Bitcoin 

Ex-CEO of BTC-e Exchange’s Spin-Off WEX Is Arrested in Italy

Former CEO of now-defunct crypto exchange WEX, a spin-off of controversial BTC-e exchange, was arrested in Italy. No official statement to date Dmitri Vasilyev, who reopened BTC-e exchange as WEX.nz in September 2017, was detained by Italian prosecutors. While no official statement has been disclosed to date, BBC Russia reported the arrest on July 19. In the report, the publication cited an unnamed friend of Vasilev and two anonymous WEX investors. The reason for detention remains unclear. In April 2019, Vasilyev became the subject of a criminal investigation by the…

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Ethereum 

Waves CEO Sells His Stake in Blockchain Spin-Off Vostok

Founder of token issuance platform Waves has fully sold his stake in the firm’s blockchain spin-off Vostok to focus on the Waves Platform. Alexander Ivanov, CEO and founder of Waves, sold his stake in the Vostok, with global financial group GHP Group becoming the sole owner of the project, according to a press release on July 16. Ivanov said that he decided to sell the Vostok project in order to focus the resources on the development of the Web3 ecosystem within the Waves Platform. Mark Garber, Chairman of the Board…

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Ethereum 

ConsenSys Spinoff Truffle Integrates With Goldmans Sachs-Supported Blockchain: Report

Truffle is integrating with AxCore, a proprietary blockchain jointly created by Goldman Sachs and JPMorgan-supported Axoni, Forbes reported on April 29. The ConsenSys spinoff, which makes tools that are widely used by Ethereum developers, has reportedly raised $3 million as it aims to expand into enterprise-grade solutions. According to the Forbes report, Truffle plans to use the investment to complete a suite of blockchain development tools designed to appeal to enterprise clients. An estimated 60% of Truffle’s current revenue comes from liaising with startups, larger corporations and governments that want…

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Bitcoin 

SBI Group Sets Up Spin-Off to Manufacture Crypto Mining Chips

Japanese financial giant SBI Group has created a dedicated subsidiary that will manufacture cryptocurrency mining chips, the company confirmed in a notice on March 22. SBI, which has launched spin-offs covering various aspects of the cryptocurrency industry, now says it wishes to expand its influence in the mining sector through the creation of SBI Mining Chip Co., Ltd. (SBIMC). The company will join industry stalwart manufacturers, chief among which is Bitmain, which released its latest product this week. “The SBI Group strongly promote [sic] on a wide range of businesses…

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Bitcoin 

Bitcoin Smart Contract Protocol Rootstock Acquired by Spin-off Project RIF Labs

Bitcoin-based smart contract protocol Rootstock (RSK) is integrating with spin-off project RIF OS to expand its scope of operations, the parties confirmed in two separate blog posts Nov. 18. As part of the deal, RIF Labs, the structure behind off-chain infrastructure layer RIF OS, will acquire RSK’s counterpart RSK Labs. RIF started out as a side project from the same executives who held senior positions at RSK. Together, they plan to enable the RSK protocol to go beyond Bitcoin and Ethereum network support and include various P2P functions. “The three…

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