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Zank is an online automated cryptocurrency-trading platform.
While creating our service, we've pursued our main goal: to provide users with a modern, secured and very convenient tool for fast exchange of digital currencies. Our team has invested a lot of efforts and work towards achieving this. Some of the work we've done include:
  • All the services existing in the market were analyzed and the options which are highly-demanded by users were chosen.
  • The Zank platform has been made as concise and user-friendly as possible.
  • The exchanger was powered using secured and fast technologies.
  • Users can now buy and sell in the most transparent mode.
  • Technical support has been provided to users.
  • We conduct our activities in an open and transparent manner, without hiding our business registration details.
The project employs people with professional education, who have the necessary expertise in related areas, such as Internet banking, finance and corporate banking services. We strive to make our service the best and constantly focus on development.
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News of the cryptocurrency market:
German blockchain banking firm Bitwala has partnered with pioneering decentralized finance, or DeFi, platform Celsius to offer annual interest on Bitcoin (BTC) holdings of up to 4%.
Funds deposited from customers who opt to use Bitwala’s Bitcoin Interest Account will be loaned to institutional borrowers via Celsius, earning weekly interest on their Bitcoin in the form of BTC. Bitwala frames DeFi as “a new way to generate wealth,” emphasizing the opportunity for passive income to be generated from crypto holdings. Users can deposit from $12 worth of Bitcoin into Bitwala’s interest accounts, and are able to add and withdraw funds at any time. Only network fees are incurred through using the account, with investments and withdrawals processed without cost to the user...
In a recent trend survey made by DMEXCO and presented at an event in Cologne, Germany, it was determined that although the world is currently suffering economically, the digital economy may greatly benefit after the COVID-19 pandemic. According to the survey, the COVID-19 crisis will accelerate the rhythm of digital transformation.
One of the benefits of an advancing digital transformation is that it can lead to new solutions, unlocking inconceivable possibilities. This is especially true in digital services provided by governments, as the potential for innovation within the sector is vast. With that in mind, Brazil instituted its Digital Government Strategy through the Decree 10332/2020 this week...
Hackers have attacked multiple supercomputers across Europe this week with the intention of mining cryptocurrency. Clusters of supercomputers have been forced to shut down in order to investigate the intrusions, according to a ZDNet news report on May 16.
These security incidents were reported in the UK, Germany, and Switzerland. Additionally, another possible attack occurred in a high-performance computer center in Spain, according to the report. Most of the attacks appear to have targeted universities. University of Edinburgh,which runs the ARCHER supercomputer, reported the first incident on Monday. Then, major universities’ high-performance computing clusters in the state of Baden-Württemberg, Germany also announced that they were attacked on Monday with similar security incidents, and had to be shut down.
More attacks happened in institutions in other parts of Germany, Spain, and Switzerland later in the week. Clusters in the Leibniz Computing Center, or LRZ, an institute under the Bavarian Academy of Sciences, the Julich Research Center in the town of Julich, Germany, the Faculty of Physics at the Ludwig-Maximilians University in Munich, Germany, and the Swiss Center of Scientific Computations, or CSCS, in Zurich, Switzerland were all counted amongst the victims...
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News of the cryptocurrency market:
The deadline is here: On May 18, unregistered Dutch crypto firms could face penalties if they do not fall into line with the Netherlands’ new anti-money laundering (AML) laws, passed by the Dutch Upper House on April 21.
According to the Anti-Money Laundering Directive, companies offering crypto-to-fiat or custodial services should have registered by today. In contrast, those offering only crypto-to-crypto services are exempt.
The Dutch Bank (DNB), the body in charge of regulating financial activities in the Netherlands, will be obliged to comply with the mandates of the Dutch government. However, they will not issue licenses for crypto businesses. Instead, paid registration will be mandatory and cost up to €34,000 per year.
U.S. berry producer California Giant Berry Farms joined the blockchain-based food tracking solution IBM Food Trust.
Fruit and vegetable news outlet The Packer reported on May 17 that California Giant will use a blockchain to share data between all the points of its supply chain. The firm employs Glassbit’s Glasschain IBM Food Trust integration compliance as a service solution. According to California Giant’s senior director of operations Thomas Taggart, the integration with IBM’s blockchain network will allow the firm and its partners to find ways to improve the efficiency of product transportation. According to company data website Owler, California Giant has an estimated annual revenue of $62.6 million and employs 103 people.
Japanese cryptocurrency exchange bitbank has begun implementing changes to make it compliant with the country’s revised Payment Services Act (PSA), effective May 1.
Atsushi Kuwabara from bitbank spoke to Cointelegraph on how local exchanges and regulatory bodies would be responding to modifications of cryptocurrency-related laws first proposed by the Japanese House of Representatives in 2019. Under the modifications to the PSA, all references to “virtual currency” must be replaced with the term “crypto asset”. The Japan Virtual Currency Exchange Agency (JVCEA), has changed its name to the Japan Crypto Asset Exchange Agency, though it will still be referred to as the JVCEA.
Under the new PSA, Japanese Cabinet Ordinance and financial watchdog Financial Services Agency (FSA) guidelines, any user who sends crypto assets to an exchange has a “prioritized right of return” for any assets.
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Dear clients and partners!
Exchange service Zank.com, added to the monitoring listing XRates.ru
Using the services of automatic purchase of bitcoin on our website, we invite You to leave a review on the Zank.com exchanger
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News of the cryptocurrency market:
A new bill before Congress asks regulators to put together a massive survey on the state of blockchain adoption and rank the U.S.’s adoption relative to other nations.
On May 19, Representative Brett Guthrie (R-KY) introduced the “Advancing Blockchain Act.” Per a May 18 draft of the legislation obtained by Cointelegraph, the bill asks the Federal Trade Commission and the Secretary of Commerce to put together a new survey of blockchain’s uses and the state of adoption in the United States. The current text of the bill also seems to focus on uses of blockchain in interstate commerce, potentially including, for example, supply chain management. Given Guthrie’s role on the House Energy and Commerce Committee, it’s possible that blockchain’s use cases in the energy sector appeal to him as well.
Shopify sellers can now accept crypto via digital asset payment processor, CoinPayments.
A partnership with crypto payment processor CoinPayments means bolstered digital asset payment compatibility for Canadian e-commerce giant Shopify. Shopify sellers can now harness CoinPayments' digital asset payment processing platform, paving the way for sellers to accept 1,800 different cryptocurrencies as payment, a May 20 statement detailed. Shopify touted cryptocurrency payment compatibility prior to the CoinPayments partnership, via Coinbase Commerce, BitPay and GoCoin, although CoinPayments adds to the offering.
Chinese authorities have busted a group of scammers allegedly claiming to be “Huobi officials”.
Chinese authorities have dismantled a group of alleged scammers posing as Huobi exchange officials, who were operating an over-the-counter (OTC) website. As reported by local media outlet Jinse, on May 20 police arrested 12 suspects in Guangdong province believed to be behind the scheme, after an investigation found that WeChat crypto trading groups had been infiltrated from November 2019. Scammers persuaded victims to invest in the fake OTC platform, which was used for money laundering, and then sent the defrauded money to overseas accounts.
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News of the cryptocurrency market:
Goldman Sachs will host a conference call on May 27 titled US Economic Outlook & Implications of Current Policies for Inflation, Gold, and Bitcoin.
On May 23, Mike Dundas, the founder of crypto media outlet The Block, posted a screenshot of the invitation for the call, revealing that the event will be hosted by Sharmin Mossavar-Rahmani, the CIO of Goldman’s Investment Strategy Group, alongside Harvard economics professor Jason Furman, and Goldman Sachs’ chief economist Jan Hatzius.
National People’s Congress, China’s parliament and Chinese People’s Political Consultative Conference, the most powerful political advisory body in the country, have recently begun their annual sessions. These are widely referred to as the "Two Sessions" or "lianghui" meetings. These meetings have been ongoing since May 22.
The National People’s Congress, or NPC, is China's top legislative body. Nearly 3,000 delegates from around the country meet once a year to submit proposals during the meetings. According to a Beijing News’ report on May 23, Jieqing Tan, deputy to the NPC, suggested setting up a special fund for blockchain industry development. If accepted, this fund would be led by the government. The aim of the fund is to support the development and growth of a number of promising blockchain enterprises, encourage blockchain technology innovation, and cultivate a number of unicorn enterprises in the blockchain space, says Tan.
Virtual reality media platform, Sensorium, has announced its membership in the Global Blockchain Business Council, or GBBC — a Swiss-based non-profit industry association for blockchain.
Sensorium will participate in GBBC’s upcoming virtual forum on May 28, which will see the firm’s director of technology Alex Blagirev discuss his predictions for how virtual social media will change the way that people interact online. Cointelegraph spoke to GBBC to discuss the intersection between social media and virtual reality, or VR, and the role that blockchain plays in the sector’s future.
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News of the cryptocurrency market:
Swiss DeFi startup Eidoo partners with principal member of Visa Europe to issue a new Visa crypto debit card.
Cryptocurrencies like Bitcoin (BTC) aren’t really easy to spend in day-to-day life, mainly because retailers prefer to stay away from crypto’s volatility. In order to build a bridge between traditional finance and emergent assets like Bitcoin, a Swiss crypto startup called Eidoo has introduced a new Visa crypto debit card that uses regulated stablecoins for crypto-to-fiat conversion.
The so-called Eidoo Card has been approved for operation by payment giant Visa. Announcing the news on May 25, Eidoo told Cointelegraph that its new card will enable 40 million Visa merchants to accept crypto-derived fiat currencies, including the British pound (GBP) and euro (EUR).
Daejeon University is the latest in a series of South Korean universities redesigning portions of its finance and technology departments. The university made an official announcement on May 25 that it would open a new fintech department called “Future Convergence.”
According to the announcement published by Daejeon Journal, the curriculum will consist of topics such as smart health care, smart city, smart factory, and various employment fields in the medical institutions by implementing blockchain technology.
Universities in South Korea are boosting educational programming related to blockchain, big data, and artificial intelligence amid the country’s crisis of college graduates who are struggling to find jobs. Daejong’s new fintech department expects that work done there will foster “talents for the 4th industrial revolution.”
The price of Bitcoin dropped to $8,800 over the weekend and data shows miners and retail investors led the correction.
On May 24, the price of Bitcoin (BTC) dropped to $8,800 from $9,300. In the next 24 hours, it declined to as low as $8,600, leaving the top ranked digital asset on CoinMarketCap at risk of a bigger pullback.
The initial drop of Bitcoin below $9,000 coincided with a massive inflow of BTC into exchanges and Bitcoin on-chain data indicates key players were selling over the weekend.
According to data, miners, exchanges and retail investors may have led to the decline in the price of Bitcoin over the past three days.
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News of the cryptocurrency market:
Bitcoin price is struggling to reclaim $9,000, leading investor sentiment to turn bearish on BTC’s short-term price action.
Bitcoin (BTC) price had a relatively muted day as the digital asset traded between $8,700-$8,885. Currently, the price remains below the ascending channel trendline and the daily candle closed as a neutral doji, showing bulls and bears are in contention on the direction Bitcoin will take over the short-term. As the price searches for direction and its dominance rate drops from 67% to 65.5%, a handful of altcoins continued a multi-day streak of impressive double digit rallies.
The average Bitcoin fee has fallen by nearly 54% over the last five days, but some believe network congestion could push users to altcoins.
After spiking a week ago to levels last seen in February 2018, the average Bitcoin (BTC) transaction fee has fallen by more than half. BitInfoCharts data shows that Bitcoin’s average fee decreased by nearly 54% from $6.65 on May 20 to $3.07 on May 25. The median — or most common — fee peaked at $3.91, but has now fallen to $1.65.
The Global Blockchain Business Council believes the pandemic has shone a light on many systemic inefficiencies that blockchain technology can solve.
The Swiss-based non-profit blockchain industry association, the Global Blockchain Business Council (GBBC), believes that the crises resulting from the coronavirus pandemic have highlighted the benefits of distributed ledger technology (DLT). In email correspondence with Cointelegraph, a representative of the GBBC asserted that DLT can modernize and address the inefficiencies of the systems that underpin the organization of contemporary societies. With this in mind, the GBBC is working to foment dialogue among key policymakers and business leaders on how DLT can “address certain inefficiencies, and in some cases fundamentally shift frameworks and systems in hopes of creating more secure, equitable, and functional societies.” The GBBC will devote significant resources to engaging lawmakers over the coming years.
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A report from Flipside Crypto indicates that no Ethereum (ETH)-based Tether (USDT) tokens have ever been burned. The report has also come to a conclusion that the stablecoin is mostly used by arbitrageurs on centralized exchanges.
The report states that Tether has thus far failed to fulfill its aspiration of providing stability to the DeFi space as postulated by Paolo Ardoino, Bitfinex and Tether’s CTO. Instead, its primary use case, seems to be inter-exchange arbitrage. Another interesting observation is that these arbitrageurs do not send their tokens directly from an exchange to an exchange, but first withdraw them to their wallets. The report speculates that this may be due to the desire to control the swiftness of the transactions. In other words, this way the users can opt to pay higher Gas fees in order to expedite the transfer. In the world of arbitrage, time is money. Despite Tether’s recent rise to becoming the third biggest cryptocurrency by market cap, it remains a controversial project, with numerous questions about its reserve policies.
LG Electronics has joined the governing council of Hedera Hashgraph, the enterprise-grade public distributed ledger platform. LG serves as the council’s fourteenth member, sitting alongside Boeing, Deutsche Telekom, Google, IBM, Tata Communications, and other leading organizations.
Hedera Hashgraph CEO Mance Harmon told Cointelegraph that LG is the first home appliance manufacturer to join the Hedera Governing Council. Harmon noted that LG will specifically work with the other council members to identify ways that distributed ledger technology, or DLT, can benefit consumers and supply chain partners. LG has recently shown increased interest in DLT and blockchain applications. In September 2019, it was reported that the Koren tech giant began developing a blockchain-based phone to rival Samsung’s Klaytn smartphone. LG also just announced a partnership with technology company, Evernym to develop a blockchain-based identification system.
Revolut data shows that U.K.-based retail crypto trade fell by half at the peak of the mid-March crypto crash — but has since recovered.
Data provided by U.K.-based finance app Revolut shows the coronavirus lockdown has impacted the crypto trading habits of its users. Almost a third of Revolut’s 10 million customers have traded cryptocurrency on the app, which caters to casual, retail crypto traders. As the lockdown restrictions were introduced during March, the average size of cryptocurrency purchases from its U.K. customers fell by 58%, from roughly $663 to $281.
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News of the cryptocurrency market:
In a recent response to a Right to Information query, the Reserve Bank of India, the Indian central bank, has stated that there is no prohibition on banks to provide bank accounts to cryptocurrency traders.
But some banks have been arbitrarily denying services to crypto users and are still doing so. The RBI banking ban on crypto was set aside by the Supreme Court on March 4, 2020. In its detailed judgement of over 180 pages, the Supreme Court stated that the RBI action is extremely disproportionate in severing the lifeline (banking services) for cryptocurrency trading business despite crypto trading not being illegal under any Indian law and no harm or damage is proved to have been caused to these banks as a result of their relationship with crypto exchanges.
The Swiss Financial Market Supervisory Authority, or FINMA, has authorized InCore bank to carry out digital assets transactions, allowing customers worldwide to access and transact within the bank.
The official announcement represents an important step in creating a blockchain-friendly environment across the EU banking sector. InCore bank becomes the first Swiss business-to-business bank approved to operate within the crypto sphere. The firm now allows the institutional clients to trade, hold, and transfer digital assets. FINMA has also allowed the bank to develop its tokenization capabilities.
Chase Bank NA, the sixth-largest bank worldwide and a subsidiary of banking giant JPMorgan Chase & Co, will pay approximately $2.5 million to settle a class-action lawsuit alleging that it overcharged customers for buying cryptocurrency using its credit cards.
The sum was reported by Reuters following a court filing on Tuesday in Manhattan federal court. JPMorgan Chase admits no wrongdoing in the settlement, and customers who are part of the class will receive approximately 95% of the previously-paid fees back. The lawsuit alleged that Chase Bank customers who used their credit card to purchase cryptocurrency were improperly charged pricey “cash advance” fees. The suit originally asked for $1 million for affected customers, but the final settlement is significantly larger.
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Good day, dear customers and partners.
Thanks for using Zank.com!
As you know, customer feedback is key to running a successful business. We greatly value our customers' feedback and would love to hear from you.
It'll only take you a minute, and your feedback will help us improve the service we provide to you and to all of our customers.
All the best,
The Zank Team
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News of the cryptocurrency market:
The Norwegian-based producer of farmed-salmon, Kvarøy Arctic, has become the latest firm to join IBM’s Food Trust — the tech giant’s blockchain-based supply chain solution for the food industry.
Kvarøy Arctic is a supplier for numerous restaurants and Whole Foods retailers in the United States and Canada, and will now utilize blockchain technology to provide detailed information on the origin of its produce to restaurants and consumers. Information regarding the origin of salmon farmed by Kvarøy Arctic will be accessible to corporate buyers and consumers through QR codes. Customers will be able to access comprehensive information and images detailing the conditions under which the salmon was produced, including the population and density of the habitats in which the salmon were raised, their age, date of harvest, and information concerning the supply route taken from farm to supermarket. The salmon producer is also working with its feed supplier BioMar to also provide its supply chain data to the project.
Ripple’s Xpring initiative has invested at least $500 million in various projects since it was launched in 2018.
The Block’s John Dantoni tracked Xpring’s investments and found that the initiative has contributed to at least 27 projects to date, including Compound, Dharma, Securitize, Bitso and Forte.
Xpring invested $100 million in Forte last year - a blockchain-based gaming platform, which leverages Xpring's open-source Interledger Protocol with XRP serving as a base pair settlement. Many of Xpring’s investments are related to Ripple’s core business model, centered around XRP and payments development, as Dantoni noted. Last year, Xpring made at least 18 investments. This year, the initiative has been quiet, with only two investments so far - in crypto ATM provider Coinme and blockchain platform for decentralized applications NEAR Protocol.
The Office of the Comptroller of the Currency – which regulates banks in the U.S. – is seeking feedback from the public on the digital activities of national banks and federal savings associations, which includes actions related to cryptocurrencies and digital assets.
The OCC published two notices on Thursday, a Notice of Proposed Rulemaking and an Advance Notice of Proposed Rulemaking, which cover a range of topics related to its remit as a regulator of U.S. banks. It's the second of two notices that focuses on digital activities and hones in on the topic of crypto.
The OCC has set a deadline of August 3 for the receipt of public comments. The OCC is currently led by Brian Brooks, a former chief legal officer for crypto exchange Coinbase, on an interim basis.
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China Zheshang Bank, a national commercial bank, used blockchain technology to issue an asset-backed commercial paper, or ABCP. It was issued as a part of the National Association of Financial Market Institutional Investors’s (NAFMII) pilot project for ABCPs.
An asset-backed commercial paper is a short-term investment issued by financial institutions to help companies meet short-term goals. Dubbed “Lianxin 2020 Lianjie First Phase Asset-backed Commercial Paper,” the period of the Lianxin ABCP is six months and the span of the next issuance is yet to be specified. An official of the NAFMII noted that the use of blockchain technology would provide enterprises a “direct channel to markets, helping to greatly increase the accessibility of business financing.”
In the midst of ongoing protests across the United States, some turned violent by police brutality, one publication has uncovered information on a Pentagon war game created in 2018 that has an uncanny resemblance to current events.
According to a June 6 article on The Intercept, documents reveal the United States Pentagon created a game called the 2018 Joint Land, Air and Sea Strategic Special Program (JLASS). In the scenario, members of Generation Z — people born starting in the mid-1990s — are rewarded in Bitcoin (BTC) for their efforts starting a rebellion, i.e. “Zbellion”. Players in the fictitious United States in the 2020s are given the proceeds of their attacks on target corporations, financial institutions, and political and non-profit organizations that support "the establishment" in the cryptocurrency. According to the document, “Zbellion uses software programs to route any proceeds into laundering programs that ultimately convert national currencies into Bitcoin” and makes "small, below the threshold donations" to "worthy recipients", including members who conduct the attacks or have a financial need.
The CEO of FinTech company CoolBitX says only 10% of countries in the FATF are prepared for the June 24 meeting to discuss the travel rule.
The Financial Action Task Force (FATF) has a plenary meeting scheduled on June 24 to assess the progress of Virtual Asset Service Providers (VASPs) worldwide in enforcing the organization’s “travel rule”. According to Pawel Kuskowski at Forbes, the FATF meeting will be held virtually in two weeks to discuss the organization’s guidelines intended to make VASPs compliant with anti-money laundering (AML) and Anti-Terrorist Financing (ATF) regulations. He says FATF member jurisdictions “must demonstrate progress” on implementing the travel rule, as their efforts will be reviewed at the June 24 meeting.
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Two US-based law firms are the latest victims of the REvil malware group, which is auctioning off their sensitive data.
Ransomware group REvil has started another auction on the dark web listing sensitive data stolen from two US-based law firms. The listing appeared June 6 through REvil’s official blog on the darknet, where bidders look to acquire 50GB of data from Fraser Wheeler & Courtney LLP and 1.2TB of data from the database of Vierra Magen Marcus LLP. Information auctioned includes client information, internal documentation of the company, electronic correspondence, patent agreements, business plans and projects, as well as new technologies that have yet to be patented.
The starting price for the auction listing of Fraser Wheeler & Courtney LLP is $30,000 to be paid Bitcoin (BTC).
In Japan, one of the biggest home builders is making preparations for its contracts on certain rental homes to go on the blockchain.
According to an announcement posted to the company’s website on June 8, Sekisui House said that it would use blockchain for rental housing contracts, including covering electricity and gas. The measures will be implemented before March 2021. Users staying in “Shamaison” rental homes will be able to register their phone numbers and addresses to enter the property without ever contacting a real estate agent. Existing technology makes it possible for Sekisui House clients to open and close doors with just their smartphones.
Cryptocurrency-powered web browser Brave is partnering with the Korean pop group BTS and Rush Gaming to provide a limited edition release of its browser for residents of Japan.
Japan’s Nikkei newspaper reported on June 5 that the Brave Browser and BTS — AKA the Bangtan Boys — have developed a browser exclusively for users in Japan. This is the first known collaboration between a privacy-based browser like Brave and a K-pop boy band. According to the Nikkei, the two aim to find a new touchpoint between idols and fans. Users of the limited edition browser can earn points by watching ads to support Rush Gaming’s e-sports team.
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Japanese crypto firm Freessets has announced a new technology to enhance Bitcoin wallet (BTC) privacy.
According to a June 8 announcement, Freessets has created a system that allows wallets to request their addresses’ Bitcoin balances without revealing it to the servers from which they request the balances or transaction history. The statement said that conventional Bitcoin wallets explicitly ask servers for the balance of their addresses, which links the balance, transactions and addresses. However, “using the technology Fressets has developed, it is mathematically proven that the servers cannot learn anything from the user’s query.”
London-based ETC Group will list the first crypto exchange-traded product on Germany's Xetra digital stock exchange this month. Traders in the UK, Italy and Austria will also be able to deal in shares of the new product.
According to ETF Stream, the ETC Group announced on June 9 that Bitcoin Exchange Traded Crypto (BTCE), an exchange-traded product (ETP), will launch on Deutsche Börse Xetra after it receives approval from German financial regulators. BTCE tracks the price of Bitcoin (BTC) and is physically backed by the cryptocurrency. The Bitcoin will be held in cold storage by digital asset custodian BitGo.
New research from MIT says a decentralized protocol is a must for secure online voting, however the current online voting platform is too centralized and vulnerable.
The pandemic has forced many companies to move their operations online. It has also brought the question of online voting to the forefront of conversation in the United States, which is facing an election year. According to a June 7 paper from researchers at the Massachusetts Institute of Technology and University of Michigan, Democracy Live’s popular online voting platform, OmniBallot, is vulnerable to vote manipulation. Many states have tried OmniBallot, which uses Amazon Web Services to lock in votes, but it has faced security issues. A more decentralized online voting is part of the solution to protect ballots, the researchers say.
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The Human Rights Foundation (HRF) has launched a fund to support software developers working on privacy-focused Bitcoin projects.
The New York-based nonprofit, which aims to promote and protect human rights globally, announced the initiative in a press release on Wednesday. The HRF said it is starting the fund in order to "better serve as a financial tool for human rights activists, civil society organizations and journalists around the world." HRF is also seeking more support via a crowdfunding campaign in which 95% of donations collected will be used to fund the work of selected developers. (The remaining 5% will support HRF's efforts in general.)
The Intercontinental Exchange’s digital asset custody and derivatives platform Bakkt has partnered with crypto asset manager Galaxy Digital to launch a ‘white glove’ service for institutions seeking Bitcoin (BTC) exposure.
The collaboration will see Galaxy Digital Trading’s (GDT) matching engine and trading platform offered alongside Bakkt’s digital asset custody services. The partnership will see GDT source liquidity from over 30 market makers, with trading taking place 24 hours a day, 365 days per year. GDT generated over $1 billion in digital asset volume during the first quarter of 2020 spanning its spot, lending, derivatives, and structured crypto products.
As Bitcoin continues to hold above $9,800, one whale decided now was the time to move more than $1 billion in BTC.
According to blockchain data, an unknown Bitcoin (BTC) trader moved over 132,255 BTC — roughly $1.3 billion — in three transactions just one minute apart on June 11. The cryptocurrency was moved in block 643,133. The transactions came as the price of BTC was still under a key resistance level, $10,000. The massive volume led to speculation the BTC belonged to an exchange or custodial service with one user on Reddit speculating Coinbase Custody was responsible.
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The popular DeFi app Celsius Network has publicly launched a $15 million equity offering, selling out over two-thirds of its target in less than six hours.
Pioneering decentralized finance (DeFi) application Celsius Network has launched an equity offering through Bnktothefuture. As of this writing, the campaign has raised over $10.7 million of the $15 million maximum, and has surpassed its minimum investment goal of $10.5 million. Thirty-nine investors have participated so far, with 44 days remaining on the raise. The minimum investment in Celsius’ equity fundraising round is $1,000. The round is open to both U.S. and international investors.
Seychelles-based exchanges led the world in cross-border Bitcoin (BTC) transactions in 2019. What Switzerland is to the world of watchmaking, Seychelles is to the world of crypto exchanges.
The small island nation with a total population of less than 100,000, presents a perfect playground for the enterprises that are looking for a place that allows them to optimize their tax liabilities with regulators who operate with a light touch. The most active international trade routes are Seychelles — EU, Seychelles — US, and Seychelles — South Korea, each connection producing volumes in excess of $2 billion.
The $5.7 trillion asset manager Vanguard has completed the first phase of its pilot testing of settlements for blockchain-based asset-backed securities.
Vanguard, the world’s second-largest index fund manager, has announced the successful completion of the first phase of its blockchain pilot trialing the digitization of asset-backed securities (ABS). The pilot has seen Vanguard partner with a large U.S.-based ABS provider, distributed ledger technology provider Symbiont, and financial institutions BNY Mellon and Citi, to model the full life cycle of securities settlement using a distributed ledger technology network. As of April 30, Vanguard managed $5.7 trillion in assets globally, offering more than 425 funds to 30 million investors.
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350 Chinese companies surveyed still believe in the higher potential that blockchain technology could offer to their businesses.
A survey of 350 Chinese companies revealed that Blockchan’s pre-COVID-19 corporate bullishness remains alive in the region. According to Xinhua, the study, called “Blockchain in the Post-epidemic Age,” showed that 70% of the companies surveyed before the coronavirus outbreak remain optimistic about the potential of Blockchain technology. Up to 20% believe that they will invest even more to mitigate the effects of the crisis.
Data from Bitinfocharts show transaction fees average 71 cents. That’s a big drop from last month when they were as high as $6.65.
Bitcoin's transactions fees have dipped to fresh lows—the cost of sending the cryptocurrency now averages $0.711, data from Bitinfocharts shows. Bitcoin transaction fees have plummeted since a spike last month following May 11’s halving. The cost of sending Bitcoin reached a peak of $6.65 on May 20—the highest average transaction fee since July 2018. Data shows transaction fees have dropped by almost 90%—89.3% to be precise—in just 25 days.
A bug in latest code for Trezor hardware wallets could temporarily lock users out of their Bitcoin. To keep spending your digital gold using Wasabi, don’t update to the latest version.
Apersonal safety announcement from privacy-focused Bitcoin wallet Wasabi today: don’t update your Wasabi wallet if you use a Trezor device. If you do, you could temporarily lose access to your Bitcoin. While you’re at it, don’t update your Trezor devices if you’re using Wasabi. If you’re using a Trezor Model T, don’t update to version 2.3.1., and if you’re using a Trezor One, don’t update to 1.9.1.
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The chairman of the Federal Reserve sees no issues with the massive expansion of the Fed’s balance sheet and believes that inflation will struggle to stay above the target.
Jerome Powell, the chairman of the Federal Reserve, reported on the state of the economy at a Senatorial hearing held on June 16. During the initial report on the state of the economy and the actions taken by the Fed in response to the Coronavirus crisis, the chairman listed all of the extraordinary measures adopted by the bank since March. Part of that included an unprecedented expansion of the Fed’s balance sheet, which purchased securities on the market with newly created money as part of the practice of Quantitative Easing. The remainder of the session largely focused on the perspective of employment after the crisis, as well as the recent decision to purchase corporate bonds, which some senators criticized as being unnecessary.
The Advertising Standards Authority and the Internet Advertising Office joined forces to launch a system to remove scam ads.
The United Kingdom Advertising Standards Authority (ASA) and the Internet Advertising Office (IAB) launched a new system on June 16 to detect and remove online fraud ads. According to the Telegraph, the system will allow people to report fraudulent ads, especially those that appear in paid-for spaces. One of the main motivations behind the alert system is ongoing concerns about the rise in ad scams that are mainly related to crypto-related fraud, said both authorities. Cointelegraph reported in January that the FCA will be monitoring anti-money laundering (AML) and counter-terrorist financing (CTF) for companies carrying out cryptocurrency-related activities.
The World Economic Forum has recognized six blockchain companies on its list of 100 Technology Pioneers for 2020.
The World Economic Forum (WEF) has recognized six blockchain firms on its list of 100 ‘early to growth-stage’ companies as Technology Pioneers for 2020. According to the WEF’s website, the blockchain and crypto startups recognized for pioneering new technologies and innovations in 2020 are Lightning Labs, Chainlink, MakerDAO, Bitcoin analytics firms Elliptic, Latin America-based cryptocurrency startup Ripio, and Veridium Labs. They’re among 100 companies from around the world chosen for their contributions to bleeding edge technology, from “artificial intelligence to diagnose cancers and quantum computing systems, to carbon capture and removing technologies, cell-grown meat production and use of microbiome to track goods”.
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Tether (USDT) makes a $10 million equity investment in the crypto lending platform Celsius Network (CEL) at a $120 million pre-money valuation, bringing the post-money valuation to $150 million.
The company has raised $30 million in its first equity round. In 2018, Celsius completed a $50 million ICO. Celsius CEO Alex Mashinsky told Cointelgraph that his company has continued its policy of not fundraising from venture capital. Mashinsky also pointed out that the equity sold in this round does not come with voting rights. This ensures that the investors will not be able to force the company to change its core mission of sharing 80% of the profits with the community.
Morgan Creek’s Anthony Pompliano presses pension funds to allocate 1-5% of their portfolios to Bitcoin.
As pension funds struggle with their funding, Morgan Creek Digital co-founder Anthony Pompliano continues to press them into adding more Bitcoin into their portfolios. In a letter to investors, Pompliano said pension funds like the California Public Employees’ Retirement System (CalPERS) will do well to invest in Bitcoin instead of increasing their allocations of illiquid assets.
Morgan Creek has long pushed for more pension funds to take at least 1% allocation in Bitcoin. CEO Mark Yusko said in January that if foundations had a 1% allocation five years ago, they would’ve made 9.2% in alpha--or the performance of a portfolio relative to a benchmark--than the 7.2% they actually made in that time period. So far, there are two pension funds from Virginia that invested in Morgan Creek.
VeChain’s medical records blockchain platform in Cyprus lets people prove, and control, COVID-19 test results.
Blockchain tracking platform VeChain announced on Twitter on June 20 that its blockchain-based medical data management platform co-developed with digital healthcare solution firm I-Dante has gone live and will store COVID-19 testing results. The platform, dubbed E-NewHealthLife, was deployed in the Mediterranean Hospital in the Republic of Cyprus.
Cyprus citizens who go to the hospital’s COVID-19 laboratory to undergo real-time diagnostic and antibodies testing, will have their medical and test records on the blockchain. The records will be encrypted, hashed and uploaded onto the VeChainThor Blockchain. The results will also be available on the E-HCert application. Adoption of E-HCert, the company said, reduces the cost of data storage and sharing.
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A study by Scamwatch suggests cryptocurrency scams are a real threat in Australia.
Australians filed 1,810 reports of cryptocurrency-related scams in 2019, collectively totaling more than $21.6 million AU ($14.9 million USD). According to a study by Scamwatch, an arm of the Australian Competition and Consumer Commission, younger Australians aged 25 to 34 were those most heavily affected by crypto investment scams. Scamwatch’s study reveals a sharp increase in total losses related to scams over the past two years, from $234 million in 2017 to $437 million in 2019.
CBDCs Don’t Fix Broken Monetary Policy, Say Execs at Stablecoin Saga. CBDCs promise to speed up existing systems but are unlikely to change the direction central banks have already been taking.
As countries around the world dive into central bank digital currencies (CBDC), many in the crypto industry look forward to what that means for adoption and even lucrative partnerships to develop such tokens. However, at least some commentators have noted that national CBDCs will likely disappoint those looking to update monetary policy. Saga operates a stablecoin, SGA, that launched in December. It is pegged to special drawing rights. The SDR is a basket of currencies that the International Monetary Fund bases on a varying ratio of dollars, euro, yuan, yen and pounds sterling.
Nanjing, China is basically using the blockchain to drive a local economic stimulus program.
In order to reduce the COVID-19 pandemic’s impact on business, Chinese governments at all levels have been coming up with different policies and solutions to help the economy survive. Nanjing, the capital of China eastern Jiangsu province, is one of the first cities in China to leverage blockchain technology and issue so-called “consumption vouchers” on the blockchain as a kind of crypto-driven stimulus package, according to a local news report on June 23. These vouchers are exchangeable for things like food, transportation and electronics.
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Sveriges Riksbank, Sweden's central bank, took a 98-page deep dive into central bank digital currencies, or CBDCs, referencing the country's own such asset — the e-krona.
"The second issue of Sveriges Riksbank Economic Review in 2020 has a special theme, namely central bank digital currencies (CBDC) and the e-krona," Riksbank's June 18, 2020 report said in an initial note to readers. In December 2019, Sweden unveiled intentions for a pilot program around its e-krona, in collaboration with Fortune Global 500 company Accenture.
Australians can now pay for Bitcoin (BTC) at the country’s post offices, thanks to a new collaboration.
According to a June 24 announcement, customers of local cryptocurrency exchange Bitcoin.com.au will be able to pay for Bitcoin at more than 3,500 Australian Post offices. Bitcoin.com.au customers were already able to pay for Bitcoin at 1500 retail outlets in the Blueshyft payment network. Founded by Synthetix’s Kain Warwick, Blueshyft also services numerous other exchanges.
Lending platform Defi Money Market (DMM) — backed by Tim Draper’s Draper Venture Network — has had a difficult birth.
The Initial DEX Offering (IDO) has completed successfully, raising $6.5 million in 48 hours, but investors reported problems with completing transactions, a confusing interface or raised trust issues around the company’s background.Despite the issues, DMM’s DMG token is currently trading at $0.87, over double the initial sale price of $0.36. DMG has also had the highest trading volume on Uniswap in the past 24 hours with $4.8 million being traded against Ether (ETH).
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