Charles Schwab Exec Joins Coinbase Board

Chris Dodds, who serves on the board of directors of the Charles Schwab Corporation, has joined cryptocurrency exchange Coinbase‘s board of directors, according to an announcement published October 2. The Charles Schwab Corporation is a brokerage, banking and financial advisory services firm based in San Francisco. Per the firm’s annual report, the company had $3.36 trillion in client assets, 10.8 million active brokerage accounts, and 1.2 million banking accounts, as of December 2017. In addition to the Coinbase board, Dodds will reportedly contribute to the exchange’s expansion in terms of…

Binance Labs Invests ‘Millions’ in Decentralized Digital Content Monetization Startup

Binance Labs has reportedly invested millions of dollars in decentralized digital content ecosystem Contentos, according to a press release published October 1. Founded by the largest cryptocurrency exchange Binance, Binance Labs is an initiative that seeks to support early-stage blockchain and digital currency projects and entrepreneurs by making direct investments, as well as mentoring and providing technical advice to projects. Per the press release, Binance Labs made a “multi-million” dollar contribution to decentralized digital content ecosystem Contentos, but the exact amount of secured investment was not disclosed. Within the investment…

Blockchain Market Could Hit $7 Bln, Will Give Boost to Amazon, Microsoft

The Bank of America (BoA) has estimated that blockchain could be a $7 billion market and provide a major boost to corporate giants such as Microsoft and Amazon, CNBC reports Oct. 2. While BoA’s analysts refrained from putting “a time stamp” on the industry becoming a major, multi-billion dollar addressable market, they reportedly based their estimates on a ballpark figure that two percent of corporate servers would be used to run blockchain at a cost of $5,500 annually. BoA research analyst Kash Rangan told CNBC that the technology is well-suited…

Crypto Markets Remain Shaky, NEM Continues Rising for the Second Day

Tuesday, October 2: crypto markets are seeing mixed signals, with up and down fluctuations for the last few hours and most of the top 20 cryptocurrencies by market cap seeing losses, according to CoinMarketCap. However, in terms of the 100 top cryptocurrencies, around half of the markets are in the green today. Market visualization from Coin360 After seeing a slight growth on September 30,  Bitcoin (BTC) continues seeing losses. The major cryptocurrency is up around .015 percent over the past 24 hours, trading at $6,564 at press time. While Bitcoin…

Puerto Rico’s Noble Bank Reportedly Loses Clients Tether, Bitfinex, Seeks Buyer

Puerto Rico’s Noble Bank International, which is known for reportedly opening accounts for USD-backed token Tether and crypto exchange Bitfinex, is allegedly searching for a buyer, Bloomberg reports Thursday, October 2. Citing an unnamed person familiar with the case, Bloomberg reports that Noble Bank has lost Tether and Bitfinex as clients, among others, and is currently on the search for a buyer. The bank, which sources tell Bloomberg is no longer profitable, might sell for a price from $5 to $10 million, which is mostly formed by the value of…

South Korea’s Democratic Party Lawmaker Urges Authorities to ‘Open Up the Road’ to ICOs

A member of South Korea’s National Assembly has called on the state to “open up the road” to Initial Coin Offerings (ICO) by easing regulations, South Korean financial outlet Economy reports October 2. According to the article, Min Byung-doo, a Democratic Party lawmaker, will introduce a project of for ICO legislation at the next round of the National Assembly. He claimed that the purpose of the new legislation is to allow ICOs while enforcing strict regulation for the negative parts of the industry, noting: “We are looking at ways to…

Venezuela’s Controversial Petro Sale Starting November, Maduro Claims

Venezuelan president Nicolas Maduro has appeared on national television to announce the official launch of the national cryptocurrency Petro, according to a brief summary of his speech posted on Venezuela’s government website Monday, October 1. Maduro stated that the official website for the Petro has already been launched, and the official Petro wallet is also available in Google Play. However, the public sale will only start November 5. Maduro also stressed that Petro will be available on six major crypto exchanges starting Monday, October 1. The Venezuelan president did not…

Blockchain-Based Ad Startup to Refund Contributors if Development Milestones Aren’t Met

A digital advertising startup with the goal of “building a better internet” for web users, publishers and advertisers is embarking on the second round of its token offering – but with a twist. Varanida says its blockchain has been built for three reasons: improving transparency for brands, increasing revenue for publishers, and giving the public a better experience when they are browsing the internet. The company plans to achieve these goals by “improving online digital content and creating incentives for less intrusive ads that people actually want to see.” Founded…

Venture Capital Investment in Blockchain and Crypto Up 280% in 2018, Report Shows

“Traditional” venture capital (VC) investment in blockchain and crypto firms has almost tripled in the first three quarters of 2018, according to a new Diar report published September 30. Diar cites data from Pitchbook that indicates that blockchain and crypto-related firms have raised almost $3.9 billion in VC capital in so far this year — a 280 percent rise as compared with last year. The rise comes not just in terms of an increasing number of deals, but also in the burgeoning median value of each, which has grown by…

Italian Banking Association Completes First Test of Blockchain-Based Interbank System

The Italian Banking Association (ABI) has revealed they successfully passed the initial phase of testing their blockchain-powered interbank system, Italian financial media outlet Ansa reported September 29. By applying distributed ledger technology (DLT), the group of 14 Italian banks is planning to improve interbanking processes. Specifically, the association intends to boost the processing time of operations, increase the transparency of banking information, and enable the verification and exchange of information directly within the application. According to local Italian source Corriere Nazionale, the application of blockchain technology will also assist in…