Friday News Roundup

Friday News Roundup

Top News from Tuesday to Today

Twitter CEO Dorsey says that Twitter will not seek to challenge Facebook’s Libra—or any other commercially run cryptocurrency project—by creating its own coin. Instead, Dorsey’s preference is for “existing, open standards”.

GCR interviews with Xu Xin, CEO of Sparkpool- the largest Ethereum Mining Pool in China.

Japanese messaging giant LINE has just received a license to operate the cryptocurrency exchange business in the country,  will allow the firm to offer cryptocurrency trading services to its over 80 million users.

The Libra of Korea,  Klatyn blockchain, has partnered with Samsung. A new Samsung phone is coming out this week, called “Klatynphone”, which will allow buyers to receive Klay, and come installed with blockchain apps and wallet.

GCR’s written interview with Liquid CEO Mike Kayamori.



HTC, a leading Taiwanese electronics company, has invested in the blockchain startup, Bitmark along with Alibaba in series A funding round of $3mn.

Sinochem and PetroChina, two state-owned Chinese oil firms hopes to raise $15 million to build a blockchain platform for the petroleum trade.

FIO protocol nets $5.7 million Series A led by Binance Labs to make wallet transactions more user friendly.

UK-based crypto research startup Elliptic raises $23m Series B led by Japan SBI Holdings.

? Coins and Mining

According to data from Longhash, the average return on investment (ROI) from IEOs, running this year on the top 11 IEO platforms, was minus 80 percent.


  Exchange News

Bitfinex shareholder Zhao Dong has claimed that sister firm Tether plans to release a version of the stablecoin backed by a basket of commodities such as gold, crude oil and rubber. Additionally ““Tether is backed at least 83.75% by USD”.

OKCoin is pledging 1000 bitcoins to Bitcoin/Bitcoin Cash commmunity/Bitcoin SV.

Binance launching its own USD-pegged stablecoin ‘BUSD,’ with Paxos as custodian. The stablecoin received the blessing of the New York Department of Financial Services (NYDFS).

Huobi-invested startup Whole Network plans to launch its blockchain-powered smartphone Acute Angle in Southeast Asia next week, priced at $515. Users can buy their own Acute Angle phones using Huobi Tokens.
Additionally, Huobi has announced it is partnering the University of Gibraltar on blockchain-focused academic initiatives.

The number of addresses sending the token to the Bitfinex trading platform is at a two-year low.

Paxos Launches Gold-Backed Cryptocurrency.

? Business

Facebook’s WhatsApp is looking to hire a blockchain regulation expert in Sub-Saharan Africa.

Chinese oil giant Sinochem’s unit plans blockchain platform with Shell, Macquarie.

K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency.

The blockchain-based forfaiting trading platform launched by a line of Chinese banks has reportedly processed over 20 billion yuan ($2.8 billion) in trading volume in less than one year since its rollout last year.

SK Securities, a branch of South Korea’s largest telecom SK Group, has partnered with a local blockchain firm for a digital real estate beneficiary platform.

? Regulations

Tokyo Metropolitan Government plan to issue original digital currency.

Thailand’s Bitcoin Co Ltd’s recent closure announcement is unlikely to have a negative effect on Thailand’s digital asset industry because there are about 10 other companies applying to become authorized digital asset exchanges, says the Securities and Exchange Commission.

Taiwan is making big progress toward its new digital card for the 24 million citizens. The most recent development, according to a report, is that the country’s cabinet in late August approved a plan “to issue electronic identification cards that combine the functions of the existing national ID cards and Citizen Digital Certificates starting October 2020.”

Chinese authorities arrested fifteen men suspected of corrupting an internet café administrator to mine cryptocurrency.

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