Blockchain 

Major Utility Settlement Coin Project Raises $63 Mln for Commercial Realization

The Utility Settlement Coin (USC) project — led by some of the world’s largest banks — has announced the creation of a new firm and closure of an accompanying £50 million ($63.2 million) Series A financing round. The news was revealed in a press release shared with Cointelegraph on June 3. As Cointelegraph has previously reported, the USC platform aims to facilitate the issuance of blockchain-based currencies in the commercial and central banking sector worldwide. According to today’s press release, USC project partners have now become the founding shareholders in…

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Bitcoin 

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

Major crypto exchange Bitstamp has launched an investigation after a large bitcoin (BTC) sell order heavily impacted its order book, as the firm announced in a tweet on May 17. Bitstamp reported an execution of a large sell order in BTC to United States dollars (USD) on its platform today,as the exchange wrote earlier today. While the company has not specified the details of the transaction, the price of bitcoin had plummeted about 20% from around $7,800 to as low as $6,250 in less than 30 minutes earlier on the…

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Bitcoin 

Capital Outflows From Major Crypto Exchanges Exceeded Inflows by ~$622 Mln in Recent Days

Blockchain data provider TokenAnalyst estimates that capital outflows from major crypto exchanges have exceeded inflows by ~$622 million over the past five days, Bloomberg reported on May 15. London-based TokenAnalyst has reportedly based its figure on an analysis of withdrawals and capital inflows on multiple crypto trading platforms — including Bitfinex, BitMEX, Binance and Kraken. While bitcoin (BTC) continues to rally and hit multi-month highs, Bloomberg’s report also makes the claim that its strong price performance may in part be inflated by recent capital flight from investors unsettled by the…

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Blockchain 

Fintech Firm Billion Seals $2.1 Mln European Commission Grant for Blockchain System

Polish-British fintech firm Billon has reportedly sealed an almost €2 million (~$2.1 million) grant from European Commission’s Small and Medium-Sized Enterprises (SME) Instrument program to develop a blockchain document management system. The news was reported by Billion in a press release on May 14. The Commission’s SME Instrument program provides funding for innovation projects which are close-to-market, and has reportedly awarded Billon a grant under Phase 2 of the program — which provides enterprises with up to 70% of the costs of their proposed project. Billon’s system, dubbed B4TDM (Blockchain…

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Blockchain 

Australian Advisory Firm to Launch $250 Mln Digital Securities Offering for Mining Sector

Major Australian capital advisory firm PCF Capital Group has chosen permissioned blockchain ecosystem KoreConX for a $250 million digital securities offering. The news was revealed in a press release shared with Cointelegraph on May 14. PCF Capital is a corporate advisory firm with a focus on serving clients within the mining and resource sector, and has executed 120 mine divestment and project financing mandates for over $2 billion, according to the press release. KoreConX is reportedly a permissioned blockchain ecosystem for fully-compliant digital securities. It comprises a network of broker-dealers,…

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Bitcoin 

US DoJ Charges Group of Individuals Who Stole $2.5 Mln in Crypto Via SIM Swapping

The United States Department of Justice released a fifteen-count indictment on May 9 that charges a hacking group labeled “The Community” with SIM swapping in order to steal cryptocurrencies. U.S. Attorney Matthew Schneider and his colleague from the U.S. Immigration and Customs Enforcement Angie Salazar announced the charges in the Eastern District of Michigan. Per Salazar, the investigation was led by Homeland Security Investigations on two continents. According to the indictment, five Americans and an Irishman are charged with conspiracy to commit wire fraud, wire fraud and aggravated identity theft.…

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Blockchain 

Overstock’s Blockchain Arm Receives $5 Mln From Chinese Firm Following Delays

Overstock’s blockchain subsidiary tZero has finally secured a $5 million investment from Chinese investment firm GSR Capital, Overstock announced on its latest earnings conference call on May  9. Following an investment in cash and marketable securities, Overstock evaluated tZero’s worth at $1 billion, which is $500 million less than the company initially projected in August 2018. The new funds represent around 2% of the originally projected investment of $404 million from GSR Capital and Singaporean private equity firm Makara Capital. The initial sum included $270 million for up to 18%…

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Blockchain 

Blockchain Firm Raises $6 Mln From Major Energy Companies, Saudi Aramco Subsidiary

American blockchain startup Data Gumbo Corp. has raised $6 million from major energy companies, including the venture wing of Saudi Arabian national petroleum and natural gas company Saudi Aramco. The news was published by energy-focused news outlet Worldoil on May 8. In a Series A equity funding round, Data Gumbo ostensibly raised $6 million from companies such as Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, a Norwegian multinational energy operator. The new investment purportedly brings Data Gumbo’s total…

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Blockchain 

Orchid Labs Secures $7 Mln Towards Development of Protocol to End Internet Surveillance

United States-based blockchain and software development firm Orchid Labs has raised another $7 million within its latest private offering, according to a blog post published on May 7. Following the new raise, Orchid now has secured $43 million out of targeted funding of around $125 million, as the firm specified in a filing to the U.S. Securities and Exchange Commission (SEC) in April 2018. In the filing, Orchid revealed that the company raised $36.1 million via a Simple Agreement for Future Tokens by that time. Founded in 2017, Orchid is…

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Bitcoin 

Binance CEO Addresses Concerns Live After $40 Mln BTC Hack, Rejects Blockchain Reorg Idea

Changpeng Zhao (CZ), CEO of major crypto exchange Binance, has devoted his live AMA on Twitter to address community concerns in the wake of yesterday’s $40.7 million hack. The AMA was broadcast live on May 8, 3am UTC. As reported yesterday, Binance suffered a major and premeditated hack, reportedly conducted by tactics that included phishing and viruses to obtain a large number of 2FA codes and API keys. The security breach reportedly resulted in hackers withdrawing around 7,000 bitcoin (BTC) — worth around $40.7 million at the time — from…

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