Cryptocurrency Daily News Bulletin: January 9, 2019

January 9, 2019 1:21 pm Published by

General News

Canaan, the China-based bitcoin mining giant, is reportedly considering an IPO in the U.S. following hesitancy from the Hong Kong Stock Exchange (HKEX) to approve their application. A Bloomberg report citing people with “knowledge of the matter,” said Canaan’s IPO could be launched in the first half of this year in New York.

ShapeShift is the latest crypto startup to announce a round of layoffs. CEO Erik Voorhees wrote the startup had laid off 37 employees; a third of its staff. Besides the mounting legal concerns that have impeded the entire industry, Voorhees contended the company grew too fast and so got hit hard by the tough market climate. Additionally, the company’s decision to begin doing KYC checks on customers caused a large loss in clients.

Japan’s Financial Service Agency (FSA) is reportedly looking to close a legal loophole that lets unregistered investment firms solicit funds in cryptocurrencies rather than cash; bringing such schemes under the country’s Financial Instruments and Exchange Act.

Pakistan-based subsidiary of global telecommunications giant Telenor has launched a blockchain-based cross-border remittance service powered by Ant Financial’s AliPay to facilitate remittances between Malaysia and Pakistan.  

Russian economist, Vladislav Ginko, claims the government is about to pour $10 billion into Bitcoin. The lecturer at Moscow’s Russian Presidential Academy of National Economy and Public Administration, says US sanctions are forcing Russia to diversify.

Cryptocurrencies

Ethereum Foundation $152.79 USD (1.01 percent) has just awarded a $5 million grant to Parity Technologies to support the firm’s work building the blockchain network’s next iteration, Ethereum 2.0. The funding is a “scalability, usability and security” grant, aimed at boosting work on Casper, a proof-of-stake protocol upgrade, and the scaling solution dubbed sharding, as well as light clients, developer tools, audits and infrastructure improvements.

Ethereum Classic’s $5.09 USD (0.92 percent) woes continue as another exchange, Gate.ioconfirmed the 51 percent attack and they will absorb a loss of roughly $200,000 worth of Ethereum classic – about 40,000 ETC – in light of a series of ongoing blockchain history rewrites. Gate.io have also identified three addresses it said are tied to the attacker in question and have announced they will take all the loss for the users.

Ripple’s $0.370735 USD (1.96 percent) client base continues to grow with now Euro Exim Bank, a London-based bank primarily focused on providing financial services for import/export companies, becoming the first bank to publicly announce it is using XRP for cross-border payments. Ripple also announced payment startups JNFX, SendFriend, Transpaygo and FTCS will be leveraging XRP. Further, Ahli Bank of Kuwait, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND and Rendimento have signed onto RippleNet; growing their network to more than 200 clients.

Tron $0.027553 USD (5.95 percent) has jumped 34% this week as they recently released a white paper describing how the new BitTorrent Token (BTT) will work. Tron says it has also added more than 24 decentralized apps (DApps) since the start of the year, including the Everdragons platform and World War Goo. Both have migrated over from the Ethereum network as the game developers cite Tron’s “faster transactions to deliver a smoother experience.”

– WN.com, Jamie Saarloos



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