Roundup of crypto news from around the world - First Edition
This week the cryptocurrency world saw it all, from Binance donating its listing fees to charity to the Indian government speculating the possibility of a government backed cryptocurrency.
We have wrapped all important updates in a nutshell for you in this week's crypto digest.
Harvard and MIT invest in cryptocurrency funds
In this week’s top news, Harvard and MIT have both invested part of their multi-billion dollar endowments in cryptocurrency funds. Outside the sphere of investing, top European Universities, Lucerne University (Switzerland) and the University of Cambridge (UK) seem to be increasing resources devoted to cryptocurrency. Cambridge, as UK’s foremost authority in research, Cambridge conducted extensive studies in crypto-finance and Lucerne has even accepted Bitcoin payments for tuition fees!
0x makes headlines as the first ERC20 token to be listed on Coinbase Pro
Starting October 11, 2018, users will be able to transfer ZRX tokens into their Coinbase accounts. Coinbase first announced considering listing of ERC20 tokens on its platform in March 2018. ZRX is currently (at the time of writing this post) at $0.757.
No IMF, Cryptocurrencies Pose No Risk to Global Financial Stability, says Financial Watchdog
On the 9th of October, the International Monetary Fund (IMF) issued a warning stating that the rapid growth of Bitcoin and other cryptocurrencies could create new problems for the highly interconnected international financial system. To the delight of crypto-enthusiasts everywhere, the very next day the Financial Stability Board, a greater authority in international financial stability, published a report dismissing the IMF’s claims, stating that cryptocurrencies do not pose a threat to financial stability, but just need appropriate monitoring and regulations.
13 crypto-preneurs make it to China’s Richest Individuals List
The Hurun Report, released annually, lists the wealthiest Chinese individuals, and this year, 13 cryptocurrency related businessmen made the list. Bitmain’s founder, Micree Zhan Ketuan leads the line of crypto businessmen at $4.26 billion. This, however, seems like the most obvious inclusion on this list, with Bitmain being the largest bitcoin mining company in the world, already valued at over $10 billion. Bitmain’s 2 main competitors, Canaan Creative and Ebang International Holdings, along with Bitmain itself, employ 9 of the 13 entries in the list.
The future of fast payments: Liquid Network is here
Blockstream, a blockchain tech company, has just launched what could be the answer to the conventional blockchain’s problem of prolonged settlement wait times- The Liquid Network. Liquid operates as a bitcoin sidechain, or a second layer, over the original bitcoin blockchain. Transactions that occur on the sidechain don’t need to be included in the main blockchain’s ledger, the sidechain processes payments exponentially faster than the Bitcoin blockchain network. The Native token, Liquid Bitcoin (L-BTC) can be swapped with Bitcoin.
Stay tuned for more such updates from the crypto world, brought to you by CoinDCX.
Compiled by Harshvardhan Sharma