Kwan, the firm’s new COO, is a certified public accountant with about 3 years of experience serving as a managing director head of regulatory compliance for Hong Kong Exchanges and Clearing. BitMEX is a peer-to-peer trading platform that offers “Bitcoin-only” derivative products and sees roughly USD$1.8 billion in daily trading volume.
- Japan’s Prime Minister has appointed a pro-blockchain politician as the country’s new Minister of Science, Technology, and IT. The appointee, Takuya Hirai, is a member of the Prime Minister’s Liberal Democratic Party and reportedly one of the individuals who helped build Japan’s cryptocurrency regulatory framework introduced last year.
- Ubisoft, a large video game company, announced at the Blockchain Game Summit in Lyon, France that the company is joining the Blockchain Game Alliance. The Blockchain Game Alliance aims to establish and develop common standards and practices for the integration of blockchain technology into video games and their communities. Along with Ubisoft, blockchain software firm, ConsenSys is a member of the Blockchain Game Alliance.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio