Bitcoin Tumbles After $35 Million Trade Triggers Wave of Selling
The price of Bitcoin tumbled by 11% to about $7,000 after a $35 million sell order on London-based exchange Bitstamp triggered a rash of liquidations by other investors. Other digital currencies like Ethereum, Litecoin, XRP and Bitcoin Cash fell in sync.
tags: Fintech CryptoAssets Bitcoin AltCoins
Facebook forms Swiss fintech firm with payments focus
Facebook has set up a new Fintech company, Libra Holdings, in Switzerland focusing on blockchain and payments as well as data analytics and investing, Geneva’s commercial register shows.
Coin Metrics Report Highlights Discrepancies in Ripple’s Escrow System Reporting
Blockchain analysis company Coin Metrics has found discrepancies in blockchain payments network Ripple’s escrow system reporting.
tags: CryptoAssets Fintech Ripple AltCoins
Bahamas Securities Regulator Proposes Rules for Token Sales
On April 2 the Securities Commission of the Bahamas has filed a draft of the new bill regulating token offerings not deemed securities. The bill lays out a procedure for registering such offerings and informing authorities and investors on the details of a token sale.
tags: Fintech CryptoAssets Regulation
Fintech Collaboration between the Hong Kong Monetary Authority and the Bank of Thailand
The Hong Kong Monetary Authority and the Bank of Thailand have entered into an MOU to foster collaboration between the two regulatory authorities in promoting financial innovation.
tags: Fintech Regulation
Banks to invest around $50 million in digital cash settlement project
Several of the world’s largest banks are investing around $50M in Fnality to create a blockchain-based digital cash system to settle financial transactions. It may be an offshoot of the UBS and Clearmatics “utility settlement coin” project.
tags: Fintech Blockchain Stablecoins
Digital Renminbi: A Fiat Coin to Make M0 Great Again
Contrary to what many think, China does not oppose blockchain technology. Rather, it takes issue with bitcoin and other privately issued cryptocurrencies, which it fears may facilitate financial fraud and capital flight. The PBOC has in fact had an initiative for issuing a blockchain-based digital renminbi since 2014. The project has already generated 71 patents and has initiated a trial operation for an interbank digital check and billing platform.
Aries and ION: Two Different Perspectives of Decentralized Identity in Blockchain Applications
IBM and Microsoft have released new technologies focus on tackling the challenge of identity on permissioned and public blockchains respectively. The approaches are different but they give us a glimpse of how innovation is evolving in this space.
tags: Blockchain Fintech Identity
Another Gold Backed Token Launches
A new digital token backed by $300 million worth of gold guaranteed by the Chinese Gold and Silver Exchange has just been released in Hong Kong.
tags: Tokenization Stablecoins CryptoAssets AltCoins Fintech
Six hackers charged over SIM swapping attacks
Six individuals from ‘The Community’ hacking group have been charged with stealing over $2.4 million in cryptocurrency using the SIM swapping method.