The NEM Foundation is charting out a survival plan after it successfully grabbed a funding injection of around $8 million. The figure, in particular, was obtained by the organization last month, the same month it decided to lay off most of its entire workforce.
Cryptocurrency Market Updates
The NEM Foundation is facing financial problems and has now released a plan to restructure its organization as well as finances to deal with its problems. This plan follows the news that broke earlier this year that the Foundation was running out of its native XEM cryptos.
The cryptocurrency exchange based out of Malta, OKEx announced in a press release that it was now listing Tron on its C2C (Customer-to-Customer) trading market. The exchange’s decentralized trading platform is similar to a P2P (Peer-to-Peer) model, where users can trade in cryptocurrencies directly with each other.
Ripple’s Chief Executive Officer Brad Garlinghouse has openly criticized the newly announced crypto being created by banking major JP Morgan Chase & Co. According to him, the new crypto, called JPM Coin, lacks the basic interoperability that would label it a significant innovation.
TrueUSD (TUSD) has entered into a new partnership with the accounting firm Armanino. Thanks to this partnership, traders will be able to carry out instant audits of TUSD’s backing.
According to local news reports, the Ministry of Economic Development in Russia is working on a third set of regulations to support the development of the Russian Offshores.
According to the latest evidence, QuadrigaCX, the Canadian cryptocurrency exchange most probably stored a large amount of Ether (ETH) with other cryptocurrency exchanges.
The developers in the Ethereum community have started looking for a new specialist who could help in the task of coordinating major software upgrades. After the exodus of core developer named Afri Schoeden, the devs have been working and discussing the adamant issue. Basically, it has been a challenge for them to find a replacement.
Binance’s Chief Executive Officer Changpeng Zhao tweeted on February 28 that the cryptocurrency exchange was offering a reward to test Binance DEX, its new decentralized trading platform.
The US-based cryptocurrency exchange Kraken is offering a $100,000 reward for anyone who can find Canadian crypto exchange QuadrigaCX’s missing funds. This announcement was made by the American exchange on its blog on February 28.