Blockchain 

Stellar Burns Over 55 Billion Tokens Worth $4.7 Billion USD

The Stellar Development Foundation (SDF) announced a new mandate today for its network’s development, stating that it has burned over 55 billion Stellar Lumens (XLM) tokens.  According to a Medium post on Nov. 4, the development foundation drastically reduced the number of tokens in existence as part of an effort to become more efficient as it moves forward.  Of the over 85 billion tokens that were earmarked for SDF operations, giveaway programs and partnership programs, the SDF burned over 55 billion.  At a current price of $0.085 per token, the…

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Cryptocurrency 

Overstock’s Crypto Division Invests $2 Million USD in Evernym

Troubled online retailer Overstock has invested $2 million USD in blockchain-based identity firm Evernym through its crypto division, Medici Ventures. Blockchain-Based Identity Technology Evernym was founded in Salt Lake City in 2013 and has developed a blockchain-based technology that allows organizations and governments to issue, accept, and verify credentials that operate similarly to a digital passport. Its digital credential platform, Verity, allows organizations to interact with customers while giving clients control over their data. The technology utilizes blockchain to develop a decentralized ecosystem of digital credentials that is more trustworthy than physical…

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Cryptocurrency 

Blockstack Raises $23 Million USD in First Regulated Token Offering

Blockstack has raised $23 million USD in the first-ever token offering approved by the US Securities and Exchange Commission. Blocskstack PBC, which is a decentralized computing network aiming to antiquate data breaches and trust violations, first announced the token sale in July, having received SEC approval to raise up to $28 million USD in a Reg A+ compliant offering. The breakdown of the token offering consisted of $15.5 million USD raised through the sale of  74.3 million Stacks tokens through its Reg A+ sale in the US, and an additional…

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Cryptocurrency 

Elliptic, A Crypto Forensic Startup, Raises $23 Million USD

Elliptic, a British startup firm aimed at tracing suspicious crypto activity, has raised $23 million USD in a funding round led by SBI Holdings. Elliptic to Expand into Asian Markets The Series B funding round was led by Japanese financial institution SBI Holdings and will enable Elliptic to continue expansion into Asian markets where it has recently opened an office in Singapore and will open another in Japan this week. Elliptic CEO and founder James Smith cited Asia as a highly attractive market for the company due to its prominent…

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Cryptocurrency 

BlockFi Raises Over $18 Million USD in Funding Round

US cryptocurrency lending startup BlockFi has raised $18.3 million USD in a funding round led by Valar Ventures, the company announced on Tuesday. BlockFi is the first company of its kind to receive institutional funding for crypto-based loans in US dollars, in the form of a $50 million lending facility from Galaxy Digital. The new capital will reportedly be used to expand the array of products on BlockFi’s existing platform that includes interest-earning accounts for Bitcoin (BTC) and crypto-backed USD loans. BlockFi also plans on using the investment to double…

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Blockchain 

BTC Peer-to-Peer Trading Rises Amid Ban on USD in Zimbabwe: Report

Bitcoin (BTC) trading in Zimbabwe has continued to surge after the government banned the use of foreign currencies on June 24, business news agency Quartz Africa reported on July 10. The country is reportedly seeing a rise in peer-to-peer (P2P) crypto trading as there are no local exchanges offering cryptocurrency transactions due to the existing ban on providing such services enacted by Zimbabwe’s central bank in May 2018. Since Zimbabwe recently re-introduced its local currency, the Zimbabwe dollar (ZWD), after abandoning it in 2009, Bitcoin has apparently become a more…

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Ethereum 

Circle Releases Another Attestation Report on Stablecoin USDC’s USD Reserves

Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). The company reported the update in a blog post published on May 17. USD Coin is an Ethereum-based token compliant with the ERC20 standard that was first announced in May last year and released in September. Per this week’s announcement, the audit of the coin’s fiat reserves was conducted by major Chicago-based accounting firm Grant Thornton LLP. The report released by the firm states that as of April 30, 2019 at 11:59 p.m. Pacific Time…

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Ethereum 

Paxos Now Allows for Instantaneously Redeeming Unlimited Amounts of PAX for USD

The company behind the Paxos Standard (PAX) stablecoin announced that its users can now instantaneously redeem unlimited amounts of its tokens for United States dollars. The development was described in a blog post published on May 13. Per the announcement, every PAX deposited on the company’s platform can now be immediately sent as USD to a bank account without minimal redemption requirements or fees for deposits or withdrawals. The company claims: “We launched PAX with a 1 day redemption window, which was groundbreaking. Then we moved to four-hour windows. Now,…

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Blockchain 

Platform Launches Leveraged Bitcoin CFDs for Speculation on Movements Against JPY and USD

A platform has launched a leveraged bitcoin contract-for-difference (CFD) product, enabling traders to speculate on the cryptocurrency’s price movements against the Japanese yen and United States dollar. Liquid says demand for crypto derivatives is rising and believes these financial products have the potential to enhance awareness about the many hundreds of coins and tokens in the marketplace today. Crypto derivatives are gaining popularity because of how they can help protect traders against volatility in the marketplace. When it comes to futures, traders may benefit from being able to buy or…

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Bitcoin 

Bitcoin Holds $4,000, British Pound Loses to USD as Brexit Anticipation Grows

Monday, March 25 — crypto markets have continued trading sideways, with Bitcoin (BTC) holding the $4,000 threshold at press time, according to data from CoinMarketCap. Most of the top 20 cryptocurrencies by market cap are in the red today, with Cardano (ADA) dropping by more than 4 percent to press time, while Tezos (XTZ) is up almost 5.7 percent over the past 24 hours to press time. Bitcoin has been stable over the day, seeing a slight decline of around 0.2 percent at press time. The biggest cryptocurrency is trading…

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