Chinese Publicly Listed Construction Company Turned Mining Firm Lost Over $23 Million

Chinese publicly listed construction company turned to cryptocurrency mining firm, Huatie HengAn, has reportedly been sold after its value decreased by over 90%. The development was reported by English-language local crypto-focused media 8btc on April 19. The firm has been reportedly sold for around 12 million yuan ($1.8 million), after its value decreased from 170 million Chinese yuan ($25.3 million) in under a year. Per the report, Huatie HengAn started as a subsidiary of the publicly listed parent company Huatie and claims to be mainly engaged in providing cloud computing…

Iota, IoT Firm Evrythng Partner to Increase Transparency for Consumer Goods Supply Chain

Iota and internet of things (IoT) firm Evrythng announced a partnership to combine and apply their distributed ledger and IoT technologies to provide greater transparency for consumer goods supply chains. The news was revealed in a press release on April 17. According to the press release, Evrythng’s focus is to implement IoT and DLT technology to create unique, interactive and trackable identities for consumer products, with the aim of fostering greater transparency for both supply chain stakeholders and consumers. The partnership will reportedly see Evrythng’s Blockchain Integration Hub expand to…

Coinbase’s 2018 Revenue Is 60% Less Than Projected by the Firm: Report

Major global crypto exchange Coinbase reportedly saw around $520 million in revenue last year, Reuters reported on April 18. The publication calculated the sum by looking at a filing to Britain’s corporate registry last week showing Coinbase’s non-U.S. revenue equaled around 154 million euros ($173 million), noting that a Coinbase executive once stated that the non-U.S. revenue is equal to almost one third of the overall revenue Based on Reuters’ calculations of Coinbase’s 2018 revenue, the crypto exchange has generated 60% less than its stated plans. In late October 2018,…

Binance Chain Launches, Firm Expects to Execute Mainnet Swap on April 23

Binance has launched its mainnet Binance Chain and expects to execute the swap of its native token Binance Coin (BNB) on April 23, according to an announcement on April 18. The major crypto exchange first revealed its plans to launch its own blockchain in December 2018, intending to build a basis for issuing new cryptocurrencies and initial coin offering tokens. According to the announcement, Binance is producing blocks with consensus from the genesis block as of today, with its native coin BNB planned to be issued in the genesis block.…

Fintech Firm Hopes to Overhaul Microwork Industry With Platform Built on Blockchain

An established mobile fintech platform with more than 5 million users across 200 countries is launching a decentralized ecommerce ecosystem designed to help anyone with a smartphone make a living, thereby democratizing wealth distribution. Vodi X is the partner company of Vodi, a company that offers its customers the ability to instantly top up prepaid mobile plans worldwide, to buy or send digital gift cards from over hundreds of brands, as well as to make international calls, texts and conduct video conferences. The team says they are seeking to overhaul…

Major Auditing Firm Ernst & Young Releases Updates to Two Blockchain-Related Products

Big Four auditing firm Ernst & Young (EY) has released two new blockchain developments, a new version of its Blockchain Analyzer and a zero knowledge proof protocol. The company revealed the products in two separate press releases on April 16. EY has launched the second generation of its analytics tool EY Blockchain Analyzer. While the first generation of the product was available to only EY audit teams facilitating gathering companies’ entire transaction data from multiple blockchain ledgers, the upgrade made the analyzer accessible for EY teams and non-audit customers as…

OKCoin Exchange Invests in Crypto Custody Firm Prime Trust

Cryptocurrency exchange OKCoin has invested an undisclosed amount in crypto custody provider Prime Trust. In a note sent to customers on Wednesday, Prime Trust CEO and chief trust officer Scott Purcell said that the firm has closed a “nice” funding round that was led by the California-based exchange. Other participants in the round included Gateway Blockchain Partners, Novablock Ventures and Xsquared Ventures, Purcell said, adding: “We aren’t disclosing details though.” Notably, Prime Trust serves as OKCoin’s fiat gateway. The exchange announced last week that it has added a new payment…

Ripple’s Xpring and Firm Behind Zcash Among Investors in Privacy-Focused Crypto Startup

Ripple’s fundraising arm Xpring announced in a blog post on April 17 that it has joined several companies to invest in Bolt Labs, a startup aiming to deliver “instant, cheap and private payments” by adding a layer of anonymity to existing networks. Zooko Wilcox, CEO of the Electric Coin Company — the firm behind Zcash — confirmed to Forbes that his company also contributed to Bolt Labs’ seed round. Wilcox has also been appointed as an advisor to the startup. In a blog post setting out its vision, Bolt Labs…

Largest Travel Management Firm in UK Accepts Bitcoin

Corporate Traveller, the largest travel management firm in the United Kingdom, is now accepting Bitcoin (BTC) for payments, according to a press release on April 15. A newly announced partnership with crypto payments company BitPay will allow Corporate Traveller — which provides business travel management services to SME companies — to accept bitcoins. Andy Hegley, U.K. General Manager at Corporate Traveller said: “We identified an increasing demand from our clients for the option to pay in bitcoin for business travel bookings made by our travel consultants. We chose BitPay to…

Major Japanese Fintech Firm Halts Plans to Launch Crypto Exchange, Citing Bear Market

Money Forward Inc., the operator of one of Japan’s most popular personal budgeting apps, has resolved to halt its plans to launch a crypto asset exchange. The development was reported by Cointelegraph Japan today, April 15. As previously reported, Money Forward had established a dedicated subsidiary in May 2018 for its crypto exchange project. It had intended to launch a crypto media platform, followed by a crypto exchange and the construction of a digital assets remittance and settlement system. Today’s announcement reveals that the company’s board of directors has opted…