Gox Rising Offers USD 800 Per Bitcoin, Canaan Disappoints, Coldplay Player Goes Crypto + More News

Brock Pierce of Gox Rising. Source: a video screenshot, YouTube, IPSE

Crypto Briefs is your daily bite-sized summary of cryptocurrency and blockchain-related news – examining the stories that fly under the radar of current crypto news.

Exchanges news

  • Company based in Puerto Rico Gox Rising, led by crypto entrepreneur Brock Pierce, has offered to buy out creditors’ claims of the now defunct Mt. Gox Exchange. According to The press release requires each claim to be reviewed individually, but the company intends to offer USD 800 per bitcoin (BTC) claim paid in BTC or in the fiat currency of the creditor’s choice. Payment will be deposited in escrow and within 10 working days of confirming the claim transfer.
  • BITPoint, the Japanese crypto exchange operated by loyalty point giant REMIXPoint, said a $ 32 million hack on its platform in July last year “likely targeted its maintenance server.” In the company latest financial report, BITPoint stated that private keys were stolen as part of the attack, adding that it was intended to prevent the hack from recurring by stopping using potentially compromised servers and committing to 100% of the crypto assets of its customers in cold wallets.

Mining news

  • In 1Q20, compared to 1Q19, Nasdaq listed major producer of crypto mining hardware Canaan net income increased 44.6% to $ 9.6 million, net loss decreased 41% to $ 5.6 million, and operating loss increased 23% to $ 10 million. Company said it will not provide a business outlook for the second quarter of 2020 due to “the changing nature of the COVID-19 pandemic and the uncertainties surrounding Bitcoin’s halving event”. The companies share price decreased today by 4.5%.

Investment news

  • Coldplay (a popular British rock band) bassist Guy Berryman is one of the investors behind the Zumo mobile wallet and payment app, an Edinburgh fintech that aims to help ordinary investors buy cryptocurrencies, reports insider.co.uk. Zumo allows customers to keep, trade and exchange BTC and ethereum (ETH) on its platform.
  • The US-based private key security specialist Casa has announced praying mantis, a new venture capital fund co-founded by The Chainsmokers, an American electronic DJ and production duo, as the latest investor, and a member of the group of existing investors at Casa, including StillMark, Castle Island Ventures, Teacher Hippeau, and Precursor Ventures. Per the announcement, the Mantis team sees Casa as the company best positioned to bridge the gap between everyday consumers and the technical concept of Bitcoin self-preservation.

Stablecoins news

  • Neil Shen, the head of Sequoia Capital China, has proposed that Hong Kong launch a stablecoin that will allow Hong Kong companies to trade more effectively with mainland China, Japan and South Korea – in an effort to boost trade after the coronavirus pandemic. Per media outlet Chainnews, the head of Sequoia, who is also a member of the influential Political advisory conference of Chinese people says the stablecoin should be tied to a basket of East Asian currencies – namely the Hong Kong dollar, the Chinese renminbi, the Japanese yen and the South Korean won.

Blockchain news

  • One of Seoul’s largest fish, fruit and grocery markets says it will be using blockchain technology as part of a massive makeover. Nongchuk Yootong Shinmun reports that the Seoul Metropolitan Agricultural and Fishery Food Corporation, that Seoul is busy Garark Market, has enlisted the help of a number of blockchain and other IT experts. The team of experts helps the company build what it calls a “smart market” with sustainable products and business practices.
  • South Korea Suseong University says it has signed a deal that will create a new blockchain department. The university, one of the largest in Daegu (2.5 million inhabitants), says: per Money Today – that it cooperates with the Korea Artificial Intelligence Association (KORAIA). The parties say the new department will also teach AI and cloud-based technology and accept students from 2021. The university also adds that a number of Daegu-based blockchain companies have agreed to provide training and work experience programs.

News Regulations

  • The Albanian Parliament has successful a new comprehensive law enacted by Albanian Finance and Economy Minister Anila Denaj, which aims to regulate crypto activities and monitor all infrastructure where distributed ledger technology (DLT) operates. Denaj said the design aims to reap the benefits of technology, address potential risks, regulate licensing conditions, conduct and monitor the activities of operators and stock exchanges, and prevent market abuse , where high fines have been imposed on anyone who violates the provisions of the law, reports ata.

Altcoins news

  • The Kin Foundation has published a transparency report, according to for which there are 1.45 trillion KIN tokens in circulation, out of a total of 10 trillion notes created, and the tokens are acquired at a rate of 20% per year. The Board of Directors is appointed annually and the budget is planned a year in advance, with resources for app developers, node incentives, user subsidies, and marketing and operations. More than 28 million users have acquired KIN in the past three years, while nearly 300 million KIN had been released a day earlier in 2020. Kik is currently in a legal battle with the United States Securities and Exchange Commission (SEC).

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