The operator of Germany’s only regulated cryptocurrency exchange has confirmed it will de facto become a bank after securing a 100 percent takeover of Tremmel Wertpapierhandelsbank. Bitcoin.de Buys Tremmel Wertpapierhandelsbank Bitcoin Group SE, which operates Bitcoin.de, will be able to offer a raft of services connected with cryptocurrency thanks to a banking license once the deal goes through. Frankfurt-based Tremmel has operated as a minor financial institution since the early 1980s, with previous owner Rainer Bergmann staying on to contribute to future growth and oversee the creation of a “deposit…
Read MoreDay: November 15, 2018
French Financial Markets Regulator Estimates ICOs Have Raised $21.9B Globally Since 2014
France’s financial markets regulator, the Autorité des marchés financiers (AMF), has published a report examining trends relating to initial coin offerings. The AMF describes ICOs as a “marginal” method of financing, estimating that the global ICO industry has raised €19.4 billion ($21.9 billion) since 2014. Also Read: Russian Developers to Help Iran Build Its Crypto-Economy Significant Centralization of Capital The AMF report notes an “acceleration” in ICOs over the last two years. It estimates that €5.6 billion ($6.3 million) was raised via ICOs in 2017, equating to 1.6 percent of global equity financing for…
Read MoreMiner Abandons Swedish County, Leaves $1.5M in Unpaid Electricity Bills
Two mining companies with operations in Sweden have reportedly abandoned their facilities in the country’s northernmost county of Norrbotten. One of the companies, U.S. miner NGDC, appears to have suddenly fled from the area, leaving $1.55 million in unpaid electricity bills in its wake. Also Read: Seba Crypto Eyes Swiss Bank License, Independent Reserve Integrates Tax Tool US-Based NGDC Bails on $1.55M Power Bill According to Sveriges Radio, Miami-based NGDC ceased operations in the municipality of Älvsbyn after having its power cut by Swedish electricity supplier Vattenfall. NGDC owes 14 million…
Read MoreBitcoin Miner ‘Canaan Creative’ IPO Will Not Happen in 2018
Bitcoin mining equipment maker, Canaan Creative, on Thursday (November 15, 2018) allowed its Initial Public Offering (IPO) filing to elapse. Reports suggest that the company will shelve its IPO plans at least for the remainder of the year. Canaan Allows $400 Million IPO Application to Lapse According to Reuters, Canaan Creative allowed its $400 million IPO listing to expire. This expiration comes six months after the company submitted its filing to the Hong Kong Stock Exchange (HKEX). Inside sources revealed that regulators from the HKEX had multiple issues with the…
Read MoreCoinbase Ventures Backs Home Crypto Mining Startup Coinmine
Coinmine is a new startup that aims to make in-home mining accessible for non-technical users, based in Los Angeles and founded by Farb Nivi and Justin Lambert. The company has reportedly raised about $2 million from VC funds and angel investors such as Coinbase Ventures and Tinder Chief Product Officer Brian Norgard. Also Read: Kucoin Exchange Raises $20 Million in Series A Funding Round $799 Plug and Play Miner Coinmine’s debut device went on sale on Wednesday, featuring a 4 GB AMD RX 570 GPU, Intel Celeron CPU and 8…
Read MoreHash Wars: The Bitcoin Cash Hard Fork Has Begun
Today Thursday, Nov. 15, a great majority of the cryptocurrency community is fixated on the contentious Bitcoin Cash (BCH) hard fork and watching the spectacle with great anticipation. At approximately 1:00 p.m. EST miners backing both implementations started the fork process in order to change the Bitcoin Cash protocol ruleset. Currently, at the time of publication, the chain has split and the Bitcoin ABC side of the chain is three blocks ahead of the forked SV chain. Also read: The Daily: Coinbase Blesses Binance, Game Day for BCH The day is…
Read MoreCanaan’s Hong Kong Listing Plans in Limbo
Plans by bitcoin mining equipment manufacturer Canaan to list shares on the Hong Kong stock exchange are now uncertain, as the Chinese company’s application for an initial public offering (IPO) expired on Nov. 14 — exactly six months after it submitted the documents to the Asian bourse. Also Read: Bitcoin ATMs Most Common Scam Payment Method in Australia IPO Will ‘Not Happen’ in 2018 Canaan’s $400 million IPO may “not happen this year as there was no update from the stock exchange for a listing hearing,” according to a report by…
Read MoreRipple (XRP) Overtakes Ethereum as Second Biggest Crypto By Market Cap
Ripple (XRP) has once again overtaken Ethereum by market cap amid ongoing cryptocurrency market turbulence and bearish sentiment. Only $100k Separates Ripple and Ethereum As data from Coinmarketcap confirms, Ripple’s XRP token is now the largest altcoin, losing less than Ethereum in the past 24 hours. As a result, ETH is now in the third-largest cryptocurrency, repeating what has become a pattern in 2018. As Bitcoinist previously reported, XRP last overtook ETH fairly recently on the back of rumored expansion of the token’s usage. While not directly affecting Ethereum, the Bitcoin…
Read MoreCanadian Court to Take Custody of Quadrigacx Funds, NYDIG Gets Bitlicense
In recent regulatory news, a Canadian court plans to take custody of $19.5 million of funds that Quadrigacx deposited with the Canadian Imperial Bank of Commerce before they were frozen due to competing ownership claims. Also, New York state regulators have granted the 14th Bitlicense to New York Digital Investment Group, and it has been alleged that the authorities in China have threatened to cut off electricity to miners in Yunnan Province for failing to pass compliance checks. Also Read: Isle of Man Updates Registration Rules for Cryptocurrency Businesses Provincial Court…
Read MoreSeba Crypto Expects Swiss Banking License, Independent Reserve Integrates Tax Tool
In recent exchange news, Seba Crypto AG has predicted that it will receive a Swiss banking license within the first half of 2019. We also look at the Independent Reserve, which has integrated a tax estimator tool into its user interface, as well as Point95 Global, which has announced plans to launch a “crypto quantitative fund” based in the Cayman Islands. Also Read: Bitfinex Introduces Fees, Bitmex Rejects Claims It Trades Against Customers ‘Crypto Bank’ Aims to Secure License in 2019 Guido Bühler, the chief executive officer of Seba Crypto, has predicted…
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