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Crypto News Digest May 4 – 10

Monday, May 4, 2020

Kyber Network Crystal (KNC) holders will soon be able to delegate their voting rights to StakeWith.US while still receiving voting rewards.

The team behind decentralized application protocol NEAR, which is seen as direct competition to Ethereum, announced the completion of their $21.6 million token sale.

A new European consortium led by IBM will aim to connect renewable energy producers, electricity grid operators, and electric vehicle owners using a Hyperledger Fabric-based solution to manage the electricity grid load.

The Dutch central bank has set an ultimatum to crypto companies to register with the bank in the next two weeks or to cease operations.

A bitcoin freelance developer under the pseudonym 0xb10c has published a research report, according to which broadcasting activity around 13:00 UTC by crypto exchange BitMEX is directly related to network congestion and higher fees for the network users.

Tuesday, May 5, 2020

Crypto intelligence company TokenAnalyst is closing down for good.

Swedish startup ChromaWay has teamed up with local governments to digitize land transactions and land ownership records in Bolivia, Peru, and Paraguay and put them on the blockchain.

A new cross-industry coalition will aim to develop a global standard for digital trust. The coalition has already received support from governments, nonprofits as well as companies in the finance, health care, and enterprise software business.

A Californian lawmaker has proposed to exempt some digital assets from Californian Securities Laws.

Another lawsuit has been filed by a Puerto Rico-based company against Ripple for issuing false or misleading information before its initial coin offering in order to artificially inflate the token’s price. Furthermore, Ripple allegedly failed to register the token sale with the US Securities and Exchange Commission and its token sale represented a purely speculative investment.

Wednesday, May 6, 2020

Public blockchain Nervos Network has launched a startup accelerator program to promote the development of decentralized applications on the platform.

Fintech company Amun has launched a BTCSHORT token, which will track the inverse performance of Bitcoin. The token will be minted on Amun’s platform and will use USDC as collateral.

Irish banks are reportedly closing accounts of cryptocurrency firms due to the unregulated state of the industry as well as risk aversion on their side.

Government officials from the US state of Ohio proposed a bill, which would allow US military members serving abroad to vote electronically over blockchain. According to the bill the blockchain technology can “protect the security and integrity of the process and protect the voter’s privacy”.

The clearing and settlement arm of ErisX has received a BitLicense from New York’s Department of Financial Services (NYDFS).

Former HSBC Chief Legal Officer Stuart Levey became the first CEO of the Libra Association.

A proposal by Ukraine’s energy ministry may push Ukraine’s nuclear power plants into the crypto mining business.

Thursday, May 7, 2020

A new tool from the University of Cambridge is helping to visualize the distribution of bitcoin mining around the world.

The Stellar Development Foundation (SDF) is investing $5 million in crypto wallet and investment service provider Abra ahead of a planned integration with the Stellar network.

A fork of Telegram’s planned blockchain called Free TON has been released by TON Labs with the help of 13 validators.

A new communication standard will help cryptocurrency firms to exchange data in compliance with existing anti-money laundering regulations.

Filecoin is sending hard drives packed with data to future miners to kickstart its blockchain. The hard drives will be 8TB in size, cost $265, and come with instructions on how to link them with the Filecoin system.

The Tudor BVI Global (Hedge) Fund is considering to venture into cryptocurrencies. According to Paul Tudor Jones, Bitcoin shares many similarities with gold in the 1970s, and in this sense, Jones sees Bitcoin as a hedge against inflation.

Video conferencing platform Zoom has acquired secure messaging and file sharing platform Keybase to offer end-to-end encryption to its users.

Digital securities leader Securitize is launching a common identification system to simplify the know-your-customer process for both clients and companies.

Friday, May 8, 2020

Open contracts on Bitcoin options passed the $1 billion mark for the first time.

Bitcoin mining operator and wallet service provider Bixin is launching a fund of funds with a starting capital of 6,600 bitcoins. The fund will primarily seek investments in funds focusing on arbitrage, trend following, and bitcoin futures.

Crypto exchange Bitfinex has launched a derivative, which tracks the Bitcoin Dominance Index – an index representing the market share of Bitcoin relative to the cryptocurrency market.

Coinstar wants to double its Coinme bitcoin ATMs within the next year after seeing adoption rates skyrocket since late February.

Saturday, May 9, 2020

Telegram has agreed to hand over communication and bank records to the US Securities and Exchange Commission as part of the discovery process of the ongoing lawsuit against the messaging platform.

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