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Showing posts from April, 2021

Emerging from stealth with a $16.5M investment, this Dallas company has its eyes on crypto mining and the Nasdaq

A Dallas company is emerging from stealth with its eyes on the crypto mining industry. Applied Blockchain  exited stealth mode , announcing its entrance into the Ethereum and Altcoin markets with an oversubscribed $16.5 million private equity investment and a strategic partnership with blockchain companies SparkPool and General Mining Research. "Ethereum represents one of the most attractive investment opportunities in the blockchain ecosystem," said Applied CEO and chairman Wes Cummins in a statement. Under the deal, Applied sold 660,000 shares of convertible preferred stock, representing about 31 percent of the company's ownership.  Both SparkPool and General Mining, which are helping Applied to scale with hardware and software tools, each has a 9.9 percent equity stake in the company. "Through these partnerships, we have strategically aligned our collective interests around a common goal of deploying capital rapidly to expand mining operations and capture a meanin

Turkey bans use of cryptocurrencies for payments, sends Bitcoin down

Turkey's central bank banned the use of cryptocurrencies and crypto assets to purchase goods and services, citing "irrepairable" possible damages and significant risks in such transactions. In legislation published in the Official Gazette overnight, the Central Bank of Turkey (CBRT) said cryptocurrencies and other such digital assets based on distributed ledger technology could not be used, directly or indirectly, as an instrument of payment. "Payment service providers will not be able to develop business models in a way that crypto assets are used directly or indirectly in the provision of payment services and electronic money issuance, and will not be able to provide any services related to such business models," the bank said. A growing boom in Turkey's crypto market had gained further pace recently, with investors hoping to both gain from bitcoin's rally and shelter against inflation. A weaker Turkish lira and inflation pressures also have driven u

Coinbase to be listed on Nasdaq in cryptocurrency milestone

The biggest US virtual currency exchange will be listed, following record Bitcoin highs. The listing marks a turning point for cryptocurrency , once considered an obscure investment prospect. Coinbase, the biggest US cryptocurrency exchange, is set to list on the Nasdaq on Wednesday, marking a milestone in the economic journey of virtual currencies. The listing is the biggest yet of a cryptocurrency company, with the San Francisco-based firm saying last month that private market transactions made the company valued at around $68 billion (€57 billion) this year, versus $5.8 billion in September. On Tuesday, the Nasdaq set a reference price for the company, which will be listed under the symbol COIN, at $250 a share. Taking into account shares in circulation, stock options and restricted shares, Coinbase's overall valuation will begin at $65.3 billion. Nearly 115 million Coinbase shares will be put on the market to start. A shift to the mainstream The move represents the latest brea

E11EVEN MIAMI Becomes First U.S. Nightclub to Accept Cryptocurrency

Ultraclub E11EVEN MIAMI announced Tuesday that it will now be accepting cryptocurrency as a form of payment - making them the first major nightclub in the U.S. to do so. Now, when paying for tables, drinks, or merchandise, guests have the option of seamlessly paying with cryptocurrency. "With the tremendous growth and relevancy of cryptocurrency coupled with Mayor Francis Suarez leading the charge for Miami's tech boom, we felt it made sense to introduce cryptocurrency as an option to our guests to pay for their night out," said Dennis DeGori, creator and CEO of E11EVEN MIAMI. "E11EVEN is dedicated to always staying ahead of the curve, and we believe Cryptocurrency is here to stay." E11EVEN MIAMI has partnered with one of the largest cryptocurrency processing companies to implement a system to process cryptocurrency purchases using Bitcoin, Bitcoin Cash, Ripple, Dogecoin, among others.  The system in place enables businesses to accept cryptocurrency as a form

Hong Kong Digital Asset Exchange launches NFT trading facility

Source: Hong Kong Digital Asset Exchange The Hong Kong Digital Asset Exchange (HKD.com), the first combined online and physical exchange in Hong Kong, has announced its plans for Hong Kong's first one-stop trading platform for NFT (Non-Fungible Token) digital artwork . Scheduled to open in the third quarter of this year, it will be the first digital asset exchange in Hong Kong built on blockchain technology offering an NFT trading platform. As the digital crypto-asset wave sweeps the world, HKD.com is taking the lead in bringing a one-stop NFT trading platform to Hong Kong.  The "HKD.com NFT Trading Platform" (tentative name) will provide artists with an online platform to publish, promote, trade and exchange their works, with a variety of crypto products to include digital art, animation, music and film. Platform users can trade, buy, sell and exchange tokens through public offerings or competitive bidding, and artists can publish their digital artworks.  HKD.com suppor

KBank tries blockchain option Kubix

Kasikornbank (KBank) is exploring an innovative form of services called decentralised finance (DeFi) using blockchain and independent of central financial intermediaries as it tries to grow its business regionally via the digital platform. According to Ruangroj Poonpol, chairman of Kasikorn Business Technology Group (KBTG), a tech arm of KBank, KBTG recently established a subsidiary called Kubix to operate as an initial coin offering portal for digital tokens in a collaboration with the Stock Exchange of Thailand. DeFi is a blockchain-based form of finance that does not rely on brokerages, exchanges or banks to offer traditional financial instruments. Instead, it utilises smart contracts on blockchains. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks and earn interest in savings-like accounts. "DeFi is a key exploration for KBank Group this year,"

BitMart Exchange Partners with MoonPay to Advance Fiat-to-Crypto Transaction

New York, NY, April 10, 2021 (GLOBE NEWSWIRE) -- (via   Blockchain Wire ) Only two months after the cryptocurrency market capitalization exceeded $1 trillion, it doubled itself and made the milestone of $2 trillion in early April, bringing the whole world's attention to the cryptocurrency market again. There is no doubt that cryptocurrency is gaining momentum globally, and the crypto world remains an industry full of possibilities. With Bitcoin's price skyrocketed since last year and the DeFi market fully bloomed, insightful players are unlocking boundless potentials, and this is exactly what BitMart aims to help its users achieve as a premier digital assets trading platform. With its strategic partnership with  MoonPay , a global payment solution for cryptocurrency,  BitMart  will continue serving everyone with innovative products and a seamless trading experience.  Reliability means everything to a trading platform. In the past three years, BitMart has been securing over 2.2

Binance Coin (BNB): Why It’s So Interesting to the Cryptocurrency World

Cryptocurrency is red hot, but if you’re looking to get in on the action, you can’t buy it on the stock market through a standard brokerage account like you would with an  index fund or a share of Amazon .  Cryptocurrency like Bitcoin is traded on special exchanges like Etoro, CoinBase and BlockFi.  The biggest exchange in the world by far is called Binance .  It’s so big, in fact, that a “native” cryptocurrency called Binance Coin was developed just to make it easier to pay for the site’s services. You Pay Fees To Trade Cryptocurrency If you’re not familiar with crypto exchanges, the following numbers might not mean much to you, but the 1.4 million transactions that are executed on Binance every second and the site’s 2 billion in average daily volume are truly astounding statistics. Exchanges take fees for executing crypto transactions, and part of the reason Binance is so popular is that its transaction fees are among the lowest in the world. Users pay just 0.1% to execute each of

State Street to provide tech for cryptocurrency trading platform

US asset manager to help power Pure Digital venue as financial firms inch into market State Street, one of the world’s biggest asset managers, is tiptoeing into the crypto market by forging a deal to lend its trading technology to a digital currency trading venue.  The US-based financial group said on Thursday it would partner with Pure Digital, a start-up that aims to be the main institutional platform for bitcoin.  The new trading venue will offer cash cryptocurrency trading for investors through their existing bank relationships, with State Street’s Currenex platform providing the underlying technology.  The venue is set to go live in “mid-2021”, the asset manager said.  David Newns, global head of execution services for GlobalLink at State Street Global Markets, said that the technology of currency trading platform Currenex would “translate perfectly to the digital arena”.  The Pure Digital platform was founded by Campbell Adams, a currency markets veteran who created a foreign ex

Crypto Miner Riot Blockchain to Buy Whinstone for $651 Million

  (Bloomberg) -- Cryptocurrency-mining company Riot Blockchain Inc. said it will buy North America’s largest Bitcoin hosting facility, Whinstone U.S. Inc., for about $651 million in cash and stock. Riot Blockchain will purchase all of Rockdale, Texas-based Whinstone’s assets and operations for $80 million in cash plus a fixed 11.8 million shares of Riot common stock, according to a statement released Thursday.  Whinstone will be the “foundation” of the company’s Bitcoin mining operations, Riot Chief Executive Officer Jason Les said in the statement.  Riot anticipates the purchase will make it the largest publicly-traded Bitcoin mining and hosting company in North America, measured by total developed capacity. Whinstone’s facility has a power capacity of 750 MW, with 300 MW currently developed, an important asset for energy -intensive Bitcoin mining.  The crypto miner said Wednesday that it would purchase 42,000 S19j Antminers for $138.5 million from Bitmain Technologies. Northern Dat

Cardano will hit really hard Bitcoin and Ethereum

  Cardano's recent full decentralisation will fuel its appeal and price, better positioning it to take on rivals Bitcoin and Ethereum in the booming cryptocurrency market , predicts deVere Group CEO and founder Nigel Green. His prediction comes as Cardano (ADA) last week became a fully-fledged community-run network. Green said: "The price of Cardano has exploded over the last few months - up around 600% since the beginning of the year, recently making it the third largest cryptocurrency by market capitalisation after Bitcoin and Ethereum. This milestone will help Cardano better position itself to challenge major rivals in the cryptoverse." "But now Cardano has come of age by becoming fully decentralized - meaning its parent company has handed control of the blockchain over to the community - we can expect it to attract more investors which will, of course, drive its price on an upward trajectory." He added: "This milestone will help Cardano better position

A 33-year-old fuelling crypto boom is worrying Thai regulators

  Atichanan Pulges first became interested in cryptocurrencies a decade ago when he was an engineering student in Los Angeles. Mining Bitcoin was a way for the Bangkok native to learn about markets and pay his rent. Now back in Thailand after a stint at Goldman Sachs Group, Atichanan is a co-founder of the nation’s largest licensed cryptocurrency exchange. He’s also on the front lines of an intensifying debate over who should be allowed to buy digital assets in Southeast Asia’s second-largest economy. Thailand’s Securities and Exchange Commission, alarmed by a sixfold surge in domestic crypto trading since November, said on April 1 that it would soon require traders to have experience, or take courses or pass an exam. The regulator didn’t finalise a date and opted not to ban local exchanges from accepting clients who didn’t meet minimum-income levels, which had been mulled. Digital-asset proponents including Atichanan argue that too many restrictions will merely drive Thais to unregul

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