March 10

“The top cryptocurrency fell by nearly 10 percent from $8,900 to $8,000 on Sunday to register its single-biggest daily decline since September 2019.

On Saturday, scammers in control of the remaining wallets of the China-based Ponzi scheme moved 13,000 BTC (worth around $101 million currently, but close to $120 million at the time) to so-called “mixers” and may have offloaded their holdings.

The sudden drop in prices seems to arise out of the selling of BTC by PlusToken.

People in control of the PlusToken wallets have been liquidating their stolen bitcoins since August and likely played a big role in pushing bitcoin down from $12,000 to $6,500 in the four months to November.”

See Also: Bitcoin Tested as a Safe Haven After Biggest Stock Crash Since 2009

“Gosar’s proposal divides digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Respectively, the three categories would be governed by the Commodity Futures Trading Commission (CFTC), the Secretary of the Treasury via the Financial Crimes Enforcement Network (FinCEN), and the Securities and Exchange Commission (SEC).

Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies. The classification of “crypto-currency” reads “representations of United States currency or synthetic derivatives” — more reminiscent of stablecoins like Tether (USDT). 

The bill looks to provide not only clarity, but legitimacy to crypto assets in the United States.”

“DBRS Morningstar has for the first time rated securities issued on a blockchain. Morningstar reportedly said in its rating that using Ethereum would speed up access to data on the securities, as well as boost transparency.

For the blockchain side of the investment process, $40 million in $CDG, a stablecoin linked to the U.S. dollar, was held by the trustee, UMB Bank, while FAT Brands held other tokens representing two tranches of the debt security. A smart contract completed the settlement of the trade.

See Also: Paradigm Leads $12M Round for DeFi-Friendly Wallet Argent

“To some extent, this is about making blockchain nodes run on both IBM and Oracle’s clouds. But it also opens the door to connecting the consortia of firms clustered on the two platforms. The groundbreaking interoperability work is happening on blockchains built using Fabric.

We have done full testing with IBM and SAP. The three of us have basically done cross-network testing on Fabric.”

Using DAI to beat Negative Interest Rates

“Known officially as the Bay Area Trade Finance Blockchain Platform, banks and businesses store order, logistics and transaction data on the system to create new transaction efficiencies. It’s also said to provide regulators with greater oversight and gives small and medium-sized enterprises (SMEs) access to more sophisticated financing tools.

The new funding from Beijing is expected to help PBoC drive adoption for its trade finance platform among businesses.”

“Investment management firm Elliott Management has set up a deal with Twitter to save Jack Dorsey’s role as CEO of the social media network.

Following the deal closure —  which considers a $2 billion share buyback — Elliott will gain a seat on Twitter’s board of directors. Private equity firm Silver Lake will invest $1 billion in Twitter and also get a seat on the board.”

“Horizon Blockchain Games raised $5 million in capital for their game SkyWeaver. The digital trading card game currently has 12,000 users playtesting, with over 90,000 waiting for access.

To make SkyWeaver possible, we’ve developed a number of novel protocols and transaction infrastructure for Ethereum. Through clever and careful design, we’ve architected an Ethereum-based blockchain stack for virtual worlds that is non-custodial (i.e. players have full ownership of their items), user-friendly and easy to build on.”