Crypto Users Increased to 35 Million in 2018

As we approach the new year, it’s time to reflect on all that happened in 2018. In the cryptocurrency sector, there were a few ups and downs, more so than in 2017, the year the crypto boom took flight. But while various companies (and coins) had their share of plunges, the number of crypto users in 2018 doubled. Well, almost. Crypto Users in 2018 On Wednesday, December 12th, the Cambridge Centre for Alternative Finance published a study detailing the number of ‘verified’ crypto users the sector gained in 2018. The…

Gov’t Report Recommends $570 Million Blockchain Investment

French political deputies want to spend €500 million (about $569 million) on state-level blockchain deployments over the next three years, local daily news outlet Les Echos reported Dec. 12. Citing a report published Wednesday, the publication said both blockchain and cryptocurrency interaction was high on the agenda of two members of parliament (MP), who are pushing the initiative forward in an effort to make France a “Blockchain Nation.” The politicians are also looking to play an active role in fostering Bitcoin mining in the country. “2018 was the ‘year zero’…

Pro-Crypto French MPs Want to Invest 500 Million Euros to Make France ‘Blockchain Nation’

Two pro-crypto members of the French Parliament (Parlement français) want the country to invest up to 500 million euros in blockchain programs to elevate France as a “blockchain nation.” Deputies Jean-Michel Mis and Laure de La Raudière released a report on Dec. 12 outlining 20 proposals to support the development and mainstream adoption of blockchain, according to French financial newspaper Les Echos. “2019 will be the year of the blockchain in France,” Jean-Michel Mis said in the report, according to a rough translation. “This 10-year technology is moving out of the…

AriseBank Founders to Pay $2.7 Million in Fines to Settle ICO Fraud Charges

  A United States federal court has ordered two executives from crypto firm AriseBank to pay nearly $2.7 million in fines, according to a U.S. Securities Exchange Commission (SEC) announcement Dec. 12. The ruling follows an investigation by the SEC, which found that AriseBank was  operating a fraudulent Initial Coin Offering (ICO). AriseBank CEO Jared Rice was arrested by the Federal Bureau of Investigation (FBI) on Nov. 28 on charges of defrauding hundreds of investors of over $4 million. Rice allegedly falsely claimed that the bank could offer customers “FDIC-insured…

Galaxy Digital and Block.One Lead $30 Million Funding Round for US Disruptor Bank

Cryptocurrency-focused merchant bank Galaxy Digital and Block.One have led a $30 million Series A investment round in U.S. neo-banking platform Good Money. The news was confirmed by a press release Dec. 10. Aiming to balance user ownership with part donation of profits and equity, Good Money provides banking services and a handful of associated financial instruments to U.S. account holders. The investment came mostly via Galaxy and Block.One’s joint Galaxy EOS VC fund, one of several funds under the Block.One umbrella. “Modern banking is a primary driver of so many…

EOS DApps Lose Almost $1 Million to Hackers Over the Last Five Months

Decentralized apps (DApps) based on the EOS blockchain have lost up to $1 million to hacks since July, Chinese crypto media Blockchain Truth reports Tuesday, Dec. 4. The report cites data by PeckShield, a blockchain security company that monitors different ecosystems. According to the report, the DApps on EOS have seen 27 breaches from July to late November, losing up to 400,000 EOS, or 8 million yuan. As of press time, the amount hacked was worth $800,000 according to the EOS price chart on CoinMarketCap. Nonetheless, Guo Yonggang, an expert…

Morgan Creek Is Betting $1 Million That Crypto Can Beat the S&P

Morgan Creek Digital, an institutional manager focused on cryptocurrencies and digital assets, wants to bet $1 million that such assets will outperform the S&P 500 during the next 10 years. The asset manager is challenging any professional investor or firm that believes cryptocurrencies are “worthless” or that public equities are a better bet to prove their belief with a long-term bet against the Digital Asset Index Fund, a crypto index fund managed by Bitwise Asset Management. The bet will be structured like the famous Warren Buffett bet, which began in…

Thai Crypto Exchange Satang Plans to Raise $10 Million in Security Token Offering

Thai cryptocurrency exchange Satang Corp. plans to raise nearly $10 million in a security token offering (STO), despite the recent market meltdown, Asia-focused business publication Nikkei Asian Review reported Dec. 4. Satang’s plans are reportedly supported by the Government of Thailand in a bid to make the country a blockchain center and develop a regulatory framework for digital currencies and blockchain. According to the exchange’s CEO Poramin Insom, the STO will be conducted in the first quarter of 2019. Satang reportedly plans to use the $9.9 million it raises to…

Overstock’s Medici Invests $2.5 Million in Grain Tech Firm’s Blockchain Pivot

Overstock subsidiary Medici Ventures is investing in a software firm looking to store grain transactions on a blockchain. The company announced Tuesday it was purchasing $2.5 million of equity stake in GrainChain, a nearly six-year-old company which develops software tools to aid farmers and purchasers in the grain industry. Medici’s purchase gives it a 10 percent ownership stake in the company, with the option to purchase another 10 percent at a future date. While GrainChain originally developed internet of things-focused software, CEO Luis Macias told CoinDesk that the company began…

Numerai to Cut Token Supply by 10 Million to Become ‘Decentralized as F*ck’

Numerai never did a token sale, but people have its token and they are using it. The numeraire (NMR) was launched in June 2017 as an early departure from the initial coin offering (ICO) template. Now, with the final upgrade of the company’s smart contract on ethereum, the maximum supply of tokens will drop from 21 million to 11 million, and the company will throw away the keys to the contract controlling its supply. “We are going to be decentralized as fuck,” Numerai founder Richard Craib told CoinDesk in an interview.…