Today’s Asia Crypto News- June 13, 2018

Chinese nationals are establishing hundred billon funds in Singapore; Ripple CEO says China is under-reported; Binance offer fiat trading

I just watched this video of Jihan Wu, CEO of Bitmain, and the Circle co-founders when they were at Consensus 2018. Bitmain then just led Circle’s $110mn Series E round. What struck me the most was that Jihan, sitting in the center between the 2 founders, is wearing a plain, white t-shirt while the other 2 speakers were so suited up. Are the Chinese tech leaders taking a playbook from the Americans?

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Top News

“I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China.”- Garlinghouse, CEO of Ripple.

Thousand of crypto funds with combined capital of hundreds of billion of RMB are currently being established in Singapore by Chinese nationals.

Binance to offer fiat-crypto trading via Malta-Based platform in a separate exchange.

Inside the chaotic launch of a $4bn crypto project by WSJ.

Coin and Exchange News

CertiK will provide technology to help ensure DApps and smart contracts on the Nebulas blockchain are secure, reliable and resistant to hacking.

VeChain and German company Deutsche Bahn to develop DApp for China’s Logistics Industry.

Business and Regulation News

Potentially the first case in Japan where illegal use of computers in cryptocurrency mining becomes a criminal case.

Korea Telecom subsidiary seeks to apply blockchain technology to satellite communications.

Some banks had identified suspicious transactions at Coinrail, the Korea exchange that was hacked $40mn over the weekend, and stopped providing services to the company months before the incident.

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