Cryptocurrencies were trending lower Wednesday morning, extending a trend witnessed since late Tuesday. Market sentiment was likely dampened by regulatory moves in Asia. Meanwhile, a Goldman Sachs-backed crypto finance startup raised funding from a mining giant to develop a stablecoin.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Goldman Sachs Backed Crypto Startup Circle Raises $110 Mln
Cryptocurrency startup Circle Internet Financial Ltd, which is backed by Goldman Sachs, closed a $110 million Series E fundraising round led by Chinese bitcoin mining giant Bitmain Technologies Ltd. The financial startup is now worth about $3 billion. The mobile payments and cryptocurrency trading firm has also partnered with Bitmain to launch fiat-based digital tokens, through Circle affiliate CENTRE project. Read more...
South Korean Regulators Target Crypto Exchanges' Corporate Accounts
South Korean financial regulators are tightening the noose on the country's cryptocurrency exchanges. In the latest move, Financial Services Commission (FSC) has announced that it is widening its investigation into the cryptocurrency exchanges' use of corporate accounts, which the regulators say, can lead to money laundering. Read more...
ICON Announces Huge Partnership With Line To Build DApps On Blockchain Network
ICON, a project aiming to build a decentralized network for independent blockchains, announced a massive partnership with Japan's LINE Corp. for blockchain development. The South Korean startup ICON and the social platform LINE PLUS launched a joint venture called Unchain to develop various decentralized applications or DApp services and to build synergies to expand the blockchain ecosystem. Read more...
Bitfinex Partners Connamara To Launch FIX Gateway For Institutional Traders
Crypto exchange Bitfinex has partnered with software company Connamara to launch an open-source Financial Information eXchange or FIX, digital asset gateway for institutional traders aiming to enter the digital asset . "Through this collaboration we aim to combine Connamara's financial technology expertise with our experience to improve the efficiency of digital asset markets and allow for streamlined access to cryptocurrency trading," said Paolo Ardoino, Bitfinex CTO. Read more...
HTC Plans To Launch New Blockchain-powered Phone 'Exodus'
Taiwanese company HTC plans to make a new blockchain-powered Android phone, named Exodus. The phone, which might be the world's second blockchain-powered smartphone, will support Bitcoin, Ethereum, and other major cryptocurrencies, reports said. It will have a universal wallet, secure hardware, and decentralised apps. Read more...
Florida's Seminole County To Accept Taxes In Cryptocurrencies
Florida's Seminole County has partnered with bitcoin payment service provider BitPay to start accepting cryptocurrencies such as Bitcoin (BTC) and Bitcoin Cash (BCH) for payment of taxes and other services starting this summer. It is probably the first U.S. government agency to accept cryptocurrency. Read more..
Crypto Lexicon - STABLECOIN
Stablecoins are cryptocurrencies whose values are pegged to something else of value such as a US dollar or gold. Price stability and decentralized nature are the two main features of stablecoins. Read more...
As of 9.16 am ET on Wednesday, Bitcoin was down by 3.97 percent at $8,368.00 and Ethereum was higher by $704.10 on Coinbase.
by Jyotsna V