Wednesday, January 20, 2021

Crypto News from the world: Week in review

The Takeaway:

Week in review: 21 Sep - 28 Sep 2019: This article focuses on the highlights of the cryptocurrency industry in the last week. Miss nothing and stay acquainted with the weekly Global crypto trends.

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Cryptocurrencies and their growth have not looked back since their inception and have bolstered the world economy. Today, the crypto world is a hybrid of good and evil. Let’s look at the latest developments in this revolutionary industry.

The UK authorities auctions off the stolen crypto

The British authorities auctioned off the Bitcoins seized from the scams. The police confiscated half a million ($621,400) worth of BTC from the crook providing his hacking services and illegally stealing and selling personal data of users. Along with the funds, the police also included the criminal’s possessions comprising of cars, diamond jewels, and Rolex watch for sale. 

Bakkt misses success, hit towards disappointment

The most awaited launch of BTC futures contracts platform, Bakkt, failed to shine in the crypto universe. The first day of its launch ended in disappointment with a trade of only 72 contracts. Furthermore, BTC price slumped, taking an opposite road from expectations. 

Is Venezuelan government hodling bitcoin?

Venezuelan central bank considers holding bitcoin and ethereum in its casket of international reserves. The country’s oil and natural gas company, Petroleos de Venezuela SA seeks to pay its suppliers in terms of cryptocurrency. 

Satowallet loots $1 million through exit scam

Satowallet, the Nigeria-based crypto wallet successfully pulled off an exit scam worth $1 million. The users reported issues in currency withdrawing in April. Since then, Satowallet cited multiple versions of reasons to account for the failure to withdraw. The website went offline in August, and as it re-appeared in business, all the funds of users had vanished. The CEO of the wallet had blamed the scammers on Telegram for the theft. 

Binance ready to invest in China

Crypto companies have their bags packed to re-settle in Asia. Binance CEO, Changpeng Zhao has announced the preparation of the firm for its first crucial investment in China since leaving the Asian powerhouse in 2017. Besides this, Binance also partook in a funding round hosted by Mars Finance, a Beijing-based crypto-blockchain data and news provider. The funding round was estimated to be worth around $200 million. 

Bitmain will connect crypto miners to farm owners

Bitmain, the Chinese crypto mining hardware giant is set to launch a platform connecting global crypto miners with farm owners. Entitled as World Digital Mining Map (WDMM), the platform will officially come into light during the World Digital Mining Summit registered to take place in Frankfurt between 8 Oct and 10 Oct. 

Read Crypto News from Asia: Week in review

Fantasy market sued for illegal ICO

The United States Securities and Exchange Commission (SEC) charged an online adult entertainment marketplace called Fantasy Market and its founder Jonathan C. Lucas for conducting an unlawful ICO. The firm conned $63,000 in cryptocurrency from above 100 investors by reciting false statements and enticing the investors. Lucas has agreed to pay $15,000 to settle the accusations, without any arguments. 

Uruguay adopts Aeternity Blockchain

Uruguay has adopted Aeternity, a Decentralized application (DApp) focused blockchain for tracing the supply chain of Uruguay can, a Montevideo-based medical and recreational cannabis producer. The first supply chain management implementation is scheduled to take place in October and be completed by January of next year. 

Read Crypto news from Europe: Week in review

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Thomas Gonzales
Thomas Gonzales
Thomas is a Stanford University graduate who loves to talk about the financial world. Though he has a demonstrated history of working in the real estate industry but ever since he came into the crypto space, he has developed a keen interest in researching and writing about bitcoin and blockchain.

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