Jack Dorsey’s payment firm Square is inviting cryptocurrency firms to join an “alliance” to pool patents and preserve the crypto industry’s open-source spirit.

Leading cryptocurrency exchange Binance is offering $100 million to attract developers to build decentralized finance projects on the Binance Smart Chain, its blockchain platform that has smart contracts.

San Francisco-based cryptocurrency exchange Binance has announced it is going to list two decentralized finance (DeFi) tokens on Coinbase Pro, its trading platform to experienced traders. The tokens are Yearn.Finance’s YFI and exchange protocol Loopring’s LRC token.

Cryptocurrency hardware wallet manufacturer Ledger is running a back to school campaign from September 7 to September 21, in which you can get 20% off by using this link. Use the link and get a Ledger Nano X or Ledger Nano S with a 20% discount.

Top stories in the Crypto Roundup today:

• Square Forms Group to Stop Patent Trolls From Hindering Crypto Innovation
• Binance Offers $100 Million to Attract DeFi Projects to Its Blockchain
• Yearn Finance’s YFI, Loopring’s LRC Surge on Coinbase Listing Announcement
• Secure Your Cryptoassets: Get 20% Off On a Ledger Hardware Wallet

Square Forms Group to Stop Patent Trolls From Hindering Crypto Innovation

Jack Dorsey’s payment firm Square is inviting cryptocurrency firms to join an “alliance” to pool patents and preserve the crypto industry’s open-source spirit.

The Cryptocurrency Open Patent Alliance (COPA) is a non-profit organization that wants to stop companies from “locking up” useful technologies using patents, a practice that according to Square could stifle innovation. Square said in a statement:

"Locking up foundational cryptocurrency technologies in patents stifles innovation and adoption; and offensive use of patents by bad actors threatens the growth of cryptocurrency technologies."

While some companies guard their own work in crypto using patents, others go further with the filing of “pre-emptive patents” for ideas that they do not plan on developing, hindering the research of competitors.

To be a part of COPA, members have to pledge to make their patents freely available to all other members using a shared library. The library, Square says, will act as a “collective shield” protecting the alliance’s members from “patent aggressors.”

The number of cryptocurrenciy and blockchain-related patents in the U.S. reportedly doubled between 2016 and 2017. Last year, Microsoft filed a patent for a mining system powered by physical exertion, while IBM filed one for a token that is “self-aware.” Companies who work in crypto but do not have patents will be eligible to join COPA.

Binance Offers $100 Million to Attract DeFi Projects to Its Blockchain

Leading cryptocurrency exchange Binance is offering $100 million to attract developers to build decentralized finance projects on the Binance Smart Chain, its blockchain platform that has smart contracts.

Binance community members will act as a governance party for assigning out the funds, using the same criteria to choose projects that Binance X, Binance OLAbs, and Binance Launchpad – several of the firm’s fundraising and investing initiatives – use.

Chosen projects will get up to $100,000 in funding. If they pass security audients and Binance’s due diligence, their token may even be listed on Binance.com. Binance’s users may soon also be able to access many of the projects on Binance Smart chain directly from Binance itself.

Yearn Finance’s YFI, Loopring’s LRC Surge on Coinbase Listing Announcement

San Francisco-based cryptocurrency exchange Binance has announced it is going to list two decentralized finance (DeFi) tokens on Coinbase Pro, its trading platform to experienced traders. The tokens are Yearn.Finance’s YFI and exchange protocol Loopring’s LRC token.

On September 14, Coinbase users will be able to send YFI and LRC tokens ot Coinbase Pro,  with the order books beginning on September 15 once liquidity conditions are met. The tokens will be available on all of Coinbase’s jurisdictions, except New York.

On the news, the YFI token’s price moved up over 29% to test the $35,000 mark. Since then its price has corrected slightly, and YFI is currently trading at $32,600.  Similarly, Loopring’s LRC token price jumped from $0.22 to $0.28 on the announcement, and has corrected to $0.247.

Coinbase also had an announcement about UMA: from today, support for the UMA token is available at Coinbase Consumer’s website (Coinbase.com) and in Coinbase Consumer’s mobile apps. This support is available “in all Coinbase-supported regions, with the exception of New York State.”

Binance swaps 1B Tether from TRON to Ethereum, to keep up with yield farming demand.

Tether's on-chain data taken from Flipside Crypto's Data Cooperative. On August 20th, a total of 1 billion USDT were sent from Bitfinex's hot wallet to one Binance deposit wallet. A deeper dive into individual transactions reveals this move consisted of two separate transactions that can be found on TRON. This suggests Binance needed more USDT on Ethereum, probably to keep up with the current boom in DeFi activity, and yield farming in particular. Binance has done this in the past - notably in July this year when it transferred 300M USDT from TRON to Ethereum. 

Secure Your Cryptoassets: Get 20% Off On a Ledger Hardware Wallet

If you have ever invested in cryptocurrencies chances are you know hardware wallets to store your assets offline are more secure than so-called hot wallets. Hot wallets are connected to the internet, which means that if hackers compromise your computer or mobile device they can get to your crypto.

Hardware wallets, on the other hand, store your assets offline. Even if hackers get to your personal devices, your cryptoassets will remain secure. The problem is hardware wallets are often expensive and some users choose not to buy them.

Cryptocurrency hardware wallet manufacturer Ledger is running a back to school campaign from September 7 to September 21, in which you can get 20% off by using this link. Use the link and get a Ledger Nano X or Ledger Nano S with a 20% discount.

CryptoCompare has reviewed the Ledger Nano X in the past: it’s a Bluetooth-enabled hardware wallet that supports over 1,000 cryptoassets. Our users seem to love it.

 

Press Release

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.