Thursday, August 6

Tag: Crypto

UNICEF Cryptocurrency Fund Makes Its Largest-Ever Investment – Cointelegraph
Crypto News

UNICEF Cryptocurrency Fund Makes Its Largest-Ever Investment – Cointelegraph

Today eight technology companies from seven different emergent economies will receive an investment of Ethereum cryptocurrency from the UNICEF Cryptocurrency Fund. UNICEF’s crypto-enabled investment vehicle has given these companies 125 ETH, worth approximately $28,600, to use in scaling or prototyping their respective technologies over the next six months. Companies receiving this investment have already received as much as $100,000 in fiat currency from UNICEF’s Innovation Fund. One such company, Afinidata, offers educational content to parents with young children. Another one, Cireha, builds communication systems for children with speech or language impairments to use in the offline world. These are companies with a mission, and UNICEF is giving them some cryptocurrency-enabled moment...
From Ethereum to Stellar, to Solana: Cryptocurrency Kin Confirms Blockchain Migration – CoinDesk
Crypto News

From Ethereum to Stellar, to Solana: Cryptocurrency Kin Confirms Blockchain Migration – CoinDesk

Almost a month after announcing its proposal to migrate to the Solana Blockchain, the Kin cryptocurrency project announced Friday the move had been approved by its board and community, and a transition plan would be released in the coming weeks. The Kin Foundation said in a press release the move to Solana’s blockchain was in response to a growing user base, which was hitting limitations on the Stellar blockchain fork the cryptocurrency is currently built on. According to the firm, the cryptocurrency currently has over 3 million active monthly spenders and has been integrated into 57 different, mostly mobile, applications.  App developers, node operators and the Kin Foundation’s board members (Ted Livingston, who founded the Kik messaging app and is the face of Kin, and Willia...
UNICEF Cryptocurrency Fund announces its largest investment of startups in developing and emerging economies – UNICEF
Crypto News

UNICEF Cryptocurrency Fund announces its largest investment of startups in developing and emerging economies – UNICEF

New York, 19 June 2020 – Eight technology companies in developing and emerging economies will receive investment from the UNICEF Cryptocurrency Fund (CryptoFund) to solve local and global challenges. The CryptoFund will invest 125 ETH in the eight companies – from seven countries – to develop prototypes, pilot, or scale their technologies over six months: Afinidata, Avyantra, Cireha, Ideasis, OS City, StaTwig, Somleng and Utopic. All investees have previously received up to $100,000 from UNICEF’s Innovation Fund and are now receiving cryptocurrency to continue the development of their open-source and digital public goods. Within the scope of their technology, several investees are working to mitigate the hardships of COVID-19 on children and youth around the world. They are collab...
Global Crypto Asset Management Market (2020 to 2025) – Adoption of Cryptocurrency Across Verticals Presents Opportunities – ResearchAndMarkets.com – Business Wire
Crypto News

Global Crypto Asset Management Market (2020 to 2025) – Adoption of Cryptocurrency Across Verticals Presents Opportunities – ResearchAndMarkets.com – Business Wire

DUBLIN--(BUSINESS WIRE)--The "Crypto Asset Management Market by Solution (Custodian and Wallets), Application Type (Web-based and Mobile), End user (Individual and Enterprise (Institutions (BFSI, Hedge Funds), Retail and eCommerce)), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The market size is expected to grow from USD 386 million in 2020 to USD 1,123 million by 2025, at a Compound Annual Growth Rate (CAGR) of 23.8% during the forecast period. Increasing venture capital funding and growing investments in crypto asset management technology would drive the overall growth of the crypto asset management market. The increasing venture capital funding and growing investments in crypto asset management technology would drive market growth. B...
Iran’s muddled relationship with cryptocurrency is self-inflicted – Atlantic Council
Crypto News

Iran’s muddled relationship with cryptocurrency is self-inflicted – Atlantic Council

Thu, Jun 18, 2020 Iran’s muddled relationship with cryptocurrency is self-inflicted Blog Post by Steven Terner Cryptocurrency Bitcoin is seen on a motherboard in this picture illustration taken April 24, 2020. REUTERS/Dado Ruvic On June 2, a member of parliament from Tabriz, Mohammad Hossein Farhangi, urged Iran’s Central Bank to take cryptocurrency seriously because of its potential economic opportunities for the country. His statements highlighted that there are several ways through which Iran could benefit from cryptocurrencies. Yet, Iran is not exploring any of them effectively—why not? The short answer is that, on an institutional level, Iranian policymakers are having a very difficult time understanding how blockchain technology works. As a result, they are unable to take advanta...
Government’s new bill may finish India’s crypto spring – Livemint
Crypto News

Government’s new bill may finish India’s crypto spring – Livemint

A government bill to ban cryptocurrency in India has been floated for inter-ministerial consultations by the finance ministry, say media reports. The Reserve Bank of India (RBI) prohibited the use of the banking system for crypto-related payments in early 2018 but this was struck down by the Supreme Court in March 2020. The decision led to a brief resurgence in crypto trading in India. However, the new bill can not only kill the market but poses a significant legal risk if you have invested in cryptocurrencies. In its previous avatar (in mid-2019), the bill proposed to criminalize possession, use or trading in cryptocurrency, and prescribed imprisonment of up to 10 years for such activities. It is unclear whether the same structure has been retained in the new bill. Some experts do ...
Crypto Industry Entering New Era as Institutional Traders Get Invested – Cointelegraph
Crypto News

Crypto Industry Entering New Era as Institutional Traders Get Invested – Cointelegraph

A growing number of indicators suggest that institutional players are continuing to enter the digital asset markets, which have been dominated to date by high-net-worth individuals and actively trading crypto enthusiasts. Case in point: Crypto markets are seeing all-time highs in futures contracts’ open interest at entities such as the Chicago Mercantile Exchange. Widely known as one of the world’s largest financial derivatives exchanges, the CME enables sophisticated traders to trade in asset classes such as agricultural products, energy, metals and crypto futures and options. Traders on the CME are generally institutions, not individuals, which is why this open interest in the digital asset market is noteworthy. Institutions that are already onboarded and active on the CME — trading whe...
Cryptocurrency Regulations in times of COVID-19: A boon or bane to India? – Lexology
Crypto News

Cryptocurrency Regulations in times of COVID-19: A boon or bane to India? – Lexology

Launched soon after the 2008 financial crisis, the first ever cryptocurrency that took the world by storm was the “bitcoin.” Since then, over 3,000 cryptocurrencies have been mined and traded with a market capitalization of over $221 billion as per a report by Yahoo Finance. Fundamentally speaking, cryptocurrency is a digital or virtual currency designed to serve as a medium of exchange, which is aimed at decentralization and transparent financial transactions.   The ongoing COVID-19 crisis resulting in plummeting investment values in terms of equity, bonds and commodities have led to investors looking for assets that could withstand the slowdown triggered by lockdown and give them a run for their monies. While some hinge on the safety of government bonds, others are buying gol...
Bitcoin Crashes Under $9,000 As $10 Billion Wiped From Crypto Markets – Forbes
Crypto News

Bitcoin Crashes Under $9,000 As $10 Billion Wiped From Crypto Markets – Forbes

Bitcoin and the wider cryptocurrency market has been searching for direction over the last few days but it's finally made a move. The bitcoin price, after taking another failed run at the $10,000 per bitcoin level last week, has shed around 5% in the last 24 hours—dropping to under $9,000 for the first time since late May. MORE FROM FORBESJPMorgan Completes Surprise Bitcoin Flip-And Calls A Price FloorBy Billy Bambrough The bitcoin price has failed to hold onto recent gains, with some bitcoin and cryptocurrency ... [+] watchers fearful the price could be heading sharply lower. Getty Images Bitcoin fell to lows of $8,900 on the Luxembourg-based Bitstamp exchange before rebounding slightly. The wider bitcoin and cryptocurrency market has recorded similar declines, with ethereum, Ripp...
Cryptocurrency Markets May Be Decentralized, But They’re Still Accountable – CoinDesk – CoinDesk
Crypto News

Cryptocurrency Markets May Be Decentralized, But They’re Still Accountable – CoinDesk – CoinDesk

One underappreciated feature of crypto markets is the lack of centralization. I mean, people know crypto assets are decentralized and trade on exchanges all over the world. But what’s often overlooked is the relative ease with which people can change the venues they buy and sell their holdings on. If, for instance, Jeff Sprecher (chairman of the New York Stock Exchange) says something that upsets you, you couldn’t exactly stop trading on the NYSE without liquidating a good percentage of your portfolio, because, for many stocks, it is the only trading venue. However, if a crypto exchange does something you fundamentally disagree with, you can trade your crypto assets elsewhere. There is no shortage of options. You’re reading Crypto Long & Short, a newsletter that looks closely...