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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”. http://bit.ly/2MXXviI

GCR interviews with Xu Xin, CEO of Sparkpool- the largest Ethereum Mining Pool in China. http://bit.ly/2MXx6S3

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. http://bit.ly/2UAAhzW

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. https://on.wsj.com/2HOK68u

GCR’s written interview with Liquid CEO Mike Kayamori. http://bit.ly/2MZUeiX

💰

Investments

HTC, a leading Taiwanese electronics company, has invested in the blockchain startup, Bitmark along with Alibaba in series A funding round of $3mn.https://prn.to/2HQzPZg

Sinochem and PetroChina, two state-owned Chinese oil firms hopes to raise $15 million to build a blockchain platform for the petroleum trade. http://bit.ly/32ykaG5

FIO protocol nets $5.7 million Series A led by Binance Labs to make wallet transactions more user friendly. http://bit.ly/2m1NGEc

UK-based crypto research startup Elliptic raises $23m Series B led by Japan SBI Holdings.http://bit.ly/32ytyJA

₿ 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.http://bit.ly/2MYHBo9

💸

  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”.  http://bit.ly/2LrK87m

OKCoin is pledging 1000 bitcoins to Bitcoin/Bitcoin Cash commmunity/Bitcoin SV. http://bit.ly/2MXYiAc

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). http://bit.ly/2MYlqP8

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. http://bit.ly/2LwH6yn
Additionally, Huobi has announced it is partnering the University of Gibraltar on blockchain-focused academic initiatives. http://bit.ly/2Uydc13

The number of addresses sending the token to the Bitfinex trading platform is at a two-year low. https://bloom.bg/2MXmliJ

Paxos Launches Gold-Backed Cryptocurrency.http://bit.ly/2MXYsHO

🧳 Business

Facebook’s WhatsApp is looking to hire a blockchain regulation expert in Sub-Saharan Africa. http://bit.ly/2MYlb6G

Chinese oil giant Sinochem’s unit plans blockchain platform with Shell, Macquarie. https://reut.rs/2HNzSVT

K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency.http://bit.ly/32yo15M

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. http://bit.ly/32ytFou

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. http://bit.ly/2LwawN4

 Regulations

Tokyo Metropolitan Government plan to issue original digital currency. http://bit.ly/32sGroE

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. http://bit.ly/2PPYVhw

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.”http://bit.ly/2MYmUc0

Chinese authorities arrested fifteen men suspected of corrupting an internet café administrator to mine cryptocurrency. http://bit.ly/30YwrmQ

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