Bitcoin 

Crypto Exchange Bitfinex Repaid $100 Million to Stablecoin Operator Tether

Cryptocurrency exchange Bitfinex announced that it repaid $100 million of outstanding loan facility to stablecoin operator Tether in a post on its official blog on July 2. Per the announcement, Bitfinex made the repayment via wire transfer to Tether’s bank account and the amount was not yet due to be paid to the operator under the facility. Still, the exchange reportedly made the decision to complete the prepayment based on its financial position at the end of the second quarter of 2019. The post concludes: “Also on July 1st, Bitfinex…

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Ethereum 

Operator of Newly Launched Binance US Appoints Former Ripple Exec as New CEO

The operator of United States-based division of Binance crypto exchange has appointed former Ripple exec as its new CEO, the company officially announced on July 2. BAM Trading Services (BAM), the operator of recently launched Binance US, has hired Catherine Coley, former liquidity management expert at Ripple, to oversee the launch of Binance US and bring BAM’s market to North America. After joining Ripple in 2017, Coley served as Head of XRP Institutional Liquidity, her most recent position prior to Binance US. Coley’s professional experience includes forex exchange (forex) expertise…

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Bitcoin 

CabbageTech Crypto Scheme Operator Pleads Guilty to Wire Fraud

46-year-old New York resident Patrick McDonnell admitted to stealing funds obtained from his clients instead of investing them in cryptocurrency, Bloomberg reports on June 21. Per the report, McDonnell — who calls himself the “coyote of Wall Street” — pleaded guilty to wire fraud on Friday in federal court in Brooklyn. He allegedly declared: “I claimed to invest it in virtual currency and spent it on personal expenses.” McDonnell attracted investors to his firm CabbageTech by claiming on social media to have traded over $50 million worth of bitcoin (BTC)…

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Bitcoin 

BitMEX Operator Firm Donates to MIT to Conduct Crypto, Bitcoin-Related Research

The owner and operator of cryptocurrency exchange BitMEX has donated to the Massachusetts Institute of Technology (MIT) to conduct cryptocurrency-related research, according to an announcement published on May 28. HDR Global Trading Limited has made a donation to the MIT Digital Currency Initiative (DCI), the objective of which is to conduct the research necessary to support the development of digital currency and blockchain technology. Specifically, the funds will be allocated to support Bitcoin Core developers Wladimir van der Laan and Cory Fields. Commenting on the sponsorship, Sam Reed, CTO of…

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Blockchain 

Upbit Exchange Operator Plies $46 Million Into Blockchain in First Year of Investment

The parent company of South Korean cryptocurrency exchange Upbit has invested almost $50 million in blockchain startups since March 2018, English-language Korean business news outlet The Investor reported on May 15. Dunamu, which created a dedicated investment subsidiary, Dunamu & Partners, at the same time last year, has given cash to a total of 26 businesses. In total — under plans it announced previously — the company aims to invest 100 billion won ($84 million) into the industry. “Our goal is to contribute to the healthy growth of the blockchain…

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Bitcoin 

Bithumb Exchange Operator Reveals Plans for US, Japanese Markets

The CEO of Singapore-based Blockchain Exchange Alliance (BXA) — which has a controlling stake in major South Korean crypto exchange Bithumb — has revealed plans to expand to the American and Japanese markets. The news was reported by Cointelegraph Japan on April 18. BXA CEO BK Kim told Cointelegraph Japan in an interview that BXA’s strategy is to pursue a so-called reverse merger route by acquiring a publicly-traded company that is already listed on either Nasdaq or the New York Stock Exchange (NYSE). The route can be a faster way…

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Bitcoin 

Bithumb Exchange Operator Gains $200 Million From Japanese Investment Fund

The parent company of major South Korean cryptocurrency exchange Bithumb has received $200 million in funding from Japan’s ST Blockchain Fund, the latter confirmed in a press release shared with Cointelegraph Japan on April 15. The cash, which forms part of a Series A funding round, will allow Blockchain Exchange Alliance (BXA) to expand the international side of Bithumb, which is already one of South Korea’s largest exchanges. New trading pairs will also appear, the press release notes. ST Blockchain Fund is based in Japan, but features participation from investors…

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Blockchain 

Smart Dubai Endorses Blockchain Platform From Major Local Telecoms Operator

The blockchain platform built by one of the United Arab Emirates’ (UAE) two telecoms operators has received an official endorsement from the government as part of the country’s blockchain integration, executives confirmed in a press release on April 3. Du, formerly known officially as Emirates Integrated Telecommunications Company, created its Blockchain-Platform-as-a-Service (BPaas) to offer cloud-based private blockchain hosting compatible with both Ethereum (ETH) and the Hyperledger Fabric. Now, the platform has received the seal of approval from Smart Dubai, the government organization in charge of transforming state-level services with the…

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Blockchain 

Stock Exchange Operator Pilots Collateral Pledges Digitization on Blockchain

Major Spanish stock market operator Bolsas y Mercados Españoles (BME) has completed its first blockchain pilot for electronic certificates of collateral pledges, according to an official press release published on March 15. Implemented along with Renta 4 Banco, which is the only investment services firm listed on the BME, the new pilot intends to eliminate the use of physical certifications by digitizing all processes and providing network participants with real-time access to data. The pilot’s proof-of-concept (PoC) consisted of the release of collateral pledged by Renta 4 Banco to cover…

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Bitcoin 

New York Financial Regulators Grant BitLicense to Bitcoin ATM Operator

The New York State Department of Financial Services (NYDFS) has granted a virtual currency license, or BitLicense, to Cottonwood Vending LLC, according to an official tweet on Jan. 31. Cottonwood Vending is a Bitcoin (BTC) ATM operator with terminals in New York City and the surrounding area. According to the tweet, the granting of such licenses “continues to advance responsible innovation in New York’s fintech industry.” Bitcoin ATMs, or BTMs, are touchscreen kiosks that enable users to deposit cash and either buy Bitcoin, or to scan their mobile wallet, sell…

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