Cryptocurrency

Central Bank to limit the usage of electricity

The Central Bank of China, the People’s Bank of China (PBOC) uttered to the Leading Group of Beijing Internet Financial Risks Remediation to voice out about the electricity usage in cryptocurrency mining. It commanded them to appeal against the local administration to impose limitations on usage of electricity in bitcoin mining which currently acquires huge amount of GPU’s that has increased 15 fold during the previous year.

 

Ripple Co-Founder becomes the 18th richest person

The co-founder and former CEO of Ripple, a San Francisco based company, Chris Larsen, owned 5.19 billion XRP tokens. The present value of the tokens is at $16.9 billion making 17% of the company’s capital. The investment in Ripple had helped him secure the 18th position in the list of richest people in the world.

 

SBI Group partnering with Huobi

The SBI Group, a financial institution and Huobi Group, China united to launch of two digital currency exchanges. The two new exchanges proposed to be named as ‘SBI Virtual Currencies’ and ‘Huobi Japan’ will establish their crypto business in Asia with the technological aid of Huobi. As per the agreement, the SBI will be allowed 30% equity in Huobi, Japan and 10% in Huobi Group, Korea.  The Huobi will be allowed 30% equity in SBI Virtual Currencies, a subsidiary of SBI Holdings.

 

Petro: 860,811 signed up for mining

Nearly 860,811 people have signed up and registered to deal with Petro, a new national cryptocurrency in Venezuela. The President Nicolas Maduro announced that such number of young users registered to legally mine Petro in the market.  

 

“Restrictions on mining, a rumour”

The “restrictions on mining” by Chinese government in the cryptocurrency industry is observed as a rumour.  An official from the Chinese Finance industry reported to the Finance Magnates that “mining is a very different affair” that doesn’t fall in line with the ban on ICO and cryptocurrencies. Mining being more profitable would be the reason behind government’s silence towards it.

 

OMV Petrom acquired by Canadian Company

The Transeastern Power Trust, Canadian company, has acquired OMV petrom’s Dorobantu 45MW wind park. The Power Trust aims to use that energy to mine cryptocurrencies. The consideration of USD 23 million and EUR 2.8 million through short-term bridge financing and vendor financing was paid. It is expected to be repaid by opening a private placement offer in the first week of January.

 

Pay Giggles N’ Hugs by Bitcoins

Giggles N’ Hugs, a restaurant, which brought high-end quality organic food to the customers, announced that it is open to accept payments through bitcoins. The customers can experience the benefit of making payments through BitPay, a bitcoin payment processor. The company will receive the payments as bank deposits at 1% settlement charge.

 

Finnish Prasos raises €2.5 million for development

The Prasos, a startup, Finland bitcoin and Blockchain technology raised €2.5 million for development of its cryptocurrency investment services for the benefit of traditional investors. It will also expand its existence in Europe and establish listing on Nasdaq First North marketplace.

 

Plus500 gets 250,000 new sign ups

The crypto enthusiasts observing the demand for bitcoin signed in to Plus500, a trading platform. The number of users logged into this platform amount to 250,000 approximately. Plus500 had encouraged the users to gamble on the future price of bitcoin through its podium.  

 

Blockchain Guild: Awards 0.5 BTC to Kalle Alm

The community set up for Blockchain development, Blockchain Guild, has made its maiden award. The awarding of 0.5 Bitcoin to Kalle Alm, a bitcoin prime member will be used to work on a Bitcoin Script Debugger. The supporters for the award were Christopher Allen, Jimmy Song, Tuur Demeester, Charlie Lee and Zcash.