Category Archives: Crypto Daily

Investment Firm Arcane Crypto to Go Public via $33 Million Reverse Merger

Arcane Crypto, a Norway-based investment company, said Thursday that it is planning to go public through a reverse takeover by Vertical Ventures, a publicly traded Swedish firm. Vertical Ventures will buy Arcane Crypto for $33 million by issuing over 6.6 billion new shares. Each share cost $0.005 or half a cent, according to a statement released by the company on July 2. Once the merger is completed, Arcane, which operates Arcane Research, will be listed on Nasdaq First North Growth Market, where Vertical Ventures currently trades. Owners […]

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Trouble in Defi Paradise: Compound-Issued DAI Surpasses DAI in Circulation

A number of cryptocurrency proponents have been discussing the stablecoin DAI this week, as the DAI allegedly held on the Compound platform is much larger than what is recorded in circulation. At press time, Compound statistics show there’s $523 million worth of DAI held in reserves, while the web portal daistats.com shows there’s only 160 million DAI in circulation. There seems to be another mystery in the world of decentralized finance (defi) again as the crypto community is now discussing the stablecoin DAI and the algorithmic money […]

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UK Court Denies Maduro Access to $1 Billion of Venezuela’s Gold

The UK is denying Nicolas Maduro access to Venezuela’s gold worth about $1 billion, stored at the Bank of England. The UK High Court has ruled that the country does not recognize Maduro as president of Venezuela, blocking him from accessing the much-needed gold. England Denies Maduro Access to Venezuela’s Gold Nicolas Maduro’s attempt to access his country’s gold stored at the Bank of England has been dealt a blow as the U.K. High Court ruled against him on Thursday, blocking his government’s access to $1 billion […]

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Crypto Use-Cases in Africa on the Rise, According to Luno

Twitter and Square CEO, Jack Dorsey recently said “Africa will define the future (especially the Bitcoin one!)” But was he right? Crypto in Africa on the Rise Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid 2020. Grateful I was able to experience a small part. 🌍 pic.twitter.com/9VqgbhCXWd — jack (@jack) November 27, 2019 Earlier this year, Luno published The State of Crypto in Africa report in […]

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Russian Court: Bitcoin Theft Not a Crime

A Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status for bitcoin. The accused were found guilty, sentenced to prison, and ordered to return only the fiat money stolen — not cryptocurrencies. St. Petersburg’s Petrogradsky District Court has announced the verdict in a theft case involving bitcoin filed in December, the joint press service of the judicial system of St. Petersburg announced on Tuesday. The two accused, Peter Piron and Yevgeny Prigozhin, disguised […]

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Mining Company Ebang’s Stock Listed on Nasdaq Down 11%, Firm Plans to Launch Offshore Exchange

The bitcoin ASIC mining rig manufacturer, Ebang International Holdings, was recently listed on Nasdaq last Friday on June 26. Ebang is now the second mining rig manufacturer to have a U.S. initial public offering (IPO) by selling company shares. Since the initial sale on opening day, Ebang’s Nasdaq-listed “EBON” is down 11.5%. So far, the Nasdaq shares dubbed “EBON” haven’t changed too much in price and since the IPO launch. This week Ebang also revealed it is launching an offshore crypto exchange later this year. The firm […]

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Demand for Bitcoin Will See a Dramatic Shift in 8 Years – Retail Addresses to Eat up Entire New Supply

A recent report from ZUBR Research explains that by 2028, retail demand for bitcoin will exceed the new supply. The report highlights that in eight years as Bitcoin’s supply rate decreases “retail size addresses [will] begin to eat up all the new supply alone.” Even the next halving in 2024 could see retail accounting for acquiring 50% of the bitcoins in circulation. Not too long ago, cryptocurrency proponents witnessed the Bitcoin (BTC) network’s third halving, which cut the block reward by 50% on May 11, 2020. Just […]

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‘Running Drivenet:’ Bitcoin Proponent Discusses the Benefits of Drivechain Versus Lightning Network

During the last few days, a number of cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain project, also referred to as “Drivenet.” The Drivechain project has been a work in progress for years now, and just recently Sztorc published a new version of the Drivenet software. On June 29, the Bitcoin proponent John Light tweeted “Running Drivenet” on Twitter, letting the public know about the application’s “important benefits.” During the last five years scaling concepts, offchain networks like Lightning, and sidechains have been both hot and controversial […]

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Zap’s Strike Moves to Public Beta

Today, Zap, the Lightning wallet lead by developer Jack Mallers, has announced that their Strike product is now in public beta.   Previously, Strike had only been available through a closed, private beta program. In the private beta, Mallers claims that they have “already seen $100,000 in paymentsâ€�. Strike is an application that allows you to transact with Lightning payments with just a debit card or bank account. But, here’s the secret sauce:  instead of having to buy bitcoin to load up your Lightning channels, users on Strike never touch […]

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Localbitcoins 2019 Revenue Rises 10% to $29.6 Million Amid Increased Paxful Competition

Peer-to-peer (P2P) crypto exchange Localbitcoins has reported that 2019 revenue rose 10% to $29.6 million from $27 million a year ago. For the year, operating income fell 6% to $19.9 million from $21.2 million the year before. Localbitcoins did not provide detail about net profit. The Finnish marketplace said about $2.8 billion in volume was traded from 15.6 million transactions. Localbitcoins added 1.46 million new users last year, it stated. But stricter know-your-customer (KYC) requirements implemented in the last half of the year drove away some customers, […]

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