The major stablecoin project Basis, which is based out of the United States, is shutting down its operations and will be returning most of its funds to investors. The project had raised $133 million in funding via a private placement earlier this year in April. Investors in the project included industry majors such as Andreessen Horowitz and Bain Capital Ventures.
Mark Karpeles, the former Chief Executive Officer of the now defunct Bitcoin exchange Mt. Gox that was based out of Japan, could end up spending up to 10 years in jail. Karpeles was the CEO of the exchange when a massive hack attack in 2014 took Mt. Gox to bankruptcy and he has repeatedly denied charges of wrongdoing.
It is no secret that Opera became the first mainstream browser to include native Ethereum support on its mobile browser. Now, one of the most widely recognized browsers has announced the availability of the feature on desktop. As such, users will be exposed to the realm of cryptocurrency and decentralized applications.
According to a report published by the research company Diar, data from on-chain transactions shows that the adoption of stablecoins is growing. Diar stated that 4 major stablecoins have already broken through the $5 billion barrier on in-chain transactions in just the last three months.
Smartphone manufacturer HTC has chosen Brave to be the default web browser for its new HTC Exodus 1 phone. The co-founder of Brave, Brendan Eich had announced this partnership with HTC via a Tweet on December 8. However, the news was officially announced on December 10.
The first week of the last month of the year has ended well for the cryptocurrency market, with most of the cryptos finally showing green in trading. After a week of hitting new YTD lows, the world’s most valuable cryptocurrency, Bitcoin, finally closed last week closer to the $3.7k mark.
In the latest cryptocurrency news, the U.S. Securities and Exchange Commission has ordered fund manager CoinAlpha Advisors LLC to pay a $50,000 fine. The decision was made following what it deemed to be an unregistered securities sale.