ConsenSys Exec: Layoffs Did Not Exceed 10 Percent, Mainly Affect Support Staff

Recent layoffs at blockchain software technology company ConsenSys did not exceed 10 percent of staff. The company’s Executive Director of Enterprise and Social Impact Vanessa Grellet spoke to Cointelegraph about the recent developments at the Crypto Finance Conference in Switzerland on Jan. 18. Grellet said that the staff cuts were a “natural movement” and mainly…

MIT Professor: Blockchain Can Allow for More Inclusive, Borderless Economy

Blockchain can allow for the creation of a borderless economy, Massachusetts Institute of Technology (MIT) professor Silvio Micali claimed in a interview on Bloomberg’s Daybreak Asia, Jan. 21. Speaking on the show, Micali outlined three major properties of blockchain systems that must function simultaneously to enable a more inclusive and borderless economy — security, decentralization…

71+ Million User Volunteer Platform to Launch Blockchain-Based DApp

Chinese non-profit Zhiyuan Hui — reportedly the world’s largest volunteer service platform — has announced its partnership with token economy infrastructure firm EveriToken. The news was announced Jan. 12 in an official EveriToken blog post. As of December 2018, Zhiyuan Hui reportedly serves over 430,000 non-profits, and its 71 million users are reported to have…

Swiss Bank Falcon Launches Crypto Wallet With Withdrawals to Fiat

Switzerland-based Falcon Private Bank has introduced support for direct transfers and storage of select cryptocurrencies, according to an official press release published on Jan. 21. The bank announced that both private and institutional investors can now directly transfer a selection of major cryptocurrencies to and from the institution’s own “segregated Falcon wallets,” as well as…

Major Central Bank Institution BIS: Bitcoin Must Depart From Proof-of-Work

Bitcoin’s (BTC) problems are only solvable by departing from a proof-of-work (PoW) system, according to research published by the Bank for International Settlement (BIS) on Jan. 21. According to the paper, when in the future Bitcoin’s block rewards fall to zero — given that only a limited number of new Bitcoin will ever be created…

Swiss ‘Smart Card’ Crypto Wallet Tangem Gets $15 Million From Japan’s SBI Group

Switzerland-based Cryptocurrency ‘smart card’ wallet manufacturer Tangem has secured $15 million in funding from Japanese finance giant SBI Group, the company confirmed in a press release Jan. 21. Tangem, which began issuing its first wallets in June 2018, aims to increase cryptocurrency adoption by making assets spendable in a manner similar to conventional smart cards…

Centralized Exchanges Still Overwhelmingly Dominate Market, New Report Shows

Despite a significant uptick in the creation of decentralized crypto exchanges (DEX) in 2018, their centralized counterparts continue to control the lion’s share of global industry trade volumes. The finding was reported in the 2018 Cryptocurrency Exchange Annual Report from crypto and blockchain research organization TokenInsight, shared with Cointelegraph Jan. 21. TokenInsight’s report, which has…

Total Market Cap Drops $5 Billion as All Major Coins Take Price Hit

Monday, Jan. 21: cryptocurrencies are seeing price weakness across the board, with virtually all of the top 100 coins by market cap tipping into the red.Top ten coins have lost between 3 and 7 percent on the day, as data from Coin360 shows. Market visualization by Coin360 Bitcoin (BTC) is down about 4 percent on…

Funding Hate: The Far-Right’s Pivot to Crypto

Cryptocurrencies were never apolitical. The fateful 2008 Satoshi Nakamoto treatise did not appear in an ideological vacuum: Notions of online privacy, proactive use of cryptography for protecting individual freedom, and denationalization of currency that informed the Bitcoin creator’s vision had been brewing for at least two decades, at least since the rise of the cypherpunk movement…

Japan: Regulators Approve Startup’s Bitcoin Sidechain Trial for Exchanges

Japanese blockchain development company Crypto Garage announced it had gained regulatory permission to trial its settlement system using Blockstream’s Liquid Sidechain, Cointelegraph Japan reported Jan. 21. Crypto Garage, which claimed to be the first such blockchain finance project to get the green light under the Japanese government’s regulatory sandbox scheme, will now conduct a one-year…