JP Morgan labels Bitcoin a ‘fraud’

James Dimon - bitcoin - fraud

JP Morgan Jamie Dimon has labelled Bitcoin a fraud that will eventually ‘blow up’ at a banking conference in New York. In an astonishing tirade against the flagship digital currency, Dimon said that it was only fit for use by drug dealers, murderers and people living in locations like North Korea. He also said that he would immediately fire any employee at the investment bank that he found to be trading in Bitcoin. The Guardian quotes Dimon as saying: “The currency isn’t going...

SEC issues warning to investors about ICOs

SEC - ICO

The US securities and Exchange Commission (SEC) has issued a stark warning to investors about the risks of public stock scams that are using the current buzz around cryptocurrencies as a promotional tactic. The investor alert, published on 28 August, notes that: “Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams.  These frauds include “pump-and-dump” and market manipulation schemes involving publicly...

CoinDash joins forces with HyperChain Capital

CoinDash has announced that it has partnered with digital assets hedge fund HyperChain Capital ahead of its upcoming ICO. CoinDash is a social media platform aimed at providing investors a space to create and maintain their crypto assets and interact with one another. HyperChain Capital has built a name for itself by focusing on blockchain companies and ICOs. The collaboration will see the fund offering advice and support to the platform for its ICO, currently scheduled for...

Blockchain potential for IoT faces barriers to growth

The growing number of blockchain-based applications is driving ‘substantial’ investment in IoT projects, according to ABI Research. In a new report, the research company states that blockchain has ‘great promise for the technology to alter and transform established industries beyond fintech’. Venture capital funding for blockchain reached half a billion USD globally in 2016. There are currently around over 1,500 blockchain startups in operation. Aside from transactions, the...

Gnosis token sale concludes in less than 15 minutes

The ethereum-based, decentralised prediction market Gnosis’ ICO has concluded in less than 15 minutes – despite having an innovative mechanism designed to discourage the kind of rampant speculation that has defined recent ICOs. The quarter of an hour sale ended with the creators owning 95% of the funds, worth more than $280 currently. Just 5% of the project’s tokens sold for a combined $12 million. Gnosis’ network is now in beta stage. The company’s platform will allow users...

Storj Labs announce Ethereum token sale

Decentralised cloud storage provider Storj Labs has announced it will be selling digital tokens held by the company will converting to an Ethereum-based application token. The company hopes the token sale will enable users to participate in the Storj network and gain access to related services from the company. Individuals who currently hold Storj tokens will be able to convert into the Ethereum-based token on a one-to-one basis. The token sale will not increase the total supply of...

‘Kickstarter for blockchain apps’ gets $100,000 boost

OpenLedger’s Apptrade, the platform aiming to create a kickstarter for blockchain apps, has received a heavy financial boost. The company received $100,000 from OpenLedger ApS, the Blockchain powered conglomerate. Using the digital token APPX, Apptrade creates groups of apps (or portfolios). If a member of one of these groups becomes popular and highly profitable, the value of the entire group also rises. App creators can create their own portfolios or their can join an existing...

Blockchain Capital aims to raise $50m in third fund as enterprise use cases proliferate

Blockchain Capital, a venture capital firm which invests in companies who use blockchain, is planning to raise a third fund via a combination of a traditional limited partnership and a digital token. The overall figure raised is expected to be $50 million, according to a Reuters report. “The partners decided to pursue a parallel offering of Ethereum-based tokens, issued by a Singapore entity, that would represent an evergreen fractional ownership in a new fund called Blockchain Capital...

Coinfirm raises $700,000 in seed-funding round to help banking compliance in blockchain

Blockchain-based start-up Coinfirm has raised $700,000 in a seed-funding round from Luma Ventures to further expand services and build features on its platform, the company has announced. As the blockchain ecosystem continues to grow exponentially and the regulatory technology market is expected to rise to $100 billion over the next few years, Coinfirm has positioned itself to be an important player in both spaces. Coinfirm’s blockchain anti-money laundering (AML) risk and compliance...

Blockstack and Hashed Health raise combined $6 million

Two companies in the blockchain space have recently received funding; healthcare consortium Hashed Health raised $2 million, while Blockstack, a decentralised DNS system built on top of the Bitcoin blockchain, has raised $4 million. Hashed Health’s round was led by investment firm Martin Ventures, while Blockstack’s was led by Union Square Ventures, with participation by Lux Capital, Naval Ravikant, Digital Currency Group, Compound, Version One, Kal Vepuri and Rising Tide. With 50...