Asia

Huobi Seeks to Challenge Entrenched US Digital Asset Marketplaces with HBUS Rebranding but No Plans for Security Tokens Now

US Marketplace HBUS Rebrands to Huobi Matching Asian Platform HBUS, the US strategic partner of digital asset platform Huobi Group, has rebranded its retail trading marketplace to Huobi thus matching the Asian platform. The flagship operation Huobi Global will continue to operate under the same… Read More

X Financial Names AlBank New Custodian Bank

China-based X Financial (NYSE: FXE) announced on Thursday it has engaged Citic AIBank Corp. (AIBank) as its custodian bank. According to X Financial, the appointment is considered a significant step in the company’s strategy to strengthen trust and security in its platform. As previously reported, X Financial… Read More

More Details Emerge About Possible Executive Succession, IPO, and Layoffs at Bitmain, World’s Largest Cryptomining Firm

A new CEO is already in place at Bitmain, the world’s largest manufacturer of cryptocurrency mining equipment and operator of crypto mines, a source to Hong Kong news outlet The South China Morning Post (SCMP) claims. Though Bitmain itself has refused to confirm the change, a former… Read More

SlowMist Says ETC Attacker Can Now Be Identified, if Exchanges Help Out

Earlier this week, CI reported on a 51% attack / double spend attempt that was halted by Coinbase. The crypto exchange was not the only target in the attempted hack. The attack utilized Ethereum Classic (ETC) as the vehicle to steal funds. Security firm SlowMist… Read More

CoinNess Announces Platform Token “CNNS”

CoinNess, an Asian cryptocurrency and blockchain information provider, announced on Wednesday the unveiling of its platform token, CNNS. The company revealed: “The recent CNNS airdrop on Telegram was a tremendous success and attracted support from numerous exchanges and blockchain projects. Within two weeks, over 150,000… Read More

Japan Regulators Deny They’re Considering Approving Bitcoin ETF

Regulators from the Japanese Financial Services Agency today told Cointelegraph Japan that, contrary to information provided by an anonymous source to Bloomberg, the agency is not contemplating approving Bitcoin ETFs in Japan right now. According to an FSA source to Cointelegraph: “We are not considering… Read More

The Cambridge Centre for Alternative Finance, Asian Development Bank Institute, and FinTechSpace Launch ASEAN Fintech Industry Survey

The Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School,  Asian Development Bank Institute and FinTechSpace have formed a partnership to launch the ASEAN Fintech Industry Survey – the first study of its kind. According to CCAF, the research will focus… Read More

Denied an IPO in Hong Kong, Cryptominer Manufacturer Canaan Considering New York Listing

Canaan, the second biggest maker of cryptocurrency mining hardware after Bitmain, may be bringing its bid to go public to a New York exchange after being rejected in Hong Kong, Bloomberg reports. The company may be seeking to sell shares on a US exchange in… Read More

What to Expect in Fintech for 2019

Fintech Predictions for 2019. Financial innovation continues to evolve at a rapid pace. Startups launch and shutdown with regularity. Traditional financial firms experiment and partner with more agile firms. It’s all about the digitization of finance where services are ubiquitous and instantaneous – all available… Read More

Indian Police Arrest Second in $72 Million Crypto Fraud Scheme, Leader Still Sought

Police in India say they have arrested the second-in-command of an elaborate crypto fraud that bilked investors out of 5 billion rupees (~$71.6 million USD), The Indian Express reports. The man, Rohit Kumar, has now been charged with cheating, criminal conspiracy and violation of the… Read More

Investors Sue Crypto Promoter Who Threw Cash Off Hong Kong Highrise

A man arrested for flinging Hong Kong hundred dollar bills ($13 USD) off a local high-rise in December is now being sued by investors who say he duped them out of $3 million dollars, South China Morning News (SCMP) reports. Four investors staged a protest… Read More

Why Have Offshore Financial Centres Become the Home of ICOs?

Initial Coin Offerings (ICOs) are booming in offshore financial centres. In 2017, only a small minority of cryptocurrency transactions were taking place offshore but just a year later, according to a study by PriceWaterhouseCoopers and CryptoValley, the Cayman Islands, British Virgin Islands (BVI) and Singapore… Read More

Chinese Analysts Say Bear Market for Bitcoin Likely to Persist in 2019, Crypto “A Zero-Sum Game”

“Bitcoin became an investment black hole,” in 2018, says Beijing Times reporter Pan Yichun, and according to several Chinese analysts, the prospect of significant Bitcoin price gains in 2019 are small, though there may still be opportunities brought by “small bulls” in the market, Beijing… Read More

PINTEC Forms Partnership Beibei Group For Consumer Financing

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Sunday it has formed a partnership with Beibei Group, a family-focused consumer platform in China for maternal and child products, for new consumer financing. PINTEC reported it has developed the online installment payment solution for Beibei Group. The solution has… Read More

China Trade and Finance Interbank Trading Blockchain Platform Officially Launches

In a press release, the China Banking Association (CBA) announced the launch of the long-anticipated “China Trade and Finance Interbank Trading Blockchain Platform.” Officially, the project kicked off on December 29th. The centrally controlled project was was established to standardize the digitization of “transaction information of… Read More

70-80% of South Korean Cryptocurrency Mines Close As Costs Exceed Prices

At the top of markets in December 2017, mining an Ether, the native cryptocurrency of the Ethereum network, cost about 240,000 Korean won ($213 USD), and that Ether could be sold for 2.3 million won ($2093 USD). At that time, South Korea was the third… Read More

Huobi DM Says Trading Volume Topped $12 Billion in First Full Month

Huobi DM, Huobi Group’s new cryptocurrency contract trading service, is reporting cumulative trading volume topping $12 billion in its first full month of operation. According to Huobi, their contract trading service enables users to take long and short positions on Bitcoin (BTC), Ethereum (ETH), and EOS (EOS),… Read More

Equity Fund Manager V Shankar Advises Investing in Common Goods – Not Bitcoins

“We are for biscuits, not Bitcoins.” V Shankar, CEO of a large “South-South” equity investment fund called Gateway Partners, was shouting into the wind last year when he advised investors to stay away from the trendiest investments: cryptocurrencies, Argentina, and Tesla. But he has been… Read More

Indian Police Advise Locals Not to Invest in Cryptocurrencies

Police in the Kashmiri city of Jammu have warned citizens there to avoid investing in cryptocurrencies because of “heightened risks” in relevant markets, Business Standard reports. According to the Inspector General (IG) of Jammu crime branch: “The general public is informed not to make any type of investment in… Read More

Singapore-Based International CryptoX Partners With Bittrex to Launch Cryptocurrency Exchange Platform

Singapore-based International CryptoX (INCX) recently announced the launch of its new compliance-focused cryptocurrency exchange. INCX revealed it is partnering with Bittrex to use its technology to offer customers a secure, reliable and advanced trading experience. INCX describes itself as an exchange platform that will primarily focus on customers in… Read More

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