Bithumb has sold more than 38 percent of its total ownership
Yesterday, according to a report by CoinDesk Korea, Bithumb confirmed a deal with BK Global Consortium, a blockchain investment firm formed by BK Global, a plastic surgery medical group in Singapore where the largest cryptocurrency exchange in South Korea by trading volume, sold more than 38 percent of its total ownership to the blockchain consortium for 400 billion won, or $350 million. Kim Byeong-kun, a plastic surgery surgeon from Seoul National University College of Medicine stated:
"[Translated] The consortium has evaluated the value of Bitsum over 1 trillion won and signed an acquisition contract for about 400 billion won. The consortium is a global block-chain investment group led by Singapore-based BK Group. Through the business link with Bitsum, we plan to create Bitsum and synergy in various aspects such as settlement platform construction and the creation of a cryptographic ecosystem."
Read more here
Crypto.iq Responds to Genesis Vision’s Restriction of US Users
Recently, Genesis Vision, a company that aims to combine exchanges, brokers, traders and investors into a decentralized and open network, announced that it will stop US users from accessing its asset management platform when it launches on 30th of October, in a pre-emptive move to protect itself from any potential action by the U.S. SEC. Charlie Shrem’s Crypto.IQ has reacted to the decision, describing it as “smart” while berating the SEC for creating an environment of fear and uncertainty in crypto investment. Adding that it is understandable that Genesis Vision wants to cover its own bases, and they do not blame the company for protecting itself from the SEC. Crypto.iq stated:
'We would like American participation, but we don’t want to be 1Broker’ed by the SEC.' It’s the smart thing to do. Of course, we want access to the platform, but we also don’t want to torpedo the project before it can really take off.
Read more here
Chinese Government Should Launch its own Stablecoin
Recently, Li Liangsong and Wang Huaqing, researchers from the People’s Bank of China (PBoC), stated that the Chinese government should consider creating its own yuan-backed stablecoin on the CN finance bi-weekly magazine. The researchers expect that USD-backed stable coins will increase the role of the US dollar on a global scale and start suppressing other fiat currencies, the Chinese yuan being one of them. They stated:
"If the U.S. dollar-pegged stablecoins can eventually be widely recognized by the market and can prove their use in the real economy, we should double down on our research efforts [on the issue] and learn from relevant experience to support domestic institutions to issue yuan-pegged crypto stablecoins"
Read more here
MJAC Conference
Dear users, it’s with great pleasure that we invite you to attend the MJAC blockchain conference.
Hosting the biggest and brightest blockchain leaders, the MJAC conference will be the perfect place to learn, network and discuss the future of the crypto industry.
The event counts with a long list of sponsors and media partners. You can count on a great variety of exhibitions booths and many prominent speakers. The list of speakers includes the founder of Atlas Neue and former CCO of Ethereum Stephan Tual, Circle’s European Legal & Business Director Claire Wells, Global CMO and EMEA Managing Director at Circle Marieke Flament, Ripple’s Head of European Regulatory Relations Dan Morgan, founder of Atlas Neue Cassius Kiani, Head of ICO Advisory at NKB Group Marina Titova, CEO and Co-founder of Coinfloor Ltd Obi Nwosu, and European Marketing Lead at Coinbase Joseph-Daniel Millwood, among many others.
The event will take place November 30th on Old Billingsgate, a historical event venue located in the heart of London.
Get your tickets here (use the CC30 discount code to get 30% off)
