Blockchain Industry Update (Venmo, Facebook, WeWork, Ubisoft)

Dappros Platform is a friendly Ethereum blockchain in the cloud that is helping many businesses to adopt blockchain technology with five minutes of integration with us. Shortly we will break the news about our new app launch. Stay updated with our current week industry update.

Bitcoin

  • Bitcoin fell 17% from its pick price of $55,000 mainly because of threatening news of regulations from the US Treasury to regulate financial institutions using Digital assets.
  • South Korea to combat ‘illegal’ Bitcoin Transactions. Financial regulators in South Korea will implement tougher rules for cross-border cryptocurrency transactions.
  • Governments can stop Bitcoin by shutting down mining, says Electric Capital exec. “If the U.S. stopped all the U.S. miners, Kazakstan stopped all the miners there — that kind of shuts down 80% to 90% of the hash rate pretty quickly,” said Curtis Spencer.
  • GRAYSCALE adds $283.3M of Bitcoin to GBTC, despite its 13% trading discount. The Grayscale Bitcoin Investment Trust continues to trade at a significant discount compared to the bitcoin it holds.
  • Square says Bitcoin mining is “key to clean energy future”. By combining Bitcoin mining with renewable energy plants, developers can greatly accelerate the adoption of clean energy.
  • China considering Bitcoin as alternative investment. The Chinese government, well known for its stance against Bitcoin and cryptocurrencies in general, seems to be shifting ground.
  • DEX volumes continue to surge even as Bitcoin and altcoins correct. Decentralized exchange volumes are on the rise as the pullback in the price of Bitcoin motivates some traders to book profits and rotate into altcoins.

Crypto

  • TeraBlock exchange raises $2.4M to develop crypto newbie-friendly interface. The platform can reportedly execute trades automatically based on up to four risk-reward profiles that crypto users choose themselves.
  • Gamevil is planning to acquire a 13 percent stake in a leading Korean crypto exchange, Coinone. This comes amid the growing interest in cryptocurrencies in South Korea.
  • Dogecoin Holders target $0.69 with new social media campaign. Dogecoin ups the ante as its community attempts to pump prices to $4.20 by June 9.
  • Atomic swaps and network upgrades send Monero price to a 3-year high. Monero’s price is closing in on its 2017 all-time high as network upgrades, atomic swaps and real-world integrations catch the attention of retail and institutional investors.
  • Dogecoin steals the crypto spotlight as ‘DogeDay’ trends on Twitter. DogeDay is finally here, and cryptocurrency enthusiasts prepare for another bullish impulse that could take Dogecoin to $0.69.
  • Payments giant Venmo is introducing crypto to its 70 million users. The PayPal-owned platform will now allow people to buy, hold and sell four leading cryptocurrencies via its mobile app, starting today.
  • The cryptocurrency proposed by social media giant Facebook is gearing up to launch using a “phased approach,” its co-creator explains. The Diem Association, which oversees the crypto’s development, has been in talks with regulators to obtain a license.
  • Cuba adopts cryptocurrency as part of the communist party agenda. The country has been exploring the idea since at least 2019. Now the government is making crypto officially part of its economic policy.
  • Softbank-Backed WeWork adopts crypto as form of payment and holds in balance sheet.
  • CEO of a Turkish Crypto Exchange Thodex reportedly runs off with $2 Billion. Several reports suggest that the CEO of a Turkish exchange has run away with up to $2 billion in users’ funds. Authorities have launched an investigation.
  • Tether gets Coinbase’s seal of approval, will list on pro offering. Coinbase seems to be signaling that the Nasdaq-listed crypto exchange is not concerned about the stablecoin’s regulatory issues.
  • Seoul government seizes $22M worth of crypto from tax evaders. The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents.
  • Investment services firm Charles Schwab is keeping an eye on the developments in the crypto space as the company with over $7 trillion in client assets says the doors are open for supporting Bitcoin and crypto markets.
  • 14% of Americans own cryptocurrencies as people’s interest increases in the sector, found a survey by the Winklevoss-run crypto exchange, Gemini.

Digital Currency

  • China aims to let foreigners use digital yuan at Winter Olympics in 2022. China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022.
  • The U.S. Securities and Exchange Commission is accusing Ripple Labs of harassment, requesting that the court limit the payment giant’s access to internal SEC documents.

Blockchain

  • Uniswap’s weekly trade volumes reach the record high of $10B.
  • Gaming Giant Ubisoft becomes a Tezos Baker. French game publisher Ubisoft has partnered with Tezos, becoming an official corporate validator node on its blockchain.
  • PancakeSwap eclipses Ethereum network in 24-hour transactions. Transactions on the Binance Smart Chain are exploding, with PancakeSwap leading the way.
  • Algorand pledges carbon-negative blockchain. Algorand and ClimateTrade are working on a sustainability oracle that would drive down carbon emissions.

NFT

  • Major auction house Phillips just sold its first non-fungible token for $3.4 million. The digital artist who created the NFT, Micah Dowbak or “Mad Dog Jones,” says the piece explores how technology has changed through time.

Have read our previous blog post here.

Credit: Telegram VYSYN – Capital News

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Mansi Nashte
Articles: 57

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