Month: April 2018

Cryptocurrency startup Nexo, which is backed by TechCrunch founder Michael Arrington, has launched a cash-based lending platform. Announced Monday, Nexo provides loans or extends a line of credit using its own assets, said managing partner Antoni Trenchev. To that end, the startup raised $50 million from investors, which will be used to provide liquidity to the company’s platform. This departs from existing crypto-backed lending solutions, which instead connect borrowers with other individuals willing to loan out their funds. This structure allows Nexo Read more …

Venezuela’s Petro cryptocurrency has been off to an interesting start. Despite clear opposition from various countries, the Venezuelan governments want to improve the widespread use of this currency. As such, the government is now looking at India to purchase crude oil from Venezuela at a 30% discount. This discount will only apply if India uses the Petro for the payment, which remains a troublesome topic of conversation. Can the Petro Succeed? It is evident Venezuela’s cryptocurrency is a topic of Read more …

“Big four” professional services firm Ernst & Young (EY) suggests that blockchain technology could transform the firm’s finance operations and redefine the role of chief financial officer (CFO) in a report published last week. “Blockchain could revolutionize the way finance function operates,” the report reads. “It will arm the CFO with tools and capabilities to allow him or her to become a key business partner in the strategic planning process while running a very efficient and trustworthy operation.” The report Read more …

Join our community of 10 000 traders on Hacked.com for just $39 per month. Japan’s Financial Services Agency (FSA) is pressuring local cryptocurrency exchanges to de-list privacy-centric altcoins such as Monero, Zcash, and Dash. Writing in Forbes, Tokyo-based journalist Jake Adelstein reports that sources close to the FSA say the regulatory agency — which has sole authority to grant licenses to cryptocurrency exchanges — is “taking all available steps” to pressure domestic trading platforms to drop support for altcoins that Read more …

It is already evident today that cryptocurrencies have a great potential to grow. But thanks to the volatile nature of the crypto-market, reflected by constant price fluctuation, there is a lot of doubt and criticism surrounding the market’s future. These existing conditions have created the need for tokens will relatively stable values which could act as both store of value as well as a unit of account. APOD is one such token fitting the needs of the present-day crypto-markets. AirPod, Read more …

William Mougayar, venture capitalist and author of “The Business Blockchain,” is launching an investment firm for blockchain startups and cryptocurrencies. Mougayar will head up the new entity, dubbed Blockchain Technology Ventures, which is being being spun off from Switzerland-based Jabre Capital Partners, according to an announcement on Monday. The new branch aims to invest in blockchain startups, certain tokens and publicly tradeable cryptocurrencies, the firm said. Every project or token that the fund invests in must show a high potential Read more …

Join our community of 10 000 traders on Hacked.com for just $39 per month. In today’s climate of ICOs with 100 billion token supplies, it can be easy to forget that the total supply of Bitcoin is incredibly low – 21 million. The 17 millionth Bitcoin has been mined, and there are only 4 million left. The built-in artificial scarcity is one of the most important characteristics of the currency, and the reason for the high price – Bitcoin is Read more …

Japanese regulators suggested preventing cryptocurrency exchanges from trading anonymity-oriented altcoins Dash (DASH) and Monero (XMR) this month, Forbes reports today, April 30. Relating the outcome of a working group meeting of industry “experts” and the country’s regulator the Financial Services Authority (FSA), the publication quotes one member of the group raising the idea of preventative measures regarding the altcoins, which are known for their focus on privacy and user anonymity. “It should be seriously discussed as to whether any registered Read more …

Join our community of 10 000 traders on Hacked.com for just $39 per month. In this opinion piece, Mohammed Danish, a lawyer practising at High Court of Delhi, explains how the interest of the crypto investor in protected under Indian law despite the absence of any crypto regulatory regime. The investor can still approach the court of law against any deficiency in service by the cryptocurrency exchange. You can follow the author on twitter @cryptokanoon and direct your queries at Read more …

The United Nations Children’s Fund (UNICEF) is seeking to harness supporters’ computers to raise donations via cryptocurrency mining. To that end, the organization has launched “The Hope Page” – a website that mines cryptocurrency with the help of visitors’ computer processing power. The non-profit described in a statement that site will “allow Australians to provide help and hope to vulnerable children by simply opening the page while they are online”, ITnews Australia stated. According to the website, Hope Page allows visitors to Read more …