business

Tesla Completes Blockchain Pilot to Speed Up China Imports Process

U.S. electric car manufacturer Tesla is working with the Shanghai Port Group to test if blockchain can make the process of importing goods into China any easier. In an announcement Tuesday, blockchain-based logistics provider CargoSmart revealed that Tesla, the Shanghai International Port Group (SIPG) – the sole operator of the port – and Chinese cargo ship …

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Paxful Launches Peer-to-Peer Trading Between Gold and Bitcoin

Peer-to-peer (P2P) cryptocurrency marketplace Paxful announced the introduction of support for trade between gold and Bitcoin (BTC) on the platform on April 7. With the announcement, Paxful now facilitates physical trading in 16 different countries. Cointelegraph spoke to Paxful CEO and Founder Ray Youssef, who attributed the decision to support gold to “surprisingly high” customer …

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Germany’s Crypto Custody Law Hits a Snag: Startups Can’t Get Bank Accounts

While more than 40 banks have reportedly expressed interest in Germany’s new crypto custody license, those firms may still have to put up with an anti-crypto sentiment among German banks. “If you try to open a bank account for a company that is in the space, you are working with the institutional banking arm of …

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Coinhouse Wins First Crypto License From French Regulator

Crypto trading company Coinhouse has become the first crypto company to be registered with France’s top financial regulator, the Financial Markets Authority (AMF). The registration means Coinhouse now has a shot at getting banking services in France, which could give the firm cheaper services than the German bank it currently works with. “It’s a recognition …

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Kraken Hires Lawyer Marco Santori to Ramp Up Acquisitions

Kraken is growing its legal team, starting with the crypto veteran Marco Santori. The San-Francisco-based cryptocurrency exchange, which boasts over $180 million in daily volume, announced Monday that Santori would helm its legal team as chief legal officer. In this role he will be leading a significant expansion of the team, now counting a “half-dozen …

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Poloniex’s New Tron-Powered IEO Platform Moves Exchange Closer to Justin Sun’s Orbit

Poloniex has launched an initial exchange offering (IEO) platform that aligns the exchange more closely with the interests of Tron founder Justin Sun. Seychelles-based Poloniex – acquired by a group of investors including Sun in 2019 – said Sunday that the new IEO platform, dubbed LaunchBase, would serve as a springboard to “help quality blockchain …

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New Software Fix Offers Bitcoin Miners Increased Security

The company behind the world’s sixth-largest bitcoin mining pool has released software that aims to patch several security problems with such pools. The software, included in the BOSminer software suite, is the first working implementation of Stratum V2, the protocol that Prague-based startup Braiins released a specification for in 2019. With this software release, the …

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Crypto M&A and Fundraising Dropped Sharply in 2019: PwC Report

Crypto companies kept buying each other last year even as both M&A and funding deal flow in the industry took a dive, according to a report released Monday by PwC. On the M&A side, crypto-native acquirers took 56 percent of the deal flow, compared to 42 percent in 2018. The total number of M&A deals …

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Both Crypto Derivatives and Spot Markets Post Record Volume in March

CryptoCompare has published its monthly report analyzing the trade activity on crypto exchanges. The record-breaking crash of March 12 and 13 drove new all-time volume highs in both the spot and derivatives markets. March 13 sets record for daily spot trades The report states that March 13 produced the single greatest volume in the history …

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Crypto Mining Companies Promote Freedom of Speech in China

The first case of COVID-19 was diagnosed by Chinese doctors in November 2019. Rather than being shared with the global community, news of the viral outbreak was censored by the Chinese government. Since that time, more than 66,500 lives have been lost globally.  Though the pandemic has brought tremendous uncertainty to the global economy, it …

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