Tuesday, January 15, 2019
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Sheevika Senanayake

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Crypto.com Preparing new Storage for MCO Tokens

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Crypto.com, the cryptocurrency payment platform has announced that in order to increase security of its assets, the platform has been considering a custody solution with Hardware Security Module (HSM) which has multi-sig cold storage capability.

To prepare for the onboarding of the new custody solution, the platform has announced that its MCO tokens will be transferred to a new address on the 28th of December.

Cold storage custody solutions have become extremely popular due to the increased number of hacking attempts of online storage.

Electrum Wallets Hacked, Victims Lose 250BTC

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    An ongoing hack of the Electrum wallet has netted hackers 250 Bitcoin (BTC) so far with hackers creating a fake version of the wallet and tricking users into providing their login details. The attack was first reported on social media and then subsequently confirmed by the platform, which has issued a warning to is users as well.

    Reddit user u/normal_rc has explained that several malicious servers had been set up and that “if someone’s Electrum wallet connected to one of those servers, and tried to send a BTC transaction, they would see an official-looking message telling them to update their Electrum wallet, along with a scam URL”.

     

    Ripple Business to be Conducted in Regulatory Clarity

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    Ripple executives speaking on the latest Ripple Drop have spoken of conducting business where regulatory framework offers clarity on how the industry is perceived.

    Marcus Treacher and Ashish Birla were featured in the episode, speaking of the important milestones that the blockchain achieved in 2018. Treacher had mentioned the One Pay FX, a payment service by Santander as “creating a true global network… to bring the internet of value to life”.

    Birla has mentioned xCurrent and xRapid systems as his picks for the year, touting the two working in conjunction to provide services globally.

    PwC Predicts Growth of Crypto Adoption in 2019

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      PricewaterhouseCoopers (PwC), one of the “Big Four” accounting and professional services firms has stated that institutional investors will be the catalyst for cryptocurrency adoption in 2019.

      PwC Asia’s Fintech and Crypto Leader Henri Arslanian has stated that “I think there is a lot of exciting things that the crypto ecosystem is looking forward [to] in 2019. One of them, I think, is really the entry of institutional investors”.

      Arslanian has also mentioned that more banks will possibly join the space, bringing their own solutions to challenges in the crypto industry, which will in turn spur adoption.

      Venezuela Experiences Largest BTC Buying Volume

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      Venezuela has seen that largest increase of Bitcoin (BTC) buying volume, as the country delves deeper into hyperinflation, and the government led by President Maduro attempts to convince citizens – and the world – to conduct trade in its controversial Petro (PTR) ‘cryptocurrency’.

      BTC volume traded on LocalBitcoins has increased 11%, up to 1,974 traded last week.

      With Venezuela forecasted to hit 11 million percent inflation by the end of 2019, Venezuelans are eager to explore other stores of value, with Dash usage in particular seeing a large increase as well.

      Blockchain Hype Permeates into Equities

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        Reported by Chinese state media, the Shanghai and Shenzhen stock exchanges have conducted research on 30% of companies listed on their platforms and have found that less than half were able to show applications for blockchain technology.

        However, the exchanges have reported that stock prices increased dramatically when news of blockchain utilization reached shareholders. From 80 companies that claim to use blockchains, 56 have seen a rise in price after the public was notified.

        China has always been in favor of blockchain utilization, even as it increasingly cracks down on cryptocurrencies.

        Binance Accused of Skimming from Listing ‘Donation’

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        In a lengthy article, Trustnodes has dissected the Binance listing fee policy, and the apparent favoritism shown to XRP.

        Binance has claimed that the listing fee is a ‘donation’ for which there is no fixed number, and will be donated to charity, but the article points out that since BNB is not a charity, it can “skim off the top of the donation and no one will ever know”.

        The exchange had quoted 400BTC ($2.6M at the time) from Expanse to list its token in August, but the article points out that apparently both XZC and XRP only ‘donated’ $175,000, an odd occurrence given the disparity between Expanse and Ripple projects.

        Read the full post here.

        More than 15% ICOs Questionable – WSJ

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        The Wall Street Journal (WSJ) has released research that suggest that around 15% of Initial Coin Offerings (ICOs) have serious red flags. 3,300 whitepapers have been analyzed for the research, of which around 513 were found to have plagiarized content, misrepresented founder identities and promises of unrealistic returns.

        Around 30 of the projects have invited regulatory scrutiny, while half the questionable projects had non-operating websites.

        As reported before, the Securities and Exchange Commission has begun cracking down on ICOs as unregistered securities, with projects having to pay fines and reimburse investors.

        ONT Smart Contract Tech Available Globally

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        Online marketplaces Microsoft Azure and Amazon AWS have added the Ontology (ONT) ONT_Dev_Platform. The platform is a dApp on the ONT blockchain built on a cloud service, and includes SmartX, the stand-alone test environment developed by the platform.

        The platform will enable users to compile, deploy and invoke smart contracts, and provides online editors as well. ONT has stated that users worldwide can now deploy its services in just one click (read the full post here).

        Waltonchain Releases Linux Wallet   

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        Waltonchain (WTC) has released its wallet version for the Linux operating system. The wallet is available at the Waltonchain Gihub page.

        The platform has warned users not to download the wallet from unofficial channels, and also to refrain from sending ERC-20 tokens to the wallet before the mainnet swap.

        Read the full announcement here.

        Ethereum ICOs Liquidating Holdings Quickly

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        Initial Coin Offerings (ICOs) that utilized Ethereum (ETH) to fund their projects have been increasingly liquidating their token holdings. December has been particularly harsh for ETH, with the Treasury seeing the highest number of withdrawals for the year, as projects withdrew 420,000 ETH.

        The data was released by research firm Diar, which has also indicated that November had a massive ETH selloff as well, with 290,000 liquidated, a majority by Tezos which sold 82K. Almost all tokens sold in December was by Filecoin, which liquidated its entire holding of the token.

         

        Silver Miller Files Lawsuit Against Coin Signals Owner

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          Crypto investor law firm Silver Miller has filed a lawsuit against the owner/ operator of Coin Signals, a person named Jeremy Spence for running an alleged ponzi scheme.

          Spence allegedly solicited investments via phony hedge funds through a company named Coin Signals, offering investors large returns while claiming to be a successful trader. However, evidence has been brought forth that Spence did not operate any hedge funds, but simply diverted a share of new investor funds to existing investors as ‘profit’, while keeping a large share for himself. The scheme is thought to have generated over $5,000,000 from investors.

           

           

          Litecoin Becomes Official UFC Crypto Partner

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          Litecoin (LTC) creator Charlie Lee has announced on Twitter that the cryptocurrency will be the Official Cryptocurrency Partner of UFC 232 – Jones v Gustafsson, to be held in Inglewood CA on the 29th of December.

          The partnership will see the cryptocurrency gain some much needed mainstream awareness, and has been hailed as “a milestone for Litecoin and cryptocurrency in general as no other coin has sponsored a UFC event to date”.

           

          9 Arrested for Drug Dealing Using Crypto

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            Nine persons have been arrested due to dealing drugs online utilizing cryptocurrencies in South Korea. The dealers had even set up a website and were using the darknet to conduct transactions, according to the Seoul Central District Prosecutor’s Office.

            A comparatively large customer base had been developed through the website, with 636 members active between March and November.

            Although cryptocurrencies have gained a reputation for facilitating illicit transactions, these are a fraction of total transactions, and law enforcement has increased its ability to track most transactions.

             

            Tron Comparisons to Ethereum Continue

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            With the Tron (TRX) blockchain repeatedly announcing its competition to Ethereum (ETH), users have compared the growth of the two blockchains. Data points to the fact that TRX achieved 1M accounts after a mere 184 days of its mainnet launch, a milestone that ETH took 542 days to reach.

            While the comparison is not exactly accurate due to crypto-awareness being much greater presently, it is undeniable that the Tron network is growing quickly.

            Ethereum is far ahead in adoption however, with the blockchain still being the most popular for crypto projects to launch their ICOs.

             

            Bithumb Wins Lawsuit Against User

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            Cryptocurrency exchange Bithumb has won a lawsuit filed against it in South Korea, by a user who was hacked for around $355,000.

            Exchange user Ahn Park had held the amount in his Bithumb account in Korean Won, which a hacker had exchanged for Ethereum (ETH) and transferred out of his account. Park had aimed to reclaim his funds in court.

            Pointing to another personal information breach, Park accused the exchange of not living up to its “fiduciary obligations”.

            A judge has agreed with Bithumb’s argument that it is not a financial company and not liable to reimburse Park. The exchange had also notified Park on the ETH transactions, and no proof was found that the personal information was lost by the exchange.

             

            ICON Touts Growth Despite Market

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            The ICON Network (ICX) has touted its increased “real-world” partnerships despite the bearish market and reduced investor interest. The project states that its mission is to “Hyper-connect the World”, by “building one of the largest decentralized networks in the world.”

            The project has an ambitious goal of providing one platform for a variety of services including education, insurance security and commerce.

            Twitter has had mixed reactions to the post, with some praising ICX while others have reacted with derisive comments to the post, asking to see practical uses and stating that partnerships are not a good barometer to a project’s viability.

             

            Bitcoin Has “Lower to Go” – Anthony Pompliano

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            Morgan Creek Digital Assets founder Anthony Pompliano has stated that despite the recent market uptick, Bitcoin (BTC) still has “lower to go”. Speaking with CNBC, Pompliano has claimed that BTC markets will only bottom out below $3000.

            Pompliano had been one commentator who accurately predicted the cryptocurrency’s fall to $3000, which occurred early December.

            Wazirx Exchange Confirms Record Trading Volume

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            Indian cryptocurrency exchange Wazirx has confirmed that it has been seeing record trading volumes monthly, as the cryptocurrency market has re-gained its volatility.

            CEO Nischal Shetty has stated that “the recent uptick in the crypto prices has gotten a lot of Indians trading again… whenever there is volatility, people forget the problems and start trading. That’s exactly the reason why we’re seeing our volumes shooting up so fast”.

            The Indian crypto market has consistently been under the pall of impending regulations, with the most recent news suggesting that a tightly regulated market may emerge.

            Bitmain Layoffs Bearish for LTC & BCH – Kyle Samani

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              As reported earlier, Bitcoin (BTC) mining hardware provider Bitmain has begun implementing layoffs, indicating that the firm may be running out of funds.

              Co-founder of Multicoin Capital Kyle Samani has suggested that Bitmain could liquidate its cryptocurrency holdings in order to stay afloat, a move that would have extremely adverse reactions for both LTC and BCH prices, since Bitmain holds about 1M of each token.

              It may be symbolic that a team working on a Bitcoin Cash were among those fired recently.

               

              MFG to Introduce Crypto as Remittances and Payments

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                Japan-based Mizuho Financial Group (MFG) has revealed plans to utilize cryptocurrencies as remittances and payments from March 2019, according to local news outlet Nikkei.

                The article has touted the low transaction costs of using cryptocurrencies and stated that the fees that retailers will need to pay for accepting crypto will be far less than those charged for credit cards. Transactions between digital wallets and bank accounts will be free as well.

                Around 60 banks have agreed to provide this service, according to Nikkei.

                Market Forces Exchanges to De-List Altcoins

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                  The bear market has seen cryptocurrency exchanges remove many altcoins citing “low liquidity” as the reason.

                  KuCoin had announced the disqualification of ten tokens such as bread, bitclave, wepower and ethland, while Huobi has stated that around 32 pairs are under review. The statement issued by Huobi read that “in order to promote the healthy development of the blockchain industry… Huobi regularly carries out comprehensive periodic reviews”.

                  Exchanges have come under pressure as well, accused of conducting “wash trading” of cryptocurrencies, signified by the rise in transaction volume while individual active users decline.

                  Bank of America Files for Blockchain ATM Patent

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                    Bank of America may be considering a foray into a network of ATMs backed by blockchain technology, according to a newly filed patent published by the U.S. Patent and Trademark Office (USPTO).

                    The patent describes a cash-handling device that utilizes blockchains to “accelerate transaction speed and/or facilitate other types of transactions in addition to ATM transactions like cash withdrawals and deposits, such as gift registry transactions”.

                    Blockchain technology will also help in handling a large number of transactions as well, according to the published document.

                    “Ethereum Will Rebound Aggressively” – BitMEX CEO

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                    Initial Coin Offerings (ICOs) will be back in vogue in 18 months, and “Ethereum (ETH) will rebound aggressively” according to BitMEX CEO Arthur Hayes.

                    In an interview with Cointelegraph, Hayes has stated that “when the ICO market returns, Ether will quickly test $200”

                    ETH price has approximately doubled from last week, trading at around $130 at press time.

                    Hayes also noted that “security tokens and stablecoin will prove attractive sirens for investors in 2019”.

                    Tokenomica Launches Security Token Issuance Platform

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                    Tokenomica has launched its security tokens issuance platform, which bills itself as one of the “first fully compliant” platforms in the industry. Built on the Waves (WAVES) blockchain, the platform will initially be released in beta.

                    Waves has touted the security token market as the “inevitable future” and noted that there are only a few platforms that cater to the demand, within a regulated framework. Tokenomica will enable the user to select the type of token they wish to create, as well as the jurisdiction for their project. The full blog post here.

                    CryptoBridge Adds Two Privacy Tokens

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                    Decentralized exchange CryptoBridge has announced that it has added support for both Monero (XMR) and Zcash (ZEC). The platform has stated that the additions are done in celebration of one of “the most fundamental principles underlying the cryptocurrency movement”, privacy.

                    Both tokens will be available to trade against Bitcoin (BTC) and Ethereum (ETH).

                    VCTRADE Begins Accepting Deposits

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                    SBI Holdings’ cryptocurrency exchange VCTRADE has announced that it will begin accepting customer deposits from the 21st of December. Accepted currencies are currently limited to XRP, Bitcoin (BTC) and Ethereum (ETH).

                    The exchange has stated that Bitcoin Cash (BCH) will be accepted in the future, and withdrawals will be enabled late January 2019.

                    Chilean Banks Appeals Anti-Monopoly Court Decision

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                    Two Chilean banks – Banco del Estado and Itau Corpbanca –  have filed an appeal to the nation’s anti-monopoly court to reverse its decision that prevents the closing of the bank accounts of local cryptocurrency exchanges.

                    A recent Supreme Court ruling found that banks could refuse to provide services to cryptocurrency exchanges, but a previous anti-monopoly court ruling still grants exchanges the protection of its decision. The banks have demanded that the court comply with the Supreme Court and revoke its previous ruling.

                    Coinbase CEO Joins The Giving Pledge

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                      Brian Armstrong, co-founder and chief executive officer of Coinbase Inc., stands for a photograph after a Bloomberg West Television interview in San Francisco, California, U.S., on Friday, May 30, 2014. Coinbase Inc. operates as an online financial service company providing online currency for general transactions. Photographer: David Paul Morris/Bloomberg via Getty Images

                      Coinbase CEO Brian Armstrong has become the first crypto entrepreneur to join The Giving Pledge, a charity program founded by Bill Gates and Warren Buffet.

                      Established in 2010, the platform was created with the idea of inspiring the wealthy to donate at least half their net assets to charitable causes. It has currently raised around $365B and spans 22 countries. Entrants are not obligated to donate any money, however.

                      Armstrong has written that he has always admired those “whose ambition to improve the world supersedes any goal related to personal wealth”.

                      WSJ Suggests BTC Purchasing Saves on Taxes

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                      A recently published article in the Wall Street Journal (WSJ) has suggested that the “only good thing about investing in cryptocurrencies [this year] was the tax break”. The publication has suggested that investors sell and re-purchase their Bitcoin (BTC) to save on taxes.

                      Wash sales”, which are prohibited in equity markets, are so far permitted in crypto markets, enabling the sale and immediate re-purchasing of assets legally.

                      Since the Internal Revenue Service (IRS) has so far treated cryptocurrency as an investment, the WSJ states that investors can benefit from the “special and often favorable” taxation policy that is currently implemented. “

                      Tron a Good Long-Term Investment – Kintaro Report

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                      As mentioned yesterday, Kintaro Capital has published its full report on the Tron (TRX) blockchain today. The analysis has concluded that while TRX is a mediocre short-term investment due to its low volatility, it has the potential to be an excellent long-term investment.

                      The report takes umbrage at the way the blockchain is governed, highlighting how little influence a community member has in swaying a decision regarding governance. Freezing TRX can generate some passive income, and the report finds that the blockchain has lived up to its promises up to now.

                      The purchase of BitTorrent has given TRX a boost in credibility says Kintaro, and its integration of privacy features – zk-SNARKS – is seen as an essential, as the blockchain mostly caters to betting and the adult industry currently. Overall, TRX is a promising project for the future, according to Kintaro, access the full report here.

                       

                       

                       

                      Wyoming Partners with Overstock

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                        The state of Wyoming has partnered with Overstock, in order to implement blockchain technology to store land records.

                        A memorandum of understanding has been signed, with Overstock tasked with developing a” blockchain-based land records and information platform” in 2019.

                        Sherry Daigle of the Teton County clerk’s office has stated that “we are proud to see Wyoming lead the way in implementing cutting-edge technologies, such as blockchain, into existing markets like land registry”.

                        Bitfinex Enables Margin Trading for USDT/USD

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                        Cryptocurrency exchange Bitfinex has opened margin trading for USDT/USD trading pair beginning at 1130 UTC.  The exchange has stated that this is in line with market evolution and consumer demand.

                        The addition will “allow for more efficient price discovery… and unlock the ability to hedge the exposure taken on stablecoins”. The full blog post can be accessed here.

                        Bermuda Releases Draft of Regulations for Comment

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                          The Bermuda Monetary Authority (BMA) has released a draft Code of Practice for Digital Asset Custody and invited the public to comment on the proposed laws. Feedback can be given until the 18th of January 2019, and the regulations aim to protect investors with regard to digital asset custody.

                          Senior Adviser at BMA Moad Fahmi has stated that “the [regulatory] framework was built with the aim of making sure that the core objectives of financial regulation are respected, that is: protecting consumers, ensuring stability of our institutions and maintaining integrity and confidence in financial markets”.

                          Facebook Stablecoin Sparks Community Debate

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                            As reported earlier, Facebook is creating a stablecoin to be used within the popular WhatsApp messaging service. The news has sparked a debate on social media if the development is a positive or negative for the industry.

                            Prominent crypto community members such as Anthony Pompliano and Binance CEO Changpeng Zhao (CZ) have been bullish on the development, with CZ stating that “it’s about time. There’s no reason for any IM app not to issue their own utility token.”

                            However, skeptics have pointed out that Facebook’s entrance into the industry could devalue words such as ‘crypto’ and ‘blockchain’, with the social giant having gained an unsavory reputation with recent developments.

                            Coinbase President Unsurprised on Crypto Rally

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                              In an interview with CNBC’s “Fast Money” hosted by Melissa Lee President and COO of Coinbase Asiff Hirji has expressed bullish views on the latest rally of the cryptocurrency market, nicknamed the “Santa Claus Rally”.

                              Hirji noted that last year with BTC price hitting $20,000, the platform officials received negative coverage for asking the community to be cautious, and that “sometimes things can get ahead of fundamentals”. This time around, with the number of innovative products now in the markets, “it’s not surprising to me that we’ve had a bit of a bounce back”.

                              Ebang Re-Files for IPO, Notes Decreases in Revenue

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                                Cryptocurrency mining equipment provider Ebang has re-filed for its Initial Public Offering on the Hong Kong Stock Exchange (HKEX) after its initial filing application lapsed. In the new filing, the company has noted “significant decreases” in revenue in keeping with the general trend and market declines.

                                The company has stated that “we experienced significant decreases for the three months ended September 30, 2018 compared to the preceding three months ended June 30, 2018.”

                                Canaan Creative had allowed its filings with HKEX to lapse, as reported earlier, with recent reports indicating that Bitmain’s IPO filings in doubt as well.

                                Upbit Faces Accusations of Wash Trading

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                                South Korean cryptocurrency exchange Upbit is facing accusations of inflating trading volumes and misappropriating investor funds. The exchange has allegedly placed around $226.2B worth of false orders, and the Financial Services Commission (FSA) has charged its former CEO and two employees for utilizing investor funds to manipulate trade volumes.

                                The exchange had denied these allegations, stating that these transactions around 3 months old and “current transactions have nothing to do with the case, and Upbit’s service is operating as usual”.

                                As reported previously, data released by the Blockchain Transparency Institute has found that most crypto exchanges utilize wash trading to inflate trading volumes.

                                Cryptocurrency Wins Bank of England Twitter Poll

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                                  The Bank of England had opened a Twitter poll earlier this week, asking the community of their favorite ways of sending money gifts at Christmas. The options given were cash, bank transfer, gift voucher and digital currency, and perhaps unsurprisingly, a majority had chosen the new currencies as their medium of choice.

                                  UK regulators have yet to set any legal framework for cryptocurrencies, and the community has speculated that this is a covert way for the Bank to gauge public interest before making any moves into the market.

                                  Tom Lee Stops Predicting BTC Price

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                                  Fundstrat analyst and perpetual Bitcoin (BTC) bull Tom Lee has stated that he will no longer be predicting BTC prices.

                                  Lee had predicted BTC price increasing to $25,000 by the end of the year, before reducing to $20,000 and then to $15,000 as prices failed to materialize. Lee has stated that “we are tired of people asking us about target prices… because of the inherent volatility in crypto, we will cease to provide any time-frames for the realization of fair value”.

                                  Konfid.io to Publish Report on TRON

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                                  Blockchain venture studio Konfido.io will be publishing a report on the Tron (TRX) blockchain tomorrow, with analysis conducted by Kintaro Capital.

                                  The report begins with detailing Tron’s development journey, mentioning the accusations of plagiarism leveled at its whitepaper while its operations – Mainnet launch, TVM etc – ran smoothly. It includes details from the blockchain’s 9-year development plan and delves into the centralizing effect of the Super Representatives.

                                  The report raises some concerns as well; such as the possibility of Tron’s ‘burn account’ having a private key, and even though transactions have increased greatly, only 2.3% accounts are active.

                                  An update will be posted along with the full report when published.

                                  Tokensoft Partners with Coinbase Custody

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                                    Security token offering (STO) platform Tokensoft has partnered with the custody arm of crypto exchange Coinbase, to provide its customers with additional custody options. STO issuers now have a choice in placing assets with Tokensoft itself, or third-party solutions.

                                    Coinbase Custody will provide custody, insurance and auditable control of assets, for clients choosing its service, while Tokensoft manages compliance, regulation, distribution and exchange relationships.

                                    General Manager of Coinbase Custody Sam McIngvale has stated that “report are projecting the STO space to be worth many hundreds of millions of dollars over the next five years”, and the partnership aims to provide these tokens with a “one-stop-shop” service.

                                    ConsenSys Layoffs to Continue, 50% Cut Speculated

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                                    Ethereum design studio ConsenSys had fired around 13% of its staff earlier this month, citing financial streamlining and the crypto bear market. However, according to a CoinDesk report that cites “multiple sources”, the layoffs may continue, with around 50% of the company’s 1200 strong workforce at risk of being fired.

                                    The studio will be stopping funding for a number of its portfolio startups or “spokes”, resulting in the staff reduction.

                                    The community has speculated that either the platform had hired too many individuals during its expansion, or had not planned well enough to convert enough Ether to fiat to pay for operations.

                                    Only 10% of Monero Left to Mine – Monero Blocks

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                                    Monero Blocks, a data monitoring resource for the Monero (XMR) blockchain has confirmed that 90% of the total supply of XMR has been mined, with the last 10% expected to be completed by May 2022. The finally tally will be 18.4M XMR.

                                    However, even after all XMR tokens have been mined, the blockchain will allow miners to earn 0.6 XMR per block, known as “tail emission” in order to keep miners operating and keep the network secure.

                                    The XMR team has reassured the community that XMR will not be inflationary, stating that lost or burned coins will equal the small amount of XMR being mined after the total supply is met.

                                     

                                    Dusk Network Announces First STO

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                                      Dusk Network (DUSK), a blockchain platform with the ambition of becoming the “Ethereum for STOs” has announced the first security token offering on it network, as reported by Crypto Briefing. Maltese real-estate company BWRE will launch its token of the same name on DUSK, aiming to raise $24M in funding.

                                      STOs launched on Dusk are fully regulatory-compliant, and native DUSK tokens will act as the standard, while investors may communicate and exchange tokens on the platform as well. The BWRE STO is slated to begin during Q2 of 2019.

                                       

                                      Peter Thiel Backs Layer1 Startup Funding Round

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                                        NEW YORK, NY - NOVEMBER 03: Partner at Founders Fund Peter Thiel participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City. (Photo by Neilson Barnard/Getty Images for New York Times)

                                        Co-founder of PayPal Peter Thiel has backed a $2.1M seed investment round for cryptocurrency investment startup Layer1, according to statement released by the firm.

                                        Layer1 is a multi-purpose platform, which is primarily focused on investment and engineering infrastructure, but will also back promising blockchain startups by building supporting technology. CEO Alexander Liegl has stated that “cryptocurrencies, as open-source protocols, offer the unprecedented opportunity for companies… to meaningfully add value. This is fundamentally different from the possibilities available in traditional asset classes”.

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