The post Algo Capital to invest $ 100M in promising firms created on Algorand Platform appeared first on CoinReport.
On Thursday, Justin Sun, the founder of TRON, said that the network supports more than 50 decentralized applications (dApps) and is on track to reach 80 dApps in the short-term. #TRON now has more than 50+ Dapps. 80+ we are coming! #TRX $ TRX — Justin Sun (@justinsuntron) December 21, 2018 The statement of Sun follows
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The market valuation of ERC20 tokens and low volume crypto have started to fall below the $ 100 million mark amidst an intense market sell-off and increasing regulatory pressure from the U.S. Securities and Exchange Commission (SEC). VeChain, Bytecoin, Bitcoin Diamond, ICON, and Qtum have fallen the most against the U.S. dollar in the past 12
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Crypto-asset companies can now apply for licenses to handle as much as 100 million Swiss francs ($ 100 million) in public deposits under new regulations published on Dec. 3 by Switzerland’s Financial Market Supervisory Authority (Finma). The development underscores the European country’s efforts to promote technological innovation, as in the past only commercial banks were allowed to receive such large deposits.
Companies Cannot Reinvest or Pay Interest on Deposits
There is a catch, however. Blockchain and cryptocurrency-related businesses that are granted the fintech licenses to manage large amounts of investor funds “may not invest” or “pay interest” on the deposits, according to the new guidelines, which go into effect on Jan. 1, 2019.
Dragonfly Capital Partners, a new crypto-focused venture capital firm, has announced the launch of its first $ 100 million fund dedicated to investments in crypto assets. Its investors include Okex, Bitmain and other well-known names in the industry.
Meet Dragonfly Capital Partners
Dragonfly promises to invest in three types of assets: crypto-native funds, “pick-and-shovel” tech startups and decentralized protocols and applications. It launches with a portfolio of more than 20 investments, including cryptofunds and asset managers, the stablecoin Basis, Spacemesh and Oasis Labs.
Decentralised cryptocurrencies like bitcoin are anathema to traditional banking. Bitcoin allows people to trade directly with each other, bypassing banks, the conventional middlemen. Banks make money by charging fees for the services they provide, including keeping one’s money in a bank. It is no surprise, therefore, that they hate cryptocurrency. But banks aren’t guiltless, they have facilitated some of the most egregious financial crimes of our time.
‘Return Our Stolen Assets’
President Muhammad Buhari has demanded HSBC Bank returns up to $ 100 million it allegedly helped former dictator Sani Abacha launder from the Nigerian economy.
Soon, wealthy tourists looking to live large in the Caribbean will be able to reserve rooms at controversial billionaire Calvin Ayre’s resort in Antigua — if you’ve got the Bitcoin Cash.
A ‘Novel and Exciting Concept’
The billionaire founder of the Ayre Group and the Bodog entertainment brand, Calvin Ayre, is reportedly building a $ 100 million five-star resort on Antigua’s Valley Church beach — funded entirely by profits made from investments in digital currencies.
The prime minister of Antigua and Barbuda, Gaston Browne, is excited by the news, as the islands have long been supportive of cryptocurrency. Browne says of the project: