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Police summon Bithumb chairman for questioning over alleged fraud

The drama over alleged fraud involving Bithumb’s senior executives continues as the company’s chairman has reportedly been summoned for interrogation.The Seoul Metropolitan Police Agency is purportedly seeking to question Lee Jung-hoon, chairman of board at Bithumb Korea and Bithumb Holdings, according to a Sept. 18 report by South Korea’s state-run news agency Yonhap.As reported, Lee is allegedly accused of multiple fraud and embezzlement offenses regarding the failed listing of the BXA token. The...

Elastic Finance makes its case in the DeFi discussion

The DeFi frenzy has been making the headlines in the last few months, as crypto exchanges rush to list popular tokens within the decentralized finance sphere. However, another concept called “Elastic Finance” has emerged, which could be the next generation of financial platforms that can use unique supply elastic assets, said an expert.During an interview with Cointelegraph, digital asset protocol firm Ampleforth Foundation CEO Evan Kuo said that Elastic Finance began with its...

Tokenized whiskey fund buys first 1,000 barrels of Kentucky bourbon

A fund launched in March with the aim of tokenizing up to $20 million worth of whiskey has announced its first successful investment round and the purchase of its first tranche of Kentucky bourbon.Wave Financial Group announced Sept. 11 that its Kentucky Whiskey 2020 Digital Fund had bought an initial 1,000 barrels from the Wilderness Trails distillery.Investors are expected to benefit from the spirit’s price appreciation during the aging process of around five...

Title Token for Blockchain Estate Registry, Part 2

Title token is a record of ownership similar to the one made in a traditional estate registry. This concept is designed as an alternative to security tokens and various financial crypto instruments. The title token is not “backed” with real property; this is the record that directly certifies the property right — the same as paper title deeds, or certificate of ownership, etc. It is a digital form of property record and the...

Government-Backed Tokenized Gold With ‘Killer Features’

The Universal Protocol Alliance — a consortium of crypto firms comprising Bittrex Global, Ledger, CertiK, and Uphold —  has launched a token backed by the Western Australian government-owned Perth Mint.The tokens, dubbed ‘Universal Gold’ or UPXAU, can be purchased on Uphold and spent using the firm’s debit card. Investors can purchase UPXAU from $1 with no investment limits. Unlike mainstream gold products which often have 0.4% monthly custody fees, the token is free...

The Bank of Lithuania Released a Cryptocurrency, But It’s for Collectors

The Bank of Lithuania has released a digital, blockchain-based collector coin dedicated to the country’s Act of Independence of 1918 and its 20 signatories.Claiming a world first, the central bank says the digital coin represents “a bridge that brings together classical numismatics and rapidly evolving financial technologies.” Issued on July 23, the new LBCOIN is intended both as a national symbol and as a signal of the bank’s strategic choice to drive innovation in...

Latest DeFi Craze Involves a One-Man Project With a ‘Worthless’ Token

The trend of usage incentives in decentralized finance kicked off with Compound’s COMP token distribution, and it continued through several other platforms that sought to replicate its perceived success.But the latest DeFi yield farming mania involves yEarn, a yield aggregating platform developed by just one man, Andre Cronje. Despite his warnings that the platform’s token, YFI, is worthless and “won’t be on Uniswap,” it was in fact listed on Uniswap. A price run...

Record Revenue for Blockchain Gaming Company During Pandemic

Animoca Brands, the firm behind blockchain-powered games The Sandbox, F1 Delta Time, and Crazy Defense Heroes, has reported unaudited revenue for the first four months of 2020 of $7.34 million amid the COVID-19 pandemic.The first quarter was Animoca Brands’ strongest on record with $4.33 million in revenue, followed by a record month with $3 million during April. Animoca Brands held $6.08 million in fiat and crypto assets at the end of April. Roughly $770,000...

JPMorgan’s Blockchain Offshoot Kadena Gets First Ever Token Listing

Bittrex Global, one of the world’s most popular platforms for trading cryptocurrencies, is about to become the first crypto exchange to list a token by JPMorgan’s blockchain spin-off Kadena.Kadena token (KDA), is finally getting its first official listing on June 25. While token deposits on KDA wallets on Bittrex are available immediately, the trading is set to open on June 26 at 10:00 a.m. EST.At the initial launch, KDA will be trading against...

‘Risky’ Tokenized Real Estate Platform Hits New Heights After Paypal Ban

U.S. tokenized real estate platform RealT hit record highs in sales and new users after it turned to crypto-only transactions, following a ban by payments platform Paypal in April.The Ethereum-based startup tokenizes and sells U.S. property, allowing users around the world to share in property ownership for as little as $50.According to RealT’s twitter account, 62% of purchases on their platform were made via Paypal prior to the ban. Over the course of...
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