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The CEO of Vietnamese cryptocurrency mining firm Sky Mining has reportedly disappeared with investor and company funds worth an alleged $35 million, local media outlet VNExpress reported July 29.
According to VNExpress, Sky Mining CEO Le Minh Tam disappeared a week ago, appearing to organize a cleanout of company assets.
VNExpress notes that Sky Mining CEO Tam — although he has not been found in person —
apologized for “everything” to investors in a Facebook post on Wednesday,
Kim Kardashian West, the reality television starlet with 114 million followers on Instagram, staked what appeared to be physical Bitcoin (BTC) chips on a charity poker night out in LA yesterday, July 29.
Kardashian West, sisters Khloé Kardashian and Kendall Jenner, and mom Kris Jenner hosted a table at yesterday’s inaugural “If Only”
The Indian state of Telangana looks primed as a blockchain technology forerunner in the subcontinent. On July 26, 2018, state officials signed MoUs with various blockchain startups and consultants to augment the use of the burgeoning technology in administrative services.
Bringing Transparency to State Administration
As reported by Business Standard,
Everex, a Singapore-based financial technology firm, has partnered with Myanmar’s Shwe Bank to introduce blockchain-Powered remittance Services between Myanmar and Thailand.
The blockchain firm claims that the partnership will enable millions of Myanmar migrant workers living in Thailand to send money home instantly and securely at much lower transaction costs than traditional remittance methods.
Global markets will be “ready to accept” a Bitcoin (BTC) exchange-traded fund (ETF) in as soon as a “couple of months,” Fatfish Internet Group CEO Kin-Wai Lau told CNBC on July 29.
Speaking to CNBC’s dedicated cryptocurrency segment, the Coin Rush, Lau expressed a firm belief in Bitcoin’s current price rally, explaining,
The government of South Korea is hurrying the finalization of the country’s first crypto and blockchain legislation, to recognize the cryptocurrency and blockchain sector as legitimate industries.
What it Means For Crypto
As CCN reported, local financial authorities initially disclosed their intent to regulate the cryptocurrency market with stricter but more comprehensive regulatory frameworks to protect investors and facilitate the growth of startups in the blockchain industry.
During a recent interview with CNBC Crypto Trader’s Ran Neu-Ner, Michael Arrington of Arrington XRP Capital revealed that his fund owns more BTC than XRP, and discussed the company’s decision to denominate in XRP.
Also Read: Huobi Informs Users on Decision to Launch P2P Trading in India
Arrington XRP Capital’s Exposure to XRP is “3 – 4%”
In an interview with CNBC Crypto Trader during their coverage of Korea Blockchain Week,
In recent mining news, it has been alleged that the CEO of Vietnam-based Sky Mining has fled the country with $35 million USD in investor funds in his possession. Meanwhile, in the US, Tmgcore has acquired a 100-megawatt data center in Dallas, Texas, and local media have reported that Bitmain will open a mining facility in a former aluminium smelter in Rockdale,
Thailand’s largest movie theater chain, Major Cineplex, is reportedly integrating crypto payments to allow customers to pay for its services and products with cryptocurrency, including movie tickets and popcorn. Thailand recently began regulating crypto businesses. This week, the Thai Securities and Exchange Commission started accepting license applications from crypto operators.
Cryptocurrency exchange Cryptomkt has partnered with Chilean payment platform Flow to allow customers to pay with three cryptocurrencies at over 5,000 stores. The announcement follows two Chilean courts ruling that banks must reopen the accounts of crypto exchanges they previously closed.
Also read: Yahoo!
Qiwi, a large Russian payments company, has played a pioneering role in blockchain development in that country, largely driven by its CEO and major shareholder, Sergey Solonin. The reason for Solonin’s interest in cryptocurrency recently came to light during a lecture he gave at the Moscow School of Communications,
In the early July, it was reported that Bleeping Computer detected suspicious activity targeted at defrauding 2.3 million Bitcoin wallets, which they found to be under threat of being hacked. The attackers used malware — known as “clipboard hijackers” — which operates in the clipboard and can potentially replace the copied wallet address with one of the attackers.
Following several announcements of plans for global expansion, this week crypto exchange Huobi has reportedly informed Indian users of its intentions to present them with a P2P platform that allows trading in Indian rupee. The email notice published by local media promises zero transaction fees for exchanging BTC,
ETF’s are back in the news this week with the Winklevoss twins of Gemini getting rejected again, while investment firm Direxion was delayed till September on a final decision. Crypto continues to make inroads into the financially impoverished nation of Venezuela, with Dash now becoming more popular than Bitcoin for black market purchases of basic necessities.
Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link.
Top Stories This Week
US SEC Rejects Winklevoss Twins ETF,
The association announced it’s pushing for a fintech platform using blockchain technology. The new registrar system will cut issuance times in more than half.
The Thai Bond Market Association (TBMA) plans to implement a new registrar service platform combining financial technology with blockchain technology. There are ongoing plans to put it to practice during the current year to improve the growth of the secondary market.
If any coin is going to fly under the radar, it makes sense for a privacy coin to do so.
Spectre (not be confused with a separate project called SPECTRE), created two crypto tokens – the aptly named spectre token and the xspec token – in 2016, but hasn’t received much notice from the crypto community so far.
A still-evolving vaccine scandal in China prompted a range of social media discussions in the past week around how blockchain could have prevented such a situation – or how it might be used to stop it in the future.
To recap, ChangChun Changsheng Bio-technology, a pharmaceutical firm based in Jilin, is accused of having sold about 252,600 units of questionable DPT vaccine,
Discussion about cryptocurrency-related regulation continued into this past week, as Bitcoin took the lead, driving the market up by just under 10% overall.
Winklevoss Twins’ Revised ETF Gets Shot Down By The SEC
On Thursday, the announcement of the most recent verdict regarding the Winklevoss Twins’ Bitcoin ETF hit headlines all across the industry.
A South Korean firm claimed to have found the wreck of a Russian warship sunk in 1905 with $130 billion worth of gold on board. The cruiser and its treasure are linked to a crypto exchange and token which the firm reportedly promised to distribute to anyone signing up with the exchange.
Japan’s largest crypto exchange, Bitflyer, may freeze accounts caught manipulating prices. Meanwhile, GMO Internet has released quarterly earnings for its crypto exchange subsidiary, currently looking to borrow some BTC from customers. In addition, Coincheck plans to reopen next month after it was hacked earlier this year.
Make sure you check out our previous edition here, now let’s go over what happened in crypto this week. Also, make sure you subscribe for this week’s edition of The CCN Podcast on iTunes or wherever you get your podcasts.
- Bitcoin increased nearly 9% this week after a non-trivial gain of 18% last week.
The Japan Virtual Currency Exchange Association (JVCEA) will obligate its member exchanges to place limits on the trading activity of some clients, Cointelegraph Japan reports today, July 28.
The self-regulatory body has reportedly established a policy of to require its member crypto exchanges to place maximum limits on the volumes traded by the exchanges’ customers.