Singapore Startup Secures $12.3 Bln in Assets on Blockchain Platform

Singapore-based crypto-finance company FUSION has secured $12.3 bln in financial assets from three strategic partners, who will lock those assets on the startups’ public blockchain platform, Reuters reported June 1. The funds were reportedly provided by three companies, FormulA, Carnex, and KuaiLaiCai, which operate in the fields of asset management, car financing, and restaurant supply chain management, respectively. By depositing the sums on the FUSION blockchain, the participants commit to using the blockchain to manage and process transactions from those funds. By using FUSION, the companies reportedly will receive access…

Mount Everest Crypto Stunt | Crypto in May Shocked the Community

Mount Everest Crypto Stunt: Most crypto enthusiasts are aware that May was a busy month. There was stuff happening in the space almost every week. Companies announced new partnerships and rolled out new projects. Governments around the globe met to discuss crypto regulation. And some cryptocurrencies plunged on the market for what seemed like the entire month.  Amid the overload of crypto news, there was a devastating exception. Last week, four crypto enthusiasts and three Sherpa’s summited Mount Everest, the highest mountain above sea level. The decision to summit Everest…

EOS About to Secure a Record $4 Bln in Year-Long ICO

Block.one’s EOS will complete its year-long token crowdsale later today, becoming the largest initial coin offering (ICO) in history having raised a total of over $4 bln. The highly-anticipated formal release of the accompanying software, which proponents claim will constitute a decentralized operating system for large-scale decentralized applications, will also see developers prepare token migration to new EOS wallets. The move is significant, EOS having fallen victim to mounting suspicion over its long-term efficacy as well as its token’s genuine value in recent months. Among critics was Dogecoin creator Jackson…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Price Analysis, June 01

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. The market capitalization of the crypto world has increased by about $25 billion since May 29. The Italian political crisis and the probable escalation of a trade war have attracted investors back into cryptocurrencies. Dan Morehead, founder of Pantera Capital Management believes that…

Blockchain Media Company Acquires the Beyond Bitcoin Documentary at Cannes Film Festival

Blockchain media company Slate Entertainment Group revealed its ‘seven figure deal’ on acquiring rights for a documentary about blockchain during the Cannes film festival, company representatives reported to Cointelegraph. A new lead to the movie business Slate intends to broadcast the documentary Beyond Bitcoin via its blockchain based online streaming platform Binge. The decentralized Binge platform provides low-cost, high-speed, high-definition media access for consumers worldwide, says the text of the press release. During the Cannes festival in May 2018, Slate appeared at the center of the buzz surrounding blockchain technology…

Visa Card Payments Failing in UK, Europe, Highlighting Need for Decentralized Options

Visa has said that their card payments are experiencing disruptions across Britain and Europe, the BBC reports today, June 1. Visa, which handles over 150,000 mln transactions a day, tweeted about the service disruption, noting that they will keep updating as they resolve the situation: We are currently experiencing a service disruption which is preventing some Visa transactions in Europe from being processed. We are investigating the cause and working as quickly as possible to resolve the situation. We will keep you updated. — Visa UK (@VisaUK) June 1, 2018…

One of Europe’s Most Energy-Efficient Data Centers Tests BTC, ETH Mining

Holland’s ITB2 Data Center has set up a cryptocurrency mining lab for Bitcoin (BTC) and Ethereum (ETH), according to a report by Emerce Thursday, May 31. The main purpose of the lab is to test the impact of blockchain technologies as regards their energy consumption and infrastructure cooling. The cryptocurrency lab will be housed in a 1500 m² ITB2 Data Center’s Apeldoorn location, which opened in 2013 and has a power usage effectiveness (PUE) value of 1.08, according to Emerce report – PUE being a ratio measuring the efficiency of…

Huobi Partners on $93 Million China-South Korea Blockchain Fund

Hot on the heels of its recently announced cryptocurrency ETF offering, Huobi has revealed a new partnership that will see it launch an investment fund dedicated to blockchain startups in China and South Korea. According to a report by the China Money Network on Friday, the cryptocurrency exchange has teamed up with Chinese investment firm NewMargin Capital and South Korean securities firm Kiwoom Securities on the joint effort. Banks from South Korea, including Korea Development Bank and Industrial Bank Of Korea, are to invest in the fund as limited partners, the…

Financial Watchdog Probes Crypto Exchanges Over AML Compliance

Japan’s Financial Services Agency (FSA) has issued business improvement orders to multiple domestic crypto exchanges, Cointelegraph Japan reports today, June 1st. One of FSA’ main concerns is the exchanges’ compliance with anti-money-laundering (AML) requirements. The agency’s inspections revealed that several of the crypto exchanges under its aegis are failing to apply sufficient Know-Your-Customer (KYC) checks to confirm the identity of their users and prevent ‘bad actors’ from trading. The regulator has also raised concerns about cases where it claims that customers’ assets are not being adequately separated from those of…

Ex-Thomson Reuters Senior Executive Joins Blockchain KYC Startup

Canadian blockchain regulatory compliance startup iComply Investor Services has hired a former Thomson Reuters executive as its head of strategy, Coindesk reports June 1. Greg Pinn, who previously served as head of the corporation’s risk intelligence and financial crime screening platform, has already taken up the post. Launched in 2017, iComply seeks to leverage blockchain in order to improve adherence of industry businesses to know-your-customer (KYC) rules, which executives have claimed forms a weak link in the industry. The move marks the company’s second high-profile hire this year, with former…