Blockchain 

Crypto Lender Nexo Pays Token Holders Over $2.4 Million in Dividends

Crypto lending firm Nexo has paid its token holders a total of $2,409,574.87 in dividends. Nexo reportedly has reached an annualized dividend yield of 12.73%. Nexo announced the completion of its dividend payments in a press release on Aug. 16. According to the press release, Nexo has a user base of over 250,000. Moreover, Nexo’s dividend yield is purportedly higher than every dividend-paying stock listed on the S&P 500 market index. Nexo apparently pays out its total dividend in two parts — 50% comes from the Nexo Base Dividend and…

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Blockchain 

TZERO Officially Launches Public Security Token Trading оn Schedule

Retail giant Overstock’s blockchain subsidiary company, tZERO, has opened up its preferred equity security tokens — dubbed TZROP — for trading by accredited and non-accredited investors. TZERO announced the news in a press release on Aug. 12, the previously proclaimed day of the launch. According to the announcement, the TZROP token allows investors to directly participate in the company’s revenue growth via a quarterly dividend model.  The announcement further states that the company could distribute a quarterly dividend of 10% of the company’s adjusted gross revenue for TZROP holders. However,…

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Blockchain 

Coinbase’s Professional Platform to Begin Listing Process for Algorand Token

Major cryptocurrency platform Coinbase is adding the Algorand protocol’s eponymous token to its professional-targeted trading platform Coinbase Pro on Aug. 14. Coinbase announced this latest addition in an official blog post on Aug. 9. The cryptocurrency exchange will scale up to full Algorand (ALGO) trading in four steps: transfer-only, post-only, limit-only and full trading.  The announcement also recalls some other common procedures for adding a new token to its platform, which include announcing the onboarding phases as they occur on Twitter and that they will provide immediate support for Algorand…

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Blockchain 

Token Offerings Raised Twice More Than Blockchain Equity Deals in H1 2019

Token generation events are raising twice as much capital as conventional equity fundings for the blockchain sector. According to an Aug. 1 report from analytics firm teQatlas, token generation events (TGEs) — an alternative term for initial coin offerings — raised $2.095 billion in H1 2019, as compared with the $1.248 billion raised by blockchain firms through venture capital (VC) investment.  TeQatlas’ report is based on an analysis of roughly 2,500 blockchain firms backed by 1,800 investors via both traditional and alternative funding instruments — such as equity deals, TGEs…

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Blockchain 

Blockchain Browser Brave Launches Token Tipping Service for Twitter Users

The blockchain-based decentralized internet browser Brave now allows Twitter users to tip content creators with its native Basic Attention Tokens (BAT). Brave discussed the public launch of its token tipping service in an announcement on Aug. 1, wherein users can reportedly specify the amount they wish to tip a given Twitter account, and the recipient will receive their tip in BAT directly.  The announcement also lists a number of features associated with the tipping service, including setting up regularly recurring tips as well as a mechanism for Tweeting at a…

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Blockchain 

US Security Token Platform Adds New Policies to Comply with FinCEN

Security tokens platform TokenSoft has officially added Know Your Business (KYB) services following a successful alpha test in 2018. The San Francisco-based token issuance platform said in a press release on July 31 that the KYB feature was added in order to enhance customer due diligence (CDD) requirements in compliance with an amendment to the Bank Secrecy Act. Per the press release, the KYB test launched on the eve of the effective date of the United States Financial Crimes Enforcement Network’s (FinCEN) CDD final rule. The CDD rule amended the…

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Ethereum 

Greek Billionaire Launches Hemp-Backed Token and Dedicated Exchange

Greek billionaire and television director Alki David and his Swiss consortium launched cannabis-backed token SWX Coin, according to a press release published on July 25. A cannabis-backed token on the BTC chain Per the release, the consortium also launched the Swissx Bank of Cannabis to operate the token. The exchange will be based in Gstaad, Switzerland, and with a Caribbean headquarters to be named soon. The token is reportedly based on Bitcoin (BTC)’s blockchain, and a single unit is pegged directly to the median global price of premium hemp flower.…

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Bitcoin 

US SEC Gives Crypto Gaming Firm the Go-Ahead on ‘Quarters’ Token

The United States Securities and Exchange Commission (SEC) has cleared a crypto gaming company to issue blockchain tokens without registration, deeming the tokens to not be securities. The SEC published its determination on July 25 via the commission’s website, as a reply to an apparent inquiry from the company Pocketful of Quarters (PoQ) on its proposed “Quarters” tokens. Jonathan Ingram, the chief legal advisor of the SEC’s FinHub division wrote: “Based on the facts presented, the Division will not recommend enforcement action to the Commission if, in reliance on your…

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Blockchain 

Huobi Transitions From Current HUSD System to New ERC-20 Token

Huobi cryptocurrency exchange will transition its HUSD token from its current stablecoin system to an ERC-20 token through a partnership with crypto startups Stable Universal Limited and Paxos Trust Company. Per a press release published on July 17, Stable Universal will develop a new ERC-20 HUSD Token, which will be pegged to the United States dollar and held in reserve by the New York State Department of Financial Services-regulated custodian Paxos. Huobi will be the first platform to list HUSD Token. In the coming days, Huobi will change over from…

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Blockchain 

Binance Announces Burn of Team’s BNB Token Supply

Major cryptocurrency exchange Binance announced that it completed the eighth Binance Coin (BNB) token burn and that it intends to also burn the tokens allocated to its team in an announcement published on July 11. Per the announcement, 808,888 BNB (equivalent to over $23.7 million at press time) of the Binance’s team allocation have been burned in the event. The exchange notes that the burn is part of the firm’s commitment to burn a total of 100 million BNB tokens and that the team’s supply equates to 40% of the…

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