80% of Colombians Open to Investing in Crypto: New Survey

An astounding 86.5% of Colombians are familiar with cryptocurrency and 80% are open to investing in the asset class. Peer-to-peer Bitcoin (BTC) marketplace Paxful shared the results of its new survey — conducted together with Toluna Insights — with Cointelegraph on Aug. 15. 50% of Young Colombians Already Crypto Investors The survey further revealed that at least 50% of respondents between the ages of 25 and 40 have already invested or expressed interest in buying cryptocurrencies such as Bitcoin (79%), Bytecoin (>5%) or Ether (ETH) (<3%).  Just over 32% of…

Zambia SEC Warns About Investing in Promoted Onyxcoin Cryptocurrency

The Zambia SEC’s CEO, Philip Chitalu, has warned the public that cryptocurrency OnyxCoin creator Kwakoo is not licensed to give investment advice or solicit funds, from within and outside the country alike. The Lusaka Times relayed the SEC head’s warnings in a report on Aug. 2. According to the report, Kwakoo has been promoting Onyxcoin and soliciting investments from the Zambian public.  Relatedly, CEO Chitalu notes that Securities Act, No. 41 of 2016 dictates that certain activities — such as Kwakoo’s —  require proper licensure in Zambia, unless specifically exempted…

Coinbase Not Currently Investing in Decentralized Exchange Sector, Executive Confirms

United States cryptocurrency exchange Coinbase is not planning to launch a decentralized exchange (DEX), a senior executive told cryptocurrency news media outlet The Block in an interview on May 29. Speaking on a range of topics around Coinbase’s activities, Emilie Choi, the company’s vice president of Business, Data & International, said that despite acquiring P2P platform Paradex last year, decentralized trading is not a priority. “I think the decentralized exchange space, it’s gonna be interesting to watch it play out. I think it has a lot of potential,” she said.…

Tether Limited “Investing” in Bitcoin (BTC) is a Bullish Signal

Bitcoin (BTC) ranging but stable A portion of Tether reserves was used to invest in Bitcoin (BTC) Tether and iFinex, the parent company, are controversial though they play a crucial role in the ecosystem. Despite their claim that every USDT in circulation is pegged 1:1 against the USD, it appears that they are also investing in Bitcoin and other assets according to the latest Supreme Court transcript. Bitcoin Price Analysis Fundamentals The controversy around Tether Limited, the official issuer of USDT or Tether, appears to be perpetual. A few weeks…

Top Banks Alleged to Be Investing $50 Million in Digital Cash Settlement Project

Sources ostensibly familiar with the matter have claimed that some of the world’s leading banks are currently investing around $50 million to build a blockchain-powered digital cash system for transaction settlement. The news was reported by Reuters on May 17. An earlier project for a blockchain-based currency settlement coin was unveiled by Swiss bank UBS Group AG and London-based technology startup Clearmatics at early as 2015, as Cointelegraph reported at the time. One of Reuters’ sources has said that the latest development involves around a dozen major banks investing in…

Top Banks ‘Investing $50 Million’ to Build Blockchain Settlement System

Some of the world’s biggest banks are said to be investing around $50 million to build a blockchain-based digital cash settlement system. A Reuters report on Friday, citing “people familiar with the plans,” said possibly a dozen unspecified banks are involved in the project. The participating banks will reportedly be setting up a new entity called Fnality for the project, which could launch next year. Back in 2015, Swiss banking giant UBS was said to be working on a cryptocurrency that would be “linked to real-world currencies and connected to…

Fintech Company Launches Crypto Exchange Platform Integrated Into Social Investing Network

Hamburg-based fintech company Naga has released its new exchange platform, Nagax, after an intensive beta testing period. The developer promises a user-friendly interface and “super-fast execution,” as the system supports more than 10 million transactions per second. The new platform is integrated into the social investing network — also known as Naga Trader. According to the company, it is used by more than half a million traders around the world. Nagax will be connected to the Naga platform through its own cryptocurrency wallet, the Naga Wallet: It supports major crypto,…

Tron (TRX) Prices Flat, Did Justin Sun Consider Investing in BitFinex?

Tron (TRX) range bound but up 4.5 percent Justin Sun could invest in BitFinex IEO The integrity of any blockchain team lead them to success or failure. Therefore, the decision of Tron’s co-founder Justin Sun to contemplate  investing in an IEO of a trusted exchange headed by a questionable team should under ordinary circumstances  raise red flags. At spot rates, Tron (TRX) is up 4.5 percent from last week’s close, and bulls are aiming at 4 cents. Tron Price Analysis Fundamentals BitFinex is under siege. Apart from the mess around…

Tim Draper to Meet with Facebook to Discuss Investing in Rumored FB Coin

Billionaire VC investor Tim Draper is planning to meet with Facebook execs to discuss investing in the social media’s rumored crypto project, Bloomberg reports April 12. According to the report, Draper revealed to Bloomberg that he is “interested to hear the story” around the project, claiming that he is ready to “see if it is a fit.” The move comes on the heels of recent news that the social media giant is reportedly seeking a $1 billion investment from various venture capital firms to develop its supposed cryptocurrency project. On…