Brokers and banks in crypto

This past summer, a Switzerland-based blockchain investment company called CV VC, and a Swiss audit and advisory firm known as PwC, in collaboration with Cointelegraph, put together an in-depth report on the top blockchain companies and what they are up to in their distinct sectors. The report lists eight separate categories. Cointelegraph hosted a previous panel on Sept. 9 discussing blockchain’s impact on the art industry — the first category on the list. Moving down that list, Cointelegraph hosted a second live panel on YouTube on Sept. 22, talking about…

Crypto mining activities are now regulated by the Venezuelan gov

Venezuela’s National Superintendency of Crypto Assets and Related Activities, or SUNACRIP, has issued the first decree to officially regulate all crypto mining activities. In order to qualify, miners will need to meet specific requirements. An official announcement was first published in the Gaceta Oficial and signed by the head of the SUNACRIP, Joselit Ramirez. It stated that residents in Venezuela who are interested in mining Bitcoin (BTC) and other cryptocurrencies must request a license and join the so-called “national pool.” The legal framework asks people to disclose what kind of…

Could holding 0.28 BTC could put you in the 1% wealth bracket?

A large portion of Bitcoin’s (BTC) value lies within its limited 21 million coin supply, which means ownership of a small portion could lead to significant wealth — if mass global adoption occurs.  “There is only 0.0027 BTC for the current 7 billion people,” trader, Bitcoin evangelist, and Twitter personality Davincij15 said in a Sept. 22 tweet, noting the worlds total population in relation to Bitcoin’s total supply. Davincij15 is known for his early Bitcoin commentary, which harkens back to the asset’s early days in 2011. “If you HODL 0.28 BTC, and…

Part 3 — The extraterritorial reach of US securities laws

As mentioned in the first and second parts of this story, on March 24, 2020, in a widely reported and closely followed decision, Judge Peter Castel imposed a sweeping preliminary injunction preventing Telegram from issuing its planned crypto asset, Grams. Shortly thereafter, the judge clarified his initial ruling by explicitly holding that the injunction applied to all sales worldwide regardless of where the original purchasers might be located. Efforts by Telegram to see that the Grams would not easily be resold into the United States were unavailing. This part of…

Russian government prioritizes Blockchain development

Russian First Deputy Prime Minister Andrey Belousov, addressing the higher chamber of the Russian parliament on Wednesday, named blockchain as one of the technologies that the government will prioritize in the near future. Belousov said that the government will support technologies that facilitate the interactions between the state and the largest corporations. In addition to blockchain, he named a number of other key technologies: AI, quantum computing, new materials, quantum sensing, microelectronics, Internet of Things, 5G technologies, quantum communications and energy. Belousov also said in order to foster the development of…

Can ‘LiteBringer’ do what it says on the tin?

Among the many current and upcoming blockchain-enabled gaming titles, LiteBringer promises something different. It claims to be the first game running entirely on the Litecoin blockchain. But can it live up to its name, and bring players Litecoin (LTC)? There was only one way to find out… Pay to play The first thing to note about LiteBringer is that it really is played directly on the Litecoin blockchain. Every move that you make is a transaction and will require a mining fee (currently around 0.0014 Lites). You will also need…

DeFi and security not mutually exclusive, say CertiK and Binance Smart Chain Reps

Keeping pace with the rapidly developing decentralized finance, or DeFi, niche within the crypto industry, major crypto exchange Binance has called on blockchain auditing company CertiK to beef up its platform’s security.  “The rapid innovation and experimentation of DeFi is what makes it so great, but speed should not compromise security,” CertiK’s chief operating officer, Daryl Hok, told Cointelegraph.  “We’re providing a way for early adopters to continue to reap the benefits without having to be the guinea pigs bearing the brunt of the risk. As security experts in the field,…

Huobi crypto exchange launches trading app in Russia

Major cryptocurrency exchange Huobi Global is expanding in Russia by rolling out its native mobile app in the country. Users in Russia can now access Huobi’s spot market and trade major cryptocurrencies like Bitcoin (BTC) through its mobile app, the firm announced on Sept. 23. By introducing the app in Russia, Huobi wants to further expand in one of its most important markets. Russian users account for as much as 10% of Huobi’s total spot trading volume, an exchange representative told Cointelegraph. Ciara Sun, vice president of global markets at…

Europe’s central bank is concerned about possible runs on stablecoins

The European Central Bank has warned the global community about the risks of so-called “stablecoin runs.” Analogous to the term “bank runs” in the traditional financial system, stablecoin runs could occur if end users lose confidence in the issuer or its network, the ECB wrote in a Sept. 22 report. In traditional finance, a bank run occurs when a large number of customers withdraw their deposits simultaneously over concerns of the bank’s solvency. As more people withdraw their funds, the probability of default increases, triggering more withdrawals. The ECB goes on…

Robinhood cashes in on lockdown trading surge with $660M Series G funding

Retail traders have been flocking to trade stocks and cryptocurrencies on the popular app Robinhood — and it shows in the company’s latest Series G funding round. On Sept. 23, a spokeswoman for Robinhood Markets Inc. disclosed that the fintech has increased its latest funding round to $660 million, at a company valuation of $11.7 billion. The fresh funding is an extension of a Series G round first announced in August, when D1 Capital Partners invested $200 million in Robinhood. New and stalwart investors in the app have reportedly been…