Cointime

Cointime

Download App
iOS & Android

Investment Drama of Bankruptcy Claims Exchange OPNX; Intel Ends Bitcoin Mining Chip Business | Cointime Weekly Apr.16 – Apr.22

Top stories

OPNX Investment Fiasco: Backers Deny Investment, OPNX Expressed Disappointment 

Open Exchange disclosed its institutional backers and strategic partners, including AppWorks, Susquehanna (SIG), DRW, MIAX Group, China Merchant Bank International, Token Bay Capital, Nascent, and Tuwaiq Limited. However, institutions such as DRW, MIAX Group, Nascent, and Susquehanna have since denied investing in the exchange.

The exchange expressed disappointment in the misrepresentation and stated that it would prefer not to have these parties as investors in the future.

Intel Signals End of Bitcoin Mining Chip Business

Intel will discontinue its Blockscale Bitcoin mining chip line, a year after it debuted the product.

Coinbase Receives License To Operate in Bermuda

Coinbase (COIN) has obtained a license to offer its services in Bermuda as part of its international expansion efforts, the firm announced in a blog post on Wednesday.

Gemini Launches Derivatives Platform, Available Only Outside of US

The platform will offer its first derivatives contract in the form of a BTC perpetual contract denominated in Gemini dollars, an ETH/GUSD perpetual contract will be introduced subsequently.

Apple Crypto Users Potentially Exposed to iOS, MacOS Vulnerabilities

Wu Blockchain warned Apple crypto users that operating system vulnerabilities could expose them to attackers. Linking an article from Kaspersky, it was noted that these are “high threat” vulnerabilities applicable to iOS and macOS.

Global regulations

EU Parliament Approves Crypto Licensing, Funds Transfer Rules

The European Union has voted in favor of a comprehensive crypto law, the Markets in Crypto Assets regulation (MiCA), with 517-38 in favor, making it the first major jurisdiction to introduce such a law. 

Hong Kong Court Recognizes Crypto as Property

Hong Kong's High Court has ruled that cryptocurrency is property, marking the first such decision regarding digital assets in the city-state. The ruling was made in a legal matter involving defunct crypto exchange Gatecoin, with the court determining that crypto has all the qualities of property and can be held on trust. 

Russian Central Bank Allows Experimental Use of Cryptocurrency

The head of the Russian Central Bank, Elvira Nabiullina, has announced that the bank is considering the experimental use of cryptocurrency for foreign settlements. She also stated that special organizations will be created for this purpose, and a draft law is currently being prepared.

China’s State-Affiliated Banks Are On-Boarding Crypto Companies in Hong Kong

The Hong Kong arm of Bank of Communications and ZA Bank are collaborating with several cryptocurrency businesses registered in the city and facilitating the depositing and withdrawal of fiat currencies. 

Bank of England Considers Limits on Stablecoin Payments

The Bank of England (BoE) will consider whether to put limits on stablecoins used for payments in new rules for the sector, Deputy Governor Jon Cunliffe said in a speech on Monday.

Crypto weekly price action

Fundraising and investment

Hitachi Establishes $300 Million Third Fund for Hitachi Ventures

Hitachi, Ltd. announced the establishment of a third fund for Hitachi Ventures (HV), the global corporate venture capital arm of Hitachi, for the purpose of accelerating innovation and initiating new business opportunities in the digital domain.

GPU-focused Cloud Computing Startup CoreWeave Raises $221M

NYC-based cloud computing startup CoreWeave, which began as an Ethereum mining venture, has raised $221m in a Series B funding round led by Magnetar Capital, with participation from Nvidia, former GitHub CEO Nat Friedman and ex-Apple exec Daniel Gross.

Unchained Raises $60M to Offer Collaborative Custody Bitcoin Services

Unchained Capital, a financial services provider for Bitcoin (BTC) holders, has raised $60 million in a Series B funding round led by Valor Equity Partners, with participation from NYDIG, Trammell Venture Partners, Ecliptic Capital, and Highland Capital Partners.

Berachain Raises $42 Million to Launch Yet Another Layer 1 Blockchain

Bear-themed crypto project Berachain, run by pseudonymous co-founders Homme Bera, Dev Bear, Papa Bear and Smokey the Bera, has raised $42m to launch a new Layer 1 blockchain. Polychain Capital led the funding, with Hack VC, Shima Capital, Robot Ventures, Goldentree Asset Management and others participating.

KRAFTON and NAVER Z Expand Metaverse Strategy with $36M Joint Venture

KRAFTON and NAVER Z are forming a joint venture for a new metaverse platform called "Migaloo," with an initial investment of 48 billion Korean won (~$36.4 million). KRAFTON will own 85% of the entity, while NAVER Z will own the remaining 15%. 

XRSPACE Secures $25M Funding Round Led by Foxconn

XRSPACE has raised $25 million in a funding round led by Foxconn Technology Group, with Taiwan’s National Development Fund investing $10 million.

Research and technology

Web3 Gaming Protocols Analysis

Blockchain gaming or Web3 gaming decentralizes certain parts of and activities within gaming ecosystems and platforms. Over the last few years, it has gained a lot of attention — from game developers, users, and investors.

Overview of the Technology Stack for NFT Marketplace Development

We will delve into the technology stack used for NFT marketplace development. We will discuss the importance of selecting the right technology stack and its components. 

Decoding Sentiment Protocol’s $1 Million Exploit

The attackers exploited this vulnerability, stealing approximately $1 million. Fortunately, the attacker returned around 90% of the stolen funds.

What Is a ZkEVM and How Can It Enhance the Ethereum Ecosystem?

zkEVMs extend the capabilities of zero-knowledge rollups (zk-rollups) on Ethereum to support decentralized applications (DApps).  zkEVMs make it easy to deploy both existing and new Ethereum projects using ZKPs to enhance the Ethereum ecosystem.

Viral Quotes

"It's ugly for firms to seek financial gain while simultaneously denying association due to fear of social media backlash."

– Open Exchange responded to recent denials from backers regarding their investment

"The SEC has caused untold harm to America with its policy of regulation by enforcement. We will fight to fix that."

– Brian Armstrong , Coinbase CEO

"Gary Gensler is an incompetent 'cop on the beat.' He's actively putting everyday Americans in harm's way and pushing American firms into the hands of the Chinese Communist Party."

– Republican Tom Emmer (R-MN)

Apple Gemini Coinbase Cryptocurrency Metaverse stablecoin Hong Kong bitcoin mining
Comments

All Comments

Recommended for you

  • Blast DEX Thruster receives $7.5 million in seed round funding

    The decentralized trading protocol Thruster based on Blast raised $7.5 million in seed funding led by Pantera Capital, bringing Thruster's valuation to $70 million. Angel investors include Santiago Santos, Frax founder Sam Kazemian, Pendle founder TN Lee, Stacked founder Alex Lin, Renzo founder Kratik Lodha, and Axelar founder Georgios Vlachos also participated in this round of funding.

  • Hong Kong Treasury Secretary: Will submit a draft bill on stablecoin and virtual asset over-the-counter trading services to the Legislative Council

    According to a report by Caixin, Hong Kong Financial Secretary Paul Chan Mo-po introduced the expenditure budget and work focus for the fiscal year 2024-25, stating that a variety of central bank digital currency cross-border networks (mBridge) are expected to be launched this year, with the first phase of services focusing on settling cross-border transactions for enterprises using various central bank digital currencies. In addition, the "digital renminbi" will also expand its pilot scope in Hong Kong, further improving cross-border payment efficiency and user experience. In terms of virtual assets, the government is promoting a series of measures to strengthen regulation and promote the stable and responsible development of the virtual asset market in Hong Kong. Specifically, the Hong Kong Monetary Authority launched a stablecoin sandbox in March this year, allowing institutions interested in issuing stablecoins to conduct testing within a controlled range. The government has also consulted the public on the regulation of fiat-backed stablecoin issuers and virtual asset over-the-counter trading services, and is considering the feedback received. Depending on the progress of preparatory work, the draft legislation will be submitted to the Legislative Council as soon as possible.

  • Three men and women arrested for laundering more than 1.8 billion yuan from virtual currency trading platforms and bank accounts

    Hong Kong Customs broke up a money laundering syndicate and arrested three local suspects who are suspected of using virtual currency trading platforms and multiple local bank accounts opened by companies to process over 1.8 billion yuan of funds with unknown sources. Customs officials targeted the three suspects based on intelligence and launched a wealth investigation, discovering that the three individuals conducted over 1,000 suspicious transactions between June 2021 and July 2022 through the opening of multiple local companies and bank accounts, including the transfer of funds from virtual currency trading platforms, involving more than 1.8 billion yuan.

  • BTC halving countdown only 1 day left

    According to Ouke Cloud Chain data, there is only 1 day and 17 hours left until the BTC halving countdown, which is expected to occur on 2024/04/20. The current block reward is 6.25 BTC, and after the halving, the block reward will be 3.125 BTC. There are currently 253 remaining blocks, the current network hashrate is 587.96 EH/s, the network mining difficulty is 83.95 T, and the average block time is 9.94 min.

  • The total open interest of BTC options is $21.24 billion, and the open interest of ETH options is $9.42 billion.

    According to Coinglass data, the nominal value of open BTC option positions on the entire network is $21.24 billion, and the nominal value of open ETH option positions is $9.42 billion.

  • CZ launches testnet course on Giggle Academy

    CZ, the former CEO of Binance, announced the test network course of the recently launched education project Giggle Academy. CZ shared a video clip on his X account, which involved a course in an installable Android software package (Apk).

  • After the Bitcoin halving, new mining output will be reduced from 900 to 450 per day

    According to HODL15Capital's monitoring, after the halving of Bitcoin, its newly mined output will be reduced from 900 coins per day to 450 coins per day. Based on the current price, purchasing all of these new outputs would cost approximately $28 million.

  • New Stablecoin Bill Introduced in US Senate to Regulate Dollar-Pegged Digital Assets

    Senators Cynthia Lummis and Kirsten Gillibrand have proposed a new bill that aims to establish definitions for dollar-pegged digital assets and their issuers. The bill mandates that payment stablecoin issuers meet reserve and operational requirements, including creating subsidiaries specifically for issuing stablecoins. Additionally, stablecoin issuers must deal in dollar-backed tokens and ensure their tokens are fully backed by reserve assets. The proposed legislation seeks to define how stablecoins will operate in the US and would prohibit algorithmic stablecoins. There are ongoing discussions about attaching stablecoin legislation to a must-pass bill reauthorizing the Federal Aviation Administration, and Senator Sherrod Brown has indicated that specific safeguards must be included for the legislation to move forward.

  • HKMA issues distributed ledger technology guidance to banks

    Hong Kong Monetary Authority has issued guidelines to local banks on the use of distributed ledger technology (DLT) and support for the development of Hong Kong's virtual asset ecosystem, in order to support banks in using DLT in a risk-controlled manner. Through clarifying the main regulatory considerations of the Authority, it aims to further promote the wider application of DLT in the industry, including establishing appropriate governance, ensuring the design suitability of DLT application projects, and continuous maintenance and supervision of DLT projects. In order to accommodate the diverse development of technology and the market, the Authority will continue to maintain close communication with the industry and support the orderly development of Hong Kong's virtual asset ecosystem in a risk-controlled manner.

  • UK to Issue New Legislation for Stablecoins and Crypto Activities by June/July, says Economic Secretary

    The U.K. government plans to introduce new legislation for stablecoins, as well as for crypto staking, exchange, and custody by June or July of this year. Economic Secretary Bim Afolami announced this at the Innovate Finance Global Summit on Monday, stating that the government aims to make the U.K. a global hub for crypto. The legislation will bring a range of crypto asset activities within the regulatory perimeter for the first time. The U.K. passed a financial markets bill in 2023, laying the foundation for regulated financial activities in the country, and the government has consulted with local regulators on its ambitions to regulate crypto.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company