OKEx Founder Released from Custody and Denies Fraud

Yesterday, it was announced that OKEx founder Star Xu had been taken into police custody for fraud allegations. If no substantial evidence was found, Xu would be released from custody in a 24-hour period. According to local news reports, Xu has been released and isn’t pleased. OKEx Founder Strikes Back “I have no fictional facts, concealing the truth and defrauding anything, and there is no fact of ‘fraud.’ After I explained it to the police, I left the police station normally,” Xu told the local news outlet, Honeycomb Finance. Xu…

Huobi Global Buys Large Chunk of BitTrade

In a major announcement, Huobi Global buys BitTrade. Huobi Japan Holding Ltd, Huobi Global’s wholly owned subsidiary, just acquired the majority stake of Japan’s BitTrade. Huobi Global owns and operates Huobi, the third largest cryptocurrency exchange by daily trade volume. Huobi Global Buys BitTrade Huobi will partner with BitTrade, one of the only 16 regulated and Japanese government-approved crypto currency trading platforms.https://t.co/7dBwXX5Yag@bittrade_info #Huobi #HuobiGlobal — Huobi Global (@HuobiGlobal) September 12, 2018 BitTrade is one one of only 16 Japanese-government approved and regulated cryptocurrency trading platforms. Huobi currently serves millions of…

Are Stablecoins Viable? One Berkeley Professor Says No

Stablecoins are becoming popular. There’s no denying it; a number have hit the market this year. In fact, just yesterday, the Winklevoss twins announced the Gemini Dollar—the first-ever regulated stablecoin. Not to mention Carbon launched CarbonUSD, a US dollar backed stablecoin, today. And yet, despite the crypto market displaying optimism around the latest trend in the industry, one Berkeley Professor provided an alternative view. He said there is no indication that stablecoins are viable. Berkeley Professor Talks Stablecoins Stablecoins are cryptocurrencies pegged to a stable asset. That’s as simple as…

Carbon Launches CarbonUSD: US Dollar Backed Stablecoin

Crypto project Carbon is launching its own stablecoin called CarbonUSD. According to its website: “Carbon is a price-stable cryptocurrency that is creating a more efficient and inclusive global economy.” The coin will be based on the Ethereum network and is said to be backed one-for-one by the US dollar. Its arrival comes a week after the release of two competitor stablecoins, the Gemini dollar and Paxos Standard. What’s all the fuss about stablecoins? Stablecoins Stablecoins have become a more popular crypto release of recent months. Designed to bring stability to such a volatile market, the idea behind them…

New Security Tokens Trading Platform – Binance & Malta Stock Exchange Sign MOU

The subsidiary of the Malta Stock Exchange, MSX PLC, has signed a Memorandum of Understanding (MOU) with crypto exchange Binance. The pair will launch a new Security Tokens Trading Platform. According to a press release from today, the new trading platform will benefit from the two bodies in two ways:  – From the Malta Stock Exchange’s “26-year track record of operating as a regulated stock exchange,”   – From the international reach of Binance’s business model. Security Tokens Trading Platform And it’s precisely this business model which makes Binance the biggest crypto exchange in the world.…

World Crypto Con Unveils Huge Line-Up of Experiences for Inaugural Event

Event kicks off with Bitcoin’s 10th Birthday Bash; Immersive Activities include Bloqchain Smart Vegas Hackathon, Decent.bet’s Blockchain Poker Tournament, Blockchain eRacing, and Much More NEW YORK, SEPTEMBER 06, 2018 – World Crypto Con (WCC), the cryptocurrency and blockchain industry’s most immersive and interactive conference experience, unveiled today a new line-up of experiences for their inaugural event. A Bloqchain Smart Vegas Hackathon, a Blockchain Poker Tournament, and a welcome Bitcoin birthday party are among the new additions to the conference agenda. The three-day event will take place at the Aria Hotel…

Crypto Daily News: OKEx Founder Arrested by Shanghai Police and Man Lost Life Savings When Bitcoin (BTC) Crashed

In today’s edition of Crypto Daily News, we’ll cover the details of OKEx’s founder being arrested by Shanghai police and the story on the man losing his life savings after Bitcoin (BTC) crashed. Crypto Daily News: September 11th, 2018 OKEx Founder Arrested The top crypto news today revolves around the latest reports of OKEx’s founder, Star Xu, being arrested for fraud by Shanghai police. Sina News: Star Xu, founder of OKCoin/OKEX, is being investigated by Shanghai police. According to Lu Jun, officer at the local PD, Xu was suspected of…

Crypto Canada: First Block Capital Launches Canadian Bitcoin (BTC) Mutual Fund

Yesterday, First Block Capital Inc, a Canadian blockchain and cryptocurrency investment company, announced that its Bitcoin (BTC) trust has achieved mutual fund status in Canada. Due to this, it allows investors to place funds in registered accounts such as Registered Retirement Savings Plans (RRSP) or Tax-Free Savings Accounts (TFSA). Bitcoin Mutual Fund Block’s FBC Bitcoin (BTC) trust allows qualified investors to gain exposure to BTC without having to buy, store or manage the cryptocurrency. These trust units are considered a qualified investment for a mutual fund trust under the Tax…

Stellar (XLM) Embraced by Visa-Backed Blockchain Company

The Stellar Foundation is a non-profit blockchain project that built the Stellar network. The Stellar ecosystem holds the digital token Stellar (XLM), or Stellar lumens. The for-profit subsidiary of the Stellar Foundation, Lightyear, purchased Chain for around $40 million. As part of the all-cash deal, all of Chain’s existing investors, such as Citi Ventures, Visa, and Nasdaq will all receive a return on their initial investment, Chain’s co-founder, Adam Ludwin, told Forbes. “All of the clients that we have now have effectively shifted from using a traditional database model to…

Vitalik Buterin Told Bloomberg that Crypto Won’t See “1,000-Times Growth” Again

Ethereum’s co-founder Vitalik Buterin just recently had an interview with Bloomberg and stated that crypto has neared its “ceiling.” Buterin feels that the days of explosive crypto growth have likely come and gone. Blockchain Ceiling in Sight “The blockchain space is getting to the point where there’s a ceiling in sight,” Buterin told Bloomberg. “If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.” Vitalik…