Cryptocurrency News

Venezuela’s President Nicolas Maduro announced on Wednesday that the country’s currency is going to be changed to the new bolívar soberano (sovereign bolivar) starting from August 20. This new currency will be anchored to the cryptocurrency the president launched in February, the Petro (PTR), which is backed by Venezuela’s oil.

Coindesk released its State of Blockchain Technology report for the second quarter of 2018 on July 25. This is the second such report published by the cryptocurrency exchange and it highlights the most important events of the second quarter as well as how investments in the cryptocurrency market fared.

Honeyminer, a New Jersey based cryptocurrency startup, launched its free beta software quietly in June this year, and has already gotten more than 10,000 downloads across the world so far.

On July 23, 2018, the world’s number one digital asset, Bitcoin posted its highest levels of dominance of the cryptocurrency market in terms of market capitalization since December of 2017.

Early Bitcoin adopters from China who have now become millionaires and billionaires are funneling some of their wealth out of their country by investing in real estate in other countries.

It is no secret that Malta has a new cryptocurrency regulatory framework in place. The only catch, however, is that it is yet in force. Interestingly, new reports have shone a light to it, giving away details which should interest many.

A team of Bitcoin engineers, led by Bitcoin Core contributor John Newbery, announced the launch of a new non-profit organization called Bitcoin Operations Technology Group (Bitcoin Optech) on July 20.

Grayscale Investments LLC, an investment company which specializes in cryptocurrency funds, released its first ever cryptocurrency investment report, which showed that of the $250 million that it raised via new asset investments in 2018, 56% came from institutional investors.

P2P Bitcoin exchange Paxful announced to the media that it looking to open an office in Venezuela. The company said that it would be launching their office in the hyperinflation ridden country in September, after which it will release its app in October.

According to the latest news reports, IBM is partnering with fintech startup Stronghold on a stablecoin that is pegged to the US dollar. The new asset is also named Stronghold USD and uses a 1:1 price ratio to the dollar. This is only one of two stablecoins to use the Stellar Blockchain network. Stronghold USD is federally insured by Prime Trust bank.