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Binance has started producing blocks on its Binance Chain, plans to execute mainchain swap on April 23. Binance has launched its mainnet Binance Chain and expects to execute the swap of its native token Binance Coin (BNB) on April 23, according to an announcement on April 18. The major crypto exchange first revealed its plans to launch its own blockchain in December 2018, intending to build a basis for issuing new cryptocurrencies and initial coin offering tokens. According to the announcement, Binance is producing blocks with consensus from the genesis block as of today, with its native coin BNB planned to be issued in the genesis block. Binance Chain Explorer and Web Wallet will be available to selected partners in beta testing mode and are expected to be opened to public access “around April 23, 2019,” the announcement notes. Along with the launch of Binance Chain, the exchange provided details for the conversion of ERC-20 BNB tokens into native Binance Chain-based BNB (BEP2) coins..
Nvidia, which saw a massive drop in GPU sales due to the crypto bear market, is now confident it will sell out leftover inventory in Q1. Major global chip maker Nvidia expects to complete sales of remaining inventory built up in expectation of crypto mining demand, according to a Bloomberg report on March 19. The company is now working on selling the crypto-oriented inventory that remained unsold as the crypto bear market continues. The firm predicted that it would be able to sell the excess inventory by the end of the current quarter. After Nvidia saw massive market growth amidst increased demand for crypto mining hardware from 2016 to 2018, the firm was hit hard by the extended crypto bear market, with its stock becoming the worst performer in the S&P 500 at the end of 2018. Now, the California-headquartered computer hardware manufacturer said that it is still working through the stockpile of unsold inventory and remains confident that the company will be able to complete that ef..
The hacked New Zealand exchange launched the Cryptopia Loss Marker, which will be used in the rebate process for hacked accounts. Cryptopia, the recently hacked New Zealand crypto exchange, has posted an update on March 17 concerning its plan to resume trading on its platform, which is expected by the end of March. In the post, Cryptopia’s co-founder Rob (Hex) Dawson stated that the company is entirely committed to reopening the exchange. Hex provided Cryptopia customers with data about the ongoing rebate process, as well as general recommendations for interacting with their accounts. Cryptopia relaunched its website in read-only form on March 5, with the platform showing the balances as they were at Jan. 14, 2019, the date of the $16 million hack. The exchange explained that the website can be used to reset passwords and two-factor authentication credentials, which is also a top priority issue in terms of client support at the current stage, Hex wrote. In the new announcement, Crypto..
Fundstrat Global Advisors issues its 2019 crypto outlook stating that the major coins will soon recover. New York-based research company Fundstrat Global Advisors has released its 2019 crypto outlook on Friday, Feb. 8. The analysts describe incremental improvements that will purportedly support higher prices for cryptocurrencies. Tom Lee, Fundstrat’s co-founder and pro-crypto Wall Street analyst, commented on the study in his Twitter. He posted an introduction to the study and infographics that trace key market tendencies from 2017 to now. “We see 9 incremental improvements in the landscape that ultimately support higher prices,” Lee’s tweet states. The preview of the introduction chapter provides a brief assessment of 2018, which, according to Fundstrat, has brought a lot of disappointment. The analysts state that negative headwinds, such as the initial coin offering (ICO) post-hangover, adverse regulatory developments and excessive exuberance have reversed some of crypto’s achieveme..
After raising $103 million in September, a Swiss crypto bank startup expects a banking license from the Swiss financial regulator in the first half of 2019. The CEO of Swiss startup SEBA Crypto AG said in an interview that five “large asset managers” from both Germany and abroad have shown interest in their cryptocurrency bank, Swiss financial media outlet Cash reports Nov. 12. Back in September, the company had raised $103 million to set up a bank offering cryptocurrency-related services. At the time, CEO Guido Bühler had noted that the bank sees itself as a bridge between cryptocurrency assets and the traditional financial world. In the November interview, Bühler noted that SEBA Crypto AG expects to receive a banking and securities dealer license from Swiss financial market regulator FINMA in the first half of 2019. That license would allow the firm to conduct crypto trading and investments business for other banks and qualified investors. In September, SEBA had noted that it planne..
TSMC expects growth of demand for the high-end servicing of premium smartphones, but forecasts “continued weakness” in crypto mining demand. Major global chip manufacturing firm Taiwan Semiconductor Manufacturing (TSMC) predicts revenue growth in Q4, but expects a counterbalance due to the low demand for crypto mining hardware, Reuters reports Thursday, Oct. 18. TSMC, the world’s largest independent semiconductor foundry, forecasts “modest” revenue growth in the fourth quarter, mainly due to solid sales of high-end chips for premium smartphones. According to Reuters, TSMC is expecting Q4 revenue to increase to somewhere between $9.35 billion and $9.45 billion, as compared to $9.21 billion a year ago. However, the expected growth will be allegedly offset by the low sales of cryptocurrency mining equipment. While TSMC’s chief financial officer Lora Ho revealed that the company is forecasting a “continued steep ramp” of demand for TSMC’s 7 nanometre for a number of “high-end smartphones,..
Crypto exchange Bitfinex has temporarily suspended all fiat currency wire deposits for the Euro, USD, JPY and GBP, says they will resume “within a week.” Major crypto exchange Bitfinex has temporarily suspended all fiat wire deposits for the Euro, U.S. Dollar, Japanese Yen and Pound Sterling. This is according to several reports today, Oct. 11. While the exchange has not specified a reason for the suspension, it states that deposits are “expected to resume within a week.” As reported Oct. 8, the exchange has recently been prompted to officially respond to online rumours that claimed Bitfinex was insolvent and/or facing banking issues. As part of its recent statement, the exchange acknowledged that “complications continue to exist” for Bitfinex “in the domain of fiat transactions,” but stated this is something prevalent among “most” crypto-related organizations. The exchange’s statement was partly prompted by reports that its banking partner, Puerto Rico’s Noble Bank International, is ..
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