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Elon Musk: Crypto Is a “Far Better Way to Transfer Value than Pieces of Paper”

Tesla CEO Elon Musk described Bitcoin’s structure as “quite brilliant” and said that digital currency is “a far better way to transfer value than pieces of paper.” Musk made these comments during an interview on advisory company ARK Invest’s podcast, which was released today. When asked whether he thought Bitcoin would become the only currency native to the internet, Musk …

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Institutional Investor Consultants Cambridge Associates: Cryptocurrencies “May Very Well Upend the Digital World”

If you ask consulting firm Cambridge Associates, cryptocurrency is a sound long term investment. This sentiment comes from a Bloomberg report published earlier today.   Specializing in pension and endowment consulting, Boston-based Cambridge Associates advises institutions that manage over $300 billion. In a research note published today, analysts at the company wrote: “Despite the challenges, we believe that it is …

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Crypto Brokerage Coinmama Says Large Data Breach Affected 450,000 Users

Israel-based cryptocurrency brokerage Coinmama has suffered a major data breach that affected 450,000 users. The company disclosed this information in a company announcement yesterday. The breach is part of a massive hack that spanned 24 companies and 747 million records, which according to The Register, who originally broke the story of the hack, were listed for sale on dark web …

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Survey Says 41% of Institutional Investors Will Invest in ICOs in the Next 5 Years

A new survey of institutional investors conducted by the Global Blockchain Business Council (GBBC) and shared via press release yesterday revealed 19% of those surveyed believe cryptoassets will be invested and traded in by the year 2021. Conducted in December and January by PollRight, a market research company, the survey seem to reveal a greater willingness on the part of …

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HSBC Announces Savings of 25% in Forex Trade Settlement Using Blockchain

London-based banking behemoth HSBC announced that its blockchain-based platform reduced costs for its foreign exchange (forex) trade settlement by 25%. This news comes via a Reuters report earlier today. According to Chief Operating Officer of FX cash trading and risk management Mark Williamson, HSBC processes between 3,500 and 5,000 trades per day on its FX Everywhere system, settling about $350 …

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Nasdaq to Add Bitcoin and Ethereum Indices Later This Month

American stock exchange Nasdaq plans to launch two new indices tracking crypto prices on February 25th. The company announced the news on its website yesterday. The indices that will be launched are the Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX). Both will provide real-time price updates every thirty seconds for clients that use Nasdaq’s Global Index Data Service …

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Chainalysis Raises $30 Million from Accel, Other Investors in Series B Round

New York-based blockchain intelligence company Chainalysis has raised $30 million in a Series B funding round led by venture capital giant Accel. The news was confirmed in a blog post on Chainalysis’ site earlier today. According to the post, the round was led by Accel “with participation from existing investors,” which could include Benchmark, Techstars, and FundersClub. Generally, it is …

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Wall Street Blockchain Alliance Joins Blockchain Consortium R3

According to a press release published yesterday, the Wall Street Blockchain Alliance (WSBA) has joined blockchain consortium R3 in an effort to develop solutions on Corda, which is a decentralized platform built by R3 on the Ethereum blockchain for use by financial institutions. Said CEO of the WSBA Ron Quaranta: “We are pleased to partner with R3 and introduce our …

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Survey: 13% of Amazon Customers Would Consider Purchasing an Amazon Cryptocurrency

According to a recent report published by financial website Investing.com, Amazon shoppers would be open to purchasing a larger selection of products on the platform, including cryptocurrency. The report surveyed more than 1,000 Amazon shoppers in an effort to shed light on the level of trust they place in the company. Notably, the survey asked which Amazon-branded products – a …

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