UPDATE (May 6, 17:50 UTC): This article has been updated to clarify that the claim about Tron receiving a loan in the event of a pandemic came from the project’s Chinese social media channels and to include a statement from a spokesperson for Tron in the United States
Justin Sun’s Tron platform said it received a $ 2 million pandemic loan for small businesses. Coinbase has raised employees from the now defunct startup TokenAnylist while BlockFi has hired two executives from Credit Suisse and American Express to join its lending company. Here’s the story:
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Daily transmission of BitMEX transactions could increase Bitcoin’s fees. The exchange broadcasts thousands of transactions simultaneously around 13:08 UTC (9:08 ET), leading to an increase in fees every day, claims the pseudonym Bitcoin 0xb10c researcher.
Crypto in emerging markets: Africa
Binance, Akon and other cryptocurrency pioneers are betting that the future of money will be defined by African markets, where cryptocurrency awareness and usage has increased dramatically over the past year. The volume of trade has steadily increased across the continent, with a notable peak during the COVID-19 crisis.
Conform or die
Dutch cryptocurrency companies must register with the central bank of the Netherlands by May 18 or stop operations immediately, the monetary authority said Monday. De Nederlandsche Bank is moving quickly to enforce Dutch anti-money laundering laws, passed by the Dutch parliament last month.
The CEO of fintech firm iSignthis accused the Australian Securities Exchange (ASX) of abusing its position as a market leader by trying to delay the launch of ClearPay, a blockchain-based trading system on rival National Stock Exchange of Australia (NSX) .
Removals and agitators
- Nerve incubator Nervos has launched CK Labs, a virtual incubator, for early stage startups building decentralized applications (dapps) on its public blockchain platform. The platform is led by Ben Morris, a veteran of Status, an Ethereum-based messaging platform.
- Coinbase consolidation Crypto intelligence firm TokenAnalyst closed after nearly three years in business. Several employees were collected by Coinbase, a rep confirmed.
- Traditional assumptions Cryptocurrency lender BlockFi is adding two traditional financial executives to help the company launch new products and expand into new markets. Former American Express executive Wittney Rachlin will join as chief growth officer and former Credit Suisse executive David Olsson as global CEO of European and Asian markets.
All But Omni
Tether’s growth is hitting all-time highs across multiple blockchains, but the first protocol to support Tether is being left behind. Omni Layer, based on Bitcoin, has experienced negative growth in Tether transactions for the past 12 consecutive months.
Bitfinex reported revenues of $ 21.4 million in the first quarter of 2020. This represents almost a doubling of revenues compared to the first quarter of last year. (The block)
Swedish startup ChromaWay aims to make land ownership in Bolivia, Peru and Paraguay more transparent by putting records on a blockchain. The company announced its LAC PropertyChain pilot project on Tuesday.
Justin Sun Tron’s blockchain platform will receive $ 2 million in coronavirus aid in the United States for wage protection … at least, according to a message sent to the project’s WeChat and Weibo channels. (Decrypt)
Translated from the Chinese, the message read: “US government funds, on the one hand, prove that TRON is legally compliant in the US and has the backing of the US government. On the other hand, it also proves that the TRON team is recognized at home and abroad. “
However, when it arrived Wednesday, a spokesperson for Tron in the US was more ambiguous, telling CoinDesk: “We are a private company and as this is a financial matter, we cannot comment. I am happy to share, however, that our first priority is to always follow the laws / rules / regulations of the governing bodies in which we build our world community. “
The Small Business Administration (SBA), the agency that oversees the salary protection program, declined to comment.
Capital of seeds
Bitcoin mining company VBit DC has brought in a $ 1.1 million funding round to build a mining operation in Alberta, Canada. (The block)
Power to burn
Ukraine’s energy minister advised the country’s state-owned nuclear power operator to consider using excess electricity to mine cryptocurrencies. Last week, a Chinese city asked blockchain companies to absorb the extra hydropower produced during the upcoming rainy season. (The block)
Deepening on privacy
As the coronavirus crisis puts pressure on tech startups, privacy-focused companies are destined to last. A reliance on intrusive privacy contact traceability and “identity passports” to combat viral spread is leading to a conscious effort to prevent data fragmentation and personal data leaks. “The shift to remote work and widespread use of shadow IT devices has multiplied the cybersecurity risks,” said Radoslav Dragov, Blockchain Lead for Europe at IDC, creating a huge opportunity for security-focused companies.
CoinDesk Live: Lockdown Edition
CoinDesk Live: Lockdown Edition continues his popular bi-weekly virtual chats via Zoom and Twitter, giving you a preview of what’s to come Consent: distributed, our first completely virtual and completely free conference from 11 to 15 May.
Register to attend our seventh and final session on Thursday 7 May, with speaker Felipe Duarte of DAOCanvas to show you how to create your own DAO, hosted by Consensus organizer Bailey Reutzel. Zoom attendees can ask questions directly to our guests.
Bitcoin jumped to a high of $ 9,220 at 10:20 UTC on Wednesday, having stabilized above $ 9,000 the day before recording its first close above that psychological support in two months. Open interest – or the number of futures contracts outstanding on the CME – rose to $ 351 million on Tuesday, the highest level since July 10, 2019.
A new token allows traders to make money every time the bitcoin price drops. Swiss fintech firm Amun launched its daily reverse token BTCSHORT (BTCS) on Wednesday, which returns a gain based on the reverse price movements of bitcoin (BTC) over a given 24-hour period.
CoinDesk Monthly Review: April 2020
CoinDesk Research’s monthly review of crypto markets examines the yields, volatility and correlations of bitcoin, ether, and other crypto assets, all in a macro context. Additionally, we monitor the growth of stablecoins and see what past halvings can tell us about the upcoming one. The report can be downloaded for free.
CoinDesk podcast network
Why cryptocurrencies are important for financial inclusion, with Marek Olszewski of Celo.
Who won #CryptoTwitter?
Ada Hui contributed to the reporting.