Bitcoin continued to trend lower Thursday, while some main altcoins recovered likely due to profit-taking and FUD. A South Korean mining giant reportedly is the suitor for the crypto exchange Bitstamp. One of the top three credit rating agencies has said that blockchain is a “game-changing technology” for the insurance industry. And a leading brokerage placed its ad in the blockchain, which is to remain there forever.
Here is a wrap of the main news from the cryptocurrency and blockchain world over the past 24 hours.
South Korean Gaming Firm Nexon May Buy Crypto Exchange Bitstamp
Major cryptocurrency exchange Bitstamp is in talks to be acquired by South Korean gaming giant Nexon, Business Insider reported, citing sources familiar with the matter. The sale price in negotiation of the oldest surviving bitcoin exchange is $350 million, reports said. Bitstamp reportedly had been involved in at least one other sale process before the Nexon deal.
Blockchain Is ‘Game-changing Technology’ For Insurance: Fitch Ratings
Prominent credit rating agency Fitch Ratings thinks blockchain is a “game-changing technology” for the insurance industry over the long term. In a report published Wednesday, titled “Blockchain and Insurance —The Trust Machine,” Fitch Ratings assessed the potential benefits and risks of blockchain’s application to the insurance industry.
TD Ameritrade Places Ad In Blockchain
Online broker TD Ameritrade is perhaps the first brand to place an advertisement in blockchain. It has imprinted its flag and name using ASCII art on the Bitcoin permanent ledger with the title saying “Greetings from the Blockchain.” TD Ameritrade said, “The blockchain is an amazing piece of technology. And we’re proud to be part of it. Forever. Through a series of transactions we became the first brand to place an ad in the blockchain.”
IAMGOLD Invests In VaultChain Developer Tradewind Blockchain
Canadian gold miner IAMGOLD Corp. announced a strategic investment in Tradewind Markets, Inc., a financial technology company that uses blockchain to speed up and streamline digital gold trading. The miner did not elaborate on the investment amount, while Tradewind in its statement said it has closed a $10.6 million strategic placement.
Millennium BlockChain Invests $5 Mln In Healthcare Blockchain Data Firm BurstIQ
Millennium BlockChain Inc. (MBLC), a holding company focused on blockchain technologies and crypto-assets, announced the closing of its $5 million investment in healthcare blockchain data company BurstIQ Analytics Corp. Under the deal, Millennium Blockchain will receive a significant number of BurstIQ tokens (BIQ) as well as traditional equity. BurstIQ has received five million shares in Millennium BlockChain.
Banking, Tech Giants Added To Global Blockchain Think-Tank
The Blockchain Research Institute (BRI) has expanded its Board by adding 12 new members, including global leaders in Banking and Technology. Funded by leading companies and governments, the Blockchain Research Institute is a multi-million dollar global blockchain think-tank devoted to the study of blockchain strategies, applications and obstacles to implementation.
Arizona Bill To Allow Tax Payments In Cryptocurrency Clears Hurdle
A bill that would allow residents in Arizona to pay their taxes in cryptocurrency cleared hurdles in a key committee in the state’s House of Representatives. Senate Bill 1091, sponsored by Republican Senator Warren Petersen, passed the Upper chamber on February 8. The Rules Committee of the Arizona House Monday approved the Bill with amendments, paving the way for a full House vote.
Tutorial: Crypto Lexicon – NOOB
In crypto sphere, a NOOB is someone who is new to the cryptocurrency world and inexperienced in the ways of it. The NOOB would have little knowledge of the different cryptocurrencies, their venues, discussion forums and the slang used.
As of 10.24 am ET on Thursday, Bitcoin was down 1.6 percent at $8,798.65, while Ethereum was up 3.8 percent at $629.07 on Coinbase.
by Jyotsna V