Indian Crypto Exchange CoinDCX Secures Additional $2.5M Investment

The $2.5 million investment in India’s largest crypto exchange comes from Polychain Capital and Coinbase Ventures. CoinDCX, India’s largest cryptocurrency exchange, announced that it had raised $2.5 million from investors including Polychain Capital and Coinbase Ventures, the investment arm of crypto exchange Coinbase. The investment comes shortly after the exchange’s Series A funding round in March, in which CoinCDX secured $3 million from Bain Capital, Polychain and HDR Group, the operator of cryptocurrency exchange BitMEX. In an announcement from CoinDCX on May 25, the exchange said it would be using…

Read More

Goldman Sachs Hosting Bitcoin Call as Institutional Interest in Cryptocurrency Surges

As interest in cryptocurrency grows among institutional investors, global investment banks, like Goldman Sachs and JPMorgan Chase, are reexamining their views about bitcoin. Goldman Sachs is hosting a call for its clients to learn about the implications of current policies for bitcoin, gold, and inflation. Goldman Sachs’ Bitcoin Call for Clients New York City-headquartered investment bank Goldman Sachs is hosting a call for clients on May 27 entitled “US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin.” Goldman Sachs’ Investment Strategy Group, part of the firm’s…

Read More

Spike in BTC Exchange Inflow Preceded Bitcoin Price Correction to $8.6K

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,…

Read More

Louisiana Might Soon Offers a License to Bring Crypto Business Back

The Louisiana BitLicense is closer than you might think. The state of Louisiana might soon pass a bill to offer licenses for crypto businesses to operate legally, according to a May 25 report. The bill was filed earlier this year with the goal of helping crypto businesses get official licensure and bring more crypto-related business to the state.  The new bill is backed by state representative Mark Weight. If the bill passes, the state would then have a crypto framework to operate from, defining a number of crypto-related terms. The…

Read More

Eight Countries That Don’t Tax Your Bitcoin Gains

As world governments push through legislation to levy taxes on capital gains from bitcoin (BTC) transactions, seeking to earn more from an asset class that frowns on regulatory oversight, there are still a few countries that remain pro-crypto, allowing investors to buy, sell or hold digital assets at zero taxes. Circumstances vary, but the real motivation leans more toward facilitating increased investment within the respective jurisdiction’s cryptocurrency industries, perhaps as a base for future taxation. For now, that has not happened yet. Here’s a list of eight countries – in…

Read More

Jobless South Korean University Graduates Are Increasingly Interested in Blockchain

Can blockchain cure the country’s job creation woes? 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…

Read More

Is Blockstream’s Liquid Network an Attempt to Compete for Tokens with Ethereum?

Blockstream seems to be taking a page out of Ethereum’s book as it sponsored a game that uses Liquid to issue non-fungible tokens, despite earlier criticism of the platform. At Consensus Distributed on May 12, Blockstream presented Lightnite, a Fortnite-like game that uses the Liquid Network for storing non-fungible tokens (NFT) representing game items. While the game is developed by independent company Satoshi’s Games, Blockstream has sponsored the game by running a token giveaway.  The announcement has garnered a considerable amount of criticism from Ethereum (ETH) fans, given the longstanding…

Read More

Visa Approves New DeFi-Enabled Crypto Card in EU and UK

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…

Read More

Ransomware Attacks Are Exploding in the Education Sector

A Verizon report highlights the growing number of ransomware attacks across educational services. Educational services across the globe have been witnessing a surge in ransomware attacks in 2020. According to Verizon’s 2020 Data Breach Investigation Report, ransomware attacks account for approximately 80% of all cyberattacks suffered. The data suggests 92% of these incidents were motivated by financial reasons, while only 3% aimed to perform espionage activities on businesses operating within education. A sharp increase in ransomware attacks since 2019 Ransomware attacks are growing at an alarming rate. Currently accounting for…

Read More

Switzerland Denies $103 Million of COVID-19 Relief for Crypto Valley

Blockchain firms in Zug have very few options. The Swiss government has denied a 100 million franc request by the Canton of Zug for use in keeping local crypto companies afloat, according to local newspaper Tages-Anzeiger. Zug’s finance director Heinz Taennler initiated support for the financial package earlier in April to support local blockchain companies affected by the COVID-19 pandemic, but the answer he’s getting isn’t the one he wanted. The Crypto Valley bailout was reportedly the only one out of “around two dozen” COVID-related applications to be rejected by…

Read More